Budget Presentation T.R. PAUL ACADEMY OF ARTS & KNOWLEDGE Version A. Provide by Tatonka Education Services, Inc PBC

Transcription

1 Budget Presentation T.R. PAUL ACADEMY OF ARTS & KNOWLEDGE Version A Provide by Tatonka Education Services, Inc PBC

2 Version E T.R. PAUL ACADEMY OF ARTS & KNOWLEDGE Assumptions Revenue Assumptions 1. CSI provided the initial grant numbers based on FY17 enrollment. Expenditure Assumptions 1. Increase of 5% increase in health insurance rates. 2. No increases in dental, life, and vision. 3. Internet cost is listed after deducted estimated e-rate discount k is list at 50% of maximum.

3 Level of Financial Support Indicators from CSI 1 Debt to Asset Ratio Total Liabilities/Total Assets Audited Audited Audited Audited Budget Formula Benchmark Goal June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 <.9 Shows how much of the school's assets are financed n/a (Current Year Net Position - 2 Change in Net Position Prior Year Net Position) /Prior Year Net Position Government-Wide Financial Statements This is to looks to see if the 3 Default school is in default with any financial covenants they might Yes or No Yes Yes No No No have with loan agreements. n/a Government-Fund Financial Statements 4 Positive Unassigned Fund Balance (TABOR) 5 Months of Cash on Hand 6 Months of Unassiged Fund Balance on Hand 7 Current Ratio 8 Operating Margin Unrestricted Cash and Investements/(Operating Expenses/12) Unrestricted Fund Balance/(Total Expenses/12) Current Assets/Current Liabilities (General Fund Total Revenue - General Fund Total Expenditures, net of transfers)/general Fund Total Revenue Yes or No No Yes Yes Yes Yes > 2 months 0.44 months 1.13 months 1.68 months 2.47 months n/a > 2 months months 0.71 months 1.60 months 2.10 months n/a Greater than or = to n/a >0 Indicates the amount added to the school's reserve for every $1 generated in revenue. Goal is to budget a surplus in order to grow fund balance over time n/a 9 Months of Cash on Hand 10 Current Ratio Unrestricted Cash and Investements/(Operating Expenses/12) Current Assets/Current Liabilities 11 Debt to Asset Ratio Total Liabilities/Total Assets 12 Change in Net Position 13 Funded Pupil Count (FPC) Current-Year Variance 14 Change in FPC from Prior-Year (Current Year Net Position - Prior Year Net Position)/Prior Year Net Position Oct 5th FPC/Adopted Budget FPC (Current Year FPC - Prior Year FPC)/Prior Year FPC Enterprise Fund Financial Statements > 2 months n/a n/a Greater than or = to n/a n/a <.9 Shows how much of the school's assets are financed Should be a positive number >-3% Provides a look at the fluctuations in enrollment from year to year. It speaks to consistency in funding. Enrollment n/a n/a n/a n/a % % 2.68% % 3.59%

4 Benchmarks provided by CSI Audited Audited Audited Audited 2018 Projected Budget 2018 Revised Budget Performance Measure Formula Benchmark Goal June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 June 30, Occupancy Expense Total Purchased Property Svcs/Total Expenditures < 10% is desirable, charters run between 15 % - 20% N/A N/A N/A, as building status changed in Dec % 13.73% 13.43% 2 Instructional Expense > 50% 46% 46% 43% 45% 47% 46% General Fund Balance/ 3 Operating Reserve Ratio Total Gen Fund Expenditures Less than 15% -2.86% 5.79% 14.04% (net of transfers) 4 Operating Margin Ratio 5 Days of Cash on Hand Indicates amount added to the school's reserves for every $1 generated in revenue. >45 days is good, banks/bond folks like to see >60 days 15.10% 12.12% 16.66% days 31 days 52 days 55 days 44 days 61 days

5 Benchmarks provided by the Colorado League of Charter Schools Audited Audited Audited Audit 2018 Projected Budget 2018 Revised Budget Performance Measure Formula Benchmark Goal June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 June 30, Unrestricted Cash on Hand Total Unrestricted Fund Balance/Total Expenses More than 3 months months 1.13 months 1.70 months 1.76 months 2.00 months 1.94 months 2 Compensation Pkg as a % of PPR Total Salaries and Benefits/ Total PPR Between 50% - 70% 76% 60% 64% 77% 71% 70% 3 Debt Service as a % of Revenue Total Bond Debt Svc/ N/A, as building Less than 15% 29% 16% Total Revenue sold in Dec. N/A see 5 N/A see 5 N/A see 5 4 Cash Reserves Recommended days 29 days 54 days 51 days 75 days 51 days 50 days 5 Lease/Mortgage Payments N/A, as building Lease or Mortgage 12% - 15% N/A see 3 N/A see 3 status changed in Expense/Total PPR Dec % 14.51% 14.09% 6 Occupancy Expense 7 Current Ratio 8 Operating Reserve Ratio Total Purchased Property Svcs/Total Expenditures Current Assets/Current Liabilities General Fund Balance/ Total Gen Fund Expenditures (net of transfers) Between 15% - 20% N/A see 3 N/A see 3 N/A, as building status changed in Dec. Greater than or = to Minimum of 2 weeks of reserves available -1 weeks 3 weeks 7 weeks 14.27% 13.73% 13.43% 8 weeks Not available at this time 6 weeks Not available at this time 9 weeks

6 APPROPRIATION RESOLUTION * Round to Nearest Dollar * Be it resolved by the Board of Education of School District/BOCES _T.R. Paul Academy in _Larimer County that the amounts shown in the following schedule be appropriated to each fund as specified in the "Revised FY2018 Budget" for the ensuing fiscal year beginning July 1, 2017 and ending June 30, (Note if Adopted or Revised Budget) EXPENDITURES + APPROPRIATION APPROPRIATED FUND AMOUNT RESERVES 1. General Fund 1 1,750,371 1,750,371 1a. Charter Schools 1a b. Insurance Reserve Fund 1b c. Pre-School Fund 1c. 0 0 Special Revenue Funds: 2. Capital Reserve Special Revenue Fund Governmental Designated-Purpose Grants Fund Pupil Activity Special Revenue Fund Full Day Kindergarten Mill Levy Override Fund Transportation Fund Other Special Revenue Funds Bond Redemption Fund Capital Projects Funds: 9. Building Fund Special Building and Technology Fund Capital Reserve Capital Projects Fund Enterprise Funds: 12. Food Service Fund Other Enterprise Funds Internal Service Funds: 14. Risk-Related Activity Fund Other Internal Service Funds Trust/Agency Funds: 16. Fiduciary Fund Private Purpose Trust Funds Agency Fund Pupil Activity Agency Fund 19 12,114 12, Foundations Component Units TOTAL APPROPRIATION 22 1,762,485 1,762,485 Date of Adoption Signature of Board President

7 Northern Colorado Academy of Arts & Knowledge Summary Actual Actual Projected Revised Projections Budget Budget Budget Configuration Kg-5 Kg-5 Kg-5 Kg-5 Total Pupils Funded Pupil Count # of full time kindergarteners funded at.58 fte /9/2017 5/9/2017 9/29/2017 General Fund Revenues Beginning Fund Balance $109,988 $249,802 $196,990 $247,900 MISCELLANEOUS $111,403 $1,956 $11,155 $33,770 STUDENT FEES $6,117 $91,463 $91,162 $105,620 FUNDRAISING $12,046 $21,644 $16,000 $16,000 DISTRICT PPOR $1,592,971 $1,371,098 $1,475,461 $1,518,981 GRANTS $134,404 $112,736 $96,306 $100,206 FOOD SERVICE $62,025 $40,772 $39,637 $41,344 DEBT PROCEEDS (Capitalized Interest) $0 $0 $0 $0 Revenue Totals: $2,028,954 $1,889,469 $1,926,712 $2,063,821 Expenditures SALARIES $859,830 $890,193 $851,648 $893,701 BENEFITS $162,646 $158,935 $192,835 $165,077 PURCHASED SERVICES $330,521 $291,774 $338,672 $355,720 FACILITY RENT $282,423 $185,673 $214,023 $214,023 SUPPLIES & MATERIALS $38,755 $73,479 $76,793 $94,312 OTHER $7,407 $745 $1,850 $1,850 TRANSFERS AND OTHER USES $35,545 $0 $2,561 $3,013 CHANGE IN RESERVE REQUIREMENTS PLANNED USE OF/(CONTRIBUTIONS TO) EQUITY $0 $0 $0 $0 FOOD SERVICE $62,024 $40,772 $40,062 $41,344 Expenditure Totals $1,779,152 $1,641,570 $1,718,444 $1,769,041 RESERVES DESIGNATED TABOR 3% Emergency Reserve (4) $52,308 $47,700 $51,476 $52,981 Contingency Reserve $197,494 $200,200 $156,791 $241,800 ENDING FUND BALANCE $249,802 $247,900 $208,268 $294,780 Page 7 of 26

8 Surplus/ (Deficit) Surplus/ (Deficit) Surplus/ (Deficit) Northern Colorado Academy of Arts & Knowledge $139, ($1,903.00) $11, $46, General Fund - Revenues Actual Actual Projected Revised Configuration Kg-5 Kg-5 Kg-5 Kg-5 Total Pupils Funded Pupil Count # of full time kindergarteners funded at.58 fte FY16 PPOR $6, $7, $7, $7, /9/2017 5/9/ /2/2017 BEGINNING FUND BALANCE $109,988 $249,802 $196,990 $247, INVESTMENT INTEREST EARNINGS $125 $141 $155 $ FEES $ FEES - Preschool -$12, FEES - Kg $200 $76,848 $72,000 $85, FEES - kg - 5th grade Student Book/Technology Fee $18,606 $14,615 $19,162 $20, FEES - Camp Fundraising $12,046 $10,978 $16,000 $16, Fundraising - New Library $10, BEFORE/AFTER SCHOOL TUITION $2,602 $2,715 $2,500 $2, XXXX Various Local Grants $2,045 $0 $0 $ Donations for Music Program $1,236 $1,500 $1, Wellness FACILITY RENT $32,690 $168 $5,000 $27, FACILITY RENT - PRESCHOOL $77,865 $0 $0 $ CONTRIBUTIONS/DONATIONS $800 $470 $1,000 $1, MISCELLANEOUS -$2,679 -$2,774 $1,000 $1, DISTRICT PPOR (FY17 estimate based on current year's funding ) $1,592,971 $1,371,098 $1,475,461 $1,518,981 Reserve Refund $0 $0 $0 $0 Total Local Revenues $1,724,582 $1,486,660 $1,593,778 $1,675, ST CAP. CONSTRN FUNDING $59,350 $54,032 $50,675 $52, STATE SPEC ED FUNDING $13,851 $12,798 $8,984 $7, ESL GRANT $2,330 $2,161 $1,757 $1, ELPA PD $3,467 $3,105 $2,526 $2, GIFTED & TALENTED $8,092 $6,829 $4,340 $4,340 Page 8 of 26

9 Actual Actual Projected Revised READ Act $20,937 $10,994 $10,664 $15, At-Risk Funding $787 $797 $0 $ Gifted & Talented Universal Screening $318 $398 $0 $0 Total State Revenues $109,132 $91,114 $78,946 $83, TITLE I, PART A Homeless $203 $513 $513 $ TITLE II $0 $1,500 $1, TITLE III A $1,270 $1,158 $1,199 $1,490 IDEA-SPED PILOT $0 $ School Readiness $794 $0 $ Title III A, Supplemental Immigrant $0 $ Title IIIA, Immigrant $145 $565 $ FEDERAL REV. SPEC ED IDEA part B $20,960 $19,307 $13,584 $11,546 Total Federal Revenues $23,227 $21,122 $17,360 $15, SALES TO STUDENTS $16,273 $8,219 $8,000 $8, STATE START SMART $184 $79 $50 $ STATE REDUCED LUNCH REIMBURSEMENT $370 $482 $500 $ USDA COMMODITIES $7,417 $4,326 $4,326 $4, CHILD NUTRITION PROGRAM - BREAKFAST $5,942 $4,237 $3,700 $4, CHILD NUTRITION PROGRAM - LUNCH $24,213 $20,061 $20,500 $20, TRANSFER FROM GENERAL FUND $7,626 $3,368 $2,561 $3,013 Food Service Totals: $62,025 $40,772 $39,637 $41, LOAN PROCEEDS $0 $0 $0 $ TRANSFER IN FROM ENTERPRISE FUND $0 $0 $0 $0 Total Other Sources $0 $0 $0 $0 General Fund Revenues: $1,918,966 $1,639,667 $1,729,722 $1,815,922 General Fund Revenues (Including Beginning Fund Balance): $2,028,954 $1,889,469 $1,926,712 $2,063,821 Page 9 of 26

10 Surplus/ (Deficit) Surplus/ (Deficit) Surplus/ (Deficit) Surplus/ (Deficit) Northern Colorado Academy of Arts & Knowledge $139, ($1,903.00) $11, $46, General Fund - Expenditures Actual Actual Projected Revised Configuration Kg-5 Kg-5 Kg-5 Kg-5 Total Pupils Funded Pupil Count Per Pupil Expenditure $7, $8, $8, $8, /9/2017 5/9/ /2/ TEACHERS - Elementary $433, ,433 $428,601 $432, Teacher - Bonuses $500 $0 $8, TEACHER ASSISTANT - Elementary $19,450 $0 $ SUBSTITUTE PAY $14,077 $17,328 $18,000 $18, GT Coordinator $6,866 $0 $ GT Teacher $5,704 $4,290 $3, ELL Teacher $0 $ ELL Teacher $1,918 $1,902 $1,757 $1, TEACHERS - Specials $95,270 $114,962 $111,193 $112, READING INTERVENTIONIST 10, READING INTERVENTIONIST - READ ACT $18,630 $7,727 $10,664 $15, SPECIAL ED TEACHER $21,235 12,137 17,666 29, SPECIAL ED TEACHER - IDEA $10,470 $13,584 $11,546 IDEA SPED PILOT $0 $ Special Ed Teacher Assistant $0 $ Director of Exceptional Student Services $20,862 $0 $ Director of Exceptional Student Services - IDEA Part B $17,755 $0 $ Teacher - Support Services $18,166 $0 $ SCHOOL NURSE $6,430 $5,069 $5,636 $5, HEALTH AIDE $13,950 $9,078 $12,459 $12, Psychologist Services $12,337 $14,240 $14, Psychologist Services - At Risk $797 $0 $ SPEECH/LANGUAGE PATHOLOGIST $6,578 $8,829 $10,815 $12, SPEECH/LANGUAGE PATHOLOGIST IDEA Part B $3,206 $0 $ OCCUPATIONAL THERAPIST $4,587 $8,010 $8,214 $12, OCCUPATIONAL THERAPIST IDEA Part B $2,882 $0 $ CIS $0 $0 $0 Page 10 of 26

11 Actual Actual Projected Revised Administration $124, PRINCIPAL $90,167 $78,272 $117,233 $ CLERICAL & SUPPORT STAFF $79,535 $93,008 $52,668 $54, CUSTODIAL/MAINTENANCE STAFF $30,876 $24,795 $24,628 $24, Marketing - Extra Duty/Stipends $812 $0 $ Parent Involvement Stipend $271 Total Salaries $859,830 $890,193 $851,648 $893,701 Page 11 of 26

12 Actual Actual Projected Revised MED/SS TEACHERS - Elementary $32,735 $32,463 $32,788 $33, MED/FICA ELEMENTARY SUBSTITUTES $1,077 $1,136 $1,377 $1, MED/SS TEACHER ASSISTANTS $1,708 $0 $ MED/SS TEACHERS - Specials $7,106 $8,795 $8,506 $8, MED/SS GIFTED & TALENTED COORDINATOR $424 $0 $ MED/SS GIFTED & TALENTED TEACHER $589 $0 $ MED/SS ELL Teacher $0 $ MED/SS ELL $262 $179 $0 $ MED/SS READING INTERVENTIONIST $763 $0 $ MED/SS READING INTERVENTIONIST - READ ACT $74 $627 $0 $ MED/SS SPECIAL ED TEACH. $1,763 $929 $2,853 $3, MED/SS SPECIAL ED TEACH.- IDEA $654 $0 $ MED/SS Special Ed Teacher Assistant $0 $ MED/SS Teacher Support Services $1,390 $0 $ MED/SS Director of Exceptional Student Svcs $1,837 $0 $ MED/SS Director of Exceptional Student Svcs (IDEA Part B) $1,129 $0 $ MED/SS SCHOOL NURSE $963 $388 $431 $ MED/SS HEALTH AIDE $582 $694 $953 $ MED/SS Psychologist $1,005 $1,089 $1, MED/SS SPEECH/LANGUAGE PATHOLOGIST $502 $675 $827 $ MED/SS SPEECH/LANGUAGE PATHOLOGIST IDEA $246 $0 $ MED/SS OCCUPATIONAL THERAPIST $351 $613 $628 $ MED/SS OCCUPATIONAL THERAPIST IDEA Part B $220 $0 $ MED/SS CIS $0 $0 $ MED/SS ADMINISTRATIVE $9, MED/SS PRINCIPAL $7,039 $5,988 $8,968 $ MED/SS CLERICAL & SUPPORT STAFF $5,899 $7,115 $4,029 $4, MED/SS CUSTODIAL/MAINTENANCE STAFF $2,349 $1,897 $1,885 $1, Marketing - Extra Duty/Stipends $62 $0 $ MED/SS Parent Involvement Stipend $21 PERA Total FICA $64,120 $68,129 $64,336 $67,877 Page 12 of 26

13 Actual Actual Projected Revised k TEACHERS $1,009 $689 $8,572 $8, k TEACHER ASSISTANTS $0 $ k ELEMENTARY SUBSTITUTES $0 $ k TEACHERS - Specials $116 $563 $2,224 $2, k TEACHERS - Gifted & Talented $7 $0 $ k ELL Teacher $0 $ k READING INTERVENTIONIST $0 $ k READING INTERVENTIONIST - READ ACT $0 $ k SPECIAL ED TEACHER $43 $746 $ k SPECIAL ED TEACHER- IDEA $0 $ k Special Ed Teacher Aides $0 $ k Teacher Support Services $0 $ k Exceptional Student Services Director $0 $ k SCHOOL NURSE $0 $ k HEALTH AIDE $32 $249 $ k Pyschologist $0 $ k SPEECH/LANGUAGE PATHOLOGIST $0 $ k OCCUPATIONAL THERAPIST $0 $ k CIS $15 $0 $ k Administrative $2, k PRINCIPAL $106 $2,344 $ k CLERICAL & SUPPORT STAFF $924 $916 $875 $ k CUSTODIAL/MAINTENANCE STAFF $230 $248 $493 $488 Total Retirement $2,481 $2,416 $15,503 $15,966 Page 13 of 26

14 Actual Actual Projected Revised Life Insurance - Teachers $ Life Insurance - Teacher Aides $ Life Insurance - Specials $ Life Insurance - GT $ Life Insurance - ELPA Life Insurance - Reading Interventionist Life Insurance - Reading Interventionist - Read Act $ Life Insurance - Special Ed. $ Life Insurance - Director of Exceptional Std Svcs Life Insurance - Director of Exceptional Std Svcs (IDEA Part B) Life Insurance - Teacher Support Services Life Insurance - Health Aide $ Life Insurance - Speech/Language Pathologist Life Insurance - Occupational Therapist Life Insurance - Administrative Life Insurance - Principal $ Life Insurance - Clerical & Support Staff $ Life Insurance - Custodial/Maintenance Staff $ Accidental Death & Dismemberment Teachers HEALTH INS. TEACHERS - Elementary $46,997 42,049 61,200 37, HEALTH INS. TEACHER ASSISTANTS - Elementary HEALTH INS. TEACHERS - Specials $14,096 15,039 15,300 16, HEALTH Ins. GT $ HEALTH INS. READING INTERVENTIONIST HEALTH INS. READING INTERVENTIONIST - READ ACT $2,192 2, HEALTH INS. SPECIAL ED TEACH $3, , Health Ins. Special Ed Teacher IDEA Part B $1, Health Ins. Director of Exception Student Services 3, Health Ins. Director of Exception Student Services (IDEA Part B) Health Ins. - Teacher Support Services 1, HEALTH INS. HEALTH AIDE $2, HEALTH INS. SPEECH/LANGUAGE PATHOLOGIST HEALTH INS. OCCUPATIONAL THERAPIST HEALTH INS. CIS $ Health Ins. Administrative 10, HEALTH INS. PRINCIPAL $5,816 6,479 10, HEALTH INS. CLERICAL & SUPPORT STAFF $7,997 3,678 10,200 5, HEALTH INS. CUSTODIAL/MAINTENANCE STAFF $5,588 5,314 5,100 5, DENTAL INS. TEACHERS $2,544 1,885 2,264 2, DENTAL INS. TEACHER ASSISTANTS DENTAL INS. TEACHERS - Specials $ Dental Ins. - GT $ Page 14 of 26

15 Actual Actual Projected Revised Dental Insurance - ELPA DENTAL INS. READING INTERVENTIONIST DENTAL INS. READING INTERVENTIONIST - READ ACT DENTAL INS. SPECIAL ED TEACH $ Dental Ins. Special Ed Teacher IDEA Part B $ Dental Ins. Director of Exceptional Std Svcs Dental Ins. Director of Exceptional Std Svcs (IDEA Part B) Dental Ins. - Teacher Support Services DENTAL INS. HEALTH AIDE $ DENTAL INS. SPEECH/LANGUAGE PATHOLOGIST DENTAL INS. OCCUPATIONAL THERAPIST DENTAL INS. CIS $ Dental Ins. Administrative DENTAL INS. PRINCIPAL $ DENTAL INS. CLERICAL & SUPPORT STAFF $ DENTAL INS. CUSTODIAL/MAINTENANCE STAFF $ Page 15 of 26

16 Actual Actual Projected Revised VISION INS. TEACHERS - Elementary $ VISION INS. TEACHERS - Specials $ VISION INS. TEACHER ASSISTANTS - Elementary Vision Ins. GT $ Vision Insurance - ELPA Vision Ins. Reading Interventionist VISION INS. READING INTERVENTIONIST - READ ACT $ VISION INS. SPECIAL ED TEACH $ Vision Ins. Special Ed Teacher IDEA Part B $ Vision Ins. Director of Exceptional Std Svcs Vision Ins. Director of Exceptional Std Svcs (IDEA Part B) Vision Ins. - Teacher Support Services VISION INS. HEALTH AIDE $ VISION INS. SPEECH/LANGUAGE PATHOLOGIST VISION INS. OCCUPATIONAL THERAPIST VISION INS. CIS $ Vision Ins. Administrative VISION INS. PRINCIPAL $ VISION INS. CLERICAL & SUPPORT STAFF $ VISION INS. CUSTODIAL/MAINTENANCE STAFF $ Total Employee Insurance $96,045 $88,390 $112,997 $81,234 Total Benefits $162,646 $158,935 $192,835 $165,077 Benefits as a % of Labor 19% 18% 23% 18% Total Salaries and Benefits $1,022,476 $1,049,128 $1,044,483 $1,058, Classroom Profesional Services $120 Page 16 of 26

17 Actual Actual Projected Revised ASSESSMENTS $3,024 $2,019 $3,750 $5, CONTRACT LABOR - INSTRUCTION $0 $0 $ PLATTE VALLEY DETENTION CENTER $764 $728 $1,000 $1, ASSESSMENTS - SPECIAL EDUCATION $0 $200 $ SPECIAL EDUCATION SVCS $426 $232 $0 $ NURSING SERVICES $0 $0 $ PSYCHOLOGICAL SERVICES $14,138 $2,500 $0 $ SPEECH/LANGUAGE SERVICES $0 $0 $ OCCUPATIONAL THERAPY SERVICES $0 $0 $ SPED CONTRACT PUPIL SERVICES-IDEA $1,925 $0 $ PROFESSIONAL INST. MGMT Professional Svcs $3, Professional Development $1,497 $10,700 $0 $5, Contract Labor - Special Ed. $115 $230 $ Contract Labor - ELPA PD $992 $1,276 $ Professional Development - Title IIIA $1, Employee Training & Development Services $0 $375 $1,250 $1, Employee Training & Development Services $2,755 $2,925 $1,500 $1, ACCOUNTING DISTRICT FEE - CDE $6,608 $2,228 $7,377 $7, AUTHORIZER FEE - CSI $23,413 $26,095 $44,264 $45,569 CSI Rebate LEGAL SERVICES $4,427 $1,301 $6,000 $6, AUDIT SERVICES $15,150 $7,625 $7,900 $7, PROFESSIONAL MGMT. SERVICES $102,693 $96,000 $96,000 $96, Contract Labor - Admin $155 $1,758 $0 $ CONTRACT LABOR - ADMIN $0 $0 $ BANKING /3% CREDIT CARD DISCOUNT / PAYING AGENT SERV $5,750 $5,140 $6,200 $6, Contracted Educational Professional Svcs $1,783 $1,439 $35,720 $35, Professional Svcs $9,437 $16,930 $20,000 $24, BACKGROUND CHECKS $574 $596 $1,000 $1, PERMITS $0 $0 $ PAYROLL SERVICES ACCOUNTING CONTRACT LABOR - IT $450 $0 $ PROFESSIONAL MARKETING $7,586 $10,020 $10,000 $10,000 Total Professional Contracted Services $208,449 $188,730 $243,667 $255,772 Page 17 of 26

18 Actual Actual Projected Revised WATER/SEWAGE $6,130 $5,520 $0 $ DISPOSAL SERVICE $679 $28 $0 $ SNOW REMOVAL $2,982 $0 $ LAWN CARE $930 $0 $ REPAIRS & MAINTENANCE FACILITY $18,077 $24,485 $0 $1, REP/MAINT. EQUIPMENT $2,005 $2,000 $2, FACILITY RENT/BUILDING LEASE $223,074 $113,283 $161,409 $159, FACILITY RENT/BUILDING LEASE - Cap Const Grant $59,350 $54,032 $50,675 $52, ENROLLMENT RENT $1,939 $1, EQUIPMENT RENTAL - COPIER/PHONES/POSTAGE METER $20,297 $18,357 $18,487 $18, NATURAL GAS / ELECTRICITY $21,384 $18,480 $1,500 $1, SECURITY SERVICES $426 $90 $0 $0 CAM Payments to CEC $0 $0 $0 Utility Payments to CEC $0 $0 $0 Total Property Related Services $355,332 $234,275 $236,010 $237, Staff Development - Spec Ed $ STAFF DEVELOPMENT FEES/TRAVEL $8, ,600 10, STAFF DEVELOPMENT FEES/TRAVEL - Title II $0 1,199 1, ELPA PD $ Staff Development - Title IIIA,Supplemental Immigrant Staff Develepment - Title IIIA, Immigrant BOARD OF DIRECTORS TRAVEL, RE $ POSTAGE $ PRINTING, BINDING, DUPLICATION $ ADMIN TRAVEL, REGISTRATION $ ,000 2, TELEPHONE $6,881 7,640 7,600 7, INTERNET ONLINE SERVICE -$7,113 1,667 1,509 1, INSURANCE (MULTIPLE COVERAGE) $14,517 15,376 15,400 18, ADVERTISING/RECRUITING $ UNEMPLOYMENT INSURANCE $15,757 14,513 21,881 24, WORKERS COMP INSURANCE $9,724 13,728 14,764 8,978 Total Other Purchased/Contracted Services $49,163 $54,441 $73,018 $76,461 Page 18 of 26

19 Actual Actual Projected Revised CAPITAL OUTLAY - FURNISHINGS $0 $0 $ CAPITAL OUTLAY - TECHNOLOGY $0 $0 $ GENERAL INSTRUCTIONAL SUPPLIES - Elementary $2,380 $834 $4,500 $4, Supplies - Wellness Grant $ Supplies - Homeless Title IA $ School Readiness Supplies $794 $0 $ Software - Classroom $4,398 $1,700 $2, SUPPLIES - GENERAL INSTRUCTIONAL $ ELPA Supplies G & T INSTRUCTIONAL SUPPLIES $0 $0 $ Homeless Supplies - Title IA $203 $513 $ XXXX Various Local Grants $0 $0 $ TEXTBOOKS/CURRICULUM $4,832 $19,115 $25,000 $25, Non-Capital Expenses $4,948 $12,124 $15,000 $25, Supplies GT $219 $50 $50 $ Supplies GT $318 $398 $0 $ ART SUPPLIES Supplies - ELPA PD $ Supplies - ELPA $3,900 $0 $ MUSIC SUPPLIES $443 $500 $1, Music Supplies - Next Grant $1, Music Supplies - Kayla Foundation $ SPECIAL EDUCATION SUPPLIES $0 $500 $ Library Supplies $1,500 $3, Library Books $3,500 $5, Instructional Improvement Books $3 $0 $ Instructional Improvement Books - Title IIIA, Immigrant $ HEALTH, MEDICAL,SAFETY SUPPLIES $105 $355 $300 $ STAFF DEVELOPMENT SUPPLIES $1,359 $1,162 $700 $ Staff Development - ELPA $0 $2,730 $0 $ Library Supplies $8,006 $ Library Books $329 $ GENERAL OFFICE SUPPLIES $9,303 $6,744 $10,500 $10, SOFTWARE - POWERSCHOOL/ALPINE/FIREWALL $6,736 $6,464 $6,530 $7, Computer Equipment $1, JANITORIAL SUPPLIES $3,209 $5,466 $6,000 $6, Supplies - Parent Involvement $ PARENTAL INVOLVEMENT $866 $0 $0 Total Supplies and Materials $38,755 $73,479 $76,793 $94,312 Page 19 of 26

20 Actual Actual Projected Revised INSTRUC. DUES & FEES $0 $0 $ Travel - Staff Development Board of Directors $361 $ BOARD OF DIRECTORS DUES & FEE $0 $20 $0 $ BOARD MISCELLANEOUS EXP. $422 $500 $ ADMIN DUES & FEES $310 $1,200 $1, ADMIN MISCELLANEOUS EXP. $41 $25 $150 $ ASSOCIATION DUES $843 $0 $ BAD DEBT EXPENSE $0 $0 $ Building & Improvements $1, Building Improvement - Professional Svcs $3,500 $0 $ SHORT TERM INTEREST $0 $0 $0 Total Dues/Fees/Miscellaneous Expenditures $7,407 $745 $1,850 $1,850 Page 20 of 26

21 Actual Actual Projected Revised FOOD SVC STAFF $8,953 $5,512 $2,586 $2, Life Insurance - Food Staff $4 $0 $ MED/FICA FOOD SVC STAFF $685 $422 $628 $ HEALTH INS. FOOD SVC STAFF $0 $0 $ DENTAL INS. FOOD SVC STAFF $0 $0 $ PERA FOOD SERVICE $ VISION INS. FOOD SVC STAFF $0 $0 $ K FOOD SVC STAFF $5 $52 $ BANK SERVICE FEES $ AUTHORIZER FEE - Breakfast $285 $138 $150 $ AUTHORIZER FEE - Lunch $1,382 $970 $1,100 $1, Professional Svcs - Food $38,890 $25,820 $26,000 $27, CONTRACTED FOOD MANAGEMENT SERVICES $647 $ Commodities Expense $5,942 $4,326 $4,326 $4, NON-FOOD SUPPLIES $1,419 $1,500 $1, FOOD SUPPLIES $0 $20 $ MILK $4,459 $2,938 $3,700 $3, USDA COMMODITIES FEES $0 $0 $ USDA COMMODITIES $0 $ CAPITAL OUTLAY $0 $0 $0 Food Service Totals: $62,024 $40,772 $40,062 $41, NOTE INTEREST $ NOTE PRINCIPAL Contigency Reserve Transfer from Fund 11 to balance food service Transfer from Fund TRANSFER TO FOOD SERVICE FUND $0 $0 $2,561 $3,013 Loan Repayment $35,000 Total Transfers and Other Uses of Funds $35,545 $0 $2,561 $3,013 Total Expenditures: $1,779,152 $1,641,570 $1,718,444 $1,769,041 Surplus/(Deficit) $139,814 ($1,903) $11,278 $46,881 Surplus/(Deficit) Including Beginning Fund Balance $249,802 $247,900 $208,268 $294,780 Page 21 of 26

22 A B F G H I J K Northern Colorado Academy of Arts & Knowledge 74 STUDENT ACTIVITY FUND Actual Projection Budget 1st Draft Budget 2nd Draft Budget Estimated Year-End Projected Budget 2/17/2016 8/31/ /14/2016 2/15/2017 2/15/2017 BEGINNING FUND BALANCE $26,110 $22,031 $29,763 $29,763 $29,763 $13,917 Revenues Investment Income $7 $12 $12 $14 $14 $ Activity Revenue $11,042 $24,000 $24,000 $23,500 $2,700 $5, BOOK FAIR $2,852 $2,000 $2,000 $2,800 $2,904 $3, FIELD TRIP FEES $7,769 $8,000 $8,000 $2,000 $2,500 $3, FUNDRAISERS & MISCELLANEOUS $10,569 $5,000 $5,000 $1,000 $100 $ UNIFORM SALES $0 $0 $0 $0 $ Run/Walk Club $90 $500 $200 $ Playground Fundraiser $0 $ Student Council $0 $ Spanish Club $325 $200 Total Revenues $32,654 $39,012 $39,012 $29,814 $8,418 $12,114 Total Revenues including Beginning Fund Balance $58,764 $61,043 $68,775 $59,577 $38,181 $26, STIPENDS $0 $0 $0 $6,748 $6,748 $ MED/SS STIPENDS $0 $0 $0 $516 $516 $ FUNDRAISER SUPPLIES $397 $14,012 $14,012 $8,000 $2,500 $2, Activity FD $16,409 $16,820 $16,820 $12,000 $12,000 $7, Yearbook $2, Field Trips $10,013 $8,000 $8,000 $6,000 $2,500 $2, UNIFORMS REPAIR & MAINTENANCE FACILITY BANKING SERVICE FEES $0 $180 $180 $10 $10 Total Expenditures $29,001 $39,012 $39,012 $33,274 $24,264 $12,114 Surplus/(Deficit) $3,653 $0 $0 ($3,460) ($15,846) $0 Surplus/(Deficit) including Beginning Fund Balance $29,762 $22,031 $29,763 $26,303 $13,917 $13,917 Page 22 of 26

23 FY SUMMARY BUDGET TR Paul Academy of Arts & Knowledge District Code: 953 Revised Adopted: June 30, 2017 Budgeted Pupil Count: Object Source 11 Charter School Fund 74 Pupil Activity Agency TOTAL Beginning Fund Balance (Includes All Reserves) 247,900 13, ,816 Revenues Local Sources ,490 12, ,604 Intermediate Sources State Sources ,603,574-1,603,574 Federal Sources ,844-44,844 Total Revenues 1,812,909 12,114 1,825,023 Total Beginning Fund Balance and Reserves 2,060,808 26,031 2,086,839 Total Allocations To/From Other Funds 5600,5700, Transfers To/From Other Funds ,013-3,013 Other Sources 5100,5400, 5500,5900, 5990, Available Beginning Fund Balance & Revenues (Plus Or Minus (If Revenue) Allocations And Transfers) 2,063,821 26,031 2,089,852 Expenditures Instruction - Program 0010 to 2099 Salaries , ,481 Employee Benefits , , ,304 2,510 9,814 Supplies and Materials ,600 $9,604 45,204 Property ,000-25,000 Other 0800, Total Instruction 817,712 12, ,826 Supporting Services Students - Program 2100 Salaries 0100 $57,462-57,462 Employee Benefits ,653-4, Supplies and Materials Other 0800, Total Students 62,515-62,515 Instructional Staff - Program 2200 Salaries Employee Benefits ,668-20,668 Supplies and Materials ,285-9,285 Other 0800, Total Instructional Staff 29,953-29,953 General Administration - Program 2300, including Program 2303 and 2304 Salaries Employee Benefits , ,064 Supplies and Materials

24 Other 0800, Total School Administration 163, ,564 School Administration - Program 2400 Salaries , ,361 Employee Benefits ,095-35, ,200-3,200 Supplies and Materials ,027-18,027 Other 0800, ,350-1,350 Total School Administration 237, ,033 Business Services - Program 2500, including Program 2501 Salaries Employee Benefits ,033-67,033 Supplies and Materials Other 0800, Total Business Services 67,033-67,033 Operations and Maintenance - Program 2600 Salaries ,398-24,398 Employee Benefits ,514-7, , ,910 Supplies and Materials ,000-6,000 Other 0800, Total Operations and Maintenance 284, ,822 Student Transportation - Program 2700 Salaries Employee Benefits Supplies and Materials Other 0800, Total Student Transportation Central Support - Program 2800, including Program 2801 Salaries Employee Benefits ,382-43,382 Supplies and Materials Other 0800, Total Central Support 43,382-43,382 Other Support - Program 2900 Salaries Employee Benefits Supplies and Materials Other 0800, Total Other Support Food Service Operations - Program 3100 Salaries ,408-2,408 Employee Benefits ,750-28,750 Supplies and Materials ,546-9,546

25 Other 0800, Total Other Support 41,344-41,344 Enterprise Operations - Program 3200 Salaries Employee Benefits Supplies and Materials Other 0800, Total Enterprise Operations Community Services - Program 3300 Salaries Employee Benefits Supplies and Materials Other 0800, Total Community Services Education for Adults - Program 3400 Salaries Employee Benefits Supplies and Materials Other 0800, Total Education for Adults Services Total Supporting Services 929, ,646 Property - Program 4000 Salaries Employee Benefits Supplies and Materials Other 0800, Total Property Other Uses - Program 5000s - including Transfers Out and/or Allocations Out as an expenditure Salaries 0100 N/A N/A N/A Employee Benefits 0200 N/A N/A N/A 0500 N/A N/A N/A Supplies and Materials 0600 N/A N/A N/A Property 0700 N/A N/A N/A Other 0800, , Total Other Uses 3,013-3,013 Total Expenditures 1,750,371 12,114 1,762,485 APPROPRIATED RESERVES Other Reserved Fund Balance (9900) Other Restricted Reserves (932X) Reserved Fund Balance (9100) District Emergency Reserve (9315) Reserve for TABOR 3% (9321) Reserve for TABOR - Multi-Year Obligations (9322) Total Reserves Total Expenditures and Reserves 1,750,371 12,114 1,762,485 BUDGETED ENDING FUND BALANCE Non-spendable fund balance (9900) Restricted fund balance (9990)

26 TABOR 3% emergency reserve (9321) ,981-52,981 TABOR multi year obligations (9322) District emergency reserve (letter of credit or real estate) (9323) Colorado Preschool Program (CPP) (9324) Full day kindergarten reserve (9325) Risk-related / restricted capital reserve (9326) BEST capital renewal reserve (9327) Committed fund balance (9900) Committed fund balance (15% limit) (9200) Assigned fund balance (9900) Unassigned fund balance (9900) ,469 13, ,386 Net investment in capital assets (9900) Restricted net position (9900) Unrestricted net position (9900) Total Ending Fund Balance 313,450 13, ,367 Total Available Beginning Fund Balance & Revenues Less Total Expenditures & Reserves Less Ending Fund Balance (Shall Equal Zero (0)) 0-0 Use of a portion of beginning fund balance resolution required? No No No