HomeMy WebLinkAboutRes 17-12 WA Adopting the Revised Operating Budget for Fiscal Year Ending 17-18 and the Budget for Fiscal Year 17-18 WESTLAKE ACADEMY
RESOLUTION NO. 17-12
A RESOLUTION OF THE BOARD OF TRUSTEES OF WESTLAKE ACADEMY TO
ADOPT THE REVISED OPERATING BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2017 AND THE PROPOSED BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2018 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 31St
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 7th, 2017; 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 amended Westlake Academy
Operating Budget for the fiscal year ending August 31, 2017 and the proposed Westlake
Academy Annual Operating Budget for the fiscal year ending August 31, 2018 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 2017-2018 Budget shall be kept on file
in the office of the Town Secretary.
WA Resolution 17-12
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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 71h DAY OF AUGUST, 2017.
Laura Wheat, President
ATTEST:
Kell Edwards, Board Secretary fhomas E. Brymer, Vintendent
APPROVED AS TO FORM:
C)��Nao���
L. Stan n Lowry or Janet S. Bubert,
School Attorney
WA Resolution 17-12
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Westlake Academy * 2600 Ottinger Road * Westlake, Texas 76262
www.westlakeacademy.org
ENGAGE...EXPLORE...EMPOWER!
is the MATHEMATICS
TECHNOLOGY
SPANISH BIOLOGYENGLISHCHEMISTRYPHYSICSHUMANITIESMUSIC
BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
i
1. INTROUDCTION SECTION
• 1 Mission, Vision, Values - communicate the purpose of
the Academy and is our road map indicating what we
want to become.
• Financial Budget Awards
o 02 ASBO Award Certificate
o 04 GFOA Award Certificate
• 6 Westlake Academy Profile – gives a small glimpse into
the Academy and provides and understanding of the IBO
Programmes.
• 8 Town of Westlake Community Profile - This section
includes statistical and supplemental data that describes
the Town of Westlake and its community. It furnishes a
valuable perspective when reviewing budget issues and
making decisions related to Westlake Academy. The goal
is to provide a context for understanding the decisions
incorporated into the budget document.
2. EXECUTIVE SECTION
• 31 Transmittal Letter - This section is written to the
Board of Trustees by the Superintendent and provides a
high-level preview of the Academy’s budget. It contains
information including fund summaries as well short term
and long-term trends. The letter helps tie together the
core elements which make up the budget and illustrates
how those elements further the Academy’s goals found
within the strategic management system.
• 36 Service Level Adjustments – This chart tracks our cost
increases or decreases as a request for any dollars in
excess
of the baseline/target budget.
• 37 Balanced Scorecard System - The Academy has
adopted a Strategic Management System (SMS) which
drives the way the Town conducts its business. The
department directors contribute to the SMS by developing
a corporate business plan and aligning their yearly budget
proposals to that plan.
• 43 Challenges, Goals, Strategies, initiatives and long term
financial planning
3. BUDGET STRUCTURE
• 47 Best Practices in School budgeting - this section
explains how GFOA has developed a series of Best
Practices in School Budgeting, which clearly outline steps
to developing a budget that best aligns resources with
student achievement goals.
• 51 Budget Overview and Process - This section explains
the meaning behind the numbers which are presented in
this budget document. It gives perspective to the
Academy’s budgeting process, basis of budgeting and
accounting, how the budget is amended and the fund
accounting system.
• 57 Budget Document Structure – explains the budget
document structure required by ASBO for submission for
the Meritorious Budget Award.
• 59 Fund Balance Components - Description of GASB
Statement No. 54 establishing five components of fund
balance.
• Fund/Object/Function Classifications
o 60 Fund Types and Structure
o 62 Account Coding Structure
o 63 Revenue Classifications
o 64 Allocation Formulas
o 65 Expenditure Classifications
o 69 Relationship between Funds and Departments
4. FINANCIAL ANALYSIS
This section gives an analysis of the amounts between the
current year adopted and estimated budget, as well as the
variance explanations between the current year estimated
and next year adopted budget. Several different tables
are presented of all fund revenues, expenditures and fund
balance amounts.
• 73 Financial Forecast Assumptions - The Long-Range
Financial Forecast takes a forward look at the Town’s
revenues and expenditures. Its purpose is to identify
financial trends, shortfalls, and issues so the Town can
proactively address them.
• 74 General Fund Five Year Forecast – a chart depicting 2
years of history, the proposed year, and 4 years of
forecasted revenues and e3xpenditures.
• All Governmental Funds
o 75 Governmental Funds Financial Summary
o 79 Combined Statement
o 80 All Governmental Funds
BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
ii
• General Fund
o 82 General Fund Financial Summary
o 84 Combined Statement
o 86 Combining Statement
o 87 Schedule of Expenditures
o 90 Revenue and Expenditure Comparison
o 91 Transporation/Parking Fund 197
o 92 Athletic Activities Fund 198
o 93 General Fund 199
• Special Revenue Funds
o 94 Special Revenue Funds Financial Summary
o 95 Combined Statement
• 76 Debt Service
• 96 Town of Westlake Bond Rating
• 97 Capital Projects
5. PERSONNEL & PAYROLL
• 101 Personnel and Payroll Overview – 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. The
Academy uses forecasting procedures that result in more
accurate personnel expenditure projections.
• 106 Organizational Chart - a diagram that shows the
structure of the Town of Westlake and Westlake Academy
and the relationships and relative ranks of its positions.
• 108 Board of Trustees - provide appropriate board
oversight of the academic program by ensuring that the
school’s educational program is positively impacting
student achievement and by raising strategic academic
issues for board discussion.
• 109 Leadership Team - Shared Services personnel
between the academic and municipal service teams of the
Town of Westlake.
• 110 Municipal Organizational Structure - The Academy’s
organizational structure is based on research into
management of municipally owned charter schools and
was adopted by the Board in Resolution in December
2009.
• 111 Academic Organizational Structure - The Academy’s
organizational structure is based on research into
management of municipally owned charter schools and
was adopted by the Board in Resolution in December
2009.
6. STUDENT DATA
• IBO Programme
o 115 IB Programme Overview
o 117 IB Learner Profile
o 118 IB Attitudes
o 119 Primary Years Programme
o 122 Middle Years Programme
o 125 Diploma Years Programme
Enrollment Data
o 127 Enrollment Boundaries
o 128 Student Enrollment
• Test/Performance/Benchmark Data
o 129 Benchmark Data
o 132 TEA Education Agency Accountability
• Achievements
o 133 Academic Achievements
o 136 Athletic Achievements
• 138 Parent Survey Results
7. POLICY SECTION
• 130 Academic Policies
o 144 Investment Policy
o 149 Fiscal and Budgetary Policies
o 158 Risk Management
8. APPENDIX SECTION
• 162 Glossary - A glossary is included for any terminology
(including abbreviations and acronyms) related to finance
and accounting, as well as non-financial terms related to
the entity.
• 169 Acronyms – works with the glossary and is a listing of
all abbreviations used within the document.
• 170 Academic Calendar – a calendar showing important
dates within the budgeted school year.
• 171 Resolution to Adopt the Budget – Ordinance to
formally adopt the budget for the next school year.
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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.
M ISSION
“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.”
V ISION
“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.”
~ Inquirers, Knowledgeable, Thinkers, Communicators, Principled,
Open-minded, Caring, Risk-takers, Balanced, and Reflective~
V ALUES
Maximizing Personal Development
Academic Excellence
Respect for Self and Others
Personal Responsibility
Compassion and Understanding
D ESIRED O UTCOMES
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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This Meritorious Budget Award is presented to
WESTLAKE ACADEMY
INTERNATIONAL BACCALAUREATE WORLD SCHOOL
for excellence in the preparation and issuance of its budget
for the Fiscal Year 2016-2017.
The budget adheres to the principles and standards
of ASBO International’s Meritorious Budget Award criteria.
Anthony N. Dragona, Ed.D., RSBA 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
2016-2017 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.
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 the budget's accuracy and transparency
• Developing a reader-friendly document that presents
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;
Marlene Rutledge, Accounting Technician II; Dr. Mechelle Bryson, Executive Director,
and the Academic Leadership Team for preparing this award-winning budget for
Westlake Academy.
3
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.
T o 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.
September 1, 2016
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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, 2017. 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.
5
WESTLAKE ACADEMY PROFILE
Westlake Academy is an Open Enrollment Charter School that opened
September 1, 2003 and offers the full IB
curriculum for grades K-12.
Westlake Academy distinguishes itself among
neighboring educational offerings with a
particular focus on producing students who are
globally minded.
The programs of the International Baccalaureate
Organization (Primary Years Program, Middle
Years Program, Diploma Program) have been
selected as the educational model utilized at the Academy. Educational
technology will be pervasive and will infuse the classroom curriculum.
Westlake Academy is a premier learning establishment and
prides itself on providing a learning environment where
students have the resources and facilities to excel.
The primary geographic service area for Westlake Academy is
the town limits of Westlake; students from other locations
may be considered if seats are available.
Westlake Academy continues to have excellent academic and extra-curricular
results and is ranked among the best high schools in America.
STUDENT UNIFORMS
The Westlake Academy Dress Code specifically outlines school-approved uniform
options for students:
• formal uniforms
• casual uniforms
• acceptable spirit wear
The student uniform standards encourage a productive learning environment in
which students can focus on learning, appreciate an awareness of others without
distractions, develop character and good citizenship skills, instill respect and self-
discipline.
OUR 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:
•Inquirers
•Knowledgeable
•Thinkers
•Communicator
•Principled
•Open-Minded
•Balanced
•Risk-Takers
•Caring
•Reflective
OUR 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.
VALUES
•Maximizing Personal
Development
•Academic
Excellence
•Respect for Self and
Others
•Personal
Responsibility
•Compassion and
Understanding
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WESTLAKE ACADEMY PROFILE
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 2017/2018
House Coordinators are Dawnelle Butler and Maru Busico-Flight.
Keller House
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.
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TOWN OF WESTLAKE COMMUNITY PROFILE
INTRODUCTION
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.
Say “welcome home” to a place familiar to the heart even if you’ve never been here.
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TOWN OF WESTLAKE COMMUNITY PROFILE
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.
The unique location of Westlake is ideal for
many of its major corporate campuses and
residential communities. A common ideal
shared by our corporate and individual
residents is their support of the existing
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
over the years, becoming one of the most desirable and
sought after places to live in America.
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
originated in the 1870’s and got its name from the Lonesome
Dove Baptist Church located in the community.
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TOWN OF WESTLAKE COMMUNITY PROFILE
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 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.
The 1960’s…
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 world.
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TOWN OF WESTLAKE COMMUNITY PROFILE
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
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, were
waged as emotions rose. Ultimately Town
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.
2002 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.
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.
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TOWN OF WESTLAKE COMMUNITY PROFILE
2013 The Town’s open enrollment charter school, Westlake Academy, completed its 10th 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 SH170 and SH114.
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.
12
TOWN OF WESTLAKE COMMUNITY PROFILE
HISTORICAL MARKERS IN WESTLAKE
Westlake is 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 account its past in charting its future. The folk of yesterday are gone
and so is most of the evidence proving they were here. They are
remembered only as long as there are rememberers. When even memories
are gone, there is precious little – an old house here or there, small
cemeteries with headstones askew, historical plaques, old-timey things in
museums, photographs, bits of poetry, recipes and old letters with the
musty smell of time, documents from court house records, words trapped
in newspapers, magazines or books.
WESTLAKE AND THE CROSS TIMBERS
This marker stands next to the loop parking
lot in front of the Westlake Academy on JT
Ottinger Road.
Our history begins in a distinctively unique
geographic region of North Central Texas,
the Cross Timbers. Early explorers and
travelers noticed the area because of the
extended groves of oak trees bordered with stretches of open prairie. As
early as 1832, 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 occasionally, in our wanderings through the Cross Timber. It
was like struggling through forests of cast iron." The Cross Timbers region
extends across parts of Kansas, Oklahoma, and Texas. From a map, it
may be seen that the region runs in irreular vertical lines, a little like icing
running down the 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 wooded
areas broken by stretches of
grasslands. Hence, describing our
home Westlake, Texas."
The rock chimney from the original
Buck King homestead still standing
at Pearson Lane and Aspen Lane.
Pearson Road was known as Buck
King Road. ***
Board members of the
Westlake Historical
Preservation Society
researched eight significant
locations recently
nominated for historical
markers. The Town Council
unanimously approved a
historical marker master
plan at the June 13th 2011
meeting which identified
the sites and place
markers.
The sites are in the heart of
Westlake and on highly
traveled roads. Instead of
going through the State to
receive the designated
plaques, the Town will take
on the project. The Texas
Historical Marker
application process
requires exhaustive
research and
documentation for
potential sites and can take
up two to three years.
13
TOWN OF WESTLAKE COMMUNITY PROFILE
HISTORICAL MARKERS IN WESTLAKE
SHOCKEY-HUFFMAN HOMESTEAD & FAMILY FARM
This homestead is now occupied by Solana Village Plaza and was
established by Isaac Shockey in 1885. The homestead consisted of
multiple wood-frame buildings and a well. This marker stands off
Solana Blvd near Village Center Plaza.
STAR
STAGECOACH ROUTE
The site of an1850s
log cabin on Denton
Highway south of
Stagecoach Hills
Airpark. Later a rock
house was built there
where travelers on
the Denton-Birdville
stagecoach route
stopped for water
collected from
nearby springs.
THE CIRCLE T RANCH
Off State Highway 114,
the 2,300 acres known
as Circle T Ranch was
purchased by J. Glenn
Turner in the 1940s and
1950s.
PAIGEBROOKE FARM
Off Dove Road near Ottinger Road is the site of
the Dealey Home designed by Charles Dilbeck
and built in the late 1930s.
THRASHER
FAMILY HOME
on Dove Road west
of Precinct Line
Road, home of
Henry and Beulah
Thrasher on a 40-
acre tract bought in
POSSUM TROT SCHOOL
This was a one-room
school house from
1890 to 1905 near
Dove and Ottinger
roads, south of
Westlake Academy.
The school had 16 to
20 students ages 8
through 13. This
marker stands at the
southwest corner of
North Pearson and
Dove Road.
TERRA BELLA HOMESTEAD
This site is on Dove Road,
purchased by Ed Noack
in 1965, which became
Terra Bella Estates in 2007.
14
TOWN OF WESTLAKE COMMUNITY PROFILE
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 s taggered 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 Town Council shall conduct regularly scheduled meetings on dates and times as established
by the Town Council. All Mondays shall be established as a day available for regular meetings as
needed. Special meetings shall be called in accordance with Section 22.038(b) of the Texas
Local Governm ent Code. The regular Council meetings shall convene not earlier than 6:30 p.m
Laura Wheat
Mayor
Carol Langdon
Mayor Pro-Tem
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.
15
TOWN OF WESTLAKE COMMUNITY PROFILE
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.
The council-manager form is the system of local government that combines strong political
leadership, representative democracy through elected officials, and professional management.
The form establishes a representative form of government by concentrating all power in the
elected Town council. The council hires a professionally trained and educated Town Manager to
oversee the delivery of public services and the daily operations of the Town. Council Members are
part-time volunteers who serve as the policy making board for the Town's government.
WESTLAKE OPERATIONS
The Town of Westlake employs 137.84 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.
Department Name FY17/18
General Government
• Town Manager 1.00
• Assistant Town Manager 1.00
• Administrative 0.50
• Planning and Development 4.00
• Town Secretary 1.50
• Facilities/Grounds maintenance 1.25
• Municipal Court 4.50
• Finance 4.00
• Payroll/Human Resources 2.00
• Information Technology 2.00
• Public Safety 15.50
• Culture and Recreation 0.50
• Public Works 4.00
• Marketing and Public Affairs 2.00
• Education 93.09
Total Employees 137.84
16
TOWN OF WESTLAKE COMMUNITY PROFILE
GLENWYCK PARK
The park at Glenwyck Farms is 13.5 acres of
open space with a 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!
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 with a unique,
upscale experience. The resort feel of the hotel
is supplemented with fields of Texas wildflowers
and groves of 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 décor 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.
17
TOWN OF WESTLAKE COMMUNITY PROFILE
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.
…DECORATION D AY
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. Activities include
live music, treasure hunts for the kids, and a homemade ice-cream
competition. The event ends at sunset.
M ASTERWORKS C ONCERT S ERIES…
The Masterworks Music Series is a variety of free music programs
sponsored by the Town of Westlake, Cassidy Turley and ARTSNET.
These free concerts are for music lovers of all ages and feature
instrumental and vocal music ranging from Country & Western to
Blues & Jazz with the entertainment of local, regional and national
artists. The concert season begins in April and performances are
held at the Plaza (courtyard) in Solana.
A NNUAL V INTAGE C AR S HOW…
Classic car enthusiasts join together each October at the Solana
Club in Westlake for the Annual Westlake Vintage Car Show. This
event features vintage classic original or restored to original
automobiles, trucks and pickups from 1909 to 1959. Awards
included Best of Show, Best of Class, People's Choice and Town
of Westlake Mayor's Choice.
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.
H OLIDAY C OMMUNITY T REE L IGHTING…
Enjoy an evening of community fellowship as the holiday season
officially begins with the lighting of the Christmas Tree. This free
event includes games & entertainment, cookie decorating,
musical selections by the Westlake Academy Choral Group and
Drama Students, and don’t forget our special visitors from the
North Pole!
18
TOWN OF WESTLAKE COMMUNITY PROFILE
WESTLAKE POPULATION
Tarant County
Unemployment Rate
Source: 2016 Town of Westlake Audit
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
703 785 803 847 992 1063 1109 1184 1200 1270
Population Growth
Average Age Percent
18 – 34 years 4%
35 – 54 years 52%
55 – 74 years 36%
75+ years 8%
Source: 2017 Westlake Citizen Survey
Year Rate
2002 6.10%
2003 6.30%
2004 5.30%
2005 5.10%
2006 4.60%
2007 4.30%
2008 5.10%
2009 8.10%
2010 8.10%
2011 7.90%
2012 6.20%
2013 6.00%
2014 5.00%
2015 4.00%
2016 4.10%
Household Income Percent
Under $50K 6%
$50K - $149K 4%
$150K - $500K 31%
$500K plus 59%
Source: 2017 Westlake Citizen Survey
Years Lived in Westlake Percent
5 years or less 49%
6 to 10 years 23%
11 to 15 years 15%
16 years plus 13%
Source: 2017 Westlake Citizen Survey
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.
84% of
residents rate
the Town of
Westlake as
an excellent
place to live!
19
TOWN OF WESTLAKE COMMUNITY PROFILE
DEMOGRAPHIC AND ECONOMIC STATUS
Source: 2016 Town of Westlake Audit
Calendar
Year
Estimated
Population
Personal
Income
Per Capita
Personal
Income
2002 289 $ 13,715,216 $ 47,457
2003 303 15,242,398 50,305
2004 328 41,027,552 125,084
2005 355 45,292,916 127,586
2006 698 90,835,901 130,137
2007 703 93,316,319 132,740
2008 785 115,891,905 147,633
2009 803 120,920,285 150,586
2010 847 102,852,057 121,431
2011 992 26,678,400 127,700
2012 1,063 138,423,531 130,254
2013 1,109 147,292,890 132,859
2014 1,150 160,462,095 135,516
2015 1,200 165,871,904 138,227
2016 1,270 179,058,721 140,991
Tarrant County, Community College,
Hospital & School Taxes -2016 (Combined)
•Carroll ISD - $2.0166
•Keller ISD - $2.1466
•Northwest ISD - $2.0791
Denton County and School Taxes
2016 (Combined)
•Northwest ISD - $1.7009
Major Developments & Planned Developments
•Deloitte University
•Fidelity Investments North Texas Campus
•Solana Corporate Campus
•Westlake Corners - at SH 377/SH 170 intersection
•Entrada - an 85 acre mixed-use development
•Quail Hollow and Carlyle Court
•Granada Phase I and II
•Charles Schwab regional headquarters
LOCATION
•Northeast Tarrant County
•7 square miles
(approximate)
•12 miles west of Dallas-
Fort Worth International
Airport
•7 miles east of Fort Worth
Alliance Airport
•Elevation 574 feet
CLIMATE
•Days of sunshine: 137
•Mean winter
temperature: 54 F
•Mean summer
temperature: 92 F
•Mean annual
precipitation: 33.7 inches
•Mean annual snowfall:
3.1 inches
20
TOWN OF WESTLAKE COMMUNITY PROFILE
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 (22% of residents live here)
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.
MAHOTEA BOONE (3% of residents live here) - 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 (4% of residents live here) - A 28 lot, 54.7
acre, gated subdivision with a 22.6 acre open space
and nature preserve featuring a hike and bike trail. As
Westlake’s newest subdivision, the first house was
permitted for construction in August 2009. Terra Bella is
accessible from Dove Road and Sam School Road, on
the eastern border of Westlake.
VAQUERO ESTATES (53% of residents liver here)
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
with shimmering ponds and countless groves of majestic
oaks. This subdivision offers the highest quality in
home design and construction.
21
TOWN OF WESTLAKE COMMUNITY PROFILE
RESIDENTIAL SUBDIVISIONS
STAGECOACH HILLS (12% of residents live here)
In this 30-house subdivision, airplanes are
almost as common as cars. The subdivision's
name comes from its location on an old
stagecoach trail from Keller to Denton.
GRANADA (under construction)
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
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.
CARLYLE COURT (under construction)
Our new Carlyle Court developm ent will offer only 8
gated estate lots, each one being 1-1.5 acre homesites.
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!
QUAIL HOLLOW (under construction)
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.
22
TOWN OF WESTLAKE COMMUNITY PROFILE
WHAT’S SPECIAL
Westlake’s Entrada
project is taking shape
with a 135-room Hyatt
Place Hotel, a Primrose
School, a Starbucks and a
CVS Pharmacy all
confirmed for the 85-acre
project.
Entrada also will have 300
residential units, including
200 single family villas, 70
to 80 townhomes and 40
to 50 condominiums.
Several luxury retailers are
anticipated for the
project. The 161,000-
square-foot Hyatt will
have a 15,000-square-foot
conference room for
special events.
The centerpiece will be a
lake with a fountain
feature that harkens back
to a village on the Spanish
coastline. The project also
includes an outdoor
amphitheater and trails
that connect to the rest of
Westlake’s network. The
buildings will have small
setbacks, echoing the
European-inspired design.
ENTRADA COMMERICAL DEVELOPMENT
You and your family will especially appreciate the mixed-
use approach that will make all your favorite spots
convenient and easy to access.
The architecture will emulate the Catalonia region of
northeastern Spain with a blend of rich Texas-Spanish
Mission style and a community design to create a
European village type environment. The red tile roofs are
planned to quickly let you
know you’re not in a cookie
cutter rehashed development.
Carefully planned to provide
residents with an enviable
lifestyle, the $500 million
project uses the latest trends in
lifestyle planning to provide a
combination of office,
hospitality, entertainment, and
single-family housing, including a
selection of detached homes,
townhomes, condominiums,
and villas.
This development has attracted some of the nation’s most
respected builders of luxury homes and, when completed,
will set a standard for both architectural design and luxury
living in the North Texas area.
23
TOWN OF WESTLAKE COMMUNITY PROFILE
ADVANTAGES OF DOING BUSINESS IN WESTLAKE
Strategically Located
•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.
•The unique location of Westlake is ideal for many of its major corporate campuses and
residential communities.
•Westlake’s proximity to major highways as well as area airports further enhances its appeal as a
corporate office location.
•Westlake is 12 miles to the west of DFW Airport and 7 miles to the east of Alliance Airport.
•Traffic counts on Highway 114 adjacent to the city are presently around 70,000 cars per day.
•Those counts may reach as high as 100,000 per day when TxDOT completes all renovations of
Highway 114 from Roanoke to I-35 at the raceway.
High Standards
•Gold level Scenic City Designation for high
aesthetic and open space standards.
•The Town of Westlake has twice been named
the most affluent community in America by
Forbes Magazine.
•Town support for economic development
incentives.
•Flexible high development standards to
accommodate logical development.
Hwy 114 Corridor West Region
Population & Demographics
•This region includes a population of over
151,000 people with the following
characteristics.
•Family Oriented: Avg. of 2.89 people per
household.
•Well Educated: 47.3% of those over 25 years of
age have a bachelors degree or higher.
•Young at heart: Avg. age of 37 years old
•Total Households: 67,598
•Average Household Income: $91,972 / year.
Regional Advantages
•Adjacent to the Alliance Airport
area which is home to over 60
Fortune 500 companies.
•Lower cost of living – 7% below the
national average.
•No corporate sales tax in the state
of Texas.
•Affordable housing – Prices 20%
below the national average.
•Strong workforce throughout DFW
Metroplex.
•Dallas-Fort Worth-Arlington
Metropolitan Statistical Area ranked
4th largest population center in
United States (Source: US Census
Bureau)
•Civilian labor force of 3 million in
Greater DFW.
•Superb access to seven major
highways and Dallas/Fort Worth
International Airport.
•Location midway between Alliance
Airport and Dallas Love Field.
•Low local property tax rate.
•Central location within the
Metroplex.
•Excellent choice and availability of
office and retail space.
24
TOWN OF WESTLAKE COMMUNITY PROFILE
WESTLAKE EMPLOYERS
Source: 2016 Town of Westlake Audit
COMPANY NAME COUNT PERCENT
Fidelity Investments 5,864 49.1%
Core Logic 1,790 15.0%
Travelocity 880 7.4%
Wells Fargo 617 5.2%
Sabre 500 4.2%
Deloitte 486 4.1%
Verizon Wireless (ALL) 446 3.7%
First American Title 262 2.2%
Sount Physicians 173 1.4%
Marriott Solana Hotel 143 1.2%
Vaquero Country Club 135 1.1%
Westlake Academy 95 0.8%
Levi Strauss 70 0.6%
Solera 68 0.6%
Solana Club/Larry North 57 0.5%
Town of Westlake 42 0.4%
Image Engineering Group LTD 40 0.3%
Marsh & McLennan Companies 35 0.3%
Western & Southern Life Insurance 31 0.3%
Midwest Hospitality, LLC 20 0.2%
Mar-Cosina Tex Mex 20 0.2%
All Other Employers 179 1.5%
Fidelity Investments 5,864 49.1%
Core Logic 1,790 15.0%
TOTAL 11,953 100%
Fidelity
Investments
5,864
49%Core Logic
1,790
15%
Travelocity,
880 , 7%
All Others
3,419
29%
The DFW Metro area is home to
more Fortune 500 companies than
any other area in the United
States.
Several major employers are
located within the Town of
Westlake.
Solana Business Park, including a
premium Marriott Hotel, stands as
the area’s premier corporate
development offering tenants a
customizable site-specific
partnership.
Fidelity Investments created a
stunning 300-acre campus that is
a user-friendly environment. It fits
into and even enhances the
area’s natural surroundings and
abounds with native trees, grasses
and flowers.
Deloitte University operates their
$160 million dollar, 160 acre,
international training facility. The
facility features over 800 rooms,
office space, conference centers,
amenity centers, as well as many
parks, trails, and water features.
This development represents
another step towards Westlake’s
goal to become an education-
centered community.
25
TOWN OF WESTLAKE COMMUNITY PROFILE
SALES AND USE TAX RATE
Many people don’t know that most
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
government code.
4B Economic Development Fund – This fund utilizes the revenues generated from a ½ 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 ½ % 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
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.
$591
$710
$796
$872 $822 $837 $845
2012 2013 2014 2015 2016 2017 2018
Hotel Occupancy Tax
(show in thousands)
$3.66
$4.38
$4.73 $4.93
$4.61 $4.55
$4.95
2012 2013 2014 2015 2016 2017 2018
General Sales and Use Tax
(show in millions)
26
TOWN OF WESTLAKE COMMUNITY PROFILE
0.00
0.10
0.20
0.30
0.40
0.50
0.13615
Ad Valorem Tax Comparison per $100
Trophy Club
Southlake
Keller
Roanoke
Grapevine
Haslet
Westlake
PROPERTY TAX
The Town of Westlake instituted a property tax in 2010.
Effective Tax Rate is the total tax rate calculated
to raise the same amount of property tax revenue
from the same properties.
Homestead Exemptions
The Westlake Town Council approved a homestead
exemption of 20%, which is the maximum amount
allowed by the State of Texas.
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.
Jurisdictions - The Town
of Westlake contracts with
the Tarrant County Tax
Assessor Collector’s Office
to collect the Town’s
portion of local property
tax.
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
Top Ten Principal
Property Tax Payers
Total
Assessed
Value
BRE Solana LLC $123,689,077
FMR Texas, LLC/LTD
Partnership
77,129,554
Dallas MTA LP 49,822,886
DCLI LLC 46,697,787
HMC Solana 39,844,325
Maguire Partners-Solana 17,562,432
Lexington TNI Westlake LP 17,012,143
Marsh USA Inc 11,763,580
Fidelity Investments Inc 9,482,577
Prince Whipple Trust 6,979,984
TOTAL $399,984,345
The calculated effective rate
for FY2017/2018
will decrease by .00080
for a tax rate of $.13615
Currently $.13695
27
TOWN OF WESTLAKE COMMUNITY PROFILE
STANDARD
& POOR’S
RATING SERVICES
In Janaury 2017, Standard & Poor's Ratings Services has recently increased the Town's
rating from AA+/stable to AAA. S&P Global Ratings views the outlook for this rating as
stable. The upgrade reflects their assessment of the town's historically very strong finances
and implementation of a property tax levy, which has further strengthened finances and
lessened the operating fund's reliance on the somewhat volatile sales tax revenue stream.
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 RATE
Source: 2016 Town of Westlake Audit
2012 2013 2014 2015 2016
TOWN DIRECT RATES
Ad Valorem Property Tax
General Fund 0.13835 0.14197 0.13888 0.13710 0.13710
Debt Service Fund 0.01849 0.01487 0.01796 0.01924 0.01924
SUB-TOTAL DIRECT 0.15684 0.15684 0.15684 0.15634 0.15634
OVERLAPPING RATES
School Districts
Carroll ISD 1.41500 1.40000 1.40000 1.40000 1.40000
Northwest ISD 1.37500 1.37500 1.45250 1.45250 1.45250
Keller ISD 1.54000 1.54000 1.54000 1.54000 1.54000
Counties
Denton County 0.27736 0.28287 0.28491 0.27220 0.27220
Tarrant County 0.26400 0.26400 0.26400 0.26400 0.26400
Other
Tarrant College 0.14897 0.14897 0.14950 0.14950 0.14950
Tarrant Hospital 0.22790 0.22790 0.22790 0.22790 0.22790
Trophy Club Mud #1 0.17500 0.13339 0.13339 0.13339 0.13339
SUB-TOTAL INDIRECT 5.42323 5.37213 5.45220 5.43949 5.43949
TOTAL 5.58007 5.52897 5.60904 5.59583 5.59583
The rating reflects their opinion of the town's:
•Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA) but a concentrated local tax base
•Strong management, with good financial policies and practices under our Financial Management Assessment methodology
•Strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level
•Very strong budgetary flexibility, with a high available fund balance of 100% of operating expenditures
•Very strong liquidity, with total government available cash at 81.7% of total governmental fund expenditures and 7.4x
governmental debt service, and access to external liquidity that we consider strong
•Strong institutional framework score
28
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30
August 7, 2017
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 2017/18.
On behalf of our entire learning community, I would like to thank the Board for their leadership, dedication
to excellence, and 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 educational
success can happen!
I. INTRODUCTION
Westlake Academy has faced several challenges and opportunities over the last several years, including
decreased state funding, increasing rigor in state assessments, recruitment and retention of legacy teacher
issues, space constrictions and subsequent facility expansion, and unprecedented growth within our student
population. 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. Keeping this in
mind, we present this year’s budget theme, “I=E3: Inquiry is the Solution … Engage … Explore … Empower!”
A public school operating budget is legally required to include the Academy’s General, Debt Service, and
Food Service Funds. Because the Academy does not maintain the latter two funds, the General Fund is the
only legally adopted fund. For informational purposes only, budgets for Special Revenue Funds are
included throughout the presentation.
G ENERAL F UND B UDGET S UMMARY
Amended
FY 2016/17
Proposed
FY 2017/18
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,227,963 $ 8,584,100 $ 356,137 4%
Total Expenditures 8,360,471 8,322,199 (38,272) -0.458%
Other Resources 117,090 60,000 (57,090) -100%
Other Uses (60,000) (60,000)
Excess Revenues Over(Under) Expenditures (75,418) 261,901 337,319 -447%
FUND BALANCE BEGINNING 1,071,036 995,618 (75,418) -7%
FUND BALANCE ENDING 995,618 1,257,519 261,901 26%
Assigned 48,090 39,090 (9,000) -19%
FUND BALANCE ENDING (Unassigned) $ 947,528 $ 1,218,429 $ 270,901 29%
# Days Operating (Based on 365) 41 53 13 29%
Daily Operating Expenditure 22,905 22,801 $ 105 0%
Students Enrolled 830 856 26 3%
TEA Funding per Student $ 7,382 $ 7,646 $ 264 4%
Operating Cost per Student $ 10,073 $ 9,722 $ ( 351) -3%
Teachers 66 66 0.04 0%
Student/Teacher Ratio 13 13 0.39 3%
31
II. THE CHALLENGES
The Town of Westlake, and therefore Westlake Academy, finds itself in one of DFW’s most desirable
executive housing corridors - located along State Highway 114. Growth associated with the area necessitates
that we not only understand and deal with the associated changes, but also understand the impact the
future growth presents. As our state charter is held by the municipality, any challenge or opportunity
experienced by the community as a whole also affects the Academy. The most pressing challenges are:
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 2016’s population of 1,264 represents an increase of 583% equal to 1,079 additional residents. We
will continue to monitor and plan for increases in these numbers considering our Comprehensive Plan’s
(Forging Westlake) forecast of approximately 7.21% annual population growth between now and 2040. This
would bring us to around 7,000 residents.
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 a
strong motivator for our residents to locate in Westlake, and one of the top three (3) reasons why they plan
to remain in our community. For example, the 2017 municipal services survey results indicate 75% of the
new residents say enrollment at Westlake Academy was extremely important/important to their decision to
live in the community. With the majority of those residents then listing this as the number one (1) reason
they will remain in Westlake over the next five (5) years.
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 856 in SY 2017-18. 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 on campus 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 over
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. And, in the Legislature’s
most recent 2017 session, the per student funding for public education was not increased for the next
biennium. This negatively impacts Westlake since, as a charter school, we receive approximately 80% of our
operational funding from the State. The municipal government continues to allocate significant resources to
the school to deal with State funding limitations, maintain high quality educational services, provide for the
Academy’s facilities and support services, as well as preserve space for the children of Westlake residents.
32
Additionally, the Westlake Academy Foundation (WAF) raises significant operating funds for the Academy,
without which the school could not operate.
STAFFING LEVELS, INSURANCE COSTS, AND RETENTION:
Our investment in the school must be facilitated in tandem with staffing considerations to maintain our
dynamic teaching teams, and be competitive with our surrounding school districts. This includes keeping our
compensation/benefit package competitive to attract and retain excellent employees. For the 2017/2018
budget year, in accordance with the Boards financial policies regarding Academy employee compensation,
Staff recommends an average 2% salary increase for the Academy faculty and staff. This is in addition to
maximizing efficiencies and processes that will control 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 prepared. Staff will also continue to produce
quarterly financial reports 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.
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 also
forecasted to be 69%. This regional growth will impact Westlake and the demand for enrollment
opportunities at the school.
III. SHARED SERVICE MODEL
The Academy operates under a shared services model whereby the municipal operations team provides
support services to the school. General maintenance and replacement of infrastructure and equipment for
the school is also expensed to the municipal budget.
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
33
The shared services model was an integral part of the state charter application process that helped bolster
the Town’s case for having a community school. This model conserves resources and avoids the duplication
of efforts across the municipal and academic functions.
DEBT SERVICE
As part of the Academy’s unique financial structure the Town of Westlake is responsible for debt service
payments associated with the 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.
CAPITAL PROJECTS
Note that there are no major capital projects budgeted or planned through FY 18/19, and there are no future
Academy capital projects discussed in the Town of Westlake’s Capital Improvement Plan. However, retaining
professional expertise to update the Academy’s master facility plan will be discussed with the Council in the
near future.
MUNICIPAL ALLOCATIONS
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Municipal-Transfer to WA Operating Budget $ 315,000 $ 315,000 $ - 0.00%
Annual Debt Service (Municipal budget) 1,874,385 1,869,870 (4,515) -0.24%
Major Maintenance and Replacement 279,565 200,000 (79,565) -28.46%
In-direct Operating Costs 674,130 727,659 53,529 7.94%
Total Municipal Costs $ 3,143,080 $ 3,112,529 $ (30,551) -0.97%
IV. FY17 /18 GENERAL FUND BUDGET
This budget encompasses all teaching and extra-/co-curricular operating expenditures as well as State public
school funding and private donations used to support the daily operations of Westlake Academy. The FY
17/18 General Fund budget totals $8,322,199, which represents a 0.46% decrease from the prior year.
It is important to note that $39,090 was earmarked in the Academy’s fund balance for Athletic uniform and
equipment replacement and bus maintenance, as well as additional days for the staff during August. As such,
the 2017/2018 projections increased fund balance by $270,901 for an ending total of $1,219,857 (54
operating days).
As mentioned previously, Westlake Academy’s enrollment increase has been driven by the growth of
residential developments and housing opportunities within the Town of Westlake. This trend will continue
with the addition of another housing development and new homes that are currently under construction.
With the estimated increase of 26 students, total enrollment will rise to a projected 856 this school
year. This will be the Academy’s largest student enrollment census to date, exceeding the projections in the
school’s Facility Master Plan adopted in November of 2012.
34
With this trend of growth in the Academy’s resident (primary boundary) student population, a corresponding
trend will likely be that overall lottery enrollment opportunities for secondary boundary students will
decline. Growth will be monitored and managed until financial resources become available and the Board of
Trustees reviews and approves any update to the Facility Master Plan.
COMBINED: GENERAL FUND ACADEMIC AND MUNICIPAL SERVICES
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Operating Expenditures $ 8,045,471 $ 8,007,199 $ (38,272) -0.48%
Municipal-Transfer to WA Operating Budget 315,000 315,000 0.00%
Total Academic Costs 8,360,471 8,322,199 (38,272) -0.46%
Annual Debt Service (Municipal budget) 1,874,385 1,869,870 (4,515) -0.24%
Major Maintenance and Replacement 279,565 200,000 (79,565) -28.46%
In-direct Operating Costs 674,130 727,659 53,529 7.94%
Total Municipal Costs 2,828,080 2,797,529 (30,551) -1.08%
TOTAL EXPENDITURE COSTS $ 11,188,551 $ 11,119,728 $ (68,823) -0.62%
Number of Students 830 856 26 3.13%
Total Expenditure Cost per Student $ 13,480 $ 12,990 $ (490) -3.63%
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”, ensuring 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 of Westlake, the Westlake Academy Foundation, and our affiliate groups.
As with all good teams, it becomes necessary to draw attention to individual performers and teams who go
above and beyond to help us 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 teams we have in
place, we will continue to “build a collective legacy of excellence.”
Thomas E. Brymer
Town Manager/Superintendent Westlake Academy
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.”
35
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 ( )
represent a decrease in expenditures.
For FY 2017-2018 academic staff recommends the following adjustments:
61XX SALARY AND RELATED EXPENDITURES $ (10 ,850)
Balanced Scorecard Perspective: People, Facilities, & Technology
Outcome Objective: Attract, Recruit, Retain, & Develop the Highest Quality Workforce
Due to changes in administration and the realignment of faculty positions maximizing
current available efficiencies, there is an overall decrease in salaries and related
expenditures, reducing the FY 2017/18 FTEs by 1.96. Faculty and staff will receive a
2.0% increase, which will keep the salary scale within 2.5% of surrounding school
districts and remain consistent with previous years.
62XX PROFESSIONAL AND CONTRACTED SERVICES $ 1 8 ,609
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 amount
reflects an increase in the cost for services to maintain the facilities, as well as
increased costs required to change the Strings Program from in-house instruction to
contract.
63XX SUPPLIES AND MATERIALS $ 4,631
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 $ (15,289)
Balanced Scorecard Perspective: People, Facilities, & Technology
Outcome Objective: Increase the Capacity of Teachers & Staff
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 and increase
process efficiencies.
65XX DEBT SERVICE COSTS $ (91,070)
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. The FY 16/17 amount of $257,238 included the payoff for the
original iPad lease, creating a decreased expenditure for FY 17/18.
36
STRATEGIC PLANNING & MANAGEMENT SYSTEM
The Academy has designed a strategic planning and performance management system 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 this methodology to
implement and review our existing strategic framework, along
with the vision, mission, 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.
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…”
37
STRATEGIC PLANNING & MANAGEMENT SYSTEM
The graphic to the left illustrates the Balanced
Scorecard approach and the following pages
of this section demonstrate how Westlake
Academy has aligned with this framework.
Each element is critical to the success of the
municipality and helps us evaluate and
communicate our performance.
Upon review of the existing strategic initiatives
and performance measures, the Board
provided feedback to the staff and requested
an updated version for review. Staff updated
the framework to include all the related
performance measures and identified the
strategic initiatives that will be goals for the
entire organization this coming school year.
MISSION
The mission statement describes what must
be done to achieve the adopted vision. The
Board of Trustees has adopted the following
Mission statement for Westlake Academy.
VISION
The Academy’s vision statement outlines what we strive to be.
Upholding such a statement is a task that requires effort on
multiple levels. The balanced scorecard system will help ensure
the Vision of the Academy remains true in years to come.
IB LEARNER PROFILE
The International Baccalaureate® (IB) learner profile describes a broad
range of human capacities and responsibilities that go beyond
academic success. 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.
Inquirer Caring
Knowledgeable Balanced
Open-Minded Reflective
Principled Communicators
Thinkers Risk-takers
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.
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.
38
STRATEGIC PLANNING & MANAGEMENT SYSTEM
VALUES
Driving how the Academy accomplishes its work are our
corporate values. These are the principles we hold
important and standards by which the Academy operates.
These values, as adopted by the Board of Trustees, are
designed to guide staff in their day to day work and the
Board as it conducts its business.
STRATEGIC PERSPECTIVES
A Perspective is a view of the Academy operations from a specific vantage point. Four basic perspectives are
traditionally used to encompass a Balanced Scorecard organization’s activity – people & facilities, operational
efficiency, financial stewardship, and customer service. The Academy’s business model, which encompasses
vision, mission, and strategy, utilizes the four Perspectives as a framework. The four perspectives of the plan,
which were customized by the Board, are as follows:
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
goal for “Exemplary Education” that will encompass the direction for the Academy.
The Town Council (Board of Trustees) 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.
Staff then created strategy maps, identified a strategic result, populated the maps
with strategic objectives and created an objective commentary document. These
were then evaluated against the direction of the community and sets the framework
for a comprehensive Tier One map for the municipal program of services. The Town
Council has worked closely with staff to adopt a management system based on the
Balanced Scorecard framework. This was developed to help the Academy direct its own destiny rather than
allow future events to do so. Through sound business principles the Academy can more effectively provide
services to their stakeholders, 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.
Maximizing Personal Development
Academic Excellence
Respect for Self and Others
Personal Responsibility
Compassion and Understanding
STRATEGIC PERSPECTIVES
Citizens, Students,
& Stakeholders
Financial
Stewardship
Academic
Operations
People, Facilities,
& Technologies
Viewed through the
eyes of our customers
and stakeholders
Financial oversight;
effective use
of resources
Focuses on processes that
create value for the
customers and stakeholders
Involves, work culture, innovation,
leadership, governance, tools and
technology necessary to provide services
Exemplary
Education
Westlake is an
international
educational
leader where
each individual’s
potential
is maximized.
39
STRATEGIC PLANNING & MANAGEMENT SYSTEM
OBJECTIVES AND PERFORMANCE MEASURES
Performance measures hold government departments accountable to their stakeholders, while allowing
them to recognize their successes and adjust programs of service that are under performing. Performance
measures are determined according to the strategic objectives found on the Strategy Map and help to align
the goals for the department.
PERSPECTIVES OBJECTIVES PERFORMANCE MEASURES
CITIZENS,
STUDENTS,
AND
STAKEHOLDERS
• Increase the Future
Readiness of All Students
°° Percentage of students who enrolled into college
°° Percentage of students who were accepted into college
°° Length of time students take to earn college degrees
• Increase Stakeholder
Satisfaction
°° Rate of retention for students (start/quit or K thru 12)
°° Re-authorization attainment for PYP, MYP and DP
°° Parents Survey Satisfaction Results (Confidence Level)
°° National Rankings (TEA Performance Index)
• Enhance Westlake Academy’s
Unique Sense of Place
°° Volunteer Hours
°° Percentage of staff with international experience
°° Percentage of students involved in club/activity through WA
°° Percentage of graduations wo attend / send regrets for diploma ceremony
FINANCIAL
STEWARDSHIP
• Increase External Revenues
Sources
°° Number of external grant applications submitted
°° Percentage of external grants received/given
°° Percentage of income/gifts from new sources
°° Number of days in Fund Balance
°° Number of corporate volunteer experiences
• Improve Financial
Stewardship
°° Percentage of audits with unmodified opinion
°° Quarterly financial report data (measure?)
°° Awards from GFOA and ASBO and Texas Comptroller
ACADEMIC
OPERATIONS
• Optimize Student Potential
°° STAAR, SAT, ACT, AP, DP IB exam results
°° Teacher Appraisals / Reviews
°° Student & Staff Annual Survey
°° Student to Teacher Ratios
• Improve Efficiencies of
Operational Systems
°° Programs aligned with mission, vision, IBO & state standards (measure?)
°° Per Pupil Expenditure Costs
• Strengthen our Westlake
Academy Culture
°° Parent Survey Results (listed above in Stakeholder Satisfaction)
°° Exit Survey – Leavers
°° Lottery Waiting lists – internal/external
°° Annual Feedback – Appraisal System
°° Percentage of parents who attend school hosted meetings
• Strengthen IB Philosophy and
Implementation
°° Rubric results of PYP Exhibition, MYP Personal Project, & DP Extended Essay
°° Results of IB Programme evaluations
PEOPLE,
FACILITIES,
AND
TECHNOLOGIES
• Attract, Recruit, Retain &
Develop the Highest Quality
Workforce
°° Time to fill positions / turnover rate (Tier One)
°° Offer to acceptance ratio (Tier One)
°° Number of training opportunities per year
°° Employee satisfaction results
• Increase the Capacity of
Teachers and Staff
°° Teacher & Administration Feedback
°° Staff Survey (linked from above objective)
• Improve Technology,
Facilities & Equipment
°° Annual number of devices available to students / staff
°° School Dude requests for service / time to completion
°° Number of staff members/students supported through IT / per IT staff allocations
40
STRATEGIC PLANNING & MANAGEMENT SYSTEM
These performance measures also help determine the quantity and quality of our work, as identified in our
plans. We consistently evaluate our work and review our performance quarterly because we firmly believe
what gets measured gets done. As we improve our ability to gather and mine data about our work, we will be
able to expand our performance measures to the departmental business plans as a gauge of success. The
departmental efficiency and effectiveness measures along with the outcome based measures will be grouped
with the appropriate strategic objective to give an overall picture of the Academy’s performance. As the
Academy continues to develop these scorecards and measurement units, data sources, and targets will be
refined. Through quarterly performance reviews, trends are also tracked over time through budget
documents.
STRATEGIC INITIATIVES
Research feasibility to create a facilities master plan
Outdoor learning center
Create opportunities for students & teachers to expand their international mindedness by extending learning
beyond the classroom walls
Implement new student/family orientation program to enculturate student/families into WA’s culture of success
Integrate a balance of assessments including high-quality standardized testing along with effective classroom
formative and summative assessments
Elevate the WA House System presence on campus through authentic learning experiences and through the
Learner Profile
Establish and “Angel Fund” designed to support need-based students for international travel & field trips
Create a new teacher mentoring program designed to support & develop teachers pedagogical expertise
Integrate technology into the teaching & learning in a seamless and organic design that promotes the 4 C’s
(creativity, critical thinking, collaboration, communication) of 21st century learning
WESTLAKE ACADEMY’S DESIRED OUTCOMES
Five desired outcomes have been identified and linked to the Academy’s strategic planning efforts:
High
Student
Achievement
Develop inquiring, knowledgeable, caring and
disciplined young people who use their unique
talents to create a better and more peaceful
world through intercultural understanding and
respect.
Strong Parent
and Community
Connections
To involve all stakeholders in building a better
Westlake Academy community.
Financial
Stewardship and
Sustainability
To ensure sufficient, well-managed resources
to support and advance the mission of
Westlake Academy.
Student
Engagement and
Extracurricular
Activities
To ensure that all athletics, community service
and extracurricular activities are held to the
same standard of excellence as the curricula
programs to promote well-balanced students.
Effective
Educators
and Staff
Recruit, develop and retain a core faculty and
staff with the personal qualities, skills and
expertise to work effectively with the IB
inquiry-based, student-centered curricula.
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
•considers economic and
demographic trends
•formulates long-range goals
•plans for future challenges
•develops comprehensive
guidelines that ensure student
success.
41
STRATEGIC PLANNING & MANAGEMENT SYSTEM
WESTLAKE ACADEMY – TIER TWO STRATEGY MAP
A Tier Two Strategy Map is cascaded from the Tier One map that is developed by the elected officials. The
Board of Trustees worked with staff teams to identify the strategic objectives that are important to our
overall success and service provision levels for the stakeholders of the Academy. The Tier One map is drafted
at the municipal level of the organization and then cascaded to the educational department of the school.
This ensures alignment with our values and vision throughout the Town.
PARENT SURVEY RESULTS
In addition to monitoring these performance measures, the Academy also values the opinion of its parents.
Every two years Westlake undertakes a broad stakeholder survey designed to measure academic
performance and to gauge the current and future needs of the students. This survey is an incredibly useful
tool within the strategic management system, and it allows Academy services to be tailored based upon
parent feedback. Westlake’s performance measures are dynamic and undergo on-going review.
42
CHALLENGES
As a charter school owned by a municipality, Westlake Academy has some unique challenges. These
challenges drive and shape the budget process. The most pressing driver is the task of balancing the projected
enrollment of Westlake residents; while maintaining an Academy enrollment level that generated a revenue
stream that can sustain the school. It is important to note that the only requirement for admittance into the
Academy is based upon student residency. Westlake Academy admits students from two distinct geographic
areas called primary and secondary boundaries:
• PRIMARY boundary: concurrent with geographic boundary of the Town of Westlake
• SECONDARY boundary: adopted by the Board of Trustees and approved by the Texas Education Agency
in June 2008 and include identified Independent School Districts who are admitted through a lottery
system.
The Town of Westlake is currently experiencing high growth and development. Many of these new residents
have moved to the Town of Westlake so that their children can attend Westlake Academy without having to
experience the variable of the lottery system. As such, there is an expectation that space is available
throughout the school year for the children of Westlake residents.
Reference GFOA Criterion 4.D.1: The Challenges
GOALS, STRATEGIES, INITIATIVES AND
LONG TERM FINANCIAL SUSTAINABILITY
Overall, Westlake Academy utilizes the balanced scorecard (BSC) approach to strategic planning and
management. It is used to:
• Communicate what we are trying to accomplish
• Align the day-to-day work that everyone is doing with strategy
• Prioritize projects, products and services
• Measure and monitor progress towards strategic targets.
The BSC approach connects the dots between big picture strategy elements such as mission, vision and values
to the Academy’s actions and focus priorities. This approach leads to long term sustainability.
R eference GFOA Criterion 4.D.2: Goals
R eference GFOA Criterion 4.D.3: Strategies and Initiatives
R eference GFOA Criterion 4.D.5: Long-Term Financial Sustainability
43
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44
45
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46
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
GFOA has developed a series of Best Practices in School Budgeting, which clearly outline steps to
developing a budget that best aligns
resources with student achievement
goals. This document summarizes the
key themes from those Best Practices
which are available at www.gfoa.org.
The budgeting process presented in
these Best Practices is focused on
optimizing student achievement within
available resources. It encompasses a
complete cycle for long-term financial
planning and budgeting, including
planning and preparing to undertake
the budget process, developing a
budget, evaluating how the budget
process worked, and adjusting
accordingly. Within this cycle, the
district’s instructional priorities
provide a guide for decision-making.
STEP 1. PLAN AND PREPARE
The planning and budgeting process begins with mobilizing key stakeholders, gathering information on
academic performance and cost structure, and establishing principles and policies to guide the budget
process.
AA.. Establish a partnership between the finance and instructional leaders. A collaborative process
increases the likelihood that the decisions made will be supported after the budget process is over.
BB.. Develop principles and policies to guide the budget process. Budget principles and policies
formalize standards and fundamental values that should govern the budgeting process.
CC.. Analyze current levels of student learning. The current state of academic performance must be
assessed to determine what course of action to take.
DD.. Identify communications strategy. The budget process should include a plan to inform participants,
stakeholders, and the general public about how the budget process works, why each decision was
made and how to provide input in the process.
47
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
STEP 2. SET INSTRUCTIONAL PRIORITIES
The budget needs to be rooted in the priorities of the district. Intentionally created instructional priorities
provide a strong basis for developing a district’s budget and strategic financial plan, as well as presenting a
budget document.
AA.. Develop goals. Goals should be thoughtfully developed and structured to be specific, measurable,
and reasonable to provide a strong foundation for the budget process.
BB.. Identify root cause of gap between goal and current state. By finding root causes of problems, a
district can identify the most effective solutions to achieving its goals.
CC.. Research & develop potential instructional priorities. The district’s instructional priorities should
be informed by practices proven by research and be limited in number to focus on items critical to
optimizing performance.
DD.. Evaluate choices amongst instructional priorities. A district needs to weigh its different options for
achieving its goals against one another to focus on those with the greatest potential for student
achievement impact.
STEP 3. PAY FOR PRIORITIES
Current resources and expenditures must be thoroughly analyzed to find the capacity to pay for top
instructional priorities.
AA.. Apply cost analysis to the budget process. A cost analysis and staffing analysis are essential to
identifying how the district might allocate its limited resources.
BB.. Evaluate & prioritize use of resources to enact the instructional priorities. Instructional priorities
need to be thoroughly quantified as a first step to determining how much money is needed to
implement the priorities and where that money will come from. Trade-offs need to be weighed to
examine whether the costs, financial or otherwise, of implementing an instructional priority are
viable.
STEP 4. IMPLEMENT PLAN
The "strategic financial plan" is the long-term road map for implementing the district’s instructional
priorities. A "plan of action" describes how the strategic financial plan will be translated into coherent
actionable steps.
AA.. Develop a strategic financial plan. A strategic financial plan provides a three to five-year
perspective on how the district will pursue its instructional priorities and how success will be
determined.
48
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
BB.. Develop a plan of action. Roles and responsibilities for implementing the strategic financial plan
should be made clear for greater accountability.
CC.. Allocate resources to individual school sites. Resources have the most direct impact at school sites
and should be allocated transparently and consistent with the district’s overall strategy.
DD.. Develop a budget presentation. A budget document needs to be well organized and also clearly lay
out the challenges the district is facing and how the district’s strategies and financial plan will
address these challenges.
STEP 5. ENSURE SUSTAINABILITY.
The planning and budgeting process should be one that can be replicated in the future in order to ensure
the district remains focused and plans accordingly for reaching its student achievement goals.
AA.. Put the strategies into practice and evaluate results. To ensure timeliness and accountability, the
district should establish a system to implement the plan and monitor its progress while making
necessary adjustments to stay on track.
49
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
SCHOOL WIDE SMARTER GOALS
During the course of six months, the Academy undertook a thorough and enthusiastic SMARTER School
Budget planning process. The Five-Year Budget Forecast demonstrates an ongoing process of identifying
and balancing instructional priorities with financial realities. As was the case in previous years, the Five-
Year Budget Forecast will anchor the line-item budget for the 2017-2018 school year and beyond.
We acknowledge that financial and academic planning is NOT an event; it is an ongoing process that
involves a collaborative and intentional approach. The following “best practices” were put into place:
• Respect the budget planning cycle
• Identify instructional priorities
• Calculate the cost of instructional priorities
• Focus on efficiencies
• Evaluate the benefit and effectiveness of instructional priorities
Reference GFOA Criterion 2.A.2: School-Wide SMARTER Goals
50
BUDGET OVERVIEW AND PROCESS
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 17/18 began with the Westlake Board of
Trustees meeting that was held in June of 2017.
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
51
BUDGET OVERVIEW AND PROCESS
document to the Board of Trustees. A budget preparation calendar and timetable will be established and
followed in accordance with State law.
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.
• Additio nal 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 federal, state, and local revenues.
• The annual operating budget illustrates expenditures, anticipated revenues, and the estimated impact
on reserves.
• Budgets for each function are broken down into specific object codes, including payroll and payroll
related, professional and contracted services, supplies and materials, other operating costs, and debt
service.
• Revenue projections are prepared for each revenue source based on an analysis of historical revenue
trends and current fiscal conditions.
• Goals and objectives have been developed 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 board 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.
52
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:
GOVERNMENTAL FUNDS
Annual
Operating Budget
Audited
Financial Statements
• General Fund Modified Accrual Modified Accrual
• Special Revenue Funds Modified Accrual Modified Accrual
53
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 function and object code
• 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.
• Leadership Team members 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 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.
54
BUDGET OVERVIEW AND PROCESS
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.
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, 2017 will be submitted at the August 2017 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.
Program principals and coordinators are responsible for
monitoring their respective programme budgets.
The Finance Department will monitor all financial operations.
The budget team will decide whether to proceed with a
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.
BUDGET ADOPTION
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
1.
•Budget Amendment is requested
•Forwarded to Finance department
2.
•Finance Director reviews
•If approved -forward to Superintendent
3.
•Superintendent reviews
•If approved -forward to Board of Trustees
4.•Board of Trustees review for approval
5.•Finance enters budget amendment
55
BUDGET OVERVIEW AND PROCESS
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:
• Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
• Achieve the Academy’s mission and vision
• Systematically link the annual budget to a multi-year master financial plan.
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 forecast that the General Fund will maintain its minimum reserve for each of the four fiscal years beyond the
current proposed budget year.
BUDGET CALENDAR
The Budget Process covers the financial cycle starting with budget planning and ending with the audited annual
financial report.
Fiscal
Year
Positive
Operating
Balance
Fund
Balance
Operating
Days
Daily
Operating
FY 17/18 YES $ 1,218,429 53 $ 22,801
FY 18/19 YES $ 1,335,451 58 $ 23,110
FY 19/20 YES $ 1,347,361 58 $ 23,423
FY 20/21 YES $ 1,406,418 60 $ 23,287
FY 21/22 YES $ 1,357,213 57 $ 23,610
Timeline Description of Activities
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
56
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:
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
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?”
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.
57
BUDGET DOCUMENT STRUCTURE
Annual
Budget
A budget is required to be adopted annually for the General Fund (Westlake
Academy 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
Revenues
Public charter schools in the State of Texas do not have taxing authority, nor do
they 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.
State funding of public education was decreased by the State Legislature in 2001.
While it has increased somewhat since then, the allocation has not kept pace with
basic cost increases. And, in the Legislature’s most recent 2017 session, the per
student funding for public education was not increased for the next biennium.
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
Expenditures
Compensation and benefits are the largest operating cost for Westlake Academy,
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
Balance
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.
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.
58
FUND BALANCE COMPONENTS
NONSPENDABLE FUND
BALANCE
•Portion of net
resources that cannot
be spent because of
their form and
because they must be
maintained intact.
RESTRICTED FUND
BALANCE
•This term will is used
to describe net fund
resources subject to
externally enforceable
legal restrictions.
ASSIGNED FUND
BALANCE
•This term is used to
describe the portion of
fund balance that
reflects a
government’s
intended use of
resources.
UNASSIGNED FUND
BALANCE
•The residual net
resources in excess of
what is properly
categorized in one of
the other four
categories.
COMMITTED FUND
BALANCE
•The portion of fund
balance constrained
by limitations imposed
by government at its
highest level and
remains binding unless
removed in the same
manner.
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
59
FUND TYPES AND STRUCTURE
GOVERNMENTAL
FUNDS TYPES
General Fund
199 General Fund
198 Athletic Fund
197 Transportation Fund
ALL FUND TYPES
Governmental
Funds
General Fund
3 Funds
Special Revenue Funds
9 Funds
Debt Service Fund
WA does not have
Capital Project Funds
WA does not have
Permanent Funds
WA does not have
Proprietary
Funds
Internal Service Funds
WA does not have
Enterprise Funds
WA does not have
Fiduciary
Funds
Pension Trust Funds
WA does not have
Investment Trust Funds
WA does not have
Private Trust Funds
WA does not have
Agency Funds
1 fund
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.
G E NERAL F UND
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 and supported by State and local revenues.
• 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
usually includes transactions because of revenues from local
sources and State Foundation School Program Sources. Any locally
defined code that is used at the local option is to be converted to
Fund 199 for PEIMS reporting.
• 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.
60
FUND TYPES AND STRUCTURE
GOVERNMENTAL
FUNDS TYPES
Special Revenue Funds
Fund 410
Material Allotment
Fund 224
IDEA-B Formula
Fund 480/482/496
Hudson Foundation
Fund 461
Campus Activities
Fund 497
WAF Financial Assistance
Fund 484
Local Grants
Fund 498
International Mindedness
• 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.
S PECIAL R EVENUE F UNDS
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. These funds are not
adopted by the governing body, and are shown here
for informational purposes only.
• Fund 224 IDEA-B Formula (Federally funded)
- Fund is used, on a project basis, for funds
granted to operate educational programs for
children with disabilities.
• Fund 410 Material Allotment (State funded)
- 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 and local/international travel at Westlake Academy.
• Fund 480/482/496 Hudson Foundation (Locally funded) – These funds represent grants received from
the M.R. & Evelyn Hudson Foundation.
• Fund 484 Local Grants (Locally funded) – These funds represent grants from Westlake Academy
Foundation and the House of Commons for specific purposes.
• 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.
61
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).
A CCOUNT C ODE S TRUCTURE
Fund
Code
XXX
Function
Code
XX
Object Code
XXXX
Sub
Object
Code
XX
Organization
Code
XXX
Year
Code
X
Program
Intent
Code
XX
Local
Option
Code
XXX
(1xxx-
8xxx)
Account
Groups
(9xx)
(11-99) 1X – Assets
2X – Liabilities
3X – Fund Equity
4X – Clearing Accts
5X – Revenues
6X – Expenditures
7X – Other Resources
8X – Other Uses
(xx) (001-999) (0-9) (11-99) (xxx)
62
REVENUE CL ASSIFICATIONS
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 bridge 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 since 2010 and
based on the current legislative session, will not
increase for the next biennium. 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.
FEDERAL FUNDING
Federal funding is received through grants that support special education.
63
ALLOCATION FORMULAS
REVENUES ALLOCATED BY STAFF TYPE
Allocation process includes all available funding $8,584,100
FY 17/18 $8,584,100
Employee Adopted percent Revenue
Type Staffing of Total Allocation
Principals 5.75 6% $530,224
Coordinators 2.25 2% $207,479
Primary 27.00 29% $2,489,749
Secondary 33.59 36% $3,097,432
Support 14.00 15% $1,290,981
Specialist 5.00 5% $461,065
Foundation 1.50 2% $138,319
Facilities 2.00 2% $184,426
Technology 2.00 2% $184,426
TOTAL 93.09 100% $8,584,100
REVENUES ALLOCATED BY FUNCTION
Allocation process includes all available funding $8,584,100
FY 17/18 $8,584,100
Adopted percent Revenue
Function Description Staffing of Total Allocation
11 Instructional 64.59 69% $5,956,032
12 Media/Library 1.00 1% $92,213
21 Instructional Leadership 2.00 2% $184,426
23 Campus Leadership 10.50 11% $968,236
31 Guidance/Counselors 4.00 4% $368,852
33 Health Service/Nurses 2.00 2% $184,426
36 Extra Curricular 3.00 3% $276,639
41 General Administration 0.50 1% $46,106
51 Facilities Maintenance 2.00 2% $184,426
53 Information Technology 2.00 2% $184,426
61 W.A. Foundation 1.50 2% $138,319
TOTAL 93.09 100% $8,584,100
Reference GFOA Criterion 4.C.1: Allocation Formula
Reference GFOA Criterion 4.C3 1: Consolidated Budgeting
Budgetary allocations are an integral element
of financial planning for learning
organizations.
As such, they indicate the level of resources
an organization is committing to a
department or program.
Westlake Academy and the Town of
Westlake under their shared services model
work in harmony to determine resource and
revenue allocations.
The leadership of the
Academy works
directly with the
Directors of the
finance and human
resource departments
to determine staffing
needs as well as
program needs.
Within the scope of
the Academy’s
strategic plan, staffing
and program
allocations are
determined.
64
EXPENDITURE CLASSICATIONS
BY OBJECT CODES AND FUNCTION CODES
O BJECT C ODE G ENERAL D ESCRIPTIONS
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
F UNCTION C ODES – G ENERAL D ESCRIPTIONS
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
65
EXPENDITURE CLASSICATIONS
BY OBJECT CODES AND FUNCTION CODES
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).
• 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.
66
EXPENDITURE CLASSICATIONS
BY OBJECT CODES AND FUNCTION CODES
• 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 responsibilit y providing health services
which are not a part of direct instruction. It includes medical, dental, and nursing services.
• Function 34 - Student Transportation - Th is 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
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 expend itures 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.
67
EXPENDITURE CLASSICATIONS
BY OBJECT CODES AND FUNCTION CODES
• 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 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 expenditures for bond and lease
purchase principal, and all types of interest paid.
80 CAPITAL OUTLAY
• Function 81 - Capital Acquisition & Construction - This function includes expenditures that are
acquisitions, construction, or major renovation of Academy facilities.
Senior
Graduation Walk
68
RELATIONSHIP BETWEEN FUNDS AND FUNCTIONS
Instruction Instructional /Media Resources Curriculum Development Instructional Leadership School Leadership Guidance & Counseling Health Services Student Transportation Co-curricular / Extra Curricular Activities General Administration Plant Maintenance and Operations Data Processing Services Community Services Debt Service 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.
69
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70
71
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72
FINANCIAL FORECAST ASSUMPTIONS
STUDENT ENROLLMENT ASSUMPTIONS:
• Increase of 26 students in FY 2017/18 and 10
additional students in subsequent years
• Average Daily Attendance rate of 97%
REVENUES:
• 100% use of Westlake Academy Foundation (WAF)
Annual Program revenues (adopted $1 million)
• Career and Technology (CTE) Funding has increased
to 319 students for FY 2017/18 due to the addition of
the DP Business Management course and by
unblocking Algebra II or renaming/redesigning the
second block of Algebra II (numbers will fluctuate
slightly from year to year beyond 2017/18 due to student course selections).
• Future revenue projections are based upon the State’s current funding formula and current
local donation levels. Due to the uncertainty of state funding, the Academy adopted a new
policy in FY 14/15 which only allows increases in expenditures if there is an offsetting increase
in revenues
Charter schools do not have taxing authority, making them reliant upon state and local funding sources. As
an open enrollment charter school, all State funding is determined each legislative session and channeled to
Westlake Academy through the Foundation School Program (FSP).
Charter schools are funded based on their weighted average daily attendance (WADA). A school’s WADA is
determined not only by the number of students attending, but their participation in special programs, such as
special education and career and technology.
• Most Academy General Fund revenue is derived from the Foundation School Program.
• Secondary sources include the Westlake Academy Foundation and the Blacksmith Campaign.
• Growth in local revenues has been significant and is a result of strong parent support of the
Academy.
EXPENDITURES:
• Personnel costs are estimated to increase approximately 2.0% for FY 2017/18 and 1.5%
annually in subsequent years
• Professional Services, supplies and other operating expenditures are increased by 1% in outer
years but will only increase if revenues increase to offset additional expenditures
. 73
Audited Adopted Amended Proposed Amount Percent Projected Projected Projected Projected
FY 15/16 FY 16/17 FY 16/17 FY 17/18 Inc/(Dec)Inc/(Dec)FY 18/19 FY 19/20 FY 20/21 FY 21/22
Transportation 9,763$ 28,400$ 10,000$ 10,000$ -$ 0%10,000$ 10,000$ 10,000$ 10,000$
Parking 13,005 25,050 15,050 15,000 (50) 0%15,000 15,000 15,000 15,000
Athletic Activities 97,938 90,724 90,724 90,700 (24) 0%92,548 92,548 92,548 92,548
Interest Earned 3,126 3,000 4,500 3,000 (1,500) -33%3,000 3,000 3,000 3,000
WAF Blacksmith Donation 932,728 1,000,000 1,025,000 1,000,000 (25,000) -2%1,000,000 1,000,000 1,000,000 1,000,000
WAF Salary Reimbursement 60,389 66,432 66,432 67,800 1,368 2%69,156 69,156 69,156 69,156
Town Contribution - Westlake Reserve 300,000 300,000 300,000 300,000 - 0%300,000 300,000 300,000 300,000
Town Contribution 15,000 15,000 15,000 15,000 - 0%15,000 15,000 15,000 15,000
Other Local Revenue (BTS, Tech & Other)21,889 143,256 95,886 58,800 (37,086) -39%25,000 25,000 25,000 25,000
Fund raiser (Back to School)- - 16,000 16,000 - 0%- - - -
Food Services 6,000 6,000 6,000 6,100 100 2%6,060 6,060 6,060 6,060
Total Local Revenues 1,459,838 1,677,862 1,644,592 1,582,400 (62,192) -4%1,535,764 1,535,764 1,535,764 1,535,764
Percent of total revenues 19%20%20%18%-17%-87%18%18%18%18%
TEA - Foundation School Funds (Inc. accrual)5,856,979 5,606,212 5,539,350 5,781,200 241,850 4%5,781,200 5,781,200 5,781,200 5,781,200
CTE Funding (additional TEA-FSP Funds)- 356,475 299,605 572,200 272,595 91%572,200 572,200 572,200 572,200
TEA - Available School Funds 153,204 308,298 287,790 191,300 (96,490) -34%191,300 191,300 191,300 191,300
TEA - IB Training - - 6,300 6,300 - 0%- - - -
TRS On-behalf/Medicare Part B 398,957 450,326 450,326 450,700 374 0%459,714 468,908 478,286 487,852
Total State Revenues 6,409,140 6,721,311 6,583,371 7,001,700 418,329 6%7,004,414 7,013,608 7,022,986 7,032,552
Percent of total revenues 81%80%80%82%117%2%82%82%82%82%
TOTAL REVENUES 7,868,978$ 8,399,173$ 8,227,963$ 8,584,100$ 356,137$ 4%8,540,178$ 8,549,372$ 8,558,750$ 8,568,316$
Variance Variance
Function 11 - Instructional 5,369,349$ 4,788,354$ 4,759,616$ 4,975,270 215,654 5%215,654 186,916
Function 12 - Resources & Media 73,982 84,089 82,639 82,639 - 0%(2,078) (43,257)
Function 13 - Curriculum & Staff Development 147,558 127,802 86,623 84,545 (2,078) -2%(71,525) (69,925)
Function 21 - Instructional Leadership 210,590 276,548 278,148 206,623 (71,525) -26%(96,243) (93,818)
Function 23 - School Leadership 860,150 851,510 853,935 757,692 (96,243) -11%(4,977) (12,627)
Function 31 - Guidance & Counseling 248,153 236,600 228,950 223,973 (4,977) -2%(2,000) (2,000)
Function 33 - Health Services 62,327 68,024 68,024 66,024 (2,000) -3%(27,655) 42,532
Function 36 - Co/Extracurricular Activities 140,141 175,826 246,013 218,358 (27,655) -11%(46,959) (16,328)
Function 41 - Administrative 372,961 276,495 307,126 260,167 (46,959) -15%67,005 19,905
Function 51 - Maintenance & Operations 895,335 940,838 893,738 960,743 67,005 7%19,104 3,104
Function 53 - Data Processing 164,331 192,401 176,401 195,505 19,104 11%2,440 2,440
Function 61 - Community Services 118,429 122,020 122,020 124,460 2,440 2%(91,038) (91,038)
Function 71 - Debt Service 91,092 257,238 257,238 166,200 (91,038) -35%
TOTAL EXPENDITURES BY FUNCTION 8,754,398$ 8,397,745$ 8,360,471$ 8,322,199$ (38,272)$ 0%(38,272) (74,096)
Object Code 61XX - Salaries 6,189,531$ 6,290,364$ 6,290,149$ 6,279,299$ (10,850)$ 0%6,373,488$ 6,469,091$ 6,566,127$ 6,664,619$
Object Code 62XX - Contracted Services 1,112,259 1,024,552 996,210 1,003,205 6,995 1%1,013,237 1,023,369 1,033,603 1,043,939
Object Code 63XX - Supplies & Materials 906,649 374,382 302,735 395,828 93,093 31%399,786 403,784 407,822 411,900
Object Code 64XX - Other Operating Costs 454,867 451,209 514,139 477,667 (36,472) -7%482,444 487,268 492,141 497,062
Object Code 65XX - Debt Service 91,092 257,238 257,238 166,200 (91,038) -35%166,200 166,039 - -
TOTAL EXPENDITURES BY OBJECT 8,754,398$ 8,397,745$ 8,360,471$ 8,322,199$ (38,272)$ 0%8,435,155$ 8,549,551$ 8,499,693$ 8,617,521$
Other Resources - Local 474,300$ -$ 80,000$ 60,000$ (20,000)$ -25%
Transfer in - Campus Activity Fund - - 37,090 - (37,090) -100%
Other Uses - Local - (60,000) (60,000) -
NET OTHER RESOURCES (USES)474,300 - 57,090 - (57,090) -100%- - - -
EXCESS REVENUES OVER(UNDER) EXP (411,120)$ 1,428$ (75,418)$ 261,901$ 337,319$ -447%105,022$ (180)$ 59,057$ (49,205)$
FUND BALANCE BEGINNING 1,482,157$ 1,071,036$ 1,071,036$ 995,618$ (75,418)$ -7%1,257,519$ 1,362,541$ 1,362,361$ 1,421,418$
FUND BALANCE ENDING 1,071,036 1,072,464 995,618 1,257,519 261,901 26%1,362,541 1,362,361 1,421,418 1,372,213
Assigned - Bus Maintenance 37,090 24,090 (13,000) -35%12,090
Assigned - Technology/FFE 125,000 - - - - - - - -
Assigned - Uniform/Equip replacement 5,000 11,000 11,000 15,000 4,000 36%15,000 15,000 15,000 15,000
FUND BALANCE ENDING (Unassigned)941,036$ 1,061,464$ 947,528$ 1,218,429$ 270,901$ 29%1,335,451$ 1,347,361$ 1,406,418$ 1,357,213$
Number of Operating Days (365)41 46 41 53 13 32%58 58 60 57
Dollars per Operating Day 22,685$ 23,008$ 22,905$ 22,801$ (105)$ 0%23,110$ 23,423$ 23,287$ 23,610$
Total Students Enrolled 825 866 830 856 26 3%866 876 886 896
TEA Funding per Student (Incl CTE & SPED)7,285$ 7,241$ 7,382$ 7,646$ 264$ 4%7,557$ 7,471$ 7,387$ 7,304$
Operating Cost per Student (Academic Only)10,611$ 9,697$ 10,073$ 9,722$ (351)$ -3%9,740$ 9,760$ 9,593$ 9,618$
Teachers 65 66 66 66 0 0%66 66 66 66
Student/Teacher Ratio 13 13 13 13 0 3%13 13 14 14
Westlake Academy General Fund
Five Year Financial Forecast
Fiscal Years 2017/2018 through 2021/2022
74
GOVERNMENTAL FUNDS
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.
BUDGET SUMMARY
Amended
FY 2016/17
Proposed
FY 2017/18
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,616,941 $ 8,915,996 $ 299,055 3.5%
Total Expenditures 8,772,419 8,652,095 (120,324) -1.4%
Other Resources 117,090 60,000 (57,090) -48.8%
Other Uses 60,000 60,000 - 0.0%
Excess Revenues Over
(Under) Expenditures (98,388) 263,901 362,289 -368.2%
BEGINNING FUND BALANCE 1,158,762 1,060,374 (98,388) -8.5%
ENDING FUND BALANCE $ 1,060,374 $ 1,285,185 $ 263,901 25.0%
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. The Academy strives for 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 40 days (School FIRST Rating), barring any unforeseen circumstances.
PROJECTED ENDING FUND BALANCES
Fund Type
Projected
Beginning
Fund
Balance
Total
Revenues
and Other
Sources
Total
Expenditures
and Other
Uses
Projected
Ending
Fund
Balance
Percent
of
total
Change
Amount
Change
Percent
General
Fund $ 995,618 $ 8,584,100 $ 8,322,199 $1,257,519 95% $261,901 26.27%
Special
Revenue Funds 64,756 331,896 329,896 $66,756 5% $2,000 0.00%
TOTAL $ 1,056,424 $ 8,915,996 $ 8,652,095 $1,320,325 100% $263,901 24.98%
75
GOVERNMENTAL FUNDS
FINANCIAL SUMMARY
GOVERNMENTAL FUND REVENUES
Revenues received by Westlake Academy are classified into three broad categories:
The Academy’s primary revenue
Sources continue to be the State
Foundation School Program and
the Westlake Academy Foundation.
LOCAL REVENUES
Local funding consists of the following major sources, the Town of Westlake, Westlake Academy Foundation
(WAF) and the Hudson Foundation.
• 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 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 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 FY16/17 adopted Blacksmith revenues were forecasted to be $1 million; however, the
amended budget has been increased by $25,000. Total WAF contributions are projected at
$1 million in FY 17/18. The FY 2017/18 forecast is $1,000,000.
• 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.
• Other local revenues include athletic activities, back to school fees, transportation and parking fees,
interest earned, food services, salary reimbursements, and municipal contributions.
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Revenue
Percent
Local Revenues $1,885,092 $1,652,900 $(232,192) -12.32% 18.54%
State Program Revenues 6,591,996 7,159,096 567,100 8.60% 80.29%
Federal Program Revenues 139,853 104,000 (35,853) -25.64% 1.17%
Total Revenues $8,616,941 $8,915,996 $299,055 3.47% 100.00%
Local
Revenues,
18.54%State
Program
Revenues,
80.29%Federal
Program
Revenues,
1.17%
76
GOVERNMENTAL FUNDS
FINANCIAL SUMMARY
STATE PROGRAM REVENUES
State funding is the Academy’s largest revenue source, making up 76% of all General Fund revenues. 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 2017/18 will be approximately $7,646 per student.
• FY16/17 adopted state revenues, including Career & Technology Funding, were forecasted to be
$6.271 million; however due to less students than projected, the amended budget has been
decreased to $6.127 million. Total state revenues are projected at $6.545 million in FY 2017/18.
FEDERAL PROGRAM REVENUES
Federal funding is received through grants that support special education and accounts for
approximately one percent (1%) of revenues for all funds.
GOVERNMENTAL EXPENDITURES & THE 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
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Operating Expenditures $ 8,045,471 $ 8,007,199 $ (38,272) -0.48%
Municipal-Transfer to WA Operating Budget 315,000 315,000 - 0.00%
Total Academic Costs 8,360,471 8,322,199 (38,272) ‐0.46%
Annual Debt Service (Municipal budget) 1,704,035 1,869,870 165,835 9.73%
Major Maintenance and Replacement 279,565 200,000 (79,565) -28.46%
In-direct Operating Costs 674,130 727,659 53,529 7.94%
Total Municipal Costs 2,972,730 3,112,529 139,799 4.70%
TOTAL EXPENDITURE COSTS $ 11,333,201 $ 11,434,728 $ 101,527 0.90%
Number of Students 830 856 26 3.13%
$6,713 $6,980 $7,157 $7,285 $7,382 $7,646
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Amended
FY 17/18
Adopted
State Funding
(shown in millions)
77
GOVERNMENTAL FUNDS
FINANCIAL SUMMARY
Total Expenditure Cost per Student $13,654 $13,358 $(296) -2.17
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.
For FY 2017/18, Staff recommends a
salary increase of 2.0%. The increase
equals approximately $166,495 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 Code)
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Exp
Percent
61XX - Payroll & Related Items $ 6,453,501 $ 6,383,299 $ (70,202) -1.09% 73.78%
62XX - Contracted Services 1,024,710 1,000,220 (24,490) -2.39% 11.56%
63XX - Supplies & Materials 382,688 616,224 233,536 61.03% 7.12%
64XX - Other Operating 654,282 486,152 (168,130) -25.70% 5.62%
65XX - Debt Service 257,238 166,200 (91,038) -35.39% 1.92%
Total Expenditures $ 8,772,419 $ 8,652,095 $ (120,324) ‐1.37% 100.00%
EXPENDITURES
(by Function Code)
Amended
FY 6/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Revenue
Percent
11 - Instructional $5,006,760 $5,245,166 $238,406 4.76% 60.62%
12 - Resources & Media 82,639 82,639 - 0.00% 0.96%
13 - Staff Development 142,623 84,545 (58,078) -40.72% 0.98%
21 - Instructional Leadership 278,148 206,623 (71,525) -25.71% 2.39%
23 - School Leadership 877,739 757,692 (120,047) -13.68% 8.76%
31 - Guidance & Counseling 228,950 223,973 (4,977) -2.17% 2.59%
33 - Health Services 68,024 66,024 (2,000) -2.94% 0.76%
36 - Extra-/Co-Curricular Activities 331,013 278,358 (52,655) -15.91% 3.22%
41 - General Administration 307,126 260,167 (46,959) -15.29% 3.01%
51 - Maintenance & Operations 893,738 960,743 67,005 7.50% 11.10%
53 - Data Processing 176,401 195,505 19,104 10.83% 2.26%
61 - Community Services 122,020 124,460 2,440 2.00% 1.44%
71 - Debt Service 257,238 166,200 (91,038) -35.39% 1.92%
Total Expenditures $8,772,419 $8,652,095 $(120,324) ‐1.37% 100.00%
61XX - Payroll &
Related Items
73.78%
62XX ‐ Contracted
Services
11.56%
63XX ‐ Supplies &
Materials
7.12%
64XX ‐ Other
Operating
5.62%
6%
65XX ‐ Debt
Service
1.92%
78
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
REVENUES
Local Revenues 1,636,975$ 2,190,629$ 1,614,880$ 1,813,362$ 1,885,092$ 1,652,900$ (232,192)$
State Program Revenues 5,269,641 6,181,480 6,548,362 6,721,311 6,591,996 7,159,096 567,100
Federal Program Revenues 80,103 162,270 98,564 102,394 139,853 104,000 (35,853)
Total Revenues 6,986,719 8,534,379 8,261,806 8,637,067 8,616,941 8,915,996 299,055
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,264,664 4,716,639 5,760,357 4,985,626 5,006,760 5,245,166 238,406
12 - Resources & Media 57,884 67,933 77,692 84,089 82,639 82,639 -
13 - Staff Development 148,356 222,521 184,198 133,802 142,623 84,545 (58,078)
21 - Instructional Leadership 165,116 248,087 210,591 276,548 278,148 206,623 (71,525)
23 - School Leadership 597,075 712,023 885,787 851,510 877,739 757,692 (120,047)
31 - Guidance & Counseling 282,334 255,286 248,153 236,600 228,950 223,973 (4,977)
33 - Health Services 61,890 64,285 62,328 68,024 68,024 66,024 (2,000)
36 - Extra-/Co-Curricular Activities 152,261 142,799 179,779 215,826 331,013 278,358 (52,655)
41 - General Administration 389,673 351,087 372,986 276,495 307,126 260,167 (46,959)
51 - Maintenance & Operations 733,367 865,719 895,334 940,838 893,738 960,743 67,005
53 - Data Processing 177,063 100,757 164,330 192,401 176,401 195,505 19,104
61 - Community Services 113,995 111,620 118,429 122,020 122,020 124,460 2,440
71 - Debt Service 3,733 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Expenditures 7,147,411 7,948,705 9,251,056 8,641,017 8,772,419 8,652,095 (120,324)
Excess (Deficiency) of Revenues Over
(Under) Expenditures (160,692) 585,674 (989,250) (3,950) (155,478) 263,901 419,379
OTHER FINANCING SOURCES (USES)
79 - Other Resources 239,009 16,740 474,300 - 117,090 60,000 (57,090)
89 - Other Uses - - - - (60,000) (60,000) -
Total Other Financing Sources (Uses)239,009 16,740 474,300 - 57,090 - (57,090)
NET CHANGES IN FUND BALANCE 78,317 602,414 (514,950) (3,950) (98,388) 263,901 362,289
FUND BALANCE, BEGINNING 992,981 1,071,298 1,673,712 1,158,762 1,158,762 1,060,374 (98,388)
FUND BALANCE, ENDING 1,071,298 1,673,712 1,158,762 1,154,812 1,060,374 1,324,275 263,901
Assigned - Tech/FF&E Replacemt - - 125,000 - - - -
Assigned - Bus Maintenance - - - - 37,090 24,090 (13,000)
Assigned - Uniforms/Equip Rep - - 5,000 11,000 11,000 15,000 4,000
FUND BALANCE, UNASSIGNED 1,071,298$ 1,673,712$ 1,028,762$ 1,143,812$ 1,012,284$ 1,285,185$ 254,901$
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2018
79
REVENUES BY FUND TYPE
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
General Fund 7,805,552$ 7,868,978$ 7,868,978$ 8,399,173$ 8,227,963$ 8,584,100$ 356,137$
Special Revenue Funds 426,578 728,827 392,828 237,894 388,978 331,896 (57,082)
Total Revenues 8,232,130$ 8,597,805$ 8,261,806$ 8,637,067$ 8,616,941$ 8,915,996$ 299,055$
EXPENDITURES BY FUND TYPE
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
General Fund 6,733,873$ 7,364,649$ 8,754,398$ 8,397,745$ 8,360,471$ 8,322,199$ (38,272)$
Special Revenue Funds 413,538 584,053 496,657 243,272 411,948 329,896 (82,052)
Total Expenditures 7,147,411$ 7,948,702$ 9,251,055$ 8,641,017$ 8,772,419$ 8,652,095$ (120,324)$
EXPENDITURES BY OBJECT CODE
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
61XX - Payroll & Related Items 5,198,872$ 5,710,695$ 6,335,240$ 6,457,758$ 6,453,501$ 6,383,299$ (70,202)$
62XX - Contracted Services 958,208 1,099,388 1,147,193 1,027,552 1,024,710 1,003,205 (21,505)
63XX - Supplies & Materials 672,966 547,098 1,105,164 403,260 382,688 616,224 233,536
64XX - Other Operating 313,632 501,572 572,366 495,209 654,282 483,167 (171,115)
65XX - Debt Service 3,733 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Expenditures 7,147,411$ 7,948,702$ 9,251,055$ 8,641,017$ 8,772,419$ 8,652,095$ (120,324)$
WESTLAKE ACADEMY
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2018
61XX -Payroll & Related
Items
73.78%
62XX -Contracted Services
11.59%
63XX -Supplies & Materials
7.12%
64XX -Other Operating
5.58%
65XX -Debt Service
1.92%
Proposed Expenditures
by Object
80
Adopted Amended Adopted
Audited Audited Audited Budget Budget Budget
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18
REVENUES
Local Revenues 1,636,975$ 2,190,629$ 1,614,880$ 1,813,362$ 1,885,092$ 1,652,900$
State Program Revenues 5,269,641 6,181,480 6,548,362 6,721,311 6,591,996 7,159,096
Federal Program Revenues 80,103 162,270 98,564 102,394 139,853 104,000
Total Revenues 6,986,719$ 8,534,379$ 8,261,806$ 8,637,067$ 8,616,941$ 8,915,996$
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,264,664$ 4,716,639$ 5,760,357$ 4,985,626$ 5,006,760$ 5,245,166$
12 - Resources & Media 57,884 67,933 77,692 84,089 82,639 82,639
13 - Staff Development 148,356 222,521 184,198 133,802 142,623 84,545
21 - Instructional Leadership 165,116 248,087 210,591 276,548 278,148 206,623
23 - School Leadership 597,075 712,023 885,787 851,510 877,739 757,692
31 - Guidance & Counseling 282,334 255,286 248,153 236,600 228,950 223,973
33 - Health Services 61,890 64,285 62,328 68,024 68,024 66,024
35 - Food Services - - - - - -
36 - Extra-/Co-Curricular Activities 152,261 142,799 179,779 215,826 331,013 278,358
41 - General Administration 389,673 351,087 372,986 276,495 307,126 260,167
51 - Maintenance & Operations 733,367 865,719 895,334 940,838 893,738 960,743
52 - Security & Monitoring Services - - - - - -
53 - Data Processing 177,063 100,757 164,330 192,401 176,401 195,505
61 - Community Services 113,995 111,620 118,429 122,020 122,020 124,460
71 - Debt Service 3,733 89,949 91,092 257,238 257,238 166,200
81 - Facility Acquisition/Construction - - - - - -
Total Expenditures 7,147,411$ 7,948,705$ 9,251,056$ 8,641,017$ 8,772,419$ 8,652,095$
For the Year Ending August 31, 2018
WESTLAKE ACADEMY
ALL GOVERNMENTAL FUNDS
Local
Revenues
19%
State
Program
Revenues
79%
Federal
Program
Revenues
2%
Revenues
by Category
81
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.
BUDGET SUMMARY
Amended
FY 2016/17
Adopted
FY 2017/18
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,227,963 $ 8,584,100 $ 356,137 4%
Total Expenditures 8,360,471 8,322,199 (38,272) -0.46%
Other Resources 117,090 60,000 (57,090) -0.49%
Other Uses (60,000) (60,000) - 0%
Excess Revenues Over
(Under) Expenditures (75,418) 261,901 337,319 -447%
FUND BALANCE BEGINNING 1,071,036 995,618 (75,418) -7%
FUND BALANCE ENDING 995,618 1,257,519 261,901 26%
Assigned 48,090 39,090 (9,000) -19%
FUND BALANCE ENDING (Unassigned) $ 947,528 $ 1,219,857 $ 270,901 29%
# Days Operating (Based on 365) 41 54 13 29%
G E N E RAL F UND R EVENU ES
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Revenue
Percent
Local Revenues $ 1,644,592 $ 1,582,400 (62,192) -3.8% 18.4%
State Program Revenues 6,583,371 7,001,700 418,329 6.4% 81.6%
Total Revenues 8,227,963 8,584,100 356,137 4.3% 100.0%
Local Revenues
18.40%
State Program
Revenues
81.60%
82
GENERAL FUND
FINANCIAL SUMMARY
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
2009/10 but was cut the following two years due to State budget shortfalls. In FY 2017/18, the Academy
anticipates that state funding will increase by $264 per student due to the additional students enrolling and the
Career and Technology classes being offered.
Westlake Academy receives minimal federal funding, (IDEA B – Special Education Funds). 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
61XX -Payroll & Related
Items
75%
62XX -Contracted Services
12%
63XX -Supplies & Materials
5%
64XX -Other Operating
6%
65XX -Debt Service
2%
EXPENDITURES
BY OBJECT
CODE
EXPENDITURES
(by Object Code)
Amended
FY 16/17
Adopted
FY 17/18
$ Increase
(Decrease)
% Increase
(Decrease)
Exp
Percent
61XX - Payroll & Related Items 6,290,149 6,279,299 120,645 2% 75%
62XX - Contracted Services 996,210 1,003,205 6,995 1% 12%
63XX - Supplies & Materials 302,735 395,828 93,093 31% 5%
64XX - Other Operating 514,139 477,667 (36,472) -7% 6%
65XX - Debt Service 257,238 166,200 (91,038) -35% 2%
Total Expenditures 8,360,471 8,322,199 93,223 1% 100%
83
Adopted Amended Adopted Variance
Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
REVENUES
Local Revenues 1,664,363$ 1,459,838$ 1,677,862$ 1,644,592$ 1,582,400$ (62,192)
State Program Revenues 6,141,189 6,409,140$ 6,721,311 6,583,371 7,001,700 418,329
Total Revenues 7,805,552 7,868,978 8,399,173 8,227,963 8,584,100 356,137
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,343,536 5,369,349 4,788,354 4,759,616 4,975,270 215,654
12 - Resources & Media 67,933 73,982 84,089 82,639 82,639 -
13 - Staff Development 165,308 147,558 127,802 86,623 84,545 (2,078)
21 - Instructional Leadership 212,942 210,590 276,548 278,148 206,623 (71,525)
23 - School Leadership 620,382 860,150 851,510 853,935 757,692 (96,243)
31 - Guidance & Counseling 255,158 248,153 236,600 228,950 223,973 (4,977)
33 - Health Services 64,285 62,327 68,024 68,024 66,024 (2,000)
36 - Extra-/Co-Curricular Activities 122,974 140,141 175,826 246,013 218,358 (27,655)
41 - General Administration 344,086 372,961 276,495 307,126 260,167 (46,959)
51 - Maintenance & Operations 865,719 895,335 940,838 893,738 960,743 67,005
53 - Data Processing 100,757 164,331 192,401 176,401 195,505 19,104
61 - Community Services 111,620 118,429 122,020 122,020 124,460 2,440
71 - Debt Service 89,949 91,092 257,238 257,238 166,200 (91,038)
81 - Facility Acquisition/Construction - - - - - -
Total Expenditures 7,364,649 8,754,398 8,397,745 8,360,471 8,322,199 (38,272)
Excess (Deficiency) of Revenues Over
440,903 (885,420) 1,428 (132,508) 261,901 394,409
OTHER FINANCING SOURCES (USES)
79 - Capital Lease Proceeds 16,740 474,300 - - - -
79 - Other Resources (CAF)45,000 - - 117,090 60,000 (57,090)
89 - Other Uses (45,000) - - (60,000) (60,000) -
16,740 474,300 - 57,090 - (57,090)
NET CHANGES IN FUND BALANCE 457,643 (411,120) 1,428 (75,418) 261,901 337,319
-
FUND BALANCE, BEGINNING 1,024,517 1,482,157 1,071,036 1,071,036 995,618 (75,418)
FUND BALANCE, ENDING 1,482,157 1,071,036 1,072,464 995,618 1,257,519 261,901
Assigned - Bus Maintenance - - - 37,090 24,090 (13,000)
Assigned - Tech/FF&E Rplcmnt - 125,000 - - - -
Assigned - Uniforms/Equip Rplcmnt - 5,000 11,000 11,000 15,000 4,000
Assigned - Facility Maintenance/FFE - - - -
FUND BALANCE, UNASSIGNED 1,482,157$ 941,036$ 1,061,464$ 947,528$ 1,218,429$ 270,901$
Total Other Financing Sources (Uses)
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2018
(Under) Expenditures
84
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2018
11 -Instructional
60%
23 -School Leadership
9%
51 -Maintenance &
Operations
12%
PROPOSED EXPENDITURES (BY FUNCTION)
11 - Instructional
12 - Resources & Media
13 - Staff Development
21 - Instructional Leadership
23 - School Leadership
31 - Guidance & Counseling
33 - Health Services
36 - Extra-/Co-Curricular Activities
41 - General Administration
51 - Maintenance & Operations
53 - Data Processing
61 - Community Services
71 - Debt Service
81 - Facility Acquisition/Construction
$7.81 $7.87
$8.40
$8.23
$8.58
$7.36
$8.75
$8.40 $8.36 $8.32
FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18
Audited Audited Budget Budget Budget
Adopted Amended Adopted
Revenue & Expenditure Comparison (in millions)Total Revenues
Total Expenditures
85
197 198 199 Total
Transportation/Athletic General General
Parking Fund Activities Fund Fund
FY 17/18 FY 17/18 FY 17/18 FY 17/18
REVENUES
Local Revenues 25,000$ 90,700$ 1,466,700$ 1,582,400$
State Program Revenues - - 7,001,700 7,001,700
Total Revenues 25,000 90,700 8,468,400 8,584,100
EXPENDITURES (BY FUNCTION)
11 - Instructional 1,786 - 4,973,484 4,975,270
12 - Resources & Media - - 82,639 82,639
13 - Staff Development - - 84,545 84,545
21 - Instructional Leadership - - 206,623 206,623
23 - School Leadership - - 757,692 757,692
31 - Guidance & Counseling - - 223,973 223,973
33 - Health Services - - 66,024 66,024
36 - Extra-/Co-Curricular Activities 31,950 154,519 31,889 218,358
41 - General Administration - - 260,167 260,167
51 - Maintenance & Operations - - 960,743 960,743
53 - Data Processing - - 195,505 195,505
61 - Community Services - - 124,460 124,460
71 - Debt Service - - 166,200 166,200
Total Expenditures 33,736 154,519 8,133,944 8,322,199
(8,736) (63,819) 334,456 261,901
OTHER FINANCING SOURCES (USES)
79 - Other Resources - 60,000 - 60,000
89 - Other Uses - - (60,000) (60,000)
Total Other Financing Sources (Uses)- 60,000 (60,000) -
NET CHANGES IN FUND BALANCE (8,736) (3,819) 274,456 261,901
FUND BALANCE, BEGINNING 77,291 25,232 893,097 995,618
FUND BALANCE, ENDING 68,555 21,413 1,167,553 1,257,519
Assigned - Bus Maintenance 24,090 - - 24,090
Assigned - Technology/FF&E Replacement - - - -
Assigned - Uniform/Equipment Replacement - 15,000 - 15,000
ENDING FUND BALANCE (UNASSIGNED)44,465$ 6,413$ 1,167,553$ 1,218,429$
Excess (Deficiency) of Revenues Over (Under) Expenditures
For the Year Ending August 31, 2018
WESTLAKE ACADEMY
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
Proposed FY 2017 / 2018
86
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
11 Instructional
6100 Payroll 3,398,381$ 3,915,927$ 4,445,106$ 4,411,715$ 4,407,732$ 4,564,442$ 156,710$
6200 Contracted Services 97,088 107,213 69,223 59,085 69,536 69,320 (216)
6300 Supplies & Materials 477,541 254,692 745,920 214,687 141,600 202,928 61,328
6400 Other Operating 44,942 65,705 109,100 102,867 140,748 138,580 (2,168)
Total Instructional 4,017,952 4,343,537 5,369,349 4,788,354 4,759,616 4,975,270 21,564
12 Resource & Media
6100 Payroll 50,006 56,186 68,030 71,339 71,339 71,339 -
6200 Contracted Services 1,325 2,650 - 2,650 1,054 1,100 46
6300 Supplies & Materials 5,221 7,057 5,773 8,120 8,120 8,100 (20)
6400 Other Operating - 2,040 179 1,980 2,126 2,100 (26)
Total Resource & Media 56,552 67,933 73,982 84,089 82,639 82,639 -
13 Staff Development
6100 Payroll - 2,522 - - - - -
6200 Contracted Services 5,122 14,320 21,998 7,998 - - -
6300 Supplies & Materials - 762 7,223 6,380 380 400 20
6400 Other Operating 70,371 147,704 118,337 113,424 86,243 84,145 (2,098)
Total Staff Development 75,493 165,308 147,558 127,802 86,623 84,545 (2,078)
21 Instructional Leadership
6100 Payroll 159,279 202,096 199,183 270,623 270,623 200,623 (70,000)
6200 Contracted Services - 3,200 - - - - -
6300 Supplies & Materials 140 2,092 4,605 500 200 500 300
6400 Other Operating 5,697 5,554 6,802 5,425 7,325 5,500 (1,825)
Total Instructional Leadership 165,116 212,942 210,590 276,548 278,148 206,623 (71,525)
23 School Leadership
6100 Payroll 531,557 599,702 810,667 823,565 823,565 723,565 (100,000)
6200 Contracted Services 413 150 - 100 100 - (100)
6300 Supplies & Materials 5,546 4,330 18,690 1,038 1,038 1,000 (38)
6400 Other Operating 14,654 16,200 30,793 26,807 29,232 33,127 3,895
Total School Leadership 552,170 620,382 860,150 851,510 853,935 757,692 (96,243)
31 Guidance & Counseling
6100 Payroll 179,572 137,129 160,308 163,773 163,773 163,773 -
6200 Contracted Services 93,230 110,079 73,358 58,424 53,704 43,200 (10,504)
6300 Supplies & Materials 2,903 5,223 9,076 6,366 4,675 7,800 3,125
6400 Other Operating 6,629 2,727 5,411 8,037 6,798 9,200 2,402
Total Guidance & Counseling 282,334 255,158 248,153 236,600 228,950 223,973 (4,977)
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2018
87
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
33 Health Services
6100 Payroll 60,659$ 62,653$ 59,536$ 63,524$ 63,524$ 63,524$ -$
6200 Contracted Services 145 520 520 1,500 1,500 1,000 (500)
6300 Supplies & Materials 1,086 1,112 2,271 3,000 3,000 1,500 (1,500)
6400 Other Operating - - - - - - -
Total Health Services 61,890 64,285 62,327 68,024 68,024 66,024 (2,000)
36 Co-/Extra Curricular Activities
6100 Payroll 54,755 54,381 64,625 90,690 94,458 94,458 -
6200 Contracted Services 21,611 19,370 26,428 32,419 32,860 39,000 6,140
6300 Supplies & Materials 23,592 28,743 21,744 26,444 33,060 37,500 4,440
6400 Other Operating 21,882 20,479 27,344 26,273 85,635 47,400 (38,235)
Total CoCurricular Activities 121,840 122,973 140,141 175,826 246,013 218,358 (27,655)
41 Administrative
6100 Payroll 145,799 93,706 38,554 40,267 40,267 40,267 -
6200 Contracted Services 159,232 168,012 247,576 154,382 184,932 141,085 (43,847)
6300 Supplies & Materials 16,338 19,412 16,150 11,850 21,195 21,200 5
6400 Other Operating 58,499 62,956 70,681 69,996 60,732 57,615 (3,117)
Total Administrative 379,868 344,086 372,961 276,495 307,126 260,167 (46,959)
51 Maintenance & Operations
6100 Payroll 94,734 99,798 100,193 97,543 97,543 97,543 -
6200 Contracted Services 518,512 619,660 664,518 677,298 646,828 694,800 47,972
6300 Supplies & Materials 60,415 55,623 50,201 75,997 59,467 78,500 19,033
6400 Other Operating 59,706 90,638 80,423 90,000 89,900 89,900 -
Total Maintenance & Operations 733,367 865,719 895,335 940,838 893,738 960,743 67,005
53 Data Processing
6100 Payroll 151,803 73,492 124,899 135,305 135,305 135,305 -
6200 Contracted Services 13,359 11,153 8,639 30,696 5,696 13,700 8,004
6300 Supplies & Materials 11,074 14,926 24,995 20,000 30,000 36,400 6,400
6400 Other Operating 827 1,186 5,798 6,400 5,400 10,100 4,700
Total Data Processing 177,063 100,757 164,331 192,401 176,401 195,505 19,104
61 Community Services
6100 Payroll 101,834$ 111,620$ 118,429$ 122,020$ 122,020$ 124,460$ 2,440$
6400 Other Operating 4,661 - - - - - -
Total Community Service 106,495 111,620 118,429 122,020 122,020 124,460 2,440
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2018
88
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
71 Debt Service
6500 Debt Service 3,733 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Debt Service 3,733 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Expenditure 6,733,873$ 7,364,649$ 8,754,398$ 8,397,745$ 8,360,471$ 8,322,199$ (38,272)$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
EXPENDITURES BY OBJECT CODE
61XX - Payroll & Related Items 4,928,378$ 5,409,211$ 6,189,531$ 6,290,364$ 6,290,149$ 6,279,299$ (10,850)$
62XX - Contracted Services 910,036 1,056,326 1,112,259 1,024,552 996,210 1,003,205 6,995
63XX - Supplies & Materials 603,857 392,279 906,649 374,382 302,735 395,828 93,093
64XX - Other Operating 287,869 416,884 454,867 451,209 514,139 477,667 (36,472)
65XX - Debt Service 3,733 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Expenditures 6,733,873$ 7,364,649$ 8,754,398$ 8,397,745$ 8,360,471$ 8,322,199$ (38,272)$
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2018
WESTLAKE ACADEMY
61XX -Payroll & Related
Items
75%
62XX -Contracted Services
12%
63XX -Supplies & Materials
5%
64XX -Other Operating
6%
65XX -Debt Service
2%
EXPENDITURES BY
OBJECT CODE
89
Fiscal Year Revenues incr %Expenditures incr %Net Change
FY 03/04 Audited 1,094,608$ 1,068,857$ 25,751$
FY 04/05 Audited 1,831,898 67.4%1,612,198 50.8%219,700
FY 05/06 Audited 2,407,526 31.4%2,211,897 37.2%195,629
FY 06/07 Audited 2,879,531 19.6%2,615,511 18.2%264,020
FY 07/08 Audited 3,168,968 10.1%3,226,254 23.4%(57,286)
FY 08/09 Audited 3,661,645 15.5%3,709,086 15.0%(47,441)
FY 09/10 Audited 4,280,723 16.9%3,917,886 5.6%362,837
FY 10/11 Audited 4,608,573 7.7%4,518,107 15.3%90,466
FY 11/12 Audited 5,244,170 13.8%5,287,757 17.0%(43,587)
FY 12/13 Audited 5,640,934 7.6%5,496,181 3.9%144,753
FY 13/14 Audited 6,560,141 16.3%6,733,873 22.5%(173,732)
FY 14/15 Audited 7,805,552 19.0%7,364,649 9.4%440,903
FY 15/16 Audited 7,868,978 0.8%8,754,398 18.9%(885,420)
FY 16/17 Amended 8,227,963 4.6%8,360,471 -4.5%(132,508)
FY 17/18 Proposed 8,584,100 4.3%8,322,199 -0.5%261,901
WESTLAKE ACADEMY
REVENUE AND EXPENDITURE COMPARISON
Fiscal Years 03/04 through 17/18
GENERAL FUND
$3.17$3.66$4.28$4.61$5.24$5.64$6.56$7.81$7.87$8.23$8.58$3.23$3.71$3.92$4.52$5.29$5.50$6.73$7.36$8.75$8.36$8.32FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17
AMENDED
FY 17/18
PROPOSED
Revenue & Expenditure
Comparison
Revenues Expenditures
90
Adopted Amended Adopted Variance
Audited Audited Budget Budget Budget Amended to
Y FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Adopted
REVENUES
Local Revenues 53,417$ 22,768$ 53,450$ 25,050$ 25,000$ (50)$
State Revenues - - - - - -
Total Revenues 53,417 22,768 53,450 25,050 25,000 (50)
EXPENDITURES (BY FUNCTION)
11 - Instructional 28,016 13,597 7,254 1,786 1,786 -
36 - Co-/Extra Curricular Activities 14,876 13,055 22,582 28,050 31,950 3,900
Total Expenditures 42,892 26,652 29,836 29,836 33,736 3,900
Excess (Deficiency) of Revenues Over
(Under) Expenditures 10,525 (3,884) 23,614 (4,786) (8,736) (3,950)
OTHER FINANCING SOURCES (USES)
79 - Other Resources - - - - - -
89 - Other Uses - - - - - -
Total Other Financing Sources (Uses)- - - - - -
NET CHANGES IN FUND BALANCE 10,525 (3,884) 23,614 (4,786) (8,736) (3,950)
FUND BALANCE, BEGINNING 51,822 62,347 58,463 82,077 77,291 (4,786)
FUND BALANCE, ENDING 62,347 58,463 82,077 77,291 68,555 (8,736)
Assigned - Bus Maintenance - - - 37,090 24,090 (13,000)
Assigned - Parking - - - - - -
ENDING FUND BALANCE (UNASSIGNED)62,347$ 58,463$ 82,077$ 40,201$ 44,465$ 4,264$
WESTLAKE ACADEMY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
TRANSPORTATION/PARKING FUND - 197
For the Year Ending August 31, 2018
91
Adopted Amended Adopted Variance
Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Adopted
REVENUES
Local Revenues 89,253$ 97,940$ 90,724$ 90,724$ 90,700$ (24)$
State Revenue 1,360 1,396 - - - -
Total Revenues 90,613 99,336 90,724 90,724 90,700 (24)
EXPENDITURES (BY FUNCTION)
11 - Instructional - 38 - - - -
36 - Co-/Extra Curricular Activities 100,023 99,421 124,655 186,605 154,519 (32,086)
Total Expenditures 100,023 99,459 124,655 186,605 154,519 (32,086)
(9,410) (123) (33,931) (95,881) (63,819) 32,062
OTHER FINANCING SOURCES (USES)
79 - Other Resources 45,000 - - 60,000 60,000 -
89 - Other Uses - - - - - -
Total Other Financing Sources (Uses)45,000 - - 60,000 60,000 -
NET CHANGES IN FUND BALANCE 35,590 (123) (33,931) (35,881) (3,819) 32,062
FUND BALANCE, BEGINNING 59,578 95,168 95,044 61,113 25,232 (35,881)
FUND BALANCE, ENDING 95,168 95,045 61,113 25,232 21,413 (3,819)
Assigned - Uniform/Equip Replacement - 5,000 11,000 11,000 15,000 4,000
ENDING FUND BALANCE (UNASSIGNED)95,168$ 90,045$ 50,113$ 14,232$ 6,413$ (7,819)$
Excess (Deficiency) of Revenues Over
(Under) Expenditures
WESTLAKE ACADEMY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ATHLETIC ACTIVITIES FUND - 198
For the Year Ending August 31, 2018
92
Adopted Amended Adopted Variance
Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Adopted
REVENUES
Local Revenues 1,521,693$ 1,352,763$ 1,533,688$ 1,528,818$ 1,466,700$ (62,118)$
State Program Revenues 6,139,829 6,407,743 6,721,311 6,583,371 7,001,700 418,329
Total Revenues 7,661,522 7,760,506 8,254,999 8,112,189 8,468,400 356,211
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,315,520 5,355,713 4,777,904 4,757,830 4,973,484 215,654
12 - Resources & Media 67,933 73,982 84,089 82,639 82,639 -
13 - Staff Development 165,308 147,559 127,802 86,623 84,545 (2,078)
21 - Instructional Leadership 212,942 210,510 276,548 278,148 206,623 (71,525)
23 - School Leadership 620,382 860,150 851,510 853,935 757,692 (96,243)
31 - Guidance & Counseling 255,158 248,153 236,600 228,950 223,973 (4,977)
33 - Health Services 64,285 62,327 68,024 68,024 66,024 (2,000)
36 - Co-/Extra Curricular Activities 8,075 27,665 89,708 31,358 31,889 531
41 - Administrative 344,086 372,961 276,495 307,126 260,167 (46,959)
51 - Maintenance & Operations 865,719 895,335 940,838 893,738 960,743 67,005
53 - Data Processing 100,757 164,331 192,401 176,401 195,505 19,104
61 - Community Services 111,620 118,429 122,020 122,020 124,460 2,440
71 - Debt Service 89,949 91,092 257,238 257,238 166,200 (91,038)
Total Expenditures 7,221,734 8,628,207 8,301,177 8,144,030 8,133,944 (10,086)
439,788 (867,701) (46,178) (31,841) 334,456 366,297
OTHER FINANCING SOURCES (USES)
79 - Capital Lease Proceeds 16,740 474,300 - - -
79 - Transfers In - - - 57,090 - (57,090)
89 - Transfer Out (Use)(45,000) - - (60,000) (60,000) -
Total Other Financing Sources (Uses)(28,260) 474,300 - (2,910) (60,000) (57,090)
OTHER FINANCING SOURCES (USES)
79 - Extraordinary Item - - - - - -
89 - Extraordinary Item - - - - - -
Total Other Financing Sources (Uses)- - - - - -
NET CHANGES IN FUND BALANCE 411,528 (393,401) (46,178) (34,751) 274,456 309,207
-
FUND BALANCE, BEGINNING 913,117 1,324,645 931,244 931,244 893,097 (38,147)
FUND BALANCE, ENDING 1,324,645 931,244 885,066 893,097 1,167,553 274,456
Assigned - Technology/FF&E - 125,000 - - - -
ENDING FUND BALANCE (UNASSIGNED)1,324,645$ 806,244$ 885,066$ 893,097$ 1,167,553$ 274,456$
Excess (Deficiency) of Revenues Over
(Under) Expenditures
WESTLAKE ACADEMY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND - 199
For the Year Ending August 31, 2018
93
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
FY 16/17
Adopted
FY 17/18 Variance
FEDERAL GRANTS THROUGH TEA
• Fund 224 - IDEA B $ 104,058 $ 104,000 $ (58)
• Fund 226 – IDEA B Discretionary 35,215 (35,215)
Sub-total Federal Grants 139,273 104,000 (35,273)
STATE GRANTS THROUGH TEA
• Fund 410 - Material Allotment Disbursement 8,225 157,396 149,171
Sub-total State Grants 8,225 157,396 149,171
LOCAL ACTIVITIES
• Fund 461 - Local Campus Activity 85,000 60,000 (25,000)
• Fund 484 - Local Grants (HOC & WAF) 55,000 - (55,000)
• Fund 498 - International Mindedness Symposium 6,000 6,000 -
Sub-total Local Activities 146,000 66,000 (80,000)
HUDSON FOUNDATION GRANTS
• Fund 480 - Hudson Foundation Grant 3,404 - (3,404)
• Fund 482 - Hudson Foundation Grant 95,580 - (95,580)
• Fund 496 – Hudson Foundation Grant 16,966 - (16,966)
Sub-total Hudson Foundation Grants 115,950 - (115,950)
WESTLAKE ACADEMY FOUNDATION GRANTS
• Fund 497 – Student Travel Awards 2,500 2,500 -
Sub-total Foundation Grants 2,500 2,500 -
Grant Total - All Special Revenue Fund Expenditures $ 411,948 $ 329,896 $ (82,052)
94
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 17/18 Proposed
REVENUES
Local Program Revenues 267,142$ 526,266$ 155,042$ 135,500$ 240,500$ 70,500$ (170,000)$
State Program Revenues 79,333 40,291 139,222 - 8,625 157,396 148,771
Federal Program Revenues 80,103 162,270 98,564 102,394 139,853 104,000 (35,853)
Total Revenues 426,578 728,827 392,828 237,894 388,978 331,896 (57,082)
EXPENDITURES (BY FUNCTION)
11 - Instructional 246,713 373,136 391,009 197,272 247,144 269,896 22,752
12 - Resources & Media 1,332 3,709 - - - -
13 - Staff Development 72,863 57,213 36,639 6,000 56,000 - (56,000)
23 - School Leadership 44,905 91,641 25,637 - 23,804 - (23,804)
36 - CoCurricular/Extracurricular Activities 30,421 19,825 39,638 40,000 85,000 60,000 (25,000)
41 - Administrative 9,805 7,000 25 - - - -
Total Expenditures 413,538 584,053 496,657 243,272 411,948 329,896 (82,052)
(Under) Expenditures 13,040 144,774 (103,829) (5,378) (22,970) 2,000 24,970
NET CHANGES IN FUND BALANCE 13,040 144,774 (103,829) (5,378) (22,970) 2,000 24,970
FUND BALANCE, BEGINNING 33,741 46,781 191,555 87,726 87,726 64,756 (22,970)
FUND BALANCE, ENDING 46,781 191,555 87,726 82,348 64,756 66,756 2,000
FUND BALANCE, ENDNG (Unassigned)46,781$ 191,555$ 87,726$ 82,348$ 64,756$ 66,756$ 2,000$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 16/17 FY 16/17 Proposed
EXPENDITURES BY OBJECT CODE
61XX - Payroll & Related Items 270,494$ 301,481$ 145,708$ 167,394$ 163,352$ 104,000$ (59,352)$
62XX - Contracted Services 48,172 43,063 34,934 3,000 28,500 - (28,500)
63XX - Supplies & Materials 69,109 154,820 198,515 28,878 79,953 220,396 140,443
64XX - Other Operating 25,763 84,689 117,500 44,000 140,143 5,500 (134,643)
Total Expenditures 413,538$ 584,053$ 496,657$ 243,272$ 411,948$ 329,896$ (82,052)$
Excess (Deficiency) of Revenues Over
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2018
95
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 $1.869M, and are funded primarily by municipal sales tax receipts.
Academy related debt is over 75% of the Town's debt burden. However, the school is also considered the
Town’s primary economic development tool.
FY 17/18 debt service payments related to the construction of Westlake Academy facilities include:
Amount Series Number Debt Service Type
$ 299,608 on Series 2007 General Obligation Refunding Bonds
892,650 on Series 2011 General Obligation Refunding Bonds
162,400 on Series 2013 Certificates of Obligation
445,172 on Series 2013 General Obligation Refunding Bonds
70,040 on Series 2014 General Obligation Refunding Bonds
$ 1,869,870 TOTAL DEBT
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, a division of the
McGraw-Hill Inc., increased the Town’s rating from
AA+ to AAA/stable during FY 2016-17.
Below is an excerpt from Standards and Poor’s rating letter:
• Very strong economy, with access to a broad and diverse metropolitan statistical area (MSA) but a concentrated local
tax base;
• Strong management, with good financial policies and practices under our Financial Management Assessment
methodology;
• Strong budgetary performance, with operating surpluses in the general fund and at the total governmental fund level
in fiscal 2015;
• Very strong budgetary flexibility with a high available fund balance in fiscal 2015 of 100% of operating expenditures;
• Very strong liquidity, with total government available cash at 81.7% of total governmental fund expenditures and
7.4x governmental debt service, and access to external liquidity that we consider strong;
• Weak debt and contingent liability position, with debt service carrying charges at 11% of expenditures and net direct
debt that is 99% of total governmental fund revenue; and
• Strong institutional framework score.
96
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
Total Facilities Improvements $ 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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100
PERSONNEL & PAYROLL OVERVIEW
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 (ALL FUNDS)
FY 16/17
Estimated
FY 17/18
Adopted
Change
Amount
Change
Percent
PR Wages $ 5,417,382 $5,500,662 $ 83,280 1.5%
Social Security/Medicare 86,009 90,869 4,860 5.7%
Health Insurance 308,773 297,751 (11,022) -3.6%
Workers’ Compensation 22,870 23,446 576 2.5%
TRS On-Behalf 451,407 434,238 (17,169) -3.8%
Unemployment Taxes 25,007 1,781 (23,226) -92.9%
Retirement (TRS) 100,227 34,553 (65,674) -65.5%
GRAND TOTAL $ 6,411,675 $ 6,383,300 $ (28,375) .44%
EMPLOYEE POSITIONS BY TYPE
Employee
Type
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY 16/17
Estimated
FY 17/18
Adopted
Principals 3.00 4.00 4.50 4.50 4.50 5.75
Coordinators 3.50 3.50 3.50 4.50 4.50 2.25
Primary 17.90 19.90 23.59 27.00 27.00 27.00
Secondary 24.50 24.91 30.92 32.06 32.55 33.59
Support 13.27 13.97 18.10 15.50 15.00 14.00
Instr. Specialist 3.50 3.50 5.00 6.25 6.00 5.00
WA Foundation 1.50 1.50 1.50 1.50 1.50 1.50
Facilities 1.60 1.60 2.00 2.00 2.00 2.00
Technology 1.80 1.80 1.10 2.00 2.00 2.00
Total Staff 70.57 74.68 90.21 95.31 95.05 93.09
Total Teachers 45.90 48.31 59.51 65.31 65.55 65.59
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.
101
PERSONNEL & PAYROLL OVERVIEW
Principals
5%
Coordinators
5%
Primary
29%
Secondary
35%
Support
15%
Specialist
6%Foundation
1%
Facilities
2%
IT Dept.
2%
Employee
Positions
by Type
3.00 4.00 4.50 4.50 4.50 5.753.50 3.50 3.50 4.50 4.50 2.25
17.90 19.90 23.59 27.00 27.00 27.00
24.50 24.91
30.92
32.06 32.55 33.59
13.27
13.97
18.10
15.50 15.00 14.00
3.50
3.50
5.00
6.25 6.00 5.00
1.50
1.50
1.50
1.50 1.50 1.50
1.60
1.60
2.00
2.00 2.00 2.00
1.80
1.80
1.10
2.00 2.00 2.00
0
10
20
30
40
50
60
70
80
90
100
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY 16/17
Estimated
FY 17/18
Proposed
DEFINED EMPLOYEE GROUPS BY FTE
Technology
Facilities
WA
Foundation
Instr Specialist
Support
Secondary
Primary
Coordinators
Principals
102
PERSONNEL & PAYROLL OVERVIEW
PERSONNEL POSITION SUMMARY
Positions
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY 16/17
Estimated
FY 17/18
Adopted Change
Executive Director
- 0.50 1.00 1.00 1.00 1.00 -
Primary Principal
1.00 1.00 1.00 1.00 1.00 1.00 -
Asst. Primary Principal
- - - - - 1.00 1.00
MYP Principal
1.00 1.00 1.00 1.00 1.00 - (1.00)
Asst MYP Principal
0.50 1.00 1.00 1.00 1.00 - (1.00)
Student Life Coordinator/AD
- - - - - 1.00 1.00
DP Principal 0.50 0.50 0.50 0.50 0.50 1.00 0.50
Asst. Secondary Principal
- - - - - 0.75 0.75
Principal Staffing 3.00 4.00 4.50 4.50 4.50 5.75 1.25
DP Coordinator
0.50 0.50 0.50 0.50 0.50 0.50 -
MYP Academic Dean
- - - 1.00 1.00 - (1.00)
MYP Coordinator
1.00 1.00 1.00 1.00 1.00 0.50 (0.50)
PYP Coordinator
1.00 1.00 1.00 1.00 1.00 1.00 -
Student Services Coordinator
- - - 1.00 1.00 - (1.00)
Admin Coordinator
1.00 1.00 1.00 - - - -
Compliance Coordinator
- - - - - 0.25 0.25
Coordinator Staffing 3.50 3.50 3.50 4.50 4.50 2.25 (2.25)
Primary - Kindergarten
2.00 2.00 3.00 3.00 3.00 3.00 -
Primary - Grade 1
2.00 2.00 3.00 3.00 3.00 3.00 -
Primary - Grade 2
2.00 2.00 3.00 3.00 3.00 3.00 -
Primary - Grade 3
2.00 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 4
3.00 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 5
2.00 3.00 3.00 3.00 3.00 3.00 -
Primary - Art
1.00 1.00 1.50 1.00 1.00 1.00 -
Primary - Counselor
1.50 1.50 1.35 1.00 1.00 1.00 -
Primary - Math
- - - 1.00 1.00 1.00 -
Primary - Music
0.40 0.40 0.40 1.00 1.00 1.00 -
Primary - PE
1.00 1.00 1.00 2.00 2.00 2.00 -
Primary - Reading Specialist
- - 0.34 1.00 1.00 1.00 -
Primary - Spanish
1.00 1.00 1.00 2.00 2.00 2.00 -
Primary Staffing 17.90 19.90 23.59 27.00 27.00 27.00 -
Secondary - Art
- - 1.32 2.32 2.16 1.50 (0.66)
Secondary - Business Mgmt./CTE - - - - 0.50 0.50 -
Secondary - Counselor
1.50 1.50 1.35 1.00 1.30 2.00 0.70
Secondary - Economics
- - 1.00 1.00 1.00 1.00 -
Secondary - English
3.00 3.00 4.00 3.50 3.50 3.50 -
Secondary - Foreign Language
3.34 4.34 4.34 4.32 4.00 4.00 -
Secondary - Grade 6
3.00 2.00 3.00 3.00 3.00 3.00 -
Secondary - Humanities
4.00 4.25 3.75 3.92 4.25 4.25 -
Secondary - Math
3.00 3.00 5.00 5.50 5.50 5.50 -
103
PERSONNEL & PAYROLL OVERVIEW
Positions
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY 16/17
Estimated
FY 17/18
Proposed Change
Secondary - Personal Project
- - - 0.50 0.50 0.50 -
Secondary - Science
3.50 3.66 3.50 4.00 3.84 4.34 0.50
Secondary - CTE/STEM
- - - - - 0.50 0.50
Secondary Staffing 24.50 24.91 30.92 32.06 32.55 33.59 1.04
Teaching Aides
5.87 6.07 8.00 8.50 8.00 7.00 (1.00)
Librarian/Aide
1.00 1.00 1.00 1.00 1.00 1.00 -
Nurse
1.00 1.00 1.00 1.00 1.00 1.00 -
Office Aide
3.00 3.00 4.10 4.00 4.00 4.00 -
Registrar
1.00 1.00 1.00 1.00 1.00 1.00 -
Support Staffing 13.27 13.97 18.10 15.50 15.00 14.00 (1.00)
Diagnostician/ Literacy
- - - - 1.00 1.00 -
IT Integration
1.00 1.00 1.00 1.00 1.00 1.00 -
Special Education
2.00 2.00 3.00 3.25 3.00 3.00 -
Speech
0.17 0.17 - 1.00 - - -
Strings Staff
0.33 0.33 1.00 1.00 1.00 - (1.00)
Specialist Staffing 3.50 3.50 5.00 6.25 6.00 5.00 (1.00)
WAF Director
1.00 1.00 1.00 1.00 1.00 1.00 -
WAF Office Aide
0.50 0.50 0.50 0.50 0.50 0.50 -
Foundation Staffing 1.50 1.50 1.50 1.50 1.50 1.50 -
Facilities Technician
1.00 1.00 1.00 1.00 2.00 2.00 -
Facilities Staffing 1.60 1.60 2.00 2.00 2.00 2.00 -
IT Coordinator
- - - 1.00 1.00 1.00 -
IT Tech
1.80 1.80 1.10 1.00 1.00 1.00 -
IT Dept. Staffing 1.80 1.80 1.10 2.00 2.00 2.00 -
Total Positions
70.57 74.68 90.21 95.31 95.05 93.09 (1.96)
104
PERSONNEL & PAYROLL OVERVIEW
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 Adjustments
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.
105
Assistant .50
C ITIZENS OF W ESTLAKE
Finance
ASSISTANT TOWN
MANAGER
Fire Chief
Human Resources
Public Works
Planning &
Development
Town Secretary
Supervisor
Deputy Clerk
Marshal
Communications
Information
Technology
Police Services
(contracted thru the
City of Keller)
Manager
TOWN MANAGER &
Facilities
Maintenance .50
Lieutenants
(3)
2 Part Time
Court Clerks
Court
Administrator
PT Firefighter
Paramedics 24
HR Generalist
Academic
Acctg Tech II
WA Technician Assistant .50
Advisory Boards
And Committees
Town Attorney
Court Judge
Texas Student Housing
Deputy Chief
Fire Marshal
Technician Coordinator
Building Inspector
Permit Clerk
Coordinator
Municipal
Acctg Tech II
Intern .50
This organizational chart is a visual depiction of the way work is distributed within the Town of
Westlake. 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.
Assistant .50
M AYOR AND T OWN C OUNCIL
Project Manager
WA SUPERINTENDENT
continued on next page
Parks and
Recreation .50
FT Firefighter
Paramedics 9
WA
Coordinator
WA
Technician
Network
Manager
106
WA SUPERINTENDENT
BOARD OF TRUSTEES
Heads of
Department
Grade Level
Team Leads
SPED Coordinator
Primary Principal
SPED Faculty
and Staff
Primary Assistant
Principal
Primary Curriculum
Coordinator
Primary Counselor
Primary Faculty
and Staff
WESTLAKE ACADEMY
EXECUTIVE DIRECTOR
Librarian
Technology
Coordinator
Secondary
Principal
Secondary Counselor
College Counselor
MYP/DP Faculty
and Staff
Registrar
Administrative
Staff
Secondary Assistant
Principal
Athletic Director
Student Life Coord
Secondary Curriculum
Coordinator
continued from previous page
Administrative
Staff
Executive Director
W.A. Foundation
Assistant
This organizational chart is a visual depiction of the distribution of work within Westlake Academy
107
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.
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, 1500 Solana Blvd, Bldg 7 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 2019
Back Left to Right
• Rick Rennhack Term expires May 2019
• Michael Barrett Term expires May 2018
• Wayne Stoltenberg Term expires May 2019
108
WESTLAKE ACADEMY LEADERSHIP TEAM
*THOMAS E. BRYMER
SUPERINTENDENT OF SCHOOLS DR. MECHELLE BRYSON
EXECUTIVE DIRECTOR
*Amanda DeGan
Assistant
Town Manager
Alan Burt
Director of Athletics
Student Life Coordinator
*Debbie Piper
Director
of Finance
Rod Harding
Primary (PYP)
Principal
*Troy Meyer
Director
of Facilities
Beckie Paquin
Primary (PYP)
Assistant Principal
*Jason Power
Director of
Information Technology
Alison Schneider
PYP Coordinator
Primary Curriculum Coordinator
*Ginger Awtry
Director of Communications
& Community Affairs
Stacy Stoyanoff
Secondary Principal
(MYP/DP)
*Todd Wood
Director of Human Resources
And Administrative Services
Jennifer Furnish
Secondary Assistant Principal
TEA/Charter Compliance Coordinator
*Asterisk denotes shared services
personnel between the academic
and municipal service teams of
the Town of Westlake.
Terri Watson
MYP/DP coordinator
Secondary Curriculum Coordinator
Dr. Shelly Myers
Executive Director of the WAF
& Director of Development
109
ORGANIZATIONAL STRUCTURE
MUNICIPAL OVERSIGHT
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 appoint 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.
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.
Town Manager /
Superintendent
Executing the Board of Trustees adopted policies and hiring and
managing all employees and department directors
Assistant Town
Manager /
Superintendent
Supporting the Town Manager / Superintendent in his assigned
duties, overseeing departmental directors and working on special
projects as assigned
Finance
Department
Financial oversight of accounts payable, accounts receivable, payroll,
general ledger, journal entries, capital projects, fixed assets,
depreciation; revenues, expenditures, assets, liabilities, and
coordinating the annual budget and audit processes for both
Municipal and Academic services
Human Resource
Department
Managing personnel needs for both the Municipal and Academic
staff
110
ORGANIZATIONAL STRUCTURE
ACADEMIC MANAGEMENT
EXECUTIVE DIRECTOR
The Executive Director is the instructional leader for the whole
school as well as administrative head.
This position is responsible for implementing board policies and
direction from the Superintendent, and heads the instructional
leadership team (ILT) 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 and focuses on the development of the whole child as an inquirer, in and beyond the
classroom walls.
• The PYP Principal is responsible for ensuring proper implementation of the IB curriculum, student
achievement as well as recruiting, mentoring, and retaining talented faculty.
• The Primary Years Principal is a member of the ILT.
PRIMARY ASSISTANT PRINCIPAL
• The PYP Assistant Principal is also an instructional leader for the PYP.
• The PYP Assistant Principal supports the efforts of the Primary Principal in carrying out the duties of the
programme.
• The PYP Assistant Principal also supports the proper implementation of the IB curriculum, student
achievement as well as supports the positive culture and climate of the programme.
• The PYP Assistant Principal is a member of the ILT.
PRIMARY YEARS CURRICULUM COORDINATOR
• The PYP Curriculum Coordinator is primarily responsible for the vertical and horizontal articulation of
curriculum.
• The position supports the efforts of the Primary Principal in ensuring the proper implementation of the
PYP IB curriculum.
• The main responsibility is to work with staff to develop, maintain and review curriculum, while
developing and delivering effective staff development to support the IB mission.
• The PYP Curriculum Coordinator is a member of the ILT.
SECONDARY PRINCIPAL (MYP & DP)
• The Secondary Principal is the instructional leader for the Middle Years Programme (MYP) and the
Diploma Programme (DP).
• The MYP is a curriculum framework for children in grades six through ten that prepares students to
make connections between their studies and the real world. It is designed to prepare students for the
Diploma Programme.
• The DP is a challenging two-year curriculum for students in grades 11 and 12 that provides an inquiry
based, college preparatory education.
111
ORGANIZATIONAL STRUCTURE
ACADEMIC MANAGEMENT
• This position is responsible for ensuring proper implementation of the IB curriculum, student
achievement as well as recruiting, mentoring, and retaining talented faculty.
• The Secondary Principal is a member of the ILT.
SECONDARY ASSISTANT PRINCIPAL
• The Secondary Assistant Principal is also an instructional leader for the MYP and the DP.
• The Secondary Assistant Principal supports the efforts of the Secondary Principal in carrying out the
duties of the programme.
• The Secondary Assistant Principal also supports the proper implementation of the IB curriculum, student
achievement as well as supports the positive culture and climate of the programme.
• The Secondary Assistant Principal is a member of the ILT.
SECONDARY CURRICULUM COORDINATOR
• The Secondary Curriculum Coordinator is mainly responsible for the vertical and horizontal articulation
of curriculum.
• This position supports the efforts of the Secondary Principal in ensuring the proper implementation of
the MYP and DP IB curriculum.
• The main responsibility is to work with staff to develop, maintain and review curriculum, while
developing and delivering effective staff development to support the IB mission.
• The Secondary Curriculum Coordinator is a member of the ILT.
ATHLETIC DIRECTOR AND STUDENT LIFE COORDINATOR
• The Athletic Director/Student Life Coordinator is primarily responsible for the development of the co-
curricular and extra-curricular activities of the Academy.
• The Athletic Director/Student Life Coordinator designs, implements and supports activities that build the
student’s leadership capacity and enriches their social and emotional growth.
• The position interfaces with principals in scheduling events that enrich the learning environment.
• The Athletic Director/Student Life Coordinator is a member of the ILT.
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 Drive, Baja, Gallery Night, grant applications, and other Academy or Foundation
related solicitations.
• The Executive Director of the Education Foundation is a member of the ILT.
112
113
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114
IB PROGRAMME OVERVIEW
Westlake Academy is authorized by the International Baccalaureate (IB) to offer:
• Primary Years Programme (PYP) – grades K-5
• Middle Years Programme (MYP) – grades 6-10
• Diploma Programme (DP) – grades 11-12
These three linked curricula form the IB Continuum and all three programmes are
consistent in their pedagogical approach.
• The PYP gives students an excellent foundation for the IB’s other
programmes, providing the essential elements that young students
need to equip themselves for successful lives, both now and in the
future.
• The MYP builds on the knowledge, skills, and attitudes developed
by the Primary Years Programme and prepares students for the
demanding requirements of the Diploma Programme.
• All three programmes are philosophically aligned, each centered
on developing attributes of the IB learner profile, described below.
When schools implement the full continuum of IB programmes, students realize
several benefits including:
• Improved standardized test scores.
• An understanding and appreciation of the world’s cultures and
histories among their students.
• A sense of community and shared goals among parents, students,
teachers, and administrators.
• Graduates complete college faster than their peers, feel more
prepared for college-level coursework involving research, and
are better able to cope with demanding workloads and
time-management challenges.
International
Baccalaureate® (IB)
programmes aim to do
more than other curricula
by developing inquiring,
knowledgeable and caring
young people who are
motivated to succeed.
We strive to develop
students who will build a
better world through
intercultural
understanding and
respect.
IB programme frameworks
can operate effectively
with national curricula at
all ages; more than 50% of
IB World Schools are state-
funded.
The International
Baccalaureate (IB) offers a
continuum of international
education. The
programmes encourage
both personal and
academic achievement,
challenging students to
excel in their studies and
in their personal
development.
All IB programmes are
flexible, enabling teachers
to respond to local
requirements.
The Academy prepares
students for all
standardized testing
required by the State of
Texas, but endeavors to do
so in a much more
transdisciplinary manner
and without “teaching to
the test.”
115
116
IB LEARNER PROFILE
The IB learner profile represents 10 attributes valued by IB World Schools. We believe these attributes, and others like
them can help to develop internationally minded people, who recognizing their common humanity and shared guardianship
of the planet, will help to create a better and more peaceful world.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
117
IB ATTITUDES
Appreciation - Appreciating the wonder and
beauty of the world and its people.
Commitment - Being committed to their own
learning, persevering and showing self-
discipline and responsibility.
Confidence - Feeling confident in their ability as
learners, having the courage to take risks,
applying what they have learned and making
appropriate decisions and choices.
Cooperation - Cooperating, collaborating, and
leading or following as the situation demands.
Creativity - Being creative and imaginative in
their thinking and in their approach to problems
and dilemmas.
Curiosity - Being curious about the nature of
learning, about the world, its people and
cultures.
Empathy - Imagining themselves in another’s
situation in order to understand his or her
reasoning and emotions, so as to be open-minded
and reflective about the perspectives of others.
Enthusiasm - Enjoying learning and willingly
putting the effort into the process
Independence - Thinking and acting
independently, making their own judgments
based on reasoned argument, and being able to
defend their judgments
Integrity - Being honest and demonstrating a
considered sense of fairness.
Respect - Respecting themselves, others and
the world around them.
Tolerance - Being sensitive about differences
and diversity in the world and being responsive
to the needs of others.
118
PRIMARY YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Primary Years Programme (PYP) – grades K-5
Department Contact Information
Rod Harding
Primary Principal
rharding@westlakeacademy.org
Program Service Description
The PYP is a 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
outside world.
By emphasizing critical thinking and fostering the
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.
119
PRIMARY YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Primary Years Programme (PYP) – grades K-5
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).
The following tables display student standardized test performance for the last three years, including
mastery at the advanced level. Data for the 2017/18 school year are projections based upon Westlake’s
goal to have a Level III rate of at least 50% in all subjects tested.
READING
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 3
2014-2015 94% 47%
2015-2016 97% 58%
2016-2017 96% 62%
2017-2018 100% 70%
Grade 4
2014-2015 98% 38%
2015-2016 96% 41%
2016-2017 97% 47%
2017-2018 100% 65%
Grade 5
2014-2015 98% 38%
2015-2016 100% 36%
2016-2017 98% 55%
2017-2018 100% 70%
WRITING
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 4
2014-2015 93% 20%
2015-2016 89% 37%
2016-2017 81% 16%
2017-2018 93% 50%
120
PRIMARY YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Primary Years Programme (PYP) – grades K-5
SCIENCE
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 5
2014-2015 87% 20%
2015-2016 88% 2%
2016-2017 98% 33%
2017-2018 100% 50%
MATH
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 3
2014-2015 89% 21%
2015-2016 97% 24%
2016-2017 100% 55%
2017-2018 100% 70%
Grade 4
2014-2015 94% 35%
2015-2016 89% 30%
2016-2017 97% 44%
2017-2018 100% 70%
Grade 5
2014-2015 96% 41%
2015-2016 100% 38%
2016-2017 100% 57%
2017-2018 100% 70%
121
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
Department Contact Information
Stacy Stoyanoff
Middle Years Principal
sstoyanoff@westlakeacademy.org
Program Service Description
MYP is a challenging framework that encourages students to make practical connections between their
studies and the real world. The programme aims to develop active learners and internationally minded
young people who can empathize with others and 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 globally. The result is young people who are creative, critical, and reflective thinkers.
The Years Programme (MYP) comprises eight
subject groups:
Language acquisition
Science
Language and literature
Individuals and societies
Arts
Design
Physical and health education
Mathematics
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.
122
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
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). The following tables display student standardized test performance
for the last three years, including mastery at the advanced level. Data for the 2017/18 school year are
projections based upon Westlake’s goals.
READING
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 6
2014-2015 100% 54%
2015-2016 97% 50%
2016-2017 93% 44%
2017-2018 100% 65%
Grade 7
2014-2015 99% 58%
2015-2016 97% 50%
2016-2017 100% 57%
2017-2018 100% 57%
Grade 8
2014-2015 100% 65%
2015-2016 100% 45%
2016-2017 96% 58%
2017-2018 100% 65%
WRITING
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 7 2014-2015 97% 39%
2015-2016 99% 28%
2016-2017 93% 31%
2017-2018 100% 50%
HUMANITIES
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 8
2014-2015 99% 31%
2015-2016 99% 55%
2016-2017 91% 53%
2017-2018 100% 65%
123
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
ENGLISH
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
9 English I
2014-2015 100% 60%
2015-2016 99% 46%
2016-2017 99% 32%
2017-2018 100% 50%
10 English II
2014-2015 99% 24%
2015-2016 100% 35%
2016-2017 96% 22%
2017-2018 100% 50%
SCIENCE
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 8
2014-2015 97% 28%
2015-2016 99% 39%
2016-2017 93% 19%
2017-2018 100% 50%
Biology EOC
Grade 9
2014-2015 99% 38%
2015-2016 100% 46%
2016-2017 100% 53%
2017-2018 100% 65%
MATH
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
Grade 6
2014-2015 97% 20%
2015-2016 97% 35%
2016-2017 99% 44%
2017-2018 100% 60%
Grade 7
2014-2015 94% 39%
2015-2016 97% 38%
2016-2017 94% 62%
2017-2018 100% 70%
Algebra I
2014-2015 100% 52%
2015-2016 99% 55%
2016-2017 99% 44%
2017-2018 100 60%
124
DIPLOMA YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Diploma Programme (DP) – grades 11-12
Department Contact Information
Stacy Stoyanoff
Diploma Years Principal
sstoyanoff@westlakeacademy.org
Program Service Description
DP students study six subject groups, including language acquisition, language and literature, individuals
and societies, mathematics, the arts, and sciences. Normally three subjects are studied at a higher level
(courses representing 240 teaching hours) 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
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?".
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.
125
DIPLOMA YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Diploma Programme (DP) – grades 11-12
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 A1,
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).
The following table displays student standardized test performance for the last three years, including
mastery at the advanced level. Data for the 2017/18 school year are projections based upon Westlake’s
goals.
HUMANITIES
Grade Level
Comparison
Year Passed
Mastered at
Advanced Level
U.S. History EOC
Grade 11
2014-2015 100% 62%
2015-2016 100% 71%
2016-2017 100% 70%
2017-2018 100% 75%
126
ENROLLMENT BOUNDARIES
59.0%41.0%32.0%23.0%
60.0%
18.0%
24.0%27.0%30.0%
15.0%
11.0%17.0%20.0%23.0%
15.0%
12.0%18.0%21.0%24.0%10.0%
0%
20%
40%
60%
80%
100%
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Adopted
FY16/17
Amended
FY 17/18
Proposed
Students by ISD
Other
Northwest
Carroll
Keller
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
Academy, demand for entrance
exceeding capacity may
necessitate that child being
placed on the waiting list.
Westlake Academy’s secondary boundaries are comprised of the following Independent 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
127
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 added 339
students since FY 09/10 as the result of
increased demand and planned
expansions.
The Academy will be able to serve
approximately 856 students in the
2017/18 school year.
Future enrollment must be carefully
managed to ensure adequate space for
primary boundary residents.
We plan to maintain an average class
size
•19 students per class in grades K-5
•25 students per class in grades 6-12.
The Academy currently has over 2,400
students on a waiting list spanning
kindergarten through grade eleven.
The waiting list is developed each year
through a lottery process that allows the
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 capacity may necessitate that
child being placed on the waiting list.
Enrollment forecasting is based on
several items;
•Lottery Waiting list
•Residents choosing the Academy
•Residential growth
•Facility Master Plan
All the above circumstances are
reviewed continually to assess to
appropriate enrollment for each school
year.
658 697 812 825 866 830 856
FY 12/13
Actual
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Adopted
FY16/17
Amended
FY 17/18
Proposed
Student Enrollment History
830
856 866 876 886 896
FY16/17
Amended
FY 17/18
Proposed
FY 18/19
Projected
FY 19/20
Projected
FY 20/21
Projected
FY 21/22
Projected
Student Enrollment Forecast
$10,611
$10,073
$9,722 $9,632 $9,686 $9,617
FY 15/16
Actual
FY16/17
Amended
FY 17/18
Proposed
FY 18/19
Projected
FY 19/20
Projected
FY 20/21
Projected
Expenditures per Student
(Academic only)
2,177
2,400
2,314
2,411
FY 14/15
Actual
FY 15/16
Actual
FY 15/16
Actual
FY 17/18
To-Date
Lottery Waiting List
128
BENCHMARKING DATA
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.
For 2017, Westlake Academy was awarded a four and one-half star rating from Texas State Comptroller’s FAST
School District Rating System for providing quality education at a reasonable per student cost. As Westlake’s
enrollment increases, efficiencies will further improve and, subsequently will reduce per student cost.
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 2017 TXSmartSchools results are based on data
from the 2013-2014, 2014-2015 and 2015-2016 school years.
Spending Index Very Low Spending
Composite Academic Progress Quintile Very High Academic Progress
TEA Accountability Rating Met Standard
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.
District Name
Total
Students
Composite
Academic
Progress
Percentile
Adjusted
Spending
Per Student
Charter
School
%
LEP
% Special
Education
% Student
Mobility
Texas School of the Arts 327 0.027 $6,838 1 3.1 2.8 7.6
Treetops School International 392 0.053 $6,682 1 0.0 5.6 9.9
East FW Montessori Academy 497 -0.008 $7,811 1 32.6 3.6 10.3
Chapel Hill Academy 506 0.096 $7,731 1 5.7 5.9 5.9
Fort Worth Academy of Fine Arts 516 0.077 $7,394 1 0 2.3 5.1
Westlake Academy 831 0.199 $9,711 1 0.4 3.9 7.7
Newman International Academy 1,280 -0.059 $7,498 1 8.0 6.3 15.5
Arlington Classics Academy 1,442 0.085 $5,815 1 4.6 3.7 12.2
129
BENCHMARKING DATA
PER-PUPIL
EXPENDITURE
COMPARISON
FY 15/16 increase was due to additional
expenditures related
to the use of designated fund
balance for technology needs
STUDENT
TEACHER
RATIO
COMPARISON
INTERNATIONAL BACCALAUREATE
DIPLOMA RECIPIENT RATE
Historically, Westlake Academy has graduated
college-ready students who have successfully earned
the IB Diploma. In the early years, sitting for the IB
Exam was optional for students, and as such the
Diploma recipient rate exceeded the world average.
In 2015, all seniors were required to sit for the IB
Exam, which caused the overall recipient rate to
decrease.
Fiscal Year
Westlake
Academy
Carroll
ISD
Northwest
ISD
Keller
ISD
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 * 10,611 Data N/A 8,499 8,446
16/17 Estimated 10,073 Data N/A Data N/A Data N/A
17/18 Adopted 9,722 Data N/A Data N/A Data N/A
Fiscal Year
Westlake
Academy
Keller
ISD
Northwest
ISD
Carroll
ISD
State
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 12.0 16.6 16.0 14.9 15.4
14/15 13.4 15.6 15.4 14.8 15.2
15/16 12.6 15.4 Data N/A Data N/A 15.2
16/17 Estimated 12.7 Data N/A Data N/A Data N/A Data N/A
17/18 Adopted 13.0 Data N/A Data N/A Data N/A Data N/A
Graduation
Year
IB Diplomas
Earned
Diploma
Recipient
Rate
World
Average
Pass Rate
2010 12 out of 21 57.1% 78.1%
2011 25 out of 29 86.2% 77.9%
2012 24 out of 27 88.9% 78.5%
2013 29 out of 35 82.9% 79.0%
2014 38 out of 48 79.2% 79.3%
2015 34 out of 51 66.7% 80.8%
2016 39 out of 61 64.0% 79.3%
2017 45 out of 64 70.3% NA
130
BENCHMARKING DATA
78
64
77
53
46
54
62
56.2 56.8 57.4 59.5 57.9 57.9 57.9
0
10
20
30
40
50
60
70
80
90
2011 2012 2013 2014 2015 2016 2017
% Exams Scoring 3+% Global Exams Scoring 3+
WESTLAKE ACADEMY
SCHOOL STATISTICS
The chart below reflects Westlake Academy’s
average student score on the IB Diploma Exam. To
receive the prestigious IB Diploma, students must
receive a minimum of 24 points.
As a result of successful achievement at an
advanced level, Westlake Academy scores well
above the passing rate.
ACCELERATED PROGRAM PARTICIPATION
Over the course of Westlake Academy’s history, student
participation in the Accelerated Program (AP) has increased,
especially over the last three years. With the increased
participation in AP courses and subsequent testing, the
Academy strives to produce scores above the global exam
passing rate. If the trend continues, 2017 AP scores will be
above the global passing rate despite the set-back experienced
in 2014 through 2016.
ACCELERATED PROGRAM PASS RATE
Year
Diploma
Candidates
Average
Points
earned
Average IB
Score
Earned
Highest
Point
Total
2010 21 31 4.89 37
2011 29 31 5.02 42
2012 27 30 4.78 37
2013 35 30 4.9 40
2014 48 29 4.76 36
2015 51 29 4.49 35
2016 61 29 4.64 39
2017 64 31 4.96 44
Year
Total AP
Students
Total AP
Exams
2011 26 53
2012 30 87
2013 34 71
2014 49 131
2015 114 209
2016 111 197
2017 161 295
Year
% Exams
Scoring 3+
Global
Exams
Scoring 3+
2011 78 56.2
2012 64 56.8
2013 77 57.4
2014 53 59.5
2015 46 57.9
2016 54 57.9
2017 62 57.9
131
96
45 72
96
Student Achievement
(Target Score = 60)
Student Progress
(Target Score = 17)
Closing Performance
Gaps (Target Score =
30)
Post Secondary
Readiness (Target
Score = 60)
PERFORMANCE INDEX REPORT
TEXAS EDUCATION AGENCY
2017 ACCOUNTABILITY SUMMARY
ACCOUNTABILITY RATING
Met Standards On Did Not Meet Standard on
Student Achievement -NONE-
Student Progress
Closing Performance Gaps
Post-Secondary Readiness
In 2017 to receive a “Meet Standard” or “Met Alternative Standard” rating, districts and
campuses must meet targets on three indexes: Index 1 or Index 2 and Index 3 and Index 4
This link will take you to the Westlake Academy School Profile and Accountability page
https://www.westlakeacademy.org/apps/pages/index.jsp?uREC_ID=316120&type=d&pREC_ID=868106
DISTINCTION DESIGNATION
Academic Achievement in ELA/Reading
DISTINCTION EARNED
Academic Achievement in Mathematics
DISTINCTION EARNED
Academic Achievement in Science
DISTINCTION EARNED
Academic Achievement in Social Studies
DISTINCTION EARNED
Top 25 Percent Student Progress
DISTINCTION EARNED
Top 25 Percent Closing Performance Gaps
DISTINCTION EARNED
Post-Secondary Readiness
DISTINCTION EARNED
CAMPUS DEMOGRAPHICS
Campus Type Elementary/Secondary
Campus Size 843 students
Grade Span KG - 12
% Economically Disadvantaged 0.0
% English Language Learner 0.2
% Served by Special Education 4.2
PERFORMANCE INDEX SUMMARY
Met Standards On
Points
Earned
Maximum
Points
Index
Score
Student Achievement 1,336 1,393 96
Student Progress 624 1,400 45
Closing Performance Gaps 715 1,000 72
Post-Secondary Readiness
• STAAR Score 20.6 - -
• Graduation Rate Sore 25.0 - -
• Graduation Plan Score 25.0 - -
• Post-Secondary Component Score 25.0 - 96
SYSTEM SAFEGUARDS
Number and Percentage of Indicators Met
Performance Rates 15 out of 15 = 100%
Participation Rates 8 out of 8 = 100%
Graduation Rates 2 out of 2 = 100%
Total 25 out of 25 = 100%
132
ACADEMIC ACHIEVEMENTS
N ATIONAL R ECOGNITION
Washington Post Challenge Index - Westlake Academy was ranked #35 of all
high schools in the United States
Children at Risk organization - Westlake Academy was ranked #1 of all high
schools in Tarrant County
o ranked #4 in North Texas
o ranked #16 in the State
o Ranked #4 of all middle schools
US News & World Report Best High Schools Ranking - Westlake Academy still
earned a gold medal this past year despite the fact that IBO did not report any
IB exam scores to the prestigious ranking organization.
o Rankings (#43 in Texas High Schools, #71 in US Charter High Schools,
#253 in US High Schools) dropped significantly this year for WA and many IB schools
because of this misstep.
o The publication felt it important to include a note in their annual report
as to why IB schools fell this year in their rankings.
o IBO is working through the issue to ensure this does not happen again.
o According to US News & World Report, Westlake Academy would have
ranked higher than last year’s #58 in US High Schools if the IB data
could have been included with our State information.
Texas Honor School Roll - Westlake Academy was also named to the Educational Results
Partnership and the Institute for Productivity in Education.
Niche Rankings - Westlake Academy was revealed as the 8th best charter high school in Texas.
S TAFF A CCOMPLISHMENTS
Several faculty members continue to represent the International Baccalaureate
as Workshop Leaders, Site Visitors, Examiners and Consultants.
Westlake Academy received the Distinguished Budget Presentation Award
from the Government Finance Officers Association.
The Academy received the Meritorious Budget Award from the Association of
School Business Officials International (ASBO).
133
ACADEMIC ACHIEVEMENTS
S TUDENT A CCOMPLISHMENTS
The 2017 graduating class had 45 students that received the prestigious IB Diploma.
This class also received over $4 million in scholarship and grant offers!
46% of this class applied to a college/university through an Early Admissions Program.
One graduate was named a National Merit Scholar.
One graduate was named a National Merit Hispanic Scholar.
Four graduates were named a National Merit Commended Scholar.
Two graduates received National Merit Scholarships
Ten graduates were named an AP Scholar.
Three graduates were named an AP Scholar with Honor.
Two graduates were named an AP Scholar with Distinction.
All students were accepted into at least one college/university, with many into
top tier schools across the State and the U.S.
N OTABLE S CHOOLS WEHERE WA S TUDENTS WERE A CCEPTED
California Institute of Technology
Colgate University
Cornell University
Davidson College
New York University
Pomona College
Rice University
Syracuse University
United States Military Academy
United States Air Force Academy
University of California, Los Angeles
University of Pennsylvania
University of Southern California
Yale University
134
ACADEMIC ACHIEVEMENTS
N OTABLE S CHOLARSHIPS S TUDENTS W ERE A WARDED
Davidson College – Bryan Scholar
New York University – Martin Luther King Scholarship
Rhodes College – Ralph C. Hon Scholarship
Texas Christian University – Dean’s Scholarship
Texas Christian University – Provost Scholarship
United States Air Force Academy – Service Academy Scholarship
United States Military Academy – Service Academy Scholarship
University of Alabama – Presidential Scholarship
University of Texas at Dallas – Academic Excellence Scholarship
135
WESTLAKE ACADEMY BLACKSMITHS
ATHLETIC ACHIEVEMENTS
Westlake Academy believes athletics to be an integral part
of the student's overall education. Values and lessons
learned benefit that person in his or her future adult life.
Participation in athletics is a privilege, not a right, which
carries with it varying degrees of honor, responsibilities, and
sacrifices.
When a young man or woman signs up for athletics and
becomes a member of the team, they make a commitment.
The student and their parents should know they are
obligated to follow rules and regulations of the program. Every effort should be made by the
student to fully fulfill their commitment.
Realizing that the athletes represent their school, it is the duty of the athlete to conduct themselves
on and off the field of play in a manner that is becoming to themselves, their team, their family, the
Westlake Academy student body and the Westlake community.
Varsity Volleyball Varsity Track & Field Varsity Baseball Varsity Basketball
Varsity Softball Varsity Football Varsity Tennis Varsity Cross Country
Varsity Soccer Varsity Golf Varsity Cheerleading All Girls Soccer
136
WESTLAKE ACADEMY BLACKSMITHS
ATHLETIC ACHIEVEMENTS
The 2016/2017 school year saw 33 High School athletes earn All-State Honors and 56% of the
student body in grades 9-12 participate in at least one sport. 59% 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
State Runner Up District & Regional Champions
Varsity Cross Country Varsity Tennis
Individual Men’s & Women’s State Champion
Men’s & Women’s Team State Champion
District Runner up
Women’s Doubles State Runner Up
Varsity Football Junior High Men’s & Women’s Basketball
State Quarterfinalist Women’s District & Regional Champion
Varsity Men’s Basketball Junior Varsity Men’s Basketball
District & State Champion Regional Runner Up
Varsity Women’s Basketball Varsity Softball
District Runner Up & State Champions State Runner Up
Varsity Men’s Golf Varsity Women’s Golf
District & State Champions –
Individual State Champion
District & State Champions –
Individual State Champion
Varsity Track & Field Junior High Track & Field
Individual State Champions –
Men’s State Runner up
Individual Regional Champions
Women’s Regional Champions
Varsity Baseball Junior High Cross Country
District Champion & State Runner Up Men’s Team Regional Runner Up
137
PARENT SURVEY RESULTS
THE SUMMARY REPORT CONTAINS:
• A summary of the methodology for administering the survey and major findings
• Charts showing the overall results for most questions on the survey
• Trend analysis comparing the survey results for 2016 to previous surveys
• Importance‐Satisfaction analysis
• Tabular data showing the survey results for each question on the survey
• A copy of the survey instrument
• A separate appendix was created with cross tabular data showing the
survey results by grade, and survey comments
MAJOR FINDINGS
Importance of Westlake Academy. Most (90%) of the parents surveyed
who live in the Town of Westlake felt the Academy was “very important”
or “somewhat important” in their decision to move to the Town of
Westlake; only 6% did not feel it was important and 4% indicated “not
sure”.
Overall Satisfaction with the Quality of Education.
Eighty‐three percent (83%) of the parents surveyed were “very satisfied”
or “satisfied” with the overall quality of education provided by Westlake
Academy; 8% were neutral and 8% were dissatisfied.
Satisfaction with Westlake Academy Services and Programs. The
Westlake Academy services and programs that respondents were most
satisfied with, based upon a combination of “very satisfied” and
“satisfied” responses, were:
o Maintenance of the Academy (89%)
o The Security Check‐In System at the Main Entrance (86%
o Satisfaction with the quality of education provided (83%)
o DP Curriculum (83%)
o PYP faculty and staff (83%)
o DP faculty and staff (82%)
o IB (International Baccalaureate) curriculum (82%)
o PYP Curriculum (79%)
o Opportunities for parental involvement (78%)
o Social and emotional progress of your child (76%)
o Academy website (77%)
o Academic progress of your child (75%)
o Effectiveness of the Westlake Academy Foundation (75%)
o Methods of communication from Westlake Academy (74%)
o Effectiveness of the Westlake Academy Athletic Club (WAAC) (74%)
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 presented to the
Board of Trustees in February
2017. ***
During the fall of 2016, ETC
Institute administered a
survey to parents of children
who attended Westlake
Academy. The purpose of the
survey was to gather input
from parents to improve the
overall quality of education
and programs provided by
the Academy. This was the
sixth time ETC Institute has
administered the Westlake
Academy Board of Trustee
Parent Survey; previous
surveys were administered in
2009, 2010, 2011 2013, and
2015. The four‐page survey
was administered by mail and
phone to a random sample of
245 parents.
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PARENT SURVEY RESULTS
Westlake Academy Services and Programs Parents Felt Were Most Important. The top Westlake
Academy services and programs that parents felt were most important were:
o (1) academic progress of children
o (2) social and emotional
o (3) progress of your child
Communication and Outreach. Some of the major findings related to communication and outreach at
the Academy are listed on the following page:
o Seventy‐nine percent (79%) of the parents surveyed agreed the Academy’s teaching,
assessments and learning reflects the IB Philosophy.
o Ninety percent (90%) of the parents surveyed agreed that email is their preferred method of
communication with teachers.
o Sixty‐three percent (63%) of the parents surveyed agreed they receive information from their
child’s school with enough time to be involved in events, classroom or school‐wide activities.
o Eighty‐eight percent (88%) of the parents surveyed agreed that the administration staff at the
Academy were friendly and helpful.
Westlake Communiqué. Some of the major findings regarding the Westlake Communiqué are listed
below:
o Most (92%) of the parents surveyed agreed that the Communiqué provides important school
information.
o Seventy‐three percent (77%) of the parents surveyed agreed that the Communiqué is attractive
and interesting.
o Seventy‐three percent (74%) of the parents surveyed agreed that the Communiqué is easy to
read.
Parental Involvement. Some of the major findings related to parental involvement at the Academy are
provided below:
o Fifty percent (50%) of the parents surveyed indicated they currently volunteer at the Academy.
The average number of hours that parents reported they volunteered each year was 40.5 hours.
Of the 50% of parents that don’t currently volunteer, 32% indicated they would like to
volunteer. Nineteen percent of parents reported they would be willing to serve as an expert in
their field for classroom instruction (i.e., guest speaker).
o Most (89%) of the parents surveyed had attended at least one parent teacher conference during
the past year; this includes 41% who had attended three or
more parent‐teacher conferences during the past year, 36% who
had attended two parent‐teacher conferences, and 12% who
attended only one conference. When asked if they had any
problems scheduling parent‐teacher conferences, ninety‐five
percent (95%) of the parents felt they did not have any
problems scheduling conferences, 5% reported they did have a
problem scheduling a conference.
139
PARENT SURVEY RESULTS
Perceptions of the Academic Progress of Their Children. Eighty percent (80 %) of the parents surveyed
felt their child’s academic progression was “ahead of expectations” or “at expectations;” 21% felt their
child’s progression was “below expectations”. Over three‐fourths (77%) of parents indicated they are
pleased with their child’s progress, and 23% are not pleased.
Parents Continue to Feel Their Children Are Safe at Westlake
Academy. Ninety‐one percent (91%) of the parents surveyed felt their
child was emotionally safe at school; 95% of the parents surveyed felt
their child was physically safe at school.
Special Education Services Provided by the Academy. Of the parents
who had children who used special education services, ninety‐two
percent (92%) were satisfied with the modifications and services
provided by Westlake Academy and 8% were not.
Other Findings.
o Most (85%) parents reported they reference the Academy master calendar on a regular basis
and 15% did not.
o Thirty‐four percent (34%) of the parents surveyed reported their child is receiving off campus
tutoring and the same number of parents (34%) reported their child is receiving on campus
tutoring. On average, parents reported their child receives 3.4 hours of off campus tutoring.
o Seventy‐seven percent (77%) of parents believed they had an adequate understanding of the IB
curriculum while 23% of the parents believed they did not have an adequate understanding of
the IB curriculum.
o Eighty‐four percent (84%) of the parents surveyed felt the rate of frequency of communications
from Westlake Academy is adequate.
o If they were not attending Westlake Academy, 65% of parents indicated their child would most
likely be attending a public school, 34% indicated their child would most likely be attending a
private school, and 1% indicated their child would most likely be home schooled.
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143
INVESTMENT POLICY
I. POLICY STATEMENT
It is the policy of 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
based on 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, considering the Academy's risk constraints and cash
flow needs. A reasonable market yield for the portfolio will be defined as the six-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
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INVESTMENT POLICY
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 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.
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.
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INVESTMENT POLICY
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 if 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;
•• 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.
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INVESTMENT POLICY
• 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 - Collateralization 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
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.
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INVESTMENT POLICY
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.
148
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)
• 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:
1. Operating Budget: Prepare conservatively, estimate revenues, present and adopt the Academy’s
annual operating plan.
2. 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.
3. 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.
4. 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.
5. 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.
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FISCAL AND BUDGETARY POLICIES
6. Grants: Seek, apply for and effectively administer Federal, State, and foundation grants-in-aid which
address the Academy’s current priorities and policy objectives.
7. Fiscal Monitoring: Prepare and present regular reports that analyze, evaluate, and forecast the
Academy’s financial performance and economic condition.
8. 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.
9. 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).
10. 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 (SLAs) 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.
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FISCAL AND BUDGETARY POLICIES
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 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:
• Personnel costs
• Base budget for operations and maintenance costs
• Service level adjustments for increases of existing service levels or additional services
• Revenues
• 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.
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FISCAL AND BUDGETARY POLICIES
IV. REVENUE MANAGEMENT
A. REVENUE DESIGN PARAMETERS. The Academy will strive for the following optimum characteristics in
its revenue system:
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:
1. State Education Funding
2. State and Federal Grants
3. 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.
• Westlake Academy Foundation
• House of Commons
• Westlake Academy Athletic Club
• Local Merchants
• 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.
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FISCAL AND BUDGETARY POLICIES
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 (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.
• Expenditure deferrals into the following fiscal year, short-term loans, or use of one-time revenue
sources shall be avoided to balance the budget.
• 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
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FISCAL AND BUDGETARY POLICIES
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.
General Fund Unassigned Fund Balance (General Fund Reserve) - 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.
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.
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FISCAL AND BUDGETARY POLICIES
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.
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.
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FISCAL AND BUDGETARY POLICIES
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.
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
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FISCAL AND BUDGETARY POLICIES
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 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:
• The asset is owned by Westlake Academy
• 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
• The original cost of the asset must be at least $5,000
• The asset must be tangible
• On-going repairs and general maintenance are not capitalized
• 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
• 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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RISK MANAGEMENT
Westlake Academy is insured through the private market for property, liability, and workers’
compensation coverage. Bids for all insurance programs are obtained on an annual basis, and
selection is based on price, quality of coverage, financial strength of carrier(s), and level of service
provided by brokers. Property and Workers’ Compensation coverage is underwritten through
Travelers Insurance. General liability, auto, and umbrella coverage is provided by Utica. The
Academy also has obtained specialized policies for student accident and international travel.
These policies are carefully selected to meet the needs of our operations and for the 2017-2018
school year, Westlake Academy has a combined insurable property value of $46,424,500. This is a
blanket policy, inclusive of contents and business income coverage. Two buses are insured on the
automobile policy, and a 77-passenger bus was purchased in September 2017 that is not reflected in
the auto policy cost. Student data indicates 856 students are enrolled for the 2017-2018 school year,
a 3% increase of 26 students from the prior year.
Insurance Coverage Summary (September 1, 2017 – August 31, 2018)
COVERAGE CARRIER PREMIUM
Commercial Property Travelers $ 79,545
Workers Compensation Travelers 23,679
Crime Travelers 2,670
General Liability (Education Suite) Utica 13,737
Umbrella – Liability Utica 6,856
Business Auto Utica 2,498
Student Accident Allen J. Flood 4,480
International Travel Chubb 2,000
TOTAL $ 135,465
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161
GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
• Account: A descriptive heading under which are
recorded financial transactions that are similar in
terms of a given frame of reference, such as
purpose, object or source.
• Accounting Period: A period of the end of which,
and for which, financial statements are prepared;
for example, September 1 through August 31.
See also FISCAL PERIOD.
• Accounting Procedure: The arrangement of all
processes which discover, record, and summarize
financial information used to produce financial
statements and reports and to provide internal
control.
• Accounting System: The total structure of
records and procedures which discover record,
classify and report information on the financial
position and operations of a school district or any
of its funds, balanced account groups, and
organizational components.
• Accrual Basis of Accounting: The basis of
accounting, under which revenues are recorded
when earned, and expenditures are recorded as
soon as they result in liabilities, regardless of
when revenue is received or a payment is made.
• Accrue: To record revenues when earned or
when levies are made and to record expenditures
as soon as they result in liabilities, regardless of
when the revenue is received or the payment is
made. Sometimes, the term is used in a
restricted sense to denote the recording of
revenues earned but not yet due, such as
accrued interest on investments and the
recording of expenditures which result in
liabilities that are payable in another accounting
period, such as accrued interest on bonds.
• ADA: Average Daily Attendance is based on the
number of days of instruction in the school year.
The aggregate day’s attendance is divided by the
number of days of instruction to compute
average daily attendance. ADA is used in the
formula to distribute funding to Texas public
school districts.
• Administration: Those activities which have as
their purpose the general regulation, direction,
and control of the affairs of the local education
agency that are system-wide and not confined to
one school subject, or narrow phase of school
activity.
• Appropriation: An authorization granted by a
legislative body to make expenditures and to
incur obligations for specific purposes. An
appropriation is usually limited in amount and as
to the time when it may be expended.
• Academic Excellence Indicators System (AEIS):
A system of indicators established by the
Legislature and adopted by the State Board of
Education to help determine the quality of
learning on a campus and in a school district. The
indicators include passing rates on the state
assessment tests, attendance, graduation rates,
dropout rates, and scores on college entrance
exams. The state will assess district and school
performance compared with state-level
standards. AEIS is the foundation for a school
district's accountability rating.
• Accountability Ratings: The Accountability
Ratings System ranks campuses and districts as
exemplary, recognized, acceptable, and low
performing based on the percentage of students
who pass the state assessment instruments and
the dropout rate.
• Assigned Fund Balance: Reports amount that
are constrained by the government’s intent that
they will be used for specific purposes. Decision
making about these amounts may be made by a
committee or other governmental official.
Compared to Committed Fund Balance, the
resources represented by the Assigned Fund
Balance can be more easily redeployed and the
constraints are not as stringent. Except for the
General Fund, fund balance amounts that are not
labeled as non-spendable, restricted or
committed would be reported in the Assigned
Fund Balance category. Therefore, the Assigned
Fund Balance becomes the residual amount for
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
the Special Revenue Fund, Capital Project Fund
and Debt Service Funds.
• Association of School Business Officials
International (ASBO): The Association of School
Business Official' International, founded in 1910,
is a professional association which provides
programs and services to promote the highest
standards of school business management
practices, professional growth, and the effective
use of educational resources.
• Audit: A comprehensive review of the way the
government's resources were utilized. A certified
public accountant issues an opinion over the
presentation of financial statements, tests the
controls over the safekeeping of assets and
makes recommendations for improvements for
where necessary.
• 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.
• Balance Sheet: A summarized statement, as of a
given date, of the financial position of a local
education agency per fund and/or all funds
combined showing assets, liabilities, reserves,
and fund balance.
• Budget: A plan of financial operation embodying
an estimate of proposed expenditures for a given
period or purpose and the proposed means of
financing them. The budget usually consists of
three parts. The first part contains a message
from the budget-making authority together with
a summary of the proposed expenditures and the
means of financing them. The second part is
composed of drafts of the appropriation,
revenue, and borrowing measures necessary to
put the budget into effect. The third part consists
of schedules supporting the summary. These
schedules show in detail the proposed
expenditures and means of financing them
together with information as to past years' actual
revenues and expenditures and other data used
in making the estimates.
• Budgetary Control: The control management of
the business affairs of the school district in
accordance with an approved budget with a
responsibility to keep expenditures within the
authorized amounts.
• Basic Allotment: The basic allotment is the initial
or starting number that, after adjustment, is used
to calculate foundation program costs and state
aid to school districts and charters.
• Budgetary Basis of Accounting: The method
used to determine when revenues and
expenditures are recognized for budgetary
purposes.
• Capital Expenditures: Capital expenditures are
defined as charges for the acquisition at the
delivered price including transportation, costs of
equipment, land, buildings, or improvements of
land or buildings, fixtures, and other permanent
improvements with a value more than $5,000
and a useful life expectancy of greater than 1
year.
• Career and Technical Education (CTE): The costs
incurred to evaluate, place and provide
educational and/or other services to prepare
students for gainful employment, advanced
technical training or for homemaking. This may
include apprenticeship and job training activities.
• Classification, Function: A function represents a
general operational area in a school district and
groups together related activities; for example,
instruction, campus administration, maintenance
and operations, etc.
• Classification, Object: An object has reference to
an article or service received; for example,
payroll costs, professional and contracted
services, supplies and materials, and other
operating expenses.
• Co-curricular Activities: Direct and personal
services for public school pupils such as
interscholastic athletics, entertainments,
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
publications, clubs, and strings, which are
managed or operated by the student body under
the guidance and direction of an adult, and are
not part of the regular instructional program.
• Coding: A system of numbering, or otherwise
designating, accounts, entries, invoices,
vouchers, etc., in such a manner that the symbol
used reveals quickly certain required
information.
• Consultant: A resource person who aids the
regular personnel through conference,
demonstration, research, or other means.
• Contracted Services: Labor, material and other
costs for services rendered by personnel who are
not on the payroll of the Academy.
• Committed Fund Balance: Represents amounts
that have internally imposed restrictions
mandated by formal action of the government’s
highest level of decision-making authority. The
committed amounts cannot be redeployed for
other purposes unless the same type of formal
action is taken by the highest level of decision-
making authority to reserve or modify the
previously imposed restriction.
• Comprehensive Annual Financial Report (CAFR):
A financial report that encompasses all funds and
component units of the government. The CAFR
should contain (a) the basic financial statements
and required supplementary information, (b)
combining statements to support columns in the
basic financial statements that aggregate
information from more than one fund or
component unit, and (c) individual fund
statements as needed. The CAFR is the
governmental unit's official annual report and
should contain introductory information,
schedules necessary to demonstrate compliance
with finance-related legal and contractual
provisions, and statistical data.
• Cost of Education Index (CEI) or Adjustment: An
index the state uses to adjust the basic allotment
to account for geographic or other cost
differences beyond local school district control.
The current index has not been updated since
1990.
• Current Budget: The annual budget prepared for
and effective during the present fiscal year.
• Current Expenditures per Pupil: Current
expenditures for a given period divided by a pupil
unit of measure (average daily attendance, etc.)
• Debt: An obligation resulting from the
borrowing of money or from the purchase of
goods and services. Debts of local education
agencies include bonds, leases, etc.
• Diploma Programme (DP): A challenging two-
year curriculum for students in grades 11 and 12
that provides an inquiry-based, college
preparatory education. By emphasizing
knowledge, skills, critical thinking and the
fostering and development of universal human
values, students learn the valuable skills of
construction and deconstruction knowledge.
• Education Service Center (ESC): Twenty
intermediate education units located in
regions throughout Texas that assist and
provide services for local school districts.
• Estimated Revenue: This term designates the
amount of revenue expected to be earned during
a given period.
• Expenditures: This includes total charges
incurred, whether paid or unpaid, for current
expense, capital outlay, and debt service.
(Transfers between funds, encumbrances,
exchanges of cash for other current assets such
as the purchase stores and investment of cash in
U.S. Bonds, payments of cash in settlement of
liabilities already accounted as expenditures,
and the repayment of the principal of current
loans are not considered as expenditures.)
• Fiduciary Funds: Fiduciary Funds account for
assets held in a trustee or agent capacity for
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
outside parties, including individuals, private
organizations, and other governments.
• Fiscal Period: Any period at the end of which a
local education agency determines its financial
position and the results of its operations. The
period may be a month, or a year, depending
upon the scope of operations and requirements
for managerial control and reporting.
• Fiscal Year: A twelve-month period to which the
annual budget applies and at the end of which a
local education agency determines its financial
position and the results of its operations. The
District's fiscal year is July 1 through June 30.
• Foundation School Program (FSP): A program
for the support of a basic instructional program
for all Texas school children. Money to support
the program comes from the Permanent School
Fund, Available School Fund, Foundation School
Fund, state general revenue, and local property
taxes. Currently, the FSP described in the Texas
Education Code consists of three parts or tiers.
The first tier provides funding for a basic
program. The second tier provides a guaranteed-
yield system so that school districts have
substantially equal access to revenue sufficient
to support an accredited program. The third tier
equalizes debt service requirements for existing
facilities debt.
• Fund: An independent fiscal and accounting
entity with a self-balancing set of accounts
recording cash and/or other resources, together
with all related liabilities, obligations, reserves,
and equities which are segregated for carrying
on in accordance with special regulations,
restrictions, or limitations.
• Fund Balance: It is the resources remaining
from prior years and which are available to be
budgeted in the current year.
• Furniture: Those moveable items used for
school operation that are not of a mechanical
nature. Chairs, tables, desks, file cabinets,
pictures, chalkboards, lamps, lockers and
carpets, etc., are examples of furniture.
• General Fund: A fund group with budgetary
control used to show transactions resulting
from operations of ongoing organizations and
activities from a variety of revenue sources for
which fund balance is controlled by and
retained for the use by the local education
agency. The General Fund is used to finance the
ordinary operations of a governmental unit
except those activities required to be accounted
for in another fund.
• Government Finance Officers Association
(GFOA): A professional association of
state/provincial and local finance officers in the
United States and Canada, and has served the
public finance profession since 1906. The
association's nearly 15,000 members are
dedicated to the sound management of
government financial resources.
• Governmental Funds: Funds generally used to
account for tax-supported activities. There are
five different types of governmental funds: the
general fund, special revenue funds, debt service
funds, capital projects funds and permanent
funds.
• Grant: A contribution by one governmental unit
to another. The contribution is usually made to
aid in the support of specified function (for
example, job training), but it is sometimes also
for general purposes.
• Independent Audit: An audit performed by an
independent auditor.
• Individual Education Plan (IEP): A document
required by federal law that details the special
education requirements for each disabled
student and explains how the school intends to
address the student's needs. An IEP is intended
to help ensure that disabled students have equal
access to public education in the least restrictive
environment.
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
• Individuals with Disabilities Education Act
(IDEA): The 1997 IDEA strengthens academic
expectations and accountability for the
nation's 5.4 million children with disabilities.
• International Baccalaureate Program (IB): A
non-profit foundation whose mission is to help
students “develop the intellectual, personal,
emotional, and social skills to live, learn and
work in a rapidly globalizing world.” It was
founded in 1968 and runs in over 3,000 schools
in 141 countries. Its Diploma Program (DP) is
designed for high school juniors and seniors, and
offers classes in the same areas as traditional
schools: math, science, English, foreign language,
social studies, and the arts. Additionally,
students have three extra requirements: a class
about the theory of knowledge, a community
service obligation, and an extended essay on a
research topic of their choice. Along the way,
students complete assessments that help them
prepare for the final written exams, which are
graded by external examiners. Upon graduation,
students earn a diploma that is respected
worldwide.
• Middle Years Programme (MYP): A curriculum
framework for children in grades six through
ten that encourages students to make practical
connections between their studies and the real
world. The MYP builds on the knowledge; skills
and attitudes developed by the Primary Years
Programme (PYP) and prepare the students for
the demanding requirements of the Diploma
Programme (DP).
• Modified Accrual Basis of Accounting: Basis of
accounting per which (a) revenues are
recognized in the accounting period in which
they become available and measurable and (b)
expenditures are recognized in the accounting
period in which the fund liability is incurred, if
measurable, except for un-matured interest on
general long-term debt and certain similar
accrued obligations, which should be recognized
when due.
• Non-spendable Fund Balance: Includes amounts
that cannot be spent and are, therefore, not
included in the current year appropriation. Two
components: 1) Not in spendable form –
previously recorded disbursements and include
items that are not expected to be converted into
cash, i.e. inventories, pre-paid items, etc. and 2)
Legally or contractually required to be
maintained intact – refers to an amount that has
been received that must be invested indefinitely,
i.e. a donation received by the government from
a citizen, the principal of which is to be invested
in a permanent fund and the earnings used for
general governmental purposes.
• Object Code: As applied to expenditures, this
term has reference to an article or service
received; for example, payroll costs, purchased
and contracted services, materials and supplies.
• Open-Enrollment Charters: Open-enrollment
charter schools may be established by private
nonprofit organizations, colleges and universities,
and other governmental entities that apply to
the State Board of Education. The law authorizes
the State Board to approve up to 215 open-
enrollment charter schools. Law also provides for
creation of college or university charter schools
at "public senior colleges and universities." There
is no limit on the number of these charter
schools that may be granted. Other charter
programs include home-rule school district
charters and campus or campus program
charters.
• Personnel, Full-Time: Academy employees who
occupy positions with duties which require them
to be on the job on school days throughout the
school year, or at least the number of hours the
school is in session.
• Personnel, Part-Time: Personnel who occupy
positions with duties which require less than full-
time service.
• Primary Years Programme (PYP): A curriculum
framework for children aged 3-12 that prepared
students for the intellectual challenges of future
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
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.
• Proprietary Funds: Funds that focus on the
determination of operating income, changes in
net assets (or cost recovery), financial position,
and cash flows. There are two different types of
proprietary funds: enterprise funds and internal
service funds.
• Public Education Information Management
System (PEIMS): A data management system
that includes information on student
demographics, performance, teacher salaries,
etc. The information for PEIMS is transmitted
from local school districts to the Texas Education
Agency by the education service centers.
• Public Information Act (PIA): PIA defines public
information as information collected, assembled,
or maintained under a law or about a
governmental body's transaction of official
business. PIA provides that public information
must be made available to the public upon
request during the normal business hours of the
district, unless an exception applies that allows
or requires that the information not be made
public.
• Refined ADA: Refined Average Daily Attendance
is based on the number of days of instruction in
the school year. The aggregate eligible day’s
attendance is divided by the number of days of
instruction to compute the refined average daily
attendance. See also ADA.
• Restricted Fund Balance: Reports on resources
that have spending constraints that are either: 1)
externally imposed by creditors, grantors,
contributors or laws and regulations of other
governments, i.e. grants, etc. -or- 2) imposed by
law through constitutional provision or enabling
legislation. The amounts represented by this
fund balance category have very stringent
conditions imposed by external parties or by law.
Therefore, the amounts are restricted to very
specific purposes and cannot be redeployed for
other purposes. The government can be
compelled by an external party to undertake the
spending requirements represented by the
Restricted Fund Balance.
• School Board Authority: Statute gives local
school boards the exclusive power and duty to
govern and oversee the management of the
public schools. Powers and duties not specifically
delegated to the Texas Education Agency or the
State Board of Education are reserved for local
trustees.
• School FIRST Rating: The purpose of the
financial accountability rating system, known as
the School Financial Integrity Rating System of
Texas (FIRST), is to ensure that open-enrollment
charter schools are held accountable for the
quality of their financial management practices
and that they improve those practices. The
system is designed to encourage Texas public
schools to better manage their financial
resources to provide the maximum allocation
possible for direct instructional purposes.
• Special Revenue Funds: Funds that are used to
account for funds awarded to the Academy for
accomplishing specific educational tasks as
defined by grantors in contracts or other
agreements.
• State Board for Educator Certification (SBEC):
S BEC is a quasi-independent body that gives
educators more authority to govern the
standards of their profession. SBEC regulates and
oversees all aspects of the certification,
continuing education, and standards of conduct
of public school educators. As a state agency,
SBEC is responsible for certification testing,
accountability programs for educator
preparation programs, and certification of
teachers and administrators.
• State Board of Education (SBOE): A 15-member
body elected by general election (staggered,
four-year terms) from various regions statewide
to provide leadership and to adopt rules and
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GLOSSARY
This glossary contains definitions of terms used in this document with additional terms as seems necessary to common
understandings concerning financial accounting procedures for schools. Several terms which are not primarily financial
accounting terms have been included because of their significance for school financial accounting.
policies for public education in the state. The
board's primary responsibility is to manage the
Permanent School Fund.
• Teacher Retirement System (TRS): TRS delivers
retirement and related benefits authorized by
law for members and their beneficiaries.
• Technology Allotment: This allotment is part of
the state textbook fund and can be used to
purchase electronic textbooks or technological
equipment that contributes to student leaning or
teacher training. The allotment is $30 per ADA.
• Texas Assessment of Academic Skills (TAAS): A
state-developed test administered each year to
students in grades 3 through 8 and 10 (exit-level)
to determine student achievement levels on
state-established leaning objectives. Replaced by
the Texas Assessment of Knowledge and Skills
(TAKS) effective for the 2002-03 school year.
• Texas Assessment of Knowledge and Skills
(TAKS): TAKS replaces the Texas Assessment of
Academic Skills (TAAS), a criterion-referenced
test used in Texas schools for 12 years. TAKS
began in spring 2003, with tests in reading in
grades 3 through 9; language arts in grades 10
and 11; mathematics in grades 3 through 11. The
11th grade exit-level test will assess English Ill,
algebra I, geometry, biology, integrated
chemistry and physics, early American and U.S.
history, world geography, and world history.
TAKS will be a more challenging examination for
Texas students, per the results of field tests.
• Texas Education Agency (TEA): The
administrative and regulatory unit for the Texas
public education system managed by the
commissioner of education. TEA is responsible
for implementing public education policies as
established by the Legislature, State Board of
Education, and commissioner of education.
• Texas Education Code (TEC): T his code applies to
all educational institutions supported in whole or
in part by state tax funds.
• Texas Essential Knowledge and Skills (TEKS):
S ubject-specific state leaning objectives adopted
by the State Board of Education. The State's
academic tests. [see Texas Assessment of
Knowledge and Skills (TAKS)] are aligned with the
TEKS.
• Texas Open Meetings Act (TOMA): TOMA makes
school board meetings to discuss and decide
public business accessible. The TOMA Decision
requires governmental entities to provide prior
public notice of what is to be discussed and
where and when discussion will take place.
Closed meetings are permitted only when
specifically authorized by law. Civil and criminal
penalties can result when a board violates
provisions of this act.
• Unassigned Fund Balance: The residual fund
balance for the General Fund. It represents the
amount of fund balance remaining after
allocation to the Non-spendable, restricted,
committed and assigned fund balances. This
amount reflects the resources that are available
for further appropriation and expenditure for
general governmental purposes.
• Weighted Students in Average Daily Attendance
(WADA): In Texas, students with special
educational needs are weighted for funding
purposes to help recognize the additional costs
of educating those students. Weighted programs
include special education, career and technical,
bilingual, gifted and talented, and compensatory
education. A weighted student count is used to
distribute guaranteed-yield funding and establish
Chapter 41 thresholds.
168
ACRONYMNS
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
DS 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
169
August 2017 1 September 2017 2 October 2017 3 Date Event
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa AUG 7-9 New Teacher Orientation
1 2 3 4 5 1 2 1 2 3 4 5 6 7 10-16 All Teacher Orientation
6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 17: First Day of School
13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21
20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 SEP 4: Labor Day (No School)
27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 29: All Day Parent/Teacher Conferences
OCT 6: Teacher Professional Day (No School)
9: Columbus Day (No School)
November 2017 4 December 2017 5 January 2018 6 6 6
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa NOV 17: Early Release/Grandparent's Day
1 2 3 4 1 2 1 2 3 4 5 6 20-24: Thanksgiving Break (Staff Flex Days)
5 6 7 8 9 10 11 3 4 5 6 7 8 9 7 8 9 10 11 12 13
12 13 14 15 16 17 18 10 11 12 13 14 15 16 14 15 16 17 18 19 20 DEC 15: Secondary Semester Exams
19 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 27 18: Secondary Semester Exams (Early Release)
26 27 28 29 30 24 25 26 27 28 29 30 28 29 30 31 19: Secondary Semester Exams (Early Release)
31 20: Secondary Semester Exams (Early Release)
JAN 5: Teacher Professional Day (No School)
8: Start of Second Semester
15: Martin Luther King, Jr (No School)
February 2018 7 March 2018 8 April 2018 9 6 6
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa FEB 16: Teachers' Professional Day - (No School)
1 2 3 1 2 3 1 2 3 4 5 6 7 19: Presidents' Day (No School)
4 5 6 7 8 9 10 4 5 6 7 8 9 10 8 9 10 11 12 13 14
11 12 13 14 15 16 17 11 12 13 14 15 16 17 15 16 17 18 19 20 21 MAR 12-16 Spring Break
18 19 20 21 22 23 24 18 19 20 21 22 23 24 22 23 24 25 26 27 28 30: Bad Weather Make-Up Day
25 26 27 28 25 26 27 28 29 30 31 29 30
APR 6: All Day Parent/Teacher Conferences
20: Bad Weather Make-Up Day
23: Teacher Professional Day (No school)
May 2018 10 June 2018 11 July 2018 12 6 6
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa MAY 28: Memorial Day (No School)
1 2 3 4 5 1 2 1 2 3 4 5 6 7 29: G7-G11 Exams/PYP Assessment FULL DAY
6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 14 30-31: G7-G11 Exams/PYP Assessment
13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 (Early Release)
20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28
27 28 29 30 31 24 25 26 27 28 29 30 29 30 31 JUN 1: Secondary Semester Exams (Early Release)
1: Last Day of School
1: Secondary End of 4th Quarter
2: Senior Commencement
4: Teacher Work Day
First / Last Day of School Professional Day Senior Commencement Parent/Student Conferences
Student Holiday
Semester Exams
Early Release Days Bad weather make up No School PYP Assessments
(Early Release)
Westlake Academy
Academic Calendar
School Year 2017-2018
Semester 1 = 80.0 days
Semester 2 = 91.5 days
Total Days = 171.50
170
RESOLUTION OF THE BOARD OF TRUSTEES
171
RESOLUTION OF THE BOARD OF TRUSTEES
172