Fiscal Tools

Fiscally Accountable/Independent Risk Analysis

The Fiscal Crisis and Management Assistance Team (FCMAT) has developed the Fiscally Accountable/Independent Risk Analysis as a management tool to evaluate key indicators that may assist a county office of education in determining whether a fiscally accountable or fiscally independent school district, as defined by Education Code Sections 42647 and 42650, has adequate controls to maintain the status of fiscal accountability/independence. FCMAT recommends that the county office conduct this analysis at least annually to ensure ongoing compliance. A lack of adequate controls may indicate the need for possible revocation of the fiscally accountable or fiscally independent status.  

A fiscally accountable or fiscally independent district should continually monitor its own accounting controls to ensure ongoing compliance with the requirements, as prescribed in Education Code Sections 42647 and 42650. 

About FCMAT

The Fiscal Crisis and Management Assistance Team’s (FCMAT’s) primary mission is to help California’s local K-14 educational agencies identify, prevent and resolve financial, operational and data management challenges by providing management assistance and professional learning opportunities.

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