HomeMy WebLinkAboutRes 16-16 WA Adopting the Revised Operating Budget for Fiscal Year Ending 15-16 and the Budget for Fiscal Year 16-17 WESTLAKE ACADEMY
RESOLUTION NO. 16-16
A RESOLUTION OF THE BOARD OF TRUSTEES OF WESTLAKE ACADEMY TO
ADOPT THE REVISED OPERATING BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2016 AND THE PROPOSED BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2017 INCLUDING INVESTMENT POLICY, FISCAL AND BUDGETARY
POLICIES, COMMITTED AND ASSIGNED FUND BALANCES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF WESTLAKE ACADEMY:
WHEREAS, Section 44.002 of the Education Code of the Texas Education Agency
Texas School Law Bulletin states the budget must be prepared according to generally accepted
accounting principles, and
WHEREAS, the budget must be approved by the Board of Trustees prior to August 31 st
according to Texas Education Agency's Financial Accountability System Resource Guide,
Section 2.6.2—TEA Legal Requirements; and
WHEREAS, the Board of Trustees held a Public Hearing on August 10th, 2016; and
WHEREAS, the Board of Trustees finds that the passage of this Resolution is in the best
interest of the citizens of Westlake as well as the students, their parents, and faculty of Westlake
Academy.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE WESTLAKE ACADEMY:
SECTION 1: That, all matters stated in the recitals hereinabove are found to be true and
correct and are incorporated herein by reference as if copied in their entirety.
SECTION 2: That the Board of Trustees hereby adopts the revised Westlake Academy
Operating Budget for the fiscal year ending August 31, 2016 and the proposed Westlake
Academy Annual Operating Budget for the fiscal year ending August 31, 2017 and appropriates
the funds contained therein attached to this resolution as Exhibit "A':
SECTION 3: That the Board of Trustees hereby adopts the Fiscal and Budgetary
Policies, Investment Policies, and the Committed and Assigned Fund Balance designations that
are also included in Exhibit A.
SECTION 4: That a copy of the official adopted 2016-2017 Budget shall be kept on file
in the office of the Town Secretary.
WA Resolution 16-16
Page 1 of 2
SECTION 5: If any portion of this resolution shall, for any reason, be declared invalid
by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions
hereof and the Council hereby determines that it would have adopted this Resolution without the
invalid provision.
SECTION 6: That this resolution shall become effective from and after its date of
passage.
PASSED AND APPROVED ON THIS 10" DAY OF AUGUST, 2016.
4110
Laura Wheat, President
ATTEST:
v...._
Kelly Edward , Board Secretary Thomas E. Bryme(IiSperint-endent
APPROVE A TO F
L. nton Low JLeKS. Bubert,
School Attorney
WA Resolution 16-16
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Westlake Academy, IBO Charter School
* 2600 Ottinger Road * Tarrant County, Westlake, Texas 76262
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BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
1. INTRODUCTORY SECTION • 37 Budget Document Structure—explains the budget
document structure required by ASBO for submission for the
• 01 Transmittal Letter-This section is written to the Board of Meritorious Budget Award.
Trustees by the Superintendent and provides a high-level
preview of the Academy's budget.It contains information • 39 Budget Overview-This section explains the meaning
including fund summaries as well short term and long term behind the numbers which are presented in this budget
trends. The letter helps tie together the core elements which document.It gives perspective to the Academy's budgeting
make up the budget and illustrates how those elements process,basis of budgeting and accounting,how the budget is
further the Academy's goals found within the strategic amended and the fund accounting system.
management system.
• Financial Fund Summaries
• 6 Board of Trustees-provide appropriate board oversight of o 45 Financial Forecast Assumptions
the academic program by ensuring that the school's o 46 Governmental Funds Financial Summary
educational program is positively impacting student o 52 General Fund Financial Summary
achievement and by raising strategic academic issues for board o 54 Special Revenue Funds Financial Summary
discussion.
• 55 Service Level Adjustments—This chart tracks our cost
. 7 Leadership Team-Shared Services personnel between the increases or decreases as a request for any dollars in excess
academic and municipal service teams of the Town of of the baseline/target budget.
Westlake.
• 56 Indirect Operating Costs-The Academy operates under a
• 8 Organizational Chart-a diagram that shows the structure of shared service model with the Town of Westlake,whereby the
the Town of Westlake and Westlake Academy and the Town provides Human Resources,Financial,Facilities,and
relationships and relative ranks of its positions. Administrative support services to the Academy.
• 9 Future Ready Students-It is incumbent upon the leadership • 57 Personnel and Staffing-Since salaries make up the
of Westlake Academy to create and foster an environment greatest portion of the expenditure budget,it is logical to
that ensures the future readiness of all students. apply forecasting techniques that can provide a true picture of
where payroll dollars are headed. The Academy uses
• 10 Mission,Vision,Values-communicate the purpose of the forecasting procedures that result in more accurate personnel
Academy and is our road map indicating what we want to expenditure projections.
become.
• 62 Enrollment Boundaries-student enrollment at the
• 11 Westlake Academy Profile—gives a small glimpse into the Academy is established by primary and secondary boundaries.
Academy and provides and understanding of the IBO
Programmes. • 63 Student Enrollment-As an open enrollment charter school,
Westlake Academy can set and maintain enrollment numbers
• 13 Town of Westlake Community Profile-This section at levels determined by the Board of Trustees.
includes statistical and supplemental data that describes the
Town of Westlake and its community. It furnishes a valuable • Performance/Benchmark Data
perspective when reviewing budget issues and making o 64 Benchmark Data
decisions related to Westlake Academy. The goal is to provide o 66 TEA Education Agency Accountability Summary
a context for understanding the decisions incorporated into
the budget document. • Goals and Objectives
o 67 IBO Programme Overview
• 32 Balanced Scorecard System-The Academy has adopted a o 68 Primary Years Programme Goals and Objectives
Strategic Management System(SMS)which drives the way the o 71 Middle Years Programme Goals and Objectives
Town conducts its business.The department directors o 74 Diploma Years Programme Goals and Objectives
contribute to the SMS by developing a corporate business plan
and aligning their yearly budget proposals to that plan. • 76 Parent Survey Results-Westlake Academy routinely
conducts an Annual Parent Survey to help identify any future
• 36 Financial Reporting Entity—Description of GASB Statement needs and to prioritize resource allocation.
No.14
I
BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
• 77 Debt Service and Bond Rating-The Town of Westlake • 97 Budget Overview-This section explains the meaning
owns the land on which the Academy is located and all behind the numbers which are presented in this budget
facilities associated with the school. document.It gives perspective to the Academy's budgeting
process,basis of budgeting and accounting,how the budget is
• 78 Capital Projects-Academy related capital improvement amended and the fund accounting system.
projects are included in the Town Capital Improvement Plan.
• 103 Debt Service and Bond Rating-The Town of Westlake
• 79 Future Policies to be Incorporated—a list of policies from owns the land on which the Academy is located and all
GFOA for school districts to include that will guide the facilities associated with the school.
development of their budget and that are central to a strategic
long term approach to financial management. • 104 Capital Projects-Academy related capital improvement
projects are included in the Town Capital Improvement Plan.
• 105 Indirect Operating Costs-The Academy operates under a
2. ORGANIZATIONAL SECTION shared service model with the Town of Westlake,whereby the
• 83 Board of Trustees-provide appropriate board oversight of Town provides Human Resources,Financial,Facilities,and
the academic program by ensuring that the school's Administrative support services to the Academy.
educational program is positively impacting student
achievement and by raising strategic academic issues for board • 106 Financial Budget Structure-Academy operates as a
discussion. blended component unit of the Town of Westlake and is a
Texas non-profit corporation
• 84 Organizational Chart-a diagram that shows the structure
of the Town of Westlake and Westlake Academy and the • Fund/Account/Department Classifications
relationships and relative ranks of its positions. o 107 Account Coding Structure
o 108 Fund Types and Structure
• 85 Mission,Vision,Values-communicate the purpose of the o 111 Revenue Classifications
Academy and is our road map indicating what we want to o 112 Expenditure Classifications by Function Codes
become. o 115 Expenditures Classification by Object Code
o 116 Relationship between Funds and Departments
• 86 Financial Reporting Entity-Description of GASB Statement
No.14 • Academic Policies
o 117 Significant Accounting Policies
• 87 Desired Outcome-Five desired outcomes have been o 119 Future Policies to be Incorporated
identified and linked to the Academy's strategic planning o 121 Fiscal and Budgetary Policies
efforts: o 130 Investment Policy
• 88 Enrollment Boundaries-student enrollment at the
Academy is established by primary and secondary boundaries. 3. FINANCIAL SECTION
• Financial Summaries and Analysis-This section gives an
• 89 Student Enrollment-As an open enrollment charter school, analysis of the amounts between the current year adopted
Westlake Academy can set and maintain enrollment numbers and estimated budget,as well as the variance explanations
at levels determined by the Board of Trustees. between the current year estimated and next year adopted
budget. Several different tables are presented of all fund
• 90 Organizational Structure-The Academy's organizational revenues,expenditures and fund balance amounts.
structure is based on research into management of municipally
owned charter schools and was adopted by the Board in • 137 Financial Forecast Assumptions-The Long-Range
Resolution in December 2009. Financial Forecast takes a forward look at the Town's revenues
and expenditures.Its purpose is to identify financial trends,
• 93 Balanced Scorecard System-The Academy has adopted a shortfalls,and issues so the Town can proactively address
Strategic Management System(SMS)which drives the way the them.
Town conducts its business.The department directors
contribute to the SMS by developing a corporate business plan • 138 General Fund Five Year Forecast—a chart depicting 2
and aligning their yearly budget proposals to that plan. years of history,the proposed year,and 4 years of forecasted
revenues and e3xpenditures.
I I
BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
• All Governmental Funds • 177 Student Enrollment-As an open enrollment charter
* 139 Combined Statement school,Westlake Academy can set and maintain enrollment
* 140 All Governmental Funds Summary numbers at levels determined by the Board of Trustees.
0 141 All Governmental Funds Detail
• Test/Performance/Benchmark Data
• General Fund o 178 TEA Education Agency Accountability Summary
0 142 Combined Statement o 179 Benchmark Data
0 144 Combining Statement o 181 STARR Performance Data
0 145 Schedule of Expenditures
0 148 Revenue and Expenditure Comparison • 185 Parent Survey Results-Westlake Academy routinely
0 149 General Fund 199 conducts an Annual Parent Survey to help identify any future
0 150 Athletic Activities Fund 198 needs and to prioritize resource allocation.
0 151 Transporation/Parking Fund 197
• 186 Personnel and Staffing-Since salaries make up the
• Special Revenue Funds-This section provides a detailed greatest portion of the expenditure budget,it is logical to
spending plan for funds which account for proceeds of specific apply forecasting techniques that can provide a true picture of
revenue sources that are legally restricted for certain where payroll dollars are headed. The Academy uses
purposes. forecasting procedures that result in more accurate personnel
0 152 Schedule of Expenditures expenditure projections.
0 153 Combined Statement
0 154 Combining Statement • Achievements
o 191 Academic Achievements
• 155 Fund Balance Components-Description of GASB o 192 Athletic Achievements
Statement No.54 establishing five components of fund
balance. • 193 Glossary-A glossary is included for any terminology
• 156 Debt Service and Bond Rating-The Town of Westlake (including abbreviations and acronyms)related to finance and
owns the land on which the Academy is located and all accounting,as well as non-financial terms related to the entity.
facilities associated with the school.
. 200 Acronyms—works with the glossary and is a listing of all
• 157 Capital Projects-Academy related capital improvement
abbreviations used within the document.
projects are included in the Town Capital Improvement Plan.
• 201 Academic Calendar—a calendar showing important dates
• Academic Policies
within the budgeted school year.
0 158 Significant Accounting Policies
• 202 Resolution to Adopt the Budget—Ordinance to formally
0 160 Future Policies to be Incorporated
adopt the budget for the next school year.
• Fund/Account/Department Classifications
0 162 Revenue Classifications
0 163 Expenditure Classifications by Function Codes
0 166 Expenditures Classification by Object Code
4. INFORMATIONAL SECTION = �! QvatQ•'"
• 169 IBO Programme Overview
0 170 IB Learner Profile and Attitudes yam•
* 172 Primary Years Programme r��■ y_ �•••
0 173 Middle Years Programme ! ■
* 174 Diploma Years Programme
Know Yvur_Impactt
'k
• 176 Enrollment Boundaries-student enrollment at the
Academy is established by primary and secondary boundaries.
III
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ASSOCIATION OF
SCHOOL BUSINESS OFFICIALS
INTERNATIONAL
This Meritorious Budget Award is presented to
WESTLAKE ACADEMY
INTERNATIONAL BACCALAUREATE WORLD SCHOOL
For excellence in the preparation and issuance
of its school entity's budget
for the Fiscal Year 2014-2015.
The budget adheres to the principles and standards
of ASBO International's Meritorious Budget Award criteria.
MEfuTORYous
�d
Terrie S.Simmons, RSBA, CSBO John D. Musso, CAE, RSBA
President Executive Director
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MERITORIOUS BUDGET AWARD
Westlake Academy has been awarded the Meritorious Budget Award by the Association of
School Business Officials (ASBO) for the preparation and issuance of the 2015-2016 annual
budget. They have received this award since September 1, 2010.
This award is the highest form of recognition and a significant
achievement that reflects the commitment of the governing body ~
and staff in meeting the highest principles of academic budgeting.
ri
The Meritorious Budget Award (MBA) recognizes school districts
that demonstrate proficiency in creating clear, sound budgets
while enhancing skills in developing, analyzing, and presenting a clear and effective budget.
To receive this award, Westlake Academy must publish a budget document that meets
program criteria such as
• Understanding the importance of presenting an accurate and transparent budget year
after year.
• Discovering best practices in budgeting that will improve MERITORIOUS
your budget's accuracy and transparency
• Developing a reader-friendly document that presents GJ _
clear budget guidelines. ' �.
• Promoting communication between departments and
the community.
• Encouraging short and long-range budget goals.
• Supporting effective use of educational resources.
Congratulations to Debbie Piper, Finance Director; Jaymi Ford, Finance Supervisor; Joel Enders,
Management Intern; Dr. Mechelle Bryson, Executive Director and the Academic Leadership
Team for preparing this award-winning budget for Westlake Academy.
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GOVERNMENT FINANCE OFFICERS ASSOCIATION
Distinguished
Budget Presentation
Award
PRESENTED TO
Westlake Academy
Texas
Far the Fiscal Year Beginning
September 1, 2016
Executive Director
The Government Finance Officers Association of the United States and
Canada (GFOA) has presented a Distinguished Budget Presentation Award
to Westlake Academy for its annual budget for the fiscal year
beginning September 1, 2016.
To receive this award, a governmental unit must publish a
budget document that meets program criteria as a policy document, as
an operations guide, as a financial plan, and as a communication device.
This award is valid for a period of one year only. We believe our current
budget continues to conform to program requirements, and we are submitting
it to GFOA to determine its eligibility for another award.
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DISTINGUISHED BUDGET PRESENTATION AWARD
The Government Finance Officers Association of the United States and Canada (GFOA) presented a Distinguished
Budget Presentation Award to the Westlake Academy Board of Trustees for its annual budget for the fiscal year
beginning September 1, 2016. They have received this award since September 1, 2009. To receive this award, the
Westlake Academy must publish a budget document that meets program criteria shown below.
THE BUDGET AS A POLICY DOCUMENT
• This criterion involves including a Westlake Academy-wide statement of budget policies, goals and
objectives for the year, and an explanation of the budgeting process to the reader, describing the short-
term and operational policies that guide the development of the budget. The criterion also relates to
the longer -term Westlake Academy-wide policies that are expected to continue in effect for several
years. The budget award criterion also requires the inclusion of a budget message and/or transmittal
letter by the Westlake Academy Manager.
THE BUDGET AS A FINANCIAL PLAN
• This criterion involves including an explanation of the financial structure and operations of the Westlake
Academy, and the Westlake Academy's major revenue sources and fund structure. The budget should
contain an all -inclusive financial plan for all funds and resources of the Westlake Academy, including
projections of financial condition at the end of the fiscal year, projections of current year financial
activity, and provide a basis for historical comparisons. The budget should also present a consolidated
picture of all operations and financing activities in a condensed format and an explanation of the
budgetary accounting basis, whether prepared on a generally accepted accounting principles (GAAP)
basis, cash basis, modified accrual basis, or any other acceptable method.
THE BUDGET AS AN OPERATIONS GUIDE
• This criterion involves including information in the document explaining the relationship between
organizational units (departments) and programs; including an organization chart, a description of the
departmental organizational structure and staffing levels, and historical comparisons of staffing levels;
explaining how capital spending decisions will affect operations; providing objectives and performance
measures; and describing the general directions given to department heads through the use of goals
and objectives, reorganizations, statement of functions, or other methods.
THE BUDGET AS A COMMUNICATIONS DEVICE
• This criterion relates to having the budget document available for public inspection; providing summary
information suitable for use by interested citizens and/or the media; avoiding the use of complex
technical language and terminology; explaining the basic units of the budget, including funds,
departments or activities; and disclosing sources of revenues and explanations of revenue estimates and
assumptions. The intent is to enhance the communication aspects of the budget document, so that
information in the budget can be communicated to a reader with a non-financial background. This
award is valid for a period of one year only. We believe our current budget document continues to
conform to program requirements, and we are submitting it to GFOA to determine its eligibility for
another award.
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Return to T.O.C. INTRODUCTORY SECTION
Executive Summary
August 12, 2016
Honorable Board of Trustees,
As Superintendent of Westlake Academy, and in tandem with the administrative teams for both municipal and
academic services, I am pleased to submit for your consideration, the Academic Budget for FY 2016/17.
On behalf of our entire learning community, I would like to thank the Board for their leadership, dedication to
excellence, and their support in making Westlake Academy and the Town of Westlake a truly shining example
of what can be accomplished when people come together with a common purpose: great things can happen!
I . INTRODUCTION
Westlake Academy has faced several challenges and opportunities over the last several years, including
decreased state funding, increased rigor in state assessments, recruitment and retention of legacy teachers,
facility expansion, and unprecedented growth. The students, staff, and faculty have shown an enormous
amount of resiliency and determination to continually hold to our vision and rise to any challenge we have
faced. It is with this in mind that we present this year's budget theme, "Ignite... Innovate... Inspire: Know Your
Impact."
A public school operating budget is legally required to include the Academy's General, Debt Service, and Food
Service Funds. However, the Academy does not maintain a Food Service Fund or a Debt Service Fund, so the
General Fund is the only legally adopted fund. For informational purposes only, budgets for Special Revenue
Funds are included throughout the presentation.
GENERAL FUND BUDGET SUMMARY
Amended Proposed $Increase %Increase
FY 2015/2016 FY 2016/2017 (Decrease) (Decrease)
n=&
Revenues $ 7,956,657 $ 8,399,173 $ 442,516 6%
Expenditures (8,803,848) (8,397,745) 406,103 -5%
Excess Revenues Over(Under)Expenditures (364,766) 1,428 366,194 -100%
Fund Balance Beginning 1,482,157 1,117,391 (364,766) -25%
Fund Balance Ending 1,117,391 1,118,819 1,428 0%
Assigned 11,000 11,000 - 0%
UND BALANCE ENDING(Unassigned) $ 1,106,391 $ 1,107,819 $
#Days Operating(Based on 365) 49 48 (1) -2%
Daily Operating Expenditure 22,424 23,008 $584 3%
Students Enrolled 825 866 41 5%
TEA Funding per Student $7,185 $7,241 $56 1%
Operating Cost per Student $10,087 $9,697 -$389 -4%
Teachers 63.4 63,8 (0.4) -1%
Student/Teacher Ratio 13.0 13.6 0.6 4%
The Town of Westlake finds itself in the "vortex" of one of DFW's most desirable executive housing corridors -
located along State Highway 114. With growth now arriving in full force, it becomes imperative that we not only
understand and deal with the changes that are now occurring, but also understand the impact that future
potential growth.
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Executive Summary
II. THE CHALLENGES
OUR LOCAL CHALLENGES ALSO CONTINUE, AND INCLUDE:
Westlake's Permanent Population Growth: This is the portion of our population considered to be our
permanent residents. From the 1990 population of 185 to 2015's population of 1,200 represents an
increase of 449%equal to 1,015 additional residents. We will need to continue to monitor and plan for
the continued increase in these numbers considering Forging Westlake's forecast of 7.12% population
growth between now and 2040.
Continued Impact of Westlake Academy on Residential Growth:The number of Westlake residents who
are selecting Westlake Academy as the educational choice for their students has doubled in the past five
years. Resident surveys continually indicate that the Academy is one of the main reasons our residents
move to Westlake, and why they plan to remain in our community. For example,the 2015 academic
services survey results indicate 96%of the new residents say enrollment at Westlake Academy was
very/somewhat important to their decision to live in the community. Planning for Academy growth in the
face of residential development continues to be a challenge. Wherever possible,the Town has entered
economic development agreements with residential developers to provide funding for Westlake Academy
facilities to lessen the impact of their residential development on the Academy's enrollment.
Westlake Academy has experienced steady enrollment growth from 491 students in SY 2009-10 to a
projected 866 in SY 2016-17.The current increase of student population is a result of the Phase I
expansion efforts on the Academy campus and our development. Our growth requires that we carefully
manage our student enrollment processes to provide adequate space for children of Westlake residents.
Approximately 39,000 sq. ft. of new facilities space was opened at the Academy in SY 14/15. It was
comprised of a secondary classroom building,field house, and a primary years' multi-use hall. These
buildings increased our capacity and allowed for decompression of our current school facilities. The
lottery waiting list for student admissions from our secondary boundaries continues to grow from 705 in
2011 to approximately 2,250 students for this coming school year.
Public Education Funding Shortfall: State funding of public education was decreased by the State
Legislature in 2011. While it has increased somewhat since then,the allocation has not kept pace with
basic cost increases. This negatively impacts Westlake since it owns and operates our public charter
school, Westlake Academy, which receives 80%of its operational funding from the State.
The municipal government continues to allocate significant resources to the Academy to deal with State
funding limitations, maintain high quality educational services, provide for the Academy's facilities and
support services, as well as preserve student slots for Westlake residents as we grow residentially.
Additionally,the Westlake Academy Foundation (WAF) raises significant operating funds for the Academy,
without which the school could not operate.
Recently the Texas Supreme Court upheld, after a multi-year lawsuit,the constitutionality of Texas' public
school funding system. For most public schools, including a charter school like Westlake Academy,what
the Court's decision holds for us in the future in terms of the State Legislature possibly increasing State
public school funding remains to be seen.
2
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Executive Summary
Staffing Levels, Insurance Costs, and Retention: Our infrastructure investment must be facilitated in
concert with the consideration of additional staffing needs to maintain our current service levels in
response to growth.This includes keeping our compensation/benefit package competitive to attract and
retain excellent employees so we can continue delivering exceptional service. We have balanced all these
components considering maximizing staff efficiencies and processes to help contain large expenditure
drivers such as employee health insurance.
Continued Emphasis on Long-range Financial Planning:This budget contains an updated Long-Range
Financial Forecast which identifies key revenue and expenditure drivers while assessing historical financial
trends and their potential impact upon the town's financial stability.The forecast must be monitored and
updated during the budget formulation process, as well as reviewed with the Board of Trustees as the
budget is being prepared. Staff will also continue to produce a quarterly financial report for the Board
that monitors and analyzes trends.The report serves as a valuable tool to assist in developing a proactive,
rather than reactive, approach to our changing financial trends.
OUR REGIONAL CHALLENGES CONTINUE TO BE:
DFW Metro Area Employment and Population Growth: Since 1970,the DFW Metro area has grown by
more than 150%-a faster pace than the state and nation. At 9,500 square miles, it is larger in total area
than 5 of our states. With a population of nearly 6.8 million, it is the fourth largest metropolitan area in
the country. Forecasts from the North Central Texas Council of Governments (NCTCOG) predict
employment to grow, in this 12-county standard metropolitan statistical (SMSA) area, by almost 70%over
the next 30 years. Population growth over this same 30-year period is forecast by NCTCOG to be 69%.
This regional growth is impacting Westlake.
Transportation, Mobility,and Traffic Congestion: With the region's population and employment growth,
traffic and the associated congestion has also increased. The recent 2014 amendment to Mobility 2035,
the region's transportation plan, estimates that between now and 2035, an estimated $395.3 billion is
needed to eliminate the worst levels of congestion in our region. However,this plan only identifies$94.5
billion in funding for these projects, meaning that congestion will worsen and mobility will be further
impeded overtime.
III . SHARED SERVICE MODEL
The Academy operates under a shared services model whereby the municipal operations team provides human
resources, financial,facilities, and administrative support services to the Academy. General maintenance and
replacement of infrastructure and equipment is also expensed to the municipal budget.
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Executive Summary
MUNICIPAL INDIRECT COSTS
Amen Adopted Increase
qK, de
Y 2015/16 FY 2016/17 Amount IPercen
Municipal-Transfer to $ 315,000 $ 315,000 $ - 0%
WA Operating Budget
Annual Debt Service 1,858,591 2,033,785 175,194 9%
(Municipal budget)
Major Maint& Replacement 247,920 338,805 90,885 37%
(Municipal Budget)
In-direct Operating Costs 627,641 674,130 46,489 7%
(Municipal Budget)
$ 3,049,152 $ 3,361,720 $ 312,568 10%
As part of the Academy's unique financial structure the Town of Westlake is responsible for debt service
payments associated with Westlake Academy's capital infrastructure. The Municipal Debt Service Fund is used
to manage debt service payments, and Academy debt is accounted for in the annual municipal budget.
Note that there are no major capital projects budgeted or planned through FY 18/19, and future Academy
capital projects discussed in the Town of Westlake's Capital Improvement Plan are currently unfunded, under
discussion only. Additionally, Staff is proposing a discussion with the Board regarding hiring professional
expertise to update the Academy's master facility plan.
IV. FY16/17 GENERAL FUND BUDGET
This budget encompasses all teaching and extra-curricular operating expenditures as well as State public school
funding and private donations used to support the daily operations of Westlake Academy. The FY 16/17 General
Fund budget totals$8,397,745 representing a 5% decrease from the prior year primarily due to the technology
purchase of new laptops for teachers and new iPads for students. These items were purchased with designated
fund balance in FY 15/16.
It is important to note that$125,000 was earmarked in the Academy's fund balance for new laptops,
unanticipated contract expenditures were incurred, as well as additional days for the staff during August. As
such, this year's projections decreased fund balance by$364,766 for an ending total of$1,106,391 (41 operating
days).
Westlake Academy's enrollment increase has been driven by the growth of residential developments and
housing opportunities within the Town of Westlake, a trend projected to continue. With the estimated addition
of 41 students,total enrollment will rise to a projected 866 this school year. This will be the Academy's largest
enrollment to date, exceeding the projections in the school's Facility Master Plan adopted November 12, 2012.
With this trend of growth in the Academy's Westlake resident student population, a corresponding trend will
likely be that overall lottery capacity for secondary boundary students will decline. Growth will be monitored
and managed until additional financial resources become available and the Board of Trustees approves Phase II
of the Facility Master Plan.
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Executive Summary
COMBINED: GENERAL FUND ACADEMIC AND MUNICIPAL SERVICES
mended opte ncrease %Increase
FY 2015/201 FY 2016/2017 11
Operating Expenditures $ 8,503,848 _ $ 8,097,745 $ (406,103) -5%
Municipal-Transfer to WA Operating Budget 300,000 300,000 - 0%
Total Academic Costs 8,803,848 8,397,745 (406,103) -5%
Annual Debt Service(Municipal budget) 1,858,591 2,033,785 175,194 9%
Major Maintenance and Replacement 247,920 338,805 90,884 37%
In-direct Operating Costs 627,641 674,130 46,489 7%
Total Municipal Costs 2,734,152 3,046,720 312,567 11%
GRAND TOTAL $ 11,538,000 $ 11,444,465 $ (93,536) -1%
Number of Students 825 866 41 5%
Total Expenditure Cost per Student $ 13,985 $ 13,215 $ (770) -6%
Over the last year, many hours have been spent to further develop our vision of the future, determining the best
opportunities that lay before us to help accomplish our mission and truly become the "shining school on the
hill." While we have many successes to celebrate, we are constantly striving to improve the Academy through
multiple avenues, including "getting the right people on the bus", making sure that we are consistently taking
measure of our course, and adjusting as we move towards our goal.
It is through our talented faculty, staff, students, and their supportive families,that we can unfailingly rise to
challenges and hold to our vision. The daily operation of the Academy is made possible through our
partnerships with the Town, Westlake Academy Foundation, and our affiliate groups.
As with all good teams, it becomes necessary to draw attention to performers who go above and beyond to
make sure we accomplish our goals. I would like to recognize the hard work of the Academic and Municipal
Leadership Teams, and specifically the Finance Department and Dr. Mechelle Bryson for their efforts in
completing this award winning document. I know with the team we have in place, we will "build a collective
legacy of excellence."
I�L�
Thomas E. Brymer
Town Manager/Superintendent Westlake Academy
"Westrake Academy is an IB (UorldSchoolwhose mission is to provide students with an internationally
minded education of the highest quality, so they are well-6a(anced and respectful Cfe-long(earners."
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Board of Trustees
BOARD OF TRUSTEES
Westlake Academy is governed by a President and a five-member Board of Trustees. Each of the members is
elected for a two-year term, and members currently serve on the Town Council for the Town of Westlake. The
Board of Trustees establishes school policy, approves the Academy's annual operating budget, and serves as
the legislative body of the Academy.
f.. f
a I
I
e
i .
-�4
..i
r
�f I
l
The Board holds regular meetings on one Monday of each month.These meetings typically begin with a work
shop at 5 p.m. and the regular meeting follows at 6 p.m.
All meetings are held at Westlake Town Hall, 1301 Solana Blvd., Bldg.4-Suite 4202, on the second level in the
Council Chambers/Municipal Courtroom.
Front Left to Right
• Alesa Belvedere Term expires May 2018
• Laura Wheat, President Term expires May 2018
• Carol Langdon Term expires May 2017
Back Left to Right
• Rick Rennhack Term expires May 2017
• Michael Barrett Term expires May 2018
• Wayne Stoltenberg Term expires May 2017
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Leadership Team
WESTLAKE ACADEMY LEADERSHIP TEAM
*Thomas E. Brymer Dr. Mechelle Bryson
Superintendent of Schools Executive Principal/Director
*Amanda DeGan Alan Burt
Assistant Town Manager Asst Principal &
Director of Athletics
*Debbie Piper Stacy Stoyanoff
Director of Diploma Years
Finance Principal
*Troy Meyer Dr. Andra Barton
Director of Middle Years
Facilities Principal
*Jason Power Terri Watson
Director of Middle Years
Information Technology Coordinator
*Ginger Awtry Rod Harding
Director of Communications Primary Years
& Community Affairs Principal
*Todd Wood Alison Schneider
Director of Human Resources Primary Years
And Administrative e Services Coordinator
Jennifer Furnish
*Asterisk denotes shared services Student Services
personnel between the academic Administrator
and municipal service teams of Dr. Shelly Myers
the Town of Westlake. Executive Director of the WAF
in & Director of Development
• INTRODUCTORY SECTION
Return to T.O.C. Organization Chart
CITIZENS OF '
Advis
Tewn Texas Student
Attorney Housing
ToWN MANAGER AND WA SUPERINTENDENT
Town Secretary Asst Principal/
Court Assistant Athletic Director
Administrator
Assistant
Deputy Clerk Intern Student Services
Administrator
Marshal Administrative
Facilities Maintenance Staff
/Parks&Recreation
Part Time Finance Nurse
Court Clerks
WA Technician Part Time Clerk
Supervisor
PYP Primary
Court Judge
Principal
Academic — Budget Analyst
PYP
Planning& LCoordinator
Municipal — Development
Primary
Counselor
Human Resources Development
Permit Clerk Coordinator Primary
Teachers
Fire Chief BuildingBuildin
HR Generalist Inspector Interng Librarian
Fire Marshal �4Lieutenants
Information
Technology MYP Principal
EFTFirefighter Public Works
WA Technician ramedics MYP
Coordinator
Technician Coordinator
PT Firefighter Academic
Paramedics Dean
Police Services
(contracted thru the MYP Teachers
City of Keller) Executive Director
Communications W.A.Foundation
Co Principal
Communication
Assistant Coordinator
Specialist
Diploma
Teachers
This organizational chart is a visual depiction of the way work is c
distributed within the Town of Westlake and Westlake Academy. Counselor
It is also meant to be a tool to help enhance our working relationship
with our customers, students and stake-holders,and to clear channels
of communications to better accomplish our goals and objectives.
Return to T.O.C. INTRODUCTORY SECTION
Future Ready Students
FUTURE READY STUDENTS
Preparing students for life in a complex global society is the goal of Westlake Academy's International
Baccalaureate World Education. More specifically,the goal is to create a rigorous college preparatory
program that prepares students for acceptance at the world's most prestigious universities. In addition,
the companion goal is to prepare students to graduate from these universities within five years. As the
United States continues to shift from a goods-based economy to a service-based economy, a college
degree is imperative. It is incumbent upon the leadership of Westlake Academy to create and foster an
environment that ensures the future readiness of all students.
It is important to note that the Westlake Academy's vision statement clearly states that we will inspire
"college bound students to achieve their highest individual potential in a nurturing environment that
fosters the traits found in the IB Learner Profile." At the same time,the Westlake Academy's mission
statement maintains that our"mission is to provide students with an internationally minded education
of the highest quality" while the Westlake Academy's value statements underscore maximizing personal
development and academic excellence. Within Westlake Academy's vision, mission and values, a clear
initiative of college readiness is drawn; coupled with the expectations that all students sit for the IB
diploma creates a need to evaluate Westlake Academy's current pathways to the IB diploma.
To strengthen Westlake Academy's college preparatory program,the Instructional Leadership Team
(ILT) began analyzing the school's course selections and evaluated the need to create a new pathway to
the IB diploma. In our current course guide,there are three ways for students to obtain the IB diploma.
These pathways are through the arts, sciences and economics. We believe that these three pathways
do not adequately meet the needs of all Westlake Academy students. Every year,we have students who
choose a group six course out of default. For example, we have students who take art not because they
have a love for art, but because is simply a choice that they can live with. After several conversations,
the consensus from the ILT was to propose a business management pathway to provide greater access
to the IB diploma for Westlake Academy students.
Our commitment to 100%of Westlake Academy's student sitting for the IB diploma requires that we
create another pathway and more alignment between MYP and DP. Given our physical placement in
the metroplex with Fidelity and Deloitte, a business management pathway is an excellent way to create
a unique sense of place.
It is important to note that each of these conversations regarding a new pathway to the IB diploma was
grounded in the new Westlake Academy strategic plan.
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Mission, Vision, Values
MISSION, VISION & VALUES
Founded in 2003 with a mission to achieve academic excellence and develop life-long learners who
become well-balanced, responsible global citizens, Westlake Academy is the first and only municipally-
owned charter school in the State of Texas.The Academy is the fifth school of only ten in the United
States, and the only public school,to offer the full IB curriculum for grades K-12.
During this year's budget retreat, great care and consideration was given to the mission and vision of
the Academy and the impact that these have on both the long-term goals of the Academy and its day-
to-day operation. The vision and mission statements represent the outcome of this discussion and
evidence the Board's continued dedication to academic excellence and personal achievement. The
values statements are currently being reviewed by the Board and are listed here for reference only.
MISSION
"Westlake Academy is an IB World School whose mission is to provide students
with an internationally minded education of the highest quality,
so they are well-balanced and respectful life-long learners."
a.
VISION
"Westlake Academy inspires college bound students to achieve
their highest individual potential in a nurturing environment
that fosters the traits found in the IB learner profile."
i
Inquirers, Knowledgeable, Thinkers, Communicators, Principled,
Open-minded, Caring, Risk-takers, Balanced, and Reflective—
VALUES �V
■
■� Maximizing Personal Development
• Academic Excellence
Respect for Self and Others ■■
•• Personal Responsibility
Compassion and Understanding ■ ■
■
DESIRED OUTCOMES
The following desired outcomes summarize the goals and objectives
established by the Board of Trustees and leadership staff at the Academy: ■
High Student Achievement
Strong Parent& Community Connections ■
Financial Stewardship&Sustainability
■
■• Student Engagement-Extracurricular Activities
Effective Educators&Staff
10
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Community Profile Academic
OUR VISION WESTLAKE ACADEMY
Westlake Academy
inspires college bound Westlake Academy is an Open Enrollment
students to achieve their Charter School that opened September 1, 2003
highest individual and offers the full IB curriculum for grades K-12.
potential in a nurturing Westlake Academy distinguishes itself among
environment that fosters neighboring educational offerings with a WE KE
',' A — A
the traits found in the IB
Learner Profile: particular focus on producing students who are �
globally minded. k Ilk
ACADEMIC EXCELLENCE SINCE 2003
• Inquirers
• Knowledgeable The programs of the International Baccalaureate
• Thinkers Organization (Primary Years Program, Middle Years Program, Diploma Program)
• Communicator have been selected as the educational model utilized at the Academy. Educational
• Principled technology will be pervasive and will infuse the classroom curriculum.
• Open-Minded
• Balanced g° WOk� Westlake Academy is a premier learning establishment and
• Risk-Takers prides itself on providing a learning environment where
• Caring o o students have the resources and facilities to excel.
• Reflective ' The primary geographic service area for Westlake Academy is
OJ
•�Qnrov��� the town limits of Westlake; students from other locations
may be considered if seats are available.
OUR MISSION
Westlake Academy is an Westlake Academy continues to have excellent academic and extra-curricular
IB World School whose results and is ranked among the best high schools in America.
mission is to provide
students with an STUDENT UNIFORMS
internationally minded The Westlake Academy Dress Code specifically outlines school-approved uniform
education of the highest options for students:
quality so they are well- 0 formal uniforms
balanced and respectful . casual uniforms
life-long learners. acceptable spirit wear
The student uniform standards encourage a productive learning environment in
VALUES which students can focus on learning, appreciate an awareness of others without
• Maximizing Personal distractions, develop character and good citizenship skills, instill respect and self-
Development discipline.
• Academic
Excellence ---
• Respect for Self and `' w►
Others
• Personal
Responsibility <� �` _• .".
• Compassion and
Understanding
Return to T.O.C. INTRODUCTORY SECTION
Community Profile Academic
HOUSE SYSTEM
Westlake Academy has chosen to implement a house system with each student and faculty member assigned
to one of four houses named after people who represent qualities important to and inherent in the WA
mission statement.
While school and team spirit are promoted,the house system also encourages integration, responsibility and
a sense of community. Membership in a house is life-long. Each student should be responsible for the well
being of fellow members and be proud to work for the betterment of the house. Houses will work together
and compete in academic, sporting, service projects and events.All siblings will be assigned to the same
house.
The House System organization and leadership team consists of a House Coordinator and its own leadership
team consisting of a House Captain, Service Captain, PYP Captain, and a Faculty Liaison.The 2016-17 House
Coordinators are Amanda Bunch & Dawnelle Butler.
Keller House
At In 1882, at the age of two, Helen Keller became deaf and blind. Nevertheless, she learned
to read, write and speak. She attended the most prestigious women's university in the
United States and became a spokeswoman for all people with disabilities. She represents
determination,perseverance and passion.
Thoreau House
Henry David Thoreau was a writer,thinker and naturalist. He was one of the country's first
environmentalists. He represents a love of nature,independent thinking and standing up
for one's convictions.
Wheatley House
Sold into slavery at the age of seven, Phillis Wheatley nonetheless learned to read and
write in English, Greek and Latin and published her first poem at the age of thirteen. She
was the United States'first African-American poet. She represents our search for
spirituality and cultural diversity.
Whitman House
Father of free, non rhyming verse in poetic literature, Walt Whitman was truly an
innovator who began his career in the years before the civil war. He used his poetry to
express the distinctive virtues of the American nation. He exalts the democratic spirit and
a love of a country.
. 40
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Community Profile Municipal
THE TOWN OF WESTLAKE PROFILE
Westlake is in the LONE STAR STATE OF TEXAS and is known as the place where the cross timbers meet
the prairie. Westlake boaHolds tales of settlers from the Peters Colony, Indian treaties signed by Sam
Houston, tremendous archaeological treasures, and some of the oldest settlements in North Texas.
In the perspective of Texans it conjures images of
crystal rivers fed from designer spring waters, oak
trees dipped in Spanish moss and prairies awash in
bluebonnets. Wildlife in all its forms and a rich
history embroiders the tapestry.
Other geographical regions mark the coast, the
mountains and basins, the piney woods, the prairies
and plains, the Trans-Pecos region, but all seem tied to
the historical umbilical cord of the Cross Timbers Hill
Country.
Westlake is an oasis of natural beauty that
maintains open spaces in balance with
distinctive development, trails, and quality of life
amenities amidst an ever expanding urban
landscape.
Nestled in the DFW Metroplex,
Westlake is a Gold Level
Scenic City and home to
many small independent
businesses and several
corporate campuses
Distinctive developments and
architecturally vibrant corporate
campuses find harmony among our
meandering roads and trails,
lined with native oaks and stone walls. We are
leaders in education, known for our innovative partnerships
between the Town-operated Charter school and our
corporate neighbors.
We strive to maintain strong aesthetic standards and preserve the
natural beauty in our town. Hospitality finds its home in Westlake, as a
community,we are family friendly,welcoming, fully involved and invested in our rich heritage,
vibrant present and exciting, sustainable future.
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Community Profile Municipal
LOCATION
Westlake is conveniently located between DFW Airport and Alliance Airport, on the south side
of State Highway 114, providing quick, easy access to all areas of the Dallas-Ft. Worth
Metroplex. � G2ek Pack
M �o
The unique location of Westlake is ideal for ooze a�ao� a T"'r*G� 4b
many of its major corporate campuses and
residential communities. A common ideal ��-
cwe Pam
shared by our corporate and individual rq �
residents is their support of the existing R
t' v
character and charm of the community as
well as a commitment to excellence in new
development.
HISTORY OF WESTLAKE
The region has always been known for its natural bounty, its
trade value, and its wonderful people. The Town of Westlake
and northeast Tarrant County has maintained that distinction ��'` e�
over the years, becoming one of the most desirable and XA
sought after places to live in America.
i
Early Settlers... 1847
The Town of Westlake was settled by Charles and Matilda •
Medlin when they arrived in the area with about 20 other •
families in 1847. They initially settled along Denton Creek but
moved south to higher ground after weathering ferocious ,•
floods from the creek. Until 1997, the three-story Medlin barn
was a local historic landmark. When it had to be removed,
after what was believed to be 130 years of use, for safety
concerns. Legends include those of Sam Bass and Bonnie
and Clyde hiding in the barn.
The 1870's...
Dove Road was the cardinal road between Grapevine and
Roanoke. The road took its name from the Dove Community
-_ which was located between the two towns. Dove Road
A originated in the 1870's and got its name from the Lonesome
" Dove Baptist Church located in the community.
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Community Profile Municipal
The 1930's...
In the late 1930s, Ted Dealey, turned his attention to a lush and untouched piece of the Cross Timbers
region. It was there he built a stunning country place designed by prominent architect, Charles
Dilbeck. This place was known as the 220 Ranch. The Dealey Home,which has been relocated to a
new location off Dove Road, is now known as Paigebrooke Farm.
The 1940's- 1950's
It was late in the 1940's after World War II, at about the
same time that Dealey built his home, that Circle T Ranch
had its beginnings with J. Glenn Turner. He used the
place to raise and train Tennessee Walking horses, and as
a retreat and showplace. Circle T Ranch was expanded
throughout the 1950's to approximately 2,300 acres.
In 1955, there were rumors of an attempt to annex Circle
•; T Ranch; as a defensive move, J Glenn Turner organized
the neighboring ranches and homeowners in the
surrounding community into forming their own city.
On the 27th day of December in1956, citizens attended a meeting to declare the Town of Westlake
into existence thru incorporation and to swear in the first Board of Aldermen. The area included
what is known today as Westlake, plus the area north, to the northern shore of Denton Creek. This
northern land was annexed from Westlake and formed the town of Trophy Club in the 1970's.
The Town of Westlake has changed much since its original incorporation in 1956. During the early
years, our mayor and board members met to discuss town business in the comfort of each other's
living rooms-an interesting contrast to how our town operates today.
The 1960's... WR
In 1969, the Circle T Ranch was purchased by
oil millionaire Nelson Bunker Hunt. The ranch
became known for its glamorous parties
attended by celebrities from all over the
The 1970s ...
In the early 1970's, the state decided to name one of Westlake's well-known streets after the person
who was living in the first house on the road. That person was J.T. Ottinger. Also in the early 1970s,
Houston developer and professional golfer Ben Hogan approached Westlake about building a golf
course, country club, and a housing development. In 1973, Westlake deannexed what is now known
as the Town of Trophy Club, clearing the way for the upscale housing development and golf course.
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Community Profile Municipal
The 1980's ...
In the mid-1980s, IBM built Solana, the multi use office
complex. IBM maintained a large presence for over
10 years. At that time, several of the office buildings
became available for use by other corporations.
' Eventually, IBM sold its partnership interest.
The 1990's ...
In 1989, Nelson Bunker Hunt declared
bankruptcy and the Circle T Ranch was rll�frorth Star-Telegram
purchased by Ross Perot Jr. in 1993. In
1997, to the dismay of residents, there was
an attempt to dissolve the Town of
Westlake. Many court battles, including
appeals to the Texas Supreme Court,wereIS ��'�be dl."sanrlexed +
waged as emotions rose. Ultimately Town Tly _
leadership prevailed. In 1999, the Town
hired the first professional manager to
oversee operations.
2000 The Westlake Historical Preservation Society was established for the purpose of recording
and preserving the rich history of the Town of Westlake.
VIP's and residents of Westlake gather at the site of the new Westlake Academy to help
raise the first wall of the school. Westlake approved the purchase of the first fire truck and
ambulance. Westlake Historical Preservation Society holds the first Annual Decoration
Day on Memorial Day. Westlake Academy opens.
2006 Celebrations began to commemorate the 50th anniversary of the incorporation of
Westlake in December 1956.
2007 The Town of Westlake dedicated and sealed a time capsule containing a variety of
special items. This time capsule will remain sealed until September 8, 2057, during the
town's 100th anniversary celebration.
2009 Deloitte University announces Westlake as the site for its $300 million learning and
leadership center. Westlake Academy Arts &Sciences Center was completed.
2010 Westlake's first gas well was successfully drilled in Solana.
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Community Profile Municipal
2011 New retail growth began along the Town's western boundary with construction of a new
Quick Trip convenience store and a Centennial Fine Wine & Liquor store.
2013 The Town's open enrollment charter school, Westlake Academy, completed its 1 Oth year
of operations. Completed construction on the State's$15 Million Phase 1 FM 1938 project.
2014 Installation of a secondary ground storage water tank. Completed Phase I expansion
construction of three buildings on the Westlake Academy campus that will
accommodate new students.
2015 Work began on Granada, a new 84 home housing development, and Entrada, a mixed-
use development modeled after historic villages in Spain.
2016 Charles Schwab Corporation,working with major Westlake land owner and developer
Hillwood Properties, announced their intention to build a regional headquarters which will
be adjacent to a mixed use development that Hillwood will develop located near the
intersection of SH 170 and SH 114.
HISTORIC PRESERVATION
There are few gifts more taken for granted than our heritage. We've all kept the old photographic
albums or maybe even been fortunate enough to have recovered a piece of wood from the house
our great-grandmother was born in. Apart from the relics and stories passed down from generation
to generation, there is little effort made in today's frantic world to preserve and protect our
community heritage. As we grow older, few of us have not paused on ocasion and wished that
certain memories could somehow be crafted and professionally woven into a legacy rather than
relegated to the yellowing pages of the picture album.
With such thoughts in mind, The Westlake Historical Preservation Board was created to discover,
preserve and perpetuate the history of our town and region that is, after all, composed of family
histories. We owe a debt of gratitude to the local volunteers whose work reflects the fact that our
past is as much a guide to our future as it is a trail to our present.
Westlake, a new town in an old locale, has
determined that history will have a place in town
government by creating a historical board. We
invite you along the trails, traces, side roads, and
by-ways of long ago. And we can't forbear to
remind you that "the best paths always lead
home;" that we are all pathfinders, in one way or
another.
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Community Profile Municipal
HISTORICAL MARKERS IN WESTLAKE
Westlake i5 also on a journey toward its own destiny that will be unlike any
other of the towns around it-better, richer because Westlake will take into
Board members of the account its past in charting its future. The folk of yesterday are gone and 5o
Westlake Historical i5 mo5t of the evidence proving they were here. They are remembered only a5
Preservation Society long a5 there are rememberer5. When even memories are gone, there i5
researched eight significant precious little-an old house here or there, small cemeteries with head5tone5
locations recently nominated askew, historical plagues, old-timey things in museums,photographs, bits of
for historical markers. The
poetry, recipes and old letters with the musty Smell of time,documents from
Town Council unanimously court house records, words trapped in newspapers, magazines or books.
approved a historical marker
master plan at the Junel3th WESTLAKE AND THE
�e
2011 meeting which `' CROSS TIMBERS
identified the sites and place
markers. This marker stands next to the loop
parking lot in front of the Westlake
Academy on IT Ottinger Road.
The sites are in the heart of Our history begins in a distinctively
Westlake and on highly unique geographic region of North Central Texas, the Cross Timbers. Early
traveled roads. Instead of explorers and travelers noticed the area because of the extended groves of
going through the State to oak trees bordered with stretches of open prairie. As early as 1832,
receive the designated Washington Irving described it in a Tour of the Praries: "I shall not easily forget
the mortal toil, and the vexations of flesh and spirit, that we undertook
plaques, the Town will take occasionally, in our wanderings through the Cross Timber. It was like
on the project. The Texas struggling through forests of cast iron."The Cross Timbers region extends
Historical Marker across parts of Kansas, Oklahoma, and Texas. From a map, it may be seen
application process requires that the region runs in irreular vertical lines, a little like icing running down the
exhaustive research and sides of a cake. Benjamin Tharp writings described the area as timbered
islands amid lakes of grass called oak savannas, a name that refers to
documentation for potential wooded areas broken by stretches of grasslands. Hence, describing our
sites and can take up two to home Westlake, Texas."
three years.
The rock chimney from the original Buck
r
King homestead still standing at Pearson
Lane and Aspen Lane. Pearson Road was
TEXAS known as Buck King Road. y.
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Community Profile Municipal
WESTLAKE LOCAL GOVERNMENT
The Town of Westlake was incorporated in 1956 as a Type A general-law municipality under the
rules of the state of Texas. The Town operates under the Council-Manager form of government.
The Council is comprised of a mayor and five (5) council members and is responsible for, among
other things, passing ordinances, adopting the budget, appointing committees, and hiring the
Town Manager. The Mayor and Town Council members serve two (2) year terms. All elected
officials are elected at large for a two year staggered term each May.
The Town Manager is responsible for carrying out the policies and ordinances of the Council, for
overseeing the day-to-day operations of the Town and appointing and supervising heads of
various departments. The Council meets the 4th Monday of each month with the Mayor
presiding at official meetings and work sessions.
�4
Laura Wheat Carol Langdon
Mayor Mayor Pro-Tem
qwmpl'
Michael Barrett Alesa Belvedere Rick Rennhack Wayne Stoltenberg
Council Member Council Member Council Member Council Member
The Town provides municipal and academic services that are necessary for our residents, and
delivered with an eye to maintaining fiscal stewardship for the resources that are entrusted to the
government. Major services provided under the general government and enterprise functions
are: fire and emergency medical services, police, water and sewer utility services, park and
recreational facilities, financial accounting, communications and community affairs, street
improvements, education and other related administrative services. The Town utilizes a
combination of both, direct service delivery along with outsourced services. The decision as to
which service to deliver directly versus out-sourcing is based on analysis of cost-effectiveness,
citizen responsiveness, and customer service quality.
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Community Profile Municipal
WESTLAKE OPERATIONS
The Town of Westlake employs approximately 130 full-time equivalent employees (municipal and
academic) and provides a full level of public services to its citizens as well as operates the only
municipally owned Charter School in the state. The Town of Westlake utilizes a private firm for
solid waste collection and disposal, as well as contracts with Keller, a neighboring community, for
police services.
General Government mom
• Town Manager 1.00
• Assistant Town Manager _=M&
• Administrative 0.50
• Planning and Development Im
• Town Secretary 1.25
Facilities/Grounds maintenance -EMII
• Municipal 5.00
inance di
• Payroll/Human Resources 2.00
Information Technolog i
Public Safety 14.25
1rulture and Recreation 0.84
Public Works 2.66
f, &larketing and Public Affairs 2.00
Education 93.65
GLENWYCK PARK
The park at Glenwyck Farms is 13.5 acres of open space with a 4
variety of 60 feet oak and pecan trees. The park, which opens
at dawn and closes at dusk, is maintained by The Town of
Westlake and the Home Owner's Association of Glenwyck
Farms. The park is located at 1601 Fair Oaks Drive, and includes
a running brook, three rustic bridges, and a paved walking ._, _
path. Oak and pecan trees, some of which tower 60 feet,
decorate the lush area.
SHOPPING
Westlake is surrounded by excellent retail shopping options in many of our neighboring cities:
Roanoke, Southlake, and Trophy Club. There is something for everyone only minutes away but keep
watch...for more Westlake retail stores in the Solana and Entrada developments!
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Community Profile Municipal
LODGING FACILITIES
The Marriott Solana was designed by famous Mexican
architect Richardo Legoretta.The hotel is one of Marriott's most
unique, full-service hotels. Marriott Solana guests are provided Aa rrioff.,
with a unique, upscale experience.The resort feel of the hotel
is supplemented)with fields of Texas wildflowers and groves of HOTELS & RESORTS
oak trees. The informal, yet stylized approach uses light and
color throughout, making for an exhilarating experience.
Whether you are staying at the hotel for work or pleasure, you
are sure to leave feeling pampered.
DINING ESTABLISHMENTS
Westlake offers a small variety of restaurants within the town's limits. Located off Highway 114 at the
Solana/Kirkwood Bouldvard exit, and just minutes from your doorstep, Solana houses a few dining
options; La Scala offers traditional Italian and Mar Cocina serves up authentic mexcian food.
The Marriot Solana Hotel offers an upbeat modern decor for breakfast lunch and dinner, featuring all
your favorites served with a local Texas flare. In addition, the Marriott also includes a Starbucks
Coffee House where tour favorite coffee beverages are served daily. Westlake is also surrounded by
excellent dining options in Southlake, Roanoke and Trophy Club.
WESTLAKE COMMUNITY EVENTS
Westlake is a family-friendly environment where events are held, which provide opportunites for our
residents to gather and participat in activities with their children and neighbors.
Arbor Day...
Held annually each spring, Arbor Day promotes tree conservation and in recent
years has centered around linear or pocket parks located in Westlake. In
addition, there are educational sessions on tree care advice, and
_..._. complimentary trees. Admission is free.
Decoration Day...
Held annually on Memorial Day in May, Decoration Day honors those who have
bravely upheld our freedoms by serving our country- past and present. The
Westlake Preservation Historical Society sponsors its annual "Decoration Day"
event which is usually held in Westlake at the International Order of Odd Fellows
Cemetery. The event ends at sunset.
Masterwork Concert Series...
The Masterworks Music Series is a variety of free music programs sponsored by
the Town of Westlake, Maguire Partners, and ARTSNET. These free concerts are
for arts lovers of all ages and feature music from local, regional and national
artists. Performances are held at the Plaza in Solana.
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Community Profile Municipal
WESTLAKE POPULATION
The Town of Westlake has experienced exponential growth over the last decade;
the national census reported 207 residents in 2001 and 992 residents in 2011 .
1200
Population 1063 11
11 0
Growth 84 l
785 8
698 70
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Tarant County
Unemployment Rate
Average Age Percent
Year T Rate 18- 34 years 5%
35 - 54 years 50%
2002 6.10% 55 - 74 years 39%
2003 6.30% 75+ years 6%
2004 5.30% Source: 2015 Westlake Citizen Survey
2005 5.10% Household Income Percent
2006 4.60% Under$50K 4%
2007 4.30% $50K - $149K 5%
2008 5.10% $150K - 500K 29%
$500K plus 45%
2009 8.10% Source: 2015 Westlake Citizen Survey
2010 8.10%
2011 7.90%
2012 6.20% A smoking ordinance was passed during the October 20th,
2015 Town Council meeting.
2013 6.00% The ordinance will be effective January 1 st, 2016 and
2014 5.00% prohibits smoking in parks and trails (including medians)
2015 4.00% and within 25 feet of a building entrance.
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DEMOGRAPHIC AND ECONOMIC STATUS
Calendar Estimated Personal Per Capita
Year Population Income Personal
Income
2002 289 $ 13,715,216 $ 47,457 LOCATION
2003 303 15,242,398 50,305
2004 328 41,027,552 125,084 . Northeast Tarrant County
2005 355 45,292,916 127,586
2006 698 90,835,901 130,137 7 square miles
2007 703 93,316,319 132,740 (approximate)
2008 785 115,891,905 147,633 . 12 miles west of Dallas-
2009 803 120,920,285 150,586 Fort Worth International
2010 847 102,852,057 121,431 Airport
2011 992 26,678,400 127,700
2012 1,063 138,423,531 130,254 • 7 miles east of Fort Worth
2013 1,109 147,292,890 132,859 Alliance Airport
2014 1,150 160,462,095 135,516 0 Elevation 574 feet
2015 1,200 165,871,904 138,227
_arrant County, Community College,
Hospital & School Taxes- FY 2015-2016 CLIMATE
• Carroll ISD - $2.582277
• Keller ISD - $2.344777 Days of sunshine: 137
• Northwest ISD - $2.466577
• Mean winter
Denton County and School Taxes- FY 2015-2016 temperature: 54 F
• Northwest ISD - $2.0741 Mean summer
temperature: 92 F
Major Developments & Planned Developments Mean annual
• Deloitte University
precipitation: 33.7 inches
• Fidelity Investments North Texas Campus
Solana Corporate Campus Mean annual snowfall:
• Westlake Corners - at SH 377/SH 170 intersection 3.1 inches
• Entrada - an exquisite 85 acre mixed-use
development
• Quail Hollow and Carlyle Court
• Granada Phase I and II
Charles Schwab regional headquarters
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Return to T.O.C. INTRODUCTORYSECTION
Community Profile Municipal
RESIDENTIAL SUBDIVISIONS
The Town of Westlake is home to several communities, all of which share a commitment to
excellence but possess unique character and charm. Well-known for its carefully planned
development and growth, many homeowners choose this area for the wide variety of opportunities
and the strong family orientation of its residents.
GLENWYCK FARMS
A private community situated on over 100 wooded acres
in a quiet rural setting. Glenwyck has one acre home sites
in a park-like setting with mature trees, a running trail and
several natural ponds. This neighborhood is also home to
Glenwyck Farms Park, 13.5 acres of open space with a
running brook, rustic bridges and paved walking path. Oak
and pecan trees, some of which tower 60 feet, decorate
the lush area.
M A H O T E A B O O N E -Westlake's oldest subdivision, having been platted about 1978, Mahotea
Boone has fourteen lots, eleven of which currently have older homes. It is zoned for minimum two
acre lots and appears to be redeveloping with larger homes. The developer was Bill Boone, who
named the street after his grandmother.
TERRA BELLA ... a
A 28 lot, 54.7 acre, gated subdivision with a 22.6 acre
open space/nature preserve featuring a hike and bike
trail. As Westlake's newest subdivision, the first house was a=
permitted for construction in August 2009. Terra Bella is
accessible from Dove Road and Sam School Road, on
the eastern border of Westlake.
I
VAQUERO ESTATES
Gently rolling hills and picturesque meadows comprise
the private oasis of Vaquero, With approximately 333
homes, this guard-gated community surrounds a
' world-class golf course designed by Tom Fazio, complete
µ with shimmering ponds and countless groves of majestic
oaks. This subdivision offers the highest quality in
home design and construction.
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Return to T.O.C. INTRODUCTORY SECTION
Community Profile Municipal
RESIDENTIAL SUBDIVISIONS
GRANADA
This subdivision is one of the latest additions with
plans for gorgeous luxury homes set on 84 acres. The
average price for these residences is targeted at$1
million plus & you'll find what that buys is a stunning E
home with all the right touches and details. With _-
average lot sizes of 30,000 square feet, families will
have plenty of space to enjoy the Texas landscape. -
v CARLYLE COURT
R!" _ Our new Carlyle Court developm ent will offer only 8
gated estate lots, each one being 1-1.5 acre homesites.
r,
The neighborhood is very private featuring both trees
and open spaces. Connections to the existing Westlake
trail system are also available right outside your door!
,4
QUAIL HOLLOW
A Private Enclave of Wooded 1-2 Acre+ Home Sites.
This picturesque 188-acre gated community is set .
amidst one of the most desirable locations in all of
North Texas and is limited to only 92 home sites.
STAGECOACH HILLS
c,,�A AIRPARK In this 30-house subdivision, airplanes are
'A almost as common as cars. The subdivision's
name comes from its location on an old
EST. 1971 stagecoach trail from Keller to Denton.
25
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ENTRADA COMMERCIAL DEVELOPMENT
WHAT'S SPECIAL
You and your family will especially appreciate the mixed- Westlake's Entrada project is
use approach that will make all your favorite spots taking shape with a 135-room
convenient and easy to access. Hyatt Place Hotel, a Primrose
School, a Starbucks and a CVS
The architecture will emulate the Catalonia region of Pharmacy all confirmed for the
northeastern Spain with a blend of rich Texas-Spanish 85-acre project.
Mission style and a community design to cr eate a Entrada also will have 300
European village type environment. The red the roofs are residential units, including 200
planned to quickly let you know single family villas, 70 to 80
townhomes and 40 to 50
you're not in a cookie cutter condominiums.Several luxury
rehashed development. retailers are anticipated for the
project. The 161,000-square-
�' foot Hyatt will have a 15,000-
Carefully planned to provide square-foot conference room
residents with an enviable lifestyle, for special events.
the $500 million project uses the
latest trends in lifestyle planning to The centerpiece will be a lake
provide a combination of office, with a fountain feature that
harkens back to a village on
hospitality, entertainment, and the Spanish coastline.The
single-family housing, including a project also includes an
selection of detached homes, W EST LA K E outdoor amphitheater and
trails that connect to the rest
townhomes, condominiums, and E N T RA DA of Westlake's network. The
villas. buildings will have small
setbacks, echoing the
This development has attracted some of the nation's most European-inspired design.
respected builders of luxury homes and, when completed,
will set a standard for both architectural design and luxury
living in the North Texas area.
Ji
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n +W a M.as ■�a�.ia.�aa...y 9444,r. ■....g... ..
�. -y..a. . Saa..... ..FAaa ......�.. u.ra
mpA
pit
Jl$
Return to T.O.C. INTRODUCTORY SECTION
Community Profile Municipal
ADVANTAGES OF DOING BUSINESS IN WESTLAKE
Regional Advantages
• Adjacent to the Alliance Airport High Standards
area which is home to over 60 • Gold level Scenic City Designation for high
Fortune 500 companies. aesthetic and open space standards.
• Lower cost of living-7% below the • The Town of Westlake has twice been named
national average. the most affluent community in America by
• No corporate sales tax in the state Forbes Magazine.
of Texas. • Town support for economic development
incentives.
• Affordable housing- Prices 20% Flexible high development standards to
below the national average. accommodate logical development.
• Strong workforce throughout DFW
Metroplex.
• Dallas-Fort Worth-Arlington
Metropolitan Statistical Area ranked %523MD
4th largest population center in
United States (Source: US Census
Bureau) Hwy 114 Corridor West Region
• Civilian labor force of 3 million in
Population & Demographics
Greater DFW.
• Superb access to seven major
• This region includes a population of over
highways and Dallas/Fort Worth 151,000 people with the following
characteristics.
International Airport. • Family Oriented: Avg. of 2.89 people per
• Location midway between Alliance household.
Airport and Dallas Love Field. • Well Educated: 47.3%of those over 25 years of
• Low local property tax rate. age have a bachelors degree or higher.
• Central location within the • Young at heart: Avg. age of 37 years old
Metroplex. • Total Households: 67,598
• Excellent choice and availability of • Average Household Income: $91,972 / year.
office and retail space.
Strategically Located
O Westlake is conveniently located on the south side of State Highway 114, providing quick, easy
access to all areas of the Dallas-Fort Worth Metroplex.
O The unique location of Westlake is ideal for many of its major corporate campuses and
residential communities.
O Westlake's proximity to major highways as well as area airports further enhances its appeal as a
corporate office location.
O Westlake is 12 miles to the west of DFW Airport and 7 miles to the east of Alliance Airport.
O Traffic counts on Highway 114 adjacent to the city are presently around 70,000 cars per day.
O Those counts may reach as high as 100,000 per day when TxDOT completes all renovations of
` Highway 114 from Roanoke to 1-35 at the raceway.
F
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WESTLAKE EMPLOYERS
COMPANY NAME -A- COUNT PERCENT The DFW Metro area is home to
Fidelity Investments 5,843 52% more Fortune 500 companies
Core Logic 1,790 16% than any other area in the United
Wells Fargo 617 5% States.
Deloitte 460 4% Several major employers are
TD Auto Finance 390 3% located within the Town of
Sabre JLL Facilities 317 3% Westlake.
First American Title 262 2%
Solana Business Park, including a
Travelocity 200 2% premium Marriott Hotel, stands as
Verizon Wireless Bldg 7 181 2% the area's premier corporate
Sount Physicians 170 1% development offering tenants a
Verizon Wireless Bldg 6(ALL) 131 1% customizable site-specific
partnership.
Vaquero Country Club 123 1%
Marriott Solana Hotel 108 1% Fidelity Investments created a
Verizon Wireless Bldg 8 100 1% stunning 300-acre campus that is
Westlake Academy 94 1% a user-friendly environment. It fits
into and even enhances the
Levi Strauss 70 1% area's natural surroundings and
Solana Club/Larry North 57 1% abounds with native trees,
Solera 50 0% grasses and flowers.
Town of Westlake 40 0% Deloitte University operates their
Marsh &McLennan Companies 35 0% $160 million dollar, 160 acre,
IVIIVIC 35 0% international training facility. The
Cassidy Turley/Cushman-Wakefield 25 0% facility features over 800 rooms,
Midwest Hospitality, LLC 25 0% office space, conference
centers, amenity centers, as well
Premier Academy 25 0% as many parks, trails, and water
_1,148 0% features. This development
represents another step towards
Westlake's goal to become an
education-centered community.
FidelityAll others,
FrWells Fargo,
5% Investments,
Core Logic,
..l
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Community Profile Municipal
SALES AND USE TAX RATE General Sales and Use Tax
Many people don't know that most (show in millions)
of their sales and use tax is remitted
to the State of Texas; in fact, for
every dollar of taxable sales, the
state receives six and one quarter '
cents (or 6.25%)
In the State of Texas local
municipalities have the option to
adopt up to an additional two
cents (or 2%) for local use for a total
maximum combined rate of 8.25%.
This local tax must be in
accordance with state law and be
utilized for specific purposes as
identified by the state's local 2011 2012 2013 2014 2015 2016 2017
government code.
4B Economic Development Fund-This fund utilizes the revenues generated from a '/2 cent sales tax to
fund qualified development projects. Currently, the 4B Fund is committed to the repayment of the
debt incurred for the construction of Westlake Academy.
General Fund Allocation -The Town levies 1 '/2 %in sales tax that is utilized to offset expenditures in the
General Fund and is used to reduce the property tax burden on local residents and businesses by
providing Westlake with an additional unrestricted revenue source.
Hotel Occupancy Tax
HOTEL OCCUPANCY TAX (show in thousands)
In addition to sales and use tax
collections, the Town receives a
7% hotel occupancy tax from the
Marriott Solana and any future
hotels in Westlake.
This revenue is recognized in the
Visitors Association Fund and is
used to help fund a shuttle
program for hotel guests as well as
other marketing and promotional
activities.
2011 2012 2013 2014 2015 2016 2017
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Community Profile Municipal
PROPERTY TAX Total
Top Ten Principal Assessed
The Town of Westlake instituted a property tax in 2010. Property Tax Payers Value
5 Village Circle Holdings LP $140,613,560
Effective Tax Rate is the total tax rate calculated FMR Texas, LLC/LTD 71,938,529
to raise the same amount of property tax revenue Partnership
from the same properties. DCLI, LLC 52,633,131
Fidelity Investments Inc. 26,383,422
The calculated effective rate
for FY2016/17 Marsh USA Inc 21,098,171
will decrease by .01939 Lexington TNI Westlake LP 14,700,000
for a tax rate of$.13695
Currently$.15634 Corelogic Solutions LLC 14,473,635
Prince Whipple Trust 6,850,000
FY 15/16 FY 16/17 Change Levi Strauss & CO 5,903,735
Adopted Adopted Amount Vaquero Club, Inc. 5,383,416
M&O 0.13947 0.12882 (0.01065) TOTAL $359,977,599
ISMS 0.01687 0.00813 (0.00874)
_— .13695 $ (0.01939)
Homestead Exemptions P-UC[IeL-L�' l a'� RaA.`
The Westlake Town Council approved a
homestead exemption of 20%, which is the o ono M M
maximum amount allowed by the State of c Ln Ln Ln
Texas. c o 0
Tax Freeze
The Town Council also approved a tax freeze
for all residential accounts identified as over 65
by the tax appraisal district.To learn more information about the tax freeze or find out if you qualify,
please visit the following websites: Denton Central Appraisal District or Tarrant Appraisal District.
Ad Valorem Tax Comparison per$100
Jurisdictions - The Town _
of Westlake contracts with 0.50 ■Trophy club
the Tarrant County Tax 0.40 —v - ■Southlake
Assessor Collector's Office
to collect the Town's ■Keller
0.30
portion of local property ■Roanoke
tax. 0.20 .13695
■Grapevine
0.10 ■Haslet
0.00 ❑Westlake
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Community Profile Municipal
There are multiple taxing jurisdictions within Westlake's boundaries;whether or not a business or
residence is required to pay tax to a particular jurisdiction is determined by where they are located
within Westlake and the boundaries of the respective taxing jurisdictions.
Currently, the following taxing jurisdictions collect property taxes in Westlake:
➢ Independent School Districts; Carroll, Keller and Northwest
➢ Tarrant County; College and Hospital
➢ Denton County and Trophy Club MUD 1
Westlake residents can determine which taxing jurisdictions apply to their property as well as obtain
current property tax rate information by conducting a property search on the appropriate appraisal
district website: Denton Central Appraisal District or Tarrant Appraisal District.
DIRECT AND OVERLAPPING PROPERTY TAX RATES
2071IT72014 2015 2016
TOWN DIRECT RATES
Ad Valorem Property Tax
General Fund 0.13835 0.14197 0.13888 0.13710 0.12882
Debt Service Fund 0.01849 0.01487 0.01796 0.01924 0.00813
SUB-TOTAL DIRECT 0.15684 0.15684 0.15684 0.15634 0.13695
OVERLAPPING RATES 10
School Districts
Carroll ISD 1.41500 1.40000 1.40000 1.40000 1.39000
Northwest ISD 1.37500 1.37500 1.45250 1.45250 1.45250
Keller ISD 1.54000 1.54000 1.54000 1.54000 1.52000
Counties
Denton County 0.27736 0.28287 0.28491 0.27220 0.26200
Tarrant County 0.26400 0.26400 0.26400 0.26400 0.25400
Other
Tarrant College 0.14897 0.14897 0.14950 0.14950 0.14173
Tarrant Hospital 0.22790 0.22790 0.22790 0.22790 0.22789
Trophy Club Mud#1 0.17500 0.13339 0.13339 0.13339 0.12722
SUB-TOTAL INDIRECT 5.42323 5.37213 5.45220 5.43949 5.37534
TOTAL 5.58007 5.52897 5.60904 5.59583 5.51229
Return to T.O.C. INTRODUCTORY SECTION
Balanced Scorecard System
BALANCED SCORECARD SYSTEM
The Academy is in the process of designing a strategic planning and performance management framework based
on the Balanced Scorecard System. The Balanced Scorecard is a strategic planning and management tool that is
used extensively in business and industry, government, and nonprofit organizations worldwide to align
operational activities to the vision and strategy of the organization, improve internal and external
communications, and monitor organization performance against strategic goals.
The Board of Trustees and staff utilize the "Balanced Scorecard " method to implement and review our existing
strategic framework, along with the mission,vision, and values statement of the Academy. The balanced
scorecard system is designed to communicate our strategy throughout the organization/community with our
stakeholders, align our daily work activities to the overall vision, serve as the framework for prioritizing services,
and utilize performance measures to evaluate our successes and opportunities.
The Balanced Scorecard is a strategic planning and management system that is used extensively in business and
industry, government, and nonprofit organizations worldwide to align business activities to the vision and
strategy of the organization, improve internal and external communications, and monitor organization
performance against strategic goals.
In short, it is a tool that businesses use to ensure that their work meets their goals in a measurable way by
connecting organizational strategy to
the work people do on a day-to-day
basis, i.e. "You said...we did..." STRATEGIC PLANNING & MANAGEMENT
WITH A BALANCED SCORECARD
The graphic at the right illustrates the STRATEGIC
Balanced Scorecard approach and the CUSTOMERSTAKEHOLDER NEEDS
ALTITVDE
following pages of this section 30,000 ft.
demonstrate how Westlake has
aligned with this framework. MISSION
Components include the ` VISION
o Vision, Mission,Values, 25,000 ft.
o Perspectives, STRATEGIC �
PERSPECTIVES
o Strategy Map, Performance
Measures
l STRATEGIC
THEMES AND RESULTS
o Strategic Initiatives. 15,000 ft. STRATEGIC OBJECTIVES
&STRATEGY MAP �/
Each element is critical to the success
PERFORMANCE MEASURES
of the municipality and helps us ,NO TARGETS
evaluate and communicate our
Ground STRATEGIC INITIATIVES
performance. Level i
Upon review of the existing mission
and vision statements,the Board
provided feedback to the Academic staff and requested an updated version for review. Staff reviewed the
previous version and created a more succinct statement that identifies the unique service programs, describes
our commitment to personal customer service, and outlines the financial stewardship component, which is
important to our community.
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Balanced Scorecard System
ACADEMY OF WESTLAKE STRATEGY MAP
Increase the 7UAcademy's
nce
,Citizen, Student & Future Increase ake
Stakeholder Readiness of Stakeholder All Students Satisfaction Sensece
Financial Increase
External Improve
Stewardship Revenue Financial
p Sources Stewardship
Strengthen
our Westlake
Academy
Academic
Optimize Improve the Culture
OperationsStudent Efficiencies of
Potential Operational Strengthen IB
Systems Philosophy &
ImplementatiodM
People, Attract, Recruit, Increase the Improve
Facilities & Retain & Develop Capacity of Technology,
the Highest Teachers & Facilities, &
�echnology duality Workforce Staff Equipment
STRATEGIC PERSPECTIVES
A Perspective is a view of the Academy from a specific vantage point. Four p�µpNCfq�r
ytYWARp$yIP
basic perspectives are traditionally used to encompass a Balanced Scorecard
organization's activities.The Academy's business model, which encompasses bad flm
~ y a
mission,vision, and strategy, utilizes the four Perspectives as a framework: A '
balanced scorecard is divided into four unique perspectives that help the �Noutl�o
Academy focus on the strategy that has been aligned to the vision and mission
for our community.
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Balanced Scorecard System
The four perspectives of the plan, which were customized by the Board, are as follows:
STRATEGIC PERSPECTIVES
Citizens, Students, Financial People, Facilities,
and Stakeholders: Stewardship: Academic Operations: &Technologies:
viewed through the eyes Financial oversight; focuses on processes involves, work culture,
of our customers and effective use of that create value for the innovation, leadership,
stakeholders resources customers and governance,tools and
stakeholders technology necessary to
provide services
STRATEGIC THEMES
The Academy won't have their own 'strategic themes' as they are considered a department of the Town.
Therefore, under the strategic themes for the Town is a theme of"Exemplary Education"that will encompass
everything for the Academy.
The Town Council grouped this information along with the major components of our previous strategic plan and
ranked the importance of the concepts per each area of concern. The final activity involved the formation of our
"strategic themes" for the municipal services.
staff then constructed strategy maps for each theme, identified a strategic result, populated the maps with
strategic objectives and created an
objective commentary document. All STRATEGIC THEMES
of this sets the framework for a Exemplary High Quality
comprehensive Tier One map for the I Natural Service Planning, Design, Exemplary
municipal program of services. Oasis &Governance & Development Education
Preserve and We set the We are a Westlake is an
The Town Council has worked closely maintain a standard by desirable, well international
with staff to adopt a management perfect blend delivering planned, high- educational
system based on the Balanced of the unparalleled quality leader where
Scorecard framework.This was community's municipal and community that is each
developed to help the Academy direct natural educational distinguished by individual's
its own destiny rather than allow beauty. services at the exemplary design potential
future events to do so.Through sound lowest cost. standards. is maximized.
business principles the Academy can
more effectively provide services to the citizens of Westlake, increasing both efficiency and customer
satisfaction.
Ultimately, it guides the way the Academy does business and helps us determine how we should invest our time
and resources. In the budget process, this allows for increased transparency, clarity, and accountability,
providing the Academy a framework for demonstrating results.The continued quality and success of this
community does not happen without the diligent effort of a committed team of residents, businesses,
community leaders, and staff.Years of consistent planning and strategic thinking has brought Westlake where it
is today.
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Balanced Scorecard System
OBJECTIVES AND PERFORMANCE MEASURES
Performance measures hold government departments accountable. While allowing them to recognize their
successes and adjust programs of service that are under performing. Because performance measures are
determined according to the Strategy Map, it becomes evident how each department aligns with Academy
goals, and how well departments are meeting the expectations set by the Strategy Map.
PERSPECTIVES OBJECTIVES These performance measures help determine
the quantity and quality of our work, as
Increase the Future identified in our plans. We consistently evaluate
Citizens, Readiness of All Students our work and review our performance quarterly
Students, Increase Stakeholder because we firmly believe that what gets
And Satisfaction measured gets done.
Stakeholders
Enhance Westlake Academy's In addition to monitoring these performance
Unique Sense of Place measures, the Academy of Westlake also desires
• Increase External the opinion of its citizens. Every two years
Financial Revenues Sources Westlake undertakes a broad citizen survey
Stewardship . Improve Financial designed to measure government performance
Stewardship and to gauge the current and future needs of
residents.
• Optimize Student
Potential This survey is an incredibly useful tool within the
• Improve the Efficiencies strategic management system, and it allows
Academic of Operational Systems Academy services to be tailored based upon
Operations . Strengthen our Westlake citizen attitudes. Westlake's performance
Academy Culture measures are evolutionary and undergo on-
going review.
• Strengthen IB Philosophy
and Implementation As we improve our ability to gather and mine
Attract, Recruit, Retain data about our work, we will be able to add
& Develop the Highest performance measures to the departmental
People, Quality Workforce business plans as a gauge of success.These
Facilities, . Increase the Capacity of departmental efficiency and effectiveness
and Teachers and Staff measures will be grouped with the appropriate
Technologies • Improve Technology, outcome objective then fed into the Academy-
wide scorecard to give an overall picture of the
Facilities& Equipment Academy's performance.
As the Academy continues to develop these scorecards, measurement units, data sources, and targets will be
refined.Through quarterly performance reviews, departmental performance is documented.Trends are also
tracked over time through budget documents.
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Financial Reporting Entity
FINANCIAL REPORTING ENTITY
LEGAL AUTONOMY
The Board of Trustees consists of six trustees (five trustees and the Board President) that also serve as the Town
Council for the Town of Westlake,the entity that owns and operates the Academy.
The Academy prepares its basic financial statements in conformity with generally accepted accounting principles
promulgated by the Government Accounting Standards Board (the "GASB") and other authoritative sources
identified in Statement on Auditing Standards No. 69 of the American Institute of Certified Public Accountants,
and it complies with the requirements of the appropriate version of the Texas Education Agency(TEA) Financial
Accountability System Resource Guide (the "Resource Guide") and the requirements of contracts and grants of
agencies from which it receives funds.
The Board has the authority to make decisions, appoint administrators and managers, and significantly influence
operations. It also has the primary accountability for fiscal matters. Therefore,the Academy is a financial
reporting entity as defined by the GASB in its Statement No. 14, "The Financial Reporting Entity."
The Academy's basic financial statements include a separate entity that is controlled by or dependent on the
Academy. The determination to include separate entities is based on the criteria of GASB Statement No. 24,
"The Financial Reporting Entity" as amended by GASB Statement No. 39, "Determining Whether Certain
Organizations are Component Units." GASB defines the reporting entity as the primary government and those
component units for which the primary government is financially accountable.
To be financially accountable, a voting majority of the component unit's ruling body must be appointed by the
primary government, and either
• the primary government can impose its will, or
• the primary government may potentially benefit financially or be financially responsible for the
component unit.
The Westlake Academy Foundation (the "Foundation")
is a 501(c)3 nonprofit organization which was
established exclusively for the purposes of supporting ~�
the Academy. This includes fundraising for and
contributing raised funds to the Academy. The
Foundation is discretely presented in the Westlake
Academy financial statements and reported in a
separate column to emphasize that it is legally
separate from the Academy. Separate audited �� �.
financial statements of the Foundation are prepared
annually.
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Budget Document Structure
BUDGET DOCUMENT STRUCTURE
The goal of the budget document is to provide timely,transparent information concerning the past, current, and
projected financial status of the Academy. The budget is a holistic planning document used in concert with our
strategic plan to facilitate decisions that support the educational goals and strategic objectives of the Academy.
The budget is developed within the guidelines established by the Texas Education Agency and is organized into a
series of accounts called funds and is organized into the following sections:
1. EXECUTIVE SUMMARY
Introduces the reader to the document. It highlights important information contained in the budget.
Users rely on this section to get an overview of what they can expect to find in the rest of the document.
2. ORGANIZATIONAL SECTION
Provides the context and framework within which the budget is developed and managed. This section
includes the Academy's organizational and financial structure as well as the controls that direct and
regulate the development and administration of the budget.
3. FINANCIAL SECTION
Presents the heart of the Academy's budget document. The adopted budget is presented as a series of
financial schedules along with past budget figures and future projections.
4. INFORMATIONAL SECTION
Contains additional information about the Academy, including descriptions of the IB curriculum and
programmes, enrollment and employment figures,testing and performance scores, benchmark data,
academic achievements, and other miscellaneous data.
The budget document is but one part of a system designed to link together critical governance and management
decision making tools. This system is designed to integrate:
• Strategic planning
• Five year financial forecasting, budgeting, and performance measurement linked to priorities,
objectives, and outcomes
• Reporting to monitor progress in outcome achievement and accountability for results
• Aligning human and financial resources to prioritized outcomes and objectives
• Long term approach to ensure financial sustainability
• Working within Board adopted financial policies for the Academy
• Maintaining core services
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Budget Document Structure
Discussion and review of the information contained in both the strategic plan and the budget document
consistently leads to operational and educational improvements that impact the students and parents of
Westlake Academy.
The development, review, and consideration of the Governmental Fund budgets (the General Fund and Special
Revenue Funds)were completed with a detailed and exhaustive review of every revenue and expenditure item
within the context of the Academy's Vision, Mission and Values statements, strategic planning efforts, and
Board policy.
The Board of Trustees provides governance and policy direction, while the Superintendent,finance department
and campus and administrative staff develop the budget document for the Board's review. Staff reviews each
existing expenditure request and the proposed allocations for the coming school year and asks "is this the best
use of public funds?"
1 �► r
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Budget Overview and Process
BUDGET OVERVIEW
Projecting the budget allocations of the Academy is a continual process that responds to the changing needs of
the Academy students and staff as well as variations in the fiscal environment such as the reduced State funding
from FY 09/10. The development of the Academy budget for fiscal year 16/17 began with the Westlake Board of
Trustees meeting that was held in May of 2016.
The Academy approach to balancing the combination of fast student growth in a restricted funding environment
along with increasing academic standards requires that the budget process be instructionally driven and guided
by the Academy's Strategic Plan. During the budget development process the staff reviewed all revenues and
expenditures and focused on aligning the allocation of resources, both personnel and financial, with the
accomplishment of established goals and outcome objectives contained in our Strategy Map.
The Board of Trustees regularly receives quarterly budget updates, some of which are detailed in the trend
analysis and the five-year financial forecast discussed later in this document. Upon receipt of the adopted
annual budget,the Board holds budget workshops to review adopted changes, their associated outcomes for
the next fiscal year, as well as their impact in a five (5)year financial forecast.
Following is a summary of the nine main steps taken in preparation of the adopted budget:
1. Budget Preparation ,
2. Fund Types and Structure
3. Basis of Accounting and Budgeting
4. The Budget Process
5. Balanced Budget ►■
6. Budget Amendments .
7. Budget Adoption
8. Long Term Forecasting
9. Budget Calendar _
BUDGET PREPARATION
As in previous years, efforts have been made to control expenditures while continuing to deliver an excellent
level of service to our citizens. Concentrated efforts have been made to produce a document that clearly
illustrates the uses of Academy resources in a format that may be utilized as a resource tool by the Board of
Trustees, Academy staff, and the citizens of Westlake. Our budget preparation process continues to be refined
on an annual basis, operating within clearly defined budget preparation guidelines.
Budgeting is an essential element of the financial planning, control and evaluation process of municipal
government. The "operating budget" is the Academy's annual financial operating plan. The budget includes all
the operating departments of the Academy, the debt service fund, all capital projects funds, and the internal
service funds of the Academy. The proposed budget will be prepared with the cooperation of all Academy
departments, and is submitted to the Superintendent who makes any necessary changes and transmits the
document to the Board of Trustees. A budget preparation calendar and timetable will be established and
followed in accordance with State law.
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Budget Overview and Process
A"bottom-up"approach is used to solicit input from the staff Leadership Team as to their operations' needs
with an emphasis on:
• Identifying costs to provide the current level of services.
• Identifies additional cost increases needed to maintain the current level of service.
• Additional resources necessary to provide new or increased levels of service.
• Delineating changes in fund balance levels for each fund.
The following procedures,which are guided by generally accepted budgeting practices, have been
established:
• The annual operating budget presents appropriations of expenditures and estimates of revenues for all
local government funds. These revenues include sales and use taxes, ad valorem property tax, citation
revenue,franchise taxes, mixed beverage taxes, license and permit fees, development fees, sales of
printed material, interest income,water and sewer utility revenue, duct bank leases, and miscellaneous
revenues.
• The annual operating budget illustrates expenditures, anticipated revenues, and the estimated impact
on reserves.
• Budgets for each department are broken down into specific cost components, including payroll/salaries,
payroll related & benefits,supplies, services, insurance, repair& maintenance, rent & utilities, economic
development incentives, and capital outlay.
• Revenue projections are prepared for each revenue source based on an analysis of historical revenue
trends and current fiscal conditions.
• The budget process includes a multi-year projection of all required capital improvements.
• Goals and objectives have been developed for each department and are incorporated into the
evaluation of employees and performance of the organization.
• A budget message summarizing local financial conditions and principal budget issues is presented to the
governing council along with the annual budget.
FUND TYPES AND STRUCTURE
The accounts of the Academy are organized and operated on a basis of funds. A fund is an independent fiscal
and accounting entity with a self-balancing set of accounts. Fund accounting segregates funds per their intended
purpose and is used to aid management in demonstrating compliance with finance related legal and contractual
provisions.The minimum number of funds is maintained consistent with legal and managerial requirements.
Academy funds are classified into two categories: governmental and fiduciary.
• FIDUCIARY FUNDS
The funds account for resources that are held in trust for individuals or other governments, in this case
monies that are held in a custodial capacity for the benefit of student organizations.
• GOVERNMENTAL FUNDS
The funds are used to account for the Academy's general government activities, including the collection
and disbursement of specific or legally restricted monies. Governmental funds use the flow of current
financial resources measurement focus and the modified accrual basis of accounting.
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Budget Overview and Process
Under the modified accrual basis of accounting, revenue is recognized when it becomes susceptible to accrual,
i.e., when it becomes measurable and available. Measurable means the amount of the transaction can be
determined and available means collectible within the current period or soon enough thereafter to pay liabilities
of the current period.The Academy considers revenues available if they are collected within 60 days after year-
end. Expenditures are recognized when the related fund liability is incurred.
• Foundation State Program (FSP) funds are susceptible to accrual.
• Miscellaneous revenue items, which are not susceptible to accrual, are recognized as revenue only as
they are received in cash.
• Entitlements and grants are recognized as revenue at the time of receipt or earlier if the susceptible to
accrual criteria are met.
Expenditure driven grants are recognized as revenue when the qualifying expenditures have been incurred and
all other grant requirements have been met.
Governmental funds include the following:
• The General Fund is the Academy's primary operating fund. It accounts for all financial resources of the
Academy, except those required to be accounted for in another fund.
• Special Revenue Funds account for the revenue sources that are legally restricted to expenditures for
specific purposes.
BASIS OF BUDGETING AND ACCOUNTING
The term basis of budgeting is used to describe when events or transactions are recorded and recognized.
In the Modified Accrual Basis,
• revenues are recognized in the period when they became available and measurable
• expenditures are recognized when the liability is incurred
In the Accrual Basis,
• revenues are recorded when earned
• expenses when the liability is incurred
The basis of budgeting and accounting is shown in the chart below
Annual Audited
Operating Budget Financial Statements
GOVERNMENTAL FUNDS
• General Fund Modified Accrual Modified Accrual
• Special Revenue Funds Modified Accrual Modified Accrual
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Budget Overview and Process
Budgets are prepared on the same basis of accounting that is used in
financial statements. The basis of budgeting refers to when revenues
and expenditures are recognized in the corresponding accounts and
reported in financial statements.
Governmental fund types, including the general fund, are budgeted
using the Current Financial Resources Measurement Focus and the
Modified Accrual Basis of Accounting. Westlake Academy's only
Fiduciary Fund (the Agency Fund, described below) is not a budgeted
fund.
THE BUDGET PROCESS
The Academy's fiscal year begins each year on September 1st and
ends on August 31st of the following calendar year. Prior to the
beginning of the fiscal year,the Superintendent must submit a
proposed budget to the Board of Trustees which includes:
• A budget message
• A consolidated statement of anticipated revenues and proposed expenditures for all funds
• General fund resources in detail
• Special fund resources in detail
• A summary of proposed expenditures by department and activity
• Detailed estimates of expenditures shown separately to support proposed expenditures
The budget preparation process begins early in the calendar year with the establishment of overall Academy
goals, objectives, and analysis of current year operations compared to expenditures.
• Budget policies and procedures are reviewed at the same time to reduce errors and omissions.
• In May,the Finance Department prepares budget forms and instructions for estimating revenues and
expenditures.
• Department heads submit proposed baseline expenditures for current service levels and any additional
one-time or on-going request they may have for their department.
• A round-table meeting is subsequently held with the Superintendent, the finance staff and each
department head for review.
• After all funding levels are established and agreed upon the proposed budget is presented by the
Superintendent to the Board of Trustees.
• A public hearing on the budget is conducted in accordance with state and local law.
• This meeting is held after the Board has reviewed the budget during a workshop.
• The Board of Trustees approves a level of expenditure (or appropriation)for each fund to go into effect
on September 1st, prior to the expenditure of any Academy funds for that budget year.
BALANCED BUDGET
As per State Law, current operating revenues will be sufficient to support current operating expenditures.
Annually recurring revenue will not be less than annually recurring operating budget expenditures (operating
budget minus capital outlay). Debt or bond financing will not be used to finance current expenditures.
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Budget Overview and Process
BUDGET AMENDMENT PROCESS
The Superintendent may request that the current year budget be amended at the function level. In this process,
the Superintendent will review the documentation and draft an ordinance to formally amend the current
budget.This ordinance is presented to the Board of Trustees for consideration. Following the consideration of
the proposed amendment,the Board will vote on the amendment ordinance. If the amendment is approved,
the necessary budget changes are then made. All budget amendments will be approved by the Board of
Trustees prior to the expenditure of funds more than the previously authorized budgeted amounts within each
fund.
The Final Amended Budget for the Year Ending August 31, 2016 will be submitted at the August 2016 Board
meeting. It will reflect all amendments previously approved by the Board of Trustees plus any final amendments.
Often,these amendments influence the shaping of the current budget as actual trends in revenues and
expenditures are realized and accounted for at that time.
Department Directors are responsible for monitoring
their respective department budgets. *Budget Amendment is requested
•Forwarded to Finance department
The Finance Department will monitor all financial
*Finance Director reviews
operations. The budget team will decide whether to 2 *If approved -forward to Superintendent
proceed with a budget amendment and, if so, will then
present the request to the Board of Trustees. If the *Superintendent reviews
Board decides a budget amendment is necessary, the -If approved-forward to Board of Trustees
amendment is adopted in resolution format and the _j
necessary budgetary changes are then made. -Board of Trustees review for approval
4.
BUDGET ADOPTION 5. *Finance enters budget amendment
Legal requirements for charter school budgets are
formulated by the state and the TEA. A Board typically
adopts an appropriated budget on a basis consistent with GAAP for the general fund, debt service fund and child
nutrition program (which is included in special revenue funds). However,the Academy does not maintain a
debt service fund or a child nutrition program;therefore,only the General Fund is required to be adopted.
Special Revenue Funds are not adopted by the governing body, and are shown for informational purposes
only. At a minimum, the Academy is required to present the original and the final amended budgets for
revenues and expenditures compared to actual revenues and expenditures for the General Fund. The Board of
Trustees conducts the required public meeting and adopts the budget in August prior to beginning the fiscal
year which runs from September 1st to August 31st.
LONG TERM FORECASTING
Most annual operating budget documents focus on a single 12-month period where spending and revenue
decisions made today will have effects that extend beyond that fiscal year. Because of that, the Academy
requires that long-term forecasting be made part of the Annual Operating Budget document.
The purpose of the policy is to
a. Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
b. Achieve the Academy's mission and vision
c. Systematically link the annual budget to a multi-year master financial plan.
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Budget Overview and Process
Should long term forecasts and analysis show that the school system does not have a "positive operating
balance" over the multi-year period,the Academy shall bring this to the attention of the Superintendent.
A "positive operating balance" means that the ending fund balance meets or exceeds the minimum levels
prescribed in the Academy's reserve policies.
We anticipate the General Fund will maintain its minimum reserve for each of the four fiscal years beyond the
current prosed budget year.
Positive Unassigned
Fund Operating Fund Operating Dollars Per
Name Balance Balance Days Operating Day
FY 17/18 YES $ 1,193,701 52 $23,069
FY 18/19 YES $1,218,870 52 $23,382
FY 19/20 YES $1,353,702 58 $23,244
FY 20/21 YES $1,412,211 60 $23,566
BUDGET CALENDAR
The Budget Process covers the financial cycle starting with budget planning and ending with the audited annual
financial report.
T'i ILDescription of Activities
October- Dec Strategic Plan review and development occurs Em
December Westlake Academy Instructional Leadership Team (ILT) begins planning upcoming budget
January ILT meets with WA affiliates for joint planning
Jan - March Review/Develop CIP, Five Year Projection & Personnel Cost Estimates
April 1W Develop improvement plans for each grade level/dept.
May Strategic Plan preparation process occurs; preliminary budgets developed
May BOT Budget Retreat
June Current budget review; budget amendments for current year if necessary
August BOT consideration/adoption of Westlake Academy Budget for Upcoming School Year
October Annual financial audit
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Financial Forecast Narrative
FINANCIAL FORECAST ASSUMPTIONS
Basic Assumptions:
• 41 student increase in FY 16-17 and 5 additional students in subsequent years
• Average Daily Attendance rate of 97%
Revenues:
• 100% use of Westlake Academy Foundation (WAF)Annual Program revenues (adopted $1 million)
• Career and Technology(CTE) Funding has been implemented with 252 students for FY 2016-17.
Additional CTE students will increase by 120 students in FY 2017-18 due to the addition of the DP
Business Management course and by unblocking Algebra II or renaming/redesigning the second block
of Algebra II (numbers will fluctuate slightly from year to year beyond 2017-18 due to student course
selections)
Expenditures:
• Personnel costs are estimated to increase approximately 4.5%for FY 16-17 and 1.5%annually in
subsequent years
• Professional Services, supplies and other operating expenditures are increased by 1% in outer years
but will only increase if revenues increase to offset additional expenditures
Charter schools do not have taxing authority, making them reliant upon state and local funding sources. As an
open enrollment charter school, all State funding is determined each legislative session and channeled to
Westlake Academy through the Foundation School Program (FSP).
Charter schools are funded based on their weighted average daily attendance (WADA). A school's WADA is
determined not only by the number of students attending, but their participation in special programs, such as
special education and career and technology.
• Most Academy General Fund revenue is derived from the
Foundation School Program.
f
• Secondary sources include the Westlake Academy - .-
Foundation and the Blacksmith Campaign. T
• Growth in local revenues has been significant and is a result w EI �E
of strong parent support of the Academy.
�NY
Future revenue projections are based upon the State's current �O
funding formula and current local donation levels. Due to the
uncertainty of state funding, the Academy adopted a new policy in
FY 14/15 which only allows increases in expenditures if there is an Q$IONS SWERS,
offsetting increase in revenues.
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Governmental Funds Financial Summary
GOVERNMENTAL FUNDS OVERVIEW
FINANCIAL SUMMARY
The following schedules present a comparison of revenues and expenditures for all Governmental Funds in the
Academy's Budget. As a reminder, Governmental Funds include the General Fund and Special Revenue Funds.
GOVERNMENTAL FUNDS BUDGET SUMMARY
EM11111jr Amended Adopted
Budget Budget $Increase %Increase
FY 15/16 FY 16/17 (Decrease)
Total Revenues $8,344,700 $ 8,637,067 $ 292,367 4%
Total Expenditures 9,235,609 8,641,017 (594,592) -6%
Net Other Sources/Uses 482,425 - (482,425) -100%
cess Revenues Over(under)Expenditures (408,484) W (3,950) Ida 404,534 -99%
Fund Balance Beginning 1,673,712 1,265,228 (408,484) -24%
Fund Balance Ending $1,254,228 JL $1,250,278 $ (3,950) -0.3%
A public school operating budget is legally required to include the Academy's General, Debt Service, and Food
Service Funds. However, the Academy does not maintain a Food Service Fund or a Debt Service Fund, so the
General Fund is the only legally adopted fund. Budgets for Special Revenue Funds are included throughout the
presentation for informational purposes only.
Historically, revenues and expenditures have increased at relatively the same rate which has dictated the need
for a higher fund balance to sustain the 45-day minimum requirement established by Board policy. It is
anticipated that this trend will continue over the next five years, with a relatively slow but steady growth in fund
balance. The Academy anticipates that the General Fund balance will remain above the TEA's recommended 45
days.
GOVERNMENTAL FUND REVENUES
Revenues received by Westlake Academy are classified into three broad categories:
Amended Adopted
Budget Budget $Increase %Increase Revenue
_ JL
FY 15/16 FY 16/17 (Decrease) (Decrease) PercentA
Local Revenues $1,800,281 $1,813,362 $ 13,081 1% 21%
State Program Revenues 6,445,856 6,721,311 275,455 4% 78%
Federal Program Revenues 98,563 102,394 3,831 4 1 1%
Total Revenues $8,344,7001
TEA Funding per Student $ 7,185 $ 7,241 $ 56 1%
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Governmental Funds Financial Summary
• Local funding consists of the following major sources,the Town of Westlake, Westlake Academy
Foundation (WAF) and the Hudson Foundation.
o The Town of Westlake provides zll LcvL L1�11��1tal 1=uL1� s
administrative, human resources, hC—L-Auk2r
facilities, and financial services for the
Academy and is responsible for all debt
service payments relating to Academy
facilities and infrastructure.
o The Westlake Academy Foundation is an
independent, non-profit organization that
raises funds through donations and
various fundraising efforts. Annual
fundraising activities include the Blacksmith Campaign, which is used to close the funding gap
between State allocations and school needs in the General Fund. The Blacksmith Campaign is
directed towards the parents of Academy students and tries to leverage individual donations with
employers who have charitable matching programs.
o The Hudson Foundation is an independent, non-profit organization that supports organizations who
are innovative and who develop programs that create new ways on knowing. Westlake Academy
has been the proud recipient of a Hudson Grant for the past seven years. These funds are used for
teacher training, innovative learning space and student travel and accounted for in Special Revenue
Funds.
• State funding is the Academy's largest revenue source, making up approximately 78%of total revenues.
Staff estimates that aid received through the State's Foundation School Program (FSP) in FY 16/17 will
be approximately$7,241 per student; this represents 1% increase from the prior year(primarily due to
the additional Career and Technical Education funds received).
• Federal funding is received through grants that support special education and accounts for
approximately one percent(1%) of revenues for all funds.
The Academy's primary revenue sources continue to be the State Foundation School Program and the Westlake
Academy Foundation.
LOCAL FUNDING Blacksmith Annual Contributions
FY15/16 adopted blacksmith revenues were forecasted to be $1.1
million; however,the amended budget has been decreased by
$7S,000. Total WAF contributions are projected at$1 million in
FY 16/17. FY FY 15/16 FY 15/16 FY16/17
14/15Actual Adopted Amended Proposed
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Governmental Funds Financial Summary
STATE PROGRAM REVENUES
Foundation State Program
FY15/16 adopted state revenues were forecasted to be $5.895 Revenues
million; however,the amended budget has been increased to
$5.928 million. Total state revenues are projected at$6.27 million
in FY 16/17.
FY 14/15 FY 15/16 FY 15/16 FY16/17
actual Adopted Amended Proposed
EXPENDITURES & SHARED SERVICES MODEL
Administrative,financial, human resources and facilities services are provided by the Town of Westlake under a
shared services model. These service costs were previously booked to the Westlake Academy operating
budget, but were removed from the operating budget in the FY 12/13 school year.The following table illustrates
indirect operating costs which are booked to the Town of Westlake's General Fund and Debt Service Fund.
Amended Adopted $Increase %Increase
FY 15/16 FY 16/17 Decr ecrease)
Operating Expenditures $ 8,503,848 $ 8,097,745 $ (406,103) -5%
Municipal-Transfer to WA Operating Budget 300,000 300,000 - 0%
tal Academic Costs 8,803,848 8,397,7 (406,103) -5%
Annual Debt Service(Municipal budget) 1,858,591 2,033,785 175,194 9%
Major Maintenance and Replacement 247,92 1 338,805 90,884 37%
In-direct Operating Costs 627,641 674,130 46,489 7%
Total Municipal Costs 2,734,152 3,046,720 312,567 11%
Academic&Municipal Expenditure Costs $ 11,538,001 $ 11,444,465 $ (93,536) -1%
Number of Students 825 866 41 5%
Total Expenditure Cost per Student $ 13,985 $ 13,215 $ (770) -6%
Employee compensation and benefits are Westlake Academy's largest operating expenditures. Board policy
states a desire to maintain a salary scale within three percent (3%) of the districts surveyed for market
comparison purposes. Staff has conducted an annual salary survey, and recommends a salary scale adjustment
for FY 16/17, and this adjustment would result in an average salary increase of 4.55%from FY 15/16.
The increase equals approximately$270,000 in
payroll and related expenditures, and will bring
the Academy to within 2.5%of the estimated
average median of surrounding districts.
These adjustments to compensation and
0
benefits will allow the Academy to remain
competitive, and serve as a valuable component
in our recruiting and retention efforts
u u
u
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Governmental Funds Financial Summary
roposed
Budget $Increase %Increase Expenditure
Y 16/17 (Decrease) (Decrease) Percent
=MOP$ ,698,685 $ 4,985,626 $ (713,059) -13% 58%
12-Resources&Media 80,073 84,089 4,016 5% 1%
13-Staff DevelopmentIna 182,409 133,802 (48,607) -27% 2%
21-Instructional Leadership 276,108 276,548 440 0% 3%
23-School Leadership 832,805 851,510 18,705 2% 10%
31-Guidance&Counseling 233,403 236,600 3,197 1% 3%
33-Health Services 68,166 68,024 (142) 0% 1%
35-Food Services - - - 0% 0%
36-Co-Curricular/Extra.Activities 148,258 175,826 27,568 19% 2%
41-Administrative 403,460 316,495 (86,965) -22% 4%
51-Maintenance&Operations 933,345 940,838 7,493 1% 11%
52-Security& Monitoring Services - - - 0% 0%
53-Data Processing 172,888 192,401 19,513 11% 2%
61-Community Services 115,445 122,020 6,575 6% 1%
71-Debt Service 90,565 257,238 166,673 184% 3%
Total Expenditures $9,235,609 $8,641,017 $ (594,592) -
Amended Proposed
Budget Budget $Increase %IM3%
EXPENDITURES(BY OBJECT CODES) FY 15/16 �FY 16/17 (Decrease) (De
61XX-Payroll&Related Items $ 6,299,405 $ 6,457,758 $ 158,353 759%.
62XX-Contracted Services 1,126,282 1,027,552 (98,730) -9% 12%
63XX-Supplies&Materials 1,131,349 403,211 (728,138) -64% 594.
64XX-Other Operating 588,008 495,258 (92,750) -16% 6%
65XX-Debt Service 90,565 257,238 166,673 184% 3%
Total Expenditures $9,235,609
GOVERNMENTAL FUNDS - MAJOR REVENUE SOURCES
The revenues received by Westlake Academy are classified into one of three broad categories: State, Federal
and Local.
• State funding is the Academy's largest revenue source, making up 78%of revenues from all funds. Funding
for public education has increased slightly over the last two legislative sessions, but overall funding still falls
short of the FY 2009/10 school year. The Texas economy has been strong, but ongoing litigation regarding
public education funding has created a hesitancy to adjust funding projections until the courts have ruled
upon the constitutionality of the current funding methodology. Consequently,the Academy continues to
utilize prior year funding levels when developing financial models and forecasts. Staff estimates that the
average level of total state aid received through the Foundation School Program (FSP) in FY 2016/17 will be
approximately$7,241 per student, a small increase from FY 2015/16 primarily due to the addition of Career
and Technical Education classes.
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Governmental Funds Financial Summary
• Local funding consists of the following major sources,the Town of Westlake,Westlake Academy Foundation
(WAF) and the Hudson Foundation.
o The Town of Westlake provides administrative, human resources, facilities, and financial services for
the Academy and is also responsible for all debt service payments relating to Academy facilities and
infrastructure.
o The Westlake Academy Foundation is an independent non-profit organization that raises funds
through donations and various fund raising efforts; the FY 2016/17 forecast is$1,000,000. The WAF
conducts several annual fundraising activities, including the Blacksmith Campaign, an annual fund
drive which started as a way to close the funding gap between what charter schools receive in state
allocations in comparison to local ISDs. It mainly directs fund raising efforts towards the parents of
Academy students and tries to leverage these donations with the employers who have matching
programs for individuals that contribute time or money to non-profits.The Blacksmith Campaign is
held each year in the month of October and each family is asked to contribute $2,500 per student to
help cover the gap between the state public education funding and what the Academy actually
spends on each student.
o The Hudson Foundation is an independent, non-profit organization that supports organizations who
are innovative and who develop programs that create new ways on knowing. Westlake Academy
has been the proud recipient of a Hudson Grant for the past seven years. These funds are used for
teacher training, innovative learning space and student travel.
• Federal funding is received through grants that support special education and accounts for approximately
one percent (1%) of revenues for all funds.
Revenues
Local by Categroy
Revenues
0 State
Program
FederaIN
Program
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Governmental Funds Financial Summary
GOVERNMENTAL FUNDS - MAJOR EXPENDITURES
Employee compensation and benefits are Westlake Academy's largest operating expenditures. Board policy
states a desire to maintain a salary scale within three percent (3%) of the districts surveyed for market
comparison purposes. Staff has conducted an annual salary survey, and recommends a salary scale adjustment
for FY 16/17, and this adjustment would result in an average salary increase of 4.55%from FY 15/16. The
increase equals approximately$270,000 in payroll and related expenditures, and will bring the Academy to
within 2.5%of the estimated average median of surrounding districts. These adjustments to compensation and
benefits will allow the Academy to remain competitive, and serve as a valuable component in our recruiting and
retention efforts
Expenditures
by Object Services
Materials
Related Items
PROJECTED ENDING FUND BALANCES
Total
Projected Revenues Total Projected
Beginning and Expenditures Ending
Fund Other and Other Fund Percent Change Change
Fund Type Balance Sources Uses Balance of total Amount Percent
General Fund $1,117,391 $8,399,173 $8,397,745 $1,118,819 89% $1,428 .13%
Special Revenue Funds 147,837 237,894 243,272 142,459 11% $(5,378) -3.63%
TOTAL $1,265,228 $8,637,067 $8,641,017 $1,261,278 100% $(3,950) -.31%
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General Fund Financial Summary
GENERAL FUND
FINANCIAL SUMMARY
The General Fund is a governmental fund with budgetary control which is used to show transactions resulting
from operations of on-going organizations and activities from a variety of revenue sources.
General Fund Five Year Forecast
Amended Proposed Projected Projected Projected Projected
FY 18 19 FY 19/20 FY 20/21
Total Revenues $7,956,657 $8,399,173 $8,509,919 $8,559,663 $8,618,733 $8,660,138
Total Expenditures 8,803,848 8,397,745 8,420,037 8,534,494 8,483,902 8,601,629
Net Other Sources/Uses 482,425 - - - - -
Excess Revenues 25,169 134,832 58,509
Over(under)Expenditures
Fund Balance Beginning 1,482,157 1,117,391 1,118,819 1,208,701 1,233,870 1,368,702
Fund Balance Ending $1,117,391 $1,118,819 $1,208,701 $1,233,870 $1,368,702 $1,427,211
Operating Days 49 48 52 52 58 60
GENERAL FUND REVENUES
$9 BY SOURCE
$8
$7 4�
■All Other Revenues
$6
c $5
■WAF Blacksmith
$4 Donation
$3 ��
$2 i TEA-State Funds
$1
$0
FY 14/15Actual FY 15/16 Adopted FY 15/16 Amended FY16/17 Proposed
STATE FUNDING REVENUES
Westlake Academy receives even less State funding per student than the Texas average because public charter
schools in the State of Texas do not receive facility funding. The Academy's State funding per pupil peaked in FY
09/10 but was cut the following two years due to State budget
shortfalls. Sl:aiL� l=undiA'2
In FY 2016/17,the Academy anticipates that state funding will ZL� StudeLLti:
increase by$339K due to the additional students enrolling and 5
the Career and Technology classes being offered.
$7,oz6
Westlake Academy receives minimal federal funding, (IDEA B—
Special Education Funds) depending primarily upon state
education funds and private donations to cover operating costs.
52
Return to T.O.C. INTRODUCTORY SECTION
General Fund Financial Summary
Due to prior state funding reductions,the Academy has become more dependent upon private donations for
operating costs and further financial support from the Town of Westlake. Funding ongoing operating costs with
one-time dollars raised through private donations places the Academy in a potentially tenuous situation. If
private donations do not meet the levels necessary to offset public education reductions,then the Town of
Westlake must increase financial support or consider reducing the associated service levels.
GENERAL FUND EXPENDITURES
$10
BY SOURCE
$8 —
■65XX-Debt Service
— 0.48
$6 - - ■64XX-Other Operating Costs
c
o -
$4 E 63XX-Supplies&Materials
$2 ■62XX-Contracted Services
$0 ■61XX-Salaries
FY 14/15Actual FY 15/16 Adopted FY 15/16 Amended FY16/17 Proposed
■11 -Instructional
■12 -Resources&Media
■13 -Staff Development
■21 -Instructional Leadership
■23 -School Leadership
,•, ■31 -Guidance&Counseling
■33 -Health Services
■35 -Food Services
■36 -CoCurricular/Extra.Activities
■41 -Administrative
•,• ■51 -Maintenance&Operations
■52 -Security and Monitoring Services
■53 -Data Processing
■61 -Community Services
■71 -Debt Service
■81 -Facility Acquisition/Construction
53
Return to T.O.C. INTRODUCTORY SECTION
Special Revenue Funds Financial Summary
SPECIAL REVENUE FUNDS
FINANCIAL SUMMARY
Special Revenue Funds account for local, state and federally financed programs or expenditures legally restricted
for specified purposes or where unused balances are returned to the grantor at the close of a specified project
period.
Amended Adopted
FY 15/16 FY 16/17
FEDERAL GRANTS THROUGH TEA
• Fund 224-IDEA B $ 98,563 $ 102,394 $ 3,831
Sub-total Federal Grants 98,563 102,394 3,831
STATE GRANTS THROUGH TEA
• Fund 410-Material Allotment Disbursement 103,735 - (103,735)
Sub-total State Grants 103,735 - (103,735)
LOCAL ACTIVITIES
• Fund 461-Local Campus Activity 50,625 60,000 9,375
• Fund 484-Local Grants(HOC&WAF) 59,100 - (59,100)
• Fund 498-International Mindedness Symposium 6,100 6,000 (100)
Sub-total Local Activities 115,825 66,000 (49,825)
HUDSON FOUNDATION GRANTS
• Fund 481- Hudson Foundation Curriculum Development - - -
• Fund 485-MYP Principal&Discretionary Funds - - -
• Fund 493-Salary&Curriculum Support - - -
• Fund 496-Hudson Foundation 101,000 22,378 (78,622)
Sub-total Hudson Foundation Grants 101,000 22,378 (78,622)
WESTLAKE ACADEMY FOUNDATION GRANTS
• Fund 494-Science Department 9,138 - (9,138)
• Fund 495-Fund an Item - 50,000 50,000
• Fund 497-Financial Assistance 3,500 2,500 (1,000)
Sub-total Foundation Grants 12,638 52,500 39,862
TWO Total-All Special Revenue nue Funds Expenditures i $ 431,761 $ 243,272 $ (188,489)
54
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Service Level Adjustments
SERVICE LEVEL ADJUSTMENTS
This budget makes use of Service Level Adjustments (SLA) to track cost changes. There are four types of
Service Level Adjustments: (1) increased operating costs to maintain current levels of service, (2) increased
operating costs due to expanded levels of service, (3) increased costs due to the development of new services,
and (4) cost savings. Cost savings may occur for any number of reasons, but primarily arise due to increased
efficiency, service level reductions, or not expending budgeted resources. Note that totals in brackets ( )
denote a decrease in expenditures.
For FY 2016-2017 staff recommends the following adjustments:
....................................................................................................................................................................................................................................................................................................................................................................................
61XX SALARY AND RELATED EXPENDITURES $273,521
:.................................:.................................................................................................................................................................................................................................................................................................................................................
Balanced Scorecard Perspective:People,Facilities,&Technology
Outcome Objective:Attract,Recruit,Retain,&Develop the Highest Quality Workforce
.....................................................................................:
Increases in FY 16/17 salary related expenditures are primarily due to an average 4.5%pay
increase as well as an unemployment insurance increase which is determined annually by the
state. A new employer-paid benefit, "Telehealth", has been proposed. This benefit allows
employees and their entire household to receive healthcare from a licensed physician over the
phone for non-complex situations. The proposed salary scale is within 2.5%of surrounding
school districts and is more competitive than previous years. Personnel FTE's were reduced by
approximately 1 FTE.
i.......................................................................................................................................................................................................................................................................................i........................................................i
62XX PROFESSIONAL AND CONTRACTED SERVICES $ 13,970
.................................s......................................................................................................................................................................................................................................................................................:........................................................i
Balanced Scorecard Perspective:Academic Operations
Outcome Objective:Improve the Efficiencies of Operational Systems
.......................................................................:
This category includes expenditures related to professional and contracted services rendered to
the Academy by firms, individuals,and other organizations. This increase amount is mainly due
to the purchase of new licensing over the summer to be ready for FY 17/18. Current licensing
will expire in May 2017.
...................................................................................................................................................................................................................................................................................... .........................................................
63XX SUPPLIES AND MATERIALS $ (1,000)
.................................:..................................................................................................................................................................................................................................................................................................................
Balanced Scorecard Perspective:Academic Operations
Outcome Objective:Optimize Student Potential
........................ .............. ..............................................................................................................................................................................................................................................:
Supplies and materials costs are associated with consumables that are used in the classroom,
maintenance of the campus, books, iPads,testing materials,furniture,and classroom supplies.
...............................................................................................................................................................................................................................................................................................................................................
64XX OTHER OPERATING COSTS $(27,724)
:.................................:...............................................................................................................................................................................................................................................................................................................................................:
Balanced Scorecard Perspective:People,Facilities,&Technology
Outcome Objective: Increase the Capacity of Teachers&Staff
....................................................................................................................................................................................................................................................................................... ........................................................i
Other operating costs are associated with insurance, professional development,travel,
membership fees and dues,graduations expenses,and miscellaneous costs. Cost savings in this
category are based on a determined effort to reduce costs.
65XX DEBT SERVICE COSTS $166,673
:.................................:.................................................................................................................................................................................................................................................................................................................
Balanced Scorecard Perspective: People,Facilities&Technology
Outcome Objective:Improve Technology,Facilities%Equipment
................................................................................................................................................................
:
Debt service costs are associated with the 3-year lease for iPads to support the one-to-one
device initiative.
........................................................................................................................................................................................................................................................................................................................._.........................................................
55
Return to T.O.C. NTRODUCTORY SECTION
Indirect Operating Costs
INDIRECT OPERATING COSTS
The Academy operates under a shared service model with the Town of Westlake, whereby the Town provides
Human Resources, Financial, Facilities, and Administrative support services to the Academy.
The shared services model was an integral part of the charter application process that helped bolster the
Town's case for having a community school. The shared service model conserves precious resources and
avoids the duplication of effort across Town and Academy activities.
The support services for the Academy that generate
indirect costs paid by the Town of Westlake are:
• Human Resources
• Information Technology
• Facility Maintenance Services
• Finance and Accounting Services
• General Managerial Oversight (Superintendent)
• Town Secretary records maintenance and election
administration
• Board Support Services including policy advisement
INDIRECTand strategic planning
MUNICIPAL INDIRECT COSTS
Amended dopted Increase Increase
FY 2015/16IFF'Y2016/17 Amount Percent
Transfer to WA Operating Budget 315,000 315,000 - 0%
Annual Debt Service 11858,591 2,033,785 175,194 9%
Major Maint& Replacement 247,920 338,80S 90,885 37%
In-direct Operating Costs 627,641 674,130 46,489 7%
$ 3,049,152 $ 3,361,720 $ 312,568 10%
Return to T.O.C. INTRODUCTORY SECTION
Personnel and Staffing
PERSONNEL & STAFFING
Given the funding constraints we are facing, accurate expenditure projections are more important than ever.
Since salaries make up the greatest portion of the expenditure budget, it is logical to apply forecasting
techniques that can provide a true picture of where payroll dollars are headed.
Personnel staffing levels for Westlake Academy are presented in full-time equivalents (FTE) positions. For
example, a position staffed for 40 hours per week for 52 weeks per year(2,080 hours) equals one full-time
equivalent position. An FTE position of.50 refers to a position that is funded for 1,040 hours per year(2,080 x
.50). The personnel count includes vacant positions.
PAYROLL & RELATED COSTS
MW FY 15/16 FY 16/17 Change Change
Estimated Adopted Amount Percent
PR Wages $ 5,234,699 $ 6,033,629 $ 798,930 15%
PR Taxes 85,285 25,189 (60,096) -70%
PR Insurance 288,285 78,325 (209,960) -73%
Workers' Compensation 25,875 7,103 (18,772) -73%
TRS On-Behalf 414,401 107,322 (307,079) -74%
Unemployment Taxes 1,768 6,633 4,865 275%
PR Retirement (TRS) 116,529 32,163 (84,366) -72%
GRAND TOTAL $6,166,842 $6,290,364 $ 123,522 2%
EMPLOYEE POSITIONS BY TYPE
Employee FY 15/16 FY 16/17
Type FY 11/12 FY 12/13 FY 13/14 FY 14/15 Estimated Adopted Total
Principals 2.50 3.00 4.00 4.50 4.50 4.50 -
Coordinators 2.50 3.50 3.50 3.50 4.50 4.50 -
Primary 17.90 17.90 19.90 23.59 27.00 27.00 -
Secondary 25.35 24.50 24.91 30.92 32.06 32.83 0.77
Support 12.65 13.27 13.97 18.10 15.50 14.00 (1.50)
Specialist 2.33 3.50 3.50 5.00 6.25 6.00 (0.25)
Foundation 1.50 1.50 1.50 1.50 1.50 1.50 -
Facilities 1.60 1.60 1.60 2.00 2.00 2.00 IT Dept. 1.80 1.80 1.80 1.10 2.00 2.00 -
Total Staff 68.13 70.57 74.68 90.21 95.31 94.33 (0.98)
Total Teachers 45.58 45.90 48.31 59.51 65.31 65.83 0.52
Return to T.O.C. INTRODUCTORY SECTION
Personnel and Staffing
■
Secondary
35%
Primary
29%
■
The following charts break down the number of employees by job function (primary and secondary school
teachers, instructional administration, etc.). Employee growth has been driven by Academy expansions as the
school matured into a full K-12 campus.
Defined Employee ;; ,. ■IT Dept
Groups by FTE
■Facilities
Mrom ■Foundation
i® iLL_ '
i®
IIIIIIi�c1C�
Specialist
Support
■Secondary
■Primary
' ■Coordinators
®i Principals
FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
ESTIMATED PROPOSED
58
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Personnel and Staffing
Fair Labor Standards Act(FLSA)
The Fair Labor Standards Act established minimum wage, overtime, recordkeeping, and child labor standards and
applies to all full-time and part-time employees. As amended in 1985, the FLSA provides the option for
compensatory time in lieu of overtime compensation for non-exempt employees. Executive, administrative, and
professional employees meeting Department of Labor exemption guidelines are exempt from FLSA overtime
requirements. The Town will comply with the FLSA for all employees.
Non-Exempt Positions
All non-exempt(hourly) positions are eligible for overtime compensation. Bi-weekly wages are based on a 40-
hour work week(2,080 hours per year), equaling one full-time equivalent(FTE) position. There are 26 pay periods
per year. This work schedule applies to all hourly regular, year-round employees, except for Fire/EMS employees.
Fire/EMS operates on a 15-day pay period, and there are 24 pay periods per year.
Exempt Positions
Exempt (salaried) positions are not eligible for overtime compensation. Salary amounts are not calculated or
based on the number of hours worked. Exempt positions include managers and directors, and classifications are
determined by Department of Labor guidelines.
Vacancy Adiustments
Not all positions will be filled 52 weeks per year, and so these expected vacancies are addressed in the salary
budgeting process.
1. Start Dates- Expected start dates for open positions may vary. Keeping track of those assumptions is
important because a large dollar variance may result when an actual start date differs from the budgeted
date.
2. Attrition (Planned Retirements) - Budget consideration should be given for those positions where
employees have indicated specific retirement dates. Payouts need to be budgeted.
3. Impact of Inflation- Inflation can have a significant impact on payroll forecasting. Cost-of-living
adjustments often are used when forecasting personnel costs.The Consumer Price Index(CPI), a broad
measure of consumer inflation, is the cost-of-living index used most often for determining salary
increases.The U.S. Bureau of Labor Statistics' Employment Cost Index might be a better index for this
purpose, as it measures the change in the cost of labor,free from the influence of employment shifts
among occupations and industries.
4. Seasonal and Temporary Positions-Some divisions or jurisdictions use part-time or seasonal employees.
5. Other Considerations-Some governments make more use of overtime as an option instead of hiring
fulltime workers.The use of retired employees for contractual services is another alternative to adding
headcount.
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Personnel and Staffing
PERSONNEL POSITION SUMMARY
Classes Served K-12 K-12 K-12 K-12 K-12
Executive Director - 0.50 1.00 1.00 1.00 -
Primary Principal 1.00 1.00 1.00 1.00 1.00 -
Secondary Principal 1.00 1.00 1.00 1.00 1.00 -
Asst. Secondary Principal 0.50 1.00 1.00 1.00 1.00 -
DP Principal 0.50 0.50 0.50 0.50 0.50 -
Principal Staffing 3.00 4.00 4.50 4.50 4.50 -
DP Coordinator 0.50 0.50 0.50 0.50 0.50 -
MYP Academic Dean - - - 1.00 1.00 -
MYP Coordinator 1.00 1.00 1.00 1.00 1.00 -
PYP Coordinator 1.00 1.00 1.00 1.00 1.00 -
Student Services Coordinator - - - 1.00 1.00 -
Admin Coordinator 1.00 1.00 1.00 - - -
Coordinator Staffing 3.50 3.50 3.50 4.50 4.50 -
Primary- Kindergarten 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 1 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 2 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 3 2.00 3.00 3.00 3.00 3.00 -
Primary-Grade 4 3.00 3.00 3.00 3.00 3.00 -
Primary-Grade 5 2.00 3.00 3.00 3.00 3.00 -
Primary-Art 1.00 1.00 1.50 1.00 1.00 -
Primary-Counselor 1.50 1.50 1.35 1.00 1.00
Primary- Math - - - 1.00 1.00 -
Primary- Music 0.40 0.40 0.40 1.00 1.00 -
Primary- PE 1.00 1.00 1.00 2.00 2.00 -
Primary- Reading Spec. - - 0.34 1.00 1.00 -
Primary-Spanish 1.00 1.00 1.00 2.00 2.00 -
Primary Staffing 17.90 19.90 23.59 27.00 27.00 -
Secondary-Art - - 1.32 2.32 2.16 (0.16)
Secondary- Business Management - - 1.00 1.00
Secondary-Counselor 1.50 1.50 1.35 1.00 1.00 -
Secondary- Economics - - 1.00 1.00 1.00 -
Secondary- English 3.00 3.00 4.00 3.50 3.50 -
Secondary- Foreign Lang. 3.34 4.34 4.34 4.32 4.00 (0.32)
Secondary-Grade 6 3.00 2.00 3.00 3.00 3.00 -
Secondary- Humanities 4.00 4.25 3.75 3.92 4.33 0.41
Secondary- Math 3.00 3.00 5.00 5.50 5.50 -
Secondary- PE 1.50 1.50 2.00 2.00 2.00 -
Secondary- Performing A&D - - - 1.00 1.00 -
Secondary- Personal Project - - - 0.50 0.50 -
Secondary-Science 3.50 3.66 3.50 4.00 3.84 (0.16)
Secondary- Reading Spec. 0.66 0.66 0.66 - - -
Secondary-Theater Arts 1.00 1.00 1.00 - - -
secondary Staffing 24.50 24.91 30.92 32.06 32.83 0.77
60
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Personnel and Staffing
ProposedEstimated
Classes Served K-12 K-12 K-12 K-12 K-12
Teaching Aides 5.87 6.07 8.00 8.50 7.00 (1.50)
Librarian/Aide 1.00 1.00 1.00 1.00 1.00 -
Nurse 1.00 1.00 1.00 1.00 1.00 -
Office Aide 3.00 3.00 4.10 4.00 4.00 -
Registrar 1.00 1.00 1.00 1.00 1.00 -
Dir. of Student Life - - 1.00 - - -
Dir. of Curriculum - 0.50 1.00 - - -
Lunchroom Personnel 0.40 0.40 - - - -
Study Hall/Tutor 1.00 1.00 1.00 - - -
Support Staffing 13.27 13.97 18.10 15.50 14.00 (1.50)
Dyslexia/ Literacy - - - - 1.00 1.00
IT Integration 1.00 1.00 1.00 1.00 1.00 -
Special Education 2.00 2.00 3.00 3.25 3.00 (0.25)
Speech 0.17 0.17 - 1.00 - (1.00)
Strings Staff 0.33 0.33 1.00 1.00 1.00 -
Specialist Staffing 3.50 3.50 5.00 6.25 6.00 (0.25)
WAF Director 1.00 1.00 1.00 1.00 1.00 -
WAF Office Aide 0.50 0.50 0.50 0.50 0.50 -
Foundation Staffing 1.50 1.50 1.50 1.50 1.50 -
Facilities Day Porter 0.60 0.60 1.00 1.00 - (1.00)
Facilities Technician 1.00 1.00 1.00 1.00 2.00 1.00
Facilities Staffing 1.60 1.60 2.00 2.00 2.00 IT Coordinator - - - 1.00 1.00 IT Tech 1.80 1.80 1.10 1.00 1.00 -
IT Department Staffing 1.80 1.80 1.10 2.00 2.00 -
IMP
61
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Enrollment Boundaries
ENROLLMENT BOUNDARIES
Westlake Academy's student enrollment is established by two sets of boundaries.
• The primary boundary encompasses the Town of Westlake and allows Westlake residents automatic
entry into Westlake Academy.
• The secondary boundaries are comprised of 31 of the surrounding school district's boundaries.
While any school-age child residing within
these district boundaries can attend the om
AcademY g, demand for entrance exceedin capacity may necessitate that child being
placed on the waiting list.
Westlake Academy's secondary boundaries 59.0% °
41.0% 32.0%
are comprised of the following Independent Li
School District boundaries:
Argyle ISD Duncanville ISD Krum ISD
Arlington ISD Eagle Mountain-Saginaw ISD Lake Dallas ISD
Azle ISD Fort Worth ISD Lewisville ISD
Birdville ISD Frisco ISD, Garland ISD Little Elm ISD
Boyd ISD Grand Prairie ISD McKinney ISD
Carroll ISD Grapevine-Colleyville ISD Northwest ISD
Coppell ISD Highland Park ISD Paradise ISD
Carrollton-Farmers Branch ISD Hurst-Euless-Bedford ISD Ponder ISD
Decatur ISD Irving ISD Springtown ISD
Denton ISD Keller ISD Weatherford ISD
x�
Lftdop
w"a'rrry
i lr�•
Arle
Grand
F
f
r 1
! �ti
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Student Enrollment
STUDENT ENROLLMENT
As an open enrollment charter school,
Westlake Academy can set and maintain
enrollment numbers at levels determined
by the Board of Trustees.
Westlake Academy has added334 Student Enrollment History
students since FY 09/10 as the result of
increased demand and planned
expansions.
The Academy will be able to serve
approximately 866 students in the 16/17 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15
school year. Actual
Future enrollment must be carefully
managed to ensure adequate space for Student Enrollment Forecast
primary boundary residents.
We plan to maintain an average class size
• 18 students per class in grades K-5
• 25 students per class in grades 6-12.
The Academy currently has over 2,000 FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
students on a waiting list spanning Amended Proposed projected projected projected projected
kindergarten through grade eleven.
The waiting list is developed each year
through a lottery process that allows the Lottery Waiting List
Academy to fill seats if student attrition
occurs and maintains a stable student
population and classroom size.
While any school-age child residing within
district boundaries can attend the
Academy, demand for entrance exceeding FY 14/15 FY 15/16 FY 16/17
capacity may necessitate that child being
placed on the waiting list.
Enrollment forecasting is based on
several items; Operating Cost per Student
• Lotter Waiting list (Academic Costs Only)
• Residents choosing the Academy
• Residential growth
• Facility Master Plan
All the above circumstances are reviewed FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
continually to assess to appropriate Amended Proposed projected projected projected projected
enrollment for each school year.
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Benchmark Data
BENCHMARK DATA
Westlake Academy was upgraded from a four and one-half stars to a five-star rating from the Texas State
Comptroller's FAST School District Rating System in 2016 for providing quality education at a reasonable per
student cost. This was an upgrade from the prior score of four and one-half. Future enrollment increases will
further improve efficiencies and reduce per student cost.
Using both academic progress and spending levels at Texas' school districts and individual school campuses,
each district and campus has been assigned a Smart Score of one to five stars, indicating its success in combining
cost-effective spending with the achievement of measurable student academic progress compared with
their fiscal peers. Five stars reflect the strongest relative progress combined with the lowest relative
spending.
The State's school and district comparison calculations use three-year averages to get more stable and
persistent measures with less year-to-year volatility.Thus, the 2016 TXSmartSchools results are based on data
from the 2012-2013, 2013-2014 and 2014-2015 school years.
Spending Index Very Low Spending
Composite Academic Progress Quintile Very High Academic Progress / , 1 • F
TEA Accountability Rating Met Standard 6L
Composite
Academic Adjusted
Total Progress Spending Charter % %Special %Student
District Name Students Percentile Per Student School LEP Education Mobility
Chaparral Star Academy 358 0.14 $5,921.00 1 0.0 2.5 23.3
Treetops School International 363 0.074 $6,592.67 1 0.0 5.8 6.3
Dodd City ISD 385 0.076 $8,716.67 0 1.6 8.6 9.0
Mumford ISD 612 0.073 $6,772.67 0 15.0 8.2 6.2
Nova Academy(Southeast) 720 0.157 $6,506.33 1 35.4 5.7 10.8
Westlake Academy
Charter School 815 0.174 $8,893.00 1 0.0 4.4 4.4
Burnham Wood Charter School 968 0.116 $7,973.00 1 22.9 4.0 11.1
Lone Oak ISD 997 0.092 $7,436.00 0 1.2 12.8 14.1
Ser-Nino's Charter School 1,031 0.115 $6,895.33 1 90.8 4.0 4.1
Meridian World School LLC 1,064 0.09 $6,614.67 1 2.8 4.4 10.3
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Benchmark Data
Benchmarking against the surrounding local ISDs, Westlake Academy's expenditures are near the median when
comparing expenditures per student, excluding debt service and capital expenditures. Westlake's student-
teacher ratio compares favorably to surrounding student districts.
PER-PUPIL EXPENDITURE COMPARISON
Fiscal Year Westlake Carroll Northwest Keller
Academy ISD ISD ISD
09/10 $ 8,457 $ 9,667 $ 10,102 $ 6,298
10/11 9,921 10,137 9,770 6,565
11/12 8,772 10,035 8,717 6,017
12/13 8,264 10,178 8,105 6,536
13/14 9,694 10,346 7,588 6,998
14/15 9,146 11,571 7,983 7,624
15/16 estimated * 10,087 Data N/A 8,499 7,982
16/17 projected $ 9,697 Data N/A Data N/A Data N/A
* Increase due to additional expenditures related to the use of designated fund balance for technology
needs in FY 14/15
STUDENT-TEACHER RATIO COMPARISON
Fiscal Year Westlake Keller Northwest Carroll State
Academy ISD ISD ISD Average
11/12 14.3 17.16 16.0 15.0 15.4
12/13 14.0 17.1 15.9 15.1 15.5
13/14 13.8 16.6 16.0 14.9 15.5
14/15 13.5 15.6 15.4 14.8 15.2
15/16 estimated 13.0 Data N/A 14.5 Data N/A Data N/A
16/17 Projected 13.6 Data N/A Data N/A Data N/A Data N/A
KNOW YOZTR IMFACT !
65
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TEA Accountability Summary
TEXAS EDUCATION AGENCY
2016 ACCOUNTABILITY SUMMARY
ACCOUNTABILITY RATING DISTINCTION DESIGNATION
Met Standards On 1w Did Not Meet Standard on
Student Achievement -NONE-
Student Progress Academic Achievement in ELA/Reading
Closing Performance Gaps DISTINCTION EARNED
Post-Secondary Readiness
In 2016 to receive a"Meet Standard"or"Met Alternative Standard"rating,districts and Academic Achievement in Mathematics
campuses must meet targets on three indexes:Index 1 or Index 2 and Index 3 and Index 4 DISTINCTION EARNED
CAMPUS DEMOGRAPHICS Academic Achievement in Science
Campus Typ Elementary/Secondary DISTINCTION EARNED
Campus Size 831 students
Grade Span KG -12 Academic Achievement in Social Studies
% Economically Disadvantaged 0.0 DISTINCTION EARNED
• English Language Learner 0.4
Mobility Rate 7.7 Top 25 Percent Student Progress
DISTINCTION EARNED
PERFORMANCE INDEX SUMMARY Top 25 Percent Closing Performance Gaps
Points Maximum Index DISTINCTION EARNED
Met Standards On Earned Points Score
Student Achievement 1,321 1,368 97 Post-Secondary Readiness
Student Progres 571 1,200 48 DISTINCTION EARNED
Closing Performance Gaps 946 1,400 68
Post-Secondary Readiness
• STAAR Score 19.3 1 -
• Graduation Rate Sore 25.0
• Graduation Plan Score 25.0
• Post-Secondary Component Score 25.0 94
SYSTEM SAFEGUARDS PERFORMANCE INDEX REPORT
Number and Percentage of Indicators Met
Performance Rates 17 out of 17= 100%
Participation Rates 10 out of 10= 100%
Graduation Rates 2 out of 2= 100%
Total 29 out of 29 = 100%
Student Student Progress Closing Post Secondary
Achievement (Target Score=17) Performance Gaps Readiness (Target
(Target Score=60) (Target Score=30) Score=60)
66
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IBO Programme Overview
International
Baccalaureate° (IB) 1130 PROGRAMME OVERVIEW
programmes aim to do
more than other curricula
by developing inquiring, Westlake Academy is authorized by the International Baccalaureate (IB)to
knowledgeable and caring offer:
young people who are • Primary Years Programme (PYP)—grades K-5
motivated to succeed. • Middle Years Programme (MYP)—grades 6-10
We strive to develop • Diploma Programme (DP)—grades 11-12
students who will build a
better world through These three linked curricula form the IB Continuum and all three
intercultural understanding programmes are consistent in their pedagogical approach.
and respect. • The PYP gives students an excellent foundation for the IB's other
IB programme frameworks programmes, providing the essential elements that young students
can operate effectively need to equip themselves for successful lives, both now and in the
with national curricula at future.
all ages; more than 50%of • The MYP builds on the knowledge, skills, and attitudes developed
IB World Schools are state- by the Primary Years Programme and prepares students for the
funded. demanding requirements of the Diploma Programme.
• All three programmes are philosophically aligned, each centered
The International on developing attributes of the IB learner profile, described below.
Baccalaureate (IB)offers a When schools implement the full continuum of IB programmes, students
continuum of international realize several benefits including:
education.The
programmes encourage
• Improved standardized test scores.
both personal and • An understanding and appreciation of the world's cultures and
academic achievement, histories among their students.
challenging students to • A sense of community and shared goals among parents, students,
excel in their studies and in teachers, and administrators.
their personal • Graduates complete college faster than their peers,feel more
development. prepared for college-level coursework involving research, and
are better able to cope with demanding workloads and
time-management challenges
All IB programmes are
flexible, enabling teachers
to respond to local DvM&p11IV
drug.L Vf F4rnJaee
requirements. w^w w sorsq[
�w ,pftW-don
The Academy prepares
students for all " m°'
Ihr dwgn ayy�
standardized testing
required by the State of
Texas, but endeavors to do
so in a much more
transdisciplinary manner tr Pun
[fr prods L? a P[cd
and without"teaching to g
the test."
Cieake
Gee[e lie appn Vi.W
[fx md
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67
Return to T.O.C. INTRODUCTORYSECTION
Primary Years Goals and Objectives
PRIMARY YEARS PROGRAMME - GOALS AND OBJECTIVES
IB Primary Years Programme (PYP)—grades K-5
Department Contact information
*Rod Harding
*PYP Principal
rhardinq@westlakeacademy.ora LANGLIACE
P�0 ACTieN S0�,
Program Service Description ¢°Tq`"ES'°r&I
The PYP is a curriculum framework for children aged 3-
12 that prepares students for the intellectual challenges 0 4 o
of further education and their future careers, focusing 3 p� 1
on the development of the whole child as an inquirer, yCe �OACkeSTOLFPR�`� y
both in the classroom and in the world, outside. OmrBIT1UA �P y�S
J
r3F AM �50
By emphasizing critical thinking and fostering the Wogs �+ow�EExQRti
development of universal human values,the PYP is a ■
powerful means of going beyond classroom learning,
asking students to use their knowledge and skills to
solve real-world problems. Students become responsible for their own learning and must work
collaboratively with peers, building on each member's strength.
• Knowledge, which is both disciplinary, represented by traditional subject areas (language, math,
science, social studies, arts, PSPE) and transdisciplinary
• Concepts,which students explore through structured inquiry to develop coherent, in-depth
understanding, and which have relevance both within and beyond subject areas
• Skills, which are the broad capabilities students develop and apply during learning and in life beyond
the classroom
• Attitudes, which contribute to international-mindedness and the wellbeing of individuals and learning
communities, and connect directly to the IB learner profile
• Action, which is an expectation in the PYP that successful inquiry leads to responsible, thoughtful
and appropriate action.
PYP Performance Data
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of the Every Student Succeeds Act(ESSA).
68
Return to T.O.C. INTRODUCTORYSECTION
Primary Years Goals and Objectives
The following tables display student standardized test performance for the last two years.
Level II Satisfactory Phase-In 2 (Effective 2015-16). Data for the 2016-2017 school year are projections
based upon Westlake's goal to have a Level III rate of at least 50% in all subjects tested.
READING
Level 11 Level 11
Grade Comparison Satisfacto Level III Satisfactory
ry J[ Phase-in 2
Leve Year Phase-in Advanced
A 1 Jd1h_ ��_l
Grade 3 2014-2015 94% 47% 89.5%
2015-2016 NA 58% 98%
2016-2017 NA 65% 99%
Grade 4 2014-2015 98% 38% 98%
2015-2016 NA 41% 96%
2016-2017 NA 50% 98%
Grade 5 2014-2015 98% 38% 98%
2015-2016 NA 36% 100%
2016-2017 NA 50% 100%
WRITING
Level 11 Level 11
Grade mparison Satisfactory Level III Satisfactory
Level Year Phase-in I Advanced Phase-in 2
i Co
Grade 4 2014-2015 93% 20% 83%
2015-2016 NA 37% 89%
2016-2017 NA 50% 90%
SCIENCE
Level 11 Level 11
Grade Compar"ison rSlatisfactory Level III Satisfactory
Level Year Phase-In)J17'Advanced Phase-in 2
Grade 5 2014-2015 87% 20% 83%
2015-2016 NA 2% 88%
2016-2017 NA 50% 90%
69
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Primary Years Goals and Objectives
MATH
Grade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2 All—
Grade 3 2014-2015 89% NA NA
2015-2016 NA NA 96%
2016-2017 NA 40% 100%
Grade 4 2014-2015 94% NA NA
2015-2016 NA NA 88%
2016-2017 NA 40% 90%
Grade 5 2014-2015 96% NA NA
2015-2016 NA NA 100%
2016-2017 NA 50% 100%
- M.
I
i
qra duation Di
70
Return to T.O.C. INTRODUCTORY SECTION
Middle Years Goals and Objectives
MIDDLE YEARS PROGRAMME - GOALS AND OBJECTIVES
IB Middle Years Programme (MYP)—grades 6-10
Department Contact Information
Andra Barton ■► '.
*MYP Principal
abarton@westlakeacademy.org
PG'5��� SER��CF
w..
Program Service Description Nor YOTERG G�
MYP is a challenging framework that encourages
students to make practical connections between their
O a y W
studies and the real world. The programme aims to
develop active learners and internationally minded
young people who can empathize with others and
p9o1Ec,
pursue lives of purpose and meaning. The programme
empowers students to inquire into a wide range of
issues and ideas of significance locally, nationally and f
globally.The result is young people who are creative,
critical and reflective thinkers.
The Years Programme (MYP) comprises eight subject groups:
❖ Language acquisition ❖ Language and literature ❖ Individuals and societies
❖ Sciences ❖ Mathematics ❖ Arts
❖ Design ❖ Physical and health education
The MYP requires at least 50 hours of teaching time for each subject group in each year of the
programme. In years 4 and 5, students have the option to take courses from six of the eight subject
groups within certain limits,to provide greater flexibility in meeting local requirements and individual
student learning needs. Each year, students in the MYP also engage in at least one collaboratively
planned interdisciplinary unit that involves at least two subject groups. MYP students also complete a
long-term project,where they decide what they want to learn about, identify what they already know,
discovering what they will need to know to complete the project, and create a proposal or criteria for
completing it.
MYP Performance Data
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of the Every Student Succeeds Act(ESSA).
71
Return to T.O.C. INTRODUCTORYSECTION
Middle Years Goals and Objectives
The following tables display student standardized test performance for the last two years.
Level II Satisfactory Phase-In 2 (Effective 2015-16). Data for the 2016-2017 school year are projections
based upon Westlake's goal to have a Level III rate of at least 50% in all subjects tested.
WRITING
Level 11 Level 11
Grade omparison Satisfactory Level III Satisfactory
Level 1: Year Phase-in 1 J6�dvanced Phase-in 2
Grade 7 2014-2015 97% 39% 93%
2015-2016 NA 28% 96%
2016-2017 NA 50% 98%
HUMANITIES
Level 11 Level 11
Grade Comparison Satisfactory Level III Satisfactory
Level Year J Phase-in 1 i7AIdvanced Phase-in 2
Grade 8 2014-2015 99% 31% 89%
2015-2016 NA 55% 99%
2016-2017 NA 55% 100%
SCIENCE
Level 11 Level 11
Grade Comparison atisfactory Level III Satisfactory
Grade 8 2014-2015 97% 28% 88%
2015-2016 NA 39% 99%
2016-2017 NA 50% 100%
SCIENCE
Level 11 Level 11
&�earPhase-in 1 _fAdvanced Phase-in 2
;APR,
Biology EOC 2014-2015 99% 38% 88%
Grade 9 2015-2016 NA 46% 100%
2016-2017 NA 50% 100%
72
Return to T.O.C. INTRODUCTORYSECTION
Middle Years Goals and Objectives
ENGLISH
Level 11 Level 11
Grade Satisfactory Level III Satisfactory
Level Comparison Year Phase-in 1 Advanced Phase-in 2
9 English 1 2014-2015 100% 60% 100%
2015-2016 NA 46% 97%
2016-2017 NA 50% 100%
10 English II 2014-2015 99% 24% 99%
2015-2016 NA 35% 99%
2016-2017 NA 50% 100%
MATH
Level 11 Level 11
IlGrade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2
Grade 6 2014-2015 97% 20% NA
2015-2016 NA 53% 97%
2016-2017 NA 53% 100%
Grade 7 2014-2015 94% 39% NA
2015-2016 NA 39% 96%
2016-2017 NA 50% 100%
Algebra 2014-2015 94% NA 51%
2015-2016 NA 53% 94%
2016-2017 NA 58% 100%
READING
Level 11 Level 11
Grade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2
Grade 6 2014-2015 100% 54% 96%
2015-2016 NA 50% 97%
2016-2017 NA 55% 100%
Grade 7 2014-2015 99% 58% 93%
2015-2016 NA 50% 96%
2016-2017 NA 55% 100%
Grade 8 2014-2015 100% 65% 100%
2015-2016 NA 45% 100%
2016-2017 NA 50% 100%
73
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Diploma Years Goals and Objectives
DIPLOMA YEARS PROGRAMME - GOALS AND OBJECTIVES
IB Diploma Programme (DP)—grades 11-12
Department Contact information
*Stacy Stoyanoff
DP Principal
sstoyanoff@westlakeacademy.org L�ooe
ACkAE5 7o r Fy
Program Service Description
DP students study six subject groups, including `
language acquisition, language and literature, ~ 4 {
individuals and societies, mathematics,the arts, and
sciences. Normally three subjects are studied at a
higher level (courses representing 240 teaching hours) Y
and the remaining three subjects are studied at a
standard level (courses representing 150 teaching
hours).
DP Performance Data
Made up of three required components, the DP core aims to broaden students' educational experience
and challenge them to apply their knowledge and skills. The three core elements include:
• Extended Essay-The extended essay offers the student the opportunity to investigate a topic of
individual interest, and acquaints students with the independent research and writing skills
expected at university.
• Theory of Knowledge (TOK)-The TOK course is plays a special role in the Diploma Programme by
providing an opportunity for students to reflect on the nature of knowledge, and on how we
know what we claim to know. As a thoughtful and purposeful inquiry into different ways of
knowing, and into different kinds of knowledge,TOK is composed almost entirely of questions.
The most central of these is "How do we know?",while other questions include:
o What counts as evidence for X?
o How do we judge which is the best model of Y?
o What does theory Z mean in the real world?
Through discussions of these and other questions, students gain greater awareness of their
personal and ideological assumptions, as well as developing an appreciation of the diversity and
richness of cultural perspectives.
• Creativity,Action,Service(CAS)- Participation in the school's CAS programme encourages
students to be involved in artistic pursuits, sports and community service work,fostering student
awareness and appreciation of life outside the academic arena.
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Return to T.O.C. INTRODUCTORYSECTION
Diploma Years Goals and Objectives
Students are assessed both internally by WA instructors and externally by IB examiners in ways that
measure individual performance against stated objectives for each subject.
• Internal assessment- In nearly all subjects at least some student assessment is carried out
internally by WA teachers, who mark individual pieces of work produced as part of a course of
study. Examples include oral exercises in language subjects, projects, student portfolios, class
presentations, practical laboratory work, mathematical investigations and artistic performances.
• External assessment-Some assessment tasks are conducted and overseen by Academy teachers
but marked externally by IB examiners. Examples include world literature assignments for
language Al,written tasks for language A2, essays for theory of knowledge and extended essays.
Because of the greater degree of objectivity and reliability provided by the standard examination
environment, externally marked examinations form the greatest share of the assessment for each
subject.
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of the Every Student Succeeds Act(ESSA).
The following tables display student standardized test performance for the last two years.
Level II Satisfactory Phase-In 2 (Effective 2015-16). Data for the 2016-2017 school year are projections
based upon Westlake's goal to have a Level III rate of at least 50% in all subjects tested.
HUMANITIES
Lei
Grade Compari Satisf qqV el III Satisfactory
Level Year Phase-lin 1 Advanced Phase-in 2
U.S. History 2014-2015 100% 62% 100%
EOC Grade 11 2015-2016 NA 71% 100%
2016-2017 NA 75% 100%
n
l
75
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Parent Survey Results
PARENT SURVEY RESULTS
Westlake Academy is focused on delivering high quality educational services and depends upon input from our
stakeholders. Westlake Academy routinely conducts an Annual Parent Survey to help identify any future needs
and to prioritize resource allocation. The most recent Westlake Academy Parent Survey was conducted in May
2015 where we saw an overall decrease in the satisfaction rate of 10%with the quality of educational services
that were provided.
W
Lj 71%of the parents surveyed were very satisfied
or satisfied with the overall quality of education
Westlake Academy delivers to its students.
72% of our parents were very satisfied or
satisfied with the IB Curriculum/Framework
Lt�.r�ll 5�tisi��tiu�1 �ciill
70% of the parents surveyed were either very satisfied or
satisfied with the academic progress of their child
76
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Debt Service and Bond Ratings
DEBT SERVICE
The Town of Westlake owns the land on which the Academy is located and all facilities associated with the
school. The Town has issued approximately$30M in debt to construct campus facilities and is responsible for
debt service payments associated with Westlake Academy's capital infrastructure.
The Town's Debt Service Fund is used to manage debt service payments,and Academy debt is accounted for
in the annual municipal budget. Average annual debt service payments for Academy facilities and
infrastructure total approximately$1.856M, and are funded primarily by municipal sales tax receipts.
Academy related debt is over 90%of the Town's debt burden. However, the school is also considered the
Town's primary economic development tool.
FY 16/17 debt service payments related to the construction of Westlake Academy facilities include:
Amount Series Number Debt Service Type
$ 701,608 on Series 2007 General Obligation Refunding Bonds
$ 482,275 on Series 2011 General Obligation Refunding Bonds
$448,732 on Series 2013 Certificates of Obligation
$ 169,950 on Series 2013 General Obligation Refunding Bonds
$ 70,220 on Series 2014 General Obligation Refunding Bonds
$1,872,785
For more information, see the Town of Westlake Municipal Budget, available online at www.westlake-tx.org.
THE TOWN OF WESTLAKE BOND RATING
Standard & Poor's Ratings Services recently STANDARD & P D O R'S
raised The Town's credit rating one notch to
'AA+' from 'AA' with a stable outlook. RATINGS SERVICES
Below is an excerpt from Standards and Poor's:
• The ratings reflect our opinion of the following factors for Westlake,specifically its:
• Inclusion in the deep and diverse Dallas-Fort Worth metropolitan statistical area(MSA)economy;
• Very strong budgetary flexibility with audited reserves more than 50%of general fund expenditures;
• Very strong liquidity,providing very strong cash to cover debt service and expenditures,and
• Strong management conditions,supported by good financial policy implementation.
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Capital Projects
CAPITAL PROJECTS
Academy related capital improvement projects are included in the Town Capital Improvement Plan and
guided by the adopted Facility Master Plan, which can be viewed at www.westlake-tx.org, or at
www.westlakeacademy.org.
Westlake Academy was originally designed and built to serve approximately 675 students; expansions in 2009
and 2014 have raised capacity to over 800 students. With the addition of almost 150 students since FY 13/14,
facilities at the school are projected to be at capacity this year.
Over the last several fiscal years the Academy has also increased course offerings in several areas, including
foreign languages,technology, and science. Expansion of services has been driven by increased enrollment,
academic needs of the students, and the IB curriculum, all of which place unique demands on staff and
resources.
Growth is directed by the Board of Trustees Facility Master Plan,which was adopted and developed to provide
a clear understanding of future growth needs at the Academy. The Facility Master Plan can be viewed at
www.westlake-tx.org or at www.westlakeacademy.org.
The following capital projects have been presented to the Board of Trustees but are currently unfunded
(under discussion only).
Project Name FY 17/18 FY 18/19 FY 19/20 FY 20/21 TOTAL
15 Classroom Secondary Addition - - 4,676,839 - 4,676,839
4 Classroom Kindergarten Addition - - 21996,035 - 2,996,035
Art &Science Classrooms - - - 11934,422 1,934,422
Performing Arts Center - - - 5,391,638 5,391,638
Sports Field Lighting 285,000 - - - 285,000
�liti $285,000 $ - $7,672,874 $ 7,326,060 $ 15,283,934
Any future additions to campus facilities will increase operational costs in conjunction with increases in
casualty insurance, faculty and maintenance personnel. These projects include estimates of their related
impacts to the operating budget in the Municipal Capital Improvement Plan, available to the public at
www.westlake-tx.org.
—IMPACT ON OPERATING BUDGET FY 19/20
WA—Phase II Secondary Addition $ 53,760
WA—Phase II Arts&Science Classroom 24,226
WA- Phase III Kindergarten Addition 28,840
WA- Phase III Performing Arts Center 11,536
TOTAL UNFUNDED PROJECTS $ 118,362
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Future Policies to be Discussed
FUTURE POLICIES TO BE DISCUSSED
Westlake Academy has several relevant financial policies to preserve and enhance the fiscal health of the
Academy. We also identify acceptable and unacceptable courses of action, and provide a standard to
evaluate the school's fiscal performance.
Very soon, GFOA will be recommending that all school districts include the following policies that guide the
development of their budget and that are central to a strategic long term approach to financial management.
1. Operating Budget Policy
This section of the Fiscal and Budgetary Policies should include the following policies that guide the
development of the budget and are central to a strategic approach to our financial management.
These components will need to be reviewed, updated if necessary, and/or added and approved by
the Board of Trustees in subsequent years.
1. Basis of Budgeting
2. Budget Adoption
3. Budget Classification and Format
4. Organization of the Budget
5. Budget Message Requirement
6. Funds Budgeted
7. Length of the Budget Year
8. Presentation of Proposed Budget
9. Revenue Forecasting Requirements
10. Expenditure Forecasting Requirements
11. Performance Measurements
12. Line-Item Transfer Authority
13. Retention of Budget Records
2. Budget Crisis Procedures
This policy is intended to provide Westlake Academy with options when responding to unexpected
fiscal issues that can and do arise. Should budget problems materialize,these procedures will
support comprehensive risk analysis and contingency plans.
3. Long Term Forecasting
The annual operating budget focuses on a single 12-month period. However, spending and revenue
decisions made today have effects that extend beyond a 12-month period. The purpose of this
policy is to
o Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
o Achieve the Academy's mission and vision
o Systematically link the annual budget to a multi-year master financial plan.
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Return to T.O.C. INTRODUCTORY SECTION
Future Policies to be Discussed
4. Reserve Policy in Other Funds
While the General Fund Reserve is the most important for the Westlake Academy, reserves in other
funds are just as important. For that reason,the funds listed in this policy shall have reserves that
are restricted or committed for specific purposes.
5. General Fund Budget Reserves
The General Fund is the primary fund used by the Westlake Academy to account for revenues and
expenditures. Accordingly,the General Fund Reserve Policy is intended to provide the Academy
with options when responding to unexpected issues and to afford a buffer against shocks and other
forms of risk.
One of two things must happen in the future if we cannot spend equal to or less than the revenues
received:
(1) increase future revenues
(2) make future expenditure reductions.
6. Capital Asset Management (already incorporated into the Fiscal and Budgetary Policies)
Westlake Academy operates an extensive amount of buildings, equipment, furniture and vehicles.
The purpose of this policy is to:
o provide a management framework to ensure that all capital assets are repaired,
maintained and replaced and,
o identify the responsible parties who shall protect, oversee and report needed repairs.
PASSWORDS ST H' wRltrEk
SrAlRllgps pRDgLLR AGREE] IFYICES INCLUDE �
PLANAPPLICATIO FRAMIIrDR� REsuunRN OISCOvERER CINDICi RECICASFINANCIAL PEN[MTiONHETWQRM ACFUAIIr PHYSECAL I'lC4ACf t�w►Ir Aar
MEASURE HS DPDArFD BACKUP",,,
REYIEWPRaYIUE �EPOF'
IPFRAiIINSSCQP CONTINUITY a n
:rPROCEDURES
VULNERABILITY = REsoE S INFOR116i" MANAGEMENTDATA
wEANNEs�s TPROCESS
CNECI ECCDROAERE AUD DISASTER SITE SCANS EM To R IIIARMM REIEm DES
EkECUiIRE APPRUYRMiE P�L C y NCOIFEIIFD p..1011 NIaTION REIIERAASLE C U R I L
ADDRESSED FIREWALL COMPUTER ACCESS ACCEPTED PLACE TRERRS
AUDITORS PRACTICES
FINDINGSI" � `
"' MEASeRdR[E INCIDENTS sE'rlEw._
.�; vi1.,, COMPLIANCE CONiROIS
COMPtETF BUSINESS CIET AHA[1SISPREEIIUS EDMMENT TECNNICAI HISTORICAL AL AssFTs
AN£'RIERS11ru n FRRM OPERATING
E1.AM.NE NAIYIAIF AAIEFk6 0 STAff FILLIk FvS:,• C[FREhi OVER4iEw
DAILY METRICS
80
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R Q zA N,,� 7= z -,-,,,\7 jN\\., z -
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82
Return to T.O.C. ORGANIZATIONAL SECTION
Board of Trustees
BOARD OF TRUSTEES
Westlake Academy is governed by a President and a five-member Board of Trustees. Each of the members is
elected for a two-year term, and members currently serve on the Town Council for the Town of Westlake. The
Board of Trustees establishes school policy, approves the Academy's annual operating budget, and serves as
the legislative body of the Academy.
f.. f
a I
I
e
i .
-�4
..i
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l
The Board holds regular meetings on one Monday of each month.These meetings typically begin with a work
shop at 5 p.m. and the regular meeting follows at 6 p.m.
All meetings are held at Westlake Town Hall, 1301 Solana Blvd., Bldg.4-Suite 4202, on the second level in the
Council Chambers/Municipal Courtroom.
Front Left to Right
• Alesa Belvedere Term expires May 2018
• Laura Wheat, President Term expires May 2018
• Carol Langdon Term expires May 2017
Back Left to Right
• Rick Rennhack Term expires May 2017
• Michael Barrett Term expires May 2018
• Wayne Stoltenberg Term expires May 2017
83
• ORGANIZATIONAL SECTION
Return to T.O.C. Organization Chart
CITIZENS OF
Advis
III kits]I
Tewn Texas Student
Attorney Housing
ToWN MANAGER AND WA SUPERINTENDENT
Town Secretary Asst Principal/
Court Assistant Athletic Director
Administrator
Assistant
Deputy Clerk Intern Student Services
Administrator
Marshal Administrative
Facilities Maintenance Staff
/Parks&Recreation
Part Time Finance Nurse
Court Clerks
WA Technician Part Time Clerk
Supervisor
PYP Primary
Court Judge
Principal
Academic — Budget Analyst
PYP
Planning& LCoordinator
Municipal — Development
Primary
Counselor
Human Resources Development
Permit Clerk Coordinator Primary
Teachers
Fire Chief BuildingBuildin
HR Generalist Inspector Interng Librarian
Fire Marshal �4Lieutenants
Information
Technology MYP Principal
EFTFirefighter Public Works
WA Technician ramedics MYP
Coordinator
Technician Coordinator
PT Firefighter Academic
Paramedics Dean
Police Services
(contracted thru the MYP Teachers
City of Keller) Executive Director
Communications W.A.Foundation
Co Principal
Communication
Assistant Coordinator
Specialist
Diploma
Teachers
This organizational chart is a visual depiction of the way work is c
distributed within the Town of Westlake and Westlake Academy. Counselor
It is also meant to be a tool to help enhance our working relationship
with our customers, students and stake-holders,and to clear channels
of communications to better accomplish our goals and objectives.
WL 84
Return to T.O.C. ORGANIZATIONAL SECTION
Mission, Vision, Values
MISSION, VISION & VALUES
Founded in 2003 with a mission to achieve academic excellence and develop life-long learners who
become well-balanced, responsible global citizens, Westlake Academy is the first and only municipally-
owned charter school in the State of Texas.The Academy is the fifth school of only ten in the United
States, and the only public school,to offer the full IB curriculum for grades K-12.
During this year's budget retreat, great care and consideration was given to the mission and vision of
the Academy and the impact that these have on both the long-term goals of the Academy and its day-
to-day operation. The vision and mission statements represent the outcome of this discussion and
evidence the Board's continued dedication to academic excellence and personal achievement. The
values statements are currently being reviewed by the Board and are listed here for reference only.
MISSION
"Westlake Academy is an IB World School whose mission is to provide students
with an internationally minded education of the highest quality,
so they are well-balanced and respectful life-long learners."
a.
VISION
"Westlake Academy inspires college bound students to achieve
their highest individual potential in a nurturing environment
that fosters the traits found in the IB learner profile."
i
Inquirers, Knowledgeable, Thinkers, Communicators, Principled,
Open-minded, Caring, Risk-takers, Balanced, and Reflective—
VALUES �V
■
■� Maximizing Personal Development
• Academic Excellence
Respect for Self and Others ■■
•• Personal Responsibility
Compassion and Understanding ■ ■
■
DESIRED OUTCOMES
The following desired outcomes summarize the goals and objectives
established by the Board of Trustees and leadership staff at the Academy: ■
High Student Achievement
Strong Parent& Community Connections ■
Financial Stewardship&Sustainability
■
■• Student Engagement-Extracurricular Activities
Effective Educators&Staff
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Financial Reporting Entity
FINANCIAL REPORTING ENTITY
LEGAL AUTONOMY
The Board of Trustees consists of six trustees (five trustees and the Board President) that also serve as the Town
Council for the Town of Westlake,the entity that owns and operates the Academy.
The Academy prepares its basic financial statements in conformity with generally accepted accounting principles
promulgated by the Government Accounting Standards Board (the "GASB") and other authoritative sources
identified in Statement on Auditing Standards No. 69 of the American Institute of Certified Public Accountants,
and it complies with the requirements of the appropriate version of the Texas Education Agency(TEA) Financial
Accountability System Resource Guide (the "Resource Guide") and the requirements of contracts and grants of
agencies from which it receives funds.
The Board has the authority to make decisions, appoint administrators and managers, and significantly influence
operations. It also has the primary accountability for fiscal matters. Therefore,the Academy is a financial
reporting entity as defined by the GASB in its Statement No. 14, "The Financial Reporting Entity."
The Academy's basic financial statements include a separate entity that is controlled by or dependent on the
Academy. The determination to include separate entities is based on the criteria of GASB Statement No. 24,
"The Financial Reporting Entity" as amended by GASB Statement No. 39, "Determining Whether Certain
Organizations are Component Units." GASB defines the reporting entity as the primary government and those
component units for which the primary government is financially accountable.
To be financially accountable, a voting majority of the component unit's ruling body must be appointed by the
primary government, and either
• the primary government can impose its will, or
• the primary government may potentially benefit financially or be financially responsible for the
component unit.
The Westlake Academy Foundation (the "Foundation") is a
501(c)3 nonprofit organization which was established
exclusively for the purposes of supporting the Academy.
This includes fundraising for and contributing raised funds to
the Academy. The Foundation is discretely presented in the
Westlake Academy financial statements and reported in a
separate column to emphasize that it is legally separate from
the Academy. Separate audited financial statements of the --
Foundation are prepared annually.
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Desired Outcomes
WESTLAKE ACADEMY'S DESIRED OUTCOMES
Westlake Academy's strategic planning structure is the product of many hours of analysis, review and
discussion. Academy staff, under the direction of the Board of Trustees, continually gathers information and
input from stakeholders, carefully tracks and analyzes student achievement, and considers economic and
demographic trends to formulate long-range goals, plan for future challenges, and develop comprehensive
guidelines that ensure student success.
Five desired outcomes have been identified and linked to the Academy's strategic planning efforts:
1. High Student Develop inquiring, knowledgeable, caring and disciplined
Achievement young people who use their unique talents to create a
better and more peaceful world through intercultural
understanding and respect.
2. Strong Parent and To involve all stakeholders in building a better Westlake
Community Academy community.
Connections
3. Financial Stewardship To ensure sufficient,well-managed resources to support
and Sustainability and advance the mission of Westlake Academy.
4. Student Engagement To ensure that all athletics, community service and
and Extracurricular extracurricular activities are held to the same standard of
Activities excellence as the curricula programs to promote well-
balanced students.
5. Effective Educators Recruit, develop and retain a core faculty and staff with the
and Staff personal qualities, skills and expertise to work effectively
with the IB inquiry-based, student-centered curricula.
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Enrollment Boundaries
ENROLLMENT BOUNDARIES
Westlake Academy's student enrollment is established by two sets of boundaries.
• The primary boundary encompasses the Town of Westlake and allows Westlake residents automatic
entry into Westlake Academy.
• The secondary boundaries are comprised of 31 of the surrounding school district's boundaries.
While any school-age child residing within
these district boundaries can attend the om
AcademY g, demand for entrance exceedin capacity may necessitate that child being
placed on the waiting list.
u
Westlake Academy's secondary boundaries 59.0% °
41.0% 32.0%
are comprised of the following Independent Li
School District boundaries:
Argyle ISD Eagle Mountain-Saginaw ISD Lake Dallas ISD
Arlington ISD Fort Worth ISD Lewisville ISD
Azle ISD Frisco ISD, Garland ISD Little Elm ISD
Birdville ISD Grand Prairie ISD McKinney ISD
Boyd ISD Grapevine-Colleyville ISD Northwest ISD
Carroll ISD Highland Park ISD Paradise ISD
Coppell ISD Hurst-Euless-Bedford ISD Ponder ISD
Decatur ISD Irving ISD Springtown ISD
Denton ISD Keller ISD Weatherford ISD
Duncanville ISD Krum ISD Carrollton-Farmers Branch ISD
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Student Enrollment
STUDENT ENROLLMENT
As an open enrollment charter school,
Westlake Academy can set and maintain
enrollment numbers at levels determined
by the Board of Trustees.
Westlake Academy has added334 Student Enrollment History
students since FY 09/10 as the result of
increased demand and planned
expansions.
The Academy will be able to serve
approximately 866 students in the 16/17 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15
school year. Actual
Future enrollment must be carefully
managed to ensure adequate space for Student Enrollment Forecast
primary boundary residents.
We plan to maintain an average class size
• 18 students per class in grades K-5
• 25 students per class in grades 6-12.
The Academy currently has over 2,000 FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
students on a waiting list spanning Amended Proposed projected projected projected projected
kindergarten through grade eleven.
The waiting list is developed each year
through a lottery process that allows the Lottery Waiting List
Academy to fill seats if student attrition
occurs and maintains a stable student
population and classroom size.
While any school-age child residing within
district boundaries can attend the
Academy, demand for entrance exceeding FY 14/15 FY 15/16 FY 16/17
capacity may necessitate that child being
placed on the waiting list.
Enrollment forecasting is based on
several items; Operating Cost per Student
• Lotter Waiting list (Academic Costs Only)
• Residents choosing the Academy
• Residential growth
• Facility Master Plan
All the above circumstances are reviewed FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
continually to assess to appropriate Amended Proposed projected projected projected projected
enrollment for each school year.
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Organizational Structure
ORGANIZATIONAL STRUCTURE
MUNICIPAL OVERSIGHT - ACADEMIC MANAGEMENT
Westlake Academy is a municipally owned, open enrollment K-12 charter school that is accredited by the
Texas Education Agency.
• The Academy is governed by a six-member Board of Trustees that also serves as the Town Council for
the Town of Westlake.
• The Board of Trustees appoints a Superintendent to oversee the Academy's management and
operations. The Superintendent also serves as Westlake's Town Manager.
• The Academy's organizational structure is based on research into management of municipally owned
charter schools.
• The current structure was adopted by the Board in Resolution 09-23 on December 7, 2009.
The Superintendent is responsible for the implementation of the Board's policy agenda for Westlake Academy,
facilitating the Board's strategic plan,formulating policy recommendations for Board consideration, and
providing managerial oversight of the Academy's budget administration, finances, and budget preparation.
Town Manager/ Executing the Board of Trustees adopted policies and hiring and
Superintendent managing all employees and department directors
Assistant Town Supporting the Town Manager/Superintendent in his assigned
Manager/ duties, overseeing departmental directors and working on special
Superintendent projects as assigned
Financial oversight of accounts payable, accounts receivable, payroll,
Finance general ledger,journal entries, capital projects,fixed assets,
Department depreciation; revenues, expenditures, assets, liabilities, and
coordinating the annual budget and audit processes for both
Municipal and Academic.
Human Resource Managing personnel needs for both the Municipal and Academic
Department staff
The Academy's Superintendent oversees the Westlake Academy Executive Leadership Team which is charged
with the responsibility of managing the school's on-going academic and extracurricular operations. Each
principal is responsible, with advisement from the Superintendent,for selection and evaluation of the faculty
and staff involved in providing their Programme's academic services.
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Organizational Structure
;we •. EXECUTIVE PRINCI PALM RECTOR
The Executive Principal/Director is the
• instructional leader for the whole school
7 and is the primary instructional leader as
well as administrative head.
• This position is responsible for implementing
off . board policies and direction from the
Cl= Superintendent and heads the executive leadership
team which focuses on whole school issues.
PRIMARY YEARS PRINCIPAL (PYP)
• The Primary Years Principal is the instructional leader for the Primary Years Programme (PYP).
• The PYP is a curriculum framework for children aged 3-12 that prepares students for the intellectual
challenges of further education and their future careers,focusing on the development of the whole child
as an inquirer, both in the classroom and in the world outside.
• The PYP Principal is responsible for ensuring proper implementation of the IB curriculum, student
performance, and recruiting, mentoring, and retaining talented faculty.
The Primary Principal is a member of the executive leadership team.
MIDDLE YEARS PRINCIPAL (MYP)
• The Middle Years Principal is the instructional leader for the Middle Years Programme (MYP).
• The MYP is a curriculum framework for children
in grades six through ten that encourages
studentsto make practical connections
i V
between their studies and the real world.• 4 �s
.:
The MYP builds on the knowledge, skills, and
attitudes developed by the Primary Years i
Programme and prepares students for the
demanding requirements of the Diploma
Programme. i
• This position is responsible for ensuring proper
implementation of the IB curriculum, student
performance, and recruiting, mentoring, and
retaining talented faculty.
• The MYP Principal is a member of the executive
leadership team.
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Organizational Structure
DIPLOMA YEARS PRINCIPAL (DP)
• The Diploma Programme Principal is the instructional
leader for the Diploma Programme (DP). k
• The DP is a challenging two-year curriculum for
students in grades 11 and 12 that provides an inquiry
based, college preparatory education. +. i
• By emphasizing knowledge, skills, critical thinking and
the fostering and development of universal human
values, students learn the valuable skill of constructing
and deconstruction knowledge.
• This position is responsible for ensuring proper
implementation of the IB curriculum, student
performance, and recruiting, mentoring, and retaining
talented faculty. I
• The DP Principal is a member of the executive
leadership team.
STUDENT SERVICES ADMINISTRATOR
• The Student Services Administrator manages the central office activities of the Academy and directs all
administrative staff.
• Responsibilities include grant management, federal and state reporting, activities of the registrar's
office, support services for the Executive Principal, and research and analysis related to performance
data and strategic planning.
• The position is a member of the executive leadership team.
DIRECTOR OF DEVELOPMENT
• The Director of Development and Westlake Academy Foundation Executive Director is primarily
responsible for the fundraising activities
of the Academy.
• The Director creates, implements, and
manages donor activities, including the
annual Westlake Academy Blacksmith J
Drive, Baja, Gallery Night, grant
applications, and other Academy or
Foundation related solicitations.
• This position is a member of the
executive leadership team.
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Balanced Scorecard System
BALANCED SCORECARD SYSTEM
The Academy is in the process of designing a strategic planning and performance management framework based
on the Balanced Scorecard System. The Balanced Scorecard is a strategic planning and management tool that is
used extensively in business and industry, government, and nonprofit organizations worldwide to align
operational activities to the vision and strategy of the organization, improve internal and external
communications, and monitor organization performance against strategic goals.
The Board of Trustees and staff utilize the "Balanced Scorecard " method to implement and review our existing
strategic framework, along with the mission,vision, and values statement of the Academy. The balanced
scorecard system is designed to communicate our strategy throughout the organization/community with our
stakeholders, align our daily work activities to the overall vision, serve as the framework for prioritizing services,
and utilize performance measures to evaluate our successes and opportunities.
The Balanced Scorecard is a strategic planning and management system that is used extensively in business and
industry, government, and nonprofit organizations worldwide to align business activities to the vision and
strategy of the organization, improve internal and external communications, and monitor organization
performance against strategic goals.
In short, it is a tool that businesses use to ensure that their work meets their goals in a measurable way by
connecting organizational strategy to
the work people do on a day-to-day
basis, i.e. "You said...we did..." STRATEGIC PLANNING & MANAGEMENT
WITH A BALANCED SCORECARD
The graphic at the right illustrates the STRATEGIC
Balanced Scorecard approach and the CUSTOMERSTAKEHOLDER NEEDS
ALTITVDE
following pages of this section 30,000 ft.
demonstrate how Westlake has
aligned with this framework. MISSION
Components include the ` VISION
o Vision, Mission,Values, 25,000 ft.
o Perspectives, STRATEGIC �
PERSPECTIVES
o Strategy Map, Performance
Measures
l STRATEGIC
THEMES AND RESULTS
o Strategic Initiatives. 15,000 ft. STRATEGIC OBJECTIVES
&STRATEGY MAP �/
Each element is critical to the success
PERFORMANCE MEASURES
of the municipality and helps us ,NO TARGETS
evaluate and communicate our
Ground STRATEGIC INITIATIVES
performance. Level i
Upon review of the existing mission
and vision statements,the Board
provided feedback to the Academic staff and requested an updated version for review. Staff reviewed the
previous version and created a more succinct statement that identifies the unique service programs, describes
our commitment to personal customer service, and outlines the financial stewardship component, which is
important to our community.
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Balanced Scorecard System
ACADEMY OF WESTLAKE STRATEGY MAP
Increase the 7UAcademy's
nce
,Citizen, Student & Future Increase ake
Stakeholder Readiness of Stakeholder All Students Satisfaction Sensece
Financial Increase
External Improve
Stewardship Revenue Financial
p Sources Stewardship
Strengthen
our Westlake
Academy
Academic
Optimize Improve the Culture
OperationsStudent Efficiencies of
Potential Operational Strengthen IB
Systems Philosophy &
ImplementatiodM
People, Attract, Recruit, Increase the Improve
Facilities & Retain & Develop Capacity of Technology,
the Highest Teachers & Facilities, &
�echnology duality Workforce Staff Equipment
STRATEGIC PERSPECTIVES
A Perspective is a view of the Academy from a specific vantage point. Four p�µpNCfq�r
ytYWARp$yIP
basic perspectives are traditionally used to encompass a Balanced Scorecard
organization's activities.The Academy's business model, which encompasses bad flm
~ y a
mission,vision, and strategy, utilizes the four Perspectives as a framework: A '
balanced scorecard is divided into four unique perspectives that help the �Noutl�o
Academy focus on the strategy that has been aligned to the vision and mission
for our community.
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Balanced Scorecard System
The four perspectives of the plan, which were customized by the Board, are as follows:
STRATEGIC PERSPECTIVES
Citizens, Students, Financial People, Facilities,
and Stakeholders: Stewardship: Academic Operations: &Technologies:
viewed through the eyes Financial oversight; focuses on processes involves, work culture,
of our customers and effective use of that create value for the innovation, leadership,
stakeholders resources customers and governance,tools and
stakeholders technology necessary to
provide services
STRATEGIC THEMES
The Academy won't have their own 'strategic themes' as they are considered a department of the Town.
Therefore, under the strategic themes for the Town is a theme of"Exemplary Education" that will encompass
everything for the Academy.
The Town Council grouped this information along with the major components of our previous strategic plan and
ranked the importance of the concepts per each area of concern. The final activity involved the formation of our
"strategic themes"for the municipal services.
staff then constructed strategy maps for each theme, identified a strategic result, populated the maps with
strategic objectives and created an
objective commentary document. All STRATEGIC THEMES
of this sets the framework for a Exemplary High Quality
comprehensive Tier One map for the Natural Service Planning, Design, Exemplary
municipal program of services. Oasis &Governance & Development Education
Preserve and We set the We are a Westlake is an
The Town Council has worked closely maintain a standard by desirable, well international
with staff to adopt a management perfect blend delivering planned, high- educational
system based on the Balanced of the unparalleled quality leader where
Scorecard framework.This was community's municipal and community that is each
developed to help the Academy direct natural educational distinguished by individual's
its own destiny rather than allow beauty. services at the exemplary design potential
future events to do so.Through sound lowest cost. standards. is maximized.
business principles the Academy can
more effectively provide services to the citizens of Westlake, increasing both efficiency and customer
satisfaction.
Ultimately, it guides the way the Academy does business and helps us determine how we should invest our time
and resources. In the budget process,this allows for increased transparency, clarity, and accountability,
providing the Academy a framework for demonstrating results.The continued quality and success of this
community does not happen without the diligent effort of a committed team of residents, businesses,
community leaders, and staff. Years of consistent planning and strategic thinking has brought Westlake where it
is today.
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Balanced Scorecard System
OBJECTIVES AND PERFORMANCE MEASURES
Performance measures hold government departments accountable. While allowing them to recognize their
successes and adjust programs of service that are under performing. Because performance measures are
determined according to the Strategy Map, it becomes evident how each department aligns with Academy
goals, and how well departments are meeting the expectations set by the Strategy Map.
PERSPECTIVES OBJECTIVES These performance measures help determine
the quantity and quality of our work, as
Increase the Future identified in our plans. We consistently evaluate
Citizens, Readiness of All Students our work and review our performance quarterly
Students, Increase Stakeholder because we firmly believe that what gets
And Satisfaction measured gets done.
Stakeholders
Enhance Westlake Academy's In addition to monitoring these performance
Unique Sense of Place measures, the Academy of Westlake also desires
• Increase External the opinion of its citizens. Every two years
Financial Revenues Sources Westlake undertakes a broad citizen survey
Stewardship . Improve Financial designed to measure government performance
Stewardship and to gauge the current and future needs of
residents.
• Optimize Student
Potential This survey is an incredibly useful tool within the
• Improve the Efficiencies strategic management system, and it allows
Academic of Operational Systems Academy services to be tailored based upon
Operations . Strengthen our Westlake citizen attitudes. Westlake's performance
Academy Culture measures are evolutionary and undergo on-
going review.
• Strengthen IB Philosophy
and Implementation As we improve our ability to gather and mine
Attract, Recruit, Retain data about our work, we will be able to add
& Develop the Highest performance measures to the departmental
People, Quality Workforce business plans as a gauge of success.These
Facilities, . Increase the Capacity of departmental efficiency and effectiveness
and Teachers and Staff measures will be grouped with the appropriate
Technologies • Improve Technology, outcome objective then fed into the Academy-
wide scorecard to give an overall picture of the
Facilities& Equipment Academy's performance.
As the Academy continues to develop these scorecards, measurement units, data sources, and targets will be
refined.Through quarterly performance reviews, departmental performance is documented.Trends are also
tracked over time through budget documents.
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Budget Overview and Process
BUDGET OVERVIEW
Projecting the budget allocations of the Academy is a continual process that responds to the changing needs of
the Academy students and staff as well as variations in the fiscal environment such as the reduced State funding
from FY 09/10. The development of the Academy budget for fiscal year 16/17 began with the Westlake Board of
Trustees meeting that was held in May of 2016.
The Academy approach to balancing the combination of fast student growth in a restricted funding environment
along with increasing academic standards requires that the budget process be instructionally driven and guided
by the Academy's Strategic Plan. During the budget development process the staff reviewed all revenues and
expenditures and focused on aligning the allocation of resources, both personnel and financial, with the
accomplishment of established goals and outcome objectives contained in our Strategy Map.
The Board of Trustees regularly receives quarterly budget updates, some of which are detailed in the trend
analysis and the five-year financial forecast discussed later in this document. Upon receipt of the adopted
annual budget,the Board holds budget workshops to review adopted changes, their associated outcomes for
the next fiscal year, as well as their impact in a five (5)year financial forecast.
Following is a summary of the nine main steps taken in preparation of the adopted budget:
1. Budget Preparation ,
2. Fund Types and Structure
3. Basis of Accounting and Budgeting
4. The Budget Process
5. Balanced Budget ►■
6. Budget Amendments .
7. Budget Adoption
8. Long Term Forecasting
9. Budget Calendar _
BUDGET PREPARATION
As in previous years, efforts have been made to control expenditures while continuing to deliver an excellent
level of service to our citizens. Concentrated efforts have been made to produce a document that clearly
illustrates the uses of Academy resources in a format that may be utilized as a resource tool by the Board of
Trustees, Academy staff, and the citizens of Westlake. Our budget preparation process continues to be refined
on an annual basis, operating within clearly defined budget preparation guidelines.
Budgeting is an essential element of the financial planning, control and evaluation process of municipal
government. The "operating budget" is the Academy's annual financial operating plan. The budget includes all
the operating departments of the Academy, the debt service fund, all capital projects funds, and the internal
service funds of the Academy. The proposed budget will be prepared with the cooperation of all Academy
departments, and is submitted to the Superintendent who makes any necessary changes and transmits the
document to the Board of Trustees. A budget preparation calendar and timetable will be established and
followed in accordance with State law.
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Budget Overview and Process
A"bottom-up"approach is used to solicit input from the staff Leadership Team as to their operations' needs
with an emphasis on:
• Identifying costs to provide the current level of services.
• Identifies additional cost increases needed to maintain the current level of service.
• Additional resources necessary to provide new or increased levels of service.
• Delineating changes in fund balance levels for each fund.
The following procedures,which are guided by generally accepted budgeting practices, have been
established:
• The annual operating budget presents appropriations of expenditures and estimates of revenues for all
local government funds. These revenues include sales and use taxes, ad valorem property tax, citation
revenue,franchise taxes, mixed beverage taxes, license and permit fees, development fees, sales of
printed material, interest income,water and sewer utility revenue, duct bank leases, and miscellaneous
revenues.
• The annual operating budget illustrates expenditures, anticipated revenues, and the estimated impact
on reserves.
• Budgets for each department are broken down into specific cost components, including payroll/salaries,
payroll related & benefits,supplies, services, insurance, repair& maintenance, rent & utilities, economic
development incentives, and capital outlay.
• Revenue projections are prepared for each revenue source based on an analysis of historical revenue
trends and current fiscal conditions.
• The budget process includes a multi-year projection of all required capital improvements.
• Goals and objectives have been developed for each department and are incorporated into the
evaluation of employees and performance of the organization.
• A budget message summarizing local financial conditions and principal budget issues is presented to the
governing council along with the annual budget.
FUND TYPES AND STRUCTURE
The accounts of the Academy are organized and operated on a basis of funds. A fund is an independent fiscal
and accounting entity with a self-balancing set of accounts. Fund accounting segregates funds per their intended
purpose and is used to aid management in demonstrating compliance with finance related legal and contractual
provisions.The minimum number of funds is maintained consistent with legal and managerial requirements.
Academy funds are classified into two categories: governmental and fiduciary.
• FIDUCIARY FUNDS
The funds account for resources that are held in trust for individuals or other governments, in this case
monies that are held in a custodial capacity for the benefit of student organizations.
• GOVERNMENTAL FUNDS
The funds are used to account for the Academy's general government activities, including the collection
and disbursement of specific or legally restricted monies. Governmental funds use the flow of current
financial resources measurement focus and the modified accrual basis of accounting.
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Budget Overview and Process
Under the modified accrual basis of accounting, revenue is recognized when it becomes susceptible to accrual,
i.e., when it becomes measurable and available. Measurable means the amount of the transaction can be
determined and available means collectible within the current period or soon enough thereafter to pay liabilities
of the current period.The Academy considers revenues available if they are collected within 60 days after year-
end. Expenditures are recognized when the related fund liability is incurred.
• Foundation State Program (FSP) funds are susceptible to accrual.
• Miscellaneous revenue items, which are not susceptible to accrual, are recognized as revenue only as
they are received in cash.
• Entitlements and grants are recognized as revenue at the time of receipt or earlier if the susceptible to
accrual criteria are met.
Expenditure driven grants are recognized as revenue when the qualifying expenditures have been incurred and
all other grant requirements have been met.
Governmental funds include the following:
• The General Fund is the Academy's primary operating fund. It accounts for all financial resources of the
Academy, except those required to be accounted for in another fund.
• Special Revenue Funds account for the revenue sources that are legally restricted to expenditures for
specific purposes.
BASIS OF BUDGETING AND ACCOUNTING
The term basis of budgeting is used to describe when events or transactions are recorded and recognized.
In the Modified Accrual Basis,
• revenues are recognized in the period when they became available and measurable
• expenditures are recognized when the liability is incurred
In the Accrual Basis,
• revenues are recorded when earned
• expenses when the liability is incurred
The basis of budgeting and accounting is shown in the chart below:
Annual Audited
Operating Budget Financial Statements
GOVERNMENTAL FUNDS
• General Fund Modified Accrual Modified Accrual
• Special Revenue Funds Modified Accrual Modified Accrual
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Budget Overview and Process
Budgets are prepared on the same basis of accounting that is used in
financial statements. The basis of budgeting refers to when revenues
and expenditures are recognized in the corresponding accounts and
reported in financial statements.
Governmental fund types, including the general fund, are budgeted
using the Current Financial Resources Measurement Focus and the
Modified Accrual Basis of Accounting. Westlake Academy's only
Fiduciary Fund (the Agency Fund, described below) is not a budgeted
fund.
THE BUDGET PROCESS
The Academy's fiscal year begins each year on September 1st and
ends on August 31st of the following calendar year. Prior to the
beginning of the fiscal year,the Superintendent must submit a
proposed budget to the Board of Trustees which includes:
• A budget message
• A consolidated statement of anticipated revenues and proposed expenditures for all funds
• General fund resources in detail
• Special fund resources in detail
• A summary of proposed expenditures by department and activity
• Detailed estimates of expenditures shown separately to support proposed expenditures
The budget preparation process begins early in the calendar year with the establishment of overall Academy
goals, objectives, and analysis of current year operations compared to expenditures.
• Budget policies and procedures are reviewed at the same time to reduce errors and omissions.
• In May,the Finance Department prepares budget forms and instructions for estimating revenues and
expenditures.
• Department heads submit proposed baseline expenditures for current service levels and any additional
one-time or on-going request they may have for their department.
• A round-table meeting is subsequently held with the Superintendent, the finance staff and each
department head for review.
• After all funding levels are established and agreed upon the proposed budget is presented by the
Superintendent to the Board of Trustees.
• A public hearing on the budget is conducted in accordance with state and local law.
• This meeting is held after the Board has reviewed the budget during a workshop.
• The Board of Trustees approves a level of expenditure (or appropriation)for each fund to go into effect
on September 1st, prior to the expenditure of any Academy funds for that budget year.
BALANCED BUDGET
As per State Law, current operating revenues will be sufficient to support current operating expenditures.
Annually recurring revenue will not be less than annually recurring operating budget expenditures (operating
budget minus capital outlay). Debt or bond financing will not be used to finance current expenditures.
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Budget Overview and Process
BUDGET AMENDMENT PROCESS
The Superintendent may request that the current year budget be amended at the function level. In this process,
the Superintendent will review the documentation and draft an ordinance to formally amend the current
budget.This ordinance is presented to the Board of Trustees for consideration. Following the consideration of
the proposed amendment,the Board will vote on the amendment ordinance. If the amendment is approved,
the necessary budget changes are then made. All budget amendments will be approved by the Board of
Trustees prior to the expenditure of funds more than the previously authorized budgeted amounts within each
fund.
The Final Amended Budget for the Year Ending August 31, 2016 will be submitted at the August 2016 Board
meeting. It will reflect all amendments previously approved by the Board of Trustees plus any final amendments.
Often,these amendments influence the shaping of the current budget as actual trends in revenues and
expenditures are realized and accounted for at that time.
Department Directors are responsible for monitoring
their respective department budgets. Budget Amendment is requested
Forwarded to Finance department
t
The Finance Department will monitor all financial
0 •Finance Director reviews
operations. The budget team will decide whether to Z *If approved -forward to Superintendent
proceed with a budget amendment and, if so, will then
present the request to the Board of Trustees. If the *Superintendent reviews
Board decides a budget amendment is necessary, the 3. -If approved-forward to Board of Trustees
amendment is adopted in resolution format and the
necessary budgetary changes are then made. -Board of Trustees review for approval
4.
BUDGET ADOPTION 5. *Finance enters budget amendment
Legal requirements for charter school budgets are
formulated by the state and the TEA. A Board typically
adopts an appropriated budget on a basis consistent with GAAP for the general fund, debt service fund and child
nutrition program (which is included in special revenue funds). However,the Academy does not maintain a
debt service fund or a child nutrition program;therefore,only the General Fund is required to be adopted.
Special Revenue Funds are not adopted by the governing body, and are shown for informational purposes
only. At a minimum, the Academy is required to present the original and the final amended budgets for
revenues and expenditures compared to actual revenues and expenditures for the General Fund. The Board of
Trustees conducts the required public meeting and adopts the budget in August prior to beginning the fiscal
year which runs from September 1st to August 31st.
LONG TERM FORECASTING
Most annual operating budget documents focus on a single 12-month period where spending and revenue
decisions made today will have effects that extend beyond that fiscal year. Because of that, the Academy
requires that long-term forecasting be made part of the Annual Operating Budget document.
The purpose of the policy is to
a. Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
b. Achieve the Academy's mission and vision
c. Systematically link the annual budget to a multi-year master financial plan.
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Budget Overview and Process
Should long term forecasts and analysis show that the school system does not have a "positive operating
balance" over the multi-year period,the Academy shall bring this to the attention of the Superintendent.
A "positive operating balance" means that the ending fund balance meets or exceeds the minimum levels
prescribed in the Academy's reserve policies.
We anticipate the General Fund will maintain its minimum reserve for each of the four fiscal years beyond the
current prosed budget year.
Positive Unassigned
Fund Operating Fund Operating Dollars Per
Name Balance Balance Days Operating Day
FY 17/18 YES $ 1,193,701 52 $23,069
FY 18/19 YES $1,218,870 52 $23,382
FY 19/20 YES $1,353,702 58 $23,244
FY 20/21 YES $1,412,211 60 $23,566
BUDGET CALENDAR
The Budget Process covers the financial cycle starting with budget planning and ending with the audited annual
financial report.
Tin KDescription of Acti
October- Dec Strategic Plan review and development occurs
December Westlake Academy Instructional Leadership Team (ILT) begins planning upcoming budget
January ILT meets with WA affiliates for joint planning
Jan - March Review/Develop CIP, Five Year Projection & Personnel Cost Estimates
April Develop improvement plans for each grade level/dept.
May Strategic Plan preparation process occurs; preliminary budgets developed
May BOT Budget Retreat
June Current budget review; budget amendments for current year if necessary
August BOT consideration/adoption of Westlake Academy Budget for Upcoming School Year
October Annual financial audit
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Debt Service and Bond Ratings
DEBT SERVICE
The Town of Westlake owns the land on which the Academy is located and all facilities associated with the
school. The Town has issued approximately$30M in debt to construct campus facilities and is responsible for
debt service payments associated with Westlake Academy's capital infrastructure.
The Town's Debt Service Fund is used to manage debt service payments,and Academy debt is accounted for
in the annual municipal budget. Average annual debt service payments for Academy facilities and
infrastructure total approximately$1.856M, and are funded primarily by municipal sales tax receipts.
Academy related debt is over 90%of the Town's debt burden. However, the school is also considered the
Town's primary economic development tool.
FY 16/17 debt service payments related to the construction of Westlake Academy facilities include:
Amount Series Number Debt Service Type
$ 701,608 on Series 2007 General Obligation Refunding Bonds
$ 482,275 on Series 2011 General Obligation Refunding Bonds
$448,732 on Series 2013 Certificates of Obligation
$ 169,950 on Series 2013 General Obligation Refunding Bonds
$ 70,220 on Series 2014 General Obligation Refunding Bonds
$1,872,785
For more information, see the Town of Westlake Municipal Budget, available online at www.westlake-tx.org.
THE TOWN OF WESTLAKE BOND RATING
Standard & Poor's Ratings Services recently STANDARD & P D O R'S
raised The Town's credit rating one notch to
'AA+' from 'AA' with a stable outlook. RATINGS SERVICES
Below is an excerpt from Standards and Poor's:
• The ratings reflect our opinion of the following factors for Westlake,specifically its:
• Inclusion in the deep and diverse Dallas-Fort Worth metropolitan statistical area(MSA)economy;
• Very strong budgetary flexibility with audited reserves more than 50%of general fund expenditures;
• Very strong liquidity,providing very strong cash to cover debt service and expenditures,and
• Strong management conditions,supported by good financial policy implementation.
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Capital Projects
CAPITAL PROJECTS
Academy related capital improvement projects are included in the Town Capital Improvement Plan and
guided by the adopted Facility Master Plan, which can be viewed at www.westlake-tx.org, or at
www.westlakeacademy.org.
Westlake Academy was originally designed and built to serve approximately 675 students; expansions in 2009
and 2014 have raised capacity to over 800 students. With the addition of almost 150 students since FY 13/14,
facilities at the school are projected to be at capacity this year.
Over the last several fiscal years the Academy has also increased course offerings in several areas, including
foreign languages,technology, and science. Expansion of services has been driven by increased enrollment,
academic needs of the students, and the IB curriculum, all of which place unique demands on staff and
resources.
Growth is directed by the Board of Trustees Facility Master Plan,which was adopted and developed to provide
a clear understanding of future growth needs at the Academy. The Facility Master Plan can be viewed at
www.westlake-tx.org or at www.westlakeacademy.org.
The following capital projects have been presented to the Board of Trustees but are currently unfunded
(under discussion only).
Project Name FY 17/18 FY 18/19 FY 19/20 FY 20/21 TOTAL
15 Classroom Secondary Addition - - 4,676,839 - 4,676,839
4 Classroom Kindergarten Addition - - 2,996,035 - 2,996,035
Art &Science Classrooms - - - 1,934,422 1,934,422
Performing Arts Center - - - 5,391,638 5,391,638
Sports Field Lighting 285,000 - - - 285,000
$285,000 $ - $7,672,874 $7,326,060 $ 15,283,934
Any future additions to campus facilities will increase operational costs in conjunction with increases in
casualty insurance, faculty and maintenance personnel. These projects include estimates of their related
impacts to the operating budget in the Municipal Capital Improvement Plan, available to the public at
www.westlake-tx.org.
IMPACT ON OPERATIW BUDGET FY 19/20
WA—Phase II Secondary Addition $ 53,760
WA—Phase II Arts&Science Classroom 24,226
WA- Phase III Kindergarten Addition 28,840
WA- Phase III Performing Arts Center 11,536
F$ 118,362
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Indirect Operating Costs
INDIRECT OPERATING COSTS
The Academy operates under a shared service model with the Town of Westlake, whereby the Town provides
Human Resources, Financial, Facilities, and Administrative support services to the Academy.
The shared services model was an integral part of the charter application process that helped bolster the
Town's case for having a community school. The shared service model conserves precious resources and
avoids the duplication of effort across Town and Academy activities.
The support services for the Academy that generate
indirect costs paid by the Town of Westlake are:
• Human Resources
• Information Technology
• Facility Maintenance Services
• Finance and Accounting Services
• General Managerial Oversight (Superintendent)
• Town Secretary records maintenance and election
administration
• Board Support Services including policy advisement
INDIRECTand strategic planning
MUNICIPAL INDIRECT COSTS
Fmended Adopted Increase Increase
FY 2015/16'IFFY 2016/17 Amount Percent
Transfer to WA Operating Budget $ 315,000 $ 315,000 $ - 0%
Annual Debt Service 1,858,591 2,033,785 175,194 9%
Major Maintenance & Replacement 247,920 338,805 90,885 37%
In-direct Operating Costs (Salaries) 627,641 674,130 46,489 7%
$ 3,049,152 $ 3,361,720 $ 312,568 10%
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Financial Budget Structure
FINANCIAL BUDGET STRUCTURE
Westlake Academy operates as a blended component unit of the Town of Westlake and is a Texas non-profit
corporation under Chapter 12, Subchapter D of the Education Code.
Annual A budget is required to be adopted annually for the General Fund (Westlake Academy
Budget does not maintain a Debt Service Fund or child nutrition program). The budget is
adopted on a basis consistent with generally accepted accounting principles. All
appropriations lapse at fiscal year-end.
On or before August 31st of each year,the Superintendent submits for review by the
Board of Trustees a proposed budget for the upcoming school year. After reviewing
the proposed budget and holding public meetings as necessary,the final budget is
prepared and adopted.
The appropriated budget is prepared by fund and function. The Board may make
transfers between functions within a fund, and may amend the total budget following
the same procedures required to adopt the original budget. The legal level of
budgetary control is at the fund level.
Key Public charter schools in the State of Texas do not have taxing authority, nor do they
Revenues receive facility funding. Consequently, the Academy receives most General Fund
revenues via the State Funded Foundation School Program (FSP), and is
disproportionately affected by changes in FSP funding levels set by the Texas
legislature.
Over the last two legislative sessions funding for public education has increased
slightly, but overall funding still falls short of FY 09/10 levels. Note that the amount of
state aid received through the Foundation School Program is a function of the total
number of students enrolled at the Academy as well as the additional funding from
Career and Technical Education classes.
Key Compensation and benefits are the largest operating cost for Westlake Academy,
Expenditures comprise most total operating expenditures. The current forecast assumes no further
expansions of curriculum or other programme areas that would necessitate additional
staff. Other costs including utilities, supplies, and professional services are held at 1%
unless additional revenue sources are realized.
Fund The Superintendent and Board of Trustees are devoted to safeguarding and
Balance improving the financial condition of Westlake Academy. The Academy shall strive to
maintain an unassigned General Fund Balance of 45 days of operation, and Fund
Balance monies will only be used with Board approval for specific needs. Board policy
stipulates that all future increases in expenditures must be offset by new or additional
revenues. A full listing of Fund Balance policies can be found at the end of this
section.
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Account Coding Structure
ACCOUNT CODING STRUCTURE
Financial transactions within funds are organized and classified through the account code system. Section
44.007 of the Texas Education Code (Code or TEC) requires that a standard school district fiscal accounting
system be adopted by each school district.The system must meet at least the minimum requirements
prescribed by the State Board of Education and be subject to review and comment by the state auditor.
Additionally,the accounting system must conform to Generally Accepted Accounting Principles (GAAP).This
section further requires that a report be provided at the time that the school district budget is filed, showing
financial information sufficient to enable the state board of education to monitor the funding process and to
determine educational system costs by school district, campus and program.
The Texas Education Code, Section 44.008, requires each school district to have an annual independent audit
conducted that meets the minimum requirements of the State Board of Education, subject to review and
comment by the state auditor.The annual audit must include the performance of certain audit procedures for
reviewing the accuracy of the fiscal information provided by the district through the Public Education
Information Management System (PEIMS).
The audit procedures are to be adequate to detect material errors in the school district's fiscal data reported
through the PEIMS system for the fiscal period under audit. A major purpose of the following accounting code
structure is to establish the standard school district fiscal accounting system required by law.
Although certain codes within the overview may be used at local option, the sequence of the codes within the
structure, and the funds and chart of accounts, are to be uniformly used by all school districts in accordance
with Generally Accepted Accounting Principles (GAAP).
ACCOUNT CODE STRUCTURE
Sub Organization Program Local
"FuRMFunMctionn
bject Code Object Code Year Intent Option
Code Code XXXX Code XXX Code Code Code
XXX XX XX X XX XXX
(1xxx- (11-99) 1X—Assets (XX) (001-999) (0-9) (11-99) (XXX)
8xxx) 2X—Liabilities
Account 3X—Fund Equity
Groups 4X—Clearing Accts
(9xx) 5X—Revenues
6X—Expenditures
7X—Other Resources
8X—Other Uses
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Fund Types and Structure
FUND TYPES AND STRUCTURE
Westlake Academy, along with other School Districts throughout the State of Texas, record and report all
financial transactions using standard set by the Governmental Accounting Standards Board (GASB) and
General Accepted Accounting Principles (GAAP). Accordingly,these standards require all School Districts to
use individual funds that must be categorized into one of 11 Funds Types.
ALL FUND TYPES
Governmental Proprietrary Fiduciary
Funds Funds Funds
General Fund Internal Service Funds Pension Trust Funds
3 Funds do not have 4
do not have
Special Revenue Funds Investment Trust Funds
8 Funds Enterprise Funds do not have
do not have
Debt Service Fund Private Trust Funds
do not have do not have
Capital Project Funds Agency Funds
do not have 1 fund
Permanent Funds
do not have
GENERAL FUND
The General Fund is comprised of three subordinate funds: General, Athletic Activities, and Transportation.
This fund accounts for most the operational activities required to maintain the Academy's facilities and pay its
employees. The fund is supported by State and local revenues.
GOVERNMENTAL
FUNDS TYPES
• Fund 199 General Fund-This classification must be used for funds '
in which the local governing board designates. The local governing
board has wide discretion in their use as provide by law. This fund General Fund
usually includes transactions because of revenues from local
sources and State Foundation School Program Sources. Any locally
199 General Fund
defined code that is used at the local option is to be converted to
Fund 199 for PEIMS reporting.
198 Athletic Fund
197Transportation Fund
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Fund Types and Structure
• Fund 198 Athletic Activities-This locally defined fund code is used to account for expenditures for
athletics that normally involve competition between schools (and frequently involve offsetting gate
receipts or fees such as football, baseball,volleyball,track,tennis and golf). This fund is converted to
Fund 199 for PEIMS reporting.
• Fund 197 Transportation/Parking-This locally defined fund code is used to account for revenues and
expenditures related to transportation for students as well as to collect parking fees and remit them to
the Town of Westlake as a reimbursement for the expense of the new parking lot built in the summer
of 2010 (funded by the Town).This fund is converted to Fund 199 for PEIMS reporting.
SPECIAL REVENUE FUNDS GOVERNMENTAL
Special Revenue Funds account for local, state and L FUNDS TYPES
federally financed programs or expenditures legally
restricted for specified purposes or where unused Special Revenue Funds
balances are returned to the grantor at the close of a
specified project period. These funds are not adopted
by the governing body, and are shown here for Fund 495 =Fund224Fund-an-Item
informational purposes only.
Fund 496 Fund 410
• Fund 224 IDEA-B Formula (Federally funded)-
Hudson Foundation Material Allotment
Fund is used, on a project basis,for funds
Fund 497 Fund 461
granted to operate educational programs for WA Foundation Campus Activities
children with disabilities.
Fund 498 Fund 484
• Fund 410 Material Allotment (State funded) - Int'I Mindedness Local Grants
Funds to purchase the instructional materials
that will be used to support the Texas Essential Knowledge and Skills (TEKS)
• Fund 461 Campus Activities (Locally funded) - Fund is to be used to account for transactions related to
a principal's activity fund if the monies generated are not subject to recall by the school district's
Board of Trustees into the general fund. These funds provide after-school activities at Westlake
Academy.
• Fund 484 Local Grants (Locally funded)—These funds represent small grants from Westlake Academy
Foundation and the House of Commons for specific purposes.
• Fund 495 Westlake Academy Fund-an-Item (Locally funded)—Represents funds raised annually at
Gallery Night for specific items for the Academy.
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Fund Types and Structure
• Fund 496 Hudson Foundation (Locally funded)—These funds will be used in two fiscal years to
support extended learning with Strength Finders; Great Expectations training; beginning of the year
school activities; coaching with Marsha Clark, Summer Reading Support Camp; transformational space
in secondary building; discretionary funds for teachers to attend the Ron Clark Academy; IAAPA;
DaVerse Lounge experience; international experience for current grade 10 students, International
Mindedness Teacher Symposium; and House Innovations.
• Fund 497 Westlake Academy Foundation Financial Assistance(Locally funded) -This grant from the
Westlake Academy Foundation provides financial assistance for student activities.
• Fund 498 International Mindedness Educator Symposium (Locally funded)—Fund will be used for the
annual symposium hosted by Westlake Academy focusing on global collaboration.
FIDUCIARY FUND TYPES
Westlake Academy has a single Fiduciary-type fund, called the Agency Fund, which accounts for resources held
in a custodial capacity for the benefit of student organizations. The Agency Fund is not a budgeted fund.
r -
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Revenue Classifications
REVENUE CLASSIFICATIONS
LOCAL FUNDING REVENUES
Local funding consists of the following major sources,the Town of Westlake, Westlake Academy Foundation
(WAF) and the Hudson Foundation.
o The Town of Westlake provides administrative, human resources, facilities, and financial services for
the Academy and is responsible for all debt service payments relating to Academy facilities and
infrastructure.
o The Westlake Academy Foundation is an independent, non-profit organization that raises funds
through donations and various fundraising efforts. The WAF conducts several annual fundraising
activities, including the Blacksmith Campaign, an annual fund drive that was started to bridg the
funding gap between what charter schools receive in state allocations in comparison to local ISDs. It
mainly directs fund raising efforts towards the parents of Academy students and tries to leverage
these donations with the employers who have matching programs for individuals that contribute
time or money to non-profits.The Blacksmith Campaign is held each year in the month of October
and each family is asked to contribute $2,500 per student to help cover the gap between the state
public education funding and what the Academy spends on each student.
o The Hudson Foundation is an independent, non-profit organization that supports organizations who
are innovative and who develop programs that create new ways on knowing. Westlake Academy
has been the proud recipient of a Hudson Grant since 2010. These funds are used for teacher
training, innovative learning space and student travel and accounted for in Special Revenue Funds.
STATE FUNDING
State funding (State's Foundation School Program - FSP) is the Academy's largest revenue source. Funding
for public education has increased slightly over the last two legislative sessions, but overall funding still falls
short of the FY 2009/10 school year. The Texas economy has been strong,
but ongoing litigation regarding public education funding has created a
hesitancy to adjust funding projections until the courts have ruled upon
the constitutionality of the current funding methodology. Consequently,
x the Academy continues to utilize prior year funding levels when
developing financial models and forecasts.
( FEDERAL FUNDING
Federal funding is received through rants that support special
g � g g pp p
education.
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Expenditure Classification by Function
EXPENDITURES CLASSICATIONS
BY FUNCTION CODES
FUNCTION CODES - GENERAL DESCRIPTIONS
A function code represents a general operational area at the Academy and groups together related activities.
The assignment and use of function numbers is based on the financial accountability standards established by
the Texas Education Agency in accordance with the Texas Administrative Code. The function code is a 2-digit
number that follows the 3-digit fund code in the accounting number scheme.
FUNCTION
CODE FUNCTION CODE DECRIPTION
11 Instruction
12 Instructional Resources&Media Sources
13 Curriculum Development&Instruction/Staff Development
21 Instructional Leadership
23 School Leadership(Principal)
31 Guidance,Counseling&Evaluation Services
32 Social Work Services
33 Health Services
34 Student(Pupil)Transportation
35 Food Services
36 Co-curricular/Extracurricular Activities
41 General Administration(Superintendent/Board)
51 Plant Maintenance and Operations
52 Security and Monitoring Services
53 Data Processing Services
61 Community Services
71 Debt Service
81 Facilities Acquisition and Construction
10 Instruction and Instructional Related Services
• Function 11-Instruction-This function is used for activities that deal directly with the interaction between
teachers and students.This function includes expenditures for direct classroom instruction and other
activities that deliver,enhance,or direct the delivery of learning situations to students. Expenditures for the
delivery of instruction in regular program basic skills, bilingual and ESL programs, compensatory, remedial or
tutorial programs,gifted and talented education programs,and vocational education programs are classified
in function 11. For example,function 11 includes classroom teachers,teacher assistants,and graders, but
does not include curriculum development(function 13)or principals(function 23).
• Function 12-Instructional Resources and Media Services-This function is used for expenditures that are
directly and exclusively used for resource centers,establishing and maintaining libraries,and other major
facilities dealing with educational resources and media. For example,function 12 includes librarians, but
does not include textbooks(function 11)or reference books in the classroom (also function 11).
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Expenditure Classification by Function
• Function 13-Curriculum Development and Instructional Staff Development-This function is used for
expenditures that are directly and exclusively used to aid instructional staff in planning, developing, and
evaluating the process of providing learning experiences for students.This function also includes
expenditures related to research and development activities that investigate, experiment and/or
follow-through with the development of new or modified instructional methods,techniques,
procedures, services, etc. For example, this function includes staff that research and develop,
innovative new or modified instruction and staff who prepare in-service training for instructional staff,
but does not include salaries of instructional staff when attending in-service training(function 11 or 12).
20 Instructional and School Leadership
• Function 21- Instructional Leadership-This function encompasses those district-wide activities which
have as their purpose managing,directing,and supervising the general and specific instructional programs
and activities. For example,function 21 includes instructional supervisors but does not include principals
(function 23).
• Function 23-School Leadership-This function includes expenses for directing, managing,and supervising
a school. It includes salaries and supplies for the principal,assistant principal,and other administrative and
clerical staff, including attendance clerks.
30 Support Services—Student
• Function 31-Guidance,Counseling,and Evaluation Service-This function includes expenses for testing
and assessing student abilities,aptitudes,and interests with respect to career and educational goals and
opportunities. It includes psychological services,testing,and counseling.
• Function 32-Social Work Services-This function includes expenditures which directly and exclusively
promote and improve school attendance. Examples include social workers, non-instructional home visitors,
home visitor aides,and truant officers.
• Function 33- Health Services-This function embraces the area of responsibility providing health services
which are not a part of direct instruction. It includes medical,dental,and nursing services.
• Function 34-Student Transportation-This function includes the cost of providing management and
operational services for transporting students to and from school. Function 34 includes transportation
supervisors and bus drivers, but does not include field trips (function 11) or student organization trips
(function 36).
• Function 35- Food Services-This function includes the management of the food service program at the
schools and the serving of meals, lunches, or snacks in connection with school activities. Function 35
includes cooks and food purchases, but does not include concession stands(function 36).
• Function 36-Co-curricular/Extracurricular Activities-This function incorporates those activities which
are student and curricular related, but which are not necessary to the regular instructional services.
Examples of co-curricular activities are scholastic competition, speech, debate, and band. Examples of
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Expenditure Classification by Function
extracurricular activities are football, baseball, etc. and the related activities (drill team, cheerleading)
that exist because of athletics. Function 36 includes athletic salary supplements paid exclusively for
coaching, directing, or sponsoring extracurricular athletics, but does not include salaries for teaching
physical education (function 11).
40 Support Services -Administrative
• Function 41-General Administration-This function includes expenses incurred for the overall
administrative responsibilities of the District. It includes expenses for the school board,
superintendent's office, personnel services, and financial services.
50 Support Services - Non Student Based
• Function 51- Plant Maintenance-This function deals with expenditures made to keep buildings,
grounds, and equipment safe for use and in efficient working condition.This function also includes
expenditures associated with warehousing services. Examples include janitors,facility insurance
premiums, utilities, and warehouse personnel.
• Function 52-Security and Monitoring Services-This function is used for expenditures that are for
activities to keep student and staff surroundings safe, whether in transit to or from school, on a
campus, or participating in school-sponsored events at another location.
• Function 53- Data Processing Services-This function is for non-instructional data processing services
which include computer facility management, computer processing, systems development, analysis,
and design. Personal computers that are stand alone are to be charged to the appropriate function.
Peripherals including terminals and printers are also to be charged to the appropriate function.
60 Ancillary Services
• Function 61-Community Services-This function encompasses all other activities of the school district,
which are designed to provide a service or benefit to the community as a whole or a portion of the
community. Examples would include recreation programs, natatorium, and parenting programs.
70 Debt Service
dual flue dam gr.l
• Function 71— Debt Service—This function includes muss¢Riulms��¢q
puss¢ la I �
expenditures for bond and lease purchase principal, uuCu'sloc�poin No. Isl di°wd
j lac�sWs Ls¢I, p¢*tl m¢hml 4ge p�ll�
and all types of interest aid. (no¢¢icfAfui } sIdd eua�s6�pnsmds Il
Yp p ¢p u444 N 3Ct�VV�y n�II¢i cadud
r m ai°urdBflY�IOVfVG11�
appliss�e�laC�r��m di�ealial¢tl pla�e�¢dl
80 Capital Outla w7 ¢¢uda9emullal¢tl hands On °tlmu¢¢
p a 6 pollooCCSI°u�oV�d��gdiff��e�t Ilislm
• Function 81-Capital Acquisition &Construction- �nrnln
This function includes expenditures that are wud¢shcerem¢dwA M01
ha¢d Npa¢¢dsi¢004hrl�l I¢sm�SI)�StIVCfIOV dea
acquisitions, construction, or major renovation of k¢da du¢on¢s Iaal�els
Academy facilities.
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Expenditure Classification by Object&Shared
EXPENDITURE CLASSIFICATIONS
BY OBJECT CODE
OBJECT CODE GENERAL DESCRIPTIONS
The object number is a 4-digit code that describes the type of revenue or expenditure incurred and is
comprised of the fifteenth through eighteenth digits in the code structure. For example:
• 61XX Payroll and Payroll Related
• 62XX Professional &Contracted Services
• 63XX Supplies and Materials
• 64XX Other Operating Costs
• 65XX Debt Service
• 66XX Capital
EXPENDITURES BY SHARED SERVICES MODEL
The Academy operates under a shared service model with the Town of Westlake, whereby the Town
provides Human Resources, Financial, Facilities, and Administrative support services to the Academy. These
service costs were previously booked to the Westlake Academy operating budget, but were removed from
the operating budget in the FY 12/13 school year.
The following indirect operating costs are booked to the Town of Westlake's General Fund and Debt Service
Fund.
• Municipal-Transfer to WA Operating Budget
• Annual Debt Service Payments
• General Major Maintenance and Replacement
• In-direct Operating Costs (Payroll and Related)
The shared services model was an integral part of the charter application process that helped bolster the
Town's case for having a community school. The shared service model conserves precious resources and
avoids the duplication of effort across Town and Academy activities.
The support services for the Academy that generate indirect costs paid by the Town of Westlake are:
• Human Resources
• Information Technology
• Facility Maintenance Services
• Finance and Accounting Services
• General Managerial Oversight (Superintendent)
• Town Secretary records maintenance and election administration
• Board Support Services including policy advisement and strategic planning
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Relationship between Funds and Departments
RELATIONSHIP BETWEEN FUNDS AND DEPARTMENTS
Y
Q
L O O C
LU
Q L In
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> afO1 H 3 N Q W > N cCa C _C C
in O U u
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u u i u C C 7 fa 2 ++ U d U d U
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�+ F+ L ++ .5 (O u i C C v m y m y M N
n n N O '^ u 7 al aO� O O cu ca 0_ 0 to 0 to O N
E E oC U E U) C7 2 v� U U 0 a O
FUND NAME 11 12 13 21 23 31 33 34 36 41 51 53 61 71
GENERAL FUND
Fund 199 -
General Fund
Fund 198
Athletics
Fund 197
Transportation
SPECIAL REVENUE FUNDS
Fund 224
IDEA-B Formula
Fund 410
Material Allotment
Fund 461 ✓
Campus Activities
Fund 480
Hudson Foundation
Fund 484 ✓
Local Grants
Fund 494
WAF Science Grant
Fund 496 ✓
Hudson Foundation
Fund 497
W.A. Foundation
Fund 498 ✓
I.M.E.S.
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Significant Accounting Policies
SIGNIFICANT ACCOUNTING POLICIES
The Board of Trustees has established and regularly updates a comprehensive set of financial policies for the
Academy. The Superintendent and Board of Trustees are devoted to safeguarding and improving the financial
condition of Westlake Academy. Board policy stipulates that all future increases in expenditures must be
offset by new or additional revenues. A full listing of Fund Balance policies can be found at the end of this
section.
Key features of the Fiscal & Budgetary Policies include:
• Operating Budget
• Revenues Management
• Expenditure Control
• Fund Balance
• Intergovernmental Relationships
• Grants
• Fiscal Monitoring
• Financial Consultants
Accounting, Auditing, and Financial Reporting
• Internal Controls
• Asset Management
The table below lists the revenues and expenditures for each year since the Academy began operating. The
Fund Balance column lists the accumulated ending fund balance (the chart does not show transfers in/out
which influence the fund balance each year);the percentage that follows this column represents the ratio of
fund balance to annual expenditures i.e. in FY 04/05, 14%correlates to the$232,091 fund balance that was
equal to approximately 14%of annual expenditures of$1,612,198 for the same fiscal year. Daily cost is
calculated by dividing the annual expenditure amount by 365 days. The minimum dollar and minimum
percentage amounts are calculated based on the Board's financial policy of maintaining a minimum of 45 days
of operating costs in fund balance, i.e. daily cost multiplied by 45.
Unassigned
Fiscal Fund Daily Min. Min
Year Status Revenues Expenditures Balance % Cost $$ %
FY 03/04 Audited $1,094,608 $1,068,857 $12,391 1% $ 2,928 $131,777 12%
FY 04/05 Audited $1,831,898 $1,612,198 $232,091 14% $ 4,417 $198,764 12%
FY 05/06 Audited $2,407,526 $2,211,897 $427,720 19% $ 6,060 $272,700 12%
FY 06/07 Audited $2,879,531 $2,615,511 $691,740 26% $ 7,166 $322,460 12%
FY 07/08 Audited $3,168,968 $3,226,254 $634,454 20% $ 8,839 $397,757 12%
FY 08/09 Audited $3,661,645 $3,709,086 $502,322 14% $ 10,162 $457,285 12%
FY 09/10 Audited $4,280,723 $3,917,886 $753,772 19% $ 10,734 $483,027 12%
FY 10/11 Audited $4,608,573 $4,518,107 $798,851 18% $ 12,378 $557,027 12%
FY 11/12 Audited $5,244,170 $5,287,757 $814,487 15% $ 14,487 $651,915 12%
FY 12/13 Audited $5,640,930 $5,496,177 $959,240 17% $ 15,058 $677,611 12%
FY 13/14 Audited $6,560,141 $6,733,873 $1,024,517 15% $ 18,449 $830,204 12%
FY 14/15 Audited $7,822,292 $7,364,652 $1,482,157 20% $20,177 $907,971 12%
FY 15/16 Estimated $8,430,982 $8,803,848 $1,106,391 12% *$24,120 $1,085,406 12%
FY 16/17 Adopted $8,399,173 $8,397,745 $ 1,107,819 13% $23,008 $1,035,338 12%
Greater daily cost due to purchase of technology by using designated fund balance.
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Significant Accounting Policies
FUND BALANCE POLICIES
The Superintendent and Board of Trustees are devoted to safeguarding and improving the financial condition
of Westlake Academy. The Superintendent and Board of Trustees are devoted to safeguarding and improving
the financial condition of Westlake Academy.
The Academy shall strive to maintain an unassigned General Fund Balance of 45 days of operation, and Fund
Balance monies will only be used with Board approval for specific needs.
Fund Balance History
(shown in millions) $0,959
$0.634 $1.025 $1.106 $1.108
$0.754 $0.799 $0.814 U.502
FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
AMENDED PROJECTED
Fund Balance Forecast
(shown in millions)
$1.106 $1.108 $1.194 $1.219 $1.354 $1.412
FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
AMENDED PROPOSED PROJECTED PROJECTED PROJECTED PROJECTED
There are four primary reasons to maintain an adequate fund balance:
1. Cash Flow—It is essential for the Board of Trustees to have enough cash on hand for payroll and other
obligations to be made timely. In addition, most state and federal grants require the Academy to make
payment first before the grant will make reimbursement.
2. Unforeseen Events— Reserves often act as a contingency to meet unbudgeted and unexpected needs,
thus allowing time to make permanent changes to the budget and preventing fiscal problems from
needlessly worsening.
3. Financial Security—A fund reserve demonstrates a sign of financial strength and security to banking
and financial institutions allowing the Town of Westlake to borrow funds and sell bonds when
additional facilities need to be built or renovated at more favorable rates,thus saving the taxpayers
money.
4. Interest Earning—Having a fund balance allows the Academy to earn additional revenues.
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Future Policies to be Discussed
FUTURE POLICIES TO BE DISCUSSED
Westlake Academy has several relevant financial policies to preserve and enhance the fiscal health of the
Academy. We also identify acceptable and unacceptable courses of action, and provide a standard to
evaluate the school's fiscal performance.
Very soon, GFOA will be recommending that all school districts include the following policies that guide the
development of their budget and that are central to a strategic long term approach to financial management.
1. Operating Budget Policy
This section of the Fiscal and Budgetary Policies should include the following policies that guide the
development of the budget and are central to a strategic approach to our financial management.
These components will need to be reviewed, updated if necessary, and/or added and approved by
the Board of Trustees in subsequent years.
1. Basis of Budgeting
2. Budget Adoption
3. Budget Classification and Format
4. Organization of the Budget
5. Budget Message Requirement
6. Funds Budgeted
7. Length of the Budget Year
8. Presentation of Proposed Budget
9. Revenue Forecasting Requirements
10. Expenditure Forecasting Requirements
11. Performance Measurements
12. Line-Item Transfer Authority
13. Retention of Budget Records
2. Budget Crisis Procedures
This policy is intended to provide Westlake Academy with options when responding to unexpected
fiscal issues that can and do arise. Should budget problems materialize,these procedures will
support comprehensive risk analysis and contingency plans.
3. Long Term Forecasting
The annual operating budget focuses on a single 12-month period. However, spending and revenue
decisions made today have effects that extend beyond a 12-month period. The purpose of this
policy is to
o Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
o Achieve the Academy's mission and vision
o Systematically link the annual budget to a multi-year master financial plan.
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Future Policies to be Discussed
4. Reserve Policy in Other Funds
While the General Fund Reserve is the most important for the Westlake Academy, reserves in other
funds are just as important. For that reason,the funds listed in this policy shall have reserves that
are restricted or committed for specific purposes.
5. General Fund Budget Reserves
The General Fund is the primary fund used by the Westlake Academy to account for revenues and
expenditures. Accordingly,the General Fund Reserve Policy is intended to provide the Academy
with options when responding to unexpected issues and to afford a buffer against shocks and other
forms of risk.
One of two things must happen in the future if we cannot spend equal to or less than the revenues
received:
(1) increase future revenues
(2) make future expenditure reductions.
6. Capital Asset Management (already incorporated into the Fiscal and Budgetary Policies)
Westlake Academy operates an extensive amount of buildings, equipment, furniture and vehicles.
The purpose of this policy is to:
o provide a management framework to ensure that all capital assets are repaired,
maintained and replaced and,
o identify the responsible parties who shall protect, oversee and report needed repairs.
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Fiscal and Budgetary Policies
FISCAL AND BUDGETARY POLICIES
I. STATEMENT OF PURPOSE
The broader intent of the following Fiscal and Budgetary Policy Statements is to enable the Academy to
achieve a long-term stable and positive financial condition. The watchwords of the Academy's financial
management include integrity, prudent, stewardship, planning, accountability, and full disclosure.
The more specific purpose is to provide guidelines to the Finance Director in planning and directing the
Academy's day-to-day financial affairs and in developing recommendations to the Academy Superintendent
or his designate and Academy Board of Trustees.
The scope of these policies generally span, among other issues, accounting, purchasing, auditing, financial
reporting, internal controls, operating budgeting, revenue management, cash and investment management,
expenditure control, asset management, debt management, and planning concepts,to:
• Present fairly and with full disclosure the financial position and results of the financial operations of
the Academy in conformity with generally accepted accounting principles (GAAP), and
• Determine and demonstrate compliance with finance related legal and contractual issues in
accordance with provisions of the Texas Local Government Code and other pertinent legal
documents and mandates.
The Academy Board of Trustees will annually review and approve the Fiscal and Budgetary Policy
Statements as part of the budget process.
II. SUMMARY OF POLICY INTENDED OUTCOMES
This policy framework mandates pursuit of the following fiscal objectives:
• Operating Budget: Prepare conservatively, estimate revenues, present and adopt the Academy's
annual operating plan.
• Revenues Management: Design, maintain and administer a revenue system that will assure a
reliable, equitable, diversified and sufficient revenue stream to support desired Academy services.
• Expenditure Control: Identify priority services, establish appropriate service levels and administer
the expenditure of available resources necessary to assure fiscal stability and the effective and
efficient delivery of services.
• Fund Balance: Maintain the fund balance of the various operating funds at levels sufficient to
protect the Academy's creditworthiness as well as its financial position from emergencies.
• Intergovernmental Relationships: Coordinate efforts with other agencies to achieve common
policy objectives, share the cost of providing governmental services on an equitable basis and
support favorable legislation at the State and Federal level.
• Grants: Seek, apply for and effectively administer Federal, State, and foundation grants-in-aid
which address the Academy's current priorities and policy objectives.
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Fiscal and Budgetary Policies
• Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and forecast the
Academy's financial performance and economic condition.
• Financial Consultants: With available resources, seek out and employ the assistance of qualified
financial advisors and consultants in the management and administration of the Academy's
financial functions.
• Accounting,Auditing,and Financial Reporting: Comply with prevailing Federal, State and local
statues and regulations. Conform to generally accepted accounting principles as promulgated by
the Government Accounting Standards Board (GASB),the American Institute of Certified Public
Accountants (AICPA), and the Government Finance Officers Association (GFOA).
• Internal Controls:To establish and maintain an internal control structure designed to provide
reasonable assurances that the Academy's assets are safeguarded and that the possibilities for
material errors in the Academy's financial records are minimized.
III. OPERATING BUDGET
• Preparation—Budgeting is an essential element of the financial planning, control, and evaluation
process. The "operating budget" is the Academy's annual financial operating plan related to
educational service instructional costs.
The Academy operating budget is legally required to include the Academy's General, Debt Service,
and Food Service Funds. Currently, Westlake Academy only has one fund,the General Fund,
which must be legally adopted annually. The Academy budgets the Special Revenue Funds for
informational purposes only.
Information to be prepared includes documentation related to Service Level Adjustments (SLAB)
for increases to existing service levels or additional services, position control schedules, general
and administrative cost implications, etc.will be submitted and reviewed during the budget
process.SLA's related to new position requests will include an assessment of their impact on
additional internal services necessary to support these positions as it relates to General &
Administrative (G&A) charges in the Academy budget (subject to funding availability)to fund these
costs. A budget preparation calendar and timetable will be established and followed in
accordance with State law.
• Revenue Estimates for Budgeting-To maintain a stable level of services,the Academy shall use a
conservative,objective,and analytical approach when preparing revenue estimates.The process shall
include analysis of probable economic changes and their impacts on revenues, number of students,
and trends in revenues. It will also include an assessment of the State legislative environment related
to public charter school funding levels. This approach should reduce the likelihood of actual revenues
falling short of budget estimates during the year and should avoid mid-year service reductions.
• Balanced Budget—A balanced budget is a budget with total expenditures not exceeding total
revenues and monies available in the fund balance within an individual fund.
• Proposed Budget Content and Process—A proposed budget shall be prepared by the
Superintendent or his designate with the participation of the Academy's Leadership Team, Finance
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Fiscal and Budgetary Policies
Director and Academy staff, and then submitted to the Superintendent for review. Following the
Superintendent's review,the proposed budget will be presented to the Board for its
consideration.
The proposed budget shall include five basic segments for review and evaluation:
1. personnel costs,
2. base budget for operations and maintenance costs,
3. service level adjustments for increases of existing service levels or additional services,
4. revenues, and
5. General Administrative (G&A) costs.
The proposed budget review process shall include Board of Trustees review of each of the five
segments of the proposed budget and a public hearing to allow for citizen participation in the
budget preparation process. Concurrent with the Academy budget preparation,Town staff will
identify and provide to the Board all direct Academy expenses contained in the Town's municipal
budget. The proposed budget process shall allow sufficient time to provide review as well as
address policy and fiscal issues by the Board of Trustees. A copy of the proposed budget shall be
filed with the Town Secretary when it is submitted to the Board of Trustees as well as placed on
the Academy's website.
• Budget Adoption - Upon the determination and presentation of the final iteration of the proposed
budget document as established by the Board of Trustees, a public hearing will be set and
publicized. The Board will subsequently consider a resolution which, if adopted, such budget
becomes the Academy's Annual Budget. The adopted budget will be effective for the fiscal year
beginning September 1.
• Budget Amendments—The Superintendent or his designate and Finance Department will monitor
all financial operations. A school district must amend the official budget before exceeding a
functional expenditure category, i.e., instruction, administration, etc. in the total budget.The
budget team will decide whether to proceed with the budget amendment and, if so, will then
present the request to the Board of Trustees. If the Board decides a budget amendment is
necessary,the amendment is adopted in resolution format and the necessary budgetary changes
are then made.
• Planning—The budget process will be coordinated to identify major policy issues for the Board of
Trustees by integrating it into the Board's overall strategic planning process for the Academy.
• Reporting- Monthly financial reports will be prepared by the Finance Department and distributed
to the Superintendent or his designate. Information obtained from financial reports and other
operating reports is to be used by personnel to monitor and control the budget. Summary
financial reports will be presented to the Board quarterly.
IV. REVENUE MANAGEMENT
A. REVENUE DESIGN PARAMETERS. The Academy will strive for the following optimum characteristics in
its revenue system:
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Fiscal and Budgetary Policies
Simplicity-The Academy,where possible and without sacrificing accuracy, will strive to keep the
revenue system simple to reduce costs, achieve transparency, and increase parent and citizen
understanding of Academy revenue sources.
Certainty-A thorough knowledge and understanding of revenue sources increases the reliability of
the revenue system.
• Administration -The benefits of a revenue source will exceed the cost of administering that
revenue. Every effort will be made for the cost of administration to be reviewed annually for cost
effectiveness as a part of the indirect cost and cost of service analysis.
• Equity-The Academy shall make every effort to maintain equity in its revenue system: i.e. the
Academy shall seek to minimize or eliminate all forms of subsidization between entities.
• Adequacy, Diversification and Stability—To the extent practical,the Academy shall attempt to
achieve a balance in its revenue system. The Academy shall also strive to maintain a balanced and
diversified revenue system to protect the Academy from fluctuations in any one source due to
changes in local economic conditions which adversely impact that source.
B. REVENUE CLASSIFICATION AND SOURCES. The revenues received by Westlake Academy are classified
into one of three broad categories: Federal, State or Local and come from the following sources:
• State Education funding
• State and Federal Grants
• General Donations—The Academy recognizes that private donations comprise a significant
part of the Westlake Academy budget. All funds received will become part of the budget and
be subject to appropriation for Academy general operations.
o Westlake Academy Foundation
o House of Commons
o Westlake Academy Athletic Club
o Local Merchants
o Specific Purpose Donations—Funds donated for a specific purpose
C. REVENUE MONITORING. Revenues as they are received will be regularly compared to budgeted
revenues and variances will be investigated. This process will be summarized in the appropriate
budget report.
V. EXPENDITURE CONTROL
• Appropriations—The point of budgetary control is at the function level in the General Fund and
Special Revenue Funds. When budget adjustments among functions are necessary, they must be
approved by the Board of Trustees.
• Current Funding Basis-The Academy shall operate on a current funding basis. Expenditures shall
be budgeted and controlled so as not to exceed current revenues plus the planned use of fund
balance accumulated through prior year savings. (The use of fund balance shall be guided by the
Fund Balance/Retained Earnings Policy Statements.)
• Avoidance of Operating Deficits-The Academy shall take immediate corrective actions if at any
time during the fiscal year expenditure and revenue re-estimates are such that an operating deficit
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Fiscal and Budgetary Policies
(i.e., projected expenditures more than projected revenues) is projected at year-end. Corrective
actions can include a hiring freeze, expenditure reductions, or use of fund balance within the Fund.
Use of fund balance must be recommended by the Superintendent and approved by the Board of
Trustees.
o Expenditure deferrals into the following fiscal year, short-term loans, or use of one-time
revenue sources shall be avoided to balance the budget.
o All service level adjustments that result in increases to the operating budget must be
aligned with offsetting increases in operating revenues (FSP, Local Sources, etc.).
• Periodic Program Reviews-The Superintendent or his designate shall undertake periodic staff and
third-party reviews of Academy programs for both efficiency and effectiveness. Where
appropriate, privatization and contracting with other governmental agencies will be evaluated as
alternative approaches to service delivery. Service delivery which is determined to be inefficient
and/or ineffective shall be reduced in scope or eliminated.
• General and Administrative (G&A) Charges—To the extent practical, an annual analysis of G&A
charges will be performed and, if available,funding may be allocated at the Board's discretion.
The analysis shall involve an objective consideration of the service demands currently being met
by municipal staff to support Academy operations and a determination of factors that will
continue to affect and increase the time needed for the performance of these services.
For example, new Academy staff requires additional support staff time to perform tasks related to
insurance, payroll, etc. Where feasible, G&A costs will be charged to all funds for services of
indirect general overhead costs, which may include general administration,finance,facility use,
personnel,technology, engineering, legal counsel, and other costs as deemed appropriate.
If funding is not available,these costs will be shown below the line of the financial statement in
the five-year financial forecast to promote transparency and provide the Board with a full cost
accounting of services. The charges will be determined through an indirect cost allocation study
following accepted practices and procedures.
• Purchasing-The Academy shall make every effort to maximize any discounts offered by
creditors/vendors. Staff shall also use purchasing cooperatives as well as competitive bidding in
accordance with State law to attain the best possible price on goods and services.
• Prompt Payment-All invoices will be paid within 30 days of receipt in accordance with the
prompt payment requirements of State law.
• Salary-The Academy shall strive to maintain competitive salary levels for faculty and staff. A
salary survey will be conducted annually, sampling surrounding Independent School Districts and
Charter Schools, to create a comparison. The Academy will strive to maintain salary levels within
three percent (3%) of the median of surveyed schools.
VI. FUND BALANCE
• Fund Balance Reporting-The District shall report governmental fund balances per GASB 54
definitions in the balance sheet as follows: Non-spendable, Restricted, Committed,Assigned, and
Unassigned.
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Fiscal and Budgetary Policies
• General Fund Unassigned Fund Balance-The Academy shall maintain the General Fund
unassigned fund balance at 45 days of operation.
• Use of Fund Balance- Fund Balance will be targeted to only be used with Board approval and can
be only be used for the following: emergencies, non-recurring expenditures, such as
technology/FF&E (furniture, fixtures and equipment), or major capital purchases that cannot be
accommodated through current year savings. Should such use reduce the balance below the
appropriate level set as the objective for that fund, recommendations will be made on how to
restore it.
The Board of Trustees shall approve all commitments by formal action. The action to commit
funds must occur prior to fiscal year-end, to report such commitments in the balance sheet of the
respective period, even though the amount may be determined after fiscal year-end. A
commitment can only be modified or removed by the same formal action.The Board of Trustees
delegates the responsibility to assign funds to the Superintendent or his/her designee. The Board
of Trustees shall have the authority to assign any number of funds. Assignments may occur after
fiscal year-end.
The Board of Trustees will utilize funds in the following spending order: Restricted, Committed,
Assigned, and Unassigned.
VII. INTERGOVERNMENTAL RELATIONSHIPS
• Inter-local Cooperation in Delivering Services-To promote the effective and efficient delivery of
services,the Academy shall actively seek to work with other local entities in joint purchasing
consortium, sharing facilities, sharing equitably the costs of service delivery, and developing joint
programs to improve service to its students.
• Legislative Program -The Academy shall cooperate with other entities to actively oppose any
state or federal regulation or proposal that mandates additional Academy programs or services
and does not provide the funding to implement them. Conversely, as appropriate,the Academy
shall support legislative initiatives that provide additional funding.
VIII. GRANTS
• Grant Guidelines-The Academy shall apply, and facilitate the application by others,for only those
grants that are consistent with the objectives and high priority needs previously identified by
Academy Board of Trustees.The potential for incurring ongoing costs,to include the assumption
of support for grant funded positions from local revenues, will be considered prior to applying for
a grant.
• Grant Review-All grant submittals shall be reviewed for their cash match requirements,their
potential impact on the operating budget, and the extent to which they meet the Academy's
policy objectives. If there are cash match requirements,the source of funding shall be identified
prior to application. Staff will focus on one-time grants to avoid long-term implications related to
additional expenditures in future years.
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Fiscal and Budgetary Policies
• Grant Program Termination-The Academy shall terminate grant funded programs and associated
positions when grant funds are no longer available unless alternate funding is identified and
obtained.
IX. FISCAL MONITORING
• Financial Status and Performance Reports-Quarterly reports comparing expenditures and
revenues to current budget, noting the status of fund balances to include dollar amounts and
percentages, and outlining any remedial actions necessary to maintain the Academy's financial
position shall be prepared for review by the Superintendent and the Board of Trustees. Student
roster information will also be included in the quarter reports submitted to the Board of Trustees.
• Compliance with Board Policy Statements-The Fiscal and Budgetary Policies will be reviewed
annually by the Board of Trustees and updated, revised or refined as deemed necessary. Policy
statements adopted by the Board of Trustees are guidelines, and occasionally, exceptions may be
appropriate and required. However, exceptions to stated policies will be specifically identified, and
the need for the exception will be documented and fully explained.
X. FINANCIAL CONSULTANTS
• The Academy employs the assistance of qualified financial advisors and consultants as needed in
the management and administration of the Academy's financial functions.These areas include but
are not limited to investments, debt administration,financial accounting systems, program
evaluation, and financial impact modeling.Advisors shall be selected on a competitive basis using
objective questionnaires and requests for proposals based on the scope of the work to be
performed.
XI. ACCOUNTING, AUDITING, AND FINANCIAL REPORTING
• The Academy strives to comply with prevailing local, state, and federal regulations relative to
accounting, auditing, and financial reporting. Accounting practices and financial reporting shall
conform to generally accepted accounting principles as promulgated by the Governmental
Accounting Standards Board (GASB), the American Institute of Certified Public Accountants,
(AICPA), and the Government Finance Officers Association (GFOA).The Board shall select an
independent firm of certified public accountants to perform an annual audit of all operations.
Required Texas Education Agency (TEA) account coding will be used for all revenue and
expenditure reporting.
• Accounting-Currently, the Education Service Center(Region 11) books all revenues and
expenditures, and prepares bank reconciliations. Academy staff is responsible for all coding and
approval of expenditures and revenues. Documentation and coding of deposits are forwarded to
the Town's Finance Department for review and preparation of deposit slips.
Town's Finance Director and staff are responsible for review and transfer of invoices and other
documentation to the Service Center for processing as well as the physical deposit of funds. It is
the responsibility of the Superintendent or his designate and Academy staff to review the monthly
reports for any discrepancies and report to the Town's Finance Director for analysis and re-class of
questioned bookings, if appropriate.
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Fiscal and Budgetary Policies
• External Auditing-Academy will be audited annually by outside independent accountants
(auditors). The auditors must be a CPA firm and must demonstrate significant experience in the
field of local government auditing. They must conduct the Academy's audit in accordance with
generally accepted auditing standards. The auditors' report on Academy's financial statements
will be completed within a timely period of the Academy's fiscal year-end.
The auditor will jointly review the management letter with the Academy Board of Trustees, if
necessary. In conjunction with this review,the Finance Director shall respond in writing to the
Academy Board of Trustees regarding the auditor's Management Letter, addressing the issued
contained therein. The Academy will not require auditor rotation, but will circulate request for
proposal for audit services on a periodic basis as deemed appropriate.
• Responsibility of Auditor to Academy Board of Trustees-The auditor is retained by and is
accountable directly to the Academy Board of Trustees and will have access to direct
communication with the Academy Board of Trustees if the Academy Staff is unresponsive to
auditor recommendations or if the auditor considers such communication necessary to fulfill its
legal and professional responsibilities.
• Internal Financial Reporting-The Finance Department will prepare internal financial reports
sufficient for management to plan, monitor, and control Academy's financial affairs.
XII. INTERNAL CONTROLS
• Written Procedures-Whenever possible, written procedures will be established and maintained
by the Finance Director and utilized by all Academy personnel for all functions involving
purchasing, cash handling and/or accounting throughout the Academy. These procedures will
embrace the general concepts of fiscal responsibility set forth in this policy statement.
• Academy Staff Responsibilities-The Superintendent or his designate, in consultation with the
Finance Director,will be responsible for ensuring that appropriate internal controls are followed
throughout the Academy,that all directives or internal controls are implemented, and that all
independent auditor internal control recommendations are addressed. Staff will develop and
periodically update written internal control procedures.
XIII. ASSET MANAGEMENT
• Investments—The Finance Director shall promptly invest all Academy funds with the depository
bank in accordance with the provisions of the current Bank Depository Agreement or in any
negotiable instrument authorized by the Academy Board of Trustees. The Academy Board of
Trustees has formally approved a separate Investment Policy for Westlake Academy that meets
the requirements of the Public Funds Investment Act (PFIA), Section 2256 of the Texas Local
Government Code. The Academy's investment practices will be conducted in accordance with this
policy.The Finance Director will issue quarterly reports on investment activity to the Academy
Board of Trustees.
• Cash Management-Academy's cash flow will be managed to maximize the cash available to
invest. Such cash management will entail the centralization of cash collections,where feasible,
including field trips, and other collection offices as appropriate. Periodic review of cash flow
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Fiscal and Budgetary Policies
position will be performed to determine performance of cash management and conformance to
investment policies. The underlying theme will be that idle cash will be invested with the intent to
(1) safeguard assets, (2) maintain liquidity, and (3) maximize return.
• Capital Assets and Inventory-Such assets will be reasonably safeguarded, properly accounted for
and prudently insured. The capital assets inventory will be updated regularly.
• Capital Assets—Currently all capital assets of Westlake Academy are owned and purchased by the
Town of Westlake. In subsequent years, additional asset purchases may be paid with Westlake
Academy funds.
• Capitalization Criteria—For purposes of budgeting and accounting classification,the following
criteria must be capitalized:
o The asset is owned by the Westlake Academy
o The expected useful life of the asset must be longer than one year, or extend the life on an
identifiable existing asset by more than one year
o The original cost of the asset must be at least$5,000
o The asset must be tangible
o On-going repairs and general maintenance are not capitalized
o New Purchases—All costs associated with bringing the asset into working order will be
capitalized as a part of the asset cost. This includes startup costs, engineering or consultant
type fees as part of the asset cost once the decision or commitment to purchase the asset
is made. The cost of land acquired should include all related costs associated with its
purchase
o Improvements and Replacement—Improvement will be capitalized when they extend the
original life of an asset or when they make the asset more valuable than it was originally.
The replacement of assets components will normally be expensed unless they are a
significant nature and meet all the capitalization criteria.
• Computer System/Data Security—The Academy shall provide security of its computer/network
system and data files through physical and logical security systems that will include, but are not
limited to: network user authentications,firewalls, content filtering, spam/virus protection, and
redundant data backup.
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Investment Policy
INVESTMENT POLICY
I. POLICY STATEMENT
It is the policy of the Westlake Academy (the "Academy")that the administration of its funds and
the investment of those funds shall be handled as its highest public trust.
Investments shall be made in a manner which will provide the maximum security of principal
invested through limitations and diversification while meeting the daily cash flow needs of the
Academy and conforming to all applicable state and Academy statutes governing the investment
of public funds.
The receipt of a market rate of return will be secondary to the requirements for safety and
liquidity. It is the intent of the Academy to be in complete compliance with local law and the
Texas Public Funds Investment Act(the "Act",Texas Government Code 2256).
The earnings from investments will be used in a manner that best serves the public trust and
interests of the Academy.
II. SCOPE
This Investment Policy applies to all the financial assets and funds held of the Academy.
Any new funds created by the Academy will be managed under the provisions of this Policy unless
specifically exempted by the Academy Board of Trustees and this Policy.
III. OBJECTIVES AND STRATEGY
It is the policy of the Academy that all funds shall be managed and invested with four primary
objectives, listed in order of their priority: safety, liquidity, diversification and yield. These
objectives encompass the following.
• Safety of Principal-Safety of principal is the foremost objective of the Academy.
Investments shall be undertaken in a manner that seeks to insure the preservation of
capital in the overall portfolio.The suitability of each investment decision will be made on
the basis of safety.
• Liquidity-The Academy's investment portfolio will remain sufficiently liquid to enable it
to meet all operating requirements which might be reasonably anticipated. Investment
decisions will be based on cash flow analysis of anticipated expenditures.
• Diversification- Diversification is required in the portfolio's composition. Diversification
will include diversification by maturity and market sector and will include the use of a
number of broker/dealers or banks for diversification and market coverage. Competitive
bidding will be used on each sale or purchase.
• Yield -The Academy's investment portfolio shall be designed with the objective of
attaining a reasonable market yield,taking into account the Academy's risk constraints
and cash flow needs. A reasonable market yield for the portfolio will be defined as the six
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Investment Policy
month (180 day) U.S.Treasury Bill which compares to the portfolio's maximum weighted
average maturity of six months.
The authorized investment purchased will be of the highest credit quality and marketability
supporting the objectives of safety and liquidity. Securities,when not matched to a specific
liability, will be short term to provide adequate liquidity. The portfolio shall be diversified to
protect against market and credit risk in any one sector.
The maximum weighted average maturity of the portfolio will be no more than 180 days and the
maximum stated maturity of any security will not exceed two years. The funds are combined for
investment purposes but the unique needs of all the funds in the portfolio are recognized and
represented.
Effective cash management is recognized as essential to good fiscal management. Cash
management is defined as the process of managing monies in order to ensure maximum cash
availability. The Academy shall maintain a cash management program which includes timely
collection of accounts receivable, prudent investment, disbursement of payments within invoice
terms and the management of banking services.
IV. LEGAL LIMITATIONS, RESPONSIBILITIES AND AUTHORITY
Specific investment parameters for the investment of public funds in Texas are stipulated in the
Public Funds Investment Act, Chapter 2256,Texas Government Code, (the "Act"). The Act is
attached as Exhibit A.
The Public Funds Collateral Act, Chapter 2257,Texas Government Code, specifies collateral
requirements for all public funds deposits. The Collateral Act is attached as Exhibit B.
The Interlocal Cooperation Act, Chapter 791,Texas Government Code, authorizes local
governments in Texas to participate in a Texas investment pool established thereunder.
V. DELEGATION OF INVESTMENT AUTHORITY
The Finance Director of the Town of Westlake, acting on behalf of the Board of Trustees, is
designated as the Investment Officer of the Academy and is responsible for all investment
management decisions and activities.
The Board of Trustees is responsible for considering the quality and capability of staff, investment
advisors, and consultants involved in investment management and procedures. All participants in
the investment process shall seek to act responsibly as custodians of the public trust.
The Investment Officer shall develop and maintain written administrative procedures for the
operation of the investment program which are consistent with this Investment Policy.
Procedures will include safekeeping,wire transfers, banking services contracts, and other
investment related activities.
The Investment Officer shall be responsible for all transactions undertaken and shall establish a
system of controls to regulate the activities of subordinate officials and staff.
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Investment Policy
The Investment Officer shall designate a staff person as a liaison/deputy in the event
circumstances require timely action and the Investment Officer is not available.
No officer or designee may engage in an investment transaction except as provided under the
terms of this Policy and the procedures established by the Investment Officer and approved by the
Superintendent.
VI. PRUDENCE
The standard of prudence to be used in the investment function shall be the "prudent person"
standard and shall be applied in the context of managing the overall portfolio. This standard
states:
"Investments shall be made with judgment and care, under circumstances then prevailing, which
persons of prudence, discretion, and intelligence exercise in the management of their own affairs,
not for speculation, but for investment, considering the probable safety of their capital as well as
the expected income to be derived."
• Limitation of Personal Liability-The Investment Officer and those delegated investment
authority, when acting in accordance with the written procedures and this Policy and in
accord with the Prudent Person Rule, shall be relieved of personal liability in the
management of the portfolio provided that deviations from expectations for a specific
security's credit risk or market price change are reported in a timely manner and that
appropriate action is taken to control adverse market effects.
VII. INTERNAL CONTROLS
The Investment Officer shall establish a system of written internal controls which will be reviewed
annually with the independent auditor of the Academy. The controls shall be designed to prevent
loss of public funds due to fraud, employee error, and misrepresentation by third parties, or
imprudent actions by employees of the Academy.
VIII. AUTHORIZED INVESTMENTS
Acceptable investments under this policy shall be limited to the instruments listed below. The
choice of high-grade government investments and high-grade, money market instruments are
designed to assure the marketability of those investments should liquidity needs arise.
• Obligations of the United States Government, its agencies and instrumentalities, not to
exceed two (2)years to stated maturity and excluding mortgage backed securities;
• Fully insured or collateralized certificates of deposit from a bank doing business in the
State of Texas and under the terms of a written depository agreement with that bank, not
to exceed one year to stated maturity;
• No-load, SEC registered money market mutual funds. No more than 80%of the entity's
monthly average balance may be invested in money market funds and;
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Investment Policy
• Constant dollar,AAA-rated Texas Local Government Investment Pools as defined by the
Public Funds Investment Act.
If additional types of securities are approved for investment by public funds by state statute,they
will not be eligible for investment until this Policy has been amended and the amended version
adopted by the Board of Aldermen.
• Delivery versus Payment-All investment security transactions shall be conducted on a
delivery versus payment (DVP) basis to assure that the Academy has control of its assets
and/or funds at all times.
IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
Securities broker/dealers may be primary or regional broker/dealers and will meet other criteria
as determined by the Investment Officer including state registration and completion of an
Academy Broker/Dealer questionnaire (attached as Exhibit D). The following criteria must be met
by authorized firms.
• annual provision of an audited financial statement,
• proof of certification by the National Association of Securities Dealers (NASD)
• proof of current registration with the Texas State Securities Commission, and
• completion of the Academy's broker/dealer questionnaire.
Every bank and broker/dealer with whom the Academy transacts business will be provided a copy
of this Investment Policy to assure that they are familiar with the goals and objectives of the
investment program. The firm will be required to return a signed copy of the Certification Form
certifying that the Policy has been received and reviewed and only those securities approved by
the Policy will be sold to the Academy.
X. DIVERSIFICATION AND MATURITY LIMITATIONS
It is the policy of the Academy to diversify its investment portfolio. Invested funds shall be
diversified to minimize risk or loss resulting from over-concentration of assets in a specific
maturity, specific issuer, or specific class of securities. Diversification strategies shall be
established and periodically reviewed.
XI. SAFEKEEPING AND COLLATERALIZATION
The laws of the State and prudent treasury management require that all purchased securities be
bought on a delivery versus payment (DVP) basis and be held in safekeeping by either an
approved, independent third party financial institution or the Academy's designated depository.
Securities Owned by the Academy-All safekeeping arrangements shall be approved by the
Investment Officer and an agreement of the terms executed in writing.The safekeeping bank may
not be within the same holding company as the bank from which the securities are purchased.The
custodian shall be required to issue original safekeeping receipts to the Academy listing each
specific security, rate, description, maturity, cusip number, and other pertinent information.
Collateral -Collateral ization shall be required on all bank time and demand deposits for principal
and accrued interest amounts over the FDIC insurance coverage of$100,000 (by tax identification
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Investment Policy
number). In order to anticipate market changes and provide a level of additional security for all
funds, collateral with a market value equal to 102%of the total deposits are required. The
pledging bank will be made contractually liable for monitoring and maintaining the collateral
levels at all times. All collateral will be held by an independent third party bank outside the
holding company of the bank, pledged to the Academy.
Authorized collateral will include only:
• Obligations of the US Government, its agencies and instrumentalities to include
mortgage backed securities which pass the bank test,
• Municipal obligations rated at least A by two nationally recognized rating agencies.
The custodian shall be required to provide original safekeeping receipts clearly marked that the
security is pledged to the Academy.
XII. REPORTING
The Investment Officer shall submit quarterly reports to the Board of Trustees containing
sufficient information to permit an informed outside reader to evaluate the performance of the
investment program and in full compliance with the Act. At a minimum the report shall contain:
• Beginning and ending market value of the portfolio by market sector and total portfolio
• Beginning and ending book value of the portfolio by market sector and total portfolio
• Change in market value during the period
• Detail on each asset(book, market, description, par ad maturity date)
• Earnings for the period
• Overall weighted average maturity of the portfolio
The report will be prepared jointly by all involved in the investment activity and be signed by the
Investment Officer. It will contain all elements as required by the Act and be signed by the
Investment Officers as in compliance with the Act and this Policy. Market prices for assignment of
market values will be obtained from an independent source.
XIII. DEPOSITORIES
The Academy will designate one banking institution through a competitive process as its central
banking services provider at least every five years. This institution will be used for normal banking
services including disbursements, deposits, and safekeeping of Academy owned securities. Other
banking institutions from which the Academy may purchase only certificates of deposit will also be
designated as a depository.
All banking arrangements will be in written form in accordance with FIRREA which requires a
resolution of approval of the agreement by the Bank Council or Bank Loan Committee.
XIV. INVESTMENT POLICY ADOPTION BY BOARD
The Academy's Investment Policy and its incorporated strategies shall be adopted by resolution
annually by the Board.The approval and any changes made to the Policy will be noted in the
approving resolution.
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FINANCIAL SECTION
Financial Forecast Narrative
FINANCIAL FORECAST ASSUMPTIONS
BASIC ASSUMPTIONS:
• 41 student increase in FY 16-17 and 5 additional students in subsequent years
• Average Daily Attendance rate of 97%
REVENUES:
• 100% use of Westlake Academy Foundation (WAF)Annual Program revenues (adopted $1 million)
• Career and Technology(CTE) Funding has been implemented with 252 students for FY 2016-17.
Additional CTE students will increase by 120 students in FY 2017-18 due to the addition of the DP
Business Management course and by unblocking Algebra II or renaming/redesigning the second block
of Algebra II (numbers will fluctuate slightly from year to year beyond 2017-18 due to student course
selections)
• Future revenue projections are based upon the State's current funding formula and current local
donation levels. Due to the uncertainty of state funding, the Academy adopted a new policy in FY
14/15 which only allows increases in expenditures if there is an offsetting increase in revenues.
• Charter schools do not have taxing authority, making them reliant upon state and local funding
sources. As an open enrollment charter school, all State funding is determined each legislative session
and channeled to Westlake Academy through the Foundation School Program (FSP).
• Charter schools are funded based on their weighted average daily attendance (WADA). A school's
WADA is determined not only by the number of students attending, but their participation in special
programs, such as special education and career and technology.
o Most Academy General Fund revenue is derived from the Foundation School Program.
o Secondary sources include the Westlake Academy Foundation and the Blacksmith Campaign.
o Growth in local revenues has been significant and
is a result of strong parent support of the
Academy.
Vol
EXPENDITURES: q
• Personnel costs are estimated to increase approximately
4.5%for FY 16-17 and 1.5%annually in subsequent years
�NY
• Professional Services, supplies and other operating MOw
expenditures are increased by 1% in outer years but will
only increase if revenues increase to offset additional QUESTIONS EWER$
expenditures
137
Westlake Academy
General Fund
Five Year Financial Forecast
Return to T.O.C. Fysical Year 2016-17 trhough 2020-21
Audited Adopted Amended Proposed Amount Percent Projected Projected Projected Projected
FY 14/15 FY 15/16 FY 15/16 FY 16/17 Inc/(Dec) Inc/(Dec) FY 17/18 FY 18/19 FY 19/20 FY 20/21
Transportation $ 28,381 $ 27,225 $ 28,400 $ 28,400 $ 0% $ 28,684 $ 28,971 $ 29,261 $ 29,553
Parking 25,036 14,000 25,050 25,050 0% 25,301 25,554 25,809 26,067
Athletic Activities 90,925 81,150 81,150 90,724 9,574 12% 91,631 92,548 93,473 94,408
Interest Earned 2,067 1,575 3,000 3,000 - 0% 3,030 3,060 3,091 3,122
WAF Blacksmith Donation 1,046,212 1,100,000 1,025,000 1,000,000 (25,000) -2% 1,000,000 1,000,000 1,000,000 1,000,000
WAF Salary Reimbursement 57,130 49,770 60,436 66,432 5,996 10% 67,096 67,767 68,445 69,129
Town Contribution-Westlake Reserve 300,000 300,000 300,000 300,000 - 0% 315,000 315,000 315,000 315,000
Town Contribution - 15,000 15,000 15,000 - 0% 15,150 15,302 15,455 15,609
Other Local Revenue(BTS,Tech&Other) 108,611 54,000 70,500 143,256 72,756 103% 144,689 146,135 147,597 149,073
Food Services 6,000 6,000 6,000 6,000 - 0% 6,060 6,121 6,182 6,244
Total Local Revenues 1,664,363 1,648,720 1,614,536 1,677,862 63,326 4% 1,696,641 1,700,457 1,704,312 1,708,205
Percent of total revenues 21% 21% 20% 20% 14% 71% 20% 20% 20% 20%
TEA-Foundation School Funds 5,811,523 5,671,950 5,788,829 5,606,212 (182,617) -3% 5,503,025 5,537,413 5,580,801 5,606,189
TEA-Available School Funds 222,779 138,891 308,298 169,407 122% 308,298 308,298 308,298 308,298
CTE Funding(additional TEA-FSP Funds) - - - 356,475 356,475 100% 540,371 540,371 540,371 540,371
TEA-IBTraining 6,750 - - 0%
TRS On-behalf/Medicare Part B 329,666 391,427 414,401 450,326 35,925 9% 461,584 473,124 484,952 497,076
Total State Revenues 6,141,189 6,292,906 6,342,121 6,721,311 379,190 6%1 6,813,278 6,859,206 6,914,422 6,951,934
Percent of total revenues 79% 79% 80% 80% 86% 108% 80% 80% 80% 80%
TOTAL REVENUES $ 7,805,552 $ 7,941,626 $ 7,956,657 $ 8,399,173 $ 442,516 6% $ 8,509,919 $ 8,559,663 $ 8,618,733 $ 8,660,138
EXPENDITURES by FUNCTION
Function 11-Instructional $ 4,343,503 $ 4,579,900 5,361,249 $ 4,788,354 $ (572,895) -11%
Function 12-Resources&Media 67,933 74,801 76,348 84,089 7,741 10%
Function 13-Curriculum&Staff Development 165,308 134,590 147,909 127,802 (20,107) -14%
Function 21-Instructional Leadership 212,942 264,259 276,108 276,548 440 0%
Function 23-School Leadership 620,382 778,866 816,705 851,510 34,805 4%
Function 31-Guidance&Counseling 255,193 205,230 233,403 236,600 3,197 1%
Function 33-Health Services 64,285 66,617 68,166 68,024 (142) 0%
Function 36-Co/Extracurricular Activities 122,974 146,774 148,258 175,826 27,568 19%
Function 41-Administrative 344,087 306,986 363,460 276,495 (86,965) -24%
Function 51-Maintenance&Operations 865,719 915,068 933,345 940,838 7,493 1%
Function 52-Security&Monitoring Services - 5,695 - - - 0%
Function 53-Data Processing 100,757 169,679 172,888 192,401 19,513 11%
Function 61-Community Services 111,620 112,639 115,445 122,020 6,575 6%
Function 71-Debt Service 89,949 90,565 90,561 257,238 166,673 184%
TOTAL EXPENDITURES BY FUNCTION $ 7,364,652 $ 7,851,666 8,803,848 $ 8,397,745 $ 406,103)1 -5%
Object Code 61XX-Salaries $ 5,409,211 $ 5,912,800 6,166,842 $ 6,290,364 $ 123,521 2% 6,384,719 6,480,490 6,577,697 6,676,363
Object Code 62XX-Contracted Services 1,056,326 940,445 1,100,582 1,024,552 (76,030) -7% 1,034,798 1,045,145 1,055,597 1,066,153
Object Code 63XX-Supplies&Materials 392,279 483,115 966,926 374,383 (592,543) -61% 378,127 381,908 385,727 389,584
Object Code 64XX-Other Operating Costs 416,884 424,741 478,933 451,208 (27,725) -6% 455,720 460,278 464,880 469,529
Object Code 65XX-Debt Service 89,949 90,565 90,565 257,238 166,673 184% 166,673 166,673 - -
TOTAL EXPENDITURES BY OBJECT $ 7,364,649 $ 7,851,666 8,803,848 $ 8,397,745 $ (406,103) -5% $ 8,420,037 $ 8,534,494 $ 8,483,902 $ 8,601,629
Other Resources-Local $ 61,740 $ 45,000 482,425 $ - $ (482,425) -100%
Other Uses-Local (45,000) (45,000) - - - 0%
NET OTHER RESOURCES(USES) 16,740 - 482,425 - (482,425) - - - -
EXCESS REVENUES OVER(UNDER)EXP $ 457,642 $ 89,960 j 64,766) $ 1,428 1 $ 366,194 1 -100% $ 89,882 $ 25,169 $ 134,832 $ 58,509
FUND BALANCE BEGINNING 1,024,515 1,482,157 1,482,157 1,117,391 (364,766) -25% 1,118,819 1,208,701 1,233,870 1,368,702
FUND BALANCE ENDING 1,482,157 1,572,117 1,117,391 1,118,819 1,428 0% 1,208,701 1,233,870 1,368,702 1,427,211
Assigned-Technology/FFE - 125,000 - - - 0% - - - -
Assigned-Uniform/Equip replacement - 5,000 11,000 11,000 - 0% 15,000 15,000 15,000 15,000
FUND BALANCE ENDING(Unassigned) $ 1,482,157 $ 1,442,117 $ 1,106,391 $ 1,107,819 $ 1,428 0% $ 1,193,701 $ 1,218,870 $ 1,353,702 $ 1,412,211
Number of Operating Days(365) 73 67 49 48 (1) -2% 52 52 58 60
Dollars per Operating Day $ 20,177 $ 21,511 $ 22,424 $ 23,008 584 3% $ 23,069 $ 23,382 $ 23,244 $ 23,566
Total Students Enrolled 812 832 825 866 41 5% 870 875 880 885
TEA Funding per Student(Inc.CTE&SPED) $ 7,026 $ 7,085 $ 7,185 $ 7,241 $ 56 1% $ 7,301 $ 7,298 $ 7,306 $ 7,294
Operating Cost per Student(Academic Only) $ 9,070 $ 9,437 $ 10,087 $ 9,697 $ (389) -4% $ 9,678 $ 9,754 $ 9,641 $ 9,719
Teachers 60.7 65.3 63.4 63.8 0.4 1% 63.8 63.8 63.8 63.8
Student/Teacher Ratio 13.4 12.7 13.0 13.6 0.6 4% 13.6 13.7 13.8 13.9
138
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WESTLAKE ACADEMY
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_TATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
REVENUES
Local Revenues $ 1,158,045 $ 1,636,975 $ 2,190,629 $ 1,754,220 $ 1,800,281 $ 1,813,362 $ 13,081
State Program Revenues 4,696,540 5,269,641 6,181,480 6,435,693 6,445,856 6,721,311 275,455
Federal Program Revenues 81,958 80,103 162,270 90,000 98,563 102,394 3,831
5,936,543 6,986,719 8,534,379 8,279,913 8,344,700 8,637,067 292,367
EXPENDITURES(BY FUNCTION)
11 Instructional 3,458,116 4,264,664 4,716,639 4,906,188 5,698,685 4,985,626 (713,059)
12 Resources&Media 57,784 57,884 67,933 74,801 80,073 84,089 4,016
13 Staff Development 130,442 148,356 222,521 197,590 182,409 133,802 (48,607)
21 Instructional Leadership 93,964 165,116 248,087 264,259 276,108 276,548 440
23 School Leadership 341,039 597,075 712,023 801,866 832,805 851,510 18,705
31 Guidance&Counseling 244,900 282,334 255,286 205,230 233,403 236,600 3,197
33 Health Services 58,208 61,890 64,285 66,617 68,166 68,024 (142)
36 CoCurricular/Extra.Activities 125,139 152,261 142,799 171,774 148,258 175,826 27,568
41 Administrative 363,548 389,673 351,087 306,986 403,460 316,495 (86,965)
51 Maintenance&Operations 614,042 733,367 865,719 915,068 933,345 940,838 7,493
53 Data Processing 160,695 177,063 111,620 169,678 172,888 192,401 19,513
61 Community Services 86,845 113,995 79,745 112,638 115,445 122,020 6,575
71 Debt Service - 3,733 10,204 90,565 90,565 257,238 166,673
Total Expenditures 5,762,652 7,147,411 7,948,705 8,288,953 9,235,609 8,641,017 (594,592)
Excess(Deficiency)of Revenues Over
(Under)Expenditures 173,891 (160,692) 585,674 (9,040) (890,909) (3,950) 886,959
OTHER FINANCING SOURCES(USES)
79-Other Resources 40,959 239,009 16,740 45,000 482,425 (482,425)
89-Other Uses (40,959) - - (45,000) -
Total Other Financing Sources(Uses) - 239,009 16,740 482,425 (482,425)
NET CHANGES IN FUND BALANCE 173,891 78,317 602,414 (9,040) (408,484) (3,950) 404,534
FUND BALANCE,BEGINNING 819,090 992,981 1,071,298 1,673,712 1,673,712 1,265,228 (408,484)
FUND BALANCE,ENDING 992,981 1,071,298 1,673,712 1,664,672 1,265,228 1,261,278 (3,950)
Assigned-Tech/FF&E Replacemt - - - 125,000 - -
Assigned-Uniforms/Equip Rep. - - - 11,350 11,000 11,000
FUND BALANCE,UNASSIGNED $ 992,981 $ 1,071,298 $ 1,673,712 $ 1,528,322 $ 1,254,228 $ 1,250,278 $ (3,950)
139
FINANCIAL SECTION
WESTLAKE ACADEMY
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ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2017
TOTALREVENUES
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
General Fund $ 5,640,930 $ 6,560,141 $ 7,805,552 $ 7,941,626 $ 7,956,657 $ 8,399,173 $ 442,516
Special Revenue Funds 295,609 426,578 728,827 338,287 388,043 237,894 (150,149)
Total Governmental Funds $ 5,936,539 $ 6,986,719 $ 8,534,379 $ 8,279,913 $ 8,344,700 $ 8,637,067 $ 292,367
TOTAL EXPENDITURES
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
General Fund $ 5,496,181 $ 6,733,873 $ 7,364,652 $ 7,851,666 $ 8,803,848 $ 8,397,745 $ (406,103)
Special Revenue Funds 266,471 413,538 584,053 437,287 431,761 243,272 (188,489)
Total Governmental Funds $ 5,762,652 $ 7,147,411 $ 7,948,705 $ 8,288,954 $ 9,235,609 $ 8,641,017 $ (594,592)
EXPENDITURES BY OBJECT CODE
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
61XX-Payroll&Related Items $ 4,339,743 $ 5,198,873 $ 5,710,696 $ 6,047,107 $ 6,299,405 $ 6,457,758 $ 158,352
62XX-Contracted Services 865,171 958,209 1,099,389 974,140 1,126,282 1,027,552 (98,730)
63XX-Supplies&Materials 267,105 672,965 547,594 748,402 1,131,349 403,211 (728,138)
64XX-Other Operating 290,633 313,631 499,877 428,741 588,008 495,258 (92,750)
65XX-Debt Service - 3,733 91,149 90,565 90,565 257,238 166,673
Total Expenditures $5,762,652 $7,147,411 $7,948,705 $8,288,954 $9,235,609 $8,641,017 $ (594,592)
Expenditures
by Object
140
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C.
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2017
Adopted Amended Adopted
Audited Audited Audited Budget Budget Budget
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17
REVENUE SUMMARY
Local Revenues $ 1,158,045 $ 1,636,975 $ 2,190,629 $ 1,754,220 $ 1,800,281 $ 1,813,362
State Program Revenues 4,696,540 5,269,641 6,181,480 6,435,693 6,445,856 6,721,311
Federal Program Revenues 81,958 80,103 162,270 90,000 98,563 102,394
Total Revenues $ 5,936,543 $ 6,986,719 $ 8,534,379 $ 8,279,913 $ 8,344,700 $ 8,637,067
Adopted Amended Adopted
Audited Audited Audited Budget Budget Budget
EXPENDITURES(BY FUNCTION) FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17
11 Instructional $ 3,458,116 $ 4,264,664 $ 4,716,639 $ 4,906,188 $ 5,698,685 $ 4,985,626
12 Resources&Media 57,784 57,884 67,933 74,801 80,073 84,089
13 Staff Development 130,442 148,356 222,521 197,590 182,409 133,802
21 Instructional Leadership 93,964 165,116 248,087 264,259 276,108 276,548
23 School Leadership 341,039 597,075 712,023 801,866 832,805 851,510
31 Guidance&Counseling 244,900 282,334 255,286 205,230 233,403 236,600
35 Food Services - - - - - -
36 CoCurricular/Extra.Activities 125,139 152,261 142,799 171,774 148,258 175,826
41 Administrative 363,548 389,673 351,087 306,986 403,460 316,495
52- Security&Monitoring Services - - - 5,695 - -
53 Data Processing 160,695 177,063 100,757 169,678 172,888 192,401
61 Community Services 86,845 113,995 111,620 112,638 115,445 122,020
81 Facility Acquisition/Construction 27,930 - - - - -
Total Expenditures $ 5,762,652 $ 7,147,411 $ 7,948,705 $ 8,288,953 $ 9,235,609 $ 8,641,017
Revenues
by Category
■ Local
Revenues
141
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. FATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Proposed
REVENUES
Local Revenues $ 992,281 $ 1,369,833 $ 1,664,362 $ 1,648,720 $ 1,614,536 $ 1,677,862 63,326
State Program Revenues 4,648,649 5,190,308 $ 6,141,189 6,292,906 6,342,121 6,721,311 379,190
Total Revenues 5,640,930 6,560,141 7,805,552 7,941,626 7,956,657 8,399,173 442,516
EXPENDITURES(BY FUNCTION)
11 Instructional 3,278,767 4,017,953 4,343,503 4,579,901 5,361,249 4,788,354 (572,895)
12 Resources&Media 57,784 56,553 67,933 74,801 76,348 84,089 7,741
13 Staff Development 89,084 75,494 165,308 134,590 147,909 127,802 (20,107)
21 Instructional Leadership 93,965 165,115 212,942 264,259 276,108 276,548 440
23 School Leadership 332,693 552,170 620,382 778,866 816,705 851,510 34,805
31 Guidance&Counseling 241,791 282,334 255,193 205,230 233,403 236,600 3,197
33 Health Services 58,208 61,889 64,285 66,617 68,166 68,024 (142)
36 CoCurricular/Extra.Activities 96,063 121,838 122,975 146,774 148,258 175,826 27,568
41 Administrative 358,311 379,867 344,087 306,986 363,460 276,495 (86,965)
51 -Maintenance&Operations 614,041 733,367 865,719 915,068 933,345 940,838 7,493
53 Data Processing 160,695 177,063 100,757 169,678 172,888 192,401 19,513
61 Community Services 86,844 106,497 111,620 112,638 115,445 122,020 6,575
71 Debt Service - 3,733 89,950 90,565 90,565 257,238 166,673
Total Expenditures 5,496,177 6,733,873 7,364,652 7,851,666 8,803,848 8,397,745 (406,103)
Excess(Deficiency)of Revenues Over
(Under)Expenditures 144,753 (173,732) 440,899 89,960 (847,191) 1,428 848,619
OTHER FINANCING SOURCES(USES)
79-Capital Lease Proceeds - 239,009 - - 482,425 - -
79-Other Resources 40,959 - 61,740 45,000 -
89-Other Uses (40,959) - (45,000) (45,000) -
Total Other Financing Sources
(Uses) - 239,009 16,740 - 482,425 - -
NET CHANGES IN FUND BALANCE 144,753 65,277 457,639 89,960 (364,766) 1,428 848,619
FUND BALANCE,BEGINNING 814,487 959,240 1,024,517 1,482,156 1,482,156 1,117,391 (364,765)
FUND BALANCE,ENDING 959,240 1,024,517 1,482,156 1,572,116 1,117,391 1,118,819 483,854
Assigned-Tech/FF&E Replacemt - - - 125,000 - - -
Assigned-Uniforms/Equip Rep. - - - 5,000 11,000 11,000 -
FUND BALANCE,UNASSIGNED $ 959,240 $ 1,024,517 $ 1,482,156 $ 1,442,116 $ 1,106,391 $ 1,107,819 $ 483,854
142
c:WAAif-IAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. TATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2017
Revenue & Expenditure Comparison
FY 12/13 FY 13/14 FY 15/16 FY 16/17
■Total Revenues Total Expenditures
■11 -Instructional
■12 -Resources&Media
■13 -Staff Development
■21 -Instructional Leadership
■23 -School Leadership
■31 -Guidance&Counseling
■33 -Health Services
■36 -CoCurricular/Extra.Activities
041 -Administrative
■51 -Maintenance&Operations
■53 -Data Processing
■61 -Community Services
■71 -Debt Service
143
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2017
Adopted FY 2016/2017
197 198 199 Total
Transportation/ Athletic General General
Parking Fund Activities Fund Fund
FY 16/17 FY 16/17 FY 16/17 FY 16/17
REVENUES
Local Revenues $ 53,450 $ 90,724 $ 1,533,688 $ 1,677,862
State Program Revenues - - 6,721,311 6,721,311
Total Revenues 53,450 90,724 8,254,999 8,399,173
EXPENDITURES(BY FUNCTION)
11 -Instructional 10,450 - 4,777,904 4,788,354
12 Resources&Media - 84,089 84,089
13 Staff Development 127,802 127,802
21 Instructional Leadership 276,548 276,548
23 School Leadership 851,510 851,510
31 Guidance&Counseling 236,600 236,600
33 Health Services - - 68,024 68,024
36 CoCurricular/Extracurricular Activities 22,582 63,536 89,708 175,826
41 Administrative - - 276,495 276,495
51 Maintenance&Operations 940,838 940,838
53 Data Processing 192,401 192,401
61 -Community Services 122,020 122,020
71 Debt Service - - 257,238 257,238
Total Expenditures 33,032 63,536 8,301,177 8,397,745
Excess(Deficiency)of Revenues Over(Under) Expenditures 20,418 27,188 (46,178) 1,428
OTHER FINANCING SOURCES(USES)
79 -Other Resources - - -
89 -Other Uses
Total Other Financing Sources(Uses) - - -
NET CHANGES IN FUND BALANCE 20,418 27,188 (46,178) 1,428
FUND BALANCE,BEGINNING 68,090 110,989 938,312 1,117,390
FUND BALANCE,ENDING 88,508 138,177 892,134 1,118,819
Assigned-Technology/FF&E Replacement - - - -
Assigned-Uniform/Equipment Replacement 11,000 11,000
Assigned-Facility Maintenance/FFE - - - -
ENDING FUND BALANCE(UNASSIGNED) $ 88,508 $ 127,177 $ 892,134 $ 1,107,819
144
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
11 Instructional
6100 Payroll $ 3,040,837 $ 3,398,381 $ 3,915,927 $ 4,172,381 $ 4,406,953 $ 4,411,715 $ 4,762
6200 Contracted Services 80,430 97,088 107,213 51,220 64,085 59,085 (5,000)
6300 Supplies&Materials 120,569 477,541 254,692 303,650 773,731 214,637 (559,094)
6400 Other Operating 36,932 44,942 65,705 52,650 116,480 102,917 (13,563)
Total Instructional 3,278,768 4,017,952 4,343,537 4,579,901 5,361,249 4,788,354 (572,895)
12 Resource&Media
6100 Payroll 52,051 50,006 56,186 62,051 63,598 71,339 7,741
6200 Contracted Services 1,575 1,325 2,650 2,650 2,650 2,650 -
6300 Supplies&Materials 3,234 5,221 7,057 8,300 8,120 8,120
6400 Other Operating 924 - 2,040 1,800 1,980 1,980 -
Total Resource&Media 57,784 56,552 67,933 74,801 76,348 84,089 7,741
13 Staff Development
6100 Payroll - - 2,522 - - - -
6200 Contracted Services 16,563 5,122 14,320 15,000 14,998 7,998 (7,000)
6300 Supplies&Materials - 762 5,500 7,850 6,380 (1,470)
6400 Other Operating 72,521 70,371 147,704 114,090 125,061 113,424 (11,637)
Total Staff Development 89,084 75,493 165,308 134,590 147,909 127,802 (20,107)
21 Instructional Leadership
6100 Payroll 91,108 159,279 202,096 257,359 263,774 270,623 6,849
6200 Contracted Services - - 3,200 - - - -
6300 Supplies&Materials 350 140 2,092 500 4,909 500 (4,409)
6400 Other Operating 2,507 5,697 5,554 6,400 7,425 5,425 (2,000)
Total Instructional Leadership 93,965 165,116 212,942 264,259 276,108 276,548 440
23 School Leadership
6100 Payroll 322,214 531,557 599,702 748,466 767,125 823,565 56,440
6200 Contracted Services - 413 150 400 100 100 -
6300 Supplies&Materials 700 5,546 4,330 2,500 18,673 1,038 (17,635)
6400 Other Operating 9,779 14,654 16,200 27,500 30,807 26,807 (4,000)
Total School Leadership 332,693 552,170 620,382 778,866 816,705 851,510 34,805
31 Guidance&Counseling
6100 Payroll 177,605 179,572 137,129 144,355 147,954 163,773 15,819
6200 Contracted Services 56,654 93,230 110,079 47,575 69,106 58,424 (10,682)
6300 Supplies&Materials 3,701 2,903 5,223 5,900 9,307 6,367 (2,940)
6400 Other Operating 3,831 6,629 2,727 7,400 7,036 8,036 1,000
Total Guidance&Counseling 241,791 282,334 255,158 205,230 233,403 236,600 3,197
145
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
33 Health Services
6100 Payroll $ 57,395 $ 60,659 $ 62,653 $ 62,117 $ 63,666 $ 63,524 $ (142)
6200 Contracted Services 145 145 520 1,500 1,500 1,500 -
6300 Supplies&Materials 667 1,086 1,112 3,000 3,000 3,000
6400 Other Operating - - - - - - -
Total Health Services 58,208 61,890 64,285 66,617 68,166 68,024 (142)
36 CoCurricular Activities
6100 Payroll 32,690 54,755 54,381 59,533 61,017 90,690 29,673
6200 Contracted Services 22,352 21,611 19,370 29,600 32,419 32,419 -
6300 Supplies&Materials 28,319 23,592 28,743 34,315 28,549 26,444 (2,105)
6400 Other Operating 12,702 21,882 20,479 23,326 26,273 26,273 -
Total CoCurricular Activities 96,063 121,840 122,973 146,774 148,258 175,826 27,568
41 Administrative
6100 Payroll 128,828 145,799 93,706 38,336 39,292 40,267 975
6200 Contracted Services 158,769 159,232 168,012 177,200 239,382 154,382 (85,000)
6300 Supplies&Materials 9,963 16,338 19,412 11,750 14,790 11,850 (2,940)
6400 Other Operating 60,750 58,499 62,956 79,700 69,996 69,996
Total Administrative 358,311 379,868 344,086 306,986 363,460 276,495 (86,965)
51 Maintenance&Operations
6100 Payroll 83,332 94,734 99,798 121,168 106,106 97,543 (8,563)
6200 Contracted Services 443,099 518,512 619,660 600,200 665,742 677,298 11,556
6300 Supplies&Materials 35,490 60,415 55,623 87,700 73,497 75,997 2,500
6400 Other Operating 52,121 59,706 90,638 106,000 88,000 90,000 2,000
Total Maintenance&Operations 614,041 733,367 865,719 915,068 933,345 940,838 7,493
52 Security&Monitoring Services
6200 Contracted Services - - - 5,695 - - -
Total Security&Monitoring Services - - - 5,695 - - -
53 Data Processing
6100 Payroll 143,159 151,803 73,492 128,703 131,913 135,305 3,392
6200 Contracted Services 3,768 13,359 11,153 15,100 10,600 30,696 20,096
6300 Supplies&Materials 12,455 11,074 14,926 20,000 24,500 20,000 (4,500)
6400 Other Operating 1,313 827 1,186 5,875 5,875 6,400 525
Total Data Processing 160,695 177,063 100,757 169,678 172,888 192,401 19,513
146
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
61 Community Services
6100 Payroll $ 86,844 $ 101,834 $ 111,620 $ 112,638 $ 115,445 $ 122,020 $ 6,575
6400 Other Operating - 4,661 - - - - -
Total Community Service 86,844 106,495 111,620 112,638 115,445 122,020 6,575
71 Debt Service
6500 Debt Service - 3,733 89,949 90,565 90,565 257,238 166,673
Total Debt Service - 3,733 89,949 90,565 90,565 257,238 166,673
81 Facility Acquisition/Construction
6200 Contracted Services 27,930 - - - - - -
Total Facility Acquisition/Construction 27,930 - - - - -
Total Expenditure $ 5,496,177 $ 6,733,873 $ 7,364,652 $ 7,851,667 $ 8,803,848 $ 8,397,745 $ (406,103)
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
EXPENDITURES BY OBJECT CODE
61XX-Payroll&Related Items $ 4,216,063 $ 4,928,379 $ 5,409,215 $ 5,907,107 $ 6,166,842 $ 6,290,364 $ 123,521
62XX-Contracted Services 811,286 910,037 1,056,327 946,140 1,100,582 1,024,552 (76,030)
63XX-Supplies&Materials 215,448 603,856 393,972 483,115 966,926 374,333 (592,593)
64XX-Other Operating 253,380 287,868 415,189 424,741 478,933 451,258 (27,675)
65XX-Debt Service - 3,733 89,949 90,565 90,565 257,238 166,673
Total Expenditures $ 5,496,177 $ 6,733,873 $ 7,364,652 $ 7,851,667 $ 8,803,848 $ 8,397,745 $ (406,103)
EXPENDITURES BY
OBJECT CODE
Items
65XX-Debt Service
147
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. REVENUE AND EXPENDITURE COMPARISON
GENERAL FUND
Fiscal Year 03/04 through 16/17
Fiscal Year Revenues inc% Expenditures inc% Net Change
FY 03/04 Audited $ 1,094,608 $ 1,068,857 $ 25,751
FY 04/05 Audited 1,831,898 67% 1,612,198 51% 219,700
FY 05/06 Audited 2,407,526 31% 2,211,897 37% 195,629
FY 06/07 Audited 2,879,531 20% 2,615,511 18% 264,020
FY 07/08 Audited 3,168,968 10% 3,226,254 23% (57,286)
FY 08/09 Audited 3,661,645 16% 3,709,086 15% (47,441)
FY 09/10 Audited 4,280,723 17% 3,917,886 6% 362,837
FY 10/11 Audited 4,608,573 8% 4,518,107 15% 90,466
FY 11/12 Audited 5,244,170 14% 5,287,757 17% (43,587)
FY 12/13 Audited 5,640,930 -14% 5,496,177 -18% 144,753
FY 13/14 Audited 6,560,141 25% 6,733,873 27% (173,732)
FY 14/15 Audited 7,805,552 19% 7,364,652 9% 440,899
FY 15/16 Amended * 7,956,657 21% 8,803,848 31% (847,191)
FY 16/17 Proposed 8,399,173 6% 8,397,745 -5% 1,428
* Increased Expenditures due to the purchase of technology with designated fund balance
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$6 InERE - - - -
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00
FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
Estimated Proposed
148
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. WENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND- 199
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
REVENUES
Local Revenues $ 899,972 $ 1,272,381 $ 1,520,021 $ 1,526,345 $ 1,479,936 $ 1,533,688 $ 53,752
State Program Revenues 4,648,649 5,190,308 6,141,189 6,294,943 6,342,121 6,721,311 379,190
Total Revenues 5,548,621 6,462,689 7,661,209 7,821,288 7,822,057 8,254,999 432,942
EXPENDITURES(BY FUNCTION)
11 Instructional 3,262,506 4,003,013 4,315,487 4,561,011 5,337,163 4,777,904 (559,259)
12 Resources&Media 57,784 56,553 67,933 74,801 76,348 84,089 7,741
13 Staff Development 89,084 75,494 165,308 134,590 147,909 127,802 (20,107)
21 Instructional Leadership 93,965 165,115 212,942 264,259 276,108 276,548 440
23 School Leadership 332,693 552,170 620,382 778,866 816,705 851,510 34,805
31 Guidance&Counseling 241,791 282,334 255,193 205,230 233,403 236,600 3,197
33 Health Services 58,208 61,889 64,285 66,617 68,166 68,024 (142)
36 CoCurricular/Extracurricular Activities 3,157 7,362 8,076 12,251 148,258 89,708 (58,550)
41 Administrative 358,311 379,867 344,087 306,986 274,198 276,495 2,297
51 Maintenance&Operations 614,041 733,367 865,719 915,068 933,345 940,838 7,493
53 Data Processing 160,695 177,063 100,757 169,678 172,888 192,401 19,513
61 Community Services 86,844 106,497 111,620 112,638 115,445 122,020 6,575
71 Debt Service - 3,733 89,949 90,565 90,565 257,238 166,673
Total Expenditures 5,387,009 6,604,457 7,221,737 7,698,254 8,690,500 8,301,177 (389,323)
Excess(Deficiency)of Revenues Over
(Under)Expenditures 161,612 (141,768) 439,473 123,034 (868,443) (46,178) 822,265
OTHER FINANCING SOURCES(USES)
79-Capital Lease Proceeds - 239,009 16,740 - 482,425 (482,425)
89-Transfer Out(Use) (75,000) (45,000) (45,000) -
Total Other Financing Sources(Uses) - 164,009 (28,260) (45,000) 482,425 (482,425)
OTHER FINANCING SOURCES(USES)
79-Extraordinary Item 40,959 - -
89-Extraordinary Item (40,959)
Total Other Financing Sources(Uses) - - - - -
NET CHANGES IN FUND BALANCE 161,612 22,241 411,213 78,034 (386,018) (46,178) 339,840
FUND BALANCE,BEGINNING 729,264 890,876 913,117 1,324,330 1,324,330 938,312 (386,018)
FUND BALANCE,ENDING 890,876 913,117 1,324,330 1,402,364 938,312 892,134 (46,178)
Assigned-Technology/FF&E Replacement - - - 125,000 - -
ENDING FUND BALANCE(UNASSIGNED) $ 890,876 $ 913,117 $ 1,324,330 $ 1,277,364 $ 938,312 $ 892,134 $ (46,178)
149
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. 4ENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ATHLETIC ACTIVITIES FUND - 198
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
REVENUES
Local Revenues $ 56,298 $ 60,563 $ 90,925 $ 81,150 $ 81,150 $ 90,724 $ 9,574
State Revenue - - - - - - -
Total Revenues 56,298 60,563 90,925 81,150 81,150 90,724 9,574
EXPENDITURES(BY FUNCTION)
11 -Instructional 1,464 - - - - - -
36 -CoCurricular/Extracurricular Activities 85,309 100,383 100,023 110,902 65,641 63,536 (2,105)
Total Expenditures 86,773 100,383 100,023 110,902 65,641 63,536 (2,105)
Excess(Deficiency)of Revenues Over
(Under)Expenditures (30,475) (39,820) (9,098) (29,752) 15,509 27,188 11,679
OTHER FINANCING SOURCES(USES)
79-Other Resources 75,000 45,000 45,000 - - -
89-Other Uses - - -
Total Other Financing Sources(Uses) 75,000 45,000 45,000 - - -
NET CHANGES IN FUND BALANCE (30,475) 35,180 35,902 15,248 15,509 27,188 11,679
FUND BALANCE,BEGINNING 54,873 24,398 59,578 95,480 95,480 110,989 15,509
FUND BALANCE,ENDING 24,398 59,578 95,480 110,728 110,989 138,177 27,188
Assigned-Uniform/Equipment Replacement - - - 5,000 11,000 11,000 -
ENDING FUND BALANCE(UNASSIGNED) $ 24,398 $ 59,578 $ 95,480 $ 105,728 $ 99,989 $ 127,177 $ 27,188
150
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. /TENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
TRANSPORTATION/PARKING FUND- 197
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
REVENUES
Local Revenues $ 36,010 $ 36,890 $ 53,417 $ 41,225 $ 53,450 $ 53,450 $
State Revenues - - - - -
Total Revenues 36,010 36,890 53,417 41,225 53,450 53,450
EXPENDITURES(BY FUNCTION)
11 Instructional 14,798 14,940 28,016 18,890 24,086 10,450 (13,636)
36 CoCurricular/Extracurricular Activities 7,597 14,093 14,876 23,621 23,621 22,582 (1,039)
Total Expenditures 22,395 29,033 42,892 42,511 47,707 33,032 (14,675)
Excess(Deficiency)of Revenues Over
13,615 7,857 10,525 (1,286) 5,743 20,418 14,675
(Under)Expenditures
OTHER FINANCING SOURCES(USES)
79-Other Resources - - - - - -
89-Other Uses
Total Other Financing Sources(Uses) - - - - - -
NET CHANGES IN FUND BALANCE 13,615 7,857 10,525 (1,286) 5,743 20,418 14,675
FUND BALANCE,BEGINNING 30,350 43,965 51,822 62,347 62,347 68,090 5,743
FUND BALANCE,ENDING 43,965 51,822 62,347 61,061 68,090 88,508 20,418
Assigned-Parking - - - - - - -
Assigned-Transportation - - - - - -
ENDING FUND BALANCE(UNASSIGNED) $ 43,965 $ 51,822 $ 62,347 $ 61,061 $ 68,090 $ 88,508 $ 20,418
151
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. SCHEDULE OF EXPENDITURES
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2017
Variance
Amended Adopted Amended to
FY 15/16 FY 16/17 Adopted
Federal Grants through TEA
Fund 224-IDEA B $ 98,563 $ 102,394 $ 3,831
Sub-total Federal Grants 98,563 102,394 3,831
State Grants through TEA
Fund 410-Material Allotment Disbursment 103,735 - (103,735)
Sub-total State Grants 103,735 - (103,735)
Local Activities
Fund 461-Local Campus Activity 50,625 60,000 9,375
Fund 484-Local Grants(HOC&WAF) 59,100 - (59,100)
Fund 498-International Mindedness Syposium 6,100 6,000 (100)
Sub-total Local Activities 115,825 66,000 (49,825)
Hudson Foundation Grants
Fund 481- Hudson Foundation Curriculum Development - -
Fund 485-MYP Principal&Discretionary Funds
Fund 493-Salary&Curriculum Support - -
Fund 496-Hudson Foundation 101,000 22,378 (78,622)
Sub-total Hudson Foundation Grants 101,000 22,378 (78,622)
Westlake Academy Foundation(WAF)Grants
Fund 494-Science Department 9,138 - (9,138)
Fund 495-Fund an Item - 50,000 50,000
Fund 497-Financial Assistance 3,500 2,500 (1,000)
Sub-total Foundation Grants 12,638 52,500 39,862
Grant Total-All Special Revenue Funds Expenditures $ 431,761 $ 243,272 $ (188,489)
152
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. TATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2017
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
REVENUES
Local Program Revenues $ 165,760 $ 267,142 $ 526,266 $ 105,500 $ 185,745 $ 135,500 $ (50,245)
State Program Revenues 47,891 79,333 40,291 142,787 103,735 - (103,735)
Federal Program Revenues 81,958 80,103 162,270 90,000 98,563 102,394 3,831
Total Revenues 295,609 426,578 728,827 338,287 388,043 237,894 (150,149)
EXPENDITURES(BY FUNCTION)
11 Instructional 179,349 246,713 373,136 326,287 337,436 197,272 (140,164)
13 Staff Development 41,358 72,863 57,213 63,000 34,500 6,000 (28,500)
23 School Leadership 8,345 44,905 91,641 23,000 16,100 - (16,100)
36 -CoCurricular/Extracurricular Activities 29,073 30,421 19,825 25,000 40,000 40,000
41 -Administrative 5,237 9,805 7,000 - - -
Total Expenditures 266,471 413,538 584,053 437,287 431,761 243,272 (188,489)
Excess(Deficiency)of Revenues Over
(Under)Expenditures 29,138 13,040 144,774 (99,000) (43,718) (5,378) 38,340
NET CHANGES IN FUND BALANCE 29,138 13,040 144,774 (99,000) (43,718) (5,378) 38,340
FUND BALANCE,BEGINNING 4,603 33,741 46,781 191,555 191,555 147,837 (43,718)
FUND BALANCE,ENDING 33,741 46,781 191,555 92,555 147,837 142,459 (5,378)
FUND BALANCE,ENDNG(Unassigned) $ 33,741 $ 46,781 $ 191,555 $ 92,555 $ 147,837 $ 142,459 $ (5,378)
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 15/16 FY 16/17 Adopted
EXPENDITURES BY OBJECT CODE
61XX-Payroll&Related Items $ 122,713 $ 270,494 $ 301,481 $ 140,000 $ 132,563 $ 167,394 $ 34,831
62XX-Contracted Services 53,886 48,172 43,062 28,000 25,700 3,000 (22,700)
63XX-Supplies&Materials 52,619 69,109 154,820 265,287 164,423 28,878 (135,545)
64XX-Other Operating 37,253 25,763 84,689 4,000 109,075 44,000 (65,075)
Total Expenditures $ 266,471 $ 413,538 $ 584,053 $ 437,287 $ 431,761 $ 243,272 $ (188,489)
153
FINANCIAL SECTION
WESTLAKE ACADEMY
Return to T.O.C. i STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2017
WAF WAF International Total
IDEA-B Materials Campus Local Fund Hudson Financial Mindedness Special
Formula Allotment Activity Grants an Item Foundation Assistance Symposium Revenue
224 410 461 484 487 496 497 498 Funds
REVENUES
Local Program Revenues $ $ 15,000 $ 60,000 $ $ 50,000 $ $ 2,500 $ 8,000 $ 135,500
State Program Revenues - - - - - -
Federal Program Revenues 102,394 - - - - 102,394
Total Revenues 102,394 15,000 60,000 50,000 2,500 8,000 237,894
EXPENDITURES(BY FUNCTION)
11 Instructional 102,394 - 20,000 50,000 22,378 2,500 - 197,272
13 Staff Development - - - - - 6,000 6,000
21- Instructional Leadership - -
23 -School Leadership - -
36 -Co-Curricular Activities - 40,000 - - - - 40,000
Total Expenditures 102,394 - 60,000 50,000 22,378 2,500 6,000 243,272
Excess(Deficiency)of Revenues
Over(Under)Expenditures - 15,000 - - (22,378) - 2,000 (5,378)
NET CHANGES IN FUND BALANCE 15,000 - (22,378) 2,000 (5,378)
FUND BALANCE,BEGINNING - 60,274 62,035 22,378 3,150 147,837
FUND BALANCE,ENDING $ $ 15,000 $ 60,274 $ 62,035 $ $ - $ $ 5,150 $ 142,459
154
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Fund Balance Components
FUND BALANCE COMPONENTS
In February 2009,the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 54, Fund
Balance Reporting and Governmental Fund Type Definitions.This Statement established five components of
fund balance and because circumstances differ among governments, not everyone will report all components.
GASB 54 shifts the focus of fund balance reporting from the availability of fund resources for budgeting to "the
extent to which the government is bound to honor constraints on the specific purposes for which amounts in
the fund can be spent."
• Fund Balance Reporting-The Academy shall report governmental fund balances per GASB 54
definitions in the balance sheet as follows: Non-spendable, Restricted, Committed,Assigned,
Unassigned
• General Fund Unassigned Fund Balance-The Academy shall strive to maintain the General Fund
unassigned fund balance at 45 days of operation.
• Use of Fund Balance- Fund Balance will be targeted to only be used with Board approval and can
only be used for the following: emergencies, non-recurring expenditures, such as
technology/FF&E (furniture, fixtures and equipment), or major capital purchases that cannot be
accommodated through current year savings. Should such use reduce the balance below the
appropriate level set as the objective for that fund, recommendations will be made on how to
restore it.
• Approval of Commitments-The Board of Trustees shall approve all commitments by formal
action.
o The action to commit funds must occur prior to fiscal year-end,to report such
commitments in the balance sheet of the respective period, even though the amount may
be determined after fiscal year-end.
o A commitment can only be modified or removed by the same formal action.
o The Board of Trustees delegates the responsibility to assign funds to the Superintendent or
his/her designee.
o The Board of Trustees shall have the authority to assign any number of funds.
o Assignments may occur after fiscal year-end.
o The Board of Trustees will utilize funds in the following spending order: Restricted,
Committed, Assigned, and Unassigned.
The following items are Assigned in the Westlake Academy Budget;Technology, Furniture, Fixtures&
Equipment Replacement, and Uniforms& Equipment Replacement
NONSPENDABLE FUND RESTRICTED FUND ASSIGNED FUND UNASSIGNED FUND COMMITTED FUND
BALANCE BALANCE BALANCE BALANCE BALANCE
•Portion of net -This term will is used This term is used to -The residual net -The portion of fund
resources that canJbe
to describe net fund describe the portion of resources in excess of balance constrained
be spent because o resources subject to fund balance that what is properly by limitations imposed
their form and externally enforceable reflects a categorized in one of by government at its
because they must legal restrictions. government's the other four highest level and
maintained intact. intended use of categories, remains binding unless
' resources. removed in the same
manner.
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FINANCIAL SECTION
Debt Service and Bond Ratings
DEBT SERVICE
The Town of Westlake owns the land on which the Academy is located and all facilities associated with the
school. The Town has issued approximately$30M in debt to construct campus facilities and is responsible for
debt service payments associated with Westlake Academy's capital infrastructure.
The Town's Debt Service Fund is used to manage debt service payments,and Academy debt is accounted for
in the annual municipal budget. Average annual debt service payments for Academy facilities and
infrastructure total approximately$1.856M, and are funded primarily by municipal sales tax receipts.
Academy related debt is over 90%of the Town's debt burden. However, the school is also considered the
Town's primary economic development tool.
FY 16/17 debt service payments related to the construction of Westlake Academy facilities include:
Amount Series Number Debt Service Typ
$ 701,608 on Series 2007 General Obligation Refunding Bonds
$ 482,275 on Series 2011 General Obligation Refunding Bonds
$ 448,732 on Series 2013 Certificates of Obligation
$ 169,950 on Series 2013 General Obligation Refunding Bonds
$ 70,220 on Series 2014 General Obligation Refunding Bonds
$ 1,872,78
For more information, see the Town of Westlake Municipal Budget, available online at www.westlake-tx.org.
THE TOWN OF WESTLAKE BOND RATING
Standard & Poor's Ratings Services recently STANDARD & P D O R'S
raised The Town's credit rating one notch to
'AA+' from 'AA' with a stable outlook. RATINGS SERVICES
Below is an excerpt from Standards and Poor's:
• The ratings reflect our opinion of the following factors for Westlake,specifically its:
• Inclusion in the deep and diverse Dallas-Fort Worth metropolitan statistical area(MSA)economy;
• Very strong budgetary flexibility with audited reserves more than 50%of general fund expenditures;
• Very strong liquidity,providing very strong cash to cover debt service and expenditures,and
• Strong management conditions,supported by good financial policy implementation.
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Capital Projects
CAPITAL PROJECTS
Academy related capital improvement projects are included in the Town Capital Improvement Plan and
guided by the adopted Facility Master Plan, which can be viewed at www.westlake-tx.org, or at
www.westlakeacademy.org.
Westlake Academy was originally designed and built to serve approximately 675 students; expansions in 2009
and 2014 have raised capacity to over 800 students. With the addition of almost 150 students since FY 13/14,
facilities at the school are projected to be at capacity this year.
Over the last several fiscal years the Academy has also increased course offerings in several areas, including
foreign languages,technology, and science. Expansion of services has been driven by increased enrollment,
academic needs of the students, and the IB curriculum, all of which place unique demands on staff and
resources.
Growth is directed by the Board of Trustees Facility Master Plan,which was adopted and developed to provide
a clear understanding of future growth needs at the Academy. The Facility Master Plan can be viewed at
www.westlake-tx.org or at www.westlakeacademy.org.
The following capital projects have been presented to the Board of Trustees but are currently unfunded
(under discussion only).
Project Name FY 17/18 FY 18/19 FY 19/20 FY 20/21 TOTAL
15 Classroom Secondary Addition $ - $ - $4,676,839 $ - $ 4,676,839
4 Classroom Kindergarten Addition - - 21996,035 - 2,996,035
Art&Science Classrooms - - - 11934,422 1,934,422
Performing Arts Center - - - 5,391,638 5,391,638
Sports Field Lighting 285,000 - - - 285,000
�liti $285,000 $ - $7,672,874 $ 7,326,060 $ 15,283,934
Any future additions to campus facilities will increase operational costs in conjunction with increases in
casualty insurance, faculty and maintenance personnel. These projects include estimates of their related
impacts to the operating budget in the Municipal Capital Improvement Plan, available to the public at
www.westlake-tx.org.
IMPACT ON OPERATIW BUDGET FY 19/20
WA—Phase II Secondary Addition $ 53,760
WA—Phase II Arts&Science Classroom 24,226
WA- Phase III Kindergarten Addition 28,840
WA- Phase III Performing Arts Center 11,536
F$ 118,362
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FINANCIAL SECTION
Significant Accounting Policies
SIGNIFICANT ACCOUNTING POLICIES
The Board of Trustees has established and regularly updates a comprehensive set of financial policies for the
Academy. The Superintendent and Board of Trustees are devoted to safeguarding and improving the financial
condition of Westlake Academy. Board policy stipulates that all future increases in expenditures must be
offset by new or additional revenues. A full listing of Fund Balance policies can be found at the end of this
section.
Key features of the Fiscal & Budgetary Policies include:
• Operating Budget
• Revenues Management
• Expenditure Control
• Fund Balance
• Intergovernmental Relationships
• Grants
• Fiscal Monitoring
• Financial Consultants
Accounting, Auditing, and Financial Reporting
• Internal Controls
• Asset Management
The table below lists the revenues and expenditures for each year since the Academy began operating. The
Fund Balance column lists the accumulated ending fund balance (the chart does not show transfers in/out
which influence the fund balance each year);the percentage that follows this column represents the ratio of
fund balance to annual expenditures i.e. in FY 04/05, 14%correlates to the $232,091 fund balance that was
equal to approximately 14%of annual expenditures of$1,612,198 for the same fiscal year. Daily cost is
calculated by dividing the annual expenditure amount by 365 days. The minimum dollar and minimum
percentage amounts are calculated based on the Board's financial policy of maintaining a minimum of 45 days
of operating costs in fund balance, i.e. daily cost multiplied by 45.
Unassigned
Fiscal Fund Daily Min. Min
Year Status Revenues Expenditures Balance % Cost $$ %
FY 03/04 Audited $1,094,608 $1,068,857 $12,391 1% $ 2,928 $131,777 12%
FY 04/05 Audited $1,831,898 $1,612,198 $232,091 14% $ 4,417 $198,764 12%
FY 05/06 Audited $2,407,526 $2,211,897 $427,720 19% $ 6,060 $272,700 12%
FY 06/07 Audited $2,879,531 $2,615,511 $691,740 26% $ 7,166 $322,460 12%
FY 07/08 Audited $3,168,968 $3,226,254 $634,454 20% $ 8,839 $397,757 12%
FY 08/09 Audited $3,661,645 $3,709,086 $502,322 14% $ 10,162 $457,285 12%
FY 09/10 Audited $4,280,723 $3,917,886 $753,772 19% $ 10,734 $483,027 12%
FY 10/11 Audited $4,608,573 $4,518,107 $798,851 18% $ 12,378 $557,027 12%
FY 11/12 Audited $5,244,170 $5,287,757 $814,487 15% $ 14,487 $651,915 12%
FY 12/13 Audited $5,640,930 $5,496,177 $959,240 17% $ 15,058 $677,611 12%
FY 13/14 Audited $6,560,141 $6,733,873 $1,024,517 15% $ 18,449 $830,204 12%
FY 14/15 Audited $7,822,292 $7,364,652 $1,482,157 20% $20,177 $907,971 12%
FY 15/16 Estimated $8,430,982 $8,803,848 $1,106,391 12% *$24,120 $1,085,406 12%
FY 16/17 Adopted $8,399,173 $8,397,745 $ 1,107,819 13% $23,008 $1,035,338 12%
Greater daily cost due to purchase of technology by using designated fund balance.
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FINANCIAL SECTION
Significant Accounting Policies
FUND BALANCE POLICIES
The Superintendent and Board of Trustees are devoted to safeguarding and improving the financial condition
of Westlake Academy. The Superintendent and Board of Trustees are devoted to safeguarding and improving
the financial condition of Westlake Academy.
The Academy shall strive to maintain an unassigned General Fund Balance of 45 days of operation, and Fund
Balance monies will only be used with Board approval for specific needs.
Fund Balance History
(shown in millions) $0,959
$0.634 $1.025 $1.106 $1.108
$0.754 $0.799 $0.814 U.502
FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
AMENDED PROJECTED
Fund Balance Forecast
(shown in millions)
$1.106 $1.108 $1.194 $1.219 $1.354 $1.412
FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
AMENDED PROPOSED PROJECTED PROJECTED PROJECTED PROJECTED
There are four primary reasons to maintain an adequate fund balance:
1. Cash Flow—It is essential for the Board of Trustees to have enough cash on hand for payroll and other
obligations to be made timely. In addition, most state and federal grants require the Academy to make
payment first before the grant will make reimbursement.
2. Unforeseen Events— Reserves often act as a contingency to meet unbudgeted and unexpected needs,
thus allowing time to make permanent changes to the budget and preventing fiscal problems from
needlessly worsening.
3. Financial Security—A fund reserve demonstrates a sign of financial strength and security to banking
and financial institutions allowing the Town of Westlake to borrow funds and sell bonds when
additional facilities need to be built or renovated at more favorable rates,thus saving the taxpayers
money.
4. Interest Earning—Having a fund balance allows the Academy to earn additional revenues.
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Future Policies to be Discussed
FUTURE POLICIES TO BE DISCUSSED
Westlake Academy has several relevant financial policies to preserve and enhance the fiscal health of the
Academy. We also identify acceptable and unacceptable courses of action, and provide a standard to
evaluate the school's fiscal performance.
Very soon, GFOA will be recommending that all school districts include the following policies that guide the
development of their budget and that are central to a strategic long term approach to financial management.
1. Operating Budget Policy
This section of the Fiscal and Budgetary Policies should include the following policies that guide the
development of the budget and are central to a strategic approach to our financial management.
These components will need to be reviewed, updated if necessary, and/or added and approved by
the Board of Trustees in subsequent years.
1. Basis of Budgeting
2. Budget Adoption
3. Budget Classification and Format
4. Organization of the Budget
5. Budget Message Requirement
6. Funds Budgeted
7. Length of the Budget Year
8. Presentation of Proposed Budget
9. Revenue Forecasting Requirements
10. Expenditure Forecasting Requirements
11. Performance Measurements
12. Line-Item Transfer Authority
13. Retention of Budget Records
2. Budget Crisis Procedures
This policy is intended to provide Westlake Academy with options when responding to unexpected
fiscal issues that can and do arise. Should budget problems materialize,these procedures will
support comprehensive risk analysis and contingency plans.
3. Long Term Forecasting
The annual operating budget focuses on a single 12-month period. However, spending and revenue
decisions made today have effects that extend beyond a 12-month period. The purpose of this
policy is to
o Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
o Achieve the Academy's mission and vision
o Systematically link the annual budget to a multi-year master financial plan.
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Return to T.O.C. INFORMATIONAL SECTION
Future Policies to be Discussed
4. Reserve Policy in Other Funds
While the General Fund Reserve is the most important for the Westlake Academy, reserves in other
funds are just as important. For that reason,the funds listed in this policy shall have reserves that
are restricted or committed for specific purposes.
5. General Fund Budget Reserves
The General Fund is the primary fund used by the Westlake Academy to account for revenues and
expenditures. Accordingly,the General Fund Reserve Policy is intended to provide the Academy
with options when responding to unexpected issues and to afford a buffer against shocks and other
forms of risk.
One of two things must happen in the future if we cannot spend equal to or less than the revenues
received:
(1) increase future revenues
(2) make future expenditure reductions.
6. Capital Asset Management (already incorporated into the Fiscal and Budgetary Policies)
Westlake Academy operates an extensive amount of buildings, equipment, furniture and vehicles.
The purpose of this policy is to:
o provide a management framework to ensure that all capital assets are repaired,
maintained and replaced and,
o identify the responsible parties who shall protect, oversee and report needed repairs.
PASSWORDS :,I..:.. WRITFEN _.
STAIR1Agps PRDBLEM AGREED DEVICES RRTt�� FOLI6S
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wEANNEs�s ITPROCESS
CSEC1 ACCORDaErcE AUD DISASTER SITE SCANS EM To K MEPECMTS REIEm DEED
FxECOTIRE APPROP" P G L C y RRCOMENFFFI CI.1011 NIaTION RfkERAASLL
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AUDITORS PRACTICES
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HFEP
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"' MEASeRARLE INCIDENTS 9F'fITYE9
COMPLIANCIONTROIS
COMPtETF BUSINESS CIES CONSISTENT RNALISIS
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AN£'RIERSEFFunn FORM OPERATING
E1.AM.NE NAIYIAAF OAIEFk6 STAFF WIN svS:,• � CLFREhi OVER4iE1Y
DAILY METRICS
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FINANICAL SECTION
Revenue Classifications
REVENUE CLASSIFICATIONS
LOCAL FUNDING REVENUES
Local funding consists of the following major sources,the Town of Westlake, Westlake Academy Foundation
(WAF) and the Hudson Foundation.
o The Town of Westlake provides administrative, human resources, facilities, and financial services for
the Academy and is responsible for all debt service payments relating to Academy facilities and
infrastructure.
o The Westlake Academy Foundation is an independent, non-profit organization that raises funds
through donations and various fundraising efforts. The WAF conducts several annual fundraising
activities, including the Blacksmith Campaign, an annual fund drive that was started to bridg the
funding gap between what charter schools receive in state allocations in comparison to local ISDs. It
mainly directs fund raising efforts towards the parents of Academy students and tries to leverage
these donations with the employers who have matching programs for individuals that contribute
time or money to non-profits.The Blacksmith Campaign is held each year in the month of October
and each family is asked to contribute $2,500 per student to help cover the gap between the state
public education funding and what the Academy spends on each student.
o The Hudson Foundation is an independent, non-profit organization that supports organizations who
are innovative and who develop programs that create new ways on knowing. Westlake Academy
has been the proud recipient of a Hudson Grant since 2010. These funds are used for teacher
training, innovative learning space and student travel and accounted for in Special Revenue Funds.
STATE FUNDING
State funding (State's Foundation School Program - FSP) is the Academy's largest revenue source. Funding
for public education has increased slightly over the last two legislative sessions, but overall funding still falls
short of the FY 2009/10 school year. The Texas economy has been strong,
but ongoing litigation regarding public education funding has created a
hesitancy to adjust funding projections until the courts have ruled upon
the constitutionality of the current funding methodology. Consequently,
x the Academy continues to utilize prior year funding levels when
developing financial models and forecasts.
( FEDERAL FUNDING
r.�$IM Federal funding is received through grants that support special
education.
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FINANCIAL SECTION
Expenditure Classification by Function
EXPENDITURES CLASSICATIONS
BY FUNCTION CODES
FUNCTION CODES - GENERAL DESCRIPTIONS
A function code represents a general operational area at the Academy and groups together related activities.
The assignment and use of function numbers is based on the financial accountability standards established by
the Texas Education Agency in accordance with the Texas Administrative Code. The function code is a 2-digit
number that follows the 3-digit fund code in the accounting number scheme.
FUNCTION
CODE FUNCTION CODE DECRIPTION
11 Instruction
12 Instructional Resources&Media Sources
13 Curriculum Development&Instruction/Staff Development
21 Instructional Leadership
23 School Leadership(Principal)
31 Guidance,Counseling&Evaluation Services
32 Social Work Services
33 Health Services
34 Student(Pupil)Transportation
35 Food Services
36 Co-curricular/Extracurricular Activities
41 General Administration(Superintendent/Board)
51 Plant Maintenance and Operations
52 Security and Monitoring Services
53 Data Processing Services
61 Community Services
71 Debt Service
81 Facilities Acquisition and Construction
10 Instruction and Instructional Related Services
• Function 11-Instruction-This function is used for activities that deal directly with the interaction between
teachers and students.This function includes expenditures for direct classroom instruction and other
activities that deliver,enhance,or direct the delivery of learning situations to students. Expenditures for the
delivery of instruction in regular program basic skills, bilingual and ESL programs, compensatory, remedial or
tutorial programs,gifted and talented education programs,and vocational education programs are classified
in function 11. For example,function 11 includes classroom teachers,teacher assistants,and graders, but
does not include curriculum development(function 13)or principals(function 23).
• Function 12-Instructional Resources and Media Services-This function is used for expenditures that are
directly and exclusively used for resource centers,establishing and maintaining libraries,and other major
facilities dealing with educational resources and media. For example,function 12 includes librarians, but
does not include textbooks(function 11)or reference books in the classroom (also function 11).
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Expenditure Classification by Function
• Function 13-Curriculum Development and Instructional Staff Development-This function is used for
expenditures that are directly and exclusively used to aid instructional staff in planning, developing, and
evaluating the process of providing learning experiences for students.This function also includes
expenditures related to research and development activities that investigate, experiment and/or
follow-through with the development of new or modified instructional methods,techniques,
procedures, services, etc. For example, this function includes staff that research and develop,
innovative new or modified instruction and staff who prepare in-service training for instructional staff,
but does not include salaries of instructional staff when attending in-service training(function 11 or 12).
20 Instructional and School Leadership
• Function 21- Instructional Leadership-This function encompasses those district-wide activities which
have as their purpose managing,directing,and supervising the general and specific instructional programs
and activities. For example,function 21 includes instructional supervisors but does not include principals
(function 23).
• Function 23-School Leadership-This function includes expenses for directing, managing,and supervising
a school. It includes salaries and supplies for the principal,assistant principal,and other administrative and
clerical staff, including attendance clerks.
30 Support Services—Student
• Function 31-Guidance,Counseling,and Evaluation Service-This function includes expenses for testing
and assessing student abilities,aptitudes,and interests with respect to career and educational goals and
opportunities. It includes psychological services,testing,and counseling.
• Function 32-Social Work Services-This function includes expenditures which directly and exclusively
promote and improve school attendance. Examples include social workers, non-instructional home visitors,
home visitor aides,and truant officers.
• Function 33- Health Services-This function embraces the area of responsibility providing health services
which are not a part of direct instruction. It includes medical,dental,and nursing services.
• Function 34-Student Transportation-This function includes the cost of providing management and
operational services for transporting students to and from school. Function 34 includes transportation
supervisors and bus drivers, but does not include field trips (function 11) or student organization trips
(function 36).
• Function 35- Food Services-This function includes the management of the food service program at the
schools and the serving of meals, lunches, or snacks in connection with school activities. Function 35
includes cooks and food purchases, but does not include concession stands(function 36).
• Function 36-Co-curricular/Extracurricular Activities-This function incorporates those activities which
are student and curricular related, but which are not necessary to the regular instructional services.
Examples of co-curricular activities are scholastic competition, speech, debate, and band. Examples of
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Expenditure Classification by Function
extracurricular activities are football, baseball, etc. and the related activities (drill team, cheerleading)
that exist because of athletics. Function 36 includes athletic salary supplements paid exclusively for
coaching, directing, or sponsoring extracurricular athletics, but does not include salaries for teaching
physical education (function 11).
40 Support Services -Administrative
• Function 41-General Administration-This function includes expenses incurred for the overall
administrative responsibilities of the District. It includes expenses for the school board,
superintendent's office, personnel services, and financial services.
50 Support Services - Non Student Based
• Function 51- Plant Maintenance-This function deals with expenditures made to keep buildings,
grounds, and equipment safe for use and in efficient working condition.This function also includes
expenditures associated with warehousing services. Examples include janitors,facility insurance
premiums, utilities, and warehouse personnel.
• Function 52-Security and Monitoring Services-This function is used for expenditures that are for
activities to keep student and staff surroundings safe, whether in transit to or from school, on a
campus, or participating in school-sponsored events at another location.
• Function 53- Data Processing Services-This function is for non-instructional data processing services
which include computer facility management, computer processing, systems development, analysis,
and design. Personal computers that are stand alone are to be charged to the appropriate function.
Peripherals including terminals and printers are also to be charged to the appropriate function.
60 Ancillary Services
• Function 61-Community Services-This function encompasses all other activities of the school district,
which are designed to provide a service or benefit to the community as a whole or a portion of the
community. Examples would include recreation programs, natatorium, and parenting programs.
70 Debt Service
• Function 71- Debt Service-This function includes wags S31E postlrr2 pomsWpl
ma e c o 0 o U�o�em gom�L
expenditures for bond and lease purchase principal, des possesses
I:�g} cniic�. h� 2Kpeaer�gfowfich
and all types of interest paid. job=::impa�s erzl, pos�reh ifte>on CII�I�
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80 Capital Outlay applieame� �dJlo�lll dmaieg plaCeg,d
• Function 81-Capital Acquisition &Construction-This a1spp�YV rodos Ilvproii/rdledl ha(IdSlq ahiliQeu
function includes expendituresthat are acquisitions, ap liop�GJjegoVldlC�Elold ie:.h 22�26 fiisii quigcli,'E )
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construction, or major renovation of Academy eda9olacbmedeummA M8
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facilities. kp �ierseds IE3f1121S
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FINANCIAL SECTION
Expenditure Classification by Object&Shared
EXPENDITURE CLASSIFICATIONS
BY OBJECT CODE
OBJECT CODE GENERAL DESCRIPTIONS
The object number is a 4-digit code that describes the type of revenue or expenditure incurred and is
comprised of the fifteenth through eighteenth digits in the code structure. For example:
• 61XX Payroll and Payroll Related
• 62XX Professional &Contracted Services
• 63XX Supplies and Materials
• 64XX Other Operating Costs
• 65XX Debt Service
• 66XX Capital
EXPENDITURES BY SHARED SERVICES MODEL
The Academy operates under a shared service model with the Town of Westlake, whereby the Town
provides Human Resources, Financial, Facilities, and Administrative support services to the Academy. These
service costs were previously booked to the Westlake Academy operating budget, but were removed from
the operating budget in the FY 12/13 school year.
The following indirect operating costs are booked to the Town of Westlake's General Fund and Debt Service
Fund.
• Municipal-Transfer to WA Operating Budget
• Annual Debt Service Payments
• General Major Maintenance and Replacement
• In-direct Operating Costs (Payroll and Related)
The shared services model was an integral part of the charter application process that helped bolster the
Town's case for having a community school. The shared service model conserves precious resources and
avoids the duplication of effort across Town and Academy activities.
The support services for the Academy that generate indirect costs paid by the Town of Westlake are:
• Human Resources
• Information Technology
• Facility Maintenance Services
• Finance and Accounting Services
• General Managerial Oversight (Superintendent)
• Town Secretary records maintenance and election administration
• Board Support Services including policy advisement and strategic planning
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7 J N\\ (Z
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IBO Programme Overview
International
Baccalaureate° (IB) 1130 PROGRAMME OVERVIEW
programmes aim to do
more than other curricula
by developing inquiring, Westlake Academy is authorized by the International Baccalaureate (IB)to
knowledgeable and caring offer:
young people who are • Primary Years Programme (PYP)—grades K-5
motivated to succeed. • Middle Years Programme (MYP)—grades 6-10
We strive to develop • Diploma Programme (DP)—grades 11-12
students who will build a
better world through These three linked curricula form the IB Continuum and all three
intercultural understanding programmes are consistent in their pedagogical approach.
and respect. • The PYP gives students an excellent foundation for the IB's other
IB programme frameworks programmes, providing the essential elements that young students
can operate effectively need to equip themselves for successful lives, both now and in the
with national curricula at future.
all ages; more than 50%of • The MYP builds on the knowledge, skills, and attitudes developed
IB World Schools are state- by the Primary Years Programme and prepares students for the
funded. demanding requirements of the Diploma Programme.
• All three programmes are philosophically aligned, each centered
The International on developing attributes of the IB learner profile, described below.
Baccalaureate (IB)offers a When schools implement the full continuum of IB programmes, students
continuum of international realize several benefits including:
education.The
programmes encourage
• Improved standardized test scores.
both personal and • An understanding and appreciation of the world's cultures and
academic achievement, histories among their students.
challenging students to • A sense of community and shared goals among parents, students,
excel in their studies and in teachers, and administrators.
their personal • Graduates complete college faster than their peers,feel more
development. prepared for college-level coursework involving research, and
are better able to cope with demanding workloads and
time-management challenges
All IB programmes are
flexible, enabling teachers
to respond to local DIM&PIne
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requirements. s
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The Academy prepares ¢ ry
students for all " "�°` eDLulwn
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standardized testing
required by the State of
Texas, but endeavors to do k"��14` Nn
so in a much more
transdisciplinary manner Pon
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and without"teaching to
the test."
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IB Learner Profiles
IB LEARNER PROFILE AND ATTITDES
The aim of all IB programmes is to develop internationally minded people,who recognizing their
common humanity and shared guardianship of the planet, help to create a better and more peaceful
world.
1. Inquirers—We nurture our curiosity, developing skills for inquiry and research. We know how
to learn independently and with others. We learn with enthusiasm and sustain our love of
learning throughout life.
2. Knowledgeable—We develop and use conceptual understanding, exploring knowledge across a
range of disciplines. We engage with issues and ideas that have local and global significance.
3. Thinkers—We use critical and creative thinking skills to analyze and take responsible action on
complex problems. We exercise initiative in making reasoned, ethical decisions.
4. Communicators—We express ourselves confidently and creatively in more than one language
and in many ways. We collaborate effectively, listening carefully to the perspectives of other
individuals and groups.
5. Principled—We act with integrity and honesty,with a strong sense of fairness and justice, and
with respect for the dignity and rights of people everywhere. We take responsibility for our
actions and their consequences.
6. Open-minded—We critically appreciate our own cultures and personal histories, as well as the
values and traditions of others. We seek and evaluate a range of points of view, and we are
willing to grow from the experience.
7. Caring—We show empathy, compassion and respect. We have a commitment to service, and
we act to make a positive difference in the lives of others and in the world around us.
8. Risk-takers—We approach uncertainty with forethought and determination, and we work
independently and cooperatively to explore new ideas and innovative strategies. We are
resourceful and resilient in the face of challenges and change.
9. Balanced—We understand the importance of balancing different aspects of our lives—
intellectual, physical, and emotional—to achieve well-being for ourselves and others. We
recognize our interdependence with other people and with the world in which we live.
10. Reflective—We thoughtfully consider the world and our own ideas and experience. We work to
understand our strengths and weaknesses to support our learning and personal development.
The IB learner profile represents 10 attributes valued by IB World Schools.
We believe these attributes, and others like them can help individuals and groups become
responsible members of local, national and global communities.
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IB Learner Profiles
KNOWLEDGEABLE
PRINCIPLED
RISK TAKERS wr OPEN-MINDED
CARING
CUMMUNICATORs
1k,
� � �.� � � �� �� BALANCED
THINKERS
jr
I REFLECTIVE
INQUIRERS
1
The 1B Learner Profile
r
and Attitudes
APPRECIATION
TOLERANCE
COMMITMENT
RESPECT
CONFIDENCE
INTEGRITY
COOPERATION
CREATIVITY INDEPENDENCE
CURIOSITY ENTHUSIASM
EMPATHY
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Primary Years Programme
PRIMARY YEARS PROGRAMME
IB Primary Years Programme (PYP)—grades K-5
Department Contact Information
*Rod Harding
*PYP Principal 4'Of'Fr F
rhardinq@westlakeacademy.ora _ `AN�UacE
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Program Service Description o�`"ES'°r�
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The PYP is a curriculum framework for children aged 3-
N q w 4
12 that prepares students for the intellectual challenges 0 4 o
of further education and their future careers, focusing 3 p� 1
01
on the development of the whole child as an inquirer, yr� J9OACkESTOLE�R� y
both in the classroom and in the world, outside. EXHIBIT1OR y�S
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By emphasizing critical thinking and fostering the WoRKS �io%4wEExpR�
development of universal human values,the PYP is a ■
powerful means of going beyond classroom learning,
asking students to use their knowledge and skills to
solve real-world problems. Students become responsible for their own learning and must work
collaboratively with peers, building on each member's strength.
• Knowledge, which is both disciplinary, represented by traditional subject areas (language, math,
science, social studies, arts, PSPE) and transdisciplinary
• Concepts,which students explore through structured inquiry to develop coherent, in-depth
understanding, and which have relevance both within and beyond subject areas
• Skills, which are the broad capabilities students develop and apply during learning and in life beyond
the classroom
• Attitudes, which contribute to international-mindedness and the wellbeing of individuals and learning
communities, and connect directly to the IB learner profile
• Action, which is an expectation in the PYP that successful inquiry leads to responsible, thoughtful
and appropriate action.
PYP Performance Data
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of the Every Student Succeeds Act(ESSA).
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Middle Years Programme
MIDDLE YEARS PROGRAMME
IB Middle Years Programme (MYP)—grades 6-10
Department Contact information
Andra Barton ■► '.
*MYP Principal
abarton@westlakeacademy.org
w..
Program Service Description Nor YOTERG G�
MYP is a challenging framework that encourages
students to make practical connections between their
O a y W
studies and the real world. The programme aims to
develop active learners and internationally minded
young people who can empathize with others and
pR��ECT P�RS��
pursue lives of purpose and meaning. The programme
empowers students to inquire into a wide range of
issues and ideas of significance locally, nationally and f
globally.The result is young people who are creative,
critical and reflective thinkers.
The Years Programme (MYP) comprises eight subject groups:
❖ Language acquisition ❖ Language and literature ❖ Individuals and societies
❖ Sciences ❖ Mathematics ❖ Arts
❖ Design ❖ Physical and health education
The MYP requires at least 50 hours of teaching time for each subject group in each year of the
programme. In years 4 and 5, students have the option to take courses from six of the eight subject
groups within certain limits, to provide greater flexibility in meeting local requirements and individual
student learning needs. Each year, students in the MYP also engage in at least one collaboratively
planned interdisciplinary unit that involves at least two subject groups. MYP students also complete a
long-term project,where they decide what they want to learn about, identify what they already know,
discovering what they will need to know to complete the project, and create a proposal or criteria for
completing it.
MYP Performance Data
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of the Every Student Succeeds Act(ESSA).
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Diploma Years Goals and Objectives
DIPLOMA YEARS PROGRAMME
IB Diploma Programme (DP)—grades 11-12
Department Contact Information
*Stacy Stoyanoff
DP Principal
sstoyanoff@westlakeacademy.org L�ooe
ACkAE5 7o r Fy
Program Service Description
DP students study six subject groups, including `
language acquisition, language and literature, ~ 4 {
individuals and societies, mathematics,the arts, and
sciences. Normally three subjects are studied at a
higher level (courses representing 240 teaching hours) r.AcM01'
and the remaining three subjects are studied at a
standard level (courses representing 150 teaching
hours).
DP Performance Data
Made up of three required components, the DP core aims to broaden students' educational experience
and challenge them to apply their knowledge and skills. The three core elements include:
• Extended Essay-The extended essay offers the student the opportunity to investigate a topic of
individual interest, and acquaints students with the independent research and writing skills
expected at university.
• Theory of Knowledge (TOK)-The TOK course is plays a special role in the Diploma Programme by
providing an opportunity for students to reflect on the nature of knowledge, and on how we
know what we claim to know. As a thoughtful and purposeful inquiry into different ways of
knowing, and into different kinds of knowledge,TOK is composed almost entirely of questions.
The most central of these is "How do we know?",while other questions include:
o What counts as evidence for X?
o How do we judge which is the best model of Y?
o What does theory Z mean in the real world?
Through discussions of these and other questions, students gain greater awareness of their
personal and ideological assumptions, as well as developing an appreciation of the diversity and
richness of cultural perspectives.
• Creativity,Action,Service(CAS)- Participation in the school's CAS programme encourages
students to be involved in artistic pursuits, sports and community service work,fostering student
awareness and appreciation of life outside the academic arena.
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Diploma Years Goals and Objectives
Students are assessed both internally by WA instructors and externally by IB examiners in ways that
measure individual performance against stated objectives for each subject.
• Internal assessment- In nearly all subjects at least some student assessment is carried out
internally by WA teachers, who mark individual pieces of work produced as part of a course of
study. Examples include oral exercises in language subjects, projects, student portfolios, class
presentations, practical laboratory work, mathematical investigations and artistic performances.
• External assessment-Some assessment tasks are conducted and overseen by Academy teachers
but marked externally by IB examiners. Examples include world literature assignments for
language Al,written tasks for language A2, essays for theory of knowledge and extended essays.
Because of the greater degree of objectivity and reliability provided by the standard examination
environment, externally marked examinations form the greatest share of the assessment for each
subject.
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
The STAAR exam has increased rigor over previous testing standards and complies with the requirements
of Every Student Succeeds Act (ESSA).
41
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r
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Enrollment Boundaries
ENROLLMENT BOUNDARIES
Westlake Academy's student enrollment is established by two sets of boundaries.
• The primary boundary encompasses the Town of Westlake and allows Westlake residents automatic
entry into Westlake Academy.
• The secondary boundaries are comprised of 31 of the surrounding school district's boundaries.
While any school-age child residing within
these district boundaries can attend the om
AcademY g, demand for entrance exceedin capacity may necessitate that child being
placed on the waiting list.
Westlake Academy's secondary boundaries 59.0% °
41.0% 32.0%
are comprised of the following Independent Li
School District boundaries:
Argyle ISD Duncanville ISD Krum ISD
Arlington ISD Eagle Mountain-Saginaw ISD Lake Dallas ISD
Azle ISD Fort Worth ISD Lewisville ISD
Birdville ISD Frisco ISD, Garland ISD Little Elm ISD
Boyd ISD Grand Prairie ISD McKinney ISD
Carroll ISD Grapevine-Colleyville ISD Northwest ISD
Coppell ISD Highland Park ISD Paradise ISD
Carrollton-Farmers Branch ISD Hurst-Euless-Bedford ISD Ponder ISD
Decatur ISD Irving ISD Springtown ISD
Denton ISD Keller ISD Weatherford ISD
x�
+�r�senry ems+
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Student Enrollment
STUDENT ENROLLMENT
As an open enrollment charter school,
Westlake Academy can set and maintain
enrollment numbers at levels determined
by the Board of Trustees.
Westlake Academy has added334 Student Enrollment History
students since FY 09/10 as the result of
increased demand and planned
expansions.
The Academy will be able to serve
approximately 866 students in the 16/17 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15
school year. Actual
Future enrollment must be carefully
managed to ensure adequate space for Student Enrollment Forecast
primary boundary residents.
We plan to maintain an average class size
• 18 students per class in grades K-5
• 25 students per class in grades 6-12.
The Academy currently has over 2,000 FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
students on a waiting list spanning Amended Proposed projected projected projected projected
kindergarten through grade eleven.
The waiting list is developed each year
through a lottery process that allows the Lottery Waiting List
Academy to fill seats if student attrition
occurs and maintains a stable student
population and classroom size.
While any school-age child residing within
district boundaries can attend the
Academy, demand for entrance exceeding FY 14/15 FY 15/16 FY 16/17
capacity may necessitate that child being
placed on the waiting list.
Enrollment forecasting is based on
several items; Operating Cost per Student
• Lotter Waiting list (Academic Costs Only)
• Residents choosing the Academy
• Residential growth
• Facility Master Plan
All the above circumstances are reviewed FY 15/16 FY16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21
continually to assess to appropriate Amended Proposed projected projected projected projected
enrollment for each school year.
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TEA Accountability Summary
TEXAS EDUCATION AGENCY
2016 ACCOUNTABILITY SUMMARY
ACCOUNTABILITY RATING DISTINCTION DESIGNATION
Met Standards On 1w Did Not Meet Standard on
Student Achievement -NONE-
Student Progress Academic Achievement in ELA/Reading
Closing Performance Gaps DISTINCTION EARNED
Post-Secondary Readiness
In 2016 to receive a"Meet Standard"or"Met Alternative Standard"rating,districts and Academic Achievement in Mathematics
campuses must meet targets on three indexes:Index 1 or Index 2 and Index 3 and Index 4 DISTINCTION EARNED
CAMPUS DEMOGRAPHICS Academic Achievement in Science
Campus Typ Elementary/Secondary DISTINCTION EARNED
Campus Size 831 students
Grade Span KG -12 Academic Achievement in Social Studies
%Economically Disadvantaged 0.0 DISTINCTION EARNED
English Language Learner 0.4
Mobility Rate 7,7 Top 25 Percent Student Progress
DISTINCTION EARNED
PERFORMANCE INDEX SUMMARY Top 25 Percent Closing Performance Gaps
Points Maximum Index DISTINCTION EARNED
Met Standards On Earned Points Score
Student Achievement 1,321 1,368 97 Post-Secondary Readiness
Student Progres 571 1,200 48 DISTINCTION EARNED
Closing Performance Gaps 946 1,400 68
Post-Secondary Readiness
• STAAR Score 19.3 1 -
• Graduation Rate Sore 25.0
• Graduation Plan Score 25.0
• Post-Secondary Component Score 25.0 94
SYSTEM SAFEGUARDS PERFORMANCE INDEX REPORT
Number and Percentage of Indicators Met
Performance Rates 17 out of 17= 100%
Participation Rates 10 out of 10= 100%
Graduation Rates 2 out of 2= 100%
Total 29 out of 29 = 100%
Student Student Progress Closing Post Secondary
Achievement (Target Score=17) Performance Gaps Readiness (Target
(Target Score=60) (Target Score=30) Score=60)
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Benchmark Data
BENCHMARK DATA
Westlake Academy was upgraded from a four and one-half stars to a five-star rating from the Texas State
Comptroller's FAST School District Rating System in 2016 for providing quality education at a reasonable per
student cost. This was an upgrade from the prior score of four and one-half. Future enrollment increases will
further improve efficiencies and reduce per student cost.
Using both academic progress and spending levels at Texas' school districts and individual school campuses,
each district and campus has been assigned a Smart Score of one to five stars, indicating its success in combining
cost-effective spending with the achievement of measurable student academic progress compared with
their fiscal peers. Five stars reflect the strongest relative progress combined with the lowest relative
spending.
The State's school and district comparison calculations use three-year averages to get more stable and
persistent measures with less year-to-year volatility.Thus, the 2016 TXSmartSchools results are based on data
from the 2012-2013, 2013-2014 and 2014-2015 school years.
Spending Index Very Low Spending
Composite Academic Progress Quintile Very High Academic Progress / , 1 • F
TEA Accountability Rating Met Standard 6L
Composite
Academic Adjusted
Total Progress Spending Charter % %Special %Student
District Name Students Percentile Per Student School LEP Education Mobility
Chaparral Star Academy 358 0.14 $5,921.00 1 0.0 2.5 23.3
Treetops School International 363 0.074 $6,592.67 1 0.0 5.8 6.3
Dodd City ISD 385 0.076 $8,716.67 0 1.6 8.6 9.0
Mumford ISD 612 0.073 $6,772.67 0 15.0 8.2 6.2
Nova Academy(Southeast) 720 0.157 $6,506.33 1 35.4 5.7 10.8
Westlake Academy
Charter School 815 0.174 $8,893.00 1 0.0 4.4 4.4
Burnham Wood Charter School 968 0.116 $7,973.00 1 22.9 4.0 11.1
Lone Oak ISD 997 0.092 $7,436.00 0 1.2 12.8 14.1
Ser-Nino's Charter School 1,031 0.115 $6,895.33 1 90.8 4.0 4.1
Meridian World School LLC 1,064 0.09 $6,614.67 1 2.8 4.4 10.3
16
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Benchmark Data
Benchmarking against the surrounding local ISDs, Westlake Academy's expenditures are near the median when
comparing expenditures per student, excluding debt service and capital expenditures. Westlake's student-
teacher ratio compares favorably to surrounding student districts.
PER-PUPIL EXPENDITURE COMPARISON
Fiscal Year Westlake Carroll Northwest Keller
Academy ISD ISD ISD
09/10 $ 8,457 $ 9,667 $ 10,102 $ 6,298
10/11 9,921 10,137 9,770 6,565
11/12 8,772 10,035 8,717 6,017
12/13 8,264 10,178 8,105 6,536
13/14 9,694 10,346 7,588 6,998
14/15 9,146 11,571 7,983 7,624
15/16 estimated * 10,087 Data N/A 8,499 7,982
16/17 projected $ 9,697 Data N/A Data N/A Data N/A
* Increase due to additional expenditures related to the use of designated fund balance for technology
needs in FY 14/15
STUDENT-TEACHER RATIO COMPARISON
Westlake Keller Northwest Carroll State
Fiscal Year Academy ISD ISD ISD Average
11/12 14.3 17.16 16.0 15.0 15.4
12/13 14.0 17.1 15.9 15.1 15.5
13/14 13.8 16.6 16.0 14.9 15.5
14/15 13.5 15.6 15.4 14.8 15.2
15/16 estimated 13.0 Data N/A 14.5 Data N/A Data N/A
16/17 Projected 13.6 Data N/A Data N/A Data N/A Data N/A
KNOW YOZTR IMIPACT !
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INFORMATIONAL SECTION
STARR Performance Data
STARR PERFORMANCE DATA
Westlake Academy administers the State of Texas Academic Achievement and Readiness (STAAR)test to
assess student aptitude in reading, writing, math, science, and social studies as required under Texas
education code.
EraTThe STAAR exam has increased rigor over previous testingState of Texas
standards and complies with the requirements of the
Assessments of Every Student Succeeds Act (ESSA).
ReadinessAcademic
The following tables display student standardized test performance for the last two years.
Level II Satisfactory Phase-In 2 (Effective 2015-16). Data for the 2016-2017 school year are projections
based upon Westlake's goal to have a Level III rate of at least 50% in all subjects tested.
PRIMARY YEARS PROGRAMME TEST RESULTS
READING
Level 11 Level 11
Grade Comparison Satisfac lory Level III Satisfactory
ory
t Jf1k
Grade 3 2014-2015 94% 47% 89.5%
2015-2016 NA 58% 98%
2016-2017 NA 65% 99%
Grade 4 2014-2015 98% 38% 98%
2015-2016 NA 41% 96%
2016-2017 NA 50% 98%
Grade 5 2014-2015 98% 38% 98%
2015-2016 NA 36% 100%
2016-2017 NA 50% 100%
WRITING
Level 11 Level 11
wa Comparison Satisfacto7v-Level III V Satisfactory
Level Year Phase-in I Advanced Phase-in 2
Grade 4 2014-2015 93% 20% 83%
2015-2016 NA 37% 89%
2016-2017 NA 50% 90%
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INFORMATIONAL SECTION
STARR Performance Data
SCIENCE
Level 11 Level 11
rade Comparison Satisfactory Level III Satisfactory
IwLevel Year I[ Phase-in 1 NFAdvanced Phase-in 2
Grade 5 2014-2015 87% 1 20% 83%
2015-2016 NA 2% 88%
2016-2017 NA 50% 90%
MATH
Level 11 Level 11
Grade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2
Grade 3 2014-2015 89% NA NA
2015-2016 NA NA 96%
2016-2017 NA 40% 100%
Grade 4 2014-2015 94% NA NA
2015-2016 NA NA 88%
2016-2017 NA 40% 90%
Grade 5 2014-2015 96% NA NA
2015-2016 NA NA 100%
2016-2017 NA 50% 100%
MIDDLE YEARS PROGRAMME TEST RESULTS
WRITING
Level 11 Level 11
6d
o
.
Year Phase-in I TALdvanced Phase-in 2
Grade 7 2014-2015 97% 39% 93%
2015-2016 NA 28% 96%
2016-2017 NA 50% 98%
HUMANITIES
Level 11 Level 11
rade Comparison Satisfactory Level III Satisfactory
IwLevel Year Phase-in 1 Advanced Phase-in 2
Grade 8 2014-2015 99% 31% 89%
2015-2016 NA 55% 99%
2016-2017 NA 55% 100%
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INFORMATIONAL SECTION
STARR Performance Data
SCIENCE
Level 11 Level 11
rade Comparison Satisfactory Level III Satisfactory
IwLevel Year I[ Phase-in 1 NFAdvanced Phase-in 2
Grade 8 2014-2015 97% 28% 88%
2015-2016 NA 39% 99%
2016-2017 NA 50% 100%
SCIENCE
kGrade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in I Advanced Phase-In 2
Biology EOC 2014-2015 99% 38% 88%
Grade 9 2015-2016 NA 46% 100%
2016-2017 NA 50% 100%
ENGLISH
Level 11 Level 11
Grade Satisfa cto 've I III Satisfactory
�m Level Comparison Year Phase-injpAd vanced
9 English 1 2014-2015 100% 60% 100%
2015-2016 NA 46% 97%
2016-2017 NA 50% 100%
10 English II 2014-2015 99% 24% 99%
2015-2016 NA 35% 99%
2016-2017 NA 50% 100%
MATH
Level 11 Level 11
Grade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2
Grade 6 2014-2015 97% 20% NA
2015-2016 NA 53% 97%
2016-2017 NA 53% 100%
Grade 7 2014-2015 94% 39% NA
2015-2016 NA 39% 96%
2016-2017 NA 50% 100%
Algebra 2014-2015 94% NA 51%
2015-2016 NA 53% 94%
2016-2017 NA 58% 100%
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INFORMATIONAL SECTION
STARR Performance Data
READING
Level 11 Level 11
Grade Comparison Satisfactory Level III Satisfactory
Level Year Phase-in 1 Advanced Phase-in 2
Grade 6 2014-2015 100% 54% 96%
2015-2016 NA 50% 97%
2016-2017 NA 55% 100%
Grade 7 2014-2015 99% 58% 93%
2015-2016 NA 50% 96%
2016-2017 NA 55% 100%
Grade 8 2014-2015 100% 65% 100%
2015-2016 NA 45% 100%
2016-2017 NA 50% 100%
DIPLOMA YEARS PROGRAMME TEST RESULTS
HUMANITIES
kLevel 11 Level 11 -01
rade Comparison Satisfactory Level III Satisfacto ry
Level Year Phase-in 1 Advanced Phase-in 2
U.S. History 2014-2015 100% 62% 100%
EOC Grade 11 2015-2016 NA 71% 100%
2016-2017 NA 75% 100%
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Parent Survey Results
PARENT SURVEY RESULTS
Westlake Academy is focused on delivering high quality educational services and depends upon input from our
stakeholders. Westlake Academy routinely conducts an Annual Parent Survey to help identify any future needs
and to prioritize resource allocation. The most recent Westlake Academy Parent Survey was conducted in May
2015 where we saw an overall decrease in the satisfaction rate of 10%with the quality of educational services
that were provided.
W
Lj 71%of the parents surveyed were very satisfied
or satisfied with the overall quality of education
Westlake Academy delivers to its students.
72% of our parents were very satisfied or
satisfied with the IB Curriculum/Framework
Lt�.r�ll 5�tisi��tiu�1 �ciill
70% of the parents surveyed were either very satisfied or
satisfied with the academic progress of their child
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Personnel and Staffing
PERSONNEL & STAFFING
Given the funding constraints we are facing, accurate expenditure projections are more important than ever.
Since salaries make up the greatest portion of the expenditure budget, it is logical to apply forecasting
techniques that can provide a true picture of where payroll dollars are headed.
Personnel staffing levels for Westlake Academy are presented in full-time equivalents (FTE) positions. For
example, a position staffed for 40 hours per week for 52 weeks per year(2,080 hours) equals one full-time
equivalent position. An FTE position of.50 refers to a position that is funded for 1,040 hours per year(2,080 x
.50). The personnel count includes vacant positions.
PAYROLL & RELATED COSTS
MW FY 15/16 FY 16/17 Change Change
Estimated Adopted Amount Percent
PR Wages $ 5,234,699 $ 6,033,629 $ 798,930 15%
PR Taxes 85,285 25,189 (60,096) -70%
PR Insurance 288,285 78,325 (209,960) -73%
Workers' Compensation 25,875 7,103 (18,772) -73%
TRS On-Behalf 414,401 107,322 (307,079) -74%
Unemployment Taxes 1,768 6,633 4,865 275%
PR Retirement (TRS) 116,529 32,163 (84,366) -72%
GRAND TOTAL $6,166,842 $6,290,364 $ 123,522 2%
EMPLOYEE POSITIONS BY TYPE
Employee FY 15/16 FY 16/17
Type FY 11/12 FY 12/13 FY 13/14 FY 14/15 Estimated Adopted Total
Principals 2.50 3.00 4.00 4.50 4.50 4.50 -
Coordinators 2.50 3.50 3.50 3.50 4.50 4.50 -
Primary 17.90 17.90 19.90 23.59 27.00 27.00 -
Secondary 25.35 24.50 24.91 30.92 32.06 32.83 0.77
Support 12.65 13.27 13.97 18.10 15.50 14.00 (1.50)
Specialist 2.33 3.50 3.50 5.00 6.25 6.00 (0.25)
Foundation 1.50 1.50 1.50 1.50 1.50 1.50 -
Facilities 1.60 1.60 1.60 2.00 2.00 2.00 IT Dept. 1.80 1.80 1.80 1.10 2.00 2.00 -
Total Staff 68.13 70.57 74.68 90.21 95.31 94.33 (0.98)
Total Teachers 45.58 45.90 48.31 59.51 65.31 65.83 0.52
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Personnel and Staffing
■
Secondary
35%
■
Primary
29%
■
The following charts break down the number of employees by job function (primary and secondary school
teachers, instructional administration, etc.). Employee growth has been driven by Academy expansions as the
school matured into a full K-12 campus.
Defined Employee ;; ,. ■IT Dept
Groups by FTE
■Facilities
Mrom ■Foundation
i® iLL_ '
IIIIIIi�c1C�
Specialist
Support
■Secondary
■Primary
' ■Coordinators
®i Principals
FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
ESTIMATED PROPOSED
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Personnel and Staffing
Fair Labor Standards Act(FLSA)
The Fair Labor Standards Act established minimum wage, overtime, recordkeeping, and child labor standards and
applies to all full-time and part-time employees. As amended in 1985, the FLSA provides the option for
compensatory time in lieu of overtime compensation for non-exempt employees. Executive, administrative, and
professional employees meeting Department of Labor exemption guidelines are exempt from FLSA overtime
requirements. The Town will comply with the FLSA for all employees.
Non-Exempt Positions
All non-exempt(hourly) positions are eligible for overtime compensation. Bi-weekly wages are based on a 40-
hour work week(2,080 hours per year), equaling one full-time equivalent(FTE) position. There are 26 pay periods
per year. This work schedule applies to all hourly regular, year-round employees, except for Fire/EMS employees.
Fire/EMS operates on a 15-day pay period, and there are 24 pay periods per year.
Exempt Positions
Exempt (salaried) positions are not eligible for overtime compensation. Salary amounts are not calculated or
based on the number of hours worked. Exempt positions include managers and directors, and classifications are
determined by Department of Labor guidelines.
Vacancy Adiustments
Not all positions will be filled 52 weeks per year, and so these expected vacancies are addressed in the salary
budgeting process.
1. Start Dates- Expected start dates for open positions may vary. Keeping track of those assumptions is
important because a large dollar variance may result when an actual start date differs from the budgeted
date.
2. Attrition (Planned Retirements) - Budget consideration should be given for those positions where
employees have indicated specific retirement dates. Payouts need to be budgeted.
3. Impact of Inflation- Inflation can have a significant impact on payroll forecasting. Cost-of-living
adjustments often are used when forecasting personnel costs.The Consumer Price Index(CPI), a broad
measure of consumer inflation, is the cost-of-living index used most often for determining salary
increases.The U.S. Bureau of Labor Statistics' Employment Cost Index might be a better index for this
purpose, as it measures the change in the cost of labor,free from the influence of employment shifts
among occupations and industries.
4. Seasonal and Temporary Positions-Some divisions or jurisdictions use part-time or seasonal employees.
5. Other Considerations-Some governments make more use of overtime as an option instead of hiring
fulltime workers.The use of retired employees for contractual services is another alternative to adding
headcount.
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Personnel and Staffing
PERSONNEL POSITION SUMMARY
Classes Served K-12 K-12 K-12 K-12 K-12
Executive Director - 0.50 1.00 1.00 1.00 -
Primary Principal 1.00 1.00 1.00 1.00 1.00 -
Secondary Principal 1.00 1.00 1.00 1.00 1.00 -
Asst. Secondary Principal 0.50 1.00 1.00 1.00 1.00 -
DP Principal 0.50 0.50 0.50 0.50 0.50 -
Principal Staffing 3.00 4.00 4.50 4.50 4.50 -
DP Coordinator 0.50 0.50 0.50 0.50 0.50 -
MYP Academic Dean - - - 1.00 1.00 -
MYP Coordinator 1.00 1.00 1.00 1.00 1.00 -
PYP Coordinator 1.00 1.00 1.00 1.00 1.00 -
Student Services Coordinator - - - 1.00 1.00 -
Admin Coordinator 1.00 1.00 1.00 - - -
Coordinator Staffing 3.50 3.50 3.50 4.50 4.50 -
Primary- Kindergarten 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 1 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 2 2.00 2.00 3.00 3.00 3.00 -
Primary-Grade 3 2.00 3.00 3.00 3.00 3.00 -
Primary-Grade 4 3.00 3.00 3.00 3.00 3.00 -
Primary-Grade 5 2.00 3.00 3.00 3.00 3.00 -
Primary-Art 1.00 1.00 1.50 1.00 1.00 -
Primary-Counselor 1.50 1.50 1.35 1.00 1.00
Primary- Math - - - 1.00 1.00 -
Primary- Music 0.40 0.40 0.40 1.00 1.00 -
Primary- PE 1.00 1.00 1.00 2.00 2.00 -
Primary- Reading Spec. - - 0.34 1.00 1.00 -
Primary-Spanish 1.00 1.00 1.00 2.00 2.00 -
Primary Staffing 17.90 19.90 23.59 27.00 27.00 -
Secondary-Art - - 1.32 2.32 2.16 (0.16)
Secondary- Business Management - - 1.00 1.00
Secondary-Counselor 1.50 1.50 1.35 1.00 1.00 -
Secondary- Economics - - 1.00 1.00 1.00 -
Secondary- English 3.00 3.00 4.00 3.50 3.50 -
Secondary- Foreign Lang. 3.34 4.34 4.34 4.32 4.00 (0.32)
Secondary-Grade 6 3.00 2.00 3.00 3.00 3.00 -
Secondary- Humanities 4.00 4.25 3.75 3.92 4.33 0.41
Secondary- Math 3.00 3.00 5.00 5.50 5.50 -
Secondary- PE 1.50 1.50 2.00 2.00 2.00 -
Secondary- Performing A&D - - - 1.00 1.00 -
Secondary- Personal Project - - - 0.50 0.50 -
Secondary-Science 3.50 3.66 3.50 4.00 3.84 (0.16)
Secondary- Reading Spec. 0.66 0.66 0.66 - - -
Secondary-Theater Arts 1.00 1.00 1.00 - - -
secondary Staffing 24.50 24.91 30.92 32.06 32.83 0.77
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Personnel and Staffing
ProposedEstimated
Classes Served K-12 K-12 K-12 K-12 K-12
Teaching Aides 5.87 6.07 8.00 8.50 7.00 (1.50)
Librarian/Aide 1.00 1.00 1.00 1.00 1.00 -
Nurse 1.00 1.00 1.00 1.00 1.00 -
Office Aide 3.00 3.00 4.10 4.00 4.00 -
Registrar 1.00 1.00 1.00 1.00 1.00 -
Dir. of Student Life - - 1.00 - - -
Dir. of Curriculum - 0.50 1.00 - - -
Lunchroom Personnel 0.40 0.40 - - - -
Study Hall/Tutor 1.00 1.00 1.00 - - -
Support Staffing 13.27 13.97 18.10 15.50 14.00 (1.50)
Dyslexia/ Literacy - - - - 1.00 1.00
IT Integration 1.00 1.00 1.00 1.00 1.00 -
Special Education 2.00 2.00 3.00 3.25 3.00 (0.25)
Speech 0.17 0.17 - 1.00 - (1.00)
Strings Staff 0.33 0.33 1.00 1.00 1.00 -
Specialist Staffing 3.50 1 3.50 1 5.00 1 6.25 6.00 (0.25)
WAF Director 1.00 1.00 1.00 1.00 1.00 -
WAF Office Aide 0.50 0.50 0.50 0.50 0.50 -
Foundation Staffing 1 1.50 1 1.50 1 1.50 1 1.50 1.50 -
Facilities Day Porter 0.60 0.60 1.00 1.00 - (1.00)
Facilities Technician 1.00 1.00 1.00 1.00 2.00 1.00
Facilities Staffing 1.60 1.60 2.00 2.00 2.00 IT Coordinator - - - 1.00 1.00 IT Tech 1.80 1.80 1.10 1.00 1.00 -
IT Department Staffing 1.80 1.80 1.10 2.00 2.00 -
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Academic Achievements
2015/16 ACADEMIC ACHIEVEMENTS
NATIONAL RECOGNITION
• Westlake Academy was ranked #58 of all high schools and #17 of all
Charter high schools in the United States in US News and World Report. BEST
In addition, US News and World Report ranked Westlake Academy#9 HIGH SCHOOLS
of all high schools in Texas.
• Westlake Academy was ranked #32 of all high schools in the United G O
Goy❑
States in the Washington Post Challenge Index and #14 best high 2016
school in Texas.
• Westlake Academy was ranked #1 of all high schools in Tarrant County
by the Children At Risk organization and ranked#3 of all middle schools in Tarrant County.
STAFF ACCOMPLISHMENTS:
• Several faculty members continue to represent the International
Baccalaureate as Workshop Leaders, Site Visitors and Consultants.
• Westlake Academy received the Distinguished Budget Presentation
Award from the Government Finance Officers Association. ERICA'S MOST
CHALLENGING
• The Academy received the Meritorious Budget Award from the L HIGH SCHOOLS--i
Association of School Business Officials International (ASBO).
STUDENT ACCOMPLISHMENTS
• 38 Academy graduates received the prestigious IB Diploma.
• The graduating class received over$4 million in scholarship and grant offers.
• All students were accepted into at least one college/university,with many into
top tier schools across the State and the U.S.
• One graduate was named a National Merit Scholar.
• Two graduates were named a National Merit Hispanic Scholar.
• Two graduates were named a National Merit Commended Scholar.
• One graduate was named an AP Scholar.
• Four graduates were named an AP Scholar with Honor.
• One graduate was named an AP Scholar with Distinction.
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Athletic Achievements
2015/16 ATHLETIC ACHIEVEMENTS
The 2015/2016 school year saw 36 High School athletes earn All-State Honors and
52% of the student body in grades 9-12 participate in at least one sport. 58%of
students in grades 6-12 participated in at least one sport. Achievements include:
Varsity Volleyball Junior Varsity Volleyball
District& State Champions District& Regional Champions
Varsity Soccer Junior High Soccer
District Champions & State Runner Up District Champions
Varsity Cross Country Junior High Cross Country
Individual Women's State Champion Individual Men's Regional Champion
Women"s Team State Champion Men's Team Regional Runner Up
Varsity Football Junior High Men's & Women's Basketball
State Quarterfinalist District Champion— Women Regional Champs
Varsity Men's Basketball Junior Varsity Men's Basketball
District Champion, State Runner Up Regional Runner Up
Varsity Women's Basketball Varsity Softball
District& State Champions State Runner Up
Varsity Men's Golf Varsity Women's Golf
District& State Champions District Champions, State Runner Up
Varsity Track & Field Junior High Track& Field
Individual State Champions Individual Regional Champions
Varsity Baseball Varsity Tennis
District Champion Team Runner Up,
Men's Doubles State Champions
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Glossary
GLOSSARY
• Account: A descriptive heading under which are aggregate day's attendance is divided by the
recorded financial transactions that are similar in number of days of instruction to compute average
terms of a given frame of reference, such as daily attendance. ADA is used in the formula to
purpose, object or source. distribute funding to Texas public school districts.
• Accounting Period: A period of the end of which, • Administration: Those activities which have as their
and for which,financial statements are prepared; purpose the general regulation, direction, and
for example, September 1 through August 31. See control of the affairs of the local education agency
also FISCAL PERIOD. that are system-wide and not confined to one school
subject, or narrow phase of school activity.
• Accounting Procedure: The arrangement of all
processes which discover, record, and summarize • Appropriation: An authorization granted by a
financial information used to produce financial legislative body to make expenditures and to incur
statements and reports and to provide internal obligations for specific purposes.An appropriation is
control. usually limited in amount and as to the time when it
may be expended.
• Accounting System: The total structure of records
and procedures which discover record, classify and • Academic Excellence Indicators System (AEIS): A
report information on the financial position and system of indicators established by the Legislature
operations of a school district or any of its funds, and adopted by the State Board of Education to help
balanced account groups, and organizational determine the quality of learning on a campus and
components. in a school district.The indicators include passing
rates on the state assessment tests, attendance,
• Accrual Basis of Accounting: The basis of graduation rates, dropout rates, and scores on
accounting, under which revenues are recorded college entrance exams.The state will assess district
when earned, and expenditures are recorded as and school performance compared with state-level
soon as they result in liabilities, regardless of when standards. AEIS is the foundation for a school
revenue is received or a payment is made. district's accountability rating.
• Accrue:To record revenues when earned or when • Accountability Ratings: The Accountability Ratings
levies are made and to record expenditures as soon System ranks campuses and districts as exemplary,
as they result in liabilities, regardless of when the recognized, acceptable, and low performing based
revenue is received or the payment is made. on the percentage of students who pass the state
Sometimes,the term is used in a restricted sense to assessment instruments and the dropout rate.
denote the recording of revenues earned but not yet
due, such as accrued interest on investments and • Assigned Fund Balance: Reports amount that are
the recording of expenditures which result in constrained by the government's intent that they
liabilities that are payable in another accounting will be used for specific purposes. Decision making
period, such as accrued interest on bonds. about these amounts may be made by a committee
or other governmental official. Compared to
• ADA: Average Daily Attendance is based on the Committed Fund Balance,the resources represented
number of days of instruction in the school year.The by the Assigned Fund Balance can be more easily
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Glossary
redeployed and the constraints are not as stringent. financing them.The second part is composed of
Except for the General Fund,fund balance amounts drafts of the appropriation, revenue, and borrowing
that are not labeled as non-spendable, restricted or measures necessary to put the budget into effect.
committed would be reported in the Assigned Fund The third part consists of schedules supporting the
Balance category. Therefore, the Assigned Fund summary.These schedules show in detail the
Balance becomes the residual amount for the proposed expenditures and means of financing
Special Revenue Fund, Capital Project Fund and them together with information as to past years'
Debt Service Funds. actual revenues and expenditures and other data
used in making the estimates.
• Association of School Business Officials
International (ASBO): The Association of School • Budgetary Control: The control management of the
Business Official' International, founded in 1910, is a business affairs of the school district in accordance
professional association which provides programs with an approved budget with a responsibility to
and services to promote the highest standards of keep expenditures within the authorized amounts.
school business management practices, professional
growth, and the effective use of educational • Basic Allotment:The basic allotment is the initial or
resources. starting number that, after adjustment, is used to
calculate foundation program costs and state aid
• Audit: A comprehensive review of the way the to school districts and charters.
government's resources were utilized. A certified
public accountant issues an opinion over the • Budgetary Basis of Accounting:The method used to
presentation of financial statements,tests the determine when revenues and expenditures are
controls over the safekeeping of assets and makes recognized for budgetary purposes.
recommendations for improvements for where
necessary. • Capital Expenditures: Capital expenditures are
defined as charges for the acquisition at the
• Balanced Budget: A balanced budget is a budget delivered price including transportation, costs of
with total expenditures not exceeding total equipment, land, buildings, or improvements of land
revenues and monies available in the fund balance or buildings,fixtures, and other permanent
within an individual fund. improvements with a value more than $5,000 and a
useful life expectancy of greater than 1 year.
• Balance Sheet: A summarized statement, as of a
given date, of the financial position of a local • Career and Technical Education (CTE): The costs
education agency per fund and/or all funds incurred to evaluate, place and provide educational
combined showing assets, liabilities, reserves, and and/or other services to prepare students for gainful
fund balance. employment, advanced technical training or for
homemaking. This may include apprenticeship and
• Budget: A plan of financial operation embodying an job training activities.
estimate of proposed expenditures for a given
period or purpose and the proposed means of • Classification, Function: A function represents a
financing them.The budget usually consists of three general operational area in a school district and
parts.The first part contains a message from the groups together related activities;for example,
budget-making authority together with a summary instruction, campus administration, maintenance
of the proposed expenditures and the means of and operations, etc.
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Glossary
fund statements as needed.The CAFR is the
• Classification, Object: An object has reference to an governmental unit's official annual report and
article or service received;for example, payroll should contain introductory information, schedules
costs, professional and contracted services, supplies necessary to demonstrate compliance with finance-
and materials, and other operating expenses. related legal and contractual provisions, and
statistical data.
• Co-curricular Activities: Direct and personal services
for public school pupils such as interscholastic • Cost of Education Index(CEI)or Adjustment: An
athletics, entertainments, publications, clubs, and index the state uses to adjust the basic allotment to
strings, which are managed or operated by the account for geographic or other cost differences
student body under the guidance and direction of an beyond local school district control.The current
adult, and are not part of the regular instructional index has not been updated since 1990.
program.
• Current Budget: The annual budget prepared for
• Coding: A system of numbering, or otherwise and effective during the present fiscal year.
designating, accounts, entries, invoices,vouchers,
etc., in such a manner that the symbol used reveals • Current Expenditures per Pupil: Current
quickly certain required information. expenditures for a given period divided by a pupil
unit of measure (average daily attendance, etc.)
• Consultant: A resource person who aids the regular
personnel through conference, demonstration, • Debt: An obligation resulting from the borrowing of
research, or other means. money or from the purchase of goods and services.
Debts of local education agencies include bonds,
• Contracted Services: Labor, material and other leases, etc.
costs for services rendered by personnel who are
not on the payroll of the Academy. • Diploma Programme(DP): A challenging two-year
curriculum for students in grades 11 and 12 that
• Committed Fund Balance: Represents amounts that provides an inquiry-based, college preparatory
have internally imposed restrictions mandated by education. By emphasizing knowledge, skills, critical
formal action of the government's highest level of thinking and the fostering and development of
decision-making authority. The committed amounts universal human values, students learn the valuable
cannot be redeployed for other purposes unless the skills of construction and deconstruction knowledge.
same type of formal action is taken by the highest
level of decision-making authority to reserve or • Education Service Center(ESQ Twenty
modify the previously imposed restriction. intermediate education units located in regions
throughout Texas that assist and provide services
• Comprehensive Annual Financial Report(CAFR): A for local school districts.
financial report that encompasses all funds and
component units of the government.The CAFR • Estimated Revenue: This term designates the
should contain (a)the basic financial statements and amount of revenue expected to be earned during a
required supplementary information, (b) combining given period.
statements to support columns in the basic financial
statements that aggregate information from more • Expenditures: This includes total charges incurred,
than one fund or component unit, and (c) individual whether paid or unpaid, for current expense,
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Glossary
capital outlay, and debt service. (Transfers and/or other resources, together with all related
between funds, encumbrances, exchanges of cash liabilities, obligations, reserves, and equities which
for other current assets such as the purchase stores are segregated for carrying on in accordance with
and investment of cash in U.S. Bonds, payments of special regulations, restrictions, or limitations.
cash in settlement of liabilities already accounted as • Fund Balance: It is the resources remaining from
expenditures, and the repayment of the principal prior years and which are available to be budgeted
of current loans are not considered as in the current year.
expenditures.)
• Furniture: Those moveable items used for school
• Fiduciary Funds: Fiduciary Funds account for assets operation that are not of a mechanical nature.
held in a trustee or agent capacity for outside Chairs, tables, desks, file cabinets, pictures,
parties, including individuals, private organizations, chalkboards, lamps, lockers and carpets, etc., are
and other governments. examples of furniture.
• Fiscal Period: Any period at the end of which a • General Fund: A fund group with budgetary
local education agency determines its financial control used to show transactions resulting from
position and the results of its operations.The operations of ongoing organizations and activities
period may be a month, or a year, depending upon from a variety of revenue sources for which fund
the scope of operations and requirements for balance is controlled by and retained for the use by
managerial control and reporting. the local education agency. The General Fund is
used to finance the ordinary operations of a
• Fiscal Year: A twelve-month period to which the governmental unit except those activities required
annual budget applies and at the end of which a to be accounted for in another fund.
local education agency determines its financial
position and the results of its operations.The • Government Finance Officers Association (GFOA):
District's fiscal year is July 1 through June 30. A professional association of state/provincial and
local finance officers in the United States and
• Foundation School Program (FSP): A program for Canada, and has served the public finance
the support of a basic instructional program for all profession since 1906. The association's nearly
Texas school children. Money to support the 15,000 members are dedicated to the sound
program comes from the Permanent School Fund, management of government financial resources.
Available School Fund, Foundation School Fund,
state general revenue, and local property taxes. • Governmental Funds: Funds generally used to
Currently,the FSP described in the Texas Education account for tax-supported activities.There are five
Code consists of three parts or tiers.The first tier different types of governmental funds:the general
provides funding for a basic program.The second fund, special revenue funds, debt service funds,
tier provides a guaranteed-yield system so that capital projects funds and permanent funds.
school districts have substantially equal access to
revenue sufficient to support an accredited • Grant: A contribution by one governmental unit to
program.The third tier equalizes debt service another. The contribution is usually made to aid in
requirements for existing facilities debt. the support of specified function (for example,job
training), but it is sometimes also for general
• Fund: An independent fiscal and accounting entity purposes.
with a self-balancing set of accounts recording cash
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Glossary
• Independent Audit: An audit performed by an the demanding requirements of the Diploma
independent auditor. Programme (DP).
• Individual Education Plan (IEP): A document • Modified Accrual Basis of Accounting: Basis of
required by federal law that details the special accounting per which (a) revenues are recognized in
education requirements for each disabled student the accounting period in which they become
and explains how the school intends to address the available and measurable and (b) expenditures are
student's needs.An IEP is intended to help ensure recognized in the accounting period in which the
that disabled students have equal access to public fund liability is incurred, if measurable, except for
education in the least restrictive environment. un-matured interest on general long-term debt and
certain similar accrued obligations, which should be
• Individuals with Disabilities Education Act(IDEA): recognized when due.
The 1997 IDEA strengthens academic expectations
and accountability for the nation's 5.4 million • Non-spendable Fund Balance: Includes amounts
children with disabilities. that cannot be spent and are, therefore, not
included in the current year appropriation. Two
• International Baccalaureate Program (IB): A non- components: 1) Not in spendable form—previously
profit foundation whose mission is to help recorded disbursements and include items that are
students "develop the intellectual, personal, not expected to be converted into cash, i.e.
emotional, and social skills to live, learn and work inventories, pre-paid items, etc. and 2) Legally or
in a rapidly globalizing world." It was founded in contractually required to be maintained intact—
1968 and runs in over 3,000 schools in 141 refers to an amount that has been received that
countries. Its Diploma Program (DP) is designed for must be invested indefinitely, i.e. a donation
high school juniors and seniors, and offers classes in received by the government from a citizen,the
the same areas as traditional schools: math, science, principal of which is to be invested in a permanent
English,foreign language, social studies, and the fund and the earnings used for general
arts. Additionally, students have three extra governmental purposes.
requirements: a class about the theory of
knowledge, a community service obligation, and an • Object Code: As applied to expenditures, this term
extended essay on a research topic of their choice. has reference to an article or service received,for
Along the way, students complete assessments that example, payroll costs, purchased and contracted
help them prepare for the final written exams, services, materials and supplies.
which are graded by external examiners. Upon
graduation, students earn a diploma that is • Open-Enrollment Charters: Open-enrollment
respected worldwide. charter schools may be established by private
nonprofit organizations, colleges and universities,
• Middle Years Programme (MYP):A curriculum and other governmental entities that apply to the
framework for children in grades six through ten State Board of Education.The law authorizes the
that encourages students to make practical State Board to approve up to 215 open-enrollment
connections between their studies and the real charter schools. Law also provides for creation of
world. The MYP builds on the knowledge; skills college or university charter schools at "public
and attitudes developed by the Primary Years senior colleges and universities." There is no limit on
Programme (PYP) and prepare the students for the number of these charter schools that may be
granted. Other charter programs include home-rule
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Glossary
school district charters and campus or campus school year.The aggregate eligible day's attendance
program charters. is divided by the number of days of instruction to
compute the refined average daily attendance. See
• Personnel, Full-Time: Academy employees who also ADA.
occupy positions with duties which require them to
be on the job on school days throughout the school • Restricted Fund Balance: Reports on resources that
year, or at least the number of hours the school is in have spending constraints that are either: 1)
session. externally imposed by creditors, grantors,
• Personnel, Part-Time: Personnel who occupy contributors or laws and regulations of other
positions with duties which require less than full- governments, i.e.grants, etc. -or-2) imposed by law
time service. through constitutional provision or enabling
legislation.The amounts represented by this fund
• Primary Years Programme (PYP): A curriculum balance category have very stringent conditions
framework for children aged 3-12 that prepared imposed by external parties or by law. Therefore,
students for the intellectual challenges of future the amounts are restricted to very specific purposes
education and their future careers,focusing on the and cannot be redeployed for other purposes. The
development of the whole child as an inquirer, both government can be compelled by an external party
in the classroom and in the world outside. to undertake the spending requirements
represented by the Restricted Fund Balance.
• Proprietary Funds: Funds that focus on the
determination of operating income, changes in net • School Board Authority: Statute gives local school
assets (or cost recovery),financial position, and cash boards the exclusive power and duty to govern and
flows.There are two different types of proprietary oversee the management of the public schools.
funds: enterprise funds and internal service funds. Powers and duties not specifically delegated to the
Texas Education Agency or the State Board of
• Public Education Information Management System Education are reserved for local trustees.
(PEIMS): A data management system that includes
information on student demographics, performance, • Special Revenue Funds: Funds that are used to
teacher salaries, etc.The information for PEIMS is account for funds awarded to the Academy for
transmitted from local school districts to the Texas accomplishing specific educational tasks as defined
Education Agency by the education service centers. by grantors in contracts or other agreements.
• Public Information Act(PIA): PIA defines public • State Board for Educator Certification (SBEQ SBEC
information as information collected, assembled, or is a quasi-independent body that gives educators
maintained under a law or about a governmental more authority to govern the standards of their
body's transaction of official business. PIA provides profession. SBEC regulates and oversees all aspects
that public information must be made available to of the certification, continuing education, and
the public upon request during the normal business standards of conduct of public school educators.As
hours of the district, unless an exception applies a state agency, SBEC is responsible for certification
that allows or requires that the information not be testing, accountability programs for educator
made public. preparation programs, and certification of teachers
and administrators.
• Refined ADA: Refined Average Daily Attendance is
based on the number of days of instruction in the
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Glossary
• State Board of Education (SBOE): A 15-member State Board of Education, and commissioner of
body elected by general election (staggered,four- education.
year terms)from various regions statewide to
provide leadership and to adopt rules and policies • Texas Education Code(TEC):This code applies to all
for public education in the state.The board's educational institutions supported in whole or in
primary responsibility is to manage the Permanent part by state tax funds.
School Fund.
• Texas Essential Knowledge and Skills(TEKS):
• Teacher Retirement System (TRS):TRS delivers Subject-specific state leaning objectives adopted by
retirement and related benefits authorized by law the State Board of Education.The State's academic
for members and their beneficiaries. tests. [see Texas Assessment of Knowledge and Skills
(TAKS)] are aligned with the TEKS.
• Technology Allotment: This allotment is part of the
state textbook fund and can be used to purchase • Texas Open Meetings Act(TOMA):TOMA makes
electronic textbooks or technological equipment school board meetings to discuss and decide public
that contributes to student leaning or teacher business accessible.The TOMA Decision requires
training.The allotment is$30 per ADA. governmental entities to provide prior public notice
of what is to be discussed and where and when
• Texas Assessment of Academic Skills (TAAS): A discussion will take place. Closed meetings are
state-developed test administered each year to permitted only when specifically authorized by law.
students in grades 3 through 8 and 10 (exit-level)to Civil and criminal penalties can result when a board
determine student achievement levels on state- violates provisions of this act.
established leaning objectives. Replaced by the
Texas Assessment of Knowledge and Skills (TAKS) • Unassigned Fund Balance:The residual fund
effective for the 2002-03 school year. balance for the General Fund. It represents the
amount of fund balance remaining after allocation
• Texas Assessment of Knowledge and Skills(TAKS): to the Non-spendable, restricted, committed and
TAKS replaces the Texas Assessment of Academic assigned fund balances. This amount reflects the
Skills (TAAS), a criterion-referenced test used in resources that are available for further
Texas schools for 12 years.TAKS began in spring appropriation and expenditure for general
2003,with tests in reading in grades 3 through 9; governmental purposes.
language arts in grades 10 and 11; mathematics in
grades 3 through 11.The 11th grade exit-level test • Weighted Students in Average Daily Attendance
will assess English III, algebra I, geometry, biology, (WADA): In Texas, students with special educational
integrated chemistry and physics, early American needs are weighted for funding purposes to help
and U.S. history,world geography, and world recognize the additional costs of educating those
history.TAKS will be a more challenging examination students. Weighted programs include special
for Texas students, per the results of field tests. education, career and technical, bilingual, gifted and
talented, and compensatory education.A weighted
• Texas Education Agency(TEA):The administrative student count is used to distribute guaranteed-yield
and regulatory unit for the Texas public education funding and establish Chapter 41 thresholds.
system managed by the commissioner of education.
TEA is responsible for implementing public
education policies as established by the Legislature,
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Acronyms Listing
TERM STANDS FOR TERM STANDS FOR
ACCT Account GL General Ledger
ADA Average Daily Attendance GO'S General Obligation Bonds
AEIS Academic Excellence Indicators System HR Human Resources
AP Accounts Payable IB International Baccalaureate Program
AR Accounts Receivable IEP Individual Education Plan
ASBO Association of School Business Officials IDEA Individuals with Disabilities Education Act
BS Balance Sheet IT Information Technology
CAFR Comprehensive Annual Financial Report LTL Long-term Liability
CEI Cost of Education Index MYP Middle Years Programme
CIP Capital Improvement Plan PIA Public Information Act
CO'S Certificates of Obligations PYP Primary Years Programme
CPA Certified Public Accountant R&M Repair and Maintenance
CTE Career and Technical Education S&P Standard and Poor's
DP Diploma Years SBOE State Board of Education
IDS Debt Service SLA Service Level Adjustment
EF Enterprise Fund SRF Special Revenue Fund
ESC Education Service Center(ESC) TAKS Texas Assessment of Knowledge and Skills
FTE Full-Time Equivalent TEA Texas Education Agency
FY Fiscal Year TEKS Texas Essential Knowledge and Skills
G&O Goals and Objectives TOMA Texas Open Meetings Act
GAAP Generally Accepted Accounting Principles TRS Teacher Retirement System
GASB Government Accounting Standards Board WA Westlake Academy
GF General Fund WADA Weighted Average Daily Attendance
GFOA Government Finance Officers Association XFR Transfer
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INFORMATIONAL SECTION
' 201612017 Academic Calendar
fi
t return to T.O.C. estlake Academy
Academic Calendar 2016-2017 Semester 1=84.0 days
Semester 2=85.5 days
"•...,�,w.,�- Total Days =169.5
August 2016 September 2016 October 20161 ,
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa AUG 8-10 New Teacher orientation
1 2 3 4 5 6 1 2 3 1 11-17 All Teacher Orientation
7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 3 4 5 6 7 8 18:First Day of School
14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 14 15 SEP 5:Labor Day(No School)
21 22 23 24 25 26 27 18 19 20 21 22 23 24 16 17 18 19 20 21 22 OCT 6:All Day Parent/Teacher Conferences
28 29 30 31 25 26 27 28 1 29 30 1 23 24 25 1 26 1 27 1 28 1 29 7:Teacher Professional Day(No School)
10 21 30 31 18 10:Columbus Day(No School)
21:Secondary End of 1st Quarter(43 days)
DecemberNovember 2016 NOV 18:Early Release
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 21-25:Thanksgiving Break(21-22 Flex Days for Staff)
1 2 3 4 5 1 2 3 1 2 3 4t9o
DEC 19-30:Winter Break
6 7 8 9 10 11 12 4 5 6 7 8 9 10 8 9 JAN 2:Winter Break
13 14 15 16 17 8 19 11 12 13 14 15 16 17 15 16 17 18 3:Teacher Professional Day(No school)
20 21 22 23 24 25 26 18 19 20 21 22 23 24 22 23 24 25 10:G7-G12 Exams/PYP Assessment FULL DAY
27 28 29 30 "7 27 28 29 30 31 29 30 31 11-13:G7-G12/PYP Assessment(Early Release)
16.5 12 17.5 13:Secondary End of 2nd Quarter(41 days)
16:Martin Luther King,Jr(No School)
FEB 17:Teachers'Professional Day-(No School)
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 20:Presidents'Day(No School)
1 2 3 4 1 2 3 4 1 MAR 13-17 Spring Break
5 6 7 8 9 10 11 5 6 7 8 9 10 11 2 3 4 5 6 7 8 28:Secondary End of 3rd Quarter(43 Days)
12 13 14 15 16 17 18 12 13 14 15 16 17 18 9 10 11 12 13 14 15 APR 7:All Day Parent/Teacher Conferences
19 20 21 22 23 24 25 19 20 21 22 23 24 25 16 17 18 19 20 21 22 10:Teacher Professional Day(No school)
26 27 28 26 27 28 29 30 31 23 24 25 26 27 28 29 14:Bad Weather Make-Up Day
18 17 30 18 MAY 26:Bad Weather Make-Up Day
29:Memorial Day(No School)
• 30:G7-GI1 Exams/PYP Assessment FULL DAY
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 31:G7-GI1 Exams/PYP Assessment(Early Release)
1 2 3 4 5 6 3 1 JUN 1-2:Secondary Semester Exams(Early Release)
7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 3 4 5 6 7 8 2:Last Day of School
14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 14 15 2:Secondary End of 4th Quarter(42.5 Days)
21 22 23 24 25 26 27 18 19 20 21 22 23 24 16 17 18 19 20 21 22 3:Senior Commencement
28 29 1 26 27 28 29 30 23 24 25 26 27 28 29 5:Teacher Work Day
20.5 1 1 1 1301311
First/Last Day of School
Early Release Days Parent/Student Conferences-All Day
No School Semester Exams/PYP Assessments-Early Release
Professional Day-Student Holiday Senior Commencement
Bad weather make up
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Resolution to Adopt the Budget
WESTLAKE ACADEMY
RESOLUTION NO. 16-16
A RESOLUTION OF THE BOARD OF TRUSTEES OF WESTLAKE ACADEMY TO
ADOPT THE REVISED OPERATING BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2016 AND THE PROPOSED BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2017 INCLUDING INVESTMENT POLICY, FISCAL AND BUDGETARY
POLICIES,COMMITTED AND ASSIGNED FUND BALANCES.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF WESTLAKE ACADEMY:
WHEREAS, Section 44.002 of the Education Code of the Texas Education Agency
Texas School Law Bulletin states the budget must be prepared according to generally accepted
accounting principles,and
WHEREAS,the budget must be approved by the Board of Trustees prior to August 31�`
according to Texas Education Agency's Financial Accountability System Resource Guide,
Section 2.6.2—TEA legal Requirements;and
WHEREAS,the Board of Trustees held a Public Hearing on August I Oth,2016;and
WHEREAS,the Board of Trustees finds that the passage of this Resolution is in the best
interest of the citizens of Westlake as well as the students,their parents,and faculty of Westlake
Academy.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE WESTLAKE ACADEMY:
SECTION 1: That,all matters stated in the recitals hereinabove are found to be true and
correct and are incorporated herein by reference as if copied in their entirety.
SECTION Z: That the Board of Trustees hereby adopts the revised Westlake Academy
Operating Budget for the fiscal year ending August 31, 2016 and the proposed Westlake
Academy Annual Operating Budget for the fiscal year ending August 31, 2017 and appropriates
the funds contained therein attached to this resolution as Exhib it"A':
SECTION 3: That the Board of Trustees hereby adopts the Fiscal and Budgetary
Policies, Investment Policies, and the Committed and Assigned Fund Balance designations that
are also included in Exhibit A.
SECTION 4: That a copy of the official adopted 2016-2017 Budget shall be kept on file
in the office of the Town Secretary.
WA Rewlution 16-16
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Resolution to Adopt the Budget
SECTION 5: If any portion of this resolution shall, for any reason, be declared invalid
by any court of competent jurisdiction,such invalidity shall not affect the remaining provisions
hereof and the Council hereby determines that it would have adopted this Resolution without the
invalid provision.
SEC,TTON G: That this resolution shall become effective from and after its date of
passage.
PASSED AND APPROVED ON THIS 10"'DAY OF AUGUST,2016.
Laura Wheat,President T
ATTEST:
Kell Edward Board Secretary Thomas E. Bryme 10,
perintendent
APPROVE TO
L. ton Low J 5. Bubert,
School Attorney
WA Resolution 16-16
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