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WA Budget Presentation 08-07-17Westlake Academy * 2600 Ottinger Road * Westlake, Texas 76262 www.westlakeacademy.org ENGAGE ...EXPLORE...EMPOWER! is the MATHEMATICS TECHNOLOGY SPANISH BIOLOGYENGLISHCHEMISTRYPHYSICSHUMANITIESMUSIC AND THE ARTS Increased student achievement Purchased new computers for teachers and repurposed current teacher laptops for student use Leased new iPads for students (continuation of 1-to-1 device initiative) Transformed a portable classroom into a life skills classroom Increased costs related to legal fees, student counseling services and student transportation 08/07/2017 Proposed Budget FY17/18 2 Decreased FTEs (from 95.31 to 95.05) Prepared budget document according to BOT policies Maintained consistent funding through WAF The amended budget projects fund balance to be 41 operating days 08/07/2017 Proposed Budget FY17/18 3 Increase student achievement Increase 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 Town and WAF contributions 08/07/2017 Proposed Budget FY17/18 4 508/07/2017 VARIANCES FROM COUNCIL RETREAT FOR FY 16-17 AMENDED EXPENDITURES $ 21K Contracted Services (Increase for student counseling services and legal fees) $ 24K Other Operating Costs (increase in bus rentals for student transportation) $ (50)K All Expenditure Categories (decreased to offset the reduction of state funding due to change in student count from 866 to 830) $ (5)K TOTAL CHANGES TO AMENDED FY16/17 EXPENDITURES Proposed Budget FY17/18 608/07/2017 VARIANCES FROM COUNCIL RETREAT FOR FY 17-18 PROPOSED EXPENDITURES $ 56K Payroll & Related (2% salary increase after Retreat; total overall payroll will decrease by .17% ) $ (2)K Contracted Services (contracted services vs Strings Program) $ 21K General Supplies (increase cost for printing and Maintenance & Operation supplies) $ (33)K Other Operating Costs (position changes in Administration decreased travel budgets) $ 42K TOTAL CHANGES TO PROPOSED FY17/18 EXPENDITURES Proposed Budget FY17/18 08/07/2017 Proposed Budget FY17/18 7 Amended Proposed $ Increase % Increase FY 2016/17 FY 2017/18 (Decrease)(Decrease) Total Revenues 8,227,963$ 8,584,100$ 356,137$ 4% Total Expenditures 8,360,471 8,322,199 (38,272) -0.458% Other Resources 117,090 60,000 (57,090) -49% Other Uses (60,000) (60,000) - 0% Excess Revenues Over(Under) Expenditures (75,418) 261,901 337,319 -447% FUND BALANCE BEGINNING 1,072,464 997,046 (75,418) -7% FUND BALANCE ENDING 997,046 1,258,947 261,901 26% Assigned 48,090 39,090 (9,000) -19% FUND BALANCE ENDING (Unassigned)948,956$ 1,219,857$ 270,901$ 29% # Days Operating (Based on 365)41 54 12 29% Daily Operating Expenditure 22,905 22,801 (105) 0% Students Enrolled 830 856 26 3% TEA Funding per Student 7,382$ 7,646$ 264$ 4% Operating Cost per Student 10,073$ 9,722$ (351)$ -3% Teachers 65.55 65.59 0.04 0% Student/Teacher Ratio 12.66 13.05 0.39 3% Budget Book: page 11 For FY 17/18, State funding will make up 76% of all General Fund Revenues. 08/07/2017 Proposed Budget FY17/18 8 Budget Book: page 52, 58-60 State Revenue WAF Blacksmith Athletic Activities Transportation/Parking WAF Salary Reimbursement WAF Fund-an-Item Other Local Revenue Food Services Interest Earned TOW Facility Contribution TOW Operating Contribution State Revenue 76% TOW Contribution 4% 08/07/2017 Proposed Budget FY17/18 9 Budget Book: page 52 (state funding), page 59 Foundation Sch Funds 88% Available Sch Funds 3% Career & Tech 9% State Revenue Sources FY 12/13 Actual FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY16/17 Adopted FY16/17 Amended FY 17/18 Proposed $6,713 $6,980 $7,157 $7,285 $5,544 $5,955 $5,852 $1,698 $1,427 $1,794 FSP/CTE Funding per Student CTE FSP Total FSP $7,646 Blacksmith revenues represent approximately 12% of the Academy’s total revenue. These dollars are used to bridge the funding gap between State Funding for charter schools in comparison to local ISDs. 08/07/2017 Proposed Budget FY17/18 10 $822 $899 $1,046 $933 $1,000 $1,025 $1,000 FY 12/13 Actual FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY16/17 Adopted FY16/17 Amended FY 17/18 Proposed Budget Book: page 50, 53 Operating Revenues $ 8,584,100 4% increase of $356,137 from FY16/17 Amended from a combination of higher enrollment and CTE funding. Operating Expenditures $ 8,322,199 0.458% decrease of $38,272 from FY16/17 Amended Excess Revenues over/(under) Expenditures $ 261,901 08/07/2017 Proposed Budget FY17/18 11 Budget Book: page 58 FY16/17 Amended $ 997,046 Ending Fund Balance (unassigned) FY17/18 Proposed $ 1,219,857 Ending Fund Balance (unassigned) Fund Balance Increased $ 270,901 From 41 to 54 Operating Days 08/07/2017 Proposed Budget FY17/18 12 Budget Book: page 48, 58 The shared services model that the Municipal and Academic teams utilize provides for our administrative services. 08/07/2017 Proposed Budget FY17/18 13 Budget Book: page 15 Amended Proposed $ Increase % Increase FY 2016/17 FY 2017/18 (Decrease)(Decrease) Operating Expenditures 8,045,471$ 8,007,199$ (38,272)$ -0.48% Municipal-Transfer to WA Operating Budget 315,000$ 315,000$ -$ 0.00% Total Academic Costs 8,360,471 8,322,199 (38,272) -0.46% Annual Debt Service (Municipal budget)1,874,385 1,869,870 (4,515) -0.24% Major Maintenance and Replacement 279,565 200,000 (79,565) -28.46% In-direct Operating Costs 674,130 727,659 53,529 7.94% Total Municipal Costs 2,828,080$ 2,797,529$ (30,551)$ -1.08% TOTAL EXPENDITURE COSTS 11,188,551$ 11,119,728$ (68,823)$ -0.62% Number of Students 830 856 26 3.13% Total Expenditure Cost per Student 13,480$ 12,990$ (490)$ -3.63% 08/10/2016 Proposed Budget FY16/17 14 Amount Percentage Per Student Total Percentage Academy Blacksmith 1,000,000$ 9%1,168$ FSP 6,544,700 59%7,646 Local 462,499 4%540 71% Municipal Operating Transfer 315,000 3%368 Debt Service 1,869,870 17%2,184 MM & R 200,000 2%234 Indirect 727,659 7%850 29% 11,119,728$ 100%12,990$ 100% Revenue Sources 08/07/2017 Proposed Budget FY17/18 15 70.57 74.68 90.21 95.31 95.05 93.09 FY 12/13 Actual FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY16/17 Estimated FY 17/18 Proposed Staff recommends a 2.0% increase for faculty and staff. Due to changes in administration and the realignment of faculty positions, there is an overall decrease in salaries, reducing FY 2017/18 FTEs by 1.96 Budget Book: page 16 08/10/2016 Proposed Budget FY16/17 16 SALARY AND RELATED EXPENDITURES $ (10,850) Balanced Scorecard Perspective: People, Facilities, & Technology Outcome Objective: Attract, Recruit, Retain, & Develop the Highest Quality Workforce PROFESSIONAL AND CONTRACTED SERVICES $ 18,609 Balanced Scorecard Perspective: Academic Operations Outcome Objective: Improve the Efficiencies of Operational Systems SUPPLIES AND MATERIALS $ 4,631 Balanced Scorecard Perspective: Academic Operations Outcome Objective: Optimize Student Potential OTHER OPERATING COSTS $ (15,289) Balanced Scorecard Perspective: People, Facilities, & Technology Outcome Objective: Increase the Capacity of Teachers & Staff DEBT SERVICE COSTS $ (91,070) Balanced Scorecard Perspective: People, Facilities & Technology Outcome Objective: Improve Technology, Facilities % Equipment Budget Book: page 16 Decrease 0.17% Increase 2.0% Increase 2.0% Increase 3.0% Decrease 35.0% 08/07/2017 Proposed Budget FY17/18 17 08/07/2016 Proposed Budget FY17/18 18 Enrollment is anticipated to increase 26 students in 17/18. The increase is due to the Town’s residential growth and students of new employees. 812 825 866 830 856 FY 14/15 Actual FY 15/16 Actual FY16/17 Adopted FY16/17 Amended FY 17/18 Proposed Enrollment History Future enrollment is projected to increase by 10 students per year. Available lottery spaces will decrease as residential growth increases.Budget Book: page 95 Basic Assumptions: o 17-20 students per class in Kindergarten through G5 o 23-25 students per section in G6-G12 08/07/2017 Proposed Budget FY17/18 19 o 26 student increase in FY 17-18 and 10 additional students in subsequent years o Average Daily Attendance rate of 97% Revenues: o 100% use of WAF Annual Program revenues -$1M o Career and Technical (CTE) funding •Implemented with 210 students in FY 2016/17 •Continue with 319 students in FY 2017/18 o Foundation School Program Funding remains flat 08/07/2017 Proposed Budget FY17/18 20 Payroll & Related Expenditures: Personnel costs estimated to increase 1.5% for subsequent years 08/07/2017 Proposed Budget FY17/18 21 Operating Expenditures: (currently estimated at 1.0% increase in future years) Per BOT Policy, expenditures will only increase if revenues increase Professional Services Supplies & Materials Other Operating Costs 08/07/2017 Proposed Budget FY17/18 22 FY 16/17 FY 16/17 FY 17/18 FY 18/19 FY 19/20 FY 20/21 Total Revenues 8,399,173$ 8,227,963$ 8,584,100$ 8,540,178$ 8,549,372$ 8,558,750$ Total Expenditures 8,397,745 8,360,471 8,322,199 8,435,155 8,549,551 8,499,693 Net Other Sources/Uses - 57,090 - - - - Excess Revenues Over(under) Expenditur 1,428 (75,418) 261,901 105,022 (180) 59,057 FUND BALANCE BEGINNING 1,071,036 1,072,464 997,046 1,258,947 1,363,969 1,363,789 FUND BALANCE ENDING 1,072,464 997,046 1,258,947 1,363,969 1,363,789 1,422,846 Assigned 11,000 48,090 39,090 27,090 15,000 15,000 FUND BALANCE ENDING (Unassigned)1,061,464$ 948,956$ 1,219,857$ 1,336,879$ 1,348,789$ 1,407,846$ Number of Operating Days (365)46 41 54 58 58 60 Dollars per Operating Day 23,008$ 22,905$ 22,801$ 23,110$ 23,423$ 23,287$ Total Students Enrolled 866 830 856 866 876 886 TEA Funding per Student (incl CTE/SPED)7,241$ 7,382$ 7,646$ 7,557$ 7,471$ 7,387$ Operating Cost per Student 9,697$ 10,073$ 9,722$ 9,740$ 9,760$ 9,593$ Teachers 65.55 65.55 65.59 65.59 65.59 65.59 Student/Teacher Ratio 13 13 13 13 13 14 GENERAL FUND FIVE YEAR FORECAST Adopted Amended Proposed Projected Projected Projected Budget Book: page 48 Enrollment Constraints o Current facility size o Charter o BOT previous direction o All equals slow revenue growth 08/07/2017 Proposed Budget FY17/18 23 $4,417 $4,865 $5,812 $6,010 $6,271 $6,127 $6,545 FY 12/13 Actual FY 13/14 Actual FY 14/15 Actual FY 15/16 Actual FY16/17 Adopted FY16/17 Amended FY 17/18 Proposed Foundation State Program Revenues (in millions) Slow Growth in Revenues o State FSP will not increase for FY 2017/18 or FY 2018/19 o Blacksmith donations projected as static 08/07/2017 Proposed Budget FY17/18 24 Future Bond Issuance = Ad Valorem tax increase for facilities Static or slow growth revenues can impact adding new academic service levels Local funding under pressure o More about that on Wednesday, August 9th Picture by Jaymi Ford  08/07/2017 Proposed Budget FY17/18