FENTON CHARTER PUBLIC SCHOOLS Education Protection Account (EPA) Spending Plan

Transcription

1 FENTON CHARTER PUBLIC SCHOOLS Education Protection Account (EPA) Spending Plan Proposition 30, The Schools and Local Public Safety Protection Act of 2012, approved by the voters on November 6, 2012, temporarily increases the state s sales tax rate for all taxpayers and the personal income tax rates for upper-income taxpayers. The new revenues generated from Proposition 30 are deposited into a newly created state account called the Education Protection Account (EPA). School districts, county offices of education, and charter schools (LEAs) will receive funds from the EPA based on their proportionate share of the statewide revenue limit amount. A corresponding reduction is made to an LEA s revenue limit EPA entitlement. LEAs received EPA payments quarterly beginning with the Fiscal Year. Proposition 30 provides that all K-14 local agencies have the sole authority to determine how the funds received from the EPA are spent, but with these provisions: The spending plan must be approved by the governing board during a public meeting. EPA funds cannot be used for the salaries or benefits of administrators or any other administrative costs. (Refer to the attached list of functions for which EPA funds may be used.) Each year, the local agency must publish on its website an accounting of how much money was received from the EPA and how the funds were expended. The estimated EPA entitlement for the school year for the three Fenton schools is listed below: Fenton Avenue Charter School $ 983,980 Fenton Primary Center 1,040,598 Santa Monica Blvd. Community Charter School 1,221,338 Fenton STEM Academy 28,908 Fenton Academy for Social and Emotional Learning (FCLA) 32,670 Fenton Charter Public Schools estimated EPA Entitlement $ 3,307,494 It is proposed that EPA funds be used to cover salary and benefit costs of non-administrative certificated and classified staff as in The percentage of funds used per group is determined by their share of costs to the general fund. Salaries below are calculated for the school year. Any difference in revenue and/or expenditures will be adjusted in the tables below as necessary. Percentage of Salaries and Benefits of Non-Administrative Certificated and Classified Staff Group Percentage of GF Percentage applied to Amount Cost per group EPA funds Certificated 66% 75% $2,480, Classified 17% 25% $826, Administration/Management 17% Not eligible Not eligible TOTAL 100% 100% $3,307,494.00

2 Certificated Positions by School CERTIFICATED POSITIONS Fenton Avenue Charter School Classroom Teachers $737, Fenton Primary Center Classroom Teachers $780, Santa Monica Boulevard Community Charter School Classroom Teachers $916, Fenton Academy for Social and Emotional Learning Classroom Teachers $21, Fenton STEM Academy Classroom Teachers $24, TOTAL 123 $2,480, Classified Positions by School CLASSIFIED POSITIONS Fenton Avenue Charter School Maintenance and Operations $245, Fenton Primary Center Maintenance and Operations $260, Santa Monica Boulevard Community Charter School Maintenance and Operations $305, Fenton Academy for Social and Emotional Learning Maintenance and Operations $7, Fenton STEM Academy Maintenance and Operations $8, TOTAL 13 $826,873.50

3 FENTON CHARTER PUBLIC SCHOOLS Education Protection Account Program by Resource Report Expenditures by Function Detail Expenditures through June 30, 2016 For Fund 01, Resource 1400 Education Protection Account Description Object Codes Amount AMOUNT AVAILABLE FOR THIS FISCAL YEAR Adjusted Beginning Fund Balance Revenue Limit Sources ,307, Federal Revenue Other State Revenue Other Local Revenue All Other Financing Sources and Contributions Deferred Revenue TOTAL AVAILABLE 3,307, EXPENDITURES AND OTHER FINANCING USES Function Codes (Objects ) Instruction ,480, Instruction-Related Services Instructional Supervision and Administration Contribution to SELPA Instructional Library, Media and Technology Other Instructional Resources School Administration Pupil Services Guidance and Counseling Services Psychological Services Attendance and Social Work Services Health Services Speech Pathology and Audiology Services Pupil Testing Services Pupil Transportation Food Services Other Pupil Services Ancillary Services Community Services Enterprise General Administration Plant Services , Other Outgo TOTAL EXPENDITURES AND OTHER FINANCING USES 3,307, BALANCE 0.00 (Total Available minus Total Expenditures and Other Financing Uses)

4 ESP-CA EdTec Network : Fenton Charter Public Schools Balance Sheet End of Jun 2015 Financial Row FACS FPC SMBC FCLA FCPS STEM Total Amount Amount Amount Amount Amount Amount Amount ASSETS Current Assets Bank 9120-FCPS - Cash in Bank - Fenton 9110-FCPS - Cash in Bank - FCPS: Cash in County 1,826,180 5,628,789 3,365, ,820, Cash in Bank - FCPS: East West Bank Checking (main) 2,265,750 (4,558,573) 399,160 84,883 3,292,455 76,168 1,559, Cash in Bank - FCPS: EWB SMB CD , , Cash in Bank - FCPS: CITI FCPS CMO ,540-29, Cash in Bank - FCPS: FACS Money Market # , , Cash in Bank - FCPS: EWB SMB Main , , FCPS - Cash in Bank - FCPS: FCPS Petty Cash ,500 Total FCPS - Cash in Bank - Fenton 4,198,903 1,070,861 4,146,552 84,883 3,321,995 76,168 12,899,362 Total Bank 4,198,903 1,070,861 4,146,552 84,883 3,321,995 76,168 12,899,362 Accounts Receivable Accounts Receivable Accounts Receivable 62,810 10,402 18, , Employee Advances 184, , , , AR - Title II 39, , , AR - Title III 9,749 22,555 30, , AR- Child Nutrition (Federal) 119, , , , AR - Other Federal , , AR - Property Taxes (18,205) (5,865) (4,294) (28,364) AR - Lottery 61,725 65,850 78, , AR - ASES , , AR - Special Education (11,066) (5,631) (5,440) (22,137) AR - Child Nutrition (State) 6,666 10,563 14, , AR - School Facilities Apportionment - 147, , AR - Other State Grants 8,264 83, , AR - Gen Purpose prior yr adjustment (Due from District) 26,821 29,415 34, , AR - Gen Purpose/Categ/SHI PY Adj (Due from Co) 12,408 13,608 15, , AR - Misc ,247,620-1,247,620 Total Accounts Receivable 501, , ,314-1,247,620-3,040,974 Total Accounts Receivable 501, , ,314-1,247,620-3,040,974 Other Current Asset Investments ,370,109-1,370, Due from Other Funds Due from Other Funds Prepaid Expenditures (Expenses) 139,159 91, ,401 61,887-68, ,196 Total Other Current Asset 139,159 91, ,401 62,137 1,370,201 68,253 1,831,897 Total Current Assets 4,839,775 1,791,935 4,909, ,020 5,939, ,421 17,772,233 Fixed Assets Land , , Land Improvements 6,209, ,436 1,998, ,548, Accumulated Depreciation - Land Improvements - (26,881) (26,881) Buildings , , Equipment 1,632, , , ,585, Accumulated Depreciation-Equipment (3,829,744) (104,804) (1,156,090) (5,090,638) Construction in Progress , ,358 Total Fixed Assets 4,011, ,437 2,389, ,358-7,608,594 Other Assets

5 Financial Row FACS FPC SMBC FCLA FCPS STEM Total Amount Amount Amount Amount Amount Amount Amount Other Asset - Deposits - 12,500 7,720-99, ,220 Total Other Assets - 12,500 7,720-99, ,220 Total ASSETS 8,851,725 2,463,872 7,306, ,020 6,586, ,421 25,500,047 LIABILITIES & EQUITY Current Liabilities Accounts Payable Accounts Payable 228, , ,770 5,263-9, ,671 Total Accounts Payable 228, , ,770 5,263-9, ,671 Other Current Liability Accrued Accounts Payable 22,078 2,032 22, , AP - Other ,333-8, Employee Insurance Life Insurance Total Employee Insurance Payroll Liability - Federal (15,282) (10,235) (16,671) (42,187) Payroll Liability - OASDI (4,326) (868) (928) (6,122) Payroll Liability - Medicare (2,878) (579) (2,934) (6,391) Payroll Liability State (2,620) (1,574) (3,266) (7,459) Payrolll Liability - SUI , Payrolll Liability - SDI (86) - (119) (205) Retirement Liability - PERS 15,683 3,066 6, , Retirement Liability - STRS 23,081 21,983 30, , Other Post-Employment Benefit Liability 691, , , ,803,236 estimated accrual Retirement Liability - Other 2,792 3,149 2, , Wages Payable 453, , , ,185, Accrued PTO/Vacation 1,972 2,851 2, , Other Payroll Liabilities , , Due to Student Groups/Other Agencies Due to (From) School 2 - (1,246,944) (1,246,944) Due to (From) School 4 - (250) (250) Due to (From) School ,247,870-1,247,870 Total Due to Student Groups/Other Agencies - (1,247,194) - - 1,247, Deferred Revenue - - 4, , ,364 Total Other Current Liability 1,186,368 (501,745) 1,493,463-1,486,203-3,664,290 Total Current Liabilities 1,414,583 (389,066) 1,636,233 5,263 1,486,203 9,745 4,162,960 Equity Beginning Fund Balance 7,476,529 2,321,532 10,007, ,000 5, ,750 20,294, Other Restatements (35,058) (3,246) (5,088,277) - 5,088,277 - (38,305) Retained Earnings Net Income (4,328) 534, ,092 (101,243) 6,145 (105,074) 1,081,245 Total Equity 7,437,142 2,852,938 5,670, ,757 5,099, ,676 21,337,087 Total LIABILITIES & EQUITY 8,851,725 2,463,872 7,306, ,020 6,586, ,421 25,500,