HomeMy WebLinkAboutRes 18-11 WA Adopting the Revised Operating Budget for Fiscal Year Ending 17-18 and the Budget for Fiscal Year 18-19 WESTLAKE ACADEMY
RESOLUTION NO. 18-11
A RESOLUTION OF THE BOARD OF TRUSTEES OF WESTLAKE ACADEMY TO
ADOPT THE REVISED OPERATING BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2018 AND THE PROPOSED BUDGET FOR FISCAL YEAR ENDING
AUGUST 31, 2019 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 15th, 2018; 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, 2018 and the proposed Westlake
Academy Annual Operating Budget for the fiscal year ending August 31, 2019 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 2018-2019 Budget shall be kept on file
in the office of the Town Secretary.
WA Resolution 18-11
Page 1 of 2
SECTION 5: If any portion of this resolution shall, for any reason, be declared invalid
by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions
hereof and the Council hereby determines that it would have adopted this Resolution without the
invalid provision.
SECTION 6: That this resolution shall become effective from and after its date of
passage.
PASSED AND APPROVED ON THIS 15th DAY OF AUGUST,2018.
Laura'Wheat, President
ATTEST:
�j
L I
Kelly Edw , Board Secretary Thomas E. Brymer, u erintendent
APPROVED AS TO FORM:
Gr
L. Stanton Lowry or Janet S. Bubert,
School Attorney
WA Resolution 18-11
Page 2 of 2
Westlake Academy * 2600 Ottinger Road * Westlake, Texas 76262
www.westlakeacademy.org
A NNIVERSARY
15TH
W ESTLAKEACADEMY
A NNIVERSARY
50TH
INTERNATIONAL
BACCALAUREATE
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
• 7 Westlake Academy Profile – gives a small glimpse into
the Academy and provides and understanding of the IBO
Programmes.
• 9 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 Executive Summary 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.
• 37 Service Level Adjustments – This chart tracks our cost
increases or decreases as a request for any dollars in
excess of the baseline/target budget.
• 38 Strategic Planning & Management 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.
• 44 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.
• 56 Budget Document Structure – explains the budget
document structure required by ASBO for submission for
the Meritorious Budget Award.
• 58 Fund Balance Components - Description of GASB
Statement No. 54 establishing five components of fund
balance.
• Fund/Object/Function Classifications
o 59 Fund Types and Structure
o 61 Account Coding Structure
o 62 Revenue Classifications
o 63 Revenue Allocations
o 64 Expenditure Classifications
o 68 Expenditures Shared Service Model
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 expenditures.
BUDGET GUIDE AND TABLE OF CONTENTS
Westlake Academy, IBO Charter School* 2600 Ottinger Road * Tarrant County, Westlake Texas 76262
ii
• All Governmental Funds
o 75 Governmental Funds Financial Summary
o 78 Combined Statement
o 79 All Governmental Funds
• General Fund
o 81 General Fund Financial Summary
o 83 Combined Statement
o 85 Combining Statement
o 86 Schedule of Expenditures
o 89 Revenue and Expenditure Comparison
o 90 Transporation/Parking Fund 197
o 91 Athletic Activities Fund 198
o 92 General Fund 199
• Special Revenue Funds
o 93 Special Revenue Funds Financial Summary
o 94 Combined Statement
o 95 Combining Statement
• 96 Municipal Debt Service
• 96 Town of Westlake Bond Rating
• 97 Capital Improvement Projects
5. PERSONNEL & PAYROLL
• 101 Personnel Staffing & 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 116 IB Learner Profile
o 118 IB Attitudes
o 119 Enrollment Boundaries
o 120 Student Enrollment
o 121 Primary Years Programme
o 124 Middle Years Programme
o 127 Diploma Years Programme
• Test/Performance/Benchmark Data
o 129 Benchmark Data
o 132 TEA Education Agency Accountability
• Achievements
o 133 Academic Achievements
o 136 Athletic Achievements
• 138 Direction Finder Parent Survey Results
7. POLICY SECTION
• 143 Academic Policies
o 143 Investment Policy
o 148 Fiscal and Budgetary Policies
o 157 Risk Management
o 158 Future Polices to be discussed/implemented
8. APPENDIX SECTION
• 163 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.
• 170 Acronyms – works with the glossary and is a listing of
all abbreviations used within the document.
• 171 Academic Calendar – a calendar showing important
dates within the budgeted school year.
• 172 Resolution to Adopt the Budget – Ordinance to
formally adopt the budget for the next school year.
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15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
This page is intentionally blank
MISSION, VISION & VALUES
Founded in 2003 with a vision 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 was the fifth school in the United States, and the only public
school, to offer the full IB curriculum for grades K-12.
During each year’s budget retreat, great care and consideration is given to review the mission, vision and
values of the Academy and the impact these have on both the long-term goals and its day-to-day operation.
The vision, mission and value statements represent the outcome of these discussions and confirm the
Board’s continued dedication to academic excellence and personal achievement.
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
1
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 2017-2018.
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
2
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 2017-2018 annual
budget. The award has been received annually 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; Marlene Rutledge, Accounting Technician II;
Dr. Mechelle Bryson, Executive Director, and the Instructional Leadership Team for preparing
this award-winning budget for Westlake Academy.
3
The above school district has applied for the Award for Best Practices in School
Budgeting; however, GFOA has not yet completed the review of its application and has
provided this certificate to acknowledge Westlake Academy has made efforts to
implement the new budget process guidelines.
Budget processes are evaluated based on several criteria focusing on alignment of
resources towards student achievement on collaboration, communication and
rigorous development, evaluation, and prioritization of strategies to achieve a districts
goals and objectives. In addition, the criteria includes recommendations for conveying
the results of the budget process through the calendar presentation and utilizing
continuous improvement approaches to monitor the outcomes.
4
AWARD FOR BEST PRACTICES IN SCHOOL BUDGETING
Westlake Academy received the Distinguished Budget Presentation Award annually since September 1, 2009. The
Government Finance Officers Association (GFOA) enhanced the existing award program in 2017 and developed the
Award for Best Practices in School Budgeting. While the new budget process guidelines were implemented with the
2017/2018 budget, GFOA has not yet completed the final review.
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, aligning with
instructional priorities. GFOA recommends the following steps as part of the planning and budgeting process:
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.
• 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.
• Develop principles and policies to guide the budget process. Budget principles and policies formalize
standards and fundamental values that should govern the budgeting process.
• Analyze current levels of student learning. The current state of academic performance must be assessed
to determine what course of action to take.
• 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.
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.
• Develop goals. Goals should be thoughtfully developed and structured to be specific, measurable, and
reasonable to provide a strong foundation for the budget process.
• 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.
• 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.
• 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.
PAY FOR PRIORITIES
Current resources and expenditures must be thoroughly analyzed to find capacity to pay for top instructional
priorities.
• 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.
• 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 weighted to examine whether
the costs, financial or otherwise, of implementing an instructional priority are viable.
5
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.
• 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 successes will be determined.
• Develop a plan of action. Roles and responsibilities for implementing the strategic financial plan should
be made clear for greater accountability.
• Allocate resources to individual school sites. Resources have the most direct impact at school sites
(programmes) and should be allocated transparently and consistent with the district’s overall strategy.
• Develop a budget presentation. A budget document needs to be well organized and clearly lay out the
challenges the district is facing and how the district’s strategies and financial plan will address these
challenges.
ENSURE SUSTAINABILITY
The planning and budgeting process should be one that can be replicated in the future to ensure the district
remains focused and plans accordingly for reaching its student achievement goals.
• 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.
Source: www.gfoa.org/best-practices-school-district-budgeting
Approved by GFOA’s Executive Board: January 2015
6
WESTLAKE ACADEMY PROFILE
Westlake Academy is an Open Enrollment Charter School that opened
September 1, 2003, offering 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 Programme, Middle
Years Programme, Diploma Programme) have
been selected as the educational model utilized at the Academy. Educational
technology is pervasive and continually infused in 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 Westlake
Academy 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 work together and
compete in academic, sporting, and service project events. All siblings are 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 Faculty Liaison. Dawnelle Butler is the
2018-19 House Coordinator, along with Student Council (STUCO) members as the designated leadership
team.
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 holds tales of settlers from the Peters Colony, Indian treaties signed by Sam
Houston, tremendous archaeological treasures, and some of the oldest settlements in North Texas.
In the perspective of Texans, it conjures images of
crystal rivers fed from designer spring waters,
oak trees dipped in Spanish moss and prairies
awash in bluebonnets. Wildlife in all its forms
and a rich history embroiders the tapestry.
Other geographical regions mark the coast, the
mountains and basins, the piney woods, the prairies
and plains, the Trans-Pecos region, but all seem tied
to the historical umbilical cord of the Cross Timbers Hill
Country.
Westlake is an oasis of natural beauty that
maintains open spaces in balance with distinctive
development, trails, and quality of life amenities
amidst an ever-expanding urban landscape.
Nestled in the DFW Metroplex, Westlake is a Gold
Level Scenic City and home to many small
independent businesses and several corporate
campuses
Distinctive developments and
architecturally vibrant
corporate campuses find
harmony among our meandering
roads and trails,
lined with native oaks and stone walls.
We are leaders in education, known for
our innovative partnerships between the
Town –operated Charter school and
our corporate neighbors.
We strive to maintain strong aesthetic standards and preserve
the natural beauty in our town. Hospitality finds its home in
Westlake, as a community, we are family friendly, welcoming, fully
involved and invested in our rich heritage, vibrant present and exciting,
sustainable future.
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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 de-annexed 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.
2017 In July 2017 the Municipal staff move into new office space at the Terrace.
2018 In November 2017 the Fire-EMS Station Groundbreaking event was held on November 9th.
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 occasion 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.
Events & Activities
The Westlake Historical Preservation Society hosts the
following events and activities:
• Annual Decoration Day Ceremony (Spring-Memorial Day)
• Annual Constitution Day Event (September 17)
• Annual Westlake Classic Car Show (Fall)
• Annual Members Reception
• Historical Marker Dedication Day (Spring and/or Fall)
13
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 Prairies: "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 irregular 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.
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.
14
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.
THRASHER
FAMILY HOME
on Dove Road west
of Precinct Line Road,
home of Henry and
Beulah Thrasher on a
40-acre tract bought
in 1938.
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.
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.
15
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 years staggered term each May.
The Town Manager is responsible for carrying out the policies and ordinances of the Council, for
overseeing the day-to-day operations of the Town and appointing and supervising heads of
various departments.
The 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 Government 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.
16
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 138.08 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.
Dept# Department Name FY18/19
10 General Administrative 1.00
11 Town Manager’s Office 2.75
12 Planning and Development 4.00
13 Town Secretary’s Office 1.50
14 Fire Department 15.50
15 Municipal Court 3.50
16 Public Works 4.00
17 Facilities Maintenance 1.75
18 Finance Department 4.00
19 Parks & Recreation .50
20 Information Technology 2.00
21 Human Resources 2.00
22 Communications Department 2.00
99 Education 93.58
Total Employees 138.08
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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 Boulevard exit, and just minutes from your doorstep, Solana houses a few dining
options; La Scala offers traditional Italian and Mar Cocina serves up authentic Mexican 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 your favorite coffee beverages are served daily. Westlake is also surrounded by
excellent dining options in Southlake, Roanoke and Trophy Club.
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TOWN OF WESTLAKE COMMUNITY PROFILE
WESTLAKE COMMUNITY EVENTS
Westlake is a family-friendly environment where events are held, which provide opportunities for our
residents to gather and participate 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!
19
TOWN OF WESTLAKE COMMUNITY PROFILE
WESTLAKE POPULATION
Tarrant County
Unemployment Rate
Source: 2017 Town of Westlake Audit
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
785 803 847 992 1063 1109 1184 1200 1270 1310Population 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
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%
2017 3.20%
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!
20
TOWN OF WESTLAKE COMMUNITY PROFILE
DEMOGRAPHIC AND ECONOMIC STATUS
Source: 2017 Town of Westlake Audit
Calendar
Year
Estimated
Population
Personal
Income
Per Capita
Personal
Income
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
2017 1,310 $ 188,392,333 $ 143,811
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
21
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
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 - Westlake's oldest subdivision, having been platted about 1978, Mahotea
Boone has fourteen lots, eleven of which currently have older homes. It is zoned for minimum two
acre lots and appears to be redeveloping with larger homes. The developer was Bill Boone, who
named the street after his grandmother.
TERRA BELLA - A 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
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.
22
TOWN OF WESTLAKE COMMUNITY PROFILE
RESIDENTIAL SUBDIVISIONS
STAGECOACH HILLS
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
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
Our new Carlyle Court development 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
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
North Texas and is limited to only 92 home sites.
23
TOWN OF WESTLAKE COMMUNITY PROFILE
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.
WESTLAKE EMPLOYERS
Source: 2017 Town of Westlake Audit
COMPANY NAME COUNT PERCENT
Fidelity Investments 5,400 52.3%
Travelocity 880 8.5%
Wells Fargo 617 6.0%
Schwab 526 5.1%
Sabre 500 4.8%
Deloitte 487 4.7%
Verizon Wireless (ALL) 384 3.7%
Goosehead Insurance 200 1.9%
Sound Physicians 173 1.7%
Marriott Solana Hotel 143 1.4%
Levi Strauss 140 1.4%
Vaquero Country Club 135 1.3%
Westlake Academy 95 0.9%
Solera 90 0.9%
Oliver Wyman 80 0.8%
Solana Club/Larry North 57 0.6%
Image Engineering Group LTD 40 0.4%
Town of Westlake 38 0.4%
Quick Trip 36 0.3%
Marsh & McLennan Companies 35 0.3%
Primrose 30 0.3%
Midwest Hospitality, LLC 27 0.3%
Mar-Cosina Tex Mex 20 0.2%
Pfizer, Inc. 17 0.2%
All Other Employers 183 1.8%
10,333 100.0%
Fidelity
Investments
5,400
52%
All Other
Employers
4,933
48%
24
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 1½% in sales tax that is utilized to offset expenditures in the
General Fund (1%) and is used to reduce the property tax burden (½%) on 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.
$4.375
$4.726 $4.925
$4.610 $4.651
$4.950
$5.600
2013 2014 2015 2016 2017 2018 2019
General Sales and Use Tax
(shown in millions)
$710
$796
$872 $822
$752
$854 $854
2013 2014 2015 2016 2017 2018 2019
Hotel Occupancy Tax
(shown in thousands)
25
TOWN OF WESTLAKE COMMUNITY PROFILE
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 a business or residence is
required to pay tax to a particular jurisdiction is determined by where they are located within
Westlake and the boundaries of the respective taxing jurisdictions.
Currently, the following taxing jurisdictions collect property taxes in Westlake:
Independent School Districts; Carroll, Keller and Northwest
Tarrant County; College and Hospital
Denton County and Trophy Club MUD 1
Westlake residents can determine which taxing jurisdictions apply to their
property as well as obtain current property tax rate information by conducting
a property search on the appropriate appraisal district website: Denton Central Appraisal District or
Tarrant Appraisal District.
Top Ten Principal
Property Tax Payers
Total
Taxable
BRE Solana LLC $ 124,718,219
FMR Texas, LLC/LTD
Partnership 78,082,095
Dallas MTA LP 59,605,600
DCLI LLC 49,448,146
HMC Solana LLC 36,105,320
Lexington TNI Westlake LP 17,700,814
Maguire Partners Solana 17,551,836
Fidelity Investments Inc 10,763,028
Marsh USA Inc 9,500,963
Quail Hollow Development 8,242,111
TOTAL $ 411,718,132
Southlake Trophy Club Keller Roanoke Haslet Grapevine Westlake
$0.46200 $0.45140 $0.42750 $0.37510 $0.29030 $0.28930
0.15600
Ad Valorem Tax Comparison per $100
The tax rate for FY2018/2019
will increase by .01985
for a tax rate of $.15600
Currently $.13615
26
TOWN OF WESTLAKE COMMUNITY PROFILE
STANDARD
& POOR’S
RATING SERVICES
In January 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.
DIRECT AND OVERLAPPING PROPERTY TAX RATE
Source: 2017 Town of Westlake Audit
2013 2014 2015 2016 2017
TOWN DIRECT RATES
Ad Valorem Property Tax
General Fund $ 0.14197 $ 0.13888 $ 0.13710 $ 0.13710 $ 0.12882
Debt Service Fund 0.01487 0.01796 0.01924 0.01924 0.00813
SUB-TOTAL DIRECT 0.15684 0.15684 0.15634 0.15634 0.13695
OVERLAPPING RATES
School Districts
Carroll ISD 1.40000 1.40000 1.40000 1.40000 1.39000
Northwest ISD 1.37500 1.45250 1.45250 1.45250 1.45250
Keller ISD 1.54000 1.54000 1.54000 1.54000 1.52000
Counties
Denton County 0.28287 0.28491 0.27220 0.27220 0.24841
Tarrant County 0.26400 0.26400 0.26400 0.26400 0.25400
Other
Tarrant College 0.14897 0.14950 0.14950 0.14950 0.14473
Tarrant Hospital 0.22790 0.22790 0.22790 0.22790 0.22790
Trophy Club Mud #1 0.13339 0.13339 0.13339 0.13339 1.12722
SUB-TOTAL INDIRECT 5.37213 5.45220 5.43949 5.43949 6.36476
TOTAL $ 5.52897 $ 5.60904 $ 5.59583 $ 5.59583 $ 6.50171
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
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28
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
29
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30
EXECUTIVE SUMMARY LETTER
August 15, 2018
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 2018/19.
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
First, this budget reflects Westlake Academy’s commitment to its strategic plan and the initiatives that
support the Academy’s mission, vision, and values. At the core of the Academy is college readiness.
Throughout each Programme in the IB continuum, the objective is to prepare students for post-
secondary success and beyond. There is no doubt that today’s graduates must compete on a global
stage and will need specific 21st century skills to be able to successfully navigate an ever-changing
internationally minded marketplace. As such, alignment to that mission is paramount.
The following is reflective of the budget, which:
shows a steady increase in student enrollment that is indicative of the growth of the Town of
Westlake, and the success the Academy has had in preparing students for post-secondary
achievements.
contains an increase in Career and Technology Education (CTE) funding due to an increase in
student enrollment in CTE courses.
includes a facilities allotment for Charter Schools passed by the 84th Texas Legislative Session.
contains a 3% increase in staff salaries on average to move the salary scale within 0.5% of the
median of surrounding school districts (assuming surrounding school districts implement market
adjustments).
Second, as with our previous budget submittals, this financial information has been prepared according
to conservative revenue projections, i.e., State funding and Westlake Academy Foundation (WAF)
donation levels. This document contains a high-level summary showing WA revenues and expenditures
for FY 2018/2019. Statistical data, summaries, and charts are intended to provide a comprehensive
review of the budget, which will provide both staff and administration with a guidance tool for this year
and a forecast for the future.
This new year will be unique in that we will be celebrating 15 years of educational success at Westlake
Academy! In addition, the IB was founded 50 years ago, paving the way for groundbreaking
developments in international education.
31
EXECUTIVE SUMMARY LETTER
Therefore, with keeping our tradition of utilizing an associated theme focusing on the coming school
year, the theme for FY 2018/2019 is:
GENERAL FUND BUDGET SUMMARY
A public school operating budget is legally required to include the Academy’s General Operating, Debt
Service, and Food Service Funds. Because the Academy does not maintain the latter two, the General
Fund is the only legally adopted fund. For informational purposes only, budgets for Special Revenue
Funds are included throughout the presentation.
Amended
FY 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,477,645 $ 8,847,829 $ 370,184 4%
Total Expenditures 8,455,072 8,710,132 255,060 3.02%
Other Resources 85,000 76,000 (9,000) -11%
Other Uses (85,000) (76,000) 9,000 0%
Excess Revenues Over(Under) Expenditures 22,573 137,697 115,124 510%
FUND BALANCE BEGINNING 939,271 961,844 22,573 2%
FUND BALANCE ENDING 961,844 1,099,541 137,697 14%
Assigned 39,090 34,000 (5,090) -13%
FUND BALANCE ENDING (Unassigned) $ 922,754 $ 1,065,541 $ 142,787 15%
# Days Operating (Based on 365) 40 45 5 12%
Students Enrolled 856 876 20 2%
TEA Funding per Student $ 7,600 $ 7,762 $ 162 2%
Operating Cost per Student $ 9,877 $ 9,943 $ 66 1%
Teachers 66.26 66.08 (0.18) 0%
Student/Teacher Ratio 12.92 13.26 0.34 3%
32
EXECUTIVE SUMMARY LETTER
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 include:
Westlake’s Permanent Population Growth:
• This is the portion of our population considered to be our permanent residents. The growth
from the 1990 population of 185 to 2017’s population of 1,380 represents an increase of 645%
equal to 1,195 additional residents. We continually 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 FY 09/10 to
a projected 876 in FY 18/19. 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 FY 14/15. It was
comprised of a secondary classroom building, field house, and a primary years’ multi-use hall.
These buildings increased our capacity and allowed for decompression of our current school
facilities. The lottery waiting list for student admissions from our secondary boundaries
continues to grow from 705 in 2011 to approximately 1,988 students for this coming school
year.
33
EXECUTIVE SUMMARY LETTER
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 82% 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.
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 18/19 budget year, in accordance with the Board’s financial policies regarding Academy
employee compensation, Staff recommends an average 3% 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.
OUR REGIONAL CHALLENGES:
DFW Metro Area Employment and Population Growth:
• Since 1970, the Dallas Fort Worth Metroplex 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 7.2 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.
34
EXECUTIVE SUMMARY LETTER
III. SHARED SERVICE MODEL
The Academy operates under a shared services model whereby the municipal operations team provides
human resources, financial, facilities, and administrative support services to the school. General
maintenance and replacement of infrastructure and equipment for the school is also expensed to the
municipal budget. 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 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease_
Municipal-Transfer to WA Operating Budget $ 315,000 $ 315,000 $ - 0.00%
Annual Debt Service (Municipal budget) 1,666,337 1,828,791 162,454 9.75%
Major Maintenance and Replacement 289,667 355,595 65,928 22.76%
In-direct Operating Costs 768,469 854,511 86,042 11.20%
Total Municipal Costs $ 3,039,473 $ 3,353,897 $ 314,424 10.34%
IV. FY18 /19 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 operation of Westlake Academy.
The FY 18/19 General Fund budget totals $8,710,132, which represents a 3.02% increase from the prior
year.
It is important to note that $34,000 is earmarked in the Academy’s fund balance for Athletic uniform
and equipment replacement and bus maintenance. The FY 18/19 projections will increase fund balance
by $142,787 for an ending unassigned fund balance of $1,065,541 (45 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 other housing developments and new homes that are currently under
construction. With the estimated increase of 20 students, total enrollment will rise to a projected 876
35
EXECUTIVE SUMMARY LETTER
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.
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 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease)
Operating Expenditures $ 8,140,072 $ 8,395,132 $ 255,060 3.13%
Municipal-Transfer to WA Operating
Budget 315,000 315,000 - 0.00%
Total Academic Costs (General Fund Only) 8,455,072 8,710,132 255,060 3.02%
Annual Debt Service (Municipal budget) 1,666,337 1,828,791 162,454 9.75%
Major Maintenance and Replacement 289,667 355,595 65,928 22.76%
In-direct Operating Costs 768,469 854,511 86,042 11.20%
Total Municipal Costs 2,724,473 3,038,897 314,424 11.54%
TOTAL EXPENDITURE COSTS $ 11,179,545 $ 11,749,029 $ 569,484 5.09%
Number of Students 856 876 20 2.34%
Total Expenditure Cost per Student $ 13,060 $ 13,412 $ 353 2.70%
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.”
36
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. These SLA’s are based on “Base Budget” which reflects the reduction of one-time
expenditures in the prior year. For FY 18/19 academic staff recommends the following adjustments:
61XX SALARY AND RELATED EXPENDITURES $ 2 36,056
Balanced Scorecard Perspective: People, Facilities, & Technology
Outcome Objective: Attract, Recruit, Retain, & Develop the Highest Quality Workforce
Board Policy states a desire to maintain the median salary within three percent (3%) of the
districts surveyed for market comparison purposes. Salary surveys are conducted annually, and
staff is required to estimate market movement using historical trends.
• For FY 18/19, staff recommends adjusting the salary scale to within 0.5% of the
estimated median, resulting in an average pay increase of 3% for faculty and staff.
62XX PROFESSIONAL AND CONTRACTED SERVICES $ 9 ,723
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:
• audiology services in the MYP and PYP programmes
• janitorial services due to the change in service providers
• soccer/tennis field rentals for TCAF-required district and semi-final tournaments
63XX SUPPLIES AND MATERIALS $ 9 4,206
Balanced Scorecard Perspective: Academic Operations
Outcome Objective: Optimize Student Potential
Supplies and material costs are associated with consumables that are used in the classroom and
in the general maintenance of the campus. This amount reflects an increase in:
• funding for security measures overseen by the Emergency Operations Team
• enhanced antivirus software for student and staff computers
• replacement and increase in athletic equipment and supplies
64XX OTHER OPERATING COSTS $ (6 ,2 19)
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, graduation 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 $ 0
Balanced Scorecard Perspective: People, Facilities & Technology
Outcome Objective: Improve Technology, Facilities % Equipment
Debt service costs are associated with a 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 of $167,068, which will continue in to FY 18/19.
37
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…”
38
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.
39
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.
40
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
41
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.
42
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.
43
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
44
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
45
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46
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
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.
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.
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.
BB.. Develop a plan of action. Roles and responsibilities for implementing the strategic financial plan
should be made clear for greater accountability.
48
GFOA BEST PRACTICES IN SCHOOL BUDGETING
IN CONJUNCTION WITH SMASTER SCHOOL SPENDING
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 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 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 current 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 State funding. The development
of the Academy budget for fiscal year 2018/19 began with the Westlake Board of Trustees meeting that was held
in June of 2018.
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 budget will be prepared with the cooperation of all Academy departments and is
submitted to the Superintendent who makes any necessary changes and transmits the document to the Board of
Trustees. A budget preparation calendar and timetable will be established and followed in accordance with State
law.
A “bottom-up” approach is used to solicit input from the staff Leadership Team as to their operations’ needs
with an emphasis on:
• Identifying costs to provide the current level of services.
• Identifies additional cost increases needed to maintain the current level of service.
• Additional resources necessary to provide new or increased levels of service.
• Delineating changes in fund balance levels for each fund.
51
BUDGET OVERVIEW AND PROCESS
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
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.
BUDGET CALENDAR
The Budget Process covers the financial cycle starting with budget planning and ending with the audited annual
financial report.
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.
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.
Timeline Description of Activities
October - December Strategic Plan review and development occurs
December Westlake Academy Instructional Leadership Team (ILT) begins planning
upcoming budget
January ILT meets with Westlake Academy affiliates for joint planning
Jan - March Review and develop Capital Improvement Plan, Five-Year Projection, and
Personnel Cost Estimates
April Develop improvement plans for each grade level and department
May Strategic Plan preparation process occurs; preliminary budgets developed
May Board of Trustees (BOT) Budget Retreat
June Current budget review; budget amendments for current year if necessary
August BOT consideration and adoption of Westlake Academy Budget for Upcoming
School Year
October Annual financial audit
52
BUDGET OVERVIEW AND PROCESS
Academy funds are classified into the following two categories;
• 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.
• 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
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.
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.
The basis of budgeting
and accounting is
shown in the chart
to the right:
Governmental Fund
Annual
Operating Budget
Audited
Financial Statements
General Fund Modified Accrual Modified Accrual
Special Revenue Funds Modified Accrual Modified Accrual
53
BUDGET OVERVIEW AND PROCESS
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 budget to the Board of Trustees
which includes:
• A budget message
• A consolidated statement of anticipated revenues and expenditures for all funds
• Resources for General Fund and Special Revenue Funds in detail
• A summary of expenditures by function and object code
• Detailed estimates of expenditures shown separately to support 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 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 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.
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 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.
• 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.
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
54
BUDGET OVERVIEW AND PROCESS
• If the Board decides a budget amendment is necessary, the amendment is adopted in resolution format and
the necessary budgetary changes are then made.
• The Final Amended Budget for the Year Ending August 31, 2018 will be submitted at the August 2018 Board
meeting. It will reflect all amendments previously approved by the Board of Trustees plus any final
amendments.
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 anticipate the General Fund will maintain its minimum reserve
for each of the four fiscal years beyond the current budget year.
Fiscal
Year
Positive
Operating
Balance
Fund
Balance
(Unassigned)
Dollars per
Operating
Day
Operating
Days
FY 17/18 YES $ 922,754 $ 23,165 40
FY 18/19 YES 1,065,541 23,863 45
FY 19/20 YES 1,150,014 24,278 47
FY 20/21 YES 1,242,243 24,516 51
FY 21/22 YES $ 1,321,415 $ 24,765 53
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 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.
55
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 allocations for the coming school year and asks, “is this the best use of
public funds?”
56
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 budget for the upcoming school year. After reviewing the
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.
57
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
58
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
6 Funds
Debt Service Fund
N/A
Capital Project Funds
N/A
Permanent Funds
N/A
Proprietrary
Funds
Internal Service Funds
N/A
Enterprise Funds
N/A
Fiduciary
Funds
Pension Trust Funds
N/A
Investment Trust Funds
N/A
Private Trust Funds
N/A
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.
• Fund 197 Transportation/Parking - This locally defined fund code is used
to account for revenues and expenditures related to transportation for students. This fund is
converted to Fund 199 for PEIMS reporting.
59
FUND TYPES AND STRUCTURE
GOVERNMENTAL
FUNDS TYPES
Special Revenue Funds
Fund 410
Material Allotment
Fund 224
IDEA-B Formula
Fund 484
Local Grants
Fund 461
Campus Activities
Fund 498
International Mindedness
Fund 497
WAF Student Travel
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 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 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.
60
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)
61
REVENUE CLASSIFICATIONS
LOCAL FUNDING REVENUES
Local funding consists of the following major sources from the Town of
Westlake and the Westlake Academy Foundation (WAF).
• 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.
• 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.
FEDERAL FUNDING
• Federal funding is received through grants
that support special education.
STATE FUNDING
• State funding, through the 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.
62
REVENUES ALLOCATED BY STAFF TYPE & FUNCTION
REVENUES ALLOCATED BY STAFF TYPE
Allocation process includes all available funding $8,847,829
REVENUES ALLOCATED BY FUNCTION
Allocation process includes all available funding $8,847,829
Function Description
FY 18/19
Adopted
Staffing
Percent
Of Total
Revenue
Allocation
11 Instructional 68.08 72.75% $ 6,436,796
12 Media/Library 1.00 1.07% 94,672
21 Instructional Leadership 2.00 2.14% 189,344
23 Campus Leadership 11.25 12.02% 1,063,509
31 Guidance/Counselors 4.00 4.27% 377,802
33 Health Service/Nurses 1.00 1.07% 94,672
36 Extra-Curricular 0.50 0.53% 46,893
41 General Administration 0.25 0.27% 23,889
51 Facilities Maintenance 2.00 2.14% 189,344
53 Information Technology 2.00 2.14% 189,344
61 W.A. Foundation 1.50 1.60% 141,565
TOTAL 93.58 100.00% $ 8,847,829
Reference GFOA Criterion 4.C.1: Allocation Formula
Reference GFOA Criterion 4.C.3: Consolidated Budgeting
FY 18/19
Employee Adopted Percent Revenue
Type Staffing of Total Allocation
Principals 4.75 5.08% $ 449,104
Coordinators 4.25 4.54% 401,830
Primary 26.50 28.32% 2,505,530
Secondary 34.83 37.22% 3,293,117
Support 13.00 13.89% 1,229,128
Specialist 4.75 5.08% 449,104
Foundation 1.50 1.60% 141,822
Facilities 2.00 2.14% 189,097
Technology 2.00 2.14% 189,097
TOTAL 93.58 100% $ 8,847,829
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.
63
EXPENDITURE CLASSICATIONS
OBJECT CODE GENERAL DESCRIPTIONS
The object number is a 4-digit code that describes the type of revenue or expenditure incurred and is
comprised of the fifteenth through eighteenth digits in the code structure. For example:
• 61XX Payroll and Payroll Related
• 62XX Professional & Contracted Services
• 63XX Supplies and Materials
• 64XX Other Operating Costs
• 65XX Debt Service
• 66XX Capital
FUNCTION CODES – GENERAL DESCRIPTIONS
A function code represents a general operational area at the
Academy and groups together related activities. The assignment
and use of function numbers is based on the financial
accountability standards established by the Texas Education
Agency in accordance with the Texas Administrative Code.
The function code is a 2-digit number that follows the 3-digit fund code in the accounting number scheme.
FUNCTION
CODE
FUNCTION CODE DECRIPTION
11 Instruction
12 Instructional Resources & Media Sources
13 Curriculum Development & Instruction / Staff Development
21 Instructional Leadership
23 School Leadership (Principal)
31 Guidance, Counseling& Evaluation Services
32 Social Work Services
33 Health Services
34 Student (Pupil) Transportation
35 Food Services
36 Co-curricular/Extracurricular Activities
41 General Administration (Superintendent/Board)
51 Plant Maintenance and Operations
52 Security and Monitoring Services
53 Data Processing Services
61 Community Services
71 Debt Service
81 Facilities Acquisition and Construction
64
EXPENDITURE CLASSICATIONS
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.
65
EXPENDITURE CLASSICATIONS
• Function 32 - Social Work Services - This function includes expenditures which directly and exclusively
promote and improve school attendance. Examples include social workers, non-instructional home visitors,
home visitor aides, and truant officers.
• Function 33 - Health Services - This function embraces the area of responsibility 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 expenditures made
to keep buildings, grounds, and equipment safe for use and in efficient working
condition. This function also includes expenditures associated with warehousing
services. Examples include janitors, facility insurance premiums, utilities, and
warehouse personnel.
• Function 52 - Security and Monitoring Services - This function is used for expenditures that are for
activities to keep student and staff surroundings safe, whether in transit to or from school, on a
campus, or participating in school-sponsored events at another location.
66
EXPENDITURE CLASSICATIONS
• 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
67
EXPENDITURES SHARED SERVICE MODEL
The Academy operates under a shared service model with the Town of Westlake, whereby the municipal
operations team provides Human Resources, Financial,
Facilities, and Administrative support services to the
Academy. General maintenance and replacement of
infrastructure and equipment for the school is also
expensed to the municipal budget. 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.
he following operating costs are booked to the Town of Westlake’s General Fund and Debt Service Fund.
• Municipal-Transfer to WA Operating Budget
• Annual Debt Service Payments
• General Major Maintenance and Replacement
• In-direct Operating Costs (Payroll and Related)
Amended
FY 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease_
Municipal-Transfer to WA Operating Budget $ 315,000 $ 315,000 $ - 0.00%
Annual Debt Service (Municipal budget) 1,666,337 1,828,791 162,454 9.75%
Major Maintenance and Replacement 289,667 355,595 65,928 22.76%
In-direct Operating Costs 768,469 854,511 86,042 11.20%
Total Municipal Costs $ 3,039,473 $ 3,353,897 $ 314,424 10.34%
The support services for the Academy that generate indirect costs paid by the Town of Westlake are:
• Finance and Accounting Services
• Facility Maintenance Services
• Human Resources
• Information Technology
• General Managerial Oversight (Superintendent)
• Town Secretary records maintenance and election administration
• Board Support Services including policy advisement and strategic planning
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.
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.
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 Security & Monitoring Data Processing Services Community Services Debt Service FUND NAME 11 12 13 21 23 31 33 34 36 41 51 52 53 61 71
GENERAL FUND
Fund 199
General Fund -
Fund 198
Athletics
Fund 197
Transportation
SPECIAL REVENUE FUNDS
FUND NAME 11 12 13 21 23 31 33 34 36 41 51 52 53 61 71
Fund 224
IDEA-B Formula
Fund 410
Material Allotment
Fund 461
Campus Activities
Fund 484
Local Grants
Fund 497
Student Travel
Award
Fund 498
I.M.E.S.
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70
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
71
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72
FINANCIAL FORECAST ASSUMPTIONS
Student Enrollment Assumptions:
• Increase of 20 students in FY 2018/19 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
257 students for FY 2018/19 due to a new CTE
pathway in Technology. Numbers will fluctuate
slightly from year to year beyond 2018/19 due to
student course selections.
• Facility Funding Allotment funding from the State
begins in FY 2018/19. The Texas Education Agency
currently estimates that eligible charter schools will
receive approximately $200 per student in average
daily attendance (ADA). Assumption for current and
future years are based on this assumption.
• Future revenue projections are based upon the State’s current funding formula and current local
donation levels. Charter schools do not have taxing authority, making them reliant upon state and
local funding sources. As an open enrollment charter school, all State funding is determined each
legislative session and channeled to Westlake Academy through the Foundation School Program (FSP).
Due to the uncertainty of state funding, the Academy adopted a new policy in FY 14/15 which only allows
increases in expenditures if there is an offsetting increase in revenues.
Charter schools are funded based on their weighted average daily attendance (WADA). A school’s WADA is
determined not only by the number of students attending, but by their participation in special programs, such as
special education and career and technology
• Most Academy General Fund revenue is derived from the Foundation School Program.
• Secondary sources include the Westlake Academy Foundation and the Blacksmith Campaign.
• Growth in local revenues has been significant and is a result of strong parent and community support of the
Academy.
Expenditures:
• Personnel costs are estimated to increase approximately 2.0% for FY 2018/19 and 1.0% annually in
subsequent years.
• Professional services, supplies and other operating expenditures are increased by 1% in outer years
but will only increase if revenues increase to offset additional expenditures.
73
Audited Adopted Amended Adopted Amount Percent Projected Projected Projected Projected
FY 16/17 FY 17/18 FY 17/18 FY 18/19 Inc/(Dec)Inc/(Dec)FY 19/20 FY 20/21 FY 21/22 FY 22/23
Transportation 8,075$ 10,000$ 10,000$ 10,500$ 500$ 5.00%10,500$ 10,500$ 10,500$ 10,500$
Parking 9,022 15,000 15,000 15,000 - 0.00%15,000 15,000 15,000 15,000
Athletic Activities 78,867 90,700 90,700 94,200 3,500 3.86%96,084 96,084 96,084 96,084
Interest Earned 5,371 3,000 9,000 9,000 - 0.00%9,000 9,000 9,000 9,000
WAF Blacksmith Donation 1,053,170 1,000,000 1,000,000 1,000,000 - 0.00%1,000,000 1,000,000 1,000,000 1,000,000
WAF Salary Reimbursement 65,159 67,800 67,800 69,834 2,034 3.00%71,929 74,087 76,309 78,599
Town Contribution - Westlake Reserve 300,000 300,000 300,000 300,000 - 0.00%300,000 300,000 300,000 300,000
Town Contribution 15,000 15,000 15,000 15,000 - 0.00%15,000 15,000 15,000 15,000
Other Local Revenue (BTS, Tech & Other)84,737 58,800 58,800 47,300 (11,500) -19.56%47,300 47,300 47,300 47,300
Fund raiser (Back to School)- 16,000 - - - 0.00%- - - -
Food Services 7,000 6,100 7,000 7,000 - 0.00%7,000 7,000 7,000 7,000
Total Local Revenues 1,626,401 1,582,400 1,573,300 1,567,834 (5,466) -0.35%1,571,813 1,573,971 1,576,193 1,578,483
Percent of total revenues 20%18%19%18%-1%-7.96%18%17%17%17%
TEA - Foundation School Funds 5,593,191 5,781,200 5,913,676 5,741,074 (172,602) -2.92%5,826,349 5,901,968 5,977,587 6,053,205
CTE Funding (additional TEA-FSP Funds)299,605 572,200 424,933 508,316 83,383 19.62%508,316 508,316 508,316 508,316
TEA - Available School Funds 303,634 191,300 167,161 365,166 198,005 118.45%365,166 365,166 365,166 365,166
TEA - Facilities Allotment $200 per ADA - - - 184,856 184,856 0.00%177,200 179,200 181,200 183,200
IB Training Reimbursement (TEA)6,300 6,300 6,300 3,000 (3,300) -52.38%3,000 3,000 3,000 3,000
TRS/TRS-Care On-behalf/Medicare Part B 389,286 450,700 392,275 477,583 85,308 21.75%487,135 496,877 506,815 516,951
Total State Revenues 6,592,016 7,001,700 6,904,345 7,279,995 375,650 5.44%7,367,166 7,454,527 7,542,083 7,629,839
Percent of total revenues 80%82%81%82%101%1.03%82%83%83%83%
TOTAL REVENUES 8,218,417$ 8,584,100$ 8,477,645$ 8,847,829$ 370,184$ 4.37%8,938,979$ 9,028,498$ 9,118,277$ 9,208,321$
Variance Variance
EXPENDITURES by FUNCTION 223,583 223,583
Function 11 - Instructional 4,749,555$ 4,975,270$ 4,839,602$ 5,008,974 169,372 3.50%
Function 12 - Resources & Media 81,227 82,639 87,379 90,935 3,556 4.07%
Function 13 - Curriculum & Staff Dev 86,871 84,545 86,200 84,545 (1,655) -1.92%
Function 21 - Instructional Leadership 266,090 206,623 161,919 170,216 8,297 5.12%
Function 23 - School Leadership 875,439 757,692 896,747 924,198 27,451 3.06%
Function 31 - Guidance & Counseling 267,033 223,973 307,664 321,467 13,803 4.49%
Function 33 - Health Services 67,489 66,024 71,146 72,919 1,773 2.49%
Function 36 - Co/Extracurricular Activities 242,560 218,358 237,474 219,169 (18,305) -7.71%
Function 41 - Administrative 307,304 260,167 319,088 308,772 (10,316) -3.23%
Function 51 - Maintenance & Operations 886,943 960,743 947,615 947,445 (170) -0.02%
Function 52 - Security & Monitoring - - - 40,000 40,000 0.00%
Function 53 - Data Processing 173,352 195,505 199,407 216,103 16,696 8.37%13,862 11,708
Function 61 - Community Services 126,614 124,460 133,763 138,322 4,559 3.41%868 (89,727)
Function 71 - Debt Service 256,795 166,200 167,068 167,068 - 0.00%
TOTAL EXPENDITURES BY FUNCTION 8,387,272$ 8,322,199$ 8,455,072$ 8,710,132$ 255,060$ 3.02%14,730 (78,019)
Object Code 61XX - Salaries 6,344,256$ 6,279,299$ 6,378,398$ 6,585,303$ 206,905 3.24%6,717,009$ 6,784,179$ 6,852,021$ 6,920,541$
Object Code 62XX - Contracted Services 1,002,039 1,003,205 1,069,705 1,056,667 (13,038) -1.22%1,067,234 1,077,906 1,088,685 1,099,572
Object Code 63XX - Supplies & Materials 289,384 395,828 322,333 425,124 102,791 31.89%429,375 433,669 438,006 442,386
Object Code 64XX - Other Operating Costs 494,799 477,667 517,568 475,970 (41,598) -8.04%480,730 485,537 490,392 495,296
Object Code 65XX - Debt Service 256,794 166,200 167,068 167,068 - 0.00%167,068 167,068 170,000 170,000
TOTAL EXPENDITURES BY OBJECT 8,387,272$ 8,322,199$ 8,455,072$ 8,710,132$ 255,060$ 3.02%8,861,416$ 8,948,359$ 9,039,104$ 9,127,795$
Other Resources - Local 37,090$ 60,000$ 85,000$ 76,000$ (9,000)$ -10.59%100,000 100,000 100,000 100,000
Other Uses - Local (60,000) (85,000) (76,000) 9,000 -10.59%(100,000) (100,000) (100,000) (100,000)
NET OTHER RESOURCES (USES)37,090 - - - - 0.00%- - - -
EXCESS REVENUES OVER(UNDER) EXP (131,765)$ 261,901$ 22,573$ 137,697$ 115,124$ 510.01%77,563$ 80,139$ 79,173$ 80,526$
FUND BALANCE BEGINNING 1,071,036$ 939,271$ 939,271$ 961,844$ 22,573$ 2.40%1,099,541$ 1,177,104$ 1,257,243$ 1,336,415$
FUND BALANCE ENDING 939,271 1,201,172 961,844 1,099,541 137,697 14.32%1,177,104 1,257,243 1,336,415 1,416,942
Assigned - Bus Maintenance 24,090 24,090 19,000 (5,090) -21.13%12,090
Assigned - Uniform/Equip replacement 5,000 15,000 15,000 15,000 - 0.00%15,000 15,000 15,000 15,000
FUND BALANCE ENDING (Unassigned)934,271$ 1,162,082$ 922,754$ 1,065,541$ 142,787$ 15.47%1,150,014$ 1,242,243$ 1,321,415$ 1,401,942$
Number of Operating Days (365)41 51 40 45 4.82 12.09%47 51 53 56
Dollars per Operating Day 22,979$ 22,801$ 23,165$ 23,863$ 699$ 3.02%24,278$ 24,516$ 24,765$ 25,008$
Total Students Enrolled 830 856 856 876 20 2.34%886 896 906 916
TEA Funding per Student 7,466$ 7,646$ 7,600$ 7,762$ 162$ 2.13%7,762$ 7,762$ 7,762$ 7,762$
Operating Cost per Student (Academic Only)10,105$ 9,722$ 9,877$ 9,943$ 66$ 0.66%10,002$ 9,987$ 9,977$ 9,965$
Teachers 65.55 66.26 66.26 66.08 (0.18) -0.27%66.08 66.08 66.08 66.08
Student/Teacher Ratio 12.66 12.92 12.92 13.26 0.34 2.62%13.41 13.56 13.71 13.86
Westlake Academy General Fund
Five Year Financial Forecast
Fiscal Years 2018/2019 through 2022/2023
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 17/18
Adopted
FY 18/19
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,950,495 $ 9,201,357 $ 250,862 2.80%
Total Expenditures 8,927,922 9,063,660 135,738 1.52%
Net Other Sources/Uses - - - 0.00%
Excess Revenues Over(under) Expenditures 22,573 137,697 115,124 510.01%
Fund Balance Beginning 965,248 987,821 22,573 2.34%
Fund Balance Ending $ 987,821 $ 1,125,518 $ 137,697 13.94%
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.
GOVERNMENTAL REVENUE
The Academy’s primary revenue sources continue to be the State Foundation School Program and the Westlake Academy
Foundation. Revenues received by Westlake Academy are classified into three broad categories:
LOCAL R EVE N UES
Local funding consists of the following major sources: The Town of Westlake, Westlake Academy Foundation (WAF) and the
House of Commons.
o The Westlake Academy Foundation (WAF) 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 fundraising 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 and what the Academy spends on each student.
o Other Local Revenues include athletic activities, transportation and parking
fees, interest earned, food services, TEA/ESC Region 11 substitute
reimbursement, and municipal contributions.
o The Westlake Academy House of Commons (HOC) is the 501(c)3 parent/teacher
organization of Westlake Academy. Members of the HOC assist with fundraising
projects, participate in educational and social programs, or volunteer time to
help show the teachers and staff at Westlake Academy that they are
appreciated. Through fundraising efforts, the HOC provides needed support
to the school.
Amended
FY 17/18
Adopted
FY 18/19
$ Increase
(Decrease)
% Increase
(Decrease)
Amended
FY 17/18
State Program Revenues $ 7,030,713 $ 7,311,023 $ 280,310 3.99% 79.46%
Local Revenues 1,804,986 1,786,334 (18,652) -1.03% 19.41%
Federal Program Revenues 114,796 104,000 (10,796) -9.40% 1.13%
Total Revenues $ 8,950,495 $ 9,201,357 $ 250,862 2.80% 100.00%
Local
Revenues
19%
State
Program
Revenues
80%
Federal
Program
Revenues
1%
75
GOVERNMENTAL FUNDS
FINANCIAL SUMMARY
FEDERAL P ROG R A M R EVE N UES
Federal funding is received through grants that support special education and accounts for approximately one (1%) of
revenues for all funds.
STATE P ROG R A M R EVE N UES
State funding is the Academy’s largest revenue source,
making up approximately 82% 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 2018/19
will be approximately $7,762 per student.
GOVERNMENTAL EXPENDITURES
Amended
Budget
FY17/18
Adopted
Budget
FY 18/19
$ Increase
(Decrease)
% Increase
(Decrease)
Expenditure
Percent
11 - Instructional $ 5,087,804 $ 5,246,502 $ 158,698 3.12% 57.89%
12 - Resources & Media 87,379 90,935 3,556 4.07% 1.00%
13 - Staff Development 86,200 109,545 23,345 27.08% 1.21%
21 - Instructional Leadership 161,919 170,216 8,297 5.12% 1.88%
23 - School Leadership 896,747 927,198 30,451 3.40% 10.23%
31 - Guidance & Counseling 307,664 321,467 13,803 4.49% 3.55%
33 - Health Services 71,146 72,919 1,773 2.49% 0.80%
36 - Extra-/Co-Curricular Activities 462,122 307,169 (154,953) -33.53% 3.39%
41 - General Administration 319,088 308,772 (10,316) -3.23% 3.41%
51 - Maintenance & Operations 947,615 947,445 (170) -0.02% 10.45%
52 - Security & Monitoring Services - 40,000 40,000 0.00% 0.44%
53 - Data Processing 199,407 216,103 16,696 8.37% 2.38%
61 - Community Services 133,763 138,322 4,559 3.41% 1.53%
71 - Debt Service 167,068 167,068 - 0.00% 1.84%
Total Expenditures $ 8,927,922 $ 9,063,660 $ 135,738 1.52% 100.00%
$6,980
$7,157
$7,285
$7,466
$7,646 $7,600
$7,762
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Actual
FY17/18
Adopted
FY 17/18
Amended
FY 18/19
Proposed
State Funding
per Student
61XX
Payroll &
Related Items
74%
62XX
Contracted
Services
12%
63XX
Supplies &
Materials
7%
64XX -
Other
Operating
5%
65XX
Debt Service
2%For FY 2018/19, Staff recommends a salary increase of
approximately 3.0%. The increase equals approximately
$223,583 in payroll and related expenditures and will
bring the Academy to within 0.5% 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.
76
GOVERNMENTAL FUNDS
FINANCIAL SUMMARY
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
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.
PROJECTED ENDING FUND BALANCES
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 a 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
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 $ 961,844 $ 8,923,829 $ 8,786,132 $ 1,099,541 98% $ 137,697 14%
Special Revenue Funds 25,977 353,528 353,528 25,977 2% 0 0%
TOTAL $ 987,821 $ 9,277,357 $ 9,139,660 $ 1,125,518 100% $ 137,697 14%
EXPENDITURES
BY OBJECT CODE
Amended
Budget
FY 17/18
Adopted
Budget
FY 18/19
$ Increase
(Decrease)
% Increase
(Decrease)
61XX - Payroll & Related Items $ 6,496,558 $ 6,689,303 $ 192,745 2.97%
62XX - Contracted Services 1,089,705 1,056,667 (33,038) -3.03%
63XX - Supplies & Materials 634,523 668,652 34,129 5.38%
64XX - Other Operating 540,068 481,970 (58,098) -10.76%
65XX - Debt Service 167,068 167,068 - 0.00%
Total Expenditures $ 8,927,922 $ 9,063,660 $ 135,738 1.52%
Amended Adopted $ Increase % Increase
FY 2017/18 FY 2018/19 (Decrease) (Decrease)
Operating Expenditures $ 8,927,922 $ 9,063,660 $ 135,738 1.52%
Municipal-Transfer to WA 315,000 315,000 - 0.00%
Total Academic Costs 9,242,922 9,378,660 135,738 1.47%
Annual Debt Service (Municipal) 1,666,337 1,828,791 162,454 9.75%
Major Maintenance and Replacement 289,667 355,595 65,928 22.76%
In-direct Operating Costs 768,469 854,511 86,042 11.20%
Total Municipal Costs 2,724,473 3,038,897 314,424 11.54%
TOTAL EXPENDITURE COSTS $ 11,967,395 $ 12,417,557 $ 450,162 3.76%
Number of Students 856 876 20 2.34%
Total Expenditure Cost per Student $ 13,981 $ 14,175 $ 196 1.40%
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.
77
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Revenues 2,190,629$ 1,614,880$ 1,896,101$ 1,652,900$ 1,804,986$ 1,786,334$ (18,652)$
State Program Revenues 6,181,480 6,548,362 6,603,358 7,159,096 7,030,713 7,311,023 280,310
Federal Program Revenues 162,270 98,564 140,152 104,000 114,796 104,000 (10,796)
8,534,379 8,261,806 8,639,611 8,915,996 8,950,495 9,201,357 250,862
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,716,639 5,760,357 5,034,101 5,245,166 5,087,804 5,246,502 158,698
12 - Resources & Media 67,933 77,692 81,227 82,639 87,379 90,935 3,556
13 - Staff Development 222,521 184,198 128,717 84,545 86,200 109,545 23,345
21 - Instructional Leadership 248,087 210,591 266,090 206,623 161,919 170,216 8,297
23 - School Leadership 712,023 885,787 898,643 757,692 896,747 927,198 30,451
31 - Guidance & Counseling 255,286 248,153 267,033 223,973 307,664 321,467 13,803
33 - Health Services 64,285 62,328 67,489 66,024 71,146 72,919 1,773
36 - Extra-/Co-Curricular Activities 142,799 179,779 338,817 278,358 462,122 307,169 (154,953)
41 - General Administration 351,087 372,986 307,304 260,167 319,088 308,772 (10,316)
51 - Maintenance & Operations 865,719 895,334 886,943 960,743 947,615 947,445 (170)
52 - Security & Monitoring Services - - - - - 40,000 40,000
53 - Data Processing 100,757 164,330 173,352 195,505 199,407 216,103 16,696
61 - Community Services 111,620 118,429 126,614 124,460 133,763 138,322 4,559
71 - Debt Service 89,949 91,092 256,795 166,200 167,068 167,068 -
Total Expenditures 7,948,705 9,251,056 8,833,125 8,652,095 8,927,922 9,063,660 135,738
Excess (Deficiency) of Revenues Over
(Under) Expenditures 585,674 (989,250) (193,514) 263,901 22,573 137,697 115,124
OTHER FINANCING SOURCES (USES)
79 - Other Resources 16,740 474,300 37,090 60,000 60,000 76,000 16,000
89 - Other Uses - - (37,090) (60,000) (60,000) (76,000) (16,000)
Total Other Financing Sources (Uses)16,740 474,300 - - - - -
NET CHANGES IN FUND BALANCE 602,414 (514,950) (193,514) 263,901 22,573 137,697 115,124
FUND BALANCE, BEGINNING 1,071,298 1,673,712 1,158,762 965,248 965,248 987,821 22,573
FUND BALANCE, ENDING 1,673,712 1,158,762 965,248 1,229,149 987,821 1,125,518 137,697
Assigned - Tech/FF&E Replacemt - 125,000 - - - - -
Assigned - Bus Maintenance - - - 24,090 24,090 19,000 (5,090)
Assigned - Uniforms/Equip Rep - 5,000 5,000 15,000 15,000 15,000 -
FUND BALANCE, UNASSIGNED 1,673,712$ 1,028,762$ 960,248$ 1,190,059$ 948,731$ 1,091,518$ 132,607$
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2019
78
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
General Fund 7,805,552$ 7,868,978$ 8,218,417$ 8,584,100$ 8,477,645$ 8,847,829$ 370,184$
Special Revenue Funds 728,827 392,828 421,194 331,896 472,850 353,528 (119,322)
Total Governmental Funds 8,534,379$ 8,261,806$ 8,639,611$ 8,915,996$ 8,950,495$ 9,201,357$ 250,862$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
General Fund 7,364,652$ 8,754,399$ 8,387,272$ 8,322,199$ 8,455,072$ 8,710,132$ 255,060$
Special Revenue Funds 584,053 496,657 445,853 329,896 472,850 353,528 (119,322)
Total Governmental Funds 7,948,705$ 9,251,056$ 8,833,125$ 8,652,095$ 8,927,922$ 9,063,660$ 135,738$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
61XX - Payroll & Related Items 5,710,695$ 6,335,240$ 6,532,612$ 6,383,299$ 6,496,558$ 6,689,303$ 192,745$
62XX - Contracted Services 1,099,389 1,147,192 1,035,580 1,003,205 1,089,705 1,056,667 (33,038)
63XX - Supplies & Materials 547,099 1,105,163 356,496 616,224 634,523 668,652 34,129
64XX - Other Operating 501,573 572,369 651,643 483,167 540,068 481,970 (58,098)
65XX - Debt Service 89,949 91,092 256,794 166,200 167,068 167,068 -
Total Expenditures 7,948,705$ 9,251,056$ 8,833,125$ 8,652,095$ 8,927,922$ 9,063,660$ 135,738$
TOTAL REVENUES
TOTAL EXPENDITURES
EXPENDITURES BY OBJECT CODE
WESTLAKE ACADEMY
ALL GOVERNMENTAL FUNDS
For the Year Ending August 31, 2019
61XX -Payroll & Related
Items
74%
62XX -Contracted Services
12%
63XX -Supplies & Materials
7%
64XX -Other Operating
5%
65XX -Debt Service
2%
Expenditures by
Object Code
79
Adopted Amended Adopted
Audited Audited Audited Budget Budget Budget
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19
REVENUE SUMMARY
Local Revenues 2,190,629$ 1,614,880$ 1,896,101$ 1,652,900$ 1,804,986$ 1,786,334$
State Program Revenues 6,181,480 6,548,362 6,603,358 7,159,096 7,030,713 7,311,023
Federal Program Revenues 162,270 98,564 140,152 104,000 114,796 104,000
Total Revenues 8,534,379$ 8,261,806$ 8,639,611$ 8,915,996$ 8,950,495$ 9,201,357$
Adopted Amended Adopted
Audited Audited Audited Budget Budget Budget
EXPENDITURES (BY FUNCTION)FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19
11 - Instructional 4,716,639$ 5,760,357$ 5,034,101$ 5,245,166$ 5,087,804$ 5,246,502$
12 - Resources & Media 67,933 77,692 81,227 82,639 87,379 90,935
13 - Staff Development 222,521 184,198 128,717 84,545 86,200 109,545
21 - Instructional Leadership 248,087 210,591 266,090 206,623 161,919 170,216
23 - School Leadership 712,023 885,787 898,643 757,692 896,747 927,198
31 - Guidance & Counseling 255,286 248,153 267,033 223,973 307,664 321,467
33 - Health Services 64,285 62,328 67,489 66,024 71,146 72,919
36 - Extra-/Co-Curricular Activities 142,799 179,779 338,817 278,358 462,122 307,169
41 - General Administration 351,087 372,986 307,304 260,167 319,088 308,772
51 - Maintenance & Operations 865,719 895,334 886,943 960,743 947,615 947,445
52 - Security & Monitoring Services - - - - - 40,000
53 - Data Processing 100,757 164,330 173,352 195,505 199,407 216,103
61 - Community Services 111,620 118,429 126,614 124,460 133,763 138,322
71 - Debt Service 89,949 91,092 256,795 166,200 167,068 167,068
Total Expenditures 7,948,705$ 9,251,056$ 8,833,125$ 8,652,095$ 8,927,922$ 9,063,660$
For the Year Ending August 31, 2019
WESTLAKE ACADEMY
ALL GOVERNMENTAL FUNDS
Local Revenues
19%
State Program Revenues
80%
Federal Program Revenues
1%
Revenues
By Type
80
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 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease)
Total Revenues $ 8,477,645 $ 8,847,829 $ 370,184 4%
Total Expenditures 8,455,072 8,710,132 255,060 3.02%
Other Resources 85,000 76,000 (9,000) -11%
Other Uses (85,000) (76,000) 9,000 0%
Excess Revenues Over(Under) Expenditures 22,573 137,697 115,124 510%
FUND BALANCE BEGINNING 939,271 961,844 22,573 2%
FUND BALANCE ENDING 961,844 1,099,541 137,697 14%
Assigned 39,090 34,000 (5,090) -13%
FUND BALANCE ENDING (Unassigned) $ 922,754 $ 1,065,541 $ 142,787 15%
# Days Operating (Based on 365) 40 45 5 12%
GENERAL FUND REVENUES
Amended
FY 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease)
Revenue
Percent
Local Revenues $ 1,573,300 $ 1,567,834 $ (5,466) -0.3% 18%
State Program Revenues 6,904,345 7,279,995 375,650 5.4% 82%
TOTAL REVENUES $ 8,477,645 $ 8,847,829 $ 370,184 4.4% 100%
Total Local
Revenues
18%
Total State
Revenues
82%
General Fund Revenue
81
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
2018/19, the Academy anticipates that state funding will increase by $162 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.
G E N E RAL F UND E X P E N DITU R E S
Expenditures (by Object Code)
Amended
FY 2017/18
Adopted
FY 2018/19
$ Increase
(Decrease)
% Increase
(Decrease)
Expenditure
Percent
61XX - Salaries $ 6,378,398 $ 6,585,303 $ 206,905 3% 76%
62XX - Contracted Services 1,069,705 1,056,667 (13,038) -1% 12%
63XX - Supplies & Materials 322,333 425,124 102,791 32% 5%
64XX - Other Operating Costs 517,568 475,970 (41,598) -8% 5%
65XX - Debt Service 167,068 167,068 - 0% 2%
TOTAL EXPENDITURES $ 8,455,072 $ 8,710,132 $ 255,060 3% 100%
61XX
Payroll & Related Items
76%
62XX
Contracted Services
12%
63XX
Supplies & Materials
5%
64XX -
Other Operating
5%
65XX
Debt Service
2%
Expenditures
by
Object
Code
82
Adopted Amended Adopted Variance
Audited Audited Budget Budget Budget Amended to
FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Revenues 1,459,838$ 1,626,401$ 1,582,400$ 1,573,300$ 1,567,834$ (5,466)$
State Program Revenues 6,409,140 6,592,016 7,001,700 6,904,345 7,279,995 375,650
Total Revenues 7,868,978 8,218,417 8,584,100 8,477,645 8,847,829 370,184
EXPENDITURES (BY FUNCTION)
11 - Instructional 5,369,348 4,749,555 4,975,270 4,839,602 5,008,974 169,372
12 - Resources & Media 73,983 81,227 82,639 87,379 90,935 3,556
13 - Staff Development 147,559 86,871 84,545 86,200 84,545 (1,655)
21 - Instructional Leadership 210,591 266,090 206,623 161,919 170,216 8,297
23 - School Leadership 860,150 875,439 757,692 896,747 924,198 27,451
31 - Guidance & Counseling 248,153 267,033 223,973 307,664 321,467 13,803
33 - Health Services 62,328 67,489 66,024 71,146 72,919 1,773
36 - Extra-/Co-Curricular Activities 140,141 242,560 218,358 237,474 219,169 (18,305)
41 - General Administration 372,961 307,304 260,167 319,088 308,772 (10,316)
51 - Maintenance & Operations 895,334 886,943 960,743 947,615 947,445 (170)
52 - Security and Monitoring Services - - - - 40,000 40,000
53 - Data Processing 164,330 173,352 195,505 199,407 216,103 16,696
61 - Community Services 118,429 126,614 124,460 133,763 138,322 4,559
71 - Debt Service 91,092 256,795 166,200 167,068 167,068 -
Total Expenditures 8,754,399 8,387,272 8,322,199 8,455,072 8,710,132 255,060
Excess (Deficiency) of Revenues Over
(885,421) (168,855) 261,901 22,573 137,697 115,124
OTHER FINANCING SOURCES (USES)
79 - Capital Lease Proceeds 474,300 - - - - -
79 - Other Resources (CAF)45,000 37,090 60,000 85,000 76,000 (9,000)
89 - Other Uses (45,000) - (60,000) (85,000) (76,000) 9,000
474,300 37,090 - - - -
NET CHANGES IN FUND BALANCE (411,121) (131,765) 261,901 22,573 137,697 115,124
-
FUND BALANCE, BEGINNING 1,482,157 1,071,036 939,271 939,271 961,844 22,573
FUND BALANCE, ENDING 1,071,036 939,271 1,201,172 961,844 1,099,541 137,697
Assigned - Bus Maintenance - - 24,090 24,090 19,000 (5,090)
Assigned - Tech/FF&E Rplcmnt 125,000 - - - - -
Assigned - Uniforms/Equip Rplcmnt 5,000 5,000 15,000 15,000 15,000 -
FUND BALANCE, UNASSIGNED 941,036$ 934,271$ 1,162,082$ 922,754$ 1,065,541$ 142,787$
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, 2019
(Under) Expenditures
83
WESTLAKE ACADEMY
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
For the Year Ending August 31, 2019
11 -Instructional
57%
23 -School Leadership
11%
51 -Maintenance &
Operations
11%
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
52 - Security and Monitoring Services
53 - Data Processing
61 - Community Services
71 - Debt Service
$7.87
$8.22
$8.58
$8.48
$8.85
$8.75
$8.39 $8.32
$8.46
$8.71
FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19
Audited Audited Budget Budget Budget
Adopted Amended Adopted
REVENUE & EXPENDITURE COMPARISON (IN MILLIONS)
Total Revenues Total Expenditures
84
197 198 199 Total
Transportation/Athletic General General
Parking Fund Activities Fund Fund
FY 18/19 FY 18/19 FY 18/19 FY 18/19
REVENUES
Local Revenues 25,500$ 94,200$ 1,448,134$ 1,567,834$
State Program Revenues - - 7,279,995 7,279,995
Total Revenues 25,500 94,200 8,728,129 8,847,829
EXPENDITURES (BY FUNCTION)
11 - Instructional 1,748 - 5,007,226 5,008,974
12 - Resources & Media - - 90,935 90,935
13 - Staff Development - - 84,545 84,545
21 - Instructional Leadership - - 170,216 170,216
23 - School Leadership - - 924,198 924,198
31 - Guidance & Counseling - - 321,467 321,467
33 - Health Services - - 72,919 72,919
36 - Extra-/Co-Curricular Activities 78,813 132,856 7,500 219,169
41 - General Administration - - 308,772 308,772
51 - Maintenance & Operations - - 947,445 947,445
52 - Security and Monitoring Services - - 40,000 40,000
53 - Data Processing - - 216,103 216,103
61 - Community Services - - 138,322 138,322
71 - Debt Service - - 167,068 167,068
Total Expenditures 80,561 132,856 8,496,715 8,710,132
(55,061) (38,656) 231,414 137,697
OTHER FINANCING SOURCES (USES)
79 - Other Resources 16,000 60,000 - 76,000
89 - Other Uses - - (76,000) (76,000)
Total Other Financing Sources (Uses)16,000 60,000 (76,000) -
NET CHANGES IN FUND BALANCE (39,061) 21,344 155,414 137,697
FUND BALANCE, BEGINNING 25,693 3,469 932,682 961,844
FUND BALANCE, ENDING (13,368) 24,813 1,088,096 1,099,541
Assigned - Bus Maintenance 19,000 - - 19,000
Assigned - Technology/FF&E Replacement - - - -
Assigned - Uniform/Equipment Replacement - 15,000 - 15,000
ENDING FUND BALANCE (UNASSIGNED)(32,368)$ 9,813$ 1,088,096$ 1,065,541$
Excess (Deficiency) of Revenues Over (Under) Expenditures
For the Year Ending August 31, 2019
WESTLAKE ACADEMY
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
GENERAL FUND
Adopted FY 2018 / 2019
85
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
11 Instructional
6100 Payroll 3,915,926$ 4,445,106$ 4,410,145$ 4,564,442$ 4,473,672$ 4,623,033$ 149,361$
6200 Contracted Services 107,213 69,223 65,785 69,320 92,722 66,820 (25,902)
6300 Supplies & Materials 252,965 745,919 132,636 202,928 127,304 193,628 66,324
6400 Other Operating 67,399 109,100 140,989 138,580 145,904 125,493 (20,411)
Total Instructional 4,343,503 5,369,348 4,749,555 4,975,270 4,839,602 5,008,974 169,372
12 Resource & Media
6100 Payroll 56,186 68,030 73,302 71,339 75,079 77,635 2,556
6200 Contracted Services 2,650 - - 1,100 100 1,100 1,000
6300 Supplies & Materials 7,057 5,774 6,241 8,100 10,100 10,100 -
6400 Other Operating 2,040 179 1,684 2,100 2,100 2,100 -
Total Resource & Media 67,933 73,983 81,227 82,639 87,379 90,935 3,556
13 Staff Development
6100 Payroll 2,522 - - - - - -
6200 Contracted Services 14,320 21,998 - - - - -
6300 Supplies & Materials 762 7,224 339 400 230 400 170
6400 Other Operating 147,704 118,337 86,532 84,145 85,970 84,145 (1,825)
Total Staff Development 165,308 147,559 86,871 84,545 86,200 84,545 (1,655)
21 Instructional Leadership
6100 Payroll 202,096 199,183 259,259 200,623 155,144 160,316 5,172
6200 Contracted Services 3,200 - - - - - -
6300 Supplies & Materials 2,092 4,606 46 500 - - -
6400 Other Operating 5,554 6,802 6,785 5,500 6,775 9,900 3,125
Total Instructional Leadership 212,942 210,591 266,090 206,623 161,919 170,216 8,297
23 School Leadership
6100 Payroll 599,702 810,668 845,228 723,565 861,650 890,971 29,321
6200 Contracted Services 150 - - - - - -
6300 Supplies & Materials 4,330 18,689 597 1,000 1,450 700 (750)
6400 Other Operating 16,200 30,793 29,614 33,127 33,647 32,527 (1,120)
Total School Leadership 620,382 860,150 875,439 757,692 896,747 924,198 27,451
31 Guidance & Counseling
6100 Payroll 137,129 160,308 202,138 163,773 252,096 260,567 8,471
6200 Contracted Services 110,079 73,358 53,741 43,200 41,324 43,750 2,426
6300 Supplies & Materials 5,258 9,076 4,113 7,800 4,560 6,000 1,440
6400 Other Operating 2,727 5,411 7,041 9,200 9,684 11,150 1,466
Total Guidance & Counseling 255,193 248,153 267,033 223,973 307,664 321,467 13,803
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2019
86
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2019
33 Health Services
6100 Payroll 62,653 59,536 64,487 63,524 68,646 70,419 1,773
6200 Contracted Services 520 520 145 1,000 500 1,000 500
6300 Supplies & Materials 1,112 2,272 2,857 1,500 2,000 1,500 (500)
6400 Other Operating - - - - - - -
Total Health Services 64,285 62,328 67,489 66,024 71,146 72,919 1,773
36 Co-/Extra Curricular Activities
6100 Payroll 54,382 64,626 82,245 94,458 83,574 84,386 812
6200 Contracted Services 19,370 26,428 28,379 39,000 36,195 41,610 5,415
6300 Supplies & Materials 28,743 21,743 44,474 37,500 33,943 40,483 6,540
6400 Other Operating 20,479 27,344 87,462 47,400 83,762 52,690 (31,072)
Total CoCurricular Activities 122,974 140,141 242,560 218,358 237,474 219,169 (18,305)
41 Administrative
6100 Payroll 93,706 38,554 39,924 40,267 41,132 42,574 1,442
6200 Contracted Services 168,012 247,576 190,208 141,085 205,735 191,183 (14,552)
6300 Supplies & Materials 19,413 16,150 21,970 21,200 21,400 17,200 (4,200)
6400 Other Operating 62,956 70,681 55,202 57,615 50,821 57,815 6,994
Total Administrative 344,087 372,961 307,304 260,167 319,088 308,772 (10,316)
51 Maintenance & Operations
6100 Payroll 99,798 100,192 109,985 97,543 95,935 94,678 (1,257)
6200 Contracted Services 619,660 664,518 655,474 694,800 679,429 677,504 (1,925)
6300 Supplies & Materials 55,623 50,201 43,331 78,500 83,446 85,213 1,767
6400 Other Operating 90,638 80,423 78,153 89,900 88,805 90,050 1,245
Total Maintenance & Operations 865,719 895,334 886,943 960,743 947,615 947,445 (170)
52 Security & Monitoring Services
6200 Contracted Services - - - - - 20,000 20,000
6300 Supplies & Materials - - - - - 20,000 20,000
Total Security & Monitoring Services - - - - - 40,000 40,000
53 Data Processing
6100 Payroll 73,492 124,899 130,931 135,305 137,707 142,403 4,696
6200 Contracted Services 11,153 8,639 8,306 13,700 13,700 13,700 -
6300 Supplies & Materials 14,926 24,994 32,778 36,400 37,900 49,900 12,000
6400 Other Operating 1,186 5,798 1,337 10,100 10,100 10,100 -
Total Data Processing 100,757 164,330 173,352 195,505 199,407 216,103 16,696
87
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
EXPENDITURES FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES BY FUNCTION & OBJECT CODE
GENERAL FUND
For the Year Ending August 31, 2019
61 Community Services
6100 Payroll 111,620 118,429 126,614 124,460 133,763 138,322 4,559
Total Community Service 111,620 118,429 126,614 124,460 133,763 138,322 4,559
71 Debt Service
6500 Debt Service 89,949 91,092 256,795 166,200 167,068 167,068 -
Total Debt Service 89,949 91,092 256,795 166,200 167,068 167,068 -
Total Expenditure 7,364,652$ 8,754,399$ 8,387,272$ 8,322,199$ 8,455,072$ 8,710,132$ 255,060$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
61XX - Payroll & Related Items 5,409,212$ 6,189,531$ 6,344,258$ 6,279,299$ 6,378,398$ 6,585,303$ 206,905$
62XX - Contracted Services 1,056,327 1,112,260 1,002,038 1,003,205 1,069,705 1,056,667 (13,038)
63XX - Supplies & Materials 392,281 906,648 289,382 395,828 322,333 425,124 102,791
64XX - Other Operating 416,883 454,868 494,799 477,667 517,568 475,970 (41,598)
65XX - Debt Service 89,949 91,092 256,795 166,200 167,068 167,068 -
Total Expenditures 7,364,652$ 8,754,399$ 8,387,272$ 8,322,199$ 8,455,072$ 8,710,132$ 255,060$
61XX -Payroll & Related
Items
76%
62XX -Contracted Services
12%
63XX -Supplies & Materials
5%
64XX -Other Operating
5%
65XX -Debt Service
2%
Expenditures by
Object Code
88
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%7,364,652 9.4%440,900
FY 15/16 Audited 7,868,978 0.8%8,754,399 18.9%(885,421)
FY 16/17 Audited 8,218,417 4.4%8,387,272 -4.2%(168,855)
FY 17/18 Amended 8,477,645 3.2%8,455,072 0.8%22,573
FY 18/19 Adopted 8,847,829$ 4.4%8,710,132$ 3.0%137,697$
WESTLAKE ACADEMY
REVENUE AND EXPENDITURE COMPARISON
Fiscal Years 03/04 through 18/19
GENERAL FUND
$3.66$4.28$4.61$5.24$5.64$6.56$7.81$7.87$8.22$8.48$8.85$3.71$3.92$4.52$5.29$5.50$6.73$7.36$8.75$8.39$8.46$8.71FY 08/09 FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18
AMENDED
FY 18/19
ADOPTED
Revenues Expenditures
Revenue and Expenditure Comparision
(in millions)
89
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended toF
Y FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Revenues 53,417$ 22,768$ 17,097$ 25,000$ 25,000$ 25,500$ 500$
State Revenues - - - - - - -
Total Revenues 53,417 22,768 17,097 25,000 25,000 25,500 500
EXPENDITURES (BY FUNCTION)
11 - Instructional 28,016 13,597 1,489 1,786 1,748 1,748 -
36 - Co-/Extra Curricular Activities 14,876 13,055 18,556 31,950 78,074 78,813 739
Total Expenditures 42,892 26,652 20,045 33,736 79,822 80,561 739
Excess (Deficiency) of Revenues Over
(Under) Expenditures 10,525 (3,884) (2,948) (8,736) (54,822) (55,061) (239)
OTHER FINANCING SOURCES (USES)
79 - Other Resources - - - - 25,000 16,000 (9,000)
89 - Other Uses - - - - - - -
Total Other Financing Sources (Uses)- - - - 25,000 16,000 (9,000)
NET CHANGES IN FUND BALANCE 10,525 (3,884) (2,948) (8,736) (29,822) (39,061) (9,239)
FUND BALANCE, BEGINNING 51,822 62,347 58,463 55,515 55,515 25,693 (29,822)
FUND BALANCE, ENDING 62,347 58,463 55,515 46,779 25,693 (13,368) (39,061)
Assigned - Bus Maintenance - - - 24,090 24,090 19,000 (5,090)
Assigned - Parking - - - - - - -
ENDING FUND BALANCE (UNASSIGNED)62,347$ 58,463$ 55,515$ 22,689$ 1,603$ (32,368)$ (33,971)$
WESTLAKE ACADEMY
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
TRANSPORTATION/PARKING FUND - 197
For the Year Ending August 31, 2019
90
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Revenues 89,253$ 97,940$ 78,867$ 90,700$ 90,700$ 94,200$ 3,500$
State Revenue 1,360 1,396 1,531 - - - -
Total Revenues 90,613 99,336 80,398 90,700 90,700 94,200 3,500
EXPENDITURES (BY FUNCTION)
11 - Instructional - 39 - - - - -
36 - Co-/Extra Curricular Activities 100,023 99,421 204,997 154,519 154,766 132,856 (21,910)
Total Expenditures 100,023 99,460 204,997 154,519 154,766 132,856 (21,910)
(9,410) (124) (124,599) (63,819) (64,066) (38,656) 25,410
OTHER FINANCING SOURCES (USES)
79 - Other Resources 45,000 - 37,090 60,000 60,000 60,000 -
89 - Other Uses - - - - - - -
Total Other Financing Sources (Uses)45,000 - 37,090 60,000 60,000 60,000 -
NET CHANGES IN FUND BALANCE 35,590 (124) (87,509) (3,819) (4,066) 21,344 25,410
FUND BALANCE, BEGINNING 59,578 95,168 95,044 7,535 7,535 3,469 (4,066)
FUND BALANCE, ENDING 95,168 95,044 7,535 3,716 3,469 24,813 21,344
Assigned - Uniform/Equip Replacement - 5,000 11,000 15,000 15,000 15,000 -
ENDING FUND BALANCE (UNASSIGNED)95,168$ 90,044$ (3,465)$ (11,284)$ (11,531)$ 9,813$ 21,344$
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, 2019
91
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Revenues 1,521,693$ 1,339,130$ 1,530,437$ 1,466,700$ 1,457,600$ 1,448,134$ (9,466)$
State Program Revenues 6,139,829 6,407,744 6,590,485 7,001,700 6,904,345 7,279,995 375,650
Total Revenues 7,661,522 7,746,874 8,120,922 8,468,400 8,361,945 8,728,129 366,184
EXPENDITURES (BY FUNCTION)
11 - Instructional 4,315,487 5,355,712 4,748,066 4,973,484 4,837,854 5,007,226 169,372
12 - Resources & Media 67,933 73,983 81,227 82,639 87,379 90,935 3,556
13 - Staff Development 165,308 147,559 86,871 84,545 86,200 84,545 (1,655)
21 - Instructional Leadership 212,942 210,591 266,090 206,623 161,919 170,216 8,297
23 - School Leadership 620,382 860,150 875,439 757,692 896,747 924,198 27,451
31 - Guidance & Counseling 255,193 248,153 267,033 223,973 307,664 321,467 13,803
33 - Health Services 64,285 62,328 67,489 66,024 71,146 72,919 1,773
36 - Co-/Extra Curricular Activities 8,075 27,665 19,007 31,889 4,634 7,500 2,866
41 - Administrative 344,087 372,961 307,304 260,167 319,088 308,772 (10,316)
51 - Maintenance & Operations 865,719 895,334 886,943 960,743 947,615 947,445 (170)
52 - Security & Monitoring Services - - - - - 40,000 40,000
53 - Data Processing 100,757 164,330 173,352 195,505 199,407 216,103 16,696
61 - Community Services 111,620 118,429 126,614 124,460 133,763 138,322 4,559
71 - Debt Service 89,949 91,092 256,795 166,200 167,068 167,068 -
Total Expenditures 7,221,737 8,628,287 8,162,230 8,133,944 8,220,484 8,496,715 276,231
439,785 (881,413) (41,308) 334,456 141,461 231,414 89,953
OTHER FINANCING SOURCES (USES)
79 - Capital Lease Proceeds 16,740 474,300 - - - - -
79 - Transfers In - - - - - - -
89 - Transfer Out (Use)(45,000) - - (60,000) (85,000) (76,000) 9,000
Total Other Financing Sources (Uses)(28,260) 474,300 - (60,000) (85,000) (76,000) 9,000
NET CHANGES IN FUND BALANCE 411,525 (407,113) (41,308) 274,456 56,461 155,414 98,953
-
FUND BALANCE, BEGINNING 913,117 1,324,642 917,529 876,221 876,221 932,682 56,461
FUND BALANCE, ENDING 1,324,642 917,529 876,221 1,150,677 932,682 1,088,096 155,414
Assigned - Technology/FF&E - 125,000 - - - - -
ENDING FUND BALANCE (UNASSIGNED)1,324,642$ 792,529$ 876,221$ 1,150,677$ 932,682$ 1,088,096$ 155,414$
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, 2019
92
Variance
Amended Adopted Amended to
FY 17/18 FY 18/19 Adopted
FEDERAL GRANTS THROUGH TEA
Fund 224 - IDEA B 114,796$ 104,000$ (10,796)$
Sub-total Federal Grants 114,796 104,000 (10,796)
STATE GRANS THROUGH TEXAS
Fund 410 - Material Allotment Disbursment 126,368 31,028 (95,340)
Sub-total State Grants 126,368 31,028 (95,340)
LOCAL ACTIVITIES
Fund 461 - Local Campus Activity 63,364 60,000 (3,364)
Fund 484 - Local Grants (HOC & WAF)158,784 150,000 (8,784)
Fund 498 - International Mindedness Syposium 7,038 6,000 (1,038)
Sub-total Local Activities 229,186 216,000 (13,186)
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 Revenues & Expenditures $ 472,850 $ 353,528 $ (119,322)
NOTE: 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.
WESTLAKE ACADEMY
SCHEDULE OF EXPENDITURES
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2019
93
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
REVENUES
Local Program Revenues 526,266$ 155,042$ 269,700$ 70,500$ 231,686$ 218,500$ (13,186)$
State Program Revenues 40,291 139,222 11,342 157,396 126,368 31,028 (95,340)
Federal Program Revenues 162,270 98,564 140,152 104,000 114,796 104,000 (10,796)
Total Revenues 728,827 392,828 421,194 331,896 472,850 353,528 (119,322)
EXPENDITURES (BY FUNCTION)
11 - Instructional 373,136 391,009 284,546 269,896 248,202 237,528 (10,674)
12 - Resources & Media - 3,709 - - - - -
13 - Staff Development 57,213 36,639 41,846 - - 25,000 25,000
21 - Instructional Leadership 35,145 - - - - - -
23 - School Leadership 91,641 25,637 23,204 - - 3,000 3,000
31 - Guidance & Counseling 93 - - - - - -
36 - CoCurricular/Extracurricular Activities 19,825 39,638 96,257 60,000 224,648 88,000 (136,648)
41 - Administrative 7,000 25 - - - - -
Total Expenditures 584,053 496,657 445,853 329,896 472,850 353,528 (119,322)
(Under) Expenditures 144,774 (103,829) (24,659) 2,000 - - -
OTHER FINANCING SOURCES (USES)
79 - Other Resources - - - - - - -
89 - Other Uses - - (37,090) - - - -
Total Other Financing Sources (Uses)- - (37,090) - - - -
NET CHANGES IN FUND BALANCE 144,774 (103,829) (61,749) 2,000 - - -
FUND BALANCE, BEGINNING 46,781 191,555 87,726 25,977 25,977 25,977 -
FUND BALANCE, ENDING 191,555 87,726 25,977 27,977 25,977 25,977 -
FUND BALANCE, ENDNG (Unassigned)191,555$ 87,726$ 25,977$ 27,977$ 25,977$ 25,977$ -$
Adopted Amended Adopted Variance
Audited Audited Audited Budget Budget Budget Amended to
FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 17/18 FY 18/19 Adopted
EXPENDITURES BY OBJECT CODE
61XX - Payroll & Related Items 301,481$ 145,708$ 188,356$ 104,000$ 118,160$ 104,000$ (14,160)$
62XX - Contracted Services 43,063 34,933 33,541 - 20,000 - (20,000)
63XX - Supplies & Materials 154,820 198,514 67,112 220,396 312,190 243,528 (68,662)
64XX - Other Operating 84,689 117,502 156,844 5,500 22,500 6,000 (16,500)
Total Expenditures 584,053$ 496,657$ 445,853$ 329,896$ 472,850$ 353,528$ (119,322)$
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, 2019
94
WAF WAF International Total
IDEA-B Materials Campus Local Student Mindedness Special
Formula Allotment Activity Grants Travel Awards Symposium Revenue
224 410 461 484 497 498 Funds
REVENUES
Local Program Revenues -$ -$ 60,000$ 150,000$ 2,500$ 6,000$ 218,500$
State Program Revenues - 31,028 - - - - 31,028
Federal Program Revenues 104,000 - - - - - 104,000
Total Revenues 104,000 31,028 60,000 150,000 2,500 6,000 353,528
EXPENDITURES (BY FUNCTION)
11 - Instructional 104,000 31,028 - 100,000 2,500 - 237,528
13 - Staff Development - - - 22,000 - 3,000 25,000
21 - Instructional Leadership - - - - - - -
23 - School Leadership - - - - - 3,000 3,000
36 - Co-Curricular Activities - - 60,000 28,000 - - 88,000
Total Expenditures 104,000 31,028 60,000 150,000 2,500 6,000 353,528
Excess (Deficiency) of Revenues
Over (Under) Expenditures - - - - - - -
NET CHANGES IN FUND BALANCE - - - - - - -
FUND BALANCE, BEGINNING - - - - - - -
FUND BALANCE, ENDING -$ -$ -$ -$ -$ -$ -$
WESTLAKE ACADEMY
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE
ALL SPECIAL REVENUE FUNDS
For the Year Ending August 31, 2019
95
MUNICIPAL DEBT SERVICE
The Town of Westlake owns the land on which the Academy is located, and including 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 $1.828M, 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 18/19 debt service payments related to the construction of Westlake Academy facilities include:
Amount Series Fund Debt Service Type Bond Type
$ 886,425 Series 2011 300 General Obligation Refunding Bonds Refunding of 2002/2003
446,018 Series 2013 300 Certificates of Obligation Westlake Academy Expansion
169,463 Series 2013 301 General Obligation Refunding Bonds Refunding of 2008
69,860 Series 2014 300 General Obligation Refunding Bonds Refunding of 2003
257,025 Series 2017 300 General Obligation Refunding Bonds Refunding of 2007 (orig 2002)
$ 1,828,791 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, which has
continued through 2017/18.
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 IMPROVEMENT 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. Municipal Fund 412 is used for capital projects for Westlake Academy.
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.
97
The FY 18/19 municipal budget for Fund 412 currently projects $85,000 for consultant fees related to the
Westlake Academy campus facility master plan. The following is from the capital project worksheet for Fund
412 in the municipal budget.
• The Westlake Academy campus facility master planning was discussed at a joint Town Council/Board of
Trustees workshop on February 5, 2018.
• The discussion on February 5th with the Council/Board focused on the need and desire to re-address capital
improvement planning for Westlake Academy.
• Presently we have a multi-year Westlake Academy (WA) Campus Facility Master Plan that was adopted by
the Town Council on November 12, 2012 and by the Board of Trustees on November 5, 2012. Much time and
effort as well as financial resources were invested in this Plan.
• Since it has been almost six years since it was approved and adopted, it is time to re-examine the Plan again,
if for no other reason than to make sure it is still meeting the Town’s needs for its school, Westlake Academy.
• If approved the Staff approach is a “three pronged” approach, with parallel pathways conducted
concurrently which ultimately intersect, thus moving us forward in both the short and the long term.
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98
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
99
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100
PERSONNEL STAFFING & 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 AND RELATED COSTS (ALL FUNDS)
EMPLOYEE POSITIONS BY TYPE
Employee Type FY 13/14
Actual FY 14/15
Actual FY 15/16
Actual FY 16/17
Actual FY 17/18
Amended FY 18/19
Adopted
Change
Principals 4.00 4.50 4.50 4.50 4.50 4.75 0.25
Coordinators 3.50 3.50 4.50 4.50 3.50 4.25 0.75
Primary 19.90 23.59 27.00 27.00 27.00 26.50 (0.50)
Secondary 24.91 30.92 32.06 32.55 34.26 34.83 0.57
Support 13.97 18.10 15.50 15.00 14.00 13.00 (1.00)
Instr Specialist 3.50 5.00 6.25 6.00 5.00 4.75 (0.25)
WA Foundation 1.50 1.50 1.50 1.50 1.50 1.50 -
Facilities 1.60 2.00 2.00 2.00 2.00 2.00 -
Technology 1.80 1.10 2.00 2.00 2.00 2.00 -
Total Staff 74.68 90.21 95.31 95.05 93.76 93.58 (0.18)
Total Teachers 48.31 59.51 65.31 65.55 66.26 66.08 (0.18)
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.
FY 17/18
Amended
FY 18/19
Adopted
Change
Amount
Change
Percent
Payroll Wages $ 5,456,724 $ 5,669,248 $ 212,524 3.9%
Social Security/Medicare 84,575 85,419 844 1.0%
Health Insurance 274,410 273,979 (431) -0.2%
Workers’ Compensation 28,946 29,185 239 0.8%
TRS On-Behalf 392,275 389,161 (3,114) -0.8%
Unemployment Taxes 22,768 20,471 (2,297) -10.1%
Retirement (TRS) 118,700 117,840 (860) -0.7%
GRAND TOTAL $ 6,378,398 $ 6,585,303 $ 206,905 3.2%
101
PERSONNEL STAFFING & PAYROLL OVERVIEW
PERSONNEL POSITION SUMMARY
4.00 4.50 4.50 4.50 4.50 4.75 3.50 3.50 4.50 4.50 3.50 4.25
19.90 23.59 27.00 27.00 27.00 26.50
24.91
30.92
32.06 32.55 34.26 34.83
13.97
18.10
15.50 15.00 14.00 13.00
3.50
5.00 6.25 6.00 5.00 4.75
0
25
50
75
100
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY 16/17
Actual
FY 17/18
Amended
FY 18/19
Proposed
Defined Employee Groups by FTE
Technology
Facilities
WA Foundation
Instr Specialist
Support
Secondary
Primary
Coordinators
Principals
Principals
5%
Coordinators
5%
Primary
29%
Secondary
35%
Support
15%
Specialist
6%
Foundation
1%
Facilities
2%
IT Dept.
2%
Employee
Positions
by Type
102
PERSONNEL STAFFING & PAYROLL OVERVIEW
Positions
FY
14/15
Actual
FY
15/16
Actual
FY
16/17
Actual
FY
17/18
Amended
FY
18/19
Adopted Change
Classes Served K-12 K-12 K-12 K-12 K-12
Executive Director 1.00 1.00 1.00 1.00 1.00 -
Primary Principal 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 - - -
Asst MYP Principal 1.00 1.00 1.00 - - -
Secondary (DP) Principal 0.50 0.50 0.50 1.00 1.00 -
Asst Secondary Principal - - - 0.50 0.75 0.25
Principal Staffing 4.50 4.50 4.50 4.50 4.75 0.25
DP Coordinator 0.50 0.50 0.50 0.50 0.50 -
MYP Academic Dean - 1.00 1.00 - - -
MYP Coordinator 1.00 1.00 1.00 0.50 0.50 -
PYP Coordinator 1.00 1.00 1.00 1.00 1.00 -
CTE Coordinator - - - 0.50 0.50 -
Student Services Coordinator - 1.00 1.00 - - -
Admin Coordinator 1.00 - - - - -
Compliance Coordinator - - - 0.50 0.25 (0.25)
Athletic Director - - - 0.50 0.50 -
Alumni/Communications Specialist - - - - 1.00 1.00
Coordinator Staffing 3.50 4.50 4.50 3.50 4.25 0.75
Primary - Kindergarten 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 1 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 2 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 3 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 4 3.00 3.00 3.00 3.00 3.00 -
Primary - Grade 5 3.00 3.00 3.00 3.00 3.00 -
Primary - Art 1.50 1.00 1.00 1.00 1.00 -
Primary - Counselor 1.35 1.00 1.00 1.00 1.00 -
Primary - Math - 1.00 1.00 1.00 1.00 -
Primary - Music 0.40 1.00 1.00 1.00 1.00 -
Primary - PE 1.00 2.00 2.00 2.00 2.00 -
Primary - Reading Specialist 0.34 1.00 1.00 1.00 1.00 -
Primary - Spanish 1.00 2.00 2.00 2.00 1.50 (0.50)
Primary Staffing 23.59 27.00 27.00 27.00 26.50 (0.50)
Secondary - Art 1.32 2.32 2.16 1.67 1.50 (0.17)
Secondary - Business Management - - 0.50 1.00 1.00 -
Secondary - Counselor 1.35 1.00 1.30 2.00 2.00 -
Secondary - Economics 1.00 1.00 1.00 1.00 1.00 -
Secondary - English 4.00 3.50 3.50 3.50 3.50 -
Secondary - Foreign Language 4.34 4.32 4.00 4.17 5.00 0.83
Secondary - Grade 6 3.00 3.00 3.00 3.00 3.00 -
Secondary - Humanities 3.75 3.92 4.25 3.92 4.00 0.08
Secondary - Math 5.00 5.50 5.50 5.67 5.67 -
103
PERSONNEL STAFFING & PAYROLL OVERVIEW
Positions
FY
14/15
Actual
FY
15/16
Actual
FY
16/17
Actual
FY
17/18
Amended
FY
18/19
Adopted Change
Secondary - PE 2.00 2.00 2.00 2.00 2.00 -
Secondary - Performing A&D - 1.00 1.00 1.00 1.00 -
Secondary - Personal Project - 0.50 0.50 0.50 0.50 -
Secondary - Science 3.50 4.00 3.84 4.33 4.33 -
Secondary - CTE/STEM - - - 0.50 0.33 (0.17)
Secondary - Reading Specialist 0.66 - - - - -
Secondary - Theater Arts 1.00 - - - - -
Secondary Staffing 30.92 32.06 32.55 34.26 34.83 0.57
Teaching Aides 8.00 8.50 8.00 7.00 6.00 (1.00)
Librarian/Aide 1.00 1.00 1.00 1.00 1.00 -
Nurse 1.00 1.00 1.00 1.00 1.00 -
Office Aide 4.10 4.00 4.00 4.00 4.00 -
Registrar 1.00 1.00 1.00 1.00 1.00 -
Director of Student Life 1.00 - - - - -
Director of Curriculum 1.00 - - - - -
Study Hall/Tutor 1.00 - - - - -
Support Staffing 18.10 15.50 15.00 14.00 13.00 (1.00)
Diagnostician/ Literacy - - 1.00 1.00 1.00 -
Occupational Therapist - - - - 0.25 0.25
IT Integration 1.00 1.00 1.00 1.00 0.50 (0.50)
Special Education 3.00 3.25 3.00 3.00 3.00 -
Speech - 1.00 - - - -
Strings Staff 1.00 1.00 1.00 - - -
Specialist Staffing 5.00 6.25 6.00 5.00 4.75 (0.25)
WAF Director 1.00 1.00 1.00 1.00 1.00 -
WAF Office Aide 0.50 0.50 0.50 0.50 0.50 -
Foundation Staffing 1.50 1.50 1.50 1.50 1.50 -
Facilities Day Porter 1.00 1.00 - - - -
Facilities Technician 1.00 1.00 2.00 2.00 2.00 -
Facilities Staffing 2.00 2.00 2.00 2.00 2.00 -
IT Coordinator - 1.00 1.00 1.00 1.00 -
IT Tech 1.10 1.00 1.00 1.00 1.00 -
IT Dept Staffing 1.10 2.00 2.00 2.00 2.00 -
Total Positions 90.21 95.31 95.05 93.76 93.58 (0.18)
104
PERSONNEL STAFFING & 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.
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
Communications
Information
Technology
Police Services
(contracted thru the
City of Keller)
Manager
TOWN MANAGER &
Facilities
Maintenance .50
Lieutenants
(3)
1 Part Time
Court Clerk
Court
Administrator
PT Firefighter
Paramedics 24
HR Generalist Academic
Acctg Tech II
WA Technician
Advisory Boards
And Committees
Town Attorney
Court Judge
Texas Student Housing
Deputy Chief
Fire Marshal
1 Technician UB Coordinator
Building Inspector
Permit Clerk
P&D 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
PW Inspector
Project Manager
WA SUPERINTENDENT
continued on next page
Parks and
Recreation .50
FT Firefighter
Paramedics 9
WA
Coordinator
WA
Technician
Network
Manager
Assistant
1 Full Time
Court Clerk
2 Part Time
Marshals Lead Clerk
106
WA SUPERINTENDENT
BOARD OF TRUSTEES
WESTLAKE ACADEMY
EXECUTIVE DIRECTOR
continued from previous page Executive Director
W.A. Foundation
Assistant
This organizational chart is a visual depiction of the way work is distributed within Westlake Academy
Heads of
Department
Grade Level
Team Leads
SPED CoordinatorPrimary Principal
Primary Assistant
Principal
Primary Curriculum
Coordinator
Primary Counselor
Primary Faculty
and Staff
Librarian
Technology
Coordinator
Secondary
Principal
Secondary Counselor
College Counselor
MYP/DP Faculty
and Staff
Registrar
Administrative
Staff
Secondary Assistant
Principal
Athletic Dir.
Student Life Coordinator
MYP/DP Curriculum
Coordinators
This chart is 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.
SPED Faculty
and Staff
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 2020
• Laura Wheat, President Term expires May 2020
• Carol Langdon Term expires May 2019
Back Left to Right
• Rick Rennhack Term expires May 2019
• Michael Barrett Term expires May 2020
• 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 (MYP/DP) Principal
*Todd Wood
Director of Human Resources &
Administrative Services
Jennifer Furnish
Secondary Assistant Principal
TEA/Charter Compliance
Coordinator
Dr. Shelly Myers
Executive Director of the WAF
& Director of Development
Terri Watson
MYP Coordinator
Secondary Curriculum Coordinator
*Asterisk denotes shared services
personnel between the academic
and municipal service teams of
the Town of Westlake.
Dr. James Owen
DP Coordinator
Secondary Curriculum Coordinator
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 appoints a Superintendent to oversee the Academy’s management and
operations. The Superintendent also serves as Westlake’s Town Manager.
• The Academy’s organizational structure is based on research into management of municipally owned
charter schools.
• The current structure was adopted by the Board in Resolution 09-23 on December 7, 2009.
The Superintendent is responsible for the implementation of the Board’s policy agenda for Westlake Academy,
facilitating the Board’s strategic plan, formulating policy recommendations for Board consideration, and
providing managerial oversight of the Academy’s budget administration, finances, and budget preparation.
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.
Human Resource
Department
Managing personnel needs for both the Municipal and Academic
staff
110
ORGANIZATIONAL STRUCTURE
ACADEMIC MANAGEMENT
E XECUTIVE D IRECTOR
• 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.
P RIMARY Y EARS P RINCIPAL (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.
P RIMARY A SSISTANT P RINCIPAL
• 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.
P RIMARY Y EARS C URRICULUM C OORDINATOR
• 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.
S ECONDARY P RINCIPAL (MYP & DP P RINCIPAL)
• 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.
• 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.
111
ORGANIZATIONAL STRUCTURE
ACADEMIC MANAGEMENT
S ECONDARY A SSISTANT P RINCIPAL
• 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.
S ECONDARY (MYP/DP) C URRICULUM C OORDINATORS
• The Secondary Curriculum Coordinators are primarily responsible for the
vertical and horizontal articulation of curriculum.
• The positions support 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 Coordinators are members of the ILT.
A THLETIC D IRECTOR AND S TUDENT L IFE C OORDINATOR
• 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.
D IRECTOR OF D EVELOPMENT
• 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
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
113
This page is intentionally blank
114
IBO 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
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.
116
IB LEARNER PROFILE
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
ENROLLMENT BOUNDARIES
59.0%
41.0%32.0%
59.0%59.0%
18.0%
24.0%27.0%
15.0%15.0%
11.0%
17.0%20.0%
15.0%15.0%
12.0%18.0%21.0%11.0%11.0%
0%
20%
40%
60%
80%
100%
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Actual
FY 17/18
Amended
FY 18/19
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 30 of the surrounding school district’s boundaries.
.
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
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.
119
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 365
students since FY 09/10 as the result of
increased demand and planned
expansions.
The Academy will be able to serve
approximately 876 students in the
2018/19 school year.
Future enrollment must be carefully
managed to ensure adequate space for
primary boundary residents.
An average class size is maintained:
•19 students per class in grades K-5
•25 students per class in grades 6-12.
The Academy currently has under 2,000
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.
697 812 825 830 856 876
FY 13/14
Actual
FY 14/15
Actual
FY 15/16
Actual
FY16/17
Actual
FY 17/18
Amended
FY 18/19
Proposed
Student Enrollment History
856
876 886 896 906 916
FY 17/18
Amended
FY 18/19
Proposed
FY 19/20
Projected
FY 20/21
Projected
FY 21/22
Projected
FY 22/23
Projected
Student Enrollment Forecast
2,400 2,314 2,411
1,988
FY 15/16
Actual
FY16/17
Actual
FY 17/18
Actual
FY 18/19
To-Date
Lottery Waiting List
$10,105
$9,722
$9,877 $9,943 $10,002 $9,987
FY16/17
Actual
FY17/18
Adopted
FY 17/18
Amended
FY 18/19
Proposed
FY 19/20
Projected
FY 20/21
Projected
Expenditures per Student
Academic only
120
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 curriculum framework for children aged 3-12 that prepares students for the intellectual
challenges of further education and their future careers, focusing on the development of the whole child
as an inquirer, both in the classroom and in the 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.
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.
121
PRIMARY YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Primary Years Programme (PYP) – grades K-5
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 2018/19 school year are projections based upon Westlake’s
goal to have a Level III rate of at least 50% in all subjects tested.
PRIMARY YEARS PROGRAMME ** EOC & STAAR RESULTS
READING
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 3
2015-2016 97% 58%
2016-2017 96% 62%
2017-2018 90% 45%
2018-2019 100% 70%
Grade 4
2015-2016 96% 41%
2016-2017 97% 47%
2017-2018 98% 53%
2018-2019 100% 65%
Grade 5
2015-2016 100% 36%
2016-2017 98% 55%
2017-2018 100% 56%
2018-2019 100% 70%
WRITING
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 4
2015-2016 89% 37%
2016-2017 81% 16%
2017-2018 95% 29%
2018-2019 93% 50%
SCIENCE
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 5
2015-2016 88% 2%
2016-2017 98% 33%
2017-2018 98% 35%
2018-2019 100% 50%
122
PRIMARY YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Primary Years Programme (PYP) – grades K-5
MATH
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 3
2015-2016 97% 24%
2016-2017 100% 55%
2017-2018 93% 55%
2018-2019 100% 70%
Grade 4
2015-2016 89% 30%
2016-2017 97% 44%
2017-2018 93% 61%
2018-2019 100% 70%
Grade 5
2015-2016 100% 38%
2016-2017 100% 57%
2017-2018 100% 85%
2018-2019 100% 70%
Senior Kindergarten Buddies 2018
123
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
Department Contact Information
Stacy Stoyanoff
Secondary 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
Physical and health education
Language and literature
Individuals and societies
Arts
Design
Science
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.
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.
124
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
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 2018/19 school year are
projections based upon Westlake’s goals.
MIDDLE YEARS PROGRAMME ** EOC & STAAR RESULTS
READING
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 6 2015-2016 97% 50%
2016-2017 93% 44%
2017-2018 93% 55%
2018-2019 100% 65%
Grade 7 2015-2016 97% 50%
2016-2017 100% 57%
2017-2018 93% 55%
2018-2019 100% 57%
Grade 8 2015-2016 100% 45%
2016-2017 96% 58%
2017-2018 99% 62%
2018-2019 100% 65%
WRITING
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 7 2015-2016 99% 63%
2016-2017 93% 31%
2017-2018 95% 63%
2018-2019 100% 50%
HUMANITIES
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 8 2015-2016 99% 55%
2016-2017 91% 53%
2017-2018 91% 39%
2018-2019 100% 65%
125
MIDDLE YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Middle Years Programme (MYP) – grades 6-10
SCIENCE
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 8 2015-2016 99% 39%
2016-2017 93% 19%
2017-2018 91% 51%
2018-2019 100% 50%
Biology EOC
Grade 9
2015-2016 100% 46%
2016-2017 100% 53%
2017-2018 99% 49%
2018-2019 100% 65%
MATH
Grade Level Comparison Year Passed Mastered at Advanced Level
Grade 6 2015-2016 97% 35%
2016-2017 99% 44%
2017-2018 99% 49%
2018-2019 100% 60%
Grade 7 2015-2016 97% 38%
2016-2017 94% 62%
2017-2018 96% 51%
2018-2019 100% 70%
Algebra I 2015-2016 99% 55%
2016-2017 99% 44%
2017-2018 100% 73%
2018-2019 100% 60%
ENGLISH
Grade Level Comparison Year Passed Mastered at Advanced Level
9 English I 2015-2016 99% 46%
2016-2017 99% 32%
2017-2018 96% 35%
2018-2019 100% 50%
10 English II 2015-2016 100% 35%
2016-2017 96% 22%
2017-2018 99% 43%
2018-2019 100% 50%
126
DIPLOMA YEARS PROGRAMME – GOALS AND OBJECTIVES
IB Diploma Programme (DP) – grades 11-12
Department Contact Information
Stacy Stoyanoff
Secondary 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?", while other questions include:
o What counts as evidence for X?
o How do we judge which is the best model of Y?
o What does theory Z mean in the real world?
• Through discussions of these and other questions, students gain greater awareness of their
personal and ideological assumptions, as well as developing an appreciation of the diversity and
richness of cultural perspectives.
• Creativity, Action, Service (CAS) - Participation in the school’s CAS programme encourages students
to be involved in artistic pursuits, sports and community service work, fostering student awareness
and appreciation of life outside the academic arena.
127
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 2018/19 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
2015-2016 100% 71%
2016-2017 100% 70%
2017-2018 100% 91%
2018-2019 100% 75%
128
BENCHMARK 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 2018, Westlake Academy was awarded (4.5) 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 2018 TXSmartSchools results are based on data
from the 2014-2015, 2015-2016 and 2016-2017 school years.
Spending Index Very Low Spending
Composite Academic Progress Quintile Very High Academic Progress
TEA Accountability Rating Met Standard
Benchmarking against surrounding Tarrant County charter schools, 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
Smart
Score
%
LEP
% Special
Education
% Student
Mobility
Texas School of the Arts 342 0.012 $6,933 3.5 5.0 3.5 8.7
Treetops School International 415 0.055 $6,829 4.5 0.0 6.0 5.8
Chapel Hill Academy 518 0.032 $8,559 3.5 6.6 6.6 6.3
East FW Montessori Academy 520 -0.057 $7,625 3.0 34.8 3.3 13.9
Fort Worth Academy of Fine Arts 569 0.094 $8,193 5.0 1.6 3.0 6.4
Westlake Academy 843 0.207 $9,573 4.5 .2 4.2 4.6
Arlington Classics Academy 1486 0.084 $6,390 5.0 4.4 3.3 5.5
Newman International Academy 2208 -0.053 $7,943 3.0 10.1 4.8 20.3
129
BENCHMARK DATA
PER-PUPIL EXPENDITURE COMPARISON
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 8,417 8,446
16/17 10,105 Data N/A 8,667 8,772
17/18 9,851 Data N/A 8,678 7,252
18/19 adopted 9,929 Data N/A Data N/A 8,493
STUDENT-TEACHER RATIO COMPARISON
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 13.6 17.1 15.9 15.1 15.5
13/14 11.7 16.6 16.0 14.9 15.4
14/15 12.4 15.6 15.4 14.8 15.2
15/16 12.6 15.4 Data N/A Data N/A 15.2
16/17 12.6 15.1 Data N/A Data N/A Data N/A
17/18 12.9 14.9 Data N/A Data N/A Data N/A
18/19 adopted 13.3 16.0 Data N/A Data N/A Data N/A
WESTLAKE ACADEMY INTERNATIONAL BACCALAUREATE DIPLOMA RECIPIENT RATE
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% 78.4%
2018 50 out of 62 80.6% NA
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.
* Increase due
to additional
expenditures
related to the
use of designated
fund balance for
technology needs
in FY 15/16.
130
BENCHMARK DATA
WESTLAKE ACADEMY SCHOOL STATISTICS
ACCELERATED PROGRAM PARTICIPATION
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
2018 62 29 4.71 37
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
2018 179 331
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 60 57.9
2017 65 57.9
2018 68 61.3
64.00
77.00
53.00
46.00
60.00
65.00
68.00
56.80 57.40 59.50 57.90 57.90 57.90
61.30
2012 2013 2014 2015 2016 2017 2018
% Exams Scoring 3+% Global Exams Scoring 3+
The chart to the right 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.
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, 2019 AP scores will continue to
be above the global passing rate.
131
TEXAS EDUCATION AGENCY
2017 ACCOUNTABILITY SUMMARY
(2018 Data will be available Aug 2018)
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
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
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
Mobility Rate 4.6
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%
Met Federal Limits on
Alternative Assessments
1 out of 1 = 100%
Total 26 out of 26 = 100%
132
ACADEMIC ACHIEVEMENTS
N ATIONAL R ECOGNITION
Westlake Academy was ranked #79 of all high schools and #27 of all charter
high schools in the United States in US News and World Report. In addition,
US News and World Report ranked Westlake Academy #13 of all high schools
in Texas.
Westlake Academy was ranked #3 of all high schools in Tarrant County by the
Children at Risk organization. Additionally, Westlake Academy was ranked #4 of all middle
schools and #10 in all elementary schools in Tarrant County.
Westlake Academy was named to the prestigious Texas Honor School Roll by the
Educational Results Partnership and the Institute for Productivity in Education.
Niche rankings revealed Westlake Academy as the 4th best charter high school in Texas,
and 3rd best charter in both elementary and middle schools in Texas.
S TUDENT A CCOMPLISHMENTS
12 of the 65 graduates attended Westlake Academy from Kindergarten through 12th grade
Celebrated our 1st Golden Tassel Ceremony, honoring the top 10% students
50 Academy graduates received the prestigious IB Diploma.
The graduating class received over $4.7 million in scholarship and grant offers.
All students were accepted into at least one college/university, with
many into top tier schools across the State and the United States
One graduate will be attending the US Military Academy.
Four graduates were named a National Merit Commended Scholar.
One graduate was named a National Merit Hispanic Scholar.
Eleven graduates were named an AP Scholar.
Eleven graduates were named an AP Scholar with Honor.
Eleven graduates were named an AP Scholar with Distinction.
One graduate was named a National AP Scholar.
59% of the Class of 2018 applied to a college/university through an Early Admissions Program.
133
ACADEMIC ACHIEVEMENTS
N OTABLE S CHOOLS (WITH LESS THAN 20% ACCEPTANCE RATE PER US N EWS &
W ORLD R EPORT) WA S TUDENTS A CCEPTED
California Institute of Technology
Colorado College
Cornell University
Dartmouth College
Duke University
Georgetown University
Johns Hopkins University
Northwestern University
Pomona College
Rice University
Stanford University
United States Air Force Academy
United States Military Academy
University of California, Berkeley
University of California, Los Angeles
University of Notre Dame
University of Pennsylvania
University of Southern California
Vanderbilt University
Yale University
134
ACADEMIC ACHIEVEMENTS
N OTABLE S CHOLARSHIPS S TUDENTS W ERE A WARDED
Davidson College – Bryan Scholar
Provost Scholarship – Southern Methodist University
Provost Scholarship – Colorado State University
Foundation in Excellence – University of Alabama
Dean’s Excellence Scholarship – St. Edward’s University
Prominence Scholarship – Ohio State University
Founders Scholarship – Texas Christian University
Murchison Scholarship – Trinity University
Presidential Scholarship – Ouachita Baptist University
President’s Scholarship – Rhodes College
Trustee Scholarship – St. John’s College
Dean’s Scholarship – Baylor University
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 (GFOA).
The Academy received the Meritorious Budget Award from the Association of School
Business Officials International (ASBO).
2018 Graduating Class, June 2018
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 2017/2018 school year saw 33 High School Athletes earn All-
State Honors, 56% of the student body in grades 9-12 participate
in at least one sport, and 58% of students in grades 6-12
participate in at least one sport.
THE 2017/2018 ACHIEVEMENTS INCLUDE:
Varsity Volleyball Junior Varsity Volleyball
4th Consecutive District & State Champions District & Regional Champions
Varsity Soccer Junior High Soccer
State Champions District & Regional Champions
Varsity Cross Country Varsity Tennis
Individual Men’s & Women’s State Champions
Men’s & Women’s Team State Champions
District Runner up
Women’s Doubles State Runner Up
Varsity Football Junior High Men’s & Women’s Basketball
State Semifinalist Women’s District & Regional Champions
Varsity Men’s Basketball Junior Varsity Men’s Basketball
District Champions & State 3rd Place Regional Runner Up
Varsity Women’s Basketball Varsity Softball
District & State Champions State Runner Up
Varsity Men’s Golf Varsity Women’s Golf
Individual State Champions
Team District & State Champions
Individual State Champions
Team District & State Champions
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 & State Champion Men’s Team Regional Runner Up
137
DIRECTION FINDER
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
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%)
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”.
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.
* * *
138
DIRECTION FINDER
PARENT SURVEY RESULTS
Very
Satisfied or
Satisfied
83%Dissatisfied
8%
Neutral
9%
Overall Satisfaction with the Quality of Education.
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
Westlake Communiqué.
o 92% of the parents surveyed agreed that the Communiqué provides important school
information.
o 77% of the parents surveyed agreed that the Communiqué is attractive and interesting.
o 74% of the parents surveyed agreed that the Communiqué is easy to read.
Parental Involvement.
o 50% of the parents surveyed indicated they currently volunteer at the Academy. Of the 50%
of parents that don’t currently volunteer, 32% indicated they would like to volunteer.
o The average number of hours that parents reported they volunteered each year was 40.5
hours.
o 19% of parents reported they would be willing to serve as an expert in their field for
classroom instruction.
o 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.
o 95% of the parents felt they did not have any problems
scheduling conferences,
o 5% reported they did have a problem scheduling a conference.
OVERALL SATISFACTION
WITH QUALITY OF EDUCATION
83% of the parents surveyed were very
satisfied or satisfied with the overall
quality of education Westlake Academy
delivers to its students.
139
DIRECTION FINDER
PARENT SURVEY RESULTS
Academic Progress of Their Children.
o 80 % of the parents surveyed felt their
child’s academic progression was
“ahead of expectations” or “at
expectations;”
o 21% felt their child’s progression was
“below expectations”.
o 8% were neutral
Communication and Outreach.
o 79% of the parents surveyed agreed
the Academy’s teaching, assessments and learning reflects the IB Philosophy.
o 90% of the parents surveyed agreed that email is their preferred method of communication
with teachers.
o 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 88% of the parents surveyed agreed that the administration staff at the Academy were
friendly and helpful.
o 84% of the parents surveyed felt the rate of frequency of communications from Westlake
Academy is adequate.
Other Findings.
o 85% parents reported they reference the Academy master calendar on a regular basis.
o 34% of the parents 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 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 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
1% indicated their child would most likely be home
schooled.
Parents Continue to Feel Their Children Are Safe at Westlake Academy.
o 91% of the parents surveyed felt their child was emotionally safe
at school;
o 95% of the parents surveyed felt their child was physically safe
at school.
Ahead of or
at
Expectation
80%Below
Expectations
21%
Neutral
8%
140
15TH
A NNIVERSARY
W ESTLAKE
A CADEMY
A NNIVERSARY
50TH
INTERNATIONALBACCALAUREATE
141
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142
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 on
the basis of safety.
• Liquidity - The Academy's investment portfolio will remain sufficiently liquid to enable it
to meet all operating requirements which might be reasonably anticipated. Investment
decisions will be based on cash flow analysis of anticipated expenditures.
• Diversification - Diversification is required in the portfolio's composition. Diversification
will include diversification by maturity and market sector and will include the use of a
number of broker/dealers or banks for diversification and market coverage. Competitive
bidding will be used on each sale or purchase.
• Yield - The Academy's investment portfolio shall be designed with the objective of
attaining a reasonable market yield, 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.
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INVESTMENT POLICY
The authorized investment purchased will be of the highest credit quality and marketability
supporting the objectives of safety and liquidity. Securities, when not matched to a specific
liability, will be short term to provide adequate liquidity. The portfolio shall be diversified to
protect against market and credit risk in any one sector.
The maximum weighted average maturity of the portfolio will be no more than 180 days and the
maximum stated maturity of any security will not exceed two years. The funds are combined for
investment purposes but the unique needs of all the funds in the portfolio are recognized and
represented.
Effective cash management is recognized as essential to good fiscal management. Cash
management is defined as the process of managing monies 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.
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INVESTMENT POLICY
No officer or designee may engage in an investment transaction except as provided under the
terms of this Policy and the procedures established by the Investment Officer and approved by the
Superintendent.
VI. PRUDENCE
The standard of prudence to be used in the investment function shall be the "prudent person"
standard and shall be applied in the context of managing the overall portfolio. This standard
states:
"Investments shall be made with judgment and care, under circumstances then prevailing, which
persons of prudence, discretion, and intelligence exercise in the management of their own affairs,
not for speculation, but for investment, considering the probable safety of their capital as well as
the expected income to be derived."
• Limitation of Personal Liability - The Investment Officer and those delegated investment
authority, when acting in accordance with the written procedures and this Policy and in
accord with the Prudent Person Rule, shall be relieved of personal liability in the
management of the portfolio provided that deviations from expectations for a specific
security's credit risk or market price change are reported in a timely manner and that
appropriate action is taken to control adverse market effects.
VII. INTERNAL CONTROLS
The Investment Officer shall establish a system of written internal controls which will be reviewed
annually with the independent auditor of the Academy. The controls shall be designed to prevent
loss of public funds due to fraud, employee error, and misrepresentation by third parties, or
imprudent actions by employees of the Academy.
VIII. AUTHORIZED INVESTMENTS
Acceptable investments under this policy shall be limited to the instruments listed below. The
choice of high-grade government investments and high-grade, money market instruments are
designed to assure the marketability of those investments should liquidity needs arise.
•• Obligations of the United States Government, its agencies and instrumentalities, not to
exceed two (2) years to stated maturity and excluding mortgage backed securities;
•• Fully insured or collateralized certificates of deposit from a bank doing business in the
State of Texas and under the terms of a written depository agreement with that bank, not
to exceed one year to stated maturity;
•• No-load, SEC registered money market mutual funds. No more than 80% of the entity's
monthly average balance may be invested in money market funds and;
•• Constant dollar, AAA-rated Texas Local Government Investment Pools as defined by the
Public Funds Investment Act.
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INVESTMENT POLICY
If additional types of securities are approved for investment by public funds by state statute, they
will not be eligible for investment until this Policy has been amended and the amended version
adopted by the Board of Aldermen.
• Delivery versus Payment - All investment security transactions shall be conducted on a
delivery versus payment (DVP) basis to assure that the Academy has control of its assets
and/or funds at all times.
IX. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
Securities broker/dealers may be primary or regional broker/dealers and will meet other criteria
as determined by the Investment Officer including state registration and completion of an
Academy Broker/Dealer questionnaire (attached as Exhibit D). The following criteria must be met
by authorized firms.
•• annual provision of an audited financial statement,
•• proof of certification by the National Association of Securities Dealers (NASD)
•• proof of current registration with the Texas State Securities Commission, and
•• completion of the Academy's broker/dealer questionnaire.
Every bank and broker/dealer with whom the Academy transacts business will be provided a copy
of this Investment Policy to assure that they are familiar with the goals and objectives of the
investment program. The firm will be required to return a signed copy of the Certification Form
certifying that the Policy has been received and reviewed and only those securities approved by
the Policy will be sold to the Academy.
X. DIVERSIFICATION AND MATURITY LIMITATIONS
It is the policy of the Academy to diversify its investment portfolio. Invested funds shall be
diversified to minimize risk or loss resulting from over-concentration of assets in a specific
maturity, specific issuer, or specific class of securities. Diversification strategies shall be
established and periodically reviewed.
XI. SAFEKEEPING AND COLLATERALIZATION
The laws of the State and prudent treasury management require that all purchased securities be
bought on a delivery versus payment (DVP) basis and be held in safekeeping by either an
approved, independent third party financial institution or the Academy's designated depository.
Securities Owned by the Academy - All safekeeping arrangements shall be approved by the
Investment Officer and an agreement of the terms executed in writing. The safekeeping bank may
not be within the same holding company as the bank from which the securities are purchased. The
custodian shall be required to issue original safekeeping receipts to the Academy listing each
specific security, rate, description, maturity, cusip number, and other pertinent information.
Collateral - 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 always be made contractually liable for monitoring and maintaining the
146
INVESTMENT POLICY
collateral levels . All collateral will be held by an independent third-party bank outside the holding
company of the bank, pledged to the Academy.
Authorized collateral will include only:
• Obligations of the US Government, its agencies and instrumentalities to include
mortgage backed securities which pass the bank test,
• Municipal obligations rated at least A by two nationally recognized rating agencies.
The custodian shall be required to provide original safekeeping receipts clearly marked that the
security is pledged to the Academy.
XII. REPORTING
The Investment Officer shall submit quarterly reports to the Board of Trustees containing
sufficient information to permit an informed outside reader to evaluate the performance of the
investment program and in full compliance with the Act. At a minimum the report shall contain:
• Beginning and ending market value of the portfolio by market sector and total portfolio
• Beginning and ending book value of the portfolio by market sector and total portfolio
• Change in market value during the period
• Detail on each asset (book, market, description, par ad maturity date)
• Earnings for the period
• Overall weighted average maturity of the portfolio
The report will be prepared jointly by all involved in the investment activity and be signed by the
Investment Officer. It will contain all elements as required by the Act and be signed by the
Investment Officers as in compliance with the Act and this Policy. Market prices for assignment of
market values will be obtained from an independent source.
XIII. DEPOSITORIES
The Academy will designate one banking institution through a competitive process as its central
banking services provider at least every five years. This institution will be used for normal banking
services including disbursements, deposits, and safekeeping of Academy owned securities. Other
banking institutions from which the Academy may purchase only certificates of deposit will also be
designated as a depository.
All banking arrangements will be in written form in accordance with FIRREA which requires a
resolution of approval of the agreement by the Bank Council or Bank Loan Committee.
XIV. INVESTMENT POLICY ADOPTION BY BOARD
The Academy's Investment Policy and its incorporated strategies shall be adopted by resolution
annually by the Board. The approval and any changes made to the Policy will be noted in the
approving resolution.
147
FISCAL AND BUDGETARY POLICIES
I. STATEMENT OF PURPOSE
The broader intent of the following Fiscal and Budgetary Policy Statements is to enable the Academy to
achieve a long-term stable and positive financial condition. The watchwords of the Academy’s financial
management include integrity, prudent, stewardship, planning, accountability, and full disclosure.
The more specific purpose is to provide guidelines to the Finance Director in planning and directing the
Academy’s day-to-day financial affairs and in developing recommendations to the Academy Superintendent
or his designate and Academy Board of Trustees.
The scope of these policies generally span, among other issues, accounting, purchasing, auditing, financial
reporting, internal controls, operating budgeting, revenue management, cash and investment management,
expenditure control, asset management, debt management, and planning concepts, to:
• Present fairly and with full disclosure the financial position and results of the financial operations of
the Academy in conformity with generally accepted accounting principles (GAAP), and
• Determine and demonstrate compliance with finance related legal and contractual issues in
accordance with provisions of the Texas Local Government Code and other pertinent legal
documents and mandates.
The Academy Board of Trustees will annually review and approve the Fiscal and Budgetary Policy
Statements as part of the budget process.
II. SUMMARY OF POLICY INTENDED OUTCOMES
This policy framework mandates pursuit of the following fiscal objectives:
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.
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.
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FISCAL AND BUDGETARY POLICIES
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
1. 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.
2. 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.
3. 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.
4. Proposed Budget Content and Process – A proposed budget shall be prepared by the
Superintendent or his designate with the participation of the Academy’s Leadership Team, Finance
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FISCAL AND BUDGETARY POLICIES
Director and Academy staff, and then submitted to the Superintendent for review. Following the
Superintendent’s review, the proposed budget will be presented to the Board for its consideration.
The proposed budget shall include five basic segments for review and evaluation:
•personnel costs,
•base budget for operations and maintenance costs,
•service level adjustments for increases of existing service levels or additional services,
•revenues, and
•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.
5.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.
6.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.
7.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.
8.Reporting - Monthly financial reports will be prepared by the Finance Department and distributed
to the Superintendent or his designate. Information obtained from financial reports and other
operating reports is to be used by personnel to monitor and control the budget. Summary financial
reports will be presented to the Board quarterly.
IV.REVENUE MANAGEMENT
A. REVENUE DESIGN PARAMETERS. The Academy will strive for the following optimum characteristics
in its revenue system:
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FISCAL AND BUDGETARY POLICIES
1.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.
2.Certainty - A thorough knowledge and understanding of revenue sources increases the
reliability of the revenue system.
3.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.
4.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.
5.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
1.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.
2.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.)
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FISCAL AND BUDGETARY POLICIES
3. 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.).
4. 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.
5. 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.
6. 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.
7. Prompt Payment - All invoices will be paid within 30 days of receipt in accordance with the prompt
payment requirements of State law.
8. Salary - The Academy shall strive to maintain competitive salary levels for faculty and staff. A salary
survey will be conducted annually, sampling surrounding Independent School Districts and Charter
Schools, to create a comparison. The Academy will strive to maintain salary levels within three
percent (3%) of the median of surveyed schools.
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FISCAL AND BUDGETARY POLICIES
VI. FUND BALANCE
1. 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.
2. 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.
3. Use of Fund Balance - Fund Balance will be targeted to only be used with Board approval and can
be only be used for the following: emergencies, non-recurring expenditures, such as
technology/FF&E (furniture, fixtures and equipment), or major capital purchases that cannot be
accommodated through current year savings. Should such use reduce the balance below the
appropriate level set as the objective for that fund, recommendations will be made on how to
restore it.
4. 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.
5. The Board of Trustees will utilize funds in the following spending order: Restricted, Committed,
Assigned, and Unassigned.
VII. INTERGOVERNMENTAL RELATIONSHIPS
1. 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.
2. 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
1. 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
2.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.
3.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
1.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.
2.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
1.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.
2.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
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FISCAL AND BUDGETARY POLICIES
approval of expenditures and revenues. Documentation and coding of deposits are forwarded to
the Town’s Finance Department for review and preparation of deposit slips. Town’s Finance
Director and staff are responsible for review and transfer of invoices and other documentation to
the Service Center for processing as well as the physical deposit of funds. It is the responsibility
of the Superintendent or his designate and Academy staff to review the monthly reports for any
discrepancies and report to the Town’s Finance Director for analysis and re-class of questioned
bookings, if appropriate.
3.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.
4.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.
5.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
1.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.
2.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
1.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
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FISCAL AND BUDGETARY POLICIES
requirements of the Public Funds Investment Act (PFIA), Section 2256 of the Texas Local
Government Code. The Academy’s investment practices will be conducted in accordance with this
policy. The Finance Director will issue quarterly reports on investment activity to the Academy
Board of Trustees.
2. 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.
3. Capital Assets and Inventory - Such assets will be reasonably safeguarded, properly accounted for
and prudently insured. The capital assets inventory will be updated regularly.
4. 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.
5. 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.
6. 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 2018-2019
school year.
• Westlake Academy has a combined insurable property value of $47,191,000.
• This is a blanket policy, inclusive of contents and business income coverage.
• Three buses are insured on the automobile policy.
• Student data indicates 878 students are enrolled for the 2018-2019 school year, a
2.5% increase of 22 students from the prior year.
Insurance Coverage Summary (September 1, 2018 – August 31, 2019)
Insurance Type Provider Amount
Commercial Property Travelers $ 83,071
Workers Compensation Travelers 27,954
Crime Travelers 2,727
General Liability (Education Suite) Utica 14,147
Umbrella – Liability Utica 6,925
Business Auto Utica 3,966
Student Accident Allen J. Flood 5,596
Commercial Property Chubb 2,000
$ 146,386
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FUTURE POLICIES TO BE DISCUSSED & IMPLEMENTED
Westlake Academy has several relevant financial policies to preserve and enhance the fiscal health of the
Academy. We also identify acceptable and unacceptable courses of action, and provide a standard to
evaluate the school’s fiscal performance.
GFOA is recommending that all school districts include the following policies that guide the development of
their budget and that are central to a strategic long-term approach to financial management.
Westlake Academy is in the process of reviewing these policies.
1. Operating Budget Policy
This section of the Fiscal and Budgetary Policies should include the following policies that guide the
development of the budget and are central to a strategic approach to our financial management.
These components will need to be reviewed, updated if necessary, and/or added and approved by
the Board of Trustees in subsequent years.
1. Basis of Budgeting
2. Budget Adoption
3. Budget Classification and Format
4. Organization of the Budget
5. Budget Message Requirement
6. Funds Budgeted
7. Length of the Budget Year
8. Presentation of Proposed Budget
9. Revenue Forecasting Requirements
10. Expenditure Forecasting Requirements
11. Performance Measurements
12. Line-Item Transfer Authority
13. Retention of Budget Records
2. Budget Crisis Procedures
This policy is intended to provide Westlake Academy with options when responding to unexpected
fiscal issues that can and do arise. Should budget problems materialize, these procedures will
support comprehensive risk analysis and contingency plans.
3. Long Term Forecasting
The annual operating budget focuses on a single 12-month period. However, spending and revenue
decisions made today have effects that extend beyond a 12-month period. The purpose of this
policy is to
o Ensure on-going financial sustainability beyond a single fiscal year or budget cycle
o Achieve the Academy’s mission and vision
o Systematically link the annual budget to a multi-year master financial plan.
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FUTURE POLICIES TO BE DISCUSSED & IMPLEMENTED
4. Reserve Policy in Other Funds
While the General Fund Reserve is the most important for the Westlake Academy, reserves in other
funds are just as important. For that reason, the funds listed in this policy shall have reserves that
are restricted or committed for specific purposes.
5. General Fund Budget Reserves
The General Fund is the primary fund used by the Westlake Academy to account for revenues and
expenditures. Accordingly, the General Fund Reserve Policy is intended to provide the Academy
with options when responding to unexpected issues and to afford a buffer against shocks and other
forms of risk.
One of two things must happen in the future if we cannot spend equal to or less than the revenues
received:
(1) increase future revenues
(2) make future expenditure reductions.
6. Capital Asset Management (already incorporated into the Fiscal and Budgetary Policies)
Westlake Academy operates an extensive amount of buildings, equipment, furniture and vehicles.
The purpose of this policy is to:
o provide a management framework to ensure that all capital assets are repaired,
maintained and replaced and,
o identify the responsible parties who shall protect, oversee and report needed repairs.
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162
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
the Special Revenue Fund, Capital Project Fund
and Debt Service Funds.
163
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.
• 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.
164
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.
• Co-curricular Activities: Direct and personal
services for public school pupils such as
interscholastic athletics, entertainments,
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.)
165
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.
• Fiduciary Funds: Fiduciary Funds account for
assets held in a trustee or agent capacity for
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.
• 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.
166
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.
167
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.
• Primary Years Programme (PYP): A curriculum
framework for children aged 3-12 that prepared
students for the intellectual challenges of future
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.
• 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.
• 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.
• 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.
168
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.
• 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
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): This 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.
169
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
170
August 2018 1 September 2018 2 October 2018 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 6-7 New Teacher Orientation
1 2 3 4 1 1 2 3 4 5 6 8-14 All Teacher Orientation
5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 10 11 12 13 15: First Day of School
12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20
19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 Sept 3: Labor Day (No School)
26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31 4: Teacher Professional Day (No School)
30 26: All Day Parent/Teacher Conferences
Oct 8: Teacher Professional Day (No School)
9: Teacher Professional Day (No School)
12: Secondary End of 1st Quarter
November 2018 4 December 2018 5 January 2019 6 Nov 16: Early Release
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 19-23: Thanksgiving Break (19-20 Staff Flex Days)
1 2 3 1 1 2 3 4 5
4 5 6 7 8 9 10 2 3 4 5 6 7 8 6 7 8 9 10 11 12 Dec 17-20: All-School Assessments (Half Days)
11 12 13 14 15 16 17 9 10 11 12 13 14 15 13 14 15 16 17 18 19 21-31: Winter Break
18 19 20 21 22 23 24 16 17 18 19 20 21 22 20 21 22 23 24 25 26
25 26 27 28 29 30 23 24 25 26 27 28 29 27 28 29 30 31 Jan 1-4: Winter Break
30 31 7: Teacher Professional Day (No School)
8: Start of Second Semester
21: Martin Luther King, Jr Day (No School)
February 2019 7 March 2019 8 April 2019 9 Feb 15: Teacher Professional Day (No School)
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 18: President's Day (No School)
1 2 1 2 1 2 3 4 5 6
3 4 5 6 7 8 9 3 4 5 6 7 8 9 7 8 9 10 11 12 13 Mar 8: Secondary End of 3rd Quarter
10 11 12 13 14 15 16 10 11 12 13 14 15 16 14 15 16 17 18 19 20 11-15 Spring Break
17 18 19 20 21 22 23 17 18 19 20 21 22 23 21 22 23 24 25 26 27 27: All Day Conferences
24 25 26 27 28 24 25 26 27 28 29 30 28 29 30
31 Apr 19: Bad Weather Make-Up Day
22: Bad Weather Make-Up Day
May 2019 10 June 2019 11 July 2019 12 May 24: All-School Assessments (Half Day)
S M T W Th F Sa S M T W Th F Sa S M T W Th F Sa 27: Memorial Day (No School)
1 2 3 4 1 1 2 3 4 5 6 28-30: All-School Assessments (Half Days)
5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 10 11 12 13 30: Last Day of School
12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20
19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 June 1: GRADUATION (Hurst Conference Center)
26 27 28 29 30 31 23 24 25 26 27 28 29 28 29 30 31
30
First & Last Day of School
Early Release Days Parent/Student Conferences (All Day)
No School All-School Assessments (Early Release)
Professional Day (Student Holiday)GRADUATION
Bad Weather Make-Up Day
WESTLAKE ACADEMY
Academic Calendar
School Year 2018 - 2019
Semester 1 = 77.5 days
Semester 2 = 87.0 days
Total Days = 164.50
171
RESOLUTION OF THE BOARD OF TRUSTEES
172
RESOLUTION OF THE BOARD OF TRUSTEES
173