(A) A management company that receives more than twenty per cent of the annual gross revenues of a community school shall provide a detailed accounting including the nature and costs of goods and services it provides to the community school. This information shall be reported using the categories and designations set forth in divisions (B) and (C) of this section, as applicable.

Terms Used In Ohio Code 3314.024

  • management company: means either of the following:

    (a) An individual or organization that manages the daily operations of a community school pursuant to a contract between the operator or management company and the school's governing authority;

    (b) A nonprofit organization that provides programmatic oversight and support to a community school under a contract with the school's governing authority and that retains the right to terminate its affiliation with the school if the school fails to meet the organization's quality standards. See Ohio Code 3314.02

  • Property: means real and personal property. See Ohio Code 1.59

(B) The detailed accounting shall include the following categories of expenses for each designation as set forth in division (C) of this section:

(1) Aggregate salaries and wages;

(2) Aggregate employee benefits;

(3) Professional and technical services;

(4) Property services;

(5) Utilities;

(6) Contracted craft or trade services;

(7) Tuition paid to other districts;

(8) Transportation;

(9) Other purchased services;

(10) Supplies;

(11) Land;

(12) Buildings;

(13) Improvements other than buildings;

(14) Equipment;

(15) All other capital outlay;

(16) Principal;

(17) Interest;

(18) Judgments;

(19) Other direct and indirect costs.

(C) The expenses set forth in division (B) of this section shall be disaggregated according to the following designations, as applicable:

(1) Regular instruction;

(2) Special instruction;

(3) Vocational instruction;

(4) Other instruction;

(5) Support services;

(6) Noninstructional activities.

(D) The information provided pursuant to this section shall be subject to verification through examination of community school records during the course of the regular financial audit of the community school.

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