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Academy Budget Presentation 08-05-1908/05/2019 Proposed Budget FY19/20 1 Fiscal Year 2019-2020 ~ EXCELLENCE ~ 08/05/2019 Proposed Budget FY19/20 2 •Increased student enrollment based on residential growth •Increased Career & Technology (CTE) funding due to additional course offerings •Increased funding from the Westlake Academy Foundation by $30,000 •Seek additional opportunities for funding and provide resources to new long-term programs •The proposed budget projects fund balance for 52 operating days •Increased FTEs by 6.25 (from 94.75 to 101) •Addition of a 3% average increase in faculty/staff salaries, moving the salary scale within 0.5% of the median of surrounding districts 08/05/2019 Proposed Budget FY19/20 3 •Manage enrollment via primary boundary admissions •Continue to build a highly effective leadership team and an inclusive culture •Increase open, multi-directional communication •Continue to work with Stantec on the Facilities Master Plan House Bill 3 Highlights •Increased minimum salary schedule and teacher incentive funding •Establishes a Teacher Mentor Program Allotment •Expands bilingual education allotment •Added funding for Dyslexia programs •Inclusion of Statutory Minimum payments for charter schools* 08/05/2019 Proposed Budget FY19/20 4 $ 73 K Local Sources•Changes in local contribution and interest income $ (67) K State Sources•Decrease in state funding $ 6 K TOTAL CHANGES TO PROPOSED FY19/20 REVENUES 08/05/2019 Proposed Budget FY19/20 5 $ 242 K Payroll & Related•Faculty/staff salaries increase an average of 3%, in addition to expected increases in health benefits•Inclusion of Statutory Minimum payment to TRS (HB3 retirement) $ (11)K Contracted Services•Janitorial and speech pathologist contractors moved in-house, decrease to legal services and contract repair and maintenance $ (152) K General Supplies•Elimination of IB registration fees, decreases in general supplies and furniture, reallocate facility allotment to offset Town contribution $ 9 K Other Operating Costs•Increases in graduation costs and commercial insurance premiums $ 88 K TOTAL CHANGES TO PROPOSED FY19/20 EXPENDITURES 08/05/2019 Proposed Budget FY19/20 6 Amended Proposed $ Increase % Increase FY 2018/19 FY 2019/20 (Decrease)(Decrease) Revenues 8,923,313$ 9,717,933$ 794,620$ 8.90% Expenditures 8,775,132 9,572,502 797,370 9.09% Other Resources 76,000 90,000 14,000 18.42% Other Uses (76,000) (90,000) (14,000) 0.00% Excess Revenues Over(Under) Expenditures 148,181 145,430 11,250 7.59% FUND BALANCE BEGINNING 1,105,605 1,253,786 148,181 13.40% FUND BALANCE ENDING 1,253,786 1,399,217 145,431 11.60% Assigned 90,450 34,000 (56,450) -62.41% FUND BALANCE ENDING (Unassigned)1,163,336$ 1,365,217$ 201,881$ 17.35% # Days Operating (Based on 365)48 52 4 7.58% Daily Operating Expenditure 24,041$ 26,226$ 2,185$ 9.09% Students Enrolled 869 910 41 4.72% TEA Funding per Student 7,762$ 8,399$ 637$ 8.21% Operating Cost per Student 9,943 10,519 576 5.79% Teachers 66.17 70.30 4.13 6.24% Student/Teacher Ratio 13.13 12.94 (0.19) -1.43% Total Faculty & Staff 94.67 101.13 6.46 6.82% GENERAL FUND Academic Only 08/05/2019 Proposed Budget FY19/20 7 •Operating Revenues: $9,717,933 represent a 8.9% increase of $794,620 with the combination of higher enrollment and implementation to House Bill 3 requirements •Operating Expenditures: $9,572,502 represent a 9.09% increase of $797,370, which includes an average of 3% faculty/staff salary increases, 6.25 faculty/staff positions, the inclusion of the TRS statutory minimum, and year 1 of a new lease for the 1-to-1 iPad initiative. •FY18/19 Amended Ending Fund Balance (unassigned) $ 1,163,336 •FY19/20 Proposed Ending Fund Balance (unassigned)$ 1,365,217 •Proposed Fund Balance Increase $ 201,881 Change in Fund Balance represents an increase from 48 operating days to 52 08/05/2019 Proposed Budget FY19/20 8 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 Adopted FY 18/19 Amended FY 19/20 Proposed -190 366 218 417 461 233 7,166 7,249 6,739 7,031 6,554 7,028 7,445 --361 496 580 275 545 ----211 207 176 Facilities Allotment Career & Technology Education Foundation School Funds Available School Funds Total per student funding: $8,399 Foundation School Funds 88% Available School Funds 3% Career & Technology 7% Facilities Allotment 2% 08/05/2019 Proposed Budget FY19/20 9 The shared services model utilized by Municipal and Academic teams provide the Academy with administrative services. GENERAL FUND EXPENDITURES Amended Proposed $ Increase % Increase Academic & Municipal Expenditure Costs FY 2018/19 FY 2019/20 (Decrease)(Decrease) Operating Expenditures 8,565,326$ 9,284,841$ 719,515$ 8.40% Municipal-Transfer to WA Operating Budget 209,806 219,750 9,944 4.74% Municipal-Transfer to WA WAF Staff - 67,911 67,911 100.00% Total Academic Costs 8,775,132 9,572,502 797,370 9.09% Annual Debt Service (Municipal budget)1,830,961 1,835,190 4,229 0.23% Major Maintenance and Replacement (Fnd 600-Dept 17)377,182 388,407 11,225 2.98% In-direct Operating Costs (Payroll & Related)837,873 966,144 128,271 15.31% Total Municipal Costs 3,046,016 3,189,741 143,725 4.72% Academic (General) & Municipal Expenditure Costs 11,821,148$ 12,762,243$ 941,095$ 7.96% Number of Students 869 910 41 4.72% Total Expenditure Cost per Student 13,603$ 14,024$ 421$ 3.10% 08/05/2019 Proposed Budget FY19/20 10 Proposed Projected Projected Projected Projected FY 19/20 FY 20/21 FY 21/22 FY 22/23 FY 23/24 Total Revenues 9,717,933 9,676,517 9,720,363 9,764,474 9,808,851 Total Expenditures 9,572,502 9,572,847 9,742,344 9,931,047 10,107,020 Net Other Sources/Uses - - - - - Excess Revenues Over(under) Expenditures 145,431 103,670 (21,981) (166,573) (298,170) Fund Balance Beginning 1,253,786 1,399,217 1,502,886 1,480,906 1,314,332 Fund Balance Ending 1,399,217 1,502,886 1,480,906 1,314,332 1,016,163 Assigned Fund Balance (34,000) (33,050) (32,148) (31,290) (30,476) Unassigned Fund Balance 1,365,217 1,469,836 1,448,758 1,283,042 985,687 Operating Days 52 56 54 47 36 Dollars per Operating Day 26,226 26,227 26,691 27,208 27,690 Total Students Enrolled 910 915 920 925 930 TEA Funding per Student (incl CTE/SPED)8,399 8,219 8,215 8,211 8,208 Operating Cost per Student 10,519 10,462 10,590 10,736 10,868 Teachers 70.30 70.50 70.50 70.50 70.50 Student/Teacher Ratio 12.94 12.98 13.05 13.12 13.19