Deadline for Depository Contracts for Open-Enrollment Charter Schools

Word Version 

October 29, 2012

Immediate Action Required


Subject: Deadline for Depository Contracts for Open-Enrollment Charter Schools

This letter serves to remind open-enrollment charter schools of the upcoming deadline of November 1, 2012, to submit a depository contract and other bank deposit information to the Texas Education Agency (TEA).

Title 19, Section 100.1043(b) of the Texas Administrative Code (TAC) 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, all charter holders must submit this depository contract to TEA’s Division of Financial Audits by November 1 of each year (per 19 TAC, Section 100.101).

If your charter holder’s current depository contract already on file with TEA has not changed in the past year, you must simply file a signed statement to this effect instead of the depository contract.

The depository contract and signed statement forms are available for download from the TEA website. Additional information and instructions are also available at this website.

Please submit the applicable form by November 1, 2012, to the following address:

Texas Education Agency
Division of Financial Audits
Attn.: Dana Flores
1701 N. Congress Ave.
Austin, TX 78701-1494

We encourage you to read the online instructions carefully and to make sure your form is accurate and complete before you submit it. TEA will not accept incomplete or incorrect forms, and delays in processing may also delay state funding to your charter school.

If you have any questions or if you require further assistance, please contact Dana Flores in the Division of Financial Audits at (512) 463-9095.


Michael Richmond
Director of Investigations and FSP Audits
Division of Financial Audits