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                            TO:  Interested Christian Schools                                                                                          FROM: Jim Bramer, Retired CPA-Auditor
                                                                                                                                                                                      FILE: 7128-77/sch 

                            RE:  Grade Report re School Fiscal Matters,  Sample of                                                   Originated:   April 2001        

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           We suggest that during your annual session with the Auditor that each one in attendance independently fill out the following grade report -- be sure everyone understands the terms used.  The Auditor's poor grades need to be clear to all at this meeting.

	S U B J E C T				Strong	OK	Weak
	Fiscal Overview:
A>	Apparent fiscal stability				______	______	______
B>	Debt management				______	______	______
	Board/Governing Matters
C>	Board is properly fulfilling its
		responsibilities re finances			______	______	______
D>	Current/articulated & understood
		Finance Policies			______	______	_______
E>	A functioning Board non-staff
		Treasurer			______	______	______
F>	A properly functioning Board
		Finance Committee (FinCom)			______	______	______
G>	School does financial planning
		and projections.			______	______	______
H>	Overall protection of School's
		tangible assets-Insurance Issues.			______	______	______
	Reporting and Management
I>	Acct	Receivable Management			_____	______	______
J>	Adequacy of financial reporting
		including actual to budget
		reporting system.			______	______	______
K>	Overall management of accounting
		system.			______	______	______
L>	Adequacy of restricted funds
		accounting and reporting			______	______	______
M>	Adequacy re use of computer
		for finances.			_______	_______	______
N>	Attention to cash flow management				_______	_______	_______
	Tranx Processing Systems:
O>	Received on Acct - & to Bank				______	______	______
P>	Donation Acctg System				_______	_______	_______
Q>	Purchases/Payables and
		Disbursements-signatures			______	______	______
R>	Payroll				______	______	______
S>	Journal Entries				______	______	______
T>	Bank Reconciliation				______	______	______
U>	Fixed Assets Accountability				______	______	______
V>	Restricted Funds				______	______	______
W>	Overall distribution of work functions
		to insure adequate financial