10 New bond
Your bond passed. Here is what the money needs next.
Congratulations on the vote. Over the next few months the bonds will sell, the first pay applications will arrive, and someone in your office will have to keep the books on all of it in a form your board and your auditors can rely on. We do that work for school districts in any state, remotely, and your staff keeps approving everything.
10.1 What we do each month
Every bond dollar posted and tied out
Your office forwards the check runs it already prints. Your contractors copy us on their pay applications. From there:
- Every bond fund payment posted from the district's own register and tied to the penny
- Pay applications and change orders checked against the contracts and purchase orders
- Anything that does not match flagged to you, with the figures side by side
- A short report each month
- A board packet each quarter, written for board members, not for accountants
- A closeout reconciliation of the whole program
10.2 Who stays in charge
Your staff keeps approving everything
We do not approve payments and we do not hold the checkbook. Your business office keeps every approval it has today. We take the reconciling and the report writing off their plate, and the board gets a set of numbers that is independent of the construction manager's.
Stoner Advisory Group is run by John Stoner, who spent more than 30 years in school districts, and his son Eric and daughter Sarah, out of Rochester Hills, Michigan. We do not design and we do not build, and we hold no stake in the architect's drawings or the construction manager's contracts.
Thank you. The packet is on its way.
A principal of the firm sends the sample board packet, usually within one business day. If it has not arrived by then, check your junk folder or email [email protected].
10.3 The sample packet
See what your board would get each quarter
Copper Falls Community Schools is a district we made up for demonstrations. Every figure in its board packet is invented. The layout, the checks and the way the numbers tie out are what a real board gets from us each quarter.
Fill in the form and we will send it to you. If you would rather see your own district's numbers in that layout, say so in the message and we will talk through what that takes.
Rather talk first?
A 30-minute call with our principal and partners about where your program stands and what independent reporting would look like for it.