PI 35.13(11)(11) Fidelity bond. A school shall have a fidelity bond indemnifying the school against loss resulting from dishonesty, malfeasance, or neglect by owners, officers, and employees. PI 35.13(13)(13) Management letter review. An auditor shall review the management letter required under s. 119.23 (7) (am) 2m. a., Stats., and determine whether a school has properly remediated any concerns raised by the auditor in the letter. If the auditor determines a concern has not been properly remediated by the school, the auditor shall include the following in the report: PI 35.13(13)(b)(b) The action the school has taken to remediate the concern. PI 35.13(14)(14) Fiscal and internal control practices report. A school shall engage an auditor to submit a report to the department by December 15 attesting to the school’s compliance or non-compliance with the fiscal and internal control practices required in this section. The report shall meet all of the following requirements: PI 35.13(14)(a)(a) The report shall be prepared in accordance with professional standards and identify the procedures agreed upon by the auditor and the department that were used in determining compliance or non-compliance. In making such a determination, the auditor shall not rely on oral or written representations of the school’s management or staff. PI 35.13(14)(b)(b) If the auditor determines that the school has not complied with the fiscal and internal control practices in subs. (1) to (12), the report shall include a letter from the school describing the reasons for noncompliance and the corrective action the school is taking. PI 35.13 NoteNote: The fiscal and internal control practices report may be obtained at no charge from the Wisconsin department of public instruction’s webpage at http://dpi.wi.gov/sms/choice-programs. PI 35.13 HistoryHistory: CR 16-004: cr. Register July 2016 No. 727, eff. 8-1-16; correction in (1) (intro.) made under s. 35.17, Stats., Register July 2016 No. 727; CR 19-120: am. (2) (intro.), cr. (2) (a) 7., am. (2) (b) (intro.), (4) (a), renum. (4) (c) to (4) (c) (intro.) and am., cr. (4) (c) 1. to 3., r. (10), cr. (10m), am. (14) (b) Register May 2020 No. 773, eff. 6-1-20. PI 35.14PI 35.14 First time participant financial requirements. PI 35.14(1g)(a)(a) “Initial expected payment” means a school’s expected payment amount calculated as the total of the following: PI 35.14(1g)(a)1.1. The full-time equivalent for pupils participating in a program under ss. 118.60 and 119.23, Stats., multiplied by the per pupil payment amount determined under ss. 118.60 (4) and 119.23 (4), Stats. The full-time equivalent for the pupils in this subdivision shall be based on the available seats in each program under ss. 118.60 and 119.23, Stats., in a school’s notice of intent to participate filed under ss. PI 35.03 (3) and 48.03 (3) or the new private school participation information submitted under ss. PI 35.04 (2) and 48.04 (2). PI 35.14(1g)(a)2.2. The expected summer school payment for pupils participating in a program under ss. 118.60 and 119.23, Stats., based on the expected number of choice program pupils that will participate in summer school identified in the school’s notice of intent to participate filed under ss. PI 35.03 (3) and 48.03 (3) or the new private school participation information submitted under ss. PI 35.04 (2) and 48.04 (2). PI 35.14(1g)(b)(b) “Revised expected payment” means a school’s expected payment amount calculated as the total of the following: PI 35.14(1g)(b)1.1. The full-time equivalent for pupils participating in a program under ss. 118.60 and 119.23, Stats., multiplied by the per pupil payment amount determined under ss. 118.60 (4) and 119.23 (4), Stats. The full-time equivalent for the pupils in this subdivision shall be based on the pupils participating in a program under ss. 118.60 and 119.23, Stats., reported in the school’s pupil count report for the third Friday in September required under ss. PI 35.06 (8) and 48.06 (8). PI 35.14(1r)(1r) May 1 requirements. By May 1 of the school year immediately preceding the first school year in which a first time participant school intends to participate in the choice program, a first time participant shall participate in a fiscal management training program approved by the department and fulfill the requirements under sub. (3) or (4). PI 35.14(3)(3) Budget requirement. A school that selects the budget and cash flow report option shall submit to the department all of the following: PI 35.14(3)(a)(a) A budget and cash flow report, on a form provided by the department, for the following school year that contains all of the following: PI 35.14(3)(a)1.1. Anticipated enrollments for all pupils enrolled in the school.