TWC Audited Balance Sheet & CSC-016 Services

Financial reporting for Texas career school applications, with appointments in DeSoto and Southlake.

Starting a Texas career school and need an audited balance sheet? Howard Terrell CPA Firm PLLC works with school owners to define the financial reporting engagement described in their Texas Workforce Commission request. We begin with your school’s ownership structure, application timeline and accounting records.

What is Form CSC-016?

CSC-016 describes evidence necessary to establish financial stability for a new career school. The required financial information depends on ownership structure. Bring the current form and any instructions from your TWC representative to your consultation.

Does every school need an audit?

TWC’s published CSC-016 instructions distinguish sole proprietorships from other ownership structures. For a sole proprietorship, the form calls for a reviewed personal balance sheet with specified notes. For other ownership structures, it lists an audited balance sheet or audited financial statements. We review the applicable instructions before proposing the engagement.

Source: TWC Form CSC-016: Evidence Necessary to Establish Financial Stability for a New School.

Plan the balance sheet date with your application

Tell us your expected application submission date and any agency deadline before choosing a statement date. We discuss the required reporting period, statement currency, records available and time needed for the engagement. Scheduling is confirmed after the scope and record readiness are reviewed.

Documents to bring to your audit consultation

The current CSC-016 form, agency correspondence and intended submission date.
Entity formation records, ownership details and school business activities.
A current trial balance, general ledger and proposed balance sheet.
Bank reconciliations, bank statements and documentation of owner funding.
Support for receivables, equipment, leases, loans and other liabilities.
Prior financial statements and details of other accounting services provided by our firm.

From consultation to the independent report

We review the reporting request and independence, agree on scope and fees, and identify the records management must provide. During the engagement, we perform the agreed audit work and evaluate supporting evidence. The report and related financial statement disclosures depend on the results of that work. Management remains responsible for the financial statements and records.

Questions from Texas school owners

Is this the same as an IRS audit?

No. This engagement concerns financial statements for the school’s reporting needs. It is separate from an IRS examination or tax notice.

How much will my audited balance sheet cost?

The fee depends on the entity, reporting scope, accounting records and deadline. Bring your request for a written proposal and retainer terms.

Will an audit guarantee TWC approval?

No. The agency makes its own licensing and financial stability decisions. Our engagement addresses the financial reporting work described in the signed engagement letter.

Meet with a CPA in DeSoto or Southlake

Appointments are available through our DeSoto office and Southlake office, with remote coordination for Texas school owners as appropriate. Tell us about your school and deadline.

Discuss Your School’s Balance Sheet ↗

Call (469) 941-4367 or email hterrell@htcpafirm.com. Request secure delivery instructions before sending financial records.