INSTRUCTIONS FOR PRESENTATIONS TO THE BOARD BY PARENTS AND CITIZENS

Transcription

1 Draft Minutes REGULAR BOARD MEETING BOARD OF DIRECTORS Nevada Virtual Academy Tuesday January 26, :00pm NVVA Office 8965 S. Eastern Ave. Suite 330 Las Vegas, NV Persons wishing to attend via conference call may do so by calling the Nevada Virtual Academy Office 24 hours in advance at for phone number and passcode. Posted on 1/20/2016 on the NVVA school website, and at physical locations of 8965 S. Eastern Ave, Ste 330, Las Vegas, NV and 3720 E. Tropicana Ave, Las Vegas, NV 89121, and 3521 N Durango Dr., Las Vegas, NV INSTRUCTIONS FOR PRESENTATIONS TO THE BOARD BY PARENTS AND CITIZENS The Nevada Virtual Academy ( School ) welcomes your participation at the School s Board meetings. The purpose of a public meeting of the Board of Directors ( Board ) is to conduct the affairs of the School in public. We are pleased that you are in attendance and hope that you will visit these meetings often. Your participation assures us of continuing community interest in our School. To assist you in the ease of speaking/participating in our meetings, the following guidelines are provided. 1. Agendas are available to all audience members at the door to the meeting, by requesting the agenda from the Karen Richardson, Secretary to the Board ( ext. 7016) or on the School s website at: 2. Requests to Speak forms are available to all audience members who wish to speak on any agenda items or under the general category of Oral Communications. Speakers may also request to be placed on Speakers List by calling the School s Office ( ext. 7016) seventy two hours in advance of the meeting. 3. The Oral Communications portion is set-aside for members of the audience to raise issues that are not specifically on the agenda. However, due to public meeting laws, the Board can only listen to your issue, not take action. These presentations are limited to three (3) minutes and total time allotted to non-agenda items will not exceed fifteen (15) minutes. The Board may give direction to staff to respond to your concern or you may be offered the option of returning with a citizen-requested item. 4. With regard to items that are on the agenda, you may specify that agenda item on your request form and you will be given an opportunity to speak for up to three (3) minutes when the Board discusses that item. 5. When addressing the Board, speakers are requested to state their name and address from the podium and adhere to the time limits set forth. 6. Citizens may request that a topic related to school business be placed on a future agenda by submitting a written request at least seventy-two (72) hours in advance of any regular meeting. Once such an item is properly agenized and publicly noticed, the Board can respond, interact, and act upon the item. 1 B o a r d o f D i r e c t o r s J a n u a r y 2 6, G e n e r a l M e e t i n g N e v a d a V i r t u a l A c a d e m y

2 I. PRELIMINARY A. CALL TO ORDER Meeting called to order at _5:02 PM ROLL CALL Member Title Term Present Absent In Out Mr. Don Curry President 2018 X 5:00 6:11 Mr. Richard Gordon Esq Vice President 2018 X 5:04 6:11 Mrs. Sarah Hoffman Secretary/Treasurer 2016 X 5:00 6:11 VACANT Member 2018 Mr. John Vettel Member 2016 X 5:00 6:11 Dr. Anne Mendenhall Member 2015 X 5:00 6:11 Mrs. Beth Wells Member 2017 X 5:07 6:11 C. FLAG SALUTE II. COMMUNICATIONS A. ORAL COMMUNICATIONS/PUBLIC COMMENTS: No individual comment shall be for more than three (3) minutes and the total time for this purpose shall not exceed fifteen (15) minutes. Board members may respond to comments however no action can be taken. The Board may give direction to staff following comment. None B. APPROVED PRESENTATIONS: Presentations are previously approved by the Board President for the purpose of information, innovation, or student and staff achievement and accomplishments. Board members may respond to presentations however no action can be taken. None C. BOARD PRESIDENT ADDRESS AND RECOGNITION Resignation of Mrs. Heather Haslem, board member Consideration to retain Mrs. Caroline McIntosh on a part-time basis for consultation services to NVVA Governing Board President Curry moved for a flexible agenda. D. FOR POSSIBLE ACTION: APPROVAL OF PREVIOUS BOARD MINUTES The minutes for board meeting held on December 1, 2015 are presented for review and acceptance. Motion by Dr. Mendenhall to approve the minutes of the December 1, 2015 meeting as prepared. Second by Mr. Vettel. Motion passed unanimously. 2 B o a r d o f D i r e c t o r s J a n u a r y 2 6, G e n e r a l M e e t i n g N e v a d a V i r t u a l A c a d e m y

3 Member Motion Aye No Abstain Absent Mr. Don Curry X Mr. Richard Gordon Esq X Mrs. Sarah Hoffman X Mr. John Vettel 2 nd X Dr. Anne Mendenhall M X Mrs. Beth Wells X Mrs. Samantha Morris X Motion Carried ( X ) Not Carried( ) Vote, (A 7 ) (N )(Ab ) Tabled( ) E. HEAD OF SCHOOL S REPORT: Orlando Dos Santos 1. Sandhill Satellite Learning Site Update Phase 2 Mr. Dos Santos explained that the phase 1 move-in date is set for Feb 22 nd. Phase 2 is needed to move the remaining staff into the new office which will allow the current Eastern office space to be sub-leased and allow all office staff to be in one location. Bids are being collected for the phase 2 options. 2. School Improvement Grant Update 3. CCSD changes impact NVVA Mr. Dos Santos shared that CCSD has made a school year change beginning with the school year to have a starting date of August 8, This re-alignment will place the end of first semester just before winter break and second semester will start right after that. NVVA will follow that same school schedule. Another change is the increase in salary that CCSD is implementing and in order to remain competitive NVVA is compiling comparison data to determine what is feasible to implement within budgeting restraints. A proposal will be made in the February 23 rd board meeting. 4. STEM Competition Mr. Dos Santos stated that the Lego League was in a competition this past weekend and one team placed fourth out of thirty-two teams. 5. Mr. Dos Santos also shared that the ACT Conference is being held at UNLV on Friday, January 29, 2016 and that himself and Mrs. Janine Calhoun will be presenting on the JumpStart program currently operating at the school. III. CONSENT AGENDA ITEMS (Information/Public Comment/Possible Action-If discussion is needed on any item then it shall be placed in Scheduled for Action IV) All matters listed under the consent agenda are considered by the Board to be routine and will be approved/enacted by the Board in one motion in the form listed below. Unless specifically requested by a Board member for further discussion or removed from the agenda, there will be no discussion of these items prior to the Board votes on them. The Head of School recommends approval of all consent agenda items. 3 B o a r d o f D i r e c t o r s J a n u a r y 2 6, G e n e r a l M e e t i n g N e v a d a V i r t u a l A c a d e m y

4 Approval of contracts- licensed personnel: o MS: Randi Wright, 5 th Grade Approval of resignations Marilyn Loop, RTI Coordinator Approval of terminations E. Holt, MS English Motion to Approve_Mr. Vettel_ Second_Mr. Gordon Vote (A 7 ) (N ) (Ab ) IV. SCHEDULED FOR ACTION (Information/Public Comment/Discussion/Action) A. BUSINESS _01-IV-BDRPT Consideration to appoint Mrs. Samantha Morris to the position of board member to serve the remaining term of resigning member Mrs. Heather Haslem. Term would expire October Motion by Mr. Vettel to approve Mrs. Samantha Morris to the remaining term being vacated by Mrs. Haslem. Second by Dr. Mendenhall. Motion passed unanimously. Member Motion Aye No Abstain Absent Mr. Don Curry X Mr. Richard Gordon Esq X Mrs. Sarah Hoffman X Mr. John Vettel M X Dr. Anne Mendenhall 2nd X X Mrs. Beth Wells VACANT Motion Carried ( X ) Not Carried( ) Vote, (A 6 ) (N )(Ab ) Tabled( ) B. INSTRUCTION AND CURRICULUM C. PERSONNEL D. PUPIL SERVICES V. ITEMS SCHEDULED FOR INFORMATION School Balance Sheet: Paul Mazzarella, K12 Western Region Financial Director School Credit Card Review: Don Curry, NVVA Board Chair 4 B o a r d o f D i r e c t o r s J a n u a r y 2 6, G e n e r a l M e e t i n g N e v a d a V i r t u a l A c a d e m y

5 VI. NON-MEETING SESSION The NVVA Board will retire to discuss items listed. This part of meeting is closed to the general public. Any proposal will be brought forth for action in the general meeting. VII. CLOSING PROCEDURES A. PUBLIC COMMENTS: No individual comment shall be for more than three (3) minutes and the total time for this purpose shall not exceed fifteen (15) minutes. Board members may respond to comments however no action can be taken. The Board may give direction to staff following comment. None B. BOARD DISCUSSION - SUGGESTIONS FOR FUTURE AGENDA ITEMS: Staff turnover report C. ADJOURNMENT Motion to adjourn _Mr. Vettel Second _Mrs. Wells Meeting was adjourned at 6:11 PM The next board meeting is scheduled for Tuesday, February 23, 2016 at 5:00 pm 5 B o a r d o f D i r e c t o r s J a n u a r y 2 6, G e n e r a l M e e t i n g N e v a d a V i r t u a l A c a d e m y

6 Nevada Virtual Academy Data Points 2016 Hard Review Nevada Virtual Academy 1

7 Mission The mission of the Nevada Virtual Charter Academy is to promote student achievement by preparing EVERY student for college and career readiness EVERY day. Nevada Virtual Academy 2

8 Demographic Profile Ethnicity Percentage 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Am. In/AK Asian Hispanic Black White Pacific Two or More Native Islander Races State 1.01% 5.51% 41.10% 10.16% 35.07% 1.35% 5.79% State Charters 0.93% 5.56% 19.21% 9.13% 57.22% 1.63% 6.33% Nevada Virtual 1.71% 4.67% 12.58% 12.92% 65.81% 2.32% 0 State State Charters Nevada Virtual Nevada Virtual Academy 3

9 Demographic Profile Special Populations Percentage 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% IEP ELL FRL State 11.83% 16.31% 53.17% State Charters 7.84% 3.82% 22.81% Nevada Virtual 9.42% 2.66% 54.03% State State Charters Nevada Virtual Nevada Virtual Academy 4

10 2015 FRL Demographics State Average= 53.17% Nevada Virtual Academy (54.03%) Nevada Connections Academy (43.45%) Quest Academy (22.12%) Somerset Academy (5.35%) Mater Academy (72.38%) Imagine Schools (31.16%) Beacon Academy (27.29%) Silver State Charter (27.18%) Oasis Academy (15.64%) FRL # Nevada Virtual Academy Source: nevadareportcard.com 5

11 Reasons for Enrollment Zoned School 11 th Issues Proficiency Rates (Cohort 2016) Failing/ Bad School - Better short-term option Bullying Disciplinary/Truancy Issues Health Social Anxiety Word of Mouth on programs Flexibility Need more one-on-one interaction Mobility Want structure while moving throughout state Used to program from another state Closest program to Homeschooling Nevada Virtual Academy 6

12 Reasons for Success 11 th Proficiency Rates (Cohort 2016) Increased Face-to-Face/Engagement Over 1,000 sessions per month by year s end 31 sites used throughout the state A + Credit Recovery/Remediation 286 courses passed by Seniors this year 734 total courses passed this year (66% pass rate) Heightened ACT/Dual Credit Exposure Increased Dual Credit with NSHE over last 3 years Instituted ACT Prep class Teacher Accountability Weekly Data-Meetings Monthly Face-2-Face conferences Academic Coaching Nevada Virtual Academy 7

13 High School Graduation Rates Nevada Virtual Academy 8

14 High School 4-Year Graduation Rate % 4-Year Graduation Rate 63.53% 60.00% 50.00% 52.30% 56.61% 40.00% 36.60% 30.00% 20.00% 10.00% 0.00% Unsatisfactory Adequate 2014 Adequate? 2014 Adequate? 2012 Rate 2013 Rate 2015 Rate 2015 Rate2 Nevada Virtual Academy 9

15 Graduation Rate An 95.7% increase % 63.08% 70.65% 70.00% 70.77% 63.53% 52.29% 56.61% 32.47% 36.56% 25 Total 68 Total 114 Total 137 Total 115 Total NVVA State Source: nevadareportcard.com Nevada Virtual Academy 10

16 HS Grad. Rate Comparison 80.00% 70.00% 72.70% 65.65% 65.51% 65.54% 66.35% 64.69% 63.54% 2015 Grad. Rate 71.35% 60.00% 50.00% 54.03% 58.90% 58.82% 57.55% 54.22% 52.63% 40.00% 30.00% 23.74% 27.29% 20.00% 10.00% 0.00% Chaparral HS N=2270 Eldorado HS N=1920 Mojave HS N=2311 Nevada Virtual N=1155 Desert Pines N=2279 Odyssey HS N=1245 NV LRN Academy HS N=455 Beacon Academy HS N=524 Grad Rate FRL Nevada Virtual Academy 11

17 High School Career & College Readiness Nevada Virtual Academy 12

18 Average ACT Scores 11 th Grade- Spring th Proficiency Rates (Cohort 2016) NVVA State English Math Reading Science Composite Source: ACT Nevada Virtual Academy 13

19 College and Career Readiness Indicators Increased 9 th Grade Credit Sufficiency rates 44.8% in % in 2015 Increased the percentage of 12 th graders who received AP/Dual College credit 2.10% in % in 2015 Increased the percentage of 12 th graders who received and Advanced Diploma 8.8% in % in 2015 Nevada Virtual Academy 14

20 High School Proficiency Rates Nevada Virtual Academy 15

21 11 th HSPE Proficiency Rates Steady Increase 11 th Proficiency Rates (Cohort 2016) % 79.60% 81.10% 58.70% 60.10% 63.80% 64.90% 48.60% Reading Math Nevada Virtual Academy 16 Source: nevadareportcard.com

22 11 th HSPE Proficiency Rates Steady Increase 11 th Proficiency Rates (Cohort 2016) % 71.80% 72.90% 72.90% 69.40% 70.40% 56.90% 57.70% Writing Science Source: nevadareportcard.com Nevada Virtual Academy 17

23 10 th HSPE Proficiency Rates Always Increasing 11 th Proficiency Rates (Cohort 2016) est % 47.80% 54.20% Science Source: NSPF Nevada Virtual Academy 18

24 Persistence Data Nevada Virtual Academy 19

25 High School Graduation Rates For the Cohort class of 2014, 15 students finished all 4 years with Nevada Virtual Academy 12 graduated (80%) For the Cohort class of 2015, 46 students finished all 4 years with Nevada Virtual Academy 35 graduated (76%( Nevada Virtual Academy 20

26 Persistence CRT Rate Based on th Grade CRT Results (N=112) 80.00% Proficient in SY13-14 based on years of enrollment 70.00% 66.70% 60.00% 50.00% 40.00% 41.90% 42.10% 34.80% 51.90% 44.20% 47.40% 56.50% 30.00% 20.00% 10.00% 0.00% Math Reading 1 Year 2 Year 3 Year 4 Year Nevada Virtual Academy 21

27 Axis Title Withdrawal Reasons 250 Do Not Like Online Model, Truancy, Moved, 74 Not Flexible, 52 Unknown, 40 Socialization, 32 Health, 12 0 Nevada Virtual Academy 22

28 Axis Title Withdrawal Reasons 120 Do Not Like Online Model, Not Flexible Enough, Moved, 35 Truancy, 22 Unknown, 21 Curriculum Too Hard, Technical Issues, Socialization, Nevada Virtual Academy 23

29 Churn Data Percentage of Count Day Students who Withdrew Mid-Year 31.7% 20.7% 21.1% 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% % Active Withdrawn Nevada Virtual Academy 24

30 Parent Satisfaction Survey School Environment (n=117) School Environment Good Place to Learn 0.90% % Clean and Well Maintained 1.10% % 35.70% 34.70% 57.40% 53.70% Office Runs Well 1.80% 2.70% 14.20% 35.40% 46% Place where Learning Occurs 1.90% 11.10% 32.40% 52.80% Involvement at School 1.80% 2.60% 10.50% 36.00% 49.10% Feel Welcome 0.90% 2.70% 8.80% Caring and Nurturing 1.70% % School is Safe 1.80% % High Standards 1.70% % 26.50% 27.80% 24.80% 32.50% 61.10% 60.90% 69.00% 59.00% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Strongly Disagree Disagree Neutral Agree Strongly Agree Nevada Virtual Academy 25

31 Parent Satisfaction Survey School Environment (n=117) Educational Program Results Overall Satisfaction 05.20% 10.40% 30.40% 53.90% Close Adult Relationships 2.80% 7.50% 15.90% 32.70% 41.10% Discipline is Fair 1.00% 1.90% 12.40% 34.30% 51% Meaningful Assignments 1.70% 3.40% 15.50% 30.20% 49.10% Individualized Instruction 0.90% 4.30% 8.60% 31.90% 54.30% School Tests Accurate Measures 5.20% 7.00% 18.30% 29.70% 40.90% Teaching Life Skills 1.80% 7.00% 14.00% 26.30% 50.90% Teaching Basic Skills 0.90% 3.50% 9.60% 36.50% 49.60% Preparing for College 0.90% 13.20% 28.90% 56.10% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Strongly Disagree Disagree Neutral Agree Strongly Agree Nevada Virtual Academy 26

32 Blended is Working! 9 % of Students that Showed HSPE Score Improvement (Nov. 2015) % % % N=23 N=11 N= 19 N= 20 Math Reading Science Writing

33 emergency exit office office office office MAP: free stand. wall w/smart board mount. printing lounge storage 157SQ.ft. office conference OFFICE OFFICE OFFICE bathrooms OFFICE OFFICE OFFICE women men pantry exist. break rm. kitchen OFFICE OFFICE exist. exist. exist. February 16, /4"=1'-0" sandhill SCALE:1/4:=1'-0" A. Patton A. Patton NVVA Sandhill

34 office office office office office free stand. MAP: wall w/smart board mount. printing office lounge storage office OFFICE OFFICE OFFICE conference OFFICE OFFICE OFFICE bathrooms OFFICE OFFICE OFFICE women men pantry exist. break rm. kitchen OFFICE OFFICE exist. exist. exist. February 16, /4"=1'-0" sandhill SCALE:1/4:=1'-0" A. Patton A. Patton NVVA Sandhill

35 ENGLISH LEARNER PLAN STATE PUBLIC CHARTER SCHOOL AUTHORITY Part I (A) Site specific implementation plans will be created following the State Public Charter School Authority (SPCSA) policy and will include relevant research and consultation with teachers, school administrators and English Learner (EL) parents. SPSCA draft EL policy was developed on January 15, 2016 utilizing federal and state resources, with input from stakeholders including SPSCA and Nevada Department of Education (NDE) EL staff, administrators, teachers, and parents]. Part II Part III (A) The mission of the SPCSA is to provide English Learners (EL) equitable access to curricular and extracurricular programs through language acquisition support services which will promote progress towards mastery of standards and college and career readiness. (B) Through direct and indirect instruction of academic English, EL students will acquire proficiency as determined by the Nevada language proficiency criteria and standards. Site specific approaches will be determined based upon philosophies, school mission, resources, and needs. (C) The terms and associated acronyms throughout the document are as follows: State Public Charter School Authority SPCSA; English Learner EL; Nevada Department of Education NDE; School Performace Plans SPP; Home Language Survey HLS; and, English Language Proficiency Assessment ELPA. (D) Site based School Performancet Plans (SPP), individual school s EL policies, and SPCSA EL policies. (A-1) Upon enrollment of new students into our schools, families will complete the Home Language Survey (HLS) and submit it with other required school registration documents. Newly enrolled students already pre-identified will be enrolled with the status determined by their previous academic program. (A-2) Records will be requested from students previous schools. (A-3) Schools will administer the Nevada approved language screener assessment by a trained staff member proficient in oral and written English to new students who are identified through the screening process within federal timeline requirements. (A-4) Exit/reclassification from EL status will be aligned with State exit/reclassification requirements. P a g e 1 3

36 ENGLISH LEARNER PLAN STATE PUBLIC CHARTER SCHOOL AUTHORITY (B-1) Schools will use the State approved English Language Proficiency Assessment (ELPA) that meets all general administration and special education requirements of 1% of students with significant cognitive disabilities. Schools will implement all appropriate accommodations and approved universal supports for EL students with disabilities and test all identified students annually within the State assigned test window. Parents may opt out of available services, but may not opt out of assessments designed to identify language acquisition needs. (B-2) Schools will analyze results of aggregated and disaggregated trend data from State required assessments. The interpretation of this data will be used to measure results over time to show language growth and provide designated supports as needed. (B-3) Informal interim proficiency assessments will be site specific and will evaluate EL students academic language acquisition progress in comparison to their English proficient peers. (B-4) Schools will identify and use EL specific best practices and accommodations to differentiate instruction while maintaining grade-level content expectations. Schools will use State and informal student data and parent consent to implement EL specific practices and accommodations to provide services. (CI-1) Schools will utilize targeted academic language acquisition instructional models based on student English language proficiency levels to support student grade-level achievement. Schools will evaluate resource allocation based on enrollment numbers, student need and data results. Resources may include personnel, facilities, curricular materials, and professional development. (CI-2) Schools will use Federal qualifications for special education and site protocols to determine Gifted and Talented students. Schools will define and implement criteria, ensuring students equitable access to Special Education, Gifted and Talented and all other school related activities and programs. School EL personnel will work in collaboration with the special education personnel to protect against over and under identification into special education to ensure both program services are met as needed. (CII-1) Schools will provide highly qualified licensed personnel and/or EL endorsed/trained staff to implement EL programs/services. (CII-2) Personnel roles will be defined by the need for EL services. Roles may include administrators, test coordinators, EL certified staff, EL classified staff, content teachers, and others (i.e., counselors, reading specialists, etc.). (CII-3) EL staff will be included in the collaboration for the development of school-wide programs and initiatives. (CIII-1/2)Teachers will utilize high quality standards based instructional materials for English language development and grade-level content instruction aligned with the P a g e 2 3

37 ENGLISH LEARNER PLAN STATE PUBLIC CHARTER SCHOOL AUTHORITY Nevada English Language Development Standards and Nevada Academic Content Standards. (CIII-3)Schools will utilize curriculum that integrates cultural and linguistic awareness, builds background knowledge, and promotes students to acquire academic language. (CIV-1)An academic team of instructional leaders, EL and content staff will analyze both program and assessment results to determine the professional development priorities designed to meet student learning needs. (CIV-2)Upon receiving Title III funds, the SPCSA will determine the use and distribution to include professional development. (CV-1)Schools will utilize EL instructional models applicable to their programs of service to meet English proficiency and mastery of content knowledge within a reasonable length of time. (CV-2) Schools will identify the criteria for assigning EL students to receive services in a particular model as identified by the state based on student needs and site programs. (DI-I) Schools will provide parental notification of EL status consistent with state and federal law. (DI-2) Schools will provide an opportunity and mechanism for parents to comprehend essential communications. (DI-3)Schools will encourage parents to be involved in their children s education by providing opportunities to engage in school activities and in regular advisory meetings. (DI-4)Schools will promote parental, family and community engagement for participation in school programs. (E) Schools will provide supplemental information regarding EL programs designated to improve language acquisition, academic achievement, and English proficiency that is independent of the school program yet facilitated by the school. The school will assist parents in accessing these programs. These programs may include, but are not limited to, online programs, printed materials, courses offered, etc. P a g e 3 3

38 Nevada Virtual Academy Budget vs. Forecast Full Year Report FY Full Year Comparison-Budget Budget Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments K-8 Ending Enrollment 2,044 1,402 (642) -31.4% HS Ending Enrollment % Total Ending Enrollment 2,528 2,212 (315) -12.5% Enrollment is 315 less than the anticipated budget enrollment FUNDING SOURCES: Basic Formula Funding - K-8 and HS $ 18,734,882 $ 15,327,073 $ (3,407,809) -18.2% Decrease in Funding due to decline in enrollment Special Education Funding - K-8 and HS $ 148,077 $ 107,628 $ (40,449) -27.3% Discretionary Revenue is lower than prior year revenue - anticipated in the budget. Other State Unrestricted Funds $ - $ 254,392 $ 254,392 Additional Revenue from Full Day Kindergarten Fund State Restricted Funds - Non-SPED $ - $ - $ - State Restricted Funds - SPED $ - $ - $ - Federal - Title Funds $ - $ - $ - Federal - IDEA Funds $ - $ - $ - Other Federal Funds $ - $ - $ - Other Funding/Inc - Included in M&T base $ - $ - $ - Other Funding/Inc - Non M&T Base $ 1,280,036 $ 899,050 $ (380,986) -29.8% SPED Part B and Title I Revenues are lower than prior year revenue. Interest Income / Other $ 2,783 $ 5,687 $ 2, % Summer School Revenue Total Funding $ 20,165,778 $ 16,593,830 $ (3,571,948) -17.7% Instruction: Teachers Salary - Regular $ 3,007,441 $ 3,795,313 $ 787, % The increase in teacher salary is higher than projected salary increase in the budget. In addition, total FTE increased by 10. Salary - Special Ed $ 697,713 $ 789,026 $ 91, % The increase in teacher salary is higher than projected salary increase in the budget. In addition, total FTE increased by 10. Salary - ICs / Advisors / Counselors $ 278,783 $ 451,381 $ 172, % The increase in teacher salary is higher than projected salary increase in the budget. In addition, total FTE increased by 10. Salary - Title $ - $ - $ - Salary - Other $ - $ - $ - Salary - Part-Time Regular $ 120,697 $ 69,878 $ (50,818) -42.1% Part time teachers are less than anticipated in the budget. Salary - Part-Time Special $ - $ - $ - Salary - Part-Time ICs / Advisors / Counselors $ - $ - $ - Benefits $ 2,064,396 $ 2,556,557 $ 492, % Higher salary drove benefits to be higher. Bonus $ - $ - $ - Travel $ 86,678 $ 99,339 $ 12, % Expenses are higher due to increase in teacher FTE Phone $ 84,744 $ 96,300 $ 11, % Expenses are higher due to increase in teacher FTE Instructional Materials $ 88,511 $ 88,511 $ - Curriculum Delivery $ 226,085 $ 353,395 $ 127, % Curriculum expense is higher than anticipated budget due to more teacher FTE's. K12 Charges-HS Teacher $ - $ 2,893 $ 2,893 Teacher Laptops $ 61,307 $ 61,307 $ - Non-Instructional Materials & Supplies $ 51,004 $ 58,727 $ 7, % Conf., Teacher Training & Prof. Dev. $ 152,136 $ 176,415 $ 24, % Conf., Teacher training & Prof. Dev't. expense is higher than anticipated budget due to more teacher FTE's. Printing, Mailing, Postage $ - $ - $ - Tuition reimb. $ 990 $ 1,125 $ % ISP $ 131,175 $ 149,063 $ 17, % ISP reimbursements are higher due to additional teacher FTE. Non-K12 Other $ 15,000 $ 15,000 $ - Total $ 7,066,661 $ 8,764,228 $ 1,697, % Instruction: Students Proctored Exams & Test Administration $ 302,407 $ 264,703 $ (37,704) -12.5% Decrease in expense primarily due to decrese in enrollment. Curriculum Delivery $ 3,764,325 $ 3,385,182 $ (379,142) -10.1% Decrease in expense primarily due to decrese in enrollment. Instructional Materials $ 2,263,861 $ 1,974,342 $ (289,519) -12.8% Decrease in expense primarily due to decrese in enrollment. Computer, Peripherals, & Software $ 1,066,636 $ 585,007 $ (481,630) -45.2% Decrease in expense primarily due to decrese in enrollment. ISP $ 140,000 $ 17,708 $ (122,292) -87.4% Decrease in expense primarily due to decrese in enrollment. Sales Tax $ - $ - $ - K12 Charges Other $ 5,807 $ 5,807 $ - Non-K12 Other $ 262,000 $ 271,317 $ 9, % Total $ 7,805,036 $ 6,504,064 $ (1,300,972) -16.7% Student and Family Services Special Ed Contracted Svcs & Other Related Exp. $ 290,675 $ 331,900 $ 41, % SPED expenses increased primarily due to increase in SPED students needs in general. Field Trips $ 8,669 $ 8,669 $ - Hybrid Program $ - $ - $ - School Events $ 31,753 $ 31,753 $ - Annual School Reports $ - $ - $ - School Premiums $ - $ - $ - Non-K12 Other $ - $ - $ - Total $ 331,097 $ 372,322 $ 41, %

39 Nevada Virtual Academy Budget vs. Forecast Full Year Report FY Full Year Comparison-Budget Budget Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments School Administration & Governance Educational Services $ 2,852,238 $ 2,183,098 $ (669,140) -23.5% Decrease is primarily due to decrease in revenue amounts driven by decline in enrollment. Oversight/Sponsor Fee $ 283,244 $ 231,521 $ (51,724) -18.3% Decrease is primarily due to decrease in revenue amounts driven by decline in enrollment. Legal Services $ 40,000 $ 68,900 $ 28, % Legal Expenses are higher than anticipated in the budget Payroll Services $ - $ - $ - Auditing - External $ 23,500 $ 24,880 $ 1, % Board Development & Training $ 10,498 $ 10,498 $ - Administrator Travel $ 35,713 $ 39,426 $ 3, % Administrator Phone $ - $ - $ - Admin Computer, Peripherals, & Software $ - $ - $ - Non-K12 Administrative Staff Salaries $ 738,623 $ 761,690 $ 23, % The increase in Non-K12 Administrative salary is higher than projected salary increase in the budget. Non-K12 Administrative Staff Benefits $ 376,698 $ 284,564 $ (92,134) -24.5% Admin staff benefits are lower due to lower benefits take rate. Non-K12 Administrative Staff Bonus $ - $ - $ - Consultants $ 20,000 $ 20,000 $ - Temporary employees $ - $ 180 $ 180 Non-K12 Other $ 3,000 $ 3,000 $ - Total $ 4,383,514 $ 3,627,756 $ (755,759) -17.2% Technology Technology Services $ 1,321,807 $ 1,080,429 $ (241,378) -18.3% Decreased is primarily due to decrease in revenue amounts driven by decline in enrollment. Non-K12 Other $ - $ - $ - Total $ 1,321,807 $ 1,080,429 $ (241,378) -18.3% Insurance / Facilities / Other Rent $ 300,085 $ 390,715 $ 90, % Increase in rent is due to new Sandhill facility. Maintenance/Repair Facility $ 8,800 $ 87,337 $ 78, % Increase is due to new Sandhill facility tenant improvements and costs that were expensed (bathroom renovation). Water & Electric $ 18,000 $ 18,000 $ - Telephone $ 96,000 $ 80,000 $ (16,000) -16.7% Telephone and Internet Connection expense is both billed by Megapath. Internet Connection $ 6,072 $ 22,072 $ 16, % Telephone and Internet Connection expense is both billed by Megapath. Conference calls $ 2,800 $ 2,800 $ - Copier / Fax Lease $ 28,900 $ 28,900 $ - Outside Copying $ - $ - $ - Office Postage and Shipping $ 37,536 $ 38,374 $ % Office supplies and equipment $ 246,967 $ 256,451 $ 9, % Computer equip. & installation $ 30,625 $ 34,242 $ 3, % General Liability Insurance $ 61,416 $ 61,416 $ - Bank fees $ 1,500 $ 1,500 $ - Depreciation $ 7,215 $ 7,215 $ - Non-K12 Other $ 10,046 $ 23,370 $ 13, % Increase is primarily due to Dept. of Public Works traffic study expense for new Sandhill location. Total $ 855,962 $ 1,052,392 $ 196, % Total School Expenditures This Period $ 21,764,078 $ 21,401,191 $ (362,886) -1.7% Surplus (Deficit) This Period $ (1,598,300) $ (4,807,361) $ (3,209,062) 200.8% Surplus from Prior Year $ 6,646,242 $ 6,646,242 $ - Net Positive Assets $ 5,047,942 $ 1,838,881 $ (3,209,062) -63.6%

40 Nevada Virtual Academy Budget vs. Forecast Year to Date Report FY January YTD Comparison-Budget Budget Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments K-8 Ending Enrollment 2,172 1,429 (743) -34.2% HS Ending Enrollment % Total Ending Enrollment 2,678 2,249 (429) -16.0% Enrollment is 429 less than the anticipated Year-to-date enrollment FUNDING SOURCES: Basic Formula Funding - K-8 and HS $ 10,928,681 $ 8,948,856 $ (1,979,825) -18.1% Decrease in Funding due to decline in enrollment Special Education Funding - K-8 and HS $ 86,378 $ - $ (86,378) -10 Timing of Receipt of Discretionary Revenue is in the later months. Other State Unrestricted Funds $ - $ 126,156 $ 126,156 Additional Revenue from Full Day Kindergarten Fund State Restricted Funds - Non-SPED $ - $ - $ - State Restricted Funds - SPED $ - $ - $ - Federal - Title Funds $ - $ - $ - Federal - IDEA Funds $ - $ - $ - Other Federal Funds $ - $ - $ - Other Funding/Inc - Included in M&T base $ - $ - $ - Other Funding/Inc - Non M&T Base $ 746,688 $ 211,836 $ (534,852) -71.6% Timing of receipt of SPED Part B and Title I revenue is in the later months. Interest Income / Other $ 2,700 $ 5,687 $ 2, % Summer School Revenue Total Funding $ 11,764,447 $ 9,292,536 $ (2,471,911) -21.0% Instruction: Teachers Salary - Regular $ 1,794,840 $ 2,084,577 $ 289, % The increase in teacher salary is higher than projected salary increase in the budget. Salaries are higher in Regular than SPED and Non K12 Admin. Salary - Special Ed $ 419,066 $ 336,791 $ (82,275) -19.6% Salaries are higher in regular teachers than SPED and Admin FTE. Salary - ICs / Advisors / Counselors $ 169,094 $ 234,608 $ 65, % The increase in teacher salary is higher than projected salary increase in the budget. Salaries are higher in Regular than SPED and Non K12 Admin. Salary - Title $ - $ - $ - Salary - Other $ - $ - $ - Salary - Part-Time Regular $ 60,348 $ - $ (60,348) -10 Salaries are higher in regular teachers than Part time, SPED and Admin FTE. Salary - Part-Time Special $ - $ - $ - Salary - Part-Time ICs / Advisors / Counselors $ - $ - $ - Benefits $ 1,231,623 $ 1,081,231 $ (150,392) -12.2% The expenses are projected to be higher in June due to timing of the 12th month salary. Bonus $ - $ - $ - Travel $ 50,562 $ 31,133 $ (19,430) -38.4% The timing of expenses are projected to be on the later months. Phone $ 49,434 $ 50,154 $ % Instructional Materials $ 51,631 $ 14,575 $ (37,056) -71.8% The timing of expenses are projected to be on the later months. Curriculum Delivery $ 122,521 $ 178,579 $ 56, % Curriculum expense is higher than anticipated budget due to increase in FTE K12 Charges-HS Teacher $ - $ 2,893 $ 2,893 Teacher Laptops $ 35,762 $ 57,115 $ 21, % Expenses are higher due to increase in teacher FTE Non-Instructional Materials & Supplies $ 29,753 $ 5,968 $ (23,784) -79.9% The timing of expenses are projected to be on the later months. Conf., Teacher Training & Prof. Dev. $ 89,529 $ 31,400 $ (58,129) -64.9% The timing of expenses are projected to be on the later months. Printing, Mailing, Postage $ - $ - $ - Tuition reimb. $ 578 $ - $ (578) -10 ISP $ 76,519 $ 79,566 $ 3, % ISP reimbursements are higher due to additional teacher FTE. Non-K12 Other $ 8,750 $ - $ (8,750) -10 Total $ 4,190,009 $ 4,188,590 $ (1,419) Instruction: Students Proctored Exams & Test Administration $ 80,642 $ 5,434 $ (75,208) -93.3% Decrease in expense primarily due to decrese in enrollment. Curriculum Delivery $ 2,147,589 $ 1,868,238 $ (279,351) -13.0% Decrease in expense primarily due to decrese in enrollment. Instructional Materials $ 1,916,875 $ 1,379,422 $ (537,453) -28.0% Decrease in expense primarily due to decrese in enrollment. Computer, Peripherals, & Software $ 682,671 $ 320,795 $ (361,876) -53.0% Decrease in expense primarily due to decrese in enrollment. ISP $ 81,667 $ 11,511 $ (70,156) -85.9% Decrease in expense primarily due to decrese in enrollment. Sales Tax $ - $ - $ - K12 Charges Other $ 3,387 $ 3,360 $ (28) -0.8% Non-K12 Other $ 152,833 $ 113,456 $ (39,378) -25.8% Decrease in expense primarily due to decrese in enrollment. Total $ 5,065,665 $ 3,702,214 $ (1,363,450) -26.9% Student and Family Services Special Ed Contracted Svcs & Other Related Exp. $ 169,560 $ 237,371 $ 67,810 4 SPED expenses increased primarily due to increase in SPED students needs in general. Field Trips $ 5,057 $ 878 $ (4,178) -82.6% Hybrid Program $ - $ - $ - School Events $ 18,523 $ 6,609 $ (11,914) -64.3% Decrease in expense primarily due to decrese in enrollment. Annual School Reports $ - $ - $ - School Premiums $ - $ - $ - Non-K12 Other $ - $ - $ - Total $ 193,140 $ 244,858 $ 51, %

41 Nevada Virtual Academy Budget vs. Forecast Year to Date Report FY January YTD Comparison-Budget Budget Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments School Administration & Governance Educational Services $ 1,663,958 $ 1,274,614 $ (389,344) -23.4% Decrease is primarily due to decrease in revenue amounts driven by decline in enrollment. Oversight/Sponsor Fee $ 165,226 $ 134,233 $ (30,993) -18.8% Decrease is primarily due to decrease in revenue amounts driven by decline in enrollment. Legal Services $ 23,333 $ 68,900 $ 45, % Legal expenses are higher than anticipated in the budget Payroll Services $ - $ - $ - Auditing - External $ 13,708 $ 24,880 $ 11, % Expenses are higher than anticipated in the budget Board Development & Training $ 6,124 $ 2,883 $ (3,240) -52.9% Administrator Travel $ 20,833 $ 17,377 $ (3,455) -16.6% Administrator Phone $ - $ - $ - Admin Computer, Peripherals, & Software $ - $ - $ - Non-K12 Administrative Staff Salaries $ 430,237 $ 339,779 $ (90,458) -21.0% Salaries are higher in Regular teachers than SPED and Admin FTE. Non-K12 Administrative Staff Benefits $ 219,421 $ 69,389 $ (150,032) -68.4% Salaries are higher in Regular teachers than SPED and Admin FTE. Non-K12 Administrative Staff Bonus $ - $ - $ - Consultants $ 11,667 $ 9,280 $ (2,387) -20.5% Temporary employees $ - $ 180 $ 180 Non-K12 Other $ 1,750 $ 2,349 $ % Total $ 2,556,256 $ 1,943,864 $ (612,392) -24.0% Technology Technology Services $ 771,054 $ 630,814 $ (140,240) -18.2% Decrease is primarily due to decrease in revenue amounts driven by decline in enrollment. Non-K12 Other $ - $ - $ - Total $ 771,054 $ 630,814 $ (140,240) -18.2% Insurance / Facilities / Other Rent $ 175,050 $ 218,218 $ 43, % Increase in rent is due to new Sandhill facility. Maintenance/Repair Facility $ 5,133 $ 20,234 $ 15, % Increase is due to new Sandhill facility tenant improvements and costs that were expensed (bathroom renovation). Water & Electric $ 10,500 $ 13,648 $ 3,148 3 Telephone $ 56,000 $ 49,022 $ (6,978) -12.5% Internet Connection $ 3,542 $ 12,944 $ 9, % Conference calls $ 1,633 $ 790 $ (843) -51.6% Copier / Fax Lease $ 16,858 $ 18,278 $ 1, % Outside Copying $ - $ - $ - Office Postage and Shipping $ 21,896 $ 19,346 $ (2,550) -11.6% Office supplies and equipment $ 176,170 $ 76,373 $ (99,796) -56.6% The timing of expenses are projected to be on the later months. Computer equip. & installation $ 17,865 $ 31,411 $ 13, % Timing of expenses are higher than anticipated this month. General Liability Insurance $ 35,826 $ 54,574 $ 18, % Timing of expenses are higher than anticipated this month. Bank fees $ 875 $ (200) $ (1,075) % Depreciation $ 4,209 $ 5,161 $ % Non-K12 Other $ 5,860 $ 23,370 $ 17, % Increase is primarily due to Dept. of Public Works traffic study expense for new Sandhill location. Total $ 531,417 $ 543,169 $ 11, % Total School Expenditures This Period $ 13,307,541 $ 11,253,510 $ (2,054,031) -15.4% Surplus (Deficit) This Period $ (1,543,094) $ (1,960,974) $ (417,880) 27.1% Surplus from Prior Year $ 6,646,242 $ 6,646,242 $ - Net Positive Assets $ 5,103,148 $ 4,685,268 $ (417,880) -8.2%

42 Nevada Virtual Academy Prior Forecast vs. Current Forecast Full Year Report FY Full Year Comparison-Budget Forecast 6+6 Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments K-8 Ending Enrollment 1,402 1,402 (0) HS Ending Enrollment (22) -2.6% Total Ending Enrollment 2,235 2,212 (22) -1.0% Enrollment projection decreased by 22 from prior forecast. FUNDING SOURCES: Basic Formula Funding - K-8 and HS $ 15,340,895 $ 15,327,073 $ (13,822) -0.1% Decrease in revenue from prior forecast as a result of a projected decrease in enrollment. Special Education Funding - K-8 and HS $ 107,628 $ 107,628 $ - Other State Unrestricted Funds $ 254,392 $ 254,392 $ - State Restricted Funds - Non-SPED $ - $ - $ - State Restricted Funds - SPED $ - $ - $ - Federal - Title Funds $ - $ - $ - Federal - IDEA Funds $ - $ - $ - Other Federal Funds $ - $ - $ - Other Funding/Inc - Included in M&T base $ - $ - $ - Other Funding/Inc - Non M&T Base $ 1,064,600 $ 899,050 $ (165,550) -15.6% Decrease in revenue is due to lower Title I revenue versus allocated in the prior year. Interest Income / Other $ 5,140 $ 5,687 $ % Additional Revenue from Summer school Total Funding $ 16,772,655 $ 16,593,830 $ (178,825) -1.1% Instruction: Teachers Salary - Regular $ 3,737,237 $ 3,795,313 $ 58, % Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Salary - Special Ed $ 786,909 $ 789,026 $ 2, % Salary - ICs / Advisors / Counselors $ 439,146 $ 451,381 $ 12, % Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Salary - Title $ - $ - $ - Salary - Other $ - $ - $ - Salary - Part-Time Regular $ 83,854 $ 69,878 $ (13,976) -16.7% Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Salary - Part-Time Special $ - $ - $ - Salary - Part-Time ICs / Advisors / Counselors $ - $ - $ - Benefits $ 2,529,258 $ 2,556,557 $ 27, % Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Bonus $ - $ - $ - Travel $ 99,339 $ 99,339 $ - Phone $ 96,300 $ 96,300 $ - Instructional Materials $ 88,511 $ 88,511 $ - Curriculum Delivery $ 353,395 $ 353,395 $ (0) K12 Charges-HS Teacher $ 2,170 $ 2,893 $ % Teacher Laptops $ 61,307 $ 61,307 $ - Non-Instructional Materials & Supplies $ 58,727 $ 58,727 $ - Conf., Teacher Training & Prof. Dev. $ 176,415 $ 176,415 $ - Printing, Mailing, Postage $ - $ - $ - Tuition reimb. $ 1,125 $ 1,125 $ - ISP $ 149,063 $ 149,063 $ - Non-K12 Other $ 15,000 $ 15,000 $ - Total $ 8,677,755 $ 8,764,228 $ 86, % Instruction: Students Proctored Exams & Test Administration $ 267,339 $ 264,703 $ (2,637) -1.0% Curriculum Delivery $ 3,418,904 $ 3,385,182 $ (33,722) -1.0% Decrease in expense primarily due to decrease in enrollment. Instructional Materials $ 1,994,010 $ 1,974,342 $ (19,668) -1.0% Decrease in expense primarily due to decrease in enrollment. Computer, Peripherals, & Software $ 650,241 $ 585,007 $ (65,234) -1 The run rate for computers is lower than anticipated. ISP $ 17,708 $ 17,708 $ - Sales Tax $ - $ - $ - K12 Charges Other $ 5,807 $ 5,807 $ - Non-K12 Other $ 270,817 $ 271,317 $ % Total $ 6,624,826 $ 6,504,064 $ (120,761) -1.8% Student and Family Services Special Ed Contracted Svcs & Other Related Exp. $ 335,154 $ 331,900 $ (3,254) -1.0% Decrease in expense primarily due to decrease in enrollment. Field Trips $ 8,669 $ 8,669 $ - Hybrid Program $ - $ - $ - School Events $ 31,753 $ 31,753 $ - Annual School Reports $ - $ - $ - School Premiums $ - $ - $ - Non-K12 Other $ - $ - $ - Total $ 375,576 $ 372,322 $ (3,254) -0.9%

43 Nevada Virtual Academy Prior Forecast vs. Current Forecast Full Year Report FY Full Year Comparison-Budget Forecast 6+6 Forecast 7+5 Budget vs. Forecast Variance $ Budget vs. Forecast Variance % Comments School Administration & Governance Educational Services $ 2,185,053 $ 2,183,098 $ (1,955) -0.1% Oversight/Sponsor Fee $ 231,728 $ 231,521 $ (207) -0.1% Legal Services $ 54,420 $ 68,900 $ 14, % Legal expenses are higher than anticipated in the budget Payroll Services $ - $ - $ - Auditing - External $ 24,880 $ 24,880 $ - Board Development & Training $ 10,498 $ 10,498 $ - Administrator Travel $ 39,426 $ 39,426 $ - Administrator Phone $ - $ - $ - Admin Computer, Peripherals, & Software $ - $ - $ - Non-K12 Administrative Staff Salaries $ 799,981 $ 761,690 $ (38,291) -4.8% Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Non-K12 Administrative Staff Benefits $ 321,730 $ 284,564 $ (37,167) -11.6% Total Salary and Teacher FTE is the same from previous Forecast. Expenses are higher in Regular salaries than Part time and Non-K12 Admin. Non-K12 Administrative Staff Bonus $ - $ - $ - Consultants $ 20,000 $ 20,000 $ - Temporary employees $ 180 $ 180 $ - Non-K12 Other $ 3,000 $ 3,000 $ - Total $ 3,690,896 $ 3,627,756 $ (63,141) -1.7% Technology Technology Services $ 1,081,397 $ 1,080,429 $ (968) -0.1% Non-K12 Other $ - $ - $ - Total $ 1,081,397 $ 1,080,429 $ (968) -0.1% Insurance / Facilities / Other Rent $ 390,715 $ 390,715 $ - Maintenance/Repair Facility $ 87,337 $ 87,337 $ - Water & Electric $ 18,000 $ 18,000 $ - Telephone $ 80,000 $ 80,000 $ - Internet Connection $ 22,072 $ 22,072 $ - Conference calls $ 2,800 $ 2,800 $ - Copier / Fax Lease $ 28,900 $ 28,900 $ - Outside Copying $ - $ - $ - Office Postage and Shipping $ 38,374 $ 38,374 $ - Office supplies and equipment $ 255,801 $ 256,451 $ % Computer equip. & installation $ 33,748 $ 34,242 $ % General Liability Insurance $ 61,416 $ 61,416 $ - Bank fees $ 1,500 $ 1,500 $ - Depreciation $ 7,215 $ 7,215 $ - Non-K12 Other $ 22,933 $ 23,370 $ % Total $ 1,050,811 $ 1,052,392 $ 1, % Total School Expenditures This Period $ 21,501,260 $ 21,401,191 $ (100,069) -0.5% Surplus (Deficit) This Period $ (4,728,605) $ (4,807,361) $ (78,756) 1.7% Surplus from Prior Year $ 6,646,242 $ 6,646,242 $ - Net Positive Assets $ 1,920,128 $ 1,838,881 $ (81,247) -4.2%

44 Nevada Virtual Academy Restricted Funds Summary Report - Through January 31, 2016 FY Federal Restricted Fund Summary - Title I Account Classification Available * YTD Spend Remaining % Remaining Comments Instruction - Teachers $ 630,450 $ 166,243 $ 464,207 74% Title I Revenue is lower than prior year. Instruction - Students $ - $ - $ - - Student and Family Services $ - $ - $ - - School Administration & Governance $ - $ - $ - - Technology $ - $ - $ - - Insurance / Facilities / Other $ - $ - $ - - Total Federal Restricted Funds $ 630,450 $ 166,243 $ 464,207 74% Federal Restricted Fund Summary - Part B & C Account Classification Available ** YTD Spend Remaining % Remaining Comments Instruction - Teachers $ 268,600 $ 35,265 $ 233,334 87% Part B Revenue is based on the SPCSA Federal and State Awards. Instruction - Students $ - $ - $ - - Student and Family Services $ - $ - $ - - School Administration & Governance $ - $ - $ - - Technology $ - $ - $ - - Insurance / Facilities / Other $ - $ - $ - - Total State Restricted Funds $ 268,600 $ 35,265 $ 233,334 87%

45 Nevada Virtual Academy Balance Sheet FY Jun 30, 15 Jan 31, 16 Variance Comments ASSETS Current Assets Checking/Savings Wells Fargo Checking , , No changes on Reserve account Wells Fargo Operating ,331, ,077, , Balance is net of all deposits and expense checks issued for the last 7 months Wells Fargo Checking - ISP , , , Balance is net of ISP reimbursement checks issued for the last 7 months Wells Fargo Checking , , Petty cash account balance reflects net of checks issued for the last 7 months Total Checking/Savings 5,374, ,108, , Accounts Receivable Accounts Receivable 3,195, , ,111, A/R Balance is net of DSA deposits received. Total Accounts Receivable 3,195, , ,111, Other Current Assets Other Receivables 1, , Receivables for Marketing expenses Prepaid K12 Charges , , Amortize K12 Charges which include teacher and student curriculum and student computers Prepaid Expenses - Other 10, , , Amortize Insurance premiums and school equipment Total Other Current Assets 12, , , Total Current Assets 8,582, ,864, ,718, Fixed Assets Leasehold Improvements 28, , , Additional Leasehold Improvements due to new Sandhill Facility A/D - Leasehold Improvements -14, , , Accumulated Depreciation Computer Hardware 76, , Fully Depreciated Accum Depr - Computer Hardware -76, , Office Equipment 20, , Fully Depreciated Accum Depr - Office Equipment -20, , Total Fixed Assets 14, , , Other Assets Deposits 9, , , Security Deposit for Community Lutheran Church and Pebble Place I Total Other Assets 9, , , TOTAL ASSETS 8,606, ,004, ,601, LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 1,050, ,206, , K12 Invoices are scheduled for payment in February. Total Accounts Payable 1,050, ,206, , Other Current Liabilities Payroll Liabilities 697, , Prior year payroll liabilities were settled Accrued Expenses 145, ,004, , Payroll accruals for current month's 2nd payment Deferred Rent 3, , , Deferred rent for new Sandhill facility Retirement Payable 63, , , Issued payment to PERS Total Other Current Liabilities 909, ,113, , Total Current Liabilities 1,960, ,319, , Total Liabilities 1,960, ,319, , Equity 3900 Retained Earnings 2,082, ,646, ,563, Net Income 4,563, ,960, ,524, Total Equity 6,646, ,685, ,960, TOTAL LIABILITIES & EQUITY 8,606, ,004, ,601,522.53

46 Nevada Virtual Academy Simple Cash Flow by Month - Operating Account FY FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 FY 2016 Actual Actual Actual Actual Actual Actual Actual Forecast Forecast Forecast Forecast Forecast July August September October November December January February March April May June Beginning cash balance $ 5,331,612 $ 8,008,297 $ 7,896,189 $ 6,504,507 $ 5,297,758 $ 6,016,478 $ 6,845,587 $ 6,077,663 $ 5,029,674 $ 4,277,018 $ 3,524,518 $ 2,772,519 DSA Funding $ 3,425,416 $ 519,522 $ 1,807,003 $ 1,464,819 $ 1,522,134 $ 2,948,653 $ - $ 1,068,496 $ 1,068,496 $ 1,068,496 $ 1,068,496 $ 1,068,496 Grant Reimbursement $ 125,852 $ 257,431 $ - $ - $ 97,933 $ 38,820 $ 46,321 $ 66,538 $ 66,538 $ 66,538 $ 66,538 $ 66,538 Other Deposit $ 5,628 $ 4,668 $ 66 $ 8,199 $ 9,906 $ 9,101 $ 5,620 $ 8,500 $ 8,500 $ 8,500 $ 8,500 $ 8,500 Payments - non k12 $ (880,211) $ (893,730) $ (798,970) $ (938,026) $ (911,253) $ (862,373) $ (819,866) $ (996,401) $ (996,401) $ (996,345) $ (996,345) $ (1,990,329) Payments - k12 $ - $ (2,399,781) $ (1,741,741) $ - $ (1,305,092) $ - $ (1,195,122) $ (899,789) $ (899,689) $ (899,188) $ (923,780) Ending cash balance $ 8,008,297 $ 7,896,189 $ 6,504,507 $ 5,297,758 $ 6,016,478 $ 6,845,587 $ 6,077,663 $ 5,029,674 $ 4,277,018 $ 3,524,518 $ 2,772,519 $ 1,001,944

47 Company Confidential NVVA Board Presentation January 2016 Financials February 23,