PI 49.03(6)(b) (b) The notice shall be filed no earlier than the beginning of the school year.

PI 49.03(6)(c) (c) The notice shall be completed by an authorized member of the accrediting agency.

PI 49.03(7) (7) State superintendent approval. Annually by the first weekday in March preceding the school year of participation, a school seeking approval as a private school by the state superintendent under s. 115.7915 (2) (c), Stats., shall file with the department a special needs scholarship program private school requirements form demonstrating the school meets all of the requirements under s. 118.165 (1), Stats.

PI 49.03 Note Note: The special needs scholarship program private school requirements form may be obtained at no charge from the Wisconsin department of public instruction’s webpage at http://dpi.wi.gov/sms/special-needs-scholarship.

PI 49.03 History History: EmR1619: emerg. cr., eff. 6-2-16; CR 16-005: cr., Register October 2016 No. 730, eff. 11-1-16; EmR1630: emerg. cr. (3) (e), r. (5) (d), am. (6) (intro.), (a) 3., cr. (7), eff. 11-1-16; CR 16-066: cr. (3) (e), r. (5) (d), am. (6) (intro.), (a) 3., cr. (7) Register April 2017 No. 736, eff. 5-1-17; EmR1815: emerg. cr. (3) (bm), r. and recr. (4), am. (5) (a) (intro.), (6) (intro.), (a) (intro.), 4., (b), (c), eff 7-1-18; EmR1911: emerg. am. (3) (intro.), (b) 1., 3., cr. (3) (bm), am. (3) (d), r. and recr. (4), am. (5) (a) (intro.), (b) (intro.), (6) (intro.), (a) (intro.), 4., (b), (c), (7), eff. 7-1-19; CR 19-095: am. (3) (intro.), (a), (b) 1., 3., cr. (3) (bm), am. (3) (d), r. and recr. (4), am. (5) (a) (intro.), (b) (intro.), (6) (intro.), (a) (intro.), 4., (b), (c), (7) Register March 2020 No. 771, eff. 4-1-20; correction in (4) (c) 1. made under s. 35.17, Stats., Register March 2020 No. 771.

PI 49.04 PI 49.04 Financial information and surety bond.

PI 49.04(1) (1) Definitions. In this section:

PI 49.04(1)(a) (a) “Initial expected payment” means a school’s expected scholarship payment amount based on the total of the following:

PI 49.04(1)(a)1. 1. The full-time equivalent for pupils expected to participate in the special needs scholarship program multiplied by the per pupil payment amount determined under s. 115.7915 (4m), Stats. The full-time equivalent for the pupils in this subdivision shall be based on the number of scholarships identified as available in the school’s notice of intent to participate filed under s. PI 49.03 (3).

PI 49.04(1)(a)2. 2. The expected summer school payment for pupils participating in the special needs scholarship program based on the expected number of special needs scholarship program pupils that will participate in summer school identified in the school’s notice of intent to participate filed under s. PI 49.03 (3).

PI 49.04(1)(b) (b) “Revised expected payment” means a school’s expected scholarship payment amount calculated as the total of the following:

PI 49.04(1)(b)1. 1. The full-time equivalent for pupils expected to participate in the special needs scholarship program multiplied by the per pupil payment amount determined under s. 115.7915 (4m), Stats. The full-time equivalent for the pupils in this subdivision shall be based on the number of scholarships identified as available in a revised school information update form filed under sub. (5).

PI 49.04(1)(b)2. 2. The expected summer school payment for pupils participating in the special needs scholarship program based on the expected number of special needs scholarship program pupils that will participate in summer school identified in the school’s notice of intent to participate filed under s. PI 49.03 (3).

PI 49.04(1m) (1m) Financial requirements. If a school’s initial expected payment is at least $50,000, the school shall do one of the following:

PI 49.04(1m)(a) (a) Annually by the first weekday in June prior to the school year, file a bond with the department payable to the state of Wisconsin equal to 25 percent of the initial expected payment.

PI 49.04(1m)(b) (b) Annually by the first weekday in March prior to the school year, file financial information with the department that demonstrates that the school has the ability to pay an amount equal to the initial expected payment, including all of the following:

PI 49.04(1m)(b)1. 1. 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 49.04(1m)(b)1.a. a. Anticipated enrollments for all pupils enrolled in the school.

PI 49.04(1m)(b)1.b. b. Anticipated enrollments for special needs scholarship program pupils.

PI 49.04(1m)(b)1.c. c. Estimated total revenues and costs.

PI 49.04(1m)(b)1.d. d. Estimated amounts required under s. PI 49.09 (3) (a) and (b).

PI 49.04(1m)(b)1.e. e. A schedule of anticipated beginning and ending net assets.

PI 49.04(1m)(b)1.f. f. Anticipated beginning and ending reserve balance.

PI 49.04(1m)(b)2. 2. A statement of whether the school has any past due amounts, interest, or penalties due to the U.S. internal revenue service, the Wisconsin department of workforce development, or the Wisconsin department of revenue. An amount must be disclosed even if it is in dispute. If a school has past due amounts, interest, or penalties due to a government entity, the school shall do all of the following:

PI 49.04(1m)(b)2.a. a. Disclose to the department the outstanding amount owed.

PI 49.04(1m)(b)2.b. b. File with the department statements or other correspondence from the government entity stating the amount the government entity claims is due, the amount in dispute, and nature of the amount due.

PI 49.04(1m)(b)3. 3. The most recent balance sheet and income statement for the legal entity of the school.

PI 49.04(1m)(b)4. 4. Bank statements for all cash and investment accounts included in the balance sheet required under subd. 3.

PI 49.04(1m)(b)5. 5. Any other information required by the department to determine the financial position of the school.