HomeMy WebLinkAboutWA Res 24-01 Adopting Year End Operating Budget Amendment FY 23WA Resolution 24-013
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WESTLAKE ACADEMY
RESOLUTION NO. 24-01
A RESOLUTION OF THE BOARD OF TRUSTEES OF WESTLAKE ACADEMY
ADOPTING THE YEAR-END OPERATING BUDGET AMENDMENT FOR FISCAL
YEAR ENDING AUGUST 31, 2023, INCLUDING ASSIGNED FUND BALANCES;
PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING FOR AN
EFFECTIVE DATE.
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 was approved by the Board of Trustees on August 8, 2022,
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 8, 2022, as
advertised; and
WHEREAS, it is desired to amend the Westlake Academy operating budget for fiscal
year ending August 31, 2023, 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 and
staff of Westlake Academy.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
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 of Westlake Academy hereby approves the
Amended Westlake Academy Operating Budget for the fiscal year ending August 31, 2023, and
appropriates the funds contained therein attached to this resolution as Exhibit “A”.
SECTION 3: That a copy of the official Amended Fiscal Year 2022-2023 Budget shall
be kept on file in the office of the Town Secretary.
SECTION 4: 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 Board hereby determines that it would have adopted this Resolution without the
invalid provision.
SECTION 5: This Resolution shall take effect immediately from and after its passage as
the law in such case provides.
WA Resolution 24-013
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PASSED AND APPROVED ON THIS 5TH DAY OF FEBRUARY 2024.
___________________________________
Sean Kilbride, President
ATTEST:
________________________________
Amy Piukana, Board Secretary
APPROVED AS TO FORM:
________________________________
Stan Lowry, Town Attorney
FY 2022‐2023 General Fund Budget‐to‐Actuals
for period ending August 31, 2023
Revenue Recap ‐ Budget to Actuals
Original
Budget
Proposed
Amended
Budget
YTD Actuals
(Ascender)
YTD Actuals
(eFP)
YTD Actuals
TOTAL
Balance
(over)/under % Received
Blacksmith 1,100,000 1,198,915 (1,193,104) (5,812) (1,198,916) (1) 100%
Transportation 10,500 14,645 (13,460) (1,189) (14,649) (4) 100%
Parking 15,000 23,045 (12,891) (10,155) (23,046) (1) 100%
Athletics 100,850 157,700 (128,401) (29,307) (157,708) (8) 100%
Interest 5,000 34,500 (30,815) (3,691) (34,506) (6) 100%
Salary Reimb 145,978 145,978 ‐ (145,978) (145,978) ‐ 100%
TOW Operating Contribution 405,234 405,234 (337,695) (67,539) (405,234) ‐ 100%
Misc Revenue 36,100 58,110 (47,488) (10,625) (58,113) (3) 100%
Food Services 7,931 7,931 (7,931) ‐ (7,931) ‐ 100%
Local Revenue 1,826,593 2,046,058 (1,771,784) (274,296) (2,046,080) (22) 100%
Available School Fund 529,927 533,120 (488,771) (44,352) (533,123) (3) 100%
Foundation School Fund 6,397,807 6,405,740 (5,354,254) (1,051,487) (6,405,741) (1) 100%
CTE Funding 456,511 456,515 (380,430) (76,086) (456,516) (1) 100%
Facilities Allotment 148,624 148,620 (123,850) (24,770) (148,620) ‐ 100%
Advanced Placement Training 6,750 ‐ ‐ ‐ ‐ ‐ 0%
TRS On‐Behalf 487,924 352,714 (352,714) ‐ (352,714) (0) 100%
Medicare Pt D On‐Behalf (EOY) 34,600 33,940 ‐ (33,941) (33,941) (1) 100%
State Revenue 8,062,143 7,930,649 (6,700,019) (1,230,636) (7,930,655) (6) 100%
Total Revenue 9,888,736 9,976,707 (8,471,803) (1,504,932) (9,976,735) (28) 100%
Function Recap ‐ Budget to Actuals
Original
Budget
Proposed
Amended
Budget
YTD Actuals
(Ascender)
YTD Actuals
(eFP)
YTD Actuals
TOTAL
Balance
Over/(under)
% Expended
of Amended
11 (5,231,405) (5,090,735) 4,402,636 688,097 5,090,733 (2) 100%
12 (175,488) (158,245) 143,726 14,517 158,243 (2) 100%
13 (81,200) (76,650) 67,064 9,584 76,648 (2) 100%
21 (235,897) (250,160) 217,613 32,546 250,159 (1) 100%
23 (1,349,981) (1,236,005) 1,079,876 156,125 1,236,001 (4) 100%
31 (551,771) (578,940) 505,624 73,314 578,938 (2) 100%
33 (77,038) (58,095) 47,975 10,118 58,093 (2) 100%
36 (341,047) (373,475) 330,212 43,261 373,473 (2) 100%
41 (193,950) (710,625) 666,942 43,681 710,623 (2) 100%
51 (967,327) (1,214,256) 964,597 249,658 1,214,255 (1) 100%
52 Security & Monitoring (28,500) (48,010) 44,866 3,142 48,008 (2) 100%
53 (283,666) (376,550) 307,206 69,340 376,545 (5) 100%
61 (145,978) (162,955) 141,674 21,277 162,951 (4) 100%
71 (225,488) (208,355) 190,992 17,363 208,355 (0) 100%
Total Expenditures (9,888,736) (10,543,056) 9,111,003 1,432,024 10,543,027 (29) 100%
Estimated Fund Balance Calculation
Original
Budget
Proposed
Amended
Budget
Total YTD
Actuals Variance
Local/State Revenue 9,888,736 9,976,707 9,976,735 28
Less: Expenditures 9,888,736 10,543,056 10,543,027 (29)
Net Revenues Over/(Under) Exp ‐ (566,349) (566,292) 57
Beginning Balance (from FY22 audit) 1,718,580 1,718,580 1,718,580 ‐
Ending Fund Balance 1,718,580 1,152,231 1,152,288 57
Less: Unassigned Fund Balance 106,943 106,943 106,943 ‐
Fund Balance (unassigned)1,611,637 1,045,288 1,045,345 57
Daily Operating Cost (exp budget/365) 27,092 28,885 28,885 ‐
Operating Days (unassgn FB/daily op cost) 59 36 36 1
WA FB policy: will strive for 45 days
TEA FIRST Rating: 40 days
Community Services
Debt Service
Guidance/Counseling
Health Services
Extra‐/Co‐Curricular
Administration
Maintenance & Operations
Data Processing
Sch Leadership
Instruction
Media Resources
Curr/Staff Development
Instr Leadership
Fund 199 Consolidated General Fund
2020-2021
Audited
Actuals
2021-2022
Audited
Actuals
2022-2023
Adopted
Budget
2022-2023
Amended
Budget
Variance
Incr/(Decr)
Revenues:
197-5700 Local Sources (Transportation) 24,600$ 23,580$ 25,500$ 37,690$ 12,190$
198-5700 Local Sources (Athletics) 87,319 128,217 100,850 157,700 56,850
199-5700 Local Sources (General Fund) 150,107 126,912 600,243 651,753 51,510
199-5700 Local Sources (WA Foundation) 989,392 1,159,868 1,100,000 1,198,915 98,915
5800 State Foundation School Programs 8,402,685 8,125,843 8,062,143 7,930,649 (131,494)
Total Revenues 9,654,103$ 9,564,419$ 9,888,736$ 9,976,707$ 87,971$
Expenditures (by function)
11 Instructional 5,058,617 5,602,228 5,231,405 5,090,735 (140,670)
12 Resources & Media 65,974 150,924 175,488 158,245 (17,243)
13 Staff Development 30,932 83,414 81,200 76,650 (4,550)
21 Instructional Leadership 177,682 243,020 235,897 250,160 14,263
23 School Leadership 1,132,111 1,377,222 1,349,981 1,236,005 (113,976)
31 Guidance & Counseling 604,122 555,561 551,771 578,940 27,169
33 Health Services 91,520 73,468 77,038 58,095 (18,943)
36 Co-curricular & Extracurricular Activities 253,837 248,241 341,047 373,475 32,428
41 Administrative 260,237 270,313 193,950 710,625 516,675
51 Maintenance & Operations 1,066,798 1,110,044 967,327 1,214,256 246,929
52 Security & Monitoring 15,542 5,793 28,500 48,010 19,510
53 Data Processing 223,856 320,052 283,666 376,550 92,884
61 Community Services 137,299 151,461 145,978 162,955 16,977
71 Debt Service 207,922 314,647 225,488 208,355 (17,133)
Total Expenditures 9,326,447 10,506,388 9,888,736 10,543,056 654,320
Excess (Deficiency) of Revenues
Over (Under) Expenditures 327,656 (941,969) - (566,349) (566,349)
Lease Proceeds - 581,716 - - -
FUND BALANCE, BEGINNING 1,751,177$ 2,078,833$ 1,718,580$ 1,718,580$ -
Net Change in Fund Balances 327,656 (360,253) - (566,349) (566,349)
FUND BALANCE, ENDING 2,078,833 1,718,580 1,718,580 1,152,231 (566,349)
Assigned - Bus Maintenance (17,000) (16,150) (16,150) (16,150) -
Assigned - Tech/FF&E Replacement (79,782) (75,793) (75,793) (75,793) -
Assigned - Uniforms/Equip Rep (15,000) (15,000) (15,000) (15,000) -
FUND BALANCE, UNASSIGNED 1,967,051$ 1,611,637$ 1,611,637$ 1,045,288$ (566,349)$
Daily Operating Cost 25,552 28,785 27,092 28,885
Operating Days 77 56 59 36
WESTLAKE ACADEMY
2022- 2023 Amended Budget
for Period Ending August 31, 2023