Common use of Points Available Clause in Contracts

Points Available. Meets Standard:  The school complies with all applicable laws, rules, regulations, and provisions of the charter contract relating to financial management and oversight expectations as evidenced by an annual independent audit that includes: o An unqualified audit opinion; o An audit devoid of significant findings and conditions, material weaknesses, or significant internal control weaknesses; o An audit that does not include a going concern disclosure in the notes or an explanatory paragraph; o No other adverse statement indicating noncompliance with applicable laws, rules, regulations, and provisions of the charter contract relating to financial management and oversight. 5

Points Available. Meets Standard:  • The school complies with all applicable laws, rules, regulations, and provisions of the charter contract relating to financial management and oversight expectations as evidenced by an annual independent audit that includes: o An unqualified audit opinion; o An audit devoid of significant findings and conditions, material weaknesses, or significant internal control weaknesses; o An audit that does not include a going concern disclosure in the notes or an explanatory paragraph; o No other adverse statement indicating noncompliance with applicable laws, rules, regulations, and provisions of the charter contract relating to financial management and oversight. 5