Budget and Finance Foothills Education Charter High School - - PowerPoint PPT Presentation
Budget and Finance Foothills Education Charter High School Governance Team Training March 27, 2019 What We ll Cover Where are we in FY 19 Financial Summary Midterm Discussion TRS Concern What does FY 20 look like Revenues
Foothills Education Charter High School Governance Team Training March 27, 2019
Ê Where are we in FY 19
Ê Financial Summary Ê Midterm Discussion Ê TRS Concern
Ê What does FY 20 look like
Ê Revenues Ê Expenditures
Ê Budgeted
Ê Allotment Sheet
Ê Funding different than traditional systems
Ê HB 787 Ê Midterm Allotment Ê Recommendation – utilize additional Midterm for regional office
expenses and leave invested funds alone, restricted for future facilities needs
57.33% 23.75% 3.25% 12.64% 3.02% Percent of Budget
Instruction and Support Administration Business Services Support and Other Services Increase in Fund Balance
Ê Audits completed by independent CPAs recommended by the
State Charter School Commission
Ê 3 Years of finding free audits Ê We are considered an LEA like traditional school systems but are also
a non-profit
Ê Must file an IRS tax return 990T each year Ê Completed by auditor
Ê Cross Functional Monitoring
Ê March 26, 2019 Ê Funds Consolidation
Ê Consolidated Special Ed IDEA funds for the first time this year
Ê Assisting Charter Foundation in working with software company to
write a software program that will automate drawdowns and JEs
Ê https://gacharters.org/press-releases/georgia-legislature-
provides-better-funding-charter-schools-hb-787/
Ê Increased state supplement portion of funding for charter schools
as well as the capital outlay funding (almost $1500 per student)
Ê Provided forward funding for all start up charters Ê Ensured charter schools could be part of their RESAs and receive
RESA services
Ê Provided additional funding for virtual schools for technology
costs
Ê Original Allotment compared to Midterm Prelim Allotment
Ê Original Allotment $11,682,447, 1440 students Ê Revised to $13,652,916, 1727 students - $1,970,469 increase Ê Midterm to $15,189,322, 1727 students - $1,536,406 increase
Ê Increase from Budget of $1,671,853 Ê Increase in FTE (1440 original increased to 1727 in midterm) Ê Average Revenue per student - $8795
Ê Second payment of site operations fees Ê Use of midterm for Regional Office Expenses
Ê Renovation Ê Furniture Ê Equipment/Supplies
Ê Leave $3 million invested and restricted for future facilities
needs
Ê Review year end status
Ê Increase restricted fund so unrestricted stays at 15% or less
Ê Salary Cap for Retirees (4.34%) Ê Working with TRS since July/August to get all our retirees’
employment verifications approved (11.5% of our staff – 110
Ê Scott Gordon, Mark Channell, Roy Morris Ê We will not give any raises above 4% for FY 20
Ê Will stay within salary cap from this point forward
Ê Plan to take a road trip to Atlanta after the budget is
approved in June and meet with TRS face to face to improve the process for FY 20
Personnel Additions
phone allotments
passed as originally presented)
forwarded to Governance team no later than May 10, 2019
May Governance Team meeting
Initial Budget due to DOE by September 30, 2019