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Fiscal Performance & Accountability

Fiscal Performance & Accountability

The Office of Fiscal Performance & Accountability ensures that each charter school's financial activities are in compliance with the terms and conditions of the charter contract and applicable law. The office also provides support and guidance to charter schools in the area of business management.

To monitor a charter school's financial position, the office reviews interim financial statements, original and amended budgets, annual audits, financial aspects of contract amendments, applications and reauthorizations and deficit elimination plans. The office also reviews the actual amount a charter school is spending as compared to its strategic plan, asking: Is the charter school meeting its student spending allotment? Are the charter school's fiscal decisions in alignment with its plan?

Comprised of professionals coming from some of the most highly regarded financial advising corporations, the team has been a force for quality in charter public school financial reporting. From establishing control checks to posting budgets on the Internet that verify transparency of the charter schools' financial records, to reviewing educational service provider contracts with legal counsel, ensuring the best interest of the charter school is being served, the schools chartered by Central Michigan University are being served well by the office.

The Governor John Engler Center for Charter Schools' financial oversight operation has become a model for authorizers nationwide and has been credited with opening the financial markets to charter public schools. Without levying taxes or bonds on residents, charter public schools now have multiple opportunities for financing buildings, equipment and staff that only conventional public schools could previously afford.

 

Mr. Derrick StairMr. Derrick Stair
Director, Fiscal Performance & Accountability

Mr. Stair is responsible for managing the Centers' program functions associated with fiscal performance and accountability. Prior to joining the Center, Derrick served as the Director of School Finance with Choice Schools Associates, LLC in Grand Rapids, Michigan. Derrick earned a bachelor's degree in accounting from Michigan State University and a MBA from Central Michigan University. He is a licensed certified public accountant and a member of the Michigan Association of Certified Public Accountants. Derrick also sits on two separate committees that oversee the Michigan Department of Education's School Accounting Manual and School Auditing Manual.

 

 

 

Ms. Shannon M. French
Finance Administrator

Ms. French performs oversight duties within the Office of Fiscal Performance & Accountability at the Center. In that capacity, Shannon reviews charter school budgets, quarterly financial statements, audited financial statements and deficit elimination plans to determine whether a charter school is in compliance with the terms and conditions of the charter contract and applicable law. Prior to joining the Center, Shannon worked as a trust officer for Comerica Bank. Shannon holds a bachelor of science degree in international business and corporate finance from Central Michigan University.

 

 

 

 

Marie NatzelMs. Marie Natzel
Finance Administrator

Ms. Natzel performs oversight duties within the Fiscal Performance & Accountability unit of the Center. In that capacity, Marie provides guidance and expertise to schools related to their budgets, quarterly financial statements, audited financial statements and overall financial performance. Before joining the Center in 2010, Marie served as a Financial Specialist for Michigan's Department of Energy, Labor and Economic Growth and as a Purchasing Coordinator for Davenport University prior to that. She holds a bachelor's degree in finance from Michigan State University.

 

 

 


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