Glossary
Charter School Governance Glossary
Key terms and concepts every charter school board member should know. From fiduciary duty to charter renewal, understand the language of governance.
A
Annual Audit
A yearly independent examination of a charter school's financial statements and internal controls, required by state law.
Authorizer
The entity that grants a charter, oversees the school's performance, and decides whether to renew or revoke the charter.
Average Daily Attendance
A method for calculating student enrollment used to determine state per-pupil funding allocations.
B
Board Chair
The presiding officer of the board of directors, responsible for leading meetings and ensuring effective governance.
Board Governance
The system of rules, practices, and processes by which a board of directors oversees and directs an organization.
Board Self-Evaluation
A periodic assessment process in which the board reviews its own performance, effectiveness, and governance practices.
Bylaws
The internal rules adopted by a charter school's board that govern how the organization operates and makes decisions.
C
Charter Agreement
The formal contract between a charter school and its authorizer that defines the school's mission, terms of operation, and performance expectations.
Charter Renewal
The process of extending a charter school's operating contract with its authorizer for an additional term.
Charter Revocation
The involuntary termination of a charter school's authorization to operate, typically due to serious performance or compliance failures.
Compliance
The ongoing process of adhering to all applicable laws, regulations, and organizational policies.
Conflict of Interest
A situation in which a board member's personal, financial, or professional interests could improperly influence their official decisions.
Corrective Action Plan
A formal, written plan that outlines specific steps a school will take to address identified deficiencies within a set timeline.
D
Duty of Care
The obligation to make informed, diligent decisions on behalf of the organization.
Duty of Loyalty
The obligation to prioritize the organization's interests over personal interests.
Duty of Obedience
The obligation to comply with applicable laws, regulations, and the organization's governing documents.
F
FERPA
The Family Educational Rights and Privacy Act, a federal law protecting the privacy of student education records.
Fiduciary Duty
The legal obligation to act in the best interest of the organization and those it serves.
Fiduciary Responsibility
The broader obligation of board members to exercise prudent financial and legal stewardship over the organization's resources.
Fund Balance Ratio
A financial health metric that measures a school's available reserves as a percentage of its total operating expenses.