09 Program controls
Every bond dollar posted, tied out and reported
We post every payment on your bond program once, from the district's own register, tie it to the penny, and report it to the board independently of the construction manager. The work is done remotely, for school districts in any state, on its own or alongside an owner's representative.
09.1 What the engagement covers
The district's books, checked every month
- Every bond fund payment posted once from the district's register and tied to the penny
- Pay applications and change orders checked against the contracts and purchase orders
- Every cost coded to the district's own chart of accounts and to the right building
- A monthly board report: budget, commitments, changes, paid to date and balance to complete
- A closeout reconciliation of the full program
09.2 How we do it
BondControls, operated by the firm
The work runs on BondControls, the proprietary technology Stoner Advisory Group built and operates for bond programs. The district does not buy or run anything. It receives a professional service, and the principals who run the controls answer for the numbers.
09.3 Engagement terms
One fixed monthly professional fee
- One fixed monthly professional fee for program financial controls and reporting, set by the voter-approved bond amount
- The engagement covers the bond program's projects, from setup through closeout. Cancel at any time with 30 days' notice.
- Setup and a set number of hours each month are included. Additional hours on bond projects are billed with the monthly fee.
- Work outside the bond program is invoiced separately, to the general fund.
- No per-seat charges
- No setup fee
- Twelve months of backfill included
09.4 Paying for it
A professional fee, in the category districts already use
This fee is invoiced the way districts invoice their owner's representative and other program professionals, as one line for professional services. What bond proceeds may pay for differs from state to state, so ask your bond counsel to confirm the coding before the first invoice. We will supply whatever they need.
If the fee is more than a program can carry, we will scope the engagement smaller or start later. We never charge a share of what the controls find.
09.5 The fee
Set by the voter-approved bond amount
| Voter-approved bond amount | Monthly fee | Setup hours | Hours each month |
|---|---|---|---|
| Under $20 million | $1,500 | 10 | 5 |
| $20 million to under $50 million | $2,000 | 15 | 6 |
| $50 million to under $100 million | $3,000 | 20 | 8 |
| $100 million to under $200 million | $4,000 | 25 | 10 |
| $200 million and over | $5,000 | 30 | 12 |
What the included hours cover. Hours are work performed, logged to the quarter hour and reported in every monthly report.
Setup hours (one time): setting up the program inbox, mapping the district's buildings, categories and chart of accounts, linking purchase orders to projects, opening budget positions, and backfilling the first twelve months of history. The pool is used once and does not reset.
Hours each month: posting pay applications and change orders, working the exception checks, mapping new purchase orders and vendors, clearing lines that do not tie to the register, and reconciling to the district's purchase order listing. Unused hours do not roll over.
Anything beyond these is billed at the hourly rates below. That includes history before the first twelve months, a second register format, and in-person board presentations.
Additional hours, if you ask for more
- Data entry: $75 an hour
- Consulting: $150 an hour
- Principal time: $185 an hour
Engage Stoner Advisory Group
Tell us the district, the state, the voter-approved amount and where the program stands, and we will send the engagement agreement with the fee filled in.