Depository Contract for Funds of Open-Enrollment Charter Schools

Word version

 

Title 19 Texas Administrative Code (TAC) §100.1043(b) states that "…state funds received by a charter holder must be deposited into a bank with which the charter holder has entered into a depository contract." In addition, according to the period specified in 19 TAC §100.101, the charter holder must file with the Texas Education Agency (TEA), Division of Financial Compliance a depository contract and a vendor direct deposit authorization form (VDDA form) by November 1 of each year. However, if there have been no changes to the current accepted depository contract on file with the agency, then the charter holder may file a statement to this effect in lieu of the depository contract.

Please complete and submit either a Depository Contract for Funds of Open-Enrollment Charter Schools and a VDDA form or a signed statement indicating that there is no change to the current accepted contract. Please email these documents to iona.escobedo@tea.texas.gov by November 1, 2013.

Please review your documents for accuracy and completeness before you submit them since the TEA will not accept incomplete or incorrect forms. You can download both the contract and the VDDA forms referred to above from the TEA website for Depository Contracts:

http://www.tea.state.tx.us/index4.aspx?id=2147484119

If you have any questions or require further assistance, please contact Gayle Escobedo in the Division of Financial Compliance at (512) 475-2372.

Sincerely,

Paul Moreno
Manager of Financial Desk Reviews
Division of Financial Compliance