Charter School Depository Contract—Request for Submission

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ACTION REQUIRED

August 24, 2016

TO THE CHARTER ADMINISTRATOR ADDRESSED:

Subject: Charter School Depository Contract—Request for Submission

The purpose of this letter is to inform all charter holders and charters schools that for this year’s submission they must submit a Depository Contract by December 1, 2016. A signed statement that there have been no changes to the depository contract will not be accepted.

A charter holder must have a depository bank with which the charter holder has entered into a depository contract (19 TAC §100.1043(b)). By December 1 of each year, a charter holder or charter school must submit to the Texas Education Agency (TEA), Division of Financial Compliance:

  • a completed and signed Depository Contract for Funds of Open-Enrollment Charter Schools or
  • a signed statement that there have been no changes to the depository contract since your last filing.

However, for the required submission due by December 1, 2016, we are asking for each charter holder or charter school to submit its completed and signed Depository Contract for Funds of Open-Enrollment Charter Schools to ensure complete and up-to-date contracts for each school.

Please verify that your existing charter school depository contract is current with the existing charter board president and authorized bank officer. If the contract in not up-to-date, the charter holder will have to complete and submit an up-to-date depository contract for your charter school by the December 1, 2016, deadline.

Submit the depository contract electronically through the Texas Education Agency Secure Environment (TEASE) Audit Application. You must submit the depository contract documents in PDF under the 2017 year (2016–2017 school year).

You can find additional information on the depository contract for charter schools including forms and submission procedures on the Depository Contracts for Charter School’s web page: http://tea.texas.gov/Finance_and_Grants/Financial_Compliance/Depository_Contracts_for_Charter_Schools/

In conclusion, every charter holder or charter school must submit a PDF copy of its complete and up-to-date Depository Contract for Funds of Open-Enrollment Charter Schools electronically to the TEA, Division of Financial Compliance through the TEASE Audit Application by December 1, 2016.

Sincerely,

David Marx, Director, Division of Financial Compliance