TOTAL PROJECTED INCREASE IN REVENUE $ 1,052,000

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1 HIGHLIGHTS- BUDGET FY FISCAL YEAR VERSUS ESTIMATED FY INCREASE (DECREASE) REVENUE LOCAL CONTROL FUNDING FORMULA $ 1,500,000 FEDERAL REVENUE $ 144,000 OTHER STATE REVENUE $ (534,000) LOCAL REVENUE- EXCLUDES CONSTRUCTION $ (58,000) TOTAL PROJECTED INCREASE IN REVENUE $ 1,052,000 EXPENSES TEACHER WAGES INCLUDING RETENTION, EXTRA PAY AND STIPENDS $ 421,000 SCHOOL ADMINISTRATION $ 126,000 INSTRUCTIONAL AIDES & KECK PRE SCHOOL STAFF $ 164,000 FOOD SERVICE $ 50,000 OFFICE, BUSINESS SERVICES, IT STAFF AND MANAGERS $ 180,000 FACILITIES AND SECURITY $ 162,000 AFTER SCHOOL $ 24,000 INCREASE IN PAYROLL $ 1,127,000 EMPLOYEE BENEFITS- STRS, TAXES, HEALTH INSURANCE AND W/C INSURANCE $ 495,000 CLASSROOM TEXTBOOKS AND SUPPLIES $ 204,000 OTHER SUPPLIES $ 124,000 FOOD COST $ 38,000 TRAVEL & CONFERENCES $ 40,000 DUES & SUBSCRIPTIONS $ 31,000 INSURANCE $ 10,000 UTILITIES AND TRASH DISPOSAL $ 34,000 REPAIRS AND MAINTENANCE- INCLUDES CLEAN ENERGY EXPEDITURES $ 145,000 FACILITIES SERVICE AND MAINTENANCE CONTRACT $ 22,000 STUDENT ACTIVITIES $ 16,000 OUTSIDE CONSULTANTS $ 99,000 SUBSTITUES $ 27,000 SPECIAL EDUCATION INDIRECT PROGRAM COSTS $ (205,000) RENT $ 12,000 LAUSD ADM. FEES $ 34,000 OTHER $ 57,000 TOTAL OTHER EXPENSES $ 688,000 TOTAL ADDITIONAL EXPENSES $ 2,310,000 DECREASE IN PROJECTED BUDGET SURPLUS $ (1,258,000) ACCELERATEDBUDGETFY14-15-ORIGINAL 6/19/2014

2 Assumptions-FY The Accelerated Schools Budget Assumptions ALL TAS WAHS ACES Total Students 1, Attendance Rate 96% 96% 96% 96% Enrollment TK-K Enrollment Enrollment Enrollment ADA ADA % Breakdown by school 100% 48.39% 32.54% 19.07% Revenue Assumptions: Estimated increase in State general purpose funding 0.850% GP Entitlement (excl P. Tax & EPA, shown separately) FY FY INCREASE OVER FY FY COLA FEDERAL LCFF-TARGET TK-K-3 $ 5,112 5,192 $ 44 $ 5, % -2.75% $ 7, $ 5,193 5,274 $ 45 $ 5, % -2.75% $ 7, $ 5,349 5,433 $ 46 $ 5, % -2.75% $ 7, $ 6,190 6,287 $ 53 $ 6, % -2.75% $ 8,491 Categorical Block Grant $ 400 Replaced by LCFF Class size reduction (K-3)-TAS- 1,071 Replaced by LCFF Class size reduction (K-3)-ACES -MAX $1071 1,071 EIA $ 338 Replaced by LCFF Special Ed - AB Special Ed - IDEA Special Ed Fair Share Fee- Retained by LAUSD % OPTION 3 Special Ed Fair Share Fee- Retained by COP % OPTION 3 Property tax- Reduces General Purpose entitlement $ 1,675 Replaced by LCFF Education Protection Act-Reduces General Purpose $ Replaced by L 11.80% Breakfast cost per meal $ 1.00 Lunch cost per meal $ 1.55 Supper cost per meal $ 1.55 School days meals served 180 Percent of students receiving breakfast 56% Breakfast revenue reimbursement $ 1.92 Percent of students receiving lunch 82% Lunch & Supper revenue reimbursement $ 3.06 State Nutrition See schedule Lottery $ 126 Lottery Prop 20 $ 30 Mandated costs-k-8 $ 14 High school $ 42 Common Core Implementation-No allowance made $ - 2 years LCFF FACTOR 28.00% INDIRECT COST RATE 5.19% STRS 9.50% OASDI 6.20% MEDICARE 1.45% SUI + PENALTY ( % of claims) 0.40% W/C INSURANCE 2.70% TOTAL CERTICATED 14.05% TOTAL CLASSIFIED 10.75% ACCELERATEDBUDGETFY14-15-ORIGINAL 6/19/2014

3 Projected Operating Budget14-15 THE ACCELERATED SCHOOL OPERATING BUDGET TAS WAHS ACES Total Total Enrollment ADA 96% 96% 96% 96% Enrollment K Enrollment Enrollment Enrollment ADA Total ADA % 48.39% 32.54% 19.07% % REVENUES TAS WAHS ACES Total Object State Revenues Rate LOCAL CONTROL FUNDING 8015 General Purpose 1,962,222 1,721, ,823 4,440, Property Tax in Lieu Revenue 1,183, , ,318 2,445, Class Size Reduction (K-3 Only)-CTE (Gr 9-12) 219,556 29,378 69, , Economic Impact Aid- See revenue 371, , , , Categorical Block Grant 282, , , , Arts & Music Block Grant 11,034 5,512 2,856 19,402 Other State Revenues 42,156 18,734 5,912 66, Education Protection Act 619, , ,942 1,356, Supplemental Grant 289, , , , Concentration Grant 169, ,222 67, ,410 LCFF FACTOR ADJUSTMENT $ 274, , , ,684 TOTAL LOCAL CONTROL FUNDING REVENUE 5,425,248 4,032,415 2,132,036 11,589, % 84.3% 75.7% 71.6% Other State Revenues 8311 Special Education - AB , , , , State Lottery 92,780 60,143 35, , State Lottery Prop 20 22,090 14,320 8,366 44, State Nutrition 78,808 78, State Facilities Grant payments & SB , , ASES 124, , ,009 Other State Revenues 14,223 26,194 7,640 48,057 OTHER STATE REVENUE 720, , ,720 1,552, % 7.6% 16.7% 9.6% TOTAL STATE REVENUES 6,146,156 4,394,359 2,601,756 13,142, % 91.8% 92.4% 81.1% Federal Revenues 8291 Title I 297, , , , Title II - Teacher Quality & EETT 3,710 2, , Title III - LEP 29,430 6,902 8,282 44, Other Federal Revenue 43,104 2,000 45, Federal Nutrition Revenues 1,113,365 1,113, Special Ed - IDEA 127,968 86,068 50, ,458 TOTAL FEDERAL REVENUES 1,615, , ,226 2,081, % 6.1% 6.2% 12.9% Other Local Revenues 8634 Food sales 49,456 49, Interest Income 15,000 18,000 3,000 36, Grants & Donations- Outside 50,000 50,000 14, , Fundraising- School Activities 17,253 31,500 10,000 58, LA's Best-ASES paid 37,580 12,000 49, Keck Center-Pre School 399, , Wallis Annenberg share of debt service 265, ,488 Other - TOTAL OTHER LOCAL REVENUES 834,146 99,500 39, , % 2.1% 1.4% 6.0% TOTAL REVENUE 8,595,332 4,784,928 2,815,982 16,196, % 100.0% 100.0% 100.0% ACCELERATEDBUDGETFY14-15-ORIGINAL 3 6/19/2014

4 Projected Operating Budget14-15 EXPENDITURES TAS WAHS ACES Total PERSONNEL COSTS Certificated Salaries 1100 Teacher Salaries 1,554,676 1,377, ,844 3,609, Extra Pay/Stipends 88,229 70,527 48, , Principal/A/P/Deans 626, , ,402 1,098, Substitutes 118,500 48,000 15, ,500 TOTAL CERTIFICATED SALARIES 2,388,295 1,795, ,204 5,097, % 37.5% 32.4% 31.5% Classified Salaries 2100 Instructional Aides 72,810 70, , , Teachers, Co-Teachers -KECK 195, , Facilities/Maintenance & Security 295, , , , Food Services 344, , Classified Administrators 156, , Office & Business service managers/ assistants/information Technology 519, , ,351 1,085, Classified - ASES 81,036 90, , Other Classified - LA's Best-ASES paid 29,670 10,835 40, TOTAL CLASSIFIED SALARIES 1,537, , ,872 2,902, % 16.3% 20.8% 17.9% Employee Benefits STRS 9.50% 226, ,587 86, , FICA/OASDI 6.20% 95,334 48,341 36, , Medicare 1.45% 56,923 37,336 21, , Health & Welfare (incl, medical, dental, life, vision) 518, , ,388 1,129, SUI - unemployment 0.40% 15,691 10,309 6,006 32, Worker's Comp & Fees 2.70% 105,995 69,516 40, , Other Benefits - TOTAL EMPLOYEE BENEFITS 1,019, , ,586 2,157, % 14.9% 15.1% 13.3% TOTAL PERSONNEL COSTS 4,945,628 3,287,746 1,923,662 10,157, % 68.7% 68.3% 62.7% ACCELERATEDBUDGETFY14-15-ORIGINAL 4 6/19/2014

5 Projected Operating Budget14-15 OTHER COSTS TAS WAHS ACES Total Books & Supplies 4110 Textbooks 49,848 42,335 40, , Professional & other Books 23,824 9,253 9,753 42, Instructional Materials 118,061 79,225 80, , Technology Supplies 21,000 8,500 6,046 35, Office Supplies 17,340 6,500 4,500 28, /4 Janitorial & Cafeteria Supplies - Nutrition Services 63,648 63, Maintenance & Janitorial supplies 31,998 22,000 7,348 61, Other Supplies 94,412 46,356 17, , Non Capitalized Equip 42,500 50,000 15, , Athletics Supplies - High School only Food cost 583, ,665 TOTAL BOOKS & SUPPLIES 1,046, , ,807 1,492, % 5.5% 6.5% 9.2% Other Operating Expenses 5220 Travel & Conferences 35,500 32,500 30,785 98, Dues & Memberships 54,273 30,978 16, , Insurance 53,062 34,520 17, , & Utilities and waste disposal 205, ,152 24, , Facilities Leases 265, , , Repairs & Maintenance 149,369 97,531 20, , Facilities Service and Maintenance Contracts 67,709 38,137 10, , LACOE Software and Support Contract - Accounting Software 18,000 10,500 8,953 37, Field Trips/Student Activities 21,500 56,652 17,000 95, Legal and Audit Fees 55,004 43,504 20, , Outside Consultants 373, ,775 84, , Substitutes 34,501 28,501 20,000 83, Indirect Program Costs - SpEd Fair Share- LAUSD 103,297 69,464 40, , Telephone and internet services 49,560-2,251 51, /5 Other expenses 26,509 11,392 7,051 44,952 TOTAL OTHER OPERATING EXPENSES 1,247,747 1,036, ,265 2,809, % 21.7% 18.7% 17.3% Other 6400 Capital Outlay- Equipment 39,500 39, Interest on LAUSD Loan 194, , Indirect Program Costs LAUSD Admin fees (1% of revenue) 60,796 44,080 23, , Depreciation 977, ,476 TOTAL OTHER EXPENSES 1,272,164 44,080 23,853 1,340, % 0.9% 0.8% 8.3% TOTAL EXPENSES 8,511,835 4,632,089 2,654,587 15,798, % 96.81% 94.27% 97.54% NET REVENUE OVER (UNDER) EXPENSE 83, , , , % 3.19% 5.73% 2.46% Adjustments Loan payment - Principal (465,839) (465,839) Capitalized Equipment - - Depreciation 977, ,476 CASH FLOW - FISCAL YEAR , , , ,368 % CASH FLOW VERSUS REVENUE (Excludes interschool rent) 7.14% 3.19% 5.73% 5.71% Beginning Cash - 7/1/14 (Excludes construction funds) 3,875,000 3,720, ,000 8,415,000 Receivables 815, , ,000 1,680,000 Accrued payroll and expenses (538,000) (200,000) (203,000) (941,000) Adjusted cash - 7/1/14 4,152,000 4,045, ,000 9,154,000 Ending Cash 6/30/15 4,747,134 4,197,839 1,118,395 10,063,368 Receivables (249,604) (64,435) (86,715) (400,754) Accrued payroll and expenses 360, ,100 87, ,450 Adjusted cash - 7/1/15 4,857,854 4,306,504 1,118,705 10,283,064 Adjustments/Restrictions: Reserves (% of Expenditures)-Excludes depreciation 5% (376,718) (231,604) (132,729) (741,052) Reserves - Prior (1,338,275) (790,483) (408,609) (2,537,367) Facilities / Replacement Reserves (20% of yearly Depreciation) (977,476) (195,495) (63,623) (37,274) (296,392) Capital reserves- Prior (588,817) (188,088) (110,874) (887,779) Employees' accrued vacation and personal days (170,507) (31,287) (60,688) (262,482) Debt Service Reserves-1 Year (392,713) (265,488) - (658,201) Total reserves 3,062,525 1,570, ,174 5,383,273 Projected Unrestricted Cash - 6/30/15 1,684,609 2,627, ,221 4,680,095 ACCELERATEDBUDGETFY14-15-ORIGINAL 5 6/19/2014

6 ENROLLMENT BY GRADE-FY GRADE LEVELS TAS WAHS ACES TOTAL ACES GRADE LEVELS TAS WAHS ACES TOTAL PRE SCHOOL TK K TOTAL K FY AT P INCREASE ACCELERATEDBUDGETFY14-15-ORIGINAL 6/19/2014

7 CASH FLOW-ACES CONST ACCELERATED CHARTER ELEMENTARY SCHOOL CASH FLOW CONSTRUCTION PROJECT TOTAL Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 TOTAL ACCRUAL TOTAL BEGINNING CASH- 7/1/14-Construction $ 530,000 $ 530,000 $ 499,300 $ 476,142 $ 418,188 $ 99,669 $ (43,920) $ (903,784) $ 13,060,126 $ 11,995,291 $ 10,740,457 $ 9,751,100 $ 8,526,144 $ 530,000 $ 530,000 REVENUES State Revenues Other State Revenues Other State Revenues-Proposition 55 15,691,044 $ - $ - $ - $ - $ - $ - $ 15,691,044 $ - $ - $ - $ - $ - $ 15,691,044 $ - $ 15,691,044 15,691, ,691, ,691,044-15,691,044 TOTAL STATE REVENUES 15,691, ,691, ,691,044-15,691,044 Other Local Revenues Interest Income 30,000 $ 300 $ 225 $ 225 $ 150 $ 75 $ 75 $ 600 $ 600 $ 600 $ 600 $ 15,000 $ 600 $ 19,050 $ 10,950 $ 30,000 Construction-Fundraising 1,000,000 $ - $ - $ - $ - $ - $ - $ - $ 250,000 $ - $ 250,000 $ - $ 500,000 $ 1,000,000 $ - $ 1,000,000 TOTAL OTHER LOCAL REVENUES 1,030, , ,600 15, ,600 1,019,050 10,950 1,030,000 TOTAL REVENUE 16,721, ,691, , ,600 15, ,600 16,710,094 10,950 16,721,044 EXPENDITURES $ - EXCESS OF REVENUE OVER (UNDER) EXPENSE 16,721, ,691, , ,600 15, ,600 16,710,094 10,950 16,721,044 OTHER INFLOWS (OUTFLOWS) COGSTONE 12,656 $ - $ 633 $ 4,430 $ 4,430 $ 3,164 $ - $ - $ - $ - $ - $ - $ - $ 12,656 $ - $ 12,656 HAZARDOUS WASTE REMOVAL 45,000 $ - $ - $ - $ - $ - $ - $ 45,000 $ - $ - $ - $ - $ - $ 45,000 $ - $ 45,000 GKK-$400, ,000 $ - $ 5,000 $ 25,000 $ 50,000 $ 50,000 $ 50,000 $ 70,000 $ - $ - $ - $ - $ - $ 250,000 $ - $ 250,000 DSA 35,000 $ - $ - $ - $ - $ - $ - $ - $ 17,500 $ - $ - $ - $ 17,500 $ 35,000 $ - $ 35,000 SCHOOL FACILITY 15,000 $ - $ 750 $ 2,250 $ 6,000 $ 3,000 $ 1,500 $ 1,500 $ - $ - $ - $ - $ - $ 15,000 $ - $ 15,000 EEI 33,678 $ - $ - $ - $ 16,839 $ - $ 16,839 $ - $ - $ - $ - $ - $ - $ 33,678 $ - $ 33,678 BUILDER'S RISK- BUILDER'S RISK 60,000 $ - $ - $ - $ - $ 60,000 $ - $ - $ - $ - $ - $ - $ - $ 60,000 $ - $ 60,000 INFINITY 25,000 $ - $ - $ - $ - $ - $ - $ - $ - $ 25,000 $ - $ - $ - $ 25,000 $ - $ 25,000 LADWP 135,000 $ - $ - $ - $ - $ - $ - $ - $ 67,500 $ - $ - $ - $ 67,500 $ 135,000 $ - $ 135,000 CITADEL 24,845 $ - $ - $ - $ - $ - $ - $ 4,969 $ 4,969 $ 4,969 $ 4,969 $ 4,969 $ - $ 24,845 $ - $ 24,845 SMITH EMERY 190,437 $ - $ - $ - $ - $ - $ - $ 28,566 $ 28,566 $ 28,566 $ 38,087 $ 38,087 $ 28,566 $ 190,437 $ - $ 190,437 DUNN- MCELWEE 90,000 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 7,500 $ 90,000 $ - $ 90,000 GAFCON-$700, % 350,000 $ 10,500 $ 3,500 $ 7,000 $ 31,500 $ 14,000 $ 14,000 $ 38,500 $ 38,500 $ 38,500 $ 38,500 $ 38,500 $ 38,500 $ 311,500 $ 38,500 $ 350,000 PARKING S. MAIN 10,500 $ - $ - $ - $ - $ - $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 10,500 $ - $ 10,500 PARKING- OTHER 49,000 $ - $ - $ - $ - $ - $ 7,000 $ 7,000 $ 7,000 $ 7,000 $ 7,000 $ 7,000 $ 7,000 $ 49,000 $ - $ 49,000 ATTORNEYS 40,000 $ 4,000 $ 6,000 $ 12,000 $ 12,000 $ 6,000 $ - $ - $ - $ - $ - $ - $ - $ 40,000 $ - $ 40,000 CONSTRUCTION-$23,800,000-6 MONTHS/18 MONTH PROJECT- EST 40% 9,520,000 $ - $ - $ - $ 190,400 $ - $ 761,600 $ 1,523,200 $ 1,142,400 $ 1,142,400 $ 1,142,400 $ 1,142,400 $ 1,142,400 $ 8,187,200 $ 1,332,800 $ 9,520,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - TOTAL CAPITALIZED EXPENDITURES 10,886,116 $ 22,000 $ 23,383 $ 58,180 $ 318,669 $ 143,664 $ 859,939 $ 1,727,735 $ 1,315,435 $ 1,255,435 $ 1,239,956 $ 1,239,956 $ 1,310,466 $ 9,514,816 $ 1,371,300 $ 10,886,116 EXCESS OF REVENUE OVER (UNDER) CAPITALIZED EXPENDITURES 5,834,928 (21,700) (23,158) (57,955) (318,519) (143,589) (859,864) 13,963,909 (1,064,835) (1,254,835) (989,356) (1,224,956) (809,866) 7,195,278 (1,360,350) 5,834,928 NET CHANGE IN PRIOR ACCRUALS Accounts Receivable and other assets - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Accounts Payable and accrued payroll and expenses (9,000) $ (9,000) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ (9,000) $ - $ (9,000) Total Change in Prior Accruals (9,000) (9,000) (9,000) - (9,000) NET CHANGE IN CASH 5,825,928 (30,700) (23,158) (57,955) (318,519) (143,589) (859,864) 13,963,909 (1,064,835) (1,254,835) (989,356) (1,224,956) (809,866) 7,186,278 (1,360,350) 5,825,928 ENDING CASH 6/30/15 6,355, , , ,188 99,669 (43,920) (903,784) 13,060,126 11,995,291 10,740,457 9,751,100 8,526,144 7,716,278 7,716,278 (1,360,350) 6,355,928 ADDITIONAL FUNDING LAUSD AUGUMENTATION GRANT 5,000,000 FUNDRAISING-ADDITIONAL 275,000 TOTAL AVAILABLE 11,630,928 ADDITIONAL EXPENDITURES GAFCON (350,000) OTHER (425,569) CONSTRUCTION (14,280,000) EQUIPMENT (1,015,000) CONTINGENCIES (2,640,213) TOTAL ADDITIONAL EXPENDITURES (18,710,782) DEFICIT WITHOUT ADDITIONAL FUNDS (7,079,854) ESTIMATED WORK IN PROCESS 6/30/14 6,645,000 TOTAL PROJECTED ADDITIONAL COSTS 29,596,898 TOTAL PROJECTED COSTS 36,241,898 ACCELERATEDBUDGETFY14-15-ORIGINAL 7 6/19/2014