The URL can be used to link to this page

Home My WebLink AboutAcademy Budget Presentation 08-15-18A NNIVERSARY50TH INTERNATIONALBACCALAUREATE A NNIVERSARY 15TH W ESTLAKEACADEMY •Increased student enrollment based on residential growth •Increased Career & Technology (CTE) funding due to additional course offerings •Addition of a facilities allotment passed by the 84th Texas Legislative Session (HB21) for open-enrollment charter schools •Maintain consistent funding through the Westlake Academy Foundation 08/15/2018 Proposed Budget FY18/19 2 •The amended budget projects fund balance to be 45 operating days •Decreased FTEs (from 93.76 to 93.58) •Addition of a 3% average increase in faculty/staff salaries, moving the salary scale within 0.5% of the median of surrounding districts •Prepared budget document according to BOT policies •Increase student achievement •Enhance teacher instructional pedagogical skills •Continue to build a highly effective leadership team with strong instructional leadership expertise •Increase open, multi-directional communication •Continue the efficient use of municipal and WAF contributions 08/15/2018 Proposed Budget FY18/19 3 08/15/2018 Proposed Budget FY18/19 VARIANCES TO FY 17/18 AMENDED EXPENDITURES AFTER MAY 31ST COUNCIL RETREAT $ 29K Personnel & Staffing Salaries•Salaries increased with end-of-year accruals and the additional state mandated TRS-Care on-behalf (offset by revenue) $ (6)K Contracted Services•Funds were moved from contracted services to general maintenance supplies due to an increased need for paper/cleaning products in the classrooms $ (3)K General Supplies•Efforts were made to reduce spending in general office supplies $ 3K Other Operating Costs•Graduation expenses increased while reduced spending occurred in other operating expenses $ 23K TOTAL CHANGES TO AMENDED FY18/19 EXPENDITURES 4 08/15/2018 Proposed Budget FY18/19 $ 34K Payroll & Related•Faculty/staff salaries increase an average of 3%, in addition to expected increases in health benefits $ 58K Contracted Services•Addition of audiology services for PYP/MYP, and increase in janitorial services (new provider), and enhanced security systems $ (5)K General Supplies•Efforts are continuously being made to monitor and reduce spending in general supplies $ (3)K Other Operating Costs•With WA’s combined programmes, IBO fees were discounted $ 84K TOTAL CHANGES TO PROPOSED FY18/19 EXPENDITURES 5 VARIANCES TO FY 18/19 PROPOSED EXPENDITURES AFTER MAY 31ST COUNCIL RETREAT 08/15/2018 Proposed Budget FY18/19 6 Budget Book: pages 18, 54, 62 08/15/2018 Proposed Budget FY18/19 •Operating Revenues $ 8,847,829 represent a 4.37% increase of $370,184 with the combination of higher enrollment and CTE/Facilities Allotment funding •Operating Expenditures $ 8,710,132 represent a 3.02% increase of $255,060 from a 3% average increase in salaries and enhanced Facilities and Technology services. Budget Book: pages 18, 54-55, 62 7 •FY17/18 Amended Ending Fund Balance (unassigned) $ 922,754 •FY18/19 Proposed Ending Fund Balance $ 1,065,541 •Proposed Fund Balance Increase $ 142,787 Change in Fund Balance represents an increase from 40 operating days to 45 08/15/2018 Proposed Budget FY18/19 8 For FY 2018/19, State funding will make up 82% of all General Fund Revenues. Budget Book: pages 54, 62-63 State Revenue 82% WAF Blacksmith 11% Athletic Activities 1% TOW Operating Contribution 4% State Revenue WAF Blacksmith Athletic Activities Transportation/Parking WAF Salary Reimbursement Other Local Revenue Food Services Interest Earned TOW Facility Contribution TOW Operating Contribution FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY 16/17 Actual FY17/18 Adopted FY17/18 Amended FY 18/19 Adopted 6,734 7,157 7,099 6,739 6,754 6,909 6,565 247 -186 366 223 195 417 361 668 496 580 200 Facilities Allotment Career & Technology Education Available School Funds Foundation School Funds 08/15/2018 Proposed Budget FY18/19 9 Total per student funding: $7,762 Budget Book: page 45 (state funding), pages 54, 62-63 Foundation School Funds 84% Available School Funds 5% Career & Technology 8% Facilities Allotment 3% 08/15/2018 Proposed Budget FY18/19 10 •Blacksmith revenues represent approximately 11% of the Academy’s total General Fund revenue. •These dollars, represented in thousands, are used to bridge the funding gap between state funding for charter schools in comparison to local ISDs. Budget Book: pages 45, 54, 56 $899 $1,046 $933 $1,053 $1,000 $1,000 $1,000 FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY16/17 Actual FY 17/18 Adopted FY 17/18 Amended FY 18/19 Proposed 08/15/2018 Proposed Budget FY18/19 11 The shared services model utilized by Municipal and Academic teams provide the Academy with administrative services. Budget Book: page 21 Amended Proposed $ Increase % Increase FY 2017/18 FY 2018/19 (Decrease)(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 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% 08/15/2018 Proposed Budget FY18/19 12 Academic Blacksmith Campaign 1,000,000$ 9%1,142$ State Funding 6,799,412 60%7,762 Local Funding 252,834 2%289 71% Total Academic Revenue 8,052,246 71%9,192 Municipal Operating Transfer 315,000 3%360 Debt Service 1,828,791 16%2,088 Maintenance & Replacement Costs 355,595 3%406 Indirect Costs 854,511 7%975 29% Total Municipal Support 3,353,897 29%3,829 11,406,143$ 100%13,021$ 100% 08/15/2018 Proposed Budget FY18/19 13 SALARY AND RELATED EXPENDITURES $ 236,056 Balanced Scorecard Perspective: People, Facilities, & Technology Outcome Objective: Attract, Recruit, Retain, & Develop the Highest Quality Workforce PROFESSIONAL AND CONTRACTED SERVICES $ 9,723 Balanced Scorecard Perspective: Academic Operations Outcome Objective: Improve the Efficiencies of Operational Systems SUPPLIES AND MATERIALS $ 94,206 Balanced Scorecard Perspective: Academic Operations Outcome Objective: Optimize Student Potential OTHER OPERATING COSTS $ (6,219) Balanced Scorecard Perspective: People, Facilities, & Technology Outcome Objective: Increase the Capacity of Teachers & Staff DEBT SERVICE COSTS $ (0) Balanced Scorecard Perspective: People, Facilities & Technology Outcome Objective: Improve Technology, Facilities % Equipment Budget Book: page 23 Increase 3.7% Increase 0.9% Increase 29.0% Decrease 1.20% 08/15/2018 Proposed Budget FY18/19 14 Budget Book: pages 33-37 08/15/2018 Proposed Budget FY18/19 15 •Enrollment is anticipated to increase by 20 students in FY 2018/19 •The increase is due to the Town’s residential growth and students of new employees •Future enrollment is projected to increase by 10 students per year •Available lottery spaces will decrease as residential primary boundary demands increase Budget Book: page 97 812 825 830 856 876 FY 14/15 Actual FY 15/16 Actual FY16/17 Actual FY 17/18 Amended FY 18/19 Proposed Enrollment History Revenue Assumptions: •Foundation School Program funding is based on current funding per student for future years•Career & Technology funding may increase with student participation and course offerings•Facilities Allotment is based on $200 per student•WAF annual program revenues expended at 100% 08/15/2018 Proposed Budget FY18/19 16 Basic Assumptions:•Increase of 20 students for FY18/19 with 10 additional students in subsequent years•Classroom Sizes17-20 students per class Kindergarten through G320-21 students per class in G4 and G522-25 students per section in G6-G12 •Average Daily Attendance rate of 97% Operating Expenditure Assumptions:•Estimated to increase 1.0% in subsequent years•Expenditures will only increase if revenues increase, per BOT policy 08/15/2018 Proposed Budget FY18/19 17Budget Book: page 54 FY 17/18 FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22 Total Revenues 8,584,100$ 8,477,645$ 8,847,829$ 8,938,979$ 9,028,498$ 9,118,277$ Total Expenditures 8,322,199 8,455,072 8,710,132 8,861,416 8,948,359 9,039,104 Net Other Sources/Uses - - - - - - Excess Revenues Over(under) Expenditures 261,901 22,573 137,697 77,563 80,139 79,173 FUND BALANCE BEGINNING 939,271 939,271 961,844 1,099,541 1,177,104 1,257,243 Assigned 39,090 39,090 34,000 27,090 15,000 15,000 FUND BALANCE ENDING (Unassigned)1,162,082$ 922,754$ 1,065,541$ 1,150,014$ 1,242,243$ 1,321,415$ Number of Operating Days (365)51 40 45 47 51 53 Dollars per Operating Day 22,801$ 23,165$ 23,863$ 24,278$ 24,516$ 24,765$ Total Students Enrolled 856 856 876 886 896 906 TEA Funding per Student (incl CTE/SPED)7,646$ 7,600$ 7,762$ 7,762$ 7,762$ 7,762$ Operating Cost per Student 9,722$ 9,877$ 9,943$ 10,002$ 9,987$ 9,977$ Teachers 66.26 66.26 66.08 66.08 66.08 66.08 Student/Teacher Ratio 12.92 12.92 13.26 13.41 13.56 13.71 Adopted Amended Proposed Projected Projected Projected 08/15/2018 Proposed Budget FY18/19 18 •Slow Growth in Revenues •State FSP will not increase for FY 18/19 or FY 19/20•Blacksmith donations projected as static •Enrollment Constraints •Current facility size•Charter•Previous BOT direction Budget Book: pages 45, 54, 57 08/15/2018 Proposed Budget FY18/19 19