Financial Oversight Policy

The District of Columbia Public Charter School Board (DC PCSB) announces an opportunity for the public to submit comment on the newly proposed Financial Oversight Policy, which better defines the circumstances under which DC PCSB will revoke a school’s charter on financial grounds. The policy is organized into three substantive sections and one procedural section. The three substantive sections align with the three statutory bases for revocation: 1) Pattern of Nonadherence to GAAP, 2) Pattern of Fiscal Mismanagement, and 3) Economic Non-viability. The fourth section, Exigent Circumstances, provides guidance on when DC PCSB will deviate from the decision-making timing articulated elsewhere in the policy.