When you have knowledgeable and experienced professionals on your advisory team, you can worry less about the standards and more about the success of your students. The importance of a quality education has a widespread impact starting from an early age, which means maximizing your schools’ tools and resources are paramount.
K-12 organizations and charter schools are dedicated to equipping students with a strong foundation, important life skills and preparing them for future career paths. However, operating as a governmental or nonprofit entity comes with a unique set of challenges and implementation standards.
All K-12 organizations are funded by their constituents: taxpayers in a traditional or charter school environment and parents and charitable organization in a private school environment. These funding streams come with numerous challenges related to compliance requirements and fiduciary responsibility. An experienced team of K-12 advisors can help you deal with these complex challenges and get back to focusing on your goals.
For more than 35 years, we have been known as an industry leader in education, with unique experience in charter schools, private schools and traditional K-12 schools. Our professionals are thought leaders in the space, educating the educators on relevant topics and constantly changing standards.
Our educational industry experience is coupled with a strong government and nonprofit knowledge base. Our team members are recognized leaders locally and nationally in organizations such as the GFOA, AGA, and the AICPA, and work with clients of all sizes. No matter what financial or organizational challenges you’re experiencing, we can help you find a solution, so you can spend more time focusing on the well-being of your students and your organization.
Our K-12 advisors can provide expertise with:
Regardless of the unique issues your organization is experiencing, we’re here to help you navigate through them. We’ll tackle the financial and operational challenges, so you can focus on what you do best—helping guide students along their academic path and preparing them to be the leaders of tomorrow.
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I've been able to build a great relationship with the professionals at Eide Bailly. The staff members are knowledgeable, down-to-earth and very easy to talk to. I depend on their knowledge and expertise of school districts."
Eide Bailly's depth of knowledge within school districts has been very comforting. Their professionals have been helpful in explaining new regulations and keeping me up-to-date. I actually enjoy having them here for our audit."
Transform your organization with a team of advisors who know and understand your challenges. Education represents one of the top five industries we serve. Eide Bailly works with the entire spectrum of organizations to address not only their financial issues, but their business and operational issues as well. Throughout the firm, we work with 500 school districts and education organizations, both public and private.
As with most other public accounting firms, the core services of tax and assurance form the foundation of amenities offered to our education clients. However, unlike other firms, Eide Bailly offers a diverse set of additional services, beyond audit and tax.
Eide Bailly’s strong financial foundation, continued growth and commitment to the education industry ensures our clients that we can maintain a long-term relationship with them. Clients will work with a team of professionals who are highly qualified, experienced and who truly understand their challenges and issues.
In these complex times, it’s become increasingly difficult to operate efficiently and productively. K-12 organizations have been tasked with operating in new and unique ways, in order to teach safely and prevent the spread of the coronavirus. No matter what size or type of school you operate, there are areas that could benefit from guidance and improvement. Maximizing technology, tools and resources is more important than ever.
When you have a team of advisors working on your behalf, you will be able to make better decisions. As a result, you will be more equipped to collaborate more effectively within your organization, as well as provide more support to your students and their families.
The challenges in the K-12 education sector are diverse and unique. It can be challenging to maintain compliance with applicable standards. You don’t have to carry this burden alone—we’re here to support you each step of the way. Our team of advisors is comprised of collaborators and innovators. Culture is at the heart of everything we do. You will benefit from our open and honest, ongoing communication to develop trust and rapport.
These difficult economic times have been hard on the education industry as schools are asked to do more with less. The impact of the pandemic and remote learning has taken a toll on the students, the staff, and the administration. We can help you maximize your limited resources to provide the best education for your students. In addition to a comprehensive array of professional advisory services, we can help guide you through other common challenges that K-12 schools face.
We work with 500 school districts and education institutions, both public and private, throughout the nation. As with most other public accounting firms, the core services of tax and assurance form the foundation of amenities offered to our clients. However, unlike many other firms, Eide Bailly is able to offer a diverse set of additional services, beyond audit and tax.
We assist our clients with state/local government consulting, nonprofit organization and tax consulting, internal audits, audit and assurance, cybersecurity, fraud and forensic advisory, as well as technology consulting to name a few.
Employees and volunteers of Associated Student Bodies (ASB)/booster clubs are given the opportunity to dive deep into specific accounting skills related to student body organizations and learn the reasoning behind the procedures. We offer self-paced training for your ASB/student organization staff or booster club volunteers, so they are empowered to:
Our education industry advisors can help you understand government standards, best practices and risks for improved operational efficiency. State and local governments are consistently evolving due to new GASB standards, budgetary constraints, fiscal sustainability pressures, technology and transparency and the aging population.
Your school can better navigate these challenges with the help of an experienced professional. Through training, internal audit partnerships, forensic audit and prevention, internal controls analysis and testing, GASB implementation consulting, audit finding resolution, GFOA review, performance analysis and other specialized engagements, your organization can stay on top of changes.
Eide Bailly's professionals play an active role in developing and applying governmental accounting standards. We're at GASB board meetings and serve on the GASB’s task forces, taking our clients' concerns directly to decision makers. We serve on the AICPA State and Local Government Expert Panel and chair national boards that comment on proposed standards. In addition, one of our CPAs is currently serving as a GASB Fellow.
Reduce risk and improve operational performance in your K-12 or charter school with an internal audit. By strategically evaluating and managing risk, it can decrease your stress and improve:
Internal audit is a vital component of governance and strategic risk management in education. It provides an additional element to risk assessment across your organization, facilitates improved processes and controls, address regulatory or other compliance issues, and ensure processes are efficient through the COSO framework.
Our internal audit professionals bring strong process, procedure, internal control and risk management experience to your organization. We bridge these skills with specialized insight related to risk and compliance and specific industry knowledge, to help your organization reduce risk and improve operational efficiency.
For the schools that file a 990 or 990T, minimizing your federal and state tax obligations with ideas and planning scenarios can be an important part of fulfilling your fiduciary responsibility. We routinely advise our clients on changes in reporting requirements, items that might be subject to unrelated business income tax, management of nexus and state tax reporting issues, tax implications of entity selection, organization structure, business valuation and assistance in structuring agreements.
When preparing and reviewing the federal Form 990s for our clients, it’s understood that these records are available to the public—including the media. Our approach to providing value regarding the preparation of the tax return includes several areas. We review the information that is being accumulated, as well as the theory behind how the information is included in the tax return.
The tax team works closely with the accounting team to understand your objectives and would use this information in the preparation of the income tax returns. We work closely with the audit team to use the information they have collected in the audit process in our preparation of the tax returns. We will also communicate with the audit team to understand any financial or operational changes that may affect preparation of the Form 990.
When you work with us, you’ll have access to the knowledge and talents of more than 2,000 professionals across our firm. This includes specialized tax knowledge, a full spectrum of audit/assurance services and our many specialized services, such as:
Maximize your limited resources to promote the success of your students. Our team of professionals will take the time to understand your organization and its goals to help you achieve your goals.
Turn your audit or review engagement into a springboard for impactful change. Many consider an audit or review engagement to be a nuisance, a "necessary evil," only obtained when it’s required. However, when you work with a firm that sees audits as an opportunity to further understand your organization, you can see the additional value that understanding provides.
Maximize limited resources while providing your students with greater educational opportunities.