Citizens of the World - Los Angeles - Financial Dashboard (March 2014)

Transcription

1 Citizens of the World - Los Angeles - Financial Dashboard (March 2014) ADA & Enrollment P1: P2: Actual ADA ADA Average ADA Enrollment KEY POINTS At the end of Month 7 Reporting (LAUSD), student enrollment was 784, 6 higher than budget (+1-HW, -4-SL, +9-MV). Given the enrollment to date and actual attendance rates, P2 ADA is 19.1 fewer than budget. ADA rate was 94.7%. CWC LA net income is projected to be $347K, $143K more than budget. In comparison to prior month forecast, projected net income has increased by $1K. Items to note: prior year adjustments for In-Lieu of Property Taxes and General Purpose - Prior Year offset each other. All schools are projected to have a positive net income: CWC HW is $42K, CWC SL is $35K, CWC MV is $236K, and CWC RSO is $34K. CWC HW and CWC SL projected net incomes are below budget. Cash is projected to be positive throughout the year and is projected to end the year at $532K. As of 03/31, total debt outstanding is $1,340K with principal repayments of $152K scheduled before year-end. assumes an additional $397K will be fundraised (39% of total). Average ADA INCOME STATEMENT Actual Key Performance Indicators ADA Analysis Category Actual ed ed Better/ Prior Year through P2 P2 (Worse) P2 Month 7 ADA vs. 719 Cash on Hand 62 Enrollment Net Income / (Loss) 346,791 Year End Cash 531,793 ADA % 94.7% 94.7% 94.9% -0.2% 93.8% 9,654 Revenue & Expenses per ADA 8,351 9,377 10,434 8,758 9,951 Revenue Revenue w/o Fundraising Expenses Variance B/(W) % of Full Year % of Variance B/(W) Principal Apportionment 2,651,781 1,699, ,639 4,488,901 60% 3,840,206 54% 648,695 Federal Revenue 634, , , ,431 11% 754,453 11% 42,977 State Revenue 492, , , ,229 9% 1,266,964 18% (590,734) Other Local Revenue 265, ,308 76, ,318 4% 303,169 4% 32,148 Grants/Fundraising/PYA 634, , ,729 1,205,261 16% 961,770 13% 243,491 TOTAL REVENUE 4,678,071 2,777,046 1,901,025 7,503, % 7,126, % 376,577 Certificated Salaries 1,992,708 1,747,825 (244,883) 2,753,256 38% 2,785,701 40% 32,445 Classified Salaries 904, ,229 (87,280) 1,250,585 17% 1,288,053 19% 37,468 Benefits 604, ,508 (93,631) 777,111 11% 766,248 11% (10,863) Student Supplies 317, ,405 38, ,922 7% 490,142 7% (18,779) Operating Expenses 1,227, ,681 (261,919) 1,796,432 25% 1,533,562 22% (262,870) Other 43,461 (27,663) (71,124) 70,043 1% 58,817 1% (11,226) TOTAL EXPENSES 5,089,903 4,369,985 (719,918) 7,156, % 6,922, % (233,825) INCOME / (LOSS) (411,832) (1,592,939) 1,181, , , ,752 ($1,000s) $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $- Cash Balance Actual and Projected Cash (Approved) Y/E CASH BALANCE Projected Variance 531, , ,003 Balance Sheet 2/28/2014 3/31/2014 6/30/2014 Assets Cash 1,328,559 1,202, ,793 Accounts Receivable 4, ,370,915 Due From Others 15,466 20,277 0 Other Assets 18,484 18,484 47,397 Net Fixed Assets 91,282 95,604 88,662 Assets 1,457,979 1,336,737 2,038,767 Liabilities A/P & Payroll (5,344) (12,379) 66,682 Due to Others 8,531 6,881 0 Deferred Revenue ,726 Debt 1,339,999 1,339,999 1,187,500 Liabilities 1,343,186 1,334,501 1,277,908 Equity Beginning Fund Balance 414, , ,069 Net Income/(Loss) (299,276) (411,832) 346,791 Equity 114,793 2, ,860 Liabilities & Equity 1,457,979 1,336,737 2,038,767 Available Line of Credit Days Cash on Hand (>45 days) Notes 1

2 Citizens of the World - Los Angeles Financial Analysis March 2014 Board Attention Through the end of March, total fundraising revenue was $627K which represents approximately $799 per student and 61% of the projected fundraising revenue of $1,024K. The projected fundraising revenue assumes an additional $397K will be raised or approximately $506 per student. Net Income Citizens of the World - Los Angeles is projected to achieve a net income of $347K in FY13-14 compared to $204K in the board approved budget. Reasons for this positive $143K variance are explained below in the Income Statement section of this analysis. Balance Sheet As of March 31, 2014, the organization s cash balance was $1,202K. By June 30, 2014, the organization s cash balance is projected to be $532K. As of March 31, 2014, the Accounts Receivable balance was $0K, a decrease of $4K from the prior month. As of March 31, 2014, the Accounts Payable balance, including payroll liabilities, totaled $-12K, as there was $-18K of credit card payable and $6K of accounts payable. As of March 31, 2014, CWC LA had a debt balance of $1,340K compared to $1,340K in the prior month. CWC LA is scheduled to make principal payments of $152K by the end of the fiscal year. Income Statement Revenue revenue for FY13-14 is projected to be $7,503K, which is $377K or 5% over (i.e., better than) budgeted revenue of $7,127K. The variance is explained by the following: LCFF and Common Core Funding (Revenue Limit, Categorical Block Gant, and Other State Revenue) is over budget by $326K due to higher funding under LCFF (principally for CWC MV) and recognition of additional Common Core revenue, but offset by lower than budgeted ADA Charter Schools General Purpose - Prior Year is under budget by $-131K due to increase in in-lieu of properties which were offset by a decrease in general purpose revenue. See Prior Year Adjustments Special Ed - AB602 is under budget by $-21K due to a decrease in funding rates and lower ADA. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $20,000 and 10%. 2

3 SB740 is under budget by $-110K due to changes in and SB 740 funding Food Service Sales is under budget by $-30K due to lower enrollment, lower participation rates, and uncollected revenue All Other Local Revenue is over budget by $62K due to higher revenue at CWC HW reflecting actual participation rates and higher Trimester #1 and Trimester #2 enrichment revenue and a new ASP program at CWC MV Fundraising is over budget by $65K due to higher fundraising projection at CWC HW (+$4K), CWC MV (+4K), and CWC SL (+$56K). CWC SL projection reflects Walk-a-thon receipts exceeding goal and expectation to reach goal for Silent Auction Prior Year Adjustment is over budget by $171K due to an increase in inlieu of property taxes; deposits made at CWC SL, CWC MV, and CWC HW related to fundraising, food sales, and gym rental activity from FY ; and adjustments to state lottery revenue and Title III. Expenses expenses for FY13-14 are projected to be $7,156K, which is $234K or 3% over (i.e., worse than) budgeted expenditures of $6,923K. The variance is explained by the following: Teachers' Salaries is under budget by $-21K due to staff changes at CWC HW, but offset by Teacher Salaries Substitute is over budget by $19K due to staff changes at CWC HW Stipends/Extra Duty is under budget by $-25K due to the elimination of budgeted stipend positions at CWC HW, CWC SL, and CWC MV Instructional Aide Salaries is under budget by $-13K due to higher expenses at CWC HW and CWC MV where additional staff have been added to provide services, but offset by lower expenses at CWC SL where Teaching Assistants are working fewer hours than budgeted Classified Supervisor and Administrator Salaries is under budget by $-64K as CWC RSO Development Manager will not begin until FY Clerical/Technical/Office Staff Salaries is over budget by $22K due higher expenses at CWC HW, CWC SL, and CWC RSO Other Classified Salaries (After School Program) is over budget by $36K due to new after-school program at CWC MV Health & Welfare is under budget by $-39K due to lower benefit costs at CWC HW and CWC MV Workers' Compensation is over budget by $54K due to higher rates than budgeted and an adjustment to reflect additional charges from the annual audit Non Capitalized Equipment is over budget by $23K due to CWC MV technology expenditures to meet Common Core requirements and needs of opening school Food and Food Supplies is under budget by $-25K due to lower expenses at all school sites due to lower participation and fewer students Legal/Audit Fees is over budget by $29K to reflect higher legal expenses at CWC SL. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $20,000 and 10%. 3

4 Instructional Consultants is over budget by $200K due to higher special education expenses at all three schools and addition of summer program and ASP program at CWC MV Fundraising Cost is over budget by $21K due to higher fundraising costs at CWC HW and CWC SL. ADA ed average ADA for FY13-14 is based on an enrollment of 778 and a 94.9% attendance rate. The forecast assumes an ADA of based on an enrollment of 784 and a 94.7% attendance rate. In Month 7, ADA was with 784 students enrolled at the end of the reporting month and a 94.6% ADA rate. Average ADA for the year (through Month 7) is (with 94.7% ADA rate for the year to date). This report will discuss revenue and expenditure variances from the Board-approved budget that are above $20,000 and 10%. 4

5 Citizens of the World Hollywood - Financial Dashboard ( March 2014) ADA & Enrollment KEY POINTS P1: P2: Student enrollment at the end of Month 7 Reporting (LAUSD) was 337 which is one student over budget. Average Daily Attendance (ADA) is 95.7%, 0.1% better than budget. Net income is projected to be $46K, $43K less than budget. In comparison to the prior month forecast, projected net income has decreased$2k. Items to note: prior year adjustments for In-Lieu of Property Taxes and General Purpose - Prior Year offset each other. Cash is projected to be positive throughout the year and will end the year at $110K. assumes an additional $173K will be fundraised (39% of the total). Actual ADA Average ADA ADA Enrollment Category 318 Cash on Hand 31 Enrollment Net Income / (Loss) 42,269 Year End Cash 110,391 ADA % Average ADA 9,314 Actual through Month 7 ADA Analysis ed P2 ed P2 Better/ (Worse) Prior Year P2 95.7% 95.7% 95.6% 0.1% 95.6% Revenue & Expenses per ADA 7,933 9,047 9,686 8,279 9,553 Revenue Revenue w/o Fundraising Expenses INCOME STATEMENT ADA vs. Actual Key Performance Indicators Variance B/(W) % of Full Year % of Variance B/(W) Principal Apportionment 1,211, , ,823 1,856,690 60% 1,673,181 56% 183,509 Federal Revenue 153,935 52, , ,163 5% 132,564 4% 11,599 State Revenue 201, ,453 (37,479) 282,417 9% 492,830 16% (210,413) Other Local Revenue/PYA 197, ,244 28, ,942 11% 249,473 8% 97,469 Grants/Fundraising 274, ,944 5, ,187 15% 443,520 15% 3,667 TOTAL REVENUE 2,040,008 1,718, ,923 3,077, % 2,991, % 85,830 Certificated Salaries 843, ,658 (8,183) 1,155,969 38% 1,162,446 40% 6,477 Classified Salaries 409, ,777 (20,650) 566,565 19% 539,965 19% (26,600) Benefits 266, ,093 (23,161) 341,865 11% 326,531 11% (15,334) Student Supplies 109, ,253 22, ,605 5% 171,052 6% 11,447 Operating Expenses 387, ,662 (72,850) 549,960 18% 427,246 15% (122,715) Other 197, ,040 8, ,167 9% 278,782 10% 17,616 TOTAL EXPENSES 2,214,415 2,120,483 (93,932) 3,035, % 2,906, % (129,108) INCOME / (LOSS) (174,407) (402,398) 227,991 42,269 85,546 (43,278) ($1,000s) $400 $350 $300 $250 $200 $150 $100 $50 $- Cash Balance Actual and Projected Cash (Approved) Y/E CASH BALANCE Projected Variance 110,391 17,535 92,855 Balance Sheet 2/28/2014 3/31/2014 6/30/2014 Assets Cash 272, , ,391 Accounts Receivable ,512 Due From Others Other Assets Net Fixed Assets Assets 273, , ,847 Liabilities A/P & Payroll 5, ,564 Due to Others 2,908 2,383 0 Deferred Revenue Debt Liabilities 8,490 2,839 23,564 Equity Beginning Fund Balance 432, , ,014 Net Income/(Loss) (167,143) (174,407) 42,269 Equity 264, , ,283 Liabilities & Equity 273, , ,847 Available Line of Credit Days Cash on Hand (>45 days) Notes 5

6 Net Income Citizens of the World Hollywood Financial Analysis March 2014 Citizens of the World Hollywood is projected to achieve a net income of $42K in FY13-14 compared to $86K in the board approved budget. Reasons for this negative $-43K variance are explained below in the Income Statement section of this analysis. Balance Sheet As of March 31, 2014, the school s cash balance was $259K. By June 30, 2014, the school s cash balance is projected to be $110K. As of March 31, 2014, the Accounts Receivable balance was $0K, down from $15K in the previous month. As of March 31, 2014, the Accounts Payable balance, including payroll liabilities, totaled $0K, compared to $6K in the prior month. As of March 31, 2014, CWC HW had a debt balance of $0K compared to $0K in the prior month. Income Statement Revenue revenue for FY13-14 is projected to be $3,077K, which is $86K or 3% over budgeted revenue of $2,992K. The variance is explained by the following: LCFF and Common Core Funding (Revenue Limit, Categorical Block Gant, and Other State Revenue) is over budget by $51K due to higher per ADA funding due to LCFF and higher recognition of Common Core revenue offset by lower ADA Charter Schools General Purpose Prior Year is under budget by $-69K due to higher in-lieu of property taxes (see 8999 Prior Year Adjustment) which was offset by decrease in general purpose revenue All Other Local Revenue is over budget by $22K due to higher enrichment revenue assumptions due to year-to-date performance and higher regular ASP participation Prior Year Adjustment is over budget by $83K due to higher in-lieu of property taxes (see 8019 Charter Schools General Purpose Prior Year) and recognition of fundraising revenue. Expenses expenses for FY13-14 are projected to be $3,035K, which is $129K or 4% over budgeted expenditures of $2,906K. The variance is explained by the following: Teachers' Salaries is under budget by $-29K due to staff changes. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $12,000 and 10%. 6

7 1170 Teacher Salaries Substitute is over budget by $28K due to staff changes Instructional Aide Salaries is over budget by $16K due to additional services Clerical/Technical/Office Staff Salaries is over budget by $10K due to higher wages and hours Health & Welfare is under budget by $-11K due to staff changes and actual benefit selections Workers' Compensation is over budget by $24K due to higher rates and an adjustment to reflect additional charges from the annual audit Approved Textbooks and Core Curriculum Materials is under budget by $-16K due to reduced expenditures Food and Food Supplies is under budget by $-9K due to lower enrollment Rent is under budget by $-26K to reflect actual Prop. 39 lease expenses Instructional Consultants is over budget by $129K due to an increase in special education services and increased instructional consultants offering enrichment courses in the after-school program Fundraising Cost is over budget by $15K due to SCRIP Fees Indirect Costs is under budget by $-19K due to some budgeted RSO expenses being charged directly to the each school and a reduction in projected RSO expenses. ADA ed average ADA for FY13-14 is based on an enrollment of 336 and a 95.6% attendance rate. The forecast assumes an ADA of based on an enrollment of 337 and a 95.7% attendance rate. In Month 7, ADA was with 337 students enrolled at the end of the month and a 95.3% ADA rate. Average ADA for the year (through Month 7) is (a 95.7% ADA rate for the year to date). Note, month 1 attendance data is expected to be revised. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $12,000 and 10%. 7

8 Citizens of the World Silverlake - Financial Dashboard (March 2014) ADA & Enrollment P1: P2: Actual ADA ADA Average ADA Enrollment KEY POINTS Student enrollment at the end of Month7 Reporting (LAUSD) was 284, four fewer students than budget. Average Daily Attendance (ADA) percentage was 93.7%, 0.3% worse than budget. Net income is projected to be $35K, $43K less than budget. In comparison to prior month forecast, net income has decreased $14K due to various small changes but primarily due to additional facility expenses. Items to note: prior year adjustments for In-Lieu of Perperty Taxes and General Purpose-Prior Year Offset each other. Cash is projected to be positive throughout the year and is projected to end the year at $76K. additional decrease in assumes an additional $160K will be fundrasied (41% of the total). Category 263 Cash on Hand 47 Enrollment Net Income / (Loss) 34,507 Year End Cash 76,565 ADA % Average ADA 10,046 Actual through Month 7 ADA Analysis ed P2 ed P2 Better/ (Worse) Prior Year P2 93.7% 93.7% 94.0% -0.3% 91.9% Revenue & Expenses per ADA 10,320 8,814 8,837 9,758 10,189 Revenue Revenue w/o Fundraising Expenses INCOME STATEMENT ADA vs. Actual Key Performance Indicators Variance B/(W) % of Full Year % of Variance B/(W) Principal Apportionment 988, , ,658 1,553,801 57% 1,407,435 52% 146,366 Federal Revenue 263,156 (10,700) 273, ,662 14% 378,461 14% (9,799) State Revenue 248,157 (63,408) 311, ,310 11% 566,946 21% (272,636) Other Local Revenue/PYA 39,522 6,827 32, ,023 4% 33,378 1% 75,645 Grants/Fundraising 227,833 62, , ,273 14% 333,450 12% 56,823 TOTAL REVENUE 1,767, ,936 1,558,704 2,716, % 2,719, % (3,601) Certificated Salaries 668, ,933 (258,579) 923,560 34% 931,391 35% 7,831 Classified Salaries 263, ,632 (88,845) 355,437 13% 400,870 15% 45,434 Benefits 201, ,790 (89,468) 251,292 9% 229,134 9% (22,158) Student Supplies 104, ,927 16, ,311 7% 196,943 7% 10,632 Operating Expenses 511, ,284 (220,115) 724,318 27% 633,876 24% (90,442) Other 180, ,349 (61,334) 240,644 9% 249,551 9% 8,906 TOTAL EXPENSES 1,930,088 1,227,915 (702,173) 2,681, % 2,641, % (39,797) INCOME / (LOSS) (162,448) (1,018,979) 856,531 34,507 77,905 (43,398) ($1,000s) $600 $500 $400 $300 $200 $100 $- $(100) $(200) Cash Balance Actual and Projected Cash (Approved) Y/E CASH BALANCE Projected Variance 76,565 57,047 19,517 Balance Sheet 2/28/2014 3/31/2014 6/30/2014 Assets Cash 413, ,763 76,565 Accounts Receivable 3, ,858 Due From Others 7,313 8,386 0 Other Assets 17,502 17,502 40,702 Net Fixed Assets 85,742 90,172 83,554 Assets 527, , ,678 Liabilities A/P & Payroll (2,462) (1,006) 24,662 Due to Others 5,623 4,498 0 Deferred Revenue ,726 Debt 639, , ,000 Liabilities 643, , ,388 Equity Beginning Fund Balance (23,218) (23,218) (23,218) Net Income/(Loss) (92,125) (162,449) 34,507 Equity (115,343) (185,667) 11,289 Liabilities & Equity 527, , ,678 Available Line of Credit Days Cash on Hand (>45 days) Notes 8

9 School Attention Citizens of the World Silverlake Financial Analysis March 2014 CWC Silverlake is projected to have a net income of $35K for FY which is $-43K under budget. Furthermore, the projected net income assumes $160K will be fundraised between April and June. The school should limit expenditures in case fundraising projections are not met. Net Income Citizens of the World Silverlake is projected to achieve a net income of $35K in FY13-14 compared to $78K in the board approved budget. Reasons for this negative $-43K variance are explained below in the Income Statement section of this analysis. Balance Sheet As of March 31, 2014, the school s cash balance was $342K. By June 30, 2014, the school s cash balance is projected to be $77K. As of March 31, 2014, the Accounts Receivable balance was $0K, down from $4K in the previous month. As of March 31, 2014, the Accounts Payable balance, including payroll liabilities, totaled $-1K, compared to $-2K in the prior month. As of March 31, 2014, CWC SL had a debt balance of $640K compared to $640K in the prior month. Income Statement Revenue revenue for FY13-14 is projected to be $2,716K, which is $-4K or 0% under budgeted revenue of $2,720K. The variance is explained by the following: LCFF and Common Core Funding (Revenue Limit, Categorical Block Gant, and Other State Revenue) is over budget by $57K due to higher funding under LCFF and Common Core funding but offset by lower ADA Charter Schools General Purpose Prior Year is under budget by $-63K due to higher in-lieu of property taxes (see 8999 Prior Year Adjustment) which was offset by decrease in general purpose revenue Title V, B Charter Schools Grants is under budget by $-21K due to more conservative estimate of expenditures to be charged to grant SB740 is under budget by $-110K due to changes in what ADA is allowed for in the funding calculation (i.e., minimum of 75% of lease expense or $750 per ADA). In prior years, a school s total ADA was used in the funding calculation but this year only the ADA associated with the site claiming SB 740 is to be used. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $12,000 and 10%. 9

10 8699 Fundraising is over budget by $57K due to Walk-a-thon receipts exceeding goal, higher expectations for annual giving, and expectation to reach goal for Auction Prior Year Adjustment is over budget by $82K due to higher in-lieu of property taxes (see 8019 Charter Schools General Purpose Prior Year) and deposits related fundraising, food sales, and gym rental. Furthermore, there were adjustments in state lottery revenue. Expenses expenses for FY13-14 are projected to be $2,682K, which is $40K or 2% over budgeted expenditures of $2,642K. The variance is explained by the following: Instructional Aide Salaries is under budget by $-38K due to Teaching Assistants working fewer hours Classified Support Salaries is under budget by $-16K due to fewer hours for food maintenance and staff custodian has not been hired Workers' Compensation is over budget by $19K due to actual rates being higher than budgeted and an adjustment to reflect additional charges from the annual audit Food and Food Supplies is under budget by $-8K due to lower student participation rates Rent is over budget by $22K due to leasing additional rooms at Grant Elementary to offset inability to use all classrooms at the Assistance League. The variance also reflects actual Prop. 39 lease expenses and parking expenses at the Assistance League Legal/Audit Fees is over budget by $27K due to higher legal expenses Instructional Consultants is over budget by $21K due to higher special education expenses Indirect Costs is under budget by $-16K due to some budgeted RSO expenses being charged directly to the each school and a reduction in projected RSO expenses. ADA ed average ADA for FY13-14 is based on an enrollment of 288 and a 94.0% attendance rate. The forecast assumes an ADA of based on an enrollment of 284 and a 93.7% attendance rate. In Month 7, ADA was with 284 students enrolled at the end of the month and a 94.2% ADA rate. Average ADA for the year (through Month 7) is (a 93.7% ADA rate for the year to date). This report will discuss revenue and expenditure variances from the Board-approved budget that are above $12,000 and 10%. 10

11 Citizens of the World Mar Vista - Financial Dashboard ( March 2014) ADA & Enrollment KEY POINTS P1: P2: Student enrollment at the end of Month 7 Reporting (LAUSD) was163, nine more students than budget. Average Daily Attendance (ADA) percentage was 94.3%, 0.7% less than budget. Net income is projected to be $236K, $196K more than budget. In comparison to prior month forecast, net income is flat. Cash is projected to be positive throughout the year and is projected to end the year at $311K. 40 assumes an additional $64K will be fundraised (34% of total) Actual ADA Average ADA ADA Enrollment Category 138 Cash on Hand 138 Enrollment Net Income / (Loss) 236,204 Year End Cash 311,027 ADA % Average ADA 9,674 Actual through Month 7 ADA Analysis ed P2 ed P2 Better/ (Worse) Prior Year P2 94.3% 94.3% 95.0% -0.7% 0.0% Revenue & Expenses per ADA 8,411 9,397 12,365 10,950 10,655 Revenue Revenue w/o Fundraising Expenses INCOME STATEMENT ADA vs. Actual Key Performance Indicators Variance B/(W) % of Full Year % of Variance B/(W) Principal Apportionment 450, ,729 (46,842) 1,078,409 63% 759,590 54% 318,819 Federal Revenue 217, ,951 99, ,606 17% 243,428 17% 41,178 State Revenue 42, ,987 (59,820) 99,502 6% 207,187 15% (107,685) Other Local Revenue/PYA 28,030 12,237 15,793 50,721 3% 20,318 1% 30,403 Grants/Fundraising 131, ,120 11, ,433 11% 184,800 13% 10,633 TOTAL REVENUE 869, ,024 19,400 1,708, % 1,415, % 293,348 Certificated Salaries 397, ,860 (1,760) 555,534 38% 550,032 40% (5,502) Classified Salaries 167, ,172 (19,569) 242,074 16% 206,451 15% (35,623) Benefits 100, ,044 20, ,153 9% 165,141 12% 25,988 Student Supplies 101, ,199 (8) 160,306 11% 119,447 9% (40,858) Operating Expenses 139, ,725 10, ,079 17% 206,483 15% (47,596) Other 88,823 94,470 5, ,321 8% 127,181 9% 5,860 TOTAL EXPENSES 996,053 1,011,470 15,417 1,472, % 1,374, % (97,731) INCOME / (LOSS) (126,629) (161,446) 34, ,204 40, ,616 ($1,000s) $1,200 $1,000 $800 $600 $400 $200 $- $(200) Cash Balance Actual and Projected Cash (Approved) Y/E CASH BALANCE Projected Variance 311, ,204 86,823 Balance Sheet 2/28/2014 3/31/2014 6/30/2014 Assets Cash 598, , ,027 Accounts Receivable ,546 Due From Others 8,152 11,890 0 Other Assets ,036 Net Fixed Assets 5,174 5,087 4,823 Assets 611, , ,432 Liabilities A/P & Payroll (4,748) (5,417) 18,455 Due to Others Deferred Revenue Debt 700, , ,500 Liabilities 695, , ,955 Equity Beginning Fund Balance 5,273 5,273 5,273 Net Income/(Loss) (88,575) (126,630) 236,204 Equity (83,302) (121,357) 241,477 Liabilities & Equity 611, , ,432 Available Line of Credit Days Cash on Hand (>45 days) Notes 11

12 Net Income Citizens of the World Mar Vista Financial Analysis March 2014 Citizens of the World Mar Vista is projected to achieve a net income of $236K in FY13-14 compared to $41K in the board approved budget. Reasons for this positive $196K variance are explained below in the Income Statement section of this analysis. Balance Sheet As of March 31, 2014, the school s cash balance was $556K. By June 30, 2014, the school s cash balance is projected to be $311K. As of March 31, 2014, the Accounts Payable balance, including payroll liabilities, totaled $-5K, compared to $-5K in the prior month. This includes credit card payables of $-5K. As of March 31, 2014, CWC MV had a debt balance of $700K compared to $700K in the prior month. Income Statement Revenue revenue for FY13-14 is projected to be $1,709K, which is $293K or 21% over budgeted revenue of $1,415K. The variance is explained by the following: LCFF Funding (Revenue Limit, Categorical Block Gant, and Other State Revenue) is over budget by $218K due to higher funding under LCFF but offset by lower ADA. Note, new school starting point LCFF base rate per ADA reflects the base rate of the district in which it is located which results in significant increase in funding Title V, B Charter Schools Grants is over budget by $36K due to additional staff time and expenditures to be charged to grant Food Service Sales is under budget by $-12K due to lower enrollment and lower participation rates All Other Local Revenue is over budget by $-34K due to launch of new after school program. Expenses expenses for FY13-14 are projected to be $1,472K, which is $98K or 7% over budgeted expenditures of $1,375K. The variance is explained by the following: 1110 Teachers Salaries is over budget by $12K due to classifying Associate Teacher in 1110 rather than 2100 as budgeted Teachers' Salaries - Stipend/Extra Duty is under budget by $-9K due to existing staff assuming budgeted duties Instructional Aide Salaries is over budget by $10K due to hiring additional staff to provide services. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $8,000 and 10%. 12

13 Clerical/Technical/Office Staff Salaries is under budget by $-7K given elimination of Family Support Coordinator position offset by higher costs for other positions Other Classified Salaries is over budget by $35K due to hiring staff for new after school program Health & Welfare is under budget by $50K due to mix of participants and type of plans selected Other Supplies is over budget by $12K due to higher expenses for supplies, many related to start-up of new school Non Capitalized Equipment is over budget by $12K to account for expected technology expenditures to meet Common Core requirements Instructional Consultants is over budget by $-34K due to hiring consultants to conduct unbudgeted summer program, provide additional special education services, and provide enrichment courses as part of after school program. ADA ed average ADA for FY13-14 is based on an enrollment of 154 and a 95.0% attendance rate. The forecast assumes an ADA of based on an enrollment of 163 and a 94.3% attendance rate. In Month 7, ADA was with 163 students enrolled at the end of the month and a 93.9% ADA rate. Average ADA for the year (through Month 7) is (a 94.3% ADA rate for the year to date). This report will discuss revenue and expenditure variances from the Board-approved budget that are above $8,000 and 10%. 13

14 Citizens of the World Regional Support Office - Financial Dashboard (March 2014) KEY POINTS Key Performance Indicators Net income is projected to be $34K, $34K more than budget. This is an increase of $16K from prior month as Development Manager will not start until Cash is projected to be positive throughout the year and is projected to end the year at $34K. Net Income / (Loss) 33,811 Cash on Hand (503) Year End Cash 33,811 INCOME STATEMENT Actual Variance B/(W) % of Full Year % of Variance B/(W) Principal Apportionment % 0 0 Federal Revenue % 0 0 State Revenue % 0 0 Other Local Revenue % 0 0 Grants/Fundraising 1, ,000 1, % 0 1,000 TOTAL REVENUE 1, ,000 1, % 0 1,000 Certificated Salaries 82, ,373 23, , % 141,831 23,638 Classified Salaries 63, ,648 41,785 86, % 140,767 54,257 Benefits 35,733 34,580 (1,153) 44, % 45, Student Supplies 1,978 2, ,700-8% 2,700 0 Operating Expenses 188, ,010 20, , % 265,957 (2,118) Other (423,884) (447,522) (23,638) (553,088) 1686% (596,696) (43,608) TOTAL EXPENSES (50,654) 10,114 60,768 (32,811) 100% 0 32,811 INCOME / (LOSS) 51,654 (10,114) 61,768 33, ,811 ($1,000s) $80 $60 $40 $20 $- $(20) $(40) $(60) $(80) $(100) Cash Balance Actual and Projected Cash (Approved) Y/E CASH BALANCE Projected Variance 33,811 (47,996) 81,807 Balance Sheet 2/28/2014 3/31/2014 6/30/2014 Assets Cash 44,850 45,242 33,811 Accounts Receivable Due From Others Other Assets Net Fixed Assets Assets 44,850 45,242 33,811 Liabilities A/P & Payroll (3,716) (6,412) 0 Due to Others Deferred Revenue Debt Liabilities (3,716) (6,412) 0 Equity Beginning Fund Balance Net Income/(Loss) 48,567 51,654 33,811 Equity 48,567 51,654 33,811 Liabilities & Equity 44,850 45,242 33,811 Available Line of Credit Days Cash on Hand (>45 days) (499) (503) (376) Notes 14

15 Net Income Citizens of the World Regional Support Office Financial Analysis March 2014 Citizens of the World Regional Support Office is projected to achieve a net income of $34K in FY13-14 compared to $0K in the board approved budget. Reasons for this positive $34K variance are explained below in the Income Statement section of this analysis. Balance Sheet As of March 31, 2014, the school s cash balance was $45K. By June 30, 2014, the school s cash balance is projected to be $34K. As of March 31, 2014, the Accounts Payable balance, including payroll liabilities, totaled $-6K, compared to $-4K in the prior month. Credit card payables were $-6K. As of March 31, 2014, CWC RSO had a debt balance of $0K compared to $0K in the prior month. Income Statement Revenue revenue for FY13-14 is projected to be $1K versus budgeted revenue of $0K. Expenses expenses for FY13-14 are projected to be $-33K versus budgeted expenditures of $0K. The variance is explained by the following: Certificated Supervisor and Administrator Salaries is under budget by $-24K due to Executive Director s salary for July and August being charged to individual schools. This charge is offset by a reduction in indirect costs from schools resulting in no net impact on RSO or schools Classified Supervisor and Administrator Salaries is under budget by $-64K as Development Manager has not been hired Clerical/Technical/Office Staff Salaries is over budget by $10K to reflect actuals General Insurance is under budget by $-14K to reflect actuals Operation and Housekeeping Services is over budget by $12K to reflect paying a share of Assistance League facility operations and housekeeping services Non Instructional Consultants is over budget by $5K due to set aside for Development services since Development Manager will not be hired in Indirect Costs received from each school were $44K less than budget due to changes noted above to object code 1300 and a reduction in the indirect allocation reflecting projected positive net income for RSO. This report will discuss revenue and expenditure variances from the Board-approved budget that are above $4,000 and 10%. 15

16 Citizens of the World Charter Schools - Los Angeles Check Register For the Month Ending March 31, 2014 Location Check # Check Date Payee Description Amount HW 03/11/14 - ED 3/11/2014 AT&T UVERSE /14-03/13/14 - INTERNET SERVICE HW 03/14 - CC#5253 PYMT 3/27/2014 CALIFORNIA CREDIT UNION-5253 CCU#5253 PAYMENT HW 03/21/14 - ED 3/21/2014 CANON FINANCIAL SERVICES 03/14 - COPIER LEASE HW 03/24/14 - ED 3/24/2014 AT&T /28-02/27/14 - PHONE & INTERNET SERVICE HW 03/28/14 - ED 2 3/28/2014 LOS ANGELES COUNTY OFFICE OF EDUCATION 03/14 - FY13/14 - STRS PAYMENT 16, HW 03/31/14 - ED 3/31/2014 AMERICAN UNITED PENSION 03/31 PR PAYMENT HW /21/2014 MAKAYLA OVERSTREET 02/09-02/24/14 - PAYROLL (458.39) HW /6/2014 EXCELLENT EDUCATION DEVELOPMENT 03/14 - MANAGEMENT CONTRACT FEE HW /11/2014 ADAMS ESQ 10/13-02/14 - LEGAL SERVICES 1, HW /11/2014 CHARTER SAFE 04/14 - INSURANCE 2, HW /11/2014 COPY USA BANNERS HW /11/2014 REVOLUTION FOODS, INC. 02/14 - STUDENT LUNCHES 8, HW /11/2014 SCHOLASTIC INC MS. HILL SCHOLASTIC NEWS 4 (2ND SEM) FOR 21 STUDENT QUANTITY HW /13/2014 AMERICAN GTS 03/24/14 - FIELD TRIP TO SANTA MONICA PIER AQUARIUM HW /13/2014 AMERICAN GTS 04/01/14 - FIELD TRIP TO TREE PEOPLE HW /13/2014 MUTUAL OF OMAHA 03/14 - LIFE INSURANCE HW /13/2014 REVOLUTION FOODS, INC. 06/13 - STUDENT LUNCHES 4, HW /13/2014 OFFICE360 OFFICE SUPPLIES HW /13/2014 STAPLES ADVANTAGE COPY PAPER HW /14/2014 BILLY SALES III 03/11-03/14/14 - FINAL CHECK HW /18/2014 HEIDI ACOSTA REIMBURSEMENT 2, HW /18/2014 LAKESHORE LEARNING MATERIALS PILLOW FOLDING REST MAT HW /18/2014 NERY MELENDEZ TRANSLATOR FOR MARCH MADNESS RAFFLE HW /18/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 9/13 - LEGAL FEES HW /18/2014 OFFICE360 PAPER & SCISSORS HW /18/2014 OFFICE360 SCISSORS HW /18/2014 ROSALYN SEVERY REIMBURSEMENT HW /18/2014 STAPLES ADVANTAGE ENVELOPES 8.07 HW /18/2014 SUNSHINE SPEECH SERVICES 02/14 - SPEECH & LANGUAGE THERAPY 3, HW /20/2014 ATLANTIC EXPRESS INC. 05/15/14 - FIELD TRIP TO HISTORY MUSEUM HW /20/2014 CANON SOLUTIONS AMERICA 11/30/13-02/27/14 - COPIER OVERAGES HW /20/2014 CANON SOLUTIONS AMERICA 02/28-05/30/14 - COPIER MAINTENANCE HW /20/2014 RILEY'S FARM 04/04/14 - FIELD TRIP DEPOSIT 1, HW /25/2014 REND AL-KASSIR 12/13-02/14 - ASP ENRICHMENT BALLET 2, HW /25/2014 AT&T U-VERSE 03/14 - INTERNET SERVICE HW /25/2014 CCSA EMPLOYEE WELFARE BENEFIT TRUST 4/14 HEALTH INSURANCE 11, HW /25/2014 JONATHAN GERUNDO 02/05/14-02/26/14 - ASP ENRICHMENT - GUITAR CLASS HW /25/2014 HESS & ASSOCIATES, INC. Q2 - FY13/14 - STRS REPORTING HW /25/2014 JENNIFER KING 03/14 - ASP ENRICHMENT - GARDENING CLASS HW /25/2014 LAKESHORE LEARNING MATERIALS PAPER HW /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 8/13 - LEGAL SERVICES HW /25/2014 NEW WAY SILK SCREEN PAINTING LLC SWEATSHIRTS & T-SHIRTS HW /25/2014 CYNTHIA ROMO 02/14 - ASP ENRICHMENT - PIANO LESSONS HW /25/2014 CYNTHIA ROMO 03/14 - ASP ENRICHMENT - PIANO LESSON HW /25/2014 ANGELICA SAMMONS CUSTOM TATTOOS FOR OUTREACH HW /27/2014 LAN CLEANING SERVICE LLC 02/14 - CLEANING SERVICES HW /27/2014 LAN CLEANING SERVICE LLC 03/14 - CLEANING SERVICES HW /27/2014 NESTLE PURE LIFE DIRECT 02/09/14-03/08/14 - BOTTLED WATER HW /27/2014 ONE AMERICA 12/31/ PLAN - ANNUAL ADMIN FEES HW /27/2014 STAPLES ADVANTAGE STAPLES, ENVELOPES HW /27/2014 TREE PEOPLE 04/01/14-1ST GRADE TOUR HW /28/2014 LOS ANGELES UNIFIED SCHOOL DISTRICT 4/13 - RENT 10, HW 75,

17 Citizens of the World Charter Schools - Los Angeles Check Register For the Month Ending March 31, 2014 Location Check # Check Date Payee Description Amount MV 03/14 - CC#0957 PYMT 3/27/2014 CALIFORNIA CREDIT UNION-0957 CCU#0957 PAYMENT MV 03/28/14 - ED 2 3/28/2014 LOS ANGELES COUNTY OFFICE OF EDUCATION 03/14 - FY13/14 - STRS PAYMENT 8, MV /6/2014 SHANICE MASON 02/25-03/07/14 - PAYROLL MV /6/2014 SOPHIE TAN 03/14 - STORAGE RENTAL MV /11/2014 THE APTUS GROUP 02/14 - SPECIAL ED SERVICES MV /11/2014 CHARTER SAFE 04/14 - INSURANCE 1, MV /11/2014 GOPHER STUDENT MATERIALS 2, MV /11/2014 SOPHIE TAN 01/14 - STORAGE FEE MV /11/2014 SOPHIE TAN 02/14 - STORAGE FEE MV /11/2014 WELLNESS WORKS, INC. 01/14 - CONSULTATIONS 7, MV /13/2014 KIMBERLY LUEDERITZ 02/05-03/06/14 - ASP GARDENING CLASSES MV /13/2014 OFFICE360 OFFICE SUPPLIES MV /13/2014 OFFICE360 OFFICE SUPPLIES MV /13/2014 OFFICE360 COPY PAPER MV /13/2014 OFFICE360 HEADPHONES MV /18/2014 KIM FINK KIMBERLY FINK - FINAL CHECK MV /18/2014 NATHAN KATZIN NATHAN KATZIN - FINAL CHECK MV /18/2014 NATHAN KATZIN RALPHS- FOOD FOR ASP PROJECT 9.47 MV /18/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 9/13 - LEGAL FEES MV /18/2014 JOANIE PLAKE REIMBURSEMENT MV /20/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE MV /26/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE (150.00) MV /20/2014 MUSEUM OF THE AMERICAN WEST 03/25/14 - FIELD TRIP - AUTRY NATIONAL CENTER MV /20/2014 WHITNEY SANDER TREES CAMPUS BEAUTIFICATION MV /24/2014 KIM FINK SEVERANCE CHECK MV /24/2014 NATHAN KATZIN SEVERANCE CHECK MV /25/2014 ARTS & HEALING INITIATIVE SOCIAL EMOTIONAL ARTS CERTIFICATE PROGRAM MV /25/2014 CANON SOLUTIONS AMERICA 08/08/13-11/07/13 - COPIER MAINTENANCE # MV /25/2014 CANON FINANCIAL SERVICES 11/13 - COPIER LEASE & 10/13 - LATE FEES MV /25/2014 CANON FINANCIAL SERVICES 12/13 - COPIER LEASE & 11/13 - LATE FEES MV /25/2014 CANON FINANCIAL SERVICES 1/14 - COPIER LEASE & 12/13 - LATE FEES MV /25/2014 CANON FINANCIAL SERVICES 2/14 - COPIER LEASE & 1/14 - LATE FEES MV /25/2014 CANON FINANCIAL SERVICES 3/14 - COPIER LEASE # MV /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 8/13 - LEGAL SERVICES MV /25/2014 AMY NEIMAN 7/13 - LEAGAL SERVICES MV /25/2014 REVOLUTION FOODS, INC. 2/14 - STUDENT LUNCHES 3, MV /25/2014 ANGELICA SAMMONS CUSTOM TATTOOS FOR OUTREACH MV /25/2014 OFFICE360 BINDERS MV /25/2014 OFFICE360 HEAVY DUTY HOLE PUNCH MV /25/2014 OFFICE360 CILPBOARD & PUSH PINS MV /25/2014 OFFICE360 COLORED PAPER MV /25/2014 WELLNESS WORKS, INC. 12/13 - OT/ST CONSULTATION & TREATMENT SERVICES 2, MV /25/2014 SCHOOL PATHWAYS LLC PLSIS - SCHOOL STUDENT SYSTEM ANNUAL FEE MV /26/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE MV /28/2014 LOS ANGELES UNIFIED SCHOOL DISTRICT 4/13 - RENT 4, MV /28/2014 SANDBAG USA CUSTOM ART TSHIRTS 2, MV 43,

18 Citizens of the World Charter Schools - Los Angeles Check Register For the Month Ending March 31, 2014 Location Check # Check Date Payee Description Amount RSO 03/10/14 - ED 3/28/2014 CALIFORNIA CREDIT UNION-5261 CCU#5261 PAYMENT 1, RSO 03/14 - CC#5261 PYMT 3/27/2014 CALIFORNIA CREDIT UNION-5261 CCU# 5261 PAYMENT 1, RSO 03/28/14 - ED 2 3/28/2014 LOS ANGELES COUNTY OFFICE OF EDUCATION 03/14 - FY13/14 - STRS PAYMENT 1, RSO /6/2014 EXCELLENT EDUCATION DEVELOPMENT 03/14 - MANAGEMENT CONTRACT FEE 14, RSO /11/2014 CHARTER SAFE 04/14 - INSURANCE 3, RSO /13/2014 JENNIFER BLEDSOE STAPLES - PAPER, ENVELOPES RSO /13/2014 VAVRINEK, TRINE, DAY & CO., LLC FY12/13 - TAX RETURN PREP RSO /18/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 9/13 - LEGAL FEES 1, RSO /20/2014 JENNIFER BLEDSOE NOTARY SERVICE RSO /25/2014 CCSA EMPLOYEE WELFARE BENEFIT TRUST 4/14 HEALTH INSURANCE 1, RSO /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 12/29/13-01/28/14 - CCU STATEMENT 1, RSO /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 8/13 - LEGAL SERVICES 2, RSO /25/2014 UNIVERSAL COURIER COURIER SERVICE - LAUSD RSO 29,

19 Citizens of the World Charter Schools - Los Angeles Check Register For the Month Ending March 31, 2014 Location Check # Check Date Payee Description Amount SL 03/05/14 - ED 3/5/2014 AT&T /10-02/09/14 - PHONE CHARGES SL 03/05/14 - ED 2 3/5/2014 LADWP /17-02/18/14 - FIRE SERVICE CHARGES SL 03/14 - CC#7218 PYMT 3/27/2014 CALIFORNIA CREDIT UNION-7218 CCU#7218 PAYMENT SL 03/14 - CCU#7200 PYM 3/27/2014 CALIFORNIA CREDIT UNION-7200 CCU#7200 PAYMENT SL 03/21/14 - ED 1 3/21/2014 CANON FINANCIAL SERVICES 03/14 - COPIER LEASE# SL 03/21/14 - ED 2 3/5/2014 CANON FINANCIAL SERVICES 03/14 - COPIER LEASE# SL 03/24/14 - ED 2 3/24/2014 THE GAS COMPANY /27-02/28/14 - GAS SERVICE SL 03/28/14 - ED 3/28/2014 AT&T /14 - U-VERSE CHARGES SL 03/28/14 - ED 3/28/2014 CALIFORNIA CREDIT UNION-7218 CCU#7218 PAYMENT SL 03/28/14 - ED 2 3/28/2014 LOS ANGELES COUNTY OFFICE OF EDUCATION 03/14 - FY13/14 - STRS PAYMENT 13, SL /4/2014 AQUALITY POOL & SPA CARE INC 02/14 - POOL SERVICE SL /6/2014 EXCELLENT EDUCATION DEVELOPMENT 03/14 - MANAGEMENT CONTRACT FEE SL /6/2014 OFFICE360 HANGING FILE FOLDERS SL /11/2014 CASEY ANDERSON TARGET - EXTENSION CORD, CHALK SL /11/2014 THE APTUS GROUP 02/14 - SPECIAL ED SERVICES 5, SL /11/2014 ATHENS SERVICES 03/14 - WASTE MANAGEMENT FEE SL /11/2014 BLICK ART MATERIALS CHALK SL /11/2014 CCSA EMPLOYEE WELFARE BENEFIT TRUST 03/14 - INSURANCE PREMIUM 9, SL /11/2014 CHARTER SAFE 04/14 - INSURANCE 1, SL /11/2014 CRITERION SUPPLY, INC FLOORING & INSTALLATION 6, SL /11/2014 DEWEY PEST CONTROL 03/14 -PEST CONTROL SERVICE SL /11/2014 KEVIN DUANE SHOWTIME MOVERS - PIANO MOVING SL /11/2014 ENVIRONMENTAL COMPLIANCE CORP ROUNDED PAD SL /11/2014 THE GAS COMPANY /26/13-01/28/14 - GAS SL /11/2014 THE GAS COMPANY /28-02/27/14 - GAS SL /11/2014 THE GAS COMPANY /25-10/23/13 - GAS SL /11/2014 THE GAS COMPANY /23-11/22/13 - GAS SL /11/2014 THE GAS COMPANY /22-12/26/13 - GAS SL /11/2014 THE GAS COMPANY /26-09/25/13 - GAS (359.50) SL /11/2014 MICHELL KAPLAN TRADER JOES - SNACKS SL /11/2014 JENIFFER LIM OFFICE SUPPLIES SL /11/2014 SHAUN MANUS OFFICE SUPPLIES SL /11/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 01/14 - LEGAL SERVICES 3, SL /11/2014 DOLLY SANDERS STUDENT MATERIALS SL /11/2014 OFFICE360 COPY PAPER SL /11/2014 OFFICE360 OFFICE SUPPLIES SL /11/2014 PASCHA SOLOMAN LITTLE CEASARS - FOOD SL /13/2014 CITY OF LOS ANGELES TREASURER DELONPRE SITE PROJECT - PLANNING FEES SL /17/2014 RUTH LERDAHL RUTH LERDAHL - REISSUED PAYMENTS SL /18/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 9/13 - LEGAL FEES SL /18/2014 OFFICE360 PAPER, WRISTBANDS, EASEL PADS, ETC SL /19/2014 ASSISTANCE LEAGUE OF SOUTHERN CALIFORNIA 03/20/13-04/19/14 - RENT 23, SL /20/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE SL /26/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE (150.00) SL /20/2014 PEARSON EDUCATION INC. ENGLISH BOOKS 1, SL /20/2014 DENISE WOODS 02/25/14 - YOGA SL /25/2014 AQUALITY POOL & SPA CARE INC 12/13 - POOL MAINTENANCE SL /25/2014 CANON SOLUTIONS AMERICA 11/30/13-2/27/14 - COPIER MAINTENANCE # SL /25/2014 CCSA EMPLOYEE WELFARE BENEFIT TRUST 4/14 - INSURANCE PREMIUM 9, SL /25/2014 LAN CLEANING SERVICE LLC 2/14 - CLEANING SERVICES 2, SL /25/2014 LAN CLEANING SERVICE LLC 3/14 - CLEANING SERVICES 2, SL /25/2014 ADOLPHO MENDEZ MAINTENANCE REIMBURSEMENT 11/13-1/14 2, SL /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 12/29/13-01/28/14 - CCU STATEMENT SL /25/2014 LAW OFFICES OF YOUNG, MINNEY & CORR, LLP 8/13 - LEGAL SERVICES 1, SL /25/2014 ANGELICA SAMMONS CUSTOM TATTOOS FOR OUTREACH SL /25/2014 OFFICE360 COLORED PAPER SL /25/2014 LOURDES TORRES 03/24/14 - PSYCHOLOGICAL SERVICES SL /25/2014 PRN NURSING CONSULTANTS MEDICATION CONSULTATION SL /26/2014 ACCREDITING COMMISSION FOR SCHOOLS FY13/14 - WASC AFFILIATION FEE SL /27/2014 STAPLES ADVANTAGE WIRELESS HEADSET SL /28/2014 LOS ANGELES UNIFIED SCHOOL DISTRICT 4/13 - RENT 3, SL /28/2014 AT&T UVERSE /08-4/07/14 - PHONE & INTERNET SERVICE SL /28/2014 CANON SOLUTIONS AMERICA 11/30/13-02/27/14 - COPIER MAINTENANCE # SL /28/2014 SSD SYSTEMS HOLD-UP KEY SL /28/2014 SSD SYSTEMS 3/14-5/14 - SECURITY ALARM MONITORING SL /28/2014 SSD SYSTEMS 3/14-5/14 - SECURITY ALARM MONITORING SL /28/2014 STAPLES ADVANTAGE THERMOSCAN PRO 4000 EAR THERMOMETER, LATEX-FREE SL 99,

20 Citizens of the World Charter Schools - Los Angeles Credit Card Register For the Month Ending March 31, 2014 Site Statement Transaction Description Expenses SL STD01/28/14CCU7200 AT&T - PHONE SERVICES SL STD01/28/14CCU7200 HOME DEPOT - DOOR WEDGE SL STD01/28/14CCU7200 HOME DEPOT - TAPE, BULBS, ETC SL STD01/28/14CCU7200 LA ZOO - ENTRY TICKETS SL STD01/28/14CCU7200 STORE SUPPLY WAREHOUSE - STEEL RACK Transaction STD01/28/14CCU SL STD01/28/14CCU7218 THEHOMEDEPOT - LUBRICANT, BALLAST SL STD01/28/14CCU7218 THEHOMEDEPOT - PAINT 8.44 SL STD01/28/14CCU7218 THEHOMEDEPOT - PIPE INSULATION 2.16 SL STD01/28/14CCU7218 THEHOMEDEPOT - RECYCLING BINS, TRASH CANS, DOOR STOPS SL STD01/28/14CCU7218 NETWORKFORGOOD - MONTHLY FEE SL STD01/28/14CCU7218 PACIFICAPPLIANCE - AC/HEAT REPAIR SL STD01/28/14CCU7218 PRC - LOCK CHANGE SL STD01/28/14CCU7218 EFAXPLUS - ELECTRONIC FAX SERVICE SL STD01/28/14CCU7218 GREENWORLDMOVING - TRUCK RENTAL Transaction 1, STD01/28/14CCU7218 1, SL STD09/28/ LATE CHARGE FEE 7.00 SL STD09/28/ AMAZON - ERASERS SL STD09/28/ AMAZON - ICE CUBE TRAY SL STD09/28/ AMAZON - ICE CUBE TRAY SL STD09/28/ AMAZON - MEGA MAZE PUZZLES SL STD09/28/ AMAZON.COM - BUBBLE BOTTLES SL STD09/28/ AMAZON.COM - CRAFT TOOL BOX SL STD09/28/ AMAZON.COM - ICE CUBE TRAYS (69.21) SL STD09/28/ AMAZON.COM - ICE CUBE TRAYS REFUND (39.58) SL STD09/28/ AMAZON.COM - ICE CUBE TRAYS REFUND (32.11) SL STD09/28/ AMAZON.COM - TOOL BOXES SL STD09/28/ OFFICE PLAYGROUND - ERASERS SL STD09/28/ ORIENTAL TRADING - KALEIDOSCOPES, DOMINOES, SHAPES Transaction STD09/28/ SL STD12/28/13CCU7200 CHIPOTLE - STAFF HOLIDAY PARTY Transaction STD12/28/13CCU SL 3,