New Foundations Charter School. Financial Operations Report

New Foundations Charter School Financial Operations Report June 30, 2017

Balance Sheet June 2017 ASSETS June 2017 May 2017 Current Assets Checking/Savings Cash 8,024,255 7,624,221 Accounts Receivable 172,150 201,736 Due from School District of Philadelphia 51,327 95,353 Due From Federal 56,216 Due from Commonwealth 240,648 10,830 Credit Cards to be Allocated - 43,834 Prepaid Rent Prepaid Expenses 238,764 159,248 Retainers 7,789 7,789 Total Current Assets 8,791,149 8,143,011 Deferred Outflows GASB 68 3,593,006 3,593,006 Fixed Assets Building Improvements 225,696 252,560 Furniture, Software and Computers 311,388 449,264 Total Fixed Assets 537,084 701,824 TOTAL ASSETS 12,921,238 12,437,841 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 279,612 305,355 Due to SDP 286,551 246,404 Due to PSERS & Other Payroll Items 428,160 662,492 Due to Food Service Gain Contingencies 714,091 - Due to Student Activities 266,168 194,924 Salaries & Benefits Payable 1,070,843 Claims and Judgements Payable 10,092 10,092 Deferred Revenue 25,002 1,080 Total Current Liabilities 3,080,519 1,420,347 Deferred Inflows GASB 68 890,000 890,000 Net Pension Liability 17,982,000 17,982,000 Total Liabilities 21,952,519 20,292,347 Equity Available for Appropriation FY 2016 250,000 250,000 Investment in Fixed Assets 537,084 701,824 Reserved for Covenant & Capital Improvemants 3,184,763 3,184,763 Net Pension Liability (17,982,000) (17,982,000) Unrestricted 4,221,062 4,056,322 Net Income 757,810 1,934,585 Total Equity (9,031,281) (7,854,506) TOTAL LIABILITIES & EQUITY 12,921,238 12,437,841 1

Fund Balance Appropriated by the BOT 250,000 250,000 Summary by Function Revenues School District Subsidy 14,559,625 14,346,956 14,346,956 14,325,095 (21,860) Other Local 537,476 502,363 502,363 650,877 148,514 State 183,208 268,916 268,916 338,148 69,232 Federal 1,140,304 1,144,405 1,144,405 1,158,031 13,626 Total Revenue 16,420,613 16,262,639 16,262,639 16,472,151 209,512 Expenditures Instruction Regular Education 7,979,104 7,513,604 7,513,604 7,269,269 244,335 Special Programs 1,054,228 934,728 934,728 991,606 (56,878) Tutoring/Summer School 133,082 114,582 114,582 73,013 41,569 Support Services Guidance 335,122 345,122 345,122 329,485 15,637 Social Worker 87,910 76,910 76,910 69,871 7,039 Psychological Services 66,168 78,168 78,168 79,547 (1,379) Library Services 126,189 156,189 156,189 135,851 20,338 Curriculum 152,792 142,775 142,775 129,178 13,597 Professional Development 165,531 144,531 144,531 124,031 20,500 Other Support Services 184,274 217,774 217,774 182,561 35,213 Legal Services 118,684 136,184 136,184 193,113 (56,929) Office of the CEO 232,042 239,497 239,497 240,461 (964) Administrative 1,489,726 1,323,726 1,323,726 1,334,625 (10,899) Pupil Health 206,275 212,275 212,275 202,935 9,340 Business 218,908 221,508 221,508 191,484 30,024 Printing/Copying 91,727 97,727 97,727 89,812 7,915 Building Services 3,181,373 2,994,374 2,994,374 3,129,629 (135,254) Technology 232,665 250,165 250,165 250,106 59 Noninstructional Services Student Activities 605,758 624,758 624,758 697,764 (73,006) Total Expenditures 16,661,561 15,824,600 15,824,600 15,714,342 110,258 Revenues Over (Under) Expenditures (240,948) 438,039 438,039 757,810 319,770 Summary by Major Class Salaries 7,073,596 6,891,834 6,891,834 6,801,133 90,701 43.55% Benefits 4,046,251 3,733,951 3,733,951 3,479,540 254,411 23.60% Professional Services 834,599 954,099 954,099 1,043,094 (88,995) 6.03% Building Services 2,596,740 2,416,241 2,416,241 2,380,799 35,443 15.27% Other Purchased Services 546,670 497,270 497,270 567,101 (69,831) 3.14% Supplies and Books 1,196,208 1,117,208 1,117,208 1,083,038 34,170 7.06% Equipment 367,497 213,997 213,997 359,638 (145,640) 1.35% 16,661,561 15,824,600 15,824,600 15,714,342 110,258 100% 2

1 Fund Balance Appropriated by the BOT 250,000 250,000 1 2 2 3 Revenues 3 4 4 5 School District Subsidy 5 6 Regular Education 10,848,720 10,811,860 10,811,860 10,760,857 (51,003) 6 7 Special Education 3,573,467 3,347,658 3,347,658 3,346,972 (685) 7 8 Non-Resident 137,438 187,438 187,438 217,266 29,828 8 9 14,559,625 14,346,956 14,346,956 14,325,095 (21,860) 9 10 Other Local 10 11 Bank Interest 2,888 1,388 1,388 1,731 343 11 12 Erate 25,125 31,012 31,012 39,732 8,720 12 13 Extended Day Fees/Summer School 167,479 167,479 167,479 135,530 (31,949) 13 14 IDEA 140,435 140,435 140,435 146,680 6,245 14 15 Local Grant 53,701 53,701 53,701 197,394 143,693 15 16 PSP Grant - - - - 16 17 Miscellaneous/Fundraising 60,853 50,853 50,853 77,288 26,435 17 18 Student Fees 86,995 57,495 57,495 52,522 (4,973) 18 19 537,476 502,363 502,363 650,877 148,514 19 20 Commonwealth 20 21 Health Services 10,938 10,938 10,938 22,701 11,763 21 22 Ready to Learn Grant 85,708 85,708 85,708-22 23 Rental & Sinking Fund Payments 172,270 172,270 172,270 229,739 57,469 23 24 183,208 268,916 268,916 338,148 69,232 24 25 Federal 25 26 Federal Entitlements 1,140,304 1,144,405 1,144,405 1,157,641 13,236 26 27 Access - 390 390 27 28 1,140,304 1,144,405 1,144,405 1,158,031 13,626 28 29 29 30 Total Revenues 16,420,613 16,262,639 16,262,639 16,472,151 209,512 30 31 31 32 Expenditures 32 33 Instruction 33 34 Regular Education 34 35 Salaries 4,528,746 4,381,746 4,381,746 4,312,500 69,246 35 36 Employee Benefits 2,648,542 2,539,542 2,539,542 2,396,156 143,386 36 37 Contracted Services 11,086 6,086 6,086 3,150 2,936 37 38 Other Purchased Services 12,607 12,607 12,607 6,369 6,238 38 39 Supplies 129,581 106,081 106,081 133,328 (27,247) 39 40 Books 252,067 268,567 268,567 252,819 15,748 40 41 Software 134,533 83,533 83,533 77,122 6,411 41 42 Furniture & Equipment 67,152 56,152 56,152 41,847 14,305 42 43 Technology 194,791 59,291 59,291 45,978 13,313 43 44 7,979,104 7,513,604 7,513,604 7,269,269 244,335 44 45 Special Programs 45 46 Salaries 478,314 423,314 423,314 410,964 12,350 46 47 Employee Benefits 273,628 184,128 184,128 164,783 19,345 47 48 APS 77,500 62,500 62,500 64,239 (1,739) 48 49 Professional Services 155,748 240,748 240,748 279,730 (38,982) 49 50 Other Purchased Services 60,843 10,843 10,843 61,698 (50,855) 50 51 Supplies and Books 8,195 13,195 13,195 10,192 3,003 51 52 1,054,228 934,728 934,728 991,606 (56,878) 52 53 Other Instructional Programs 53 54 Salaries 81,383 77,883 77,883 53,601 24,282 54 55 Employee Benefits 31,942 28,442 28,442 17,913 10,529 55 56 Professional Services 5,603 3,603 3,603 1,500 2,103 56 57 Other Purchased Services 5,282 1,282 1,282 1,282 57 58 Supplies 8,873 3,373 3,373 3,373 58 59 133,082 114,582 114,582 73,013 41,569 59 60 60 61 Total Instruction 9,166,415 8,562,915 8,562,915 8,333,888 229,026 61 62 62 63 Support Services 63 3

64 Counseling 64 65 Salaries 209,092 215,592 215,592 211,844 3,748 65 66 Employee Benefits 126,030 129,530 129,530 117,641 11,889 66 67 335,122 345,122 345,122 329,485 15,637 67 68 Social Worker 68 69 Salaries 55,238 55,238 55,238 53,065 2,173 69 70 Employee Benefits 32,672 21,672 21,672 16,806 4,866 70 71 87,910 76,910 76,910 69,871 7,039 71 72 Psychological Services 72 73 Professional Services 66,168 78,168 78,168 79,547 (1,379) 73 74 66,168 78,168 78,168 79,547 (1,379) 74 75 Library Services 75 76 Salaries 80,990 80,990 80,990 77,863 3,127 76 77 Employee Benefits 42,779 42,779 42,779 37,918 4,861 77 78 Supplies & Books 2,420 32,420 32,420 20,070 12,350 78 79 Furniture & Equipment 0 0 0 79 80 126,189 156,189 156,189 135,851 20,338 80 81 Curriculum 81 82 Salaries 101,832 87,815 87,815 86,034 1,781 82 83 Employee Benefits 50,960 54,960 54,960 43,144 11,816 83 84 152,792 142,775 142,775 129,178 13,597 84 85 Professional Development 85 86 Salaries 57,217 48,217 48,217 45,976 2,240 86 87 Employee Benefits 68,157 50,157 50,157 37,501 12,656 87 88 Professional Services 18,937 26,437 26,437 19,950 6,487 88 89 Travel & Conferences 12,010 15,510 15,510 19,902 (4,392) 89 90 Supplies 9,210 4,210 4,210 702 3,508 90 91 165,531 144,531 144,531 124,031 20,500 91 92 Other Support 92 93 Salaries 114,286 144,286 144,286 121,113 23,173 93 94 Employee Benefits 69,988 73,488 73,488 61,448 12,040 94 95 184,274 217,774 217,774 182,561 35,213 95 96 Legal and Audit Services 96 97 Audit Services 34,873 32,373 32,373 30,000 2,373 97 98 Legal Services 83,811 103,811 103,811 163,113 (59,302) 98 99 Losses and Judgements - - - 99 100 118,684 136,184 136,184 193,113 (56,929) 100 101 Office of CEO 101 102 Salaries 158,745 175,000 175,000 175,190 (190) 102 103 Employee Benefits 73,297 64,497 64,497 65,271 (774) 103 104 Professional Services - - - 104 105 232,042 239,497 239,497 240,461 (964) 105 106 Administrative 106 107 Salaries 648,352 663,352 663,352 673,512 (10,160) 107 108 Employee Benefits 353,566 308,566 308,566 293,524 15,042 108 109 Professional Services 111,020 95,520 95,520 108,538 (13,018) 109 110 Other Purchased Services - 110 111 Insurance 113,440 113,440 113,440 104,156 9,284 111 112 Postage 14,275 9,775 9,775 6,076 3,699 112 113 Telephone 17,219 12,219 12,219 9,345 2,874 113 114 Advertising 5,158 2,658 2,658 528 2,130 114 115 Travel 5,847 5,847 5,847 6,891 (1,044) 115 116 Dues & Subscriptions 8,128 8,128 8,128 7,497 631 116 117 Other 20,925 8,425 8,425 57,860 (49,435) 117 118 Supplies 47,263 57,763 57,763 54,487 3,276 118 119 Administrative Software 134,533 23,033 23,033 8,290 14,743 119 120 Furniture & Equipment 5,000 5,000 5,000 3,006 1,994 120 121 Technology 5,000 10,000 10,000 915 9,085 121 122 1,489,726 1,323,726 1,323,726 1,334,625 (10,899) 122 123 Pupil Health 123 124 Salaries 125,554 125,554 125,554 122,780 2,774 124 125 Employee Benefits 71,259 74,759 74,759 70,591 4,168 125 126 Professional Services 4,197 4,197 4,197 3,087 1,110 126 4

127 Supplies 5,264 7,764 7,764 6,477 1,287 127 128 206,275 212,275 212,275 202,935 9,340 128 129 Business 129 130 Business Services 189,527 189,527 189,527 167,032 22,495 130 131 Payroll Services 13,603 16,103 16,103 13,991 2,112 131 132 Other 2,122 2,222 2,222 2,515 (293) 132 133 Software Hosting and Amortization 13,657 13,657 13,657 7,946 5,711 133 134 218,908 221,508 221,508 191,484 30,024 134 135 Printing/Copying 135 136 Printing 17,642 19,142 19,142 17,428 1,714 136 137 Supplies 20,316 29,316 29,316 24,922 4,394 137 138 Equipment 53,769 49,269 49,269 47,462 1,807 138 139 91,727 97,727 97,727 89,812 7,915 139 140 Building Operations 140 141 Salaries 103,865 94,865 94,865 92,962 1,903 141 142 Employee Benefits 62,923 60,923 60,923 47,927 12,996 142 143 Professional Services 67,418 51,918 51,918 51,297 621 143 144 Property Services - - - 144 145 Custodial 157,339 153,339 153,339 148,730 4,609 145 146 Rent 2,201,499 2,031,000 2,031,000 2,013,000 18,000 146 147 Utilities 35,241 36,741 36,741 42,538 (5,797) 147 148 Maintenance & Repairs 131,142 123,642 123,642 123,309 333 148 149 Trash 22,748 22,748 22,748 17,356 5,392 149 150 Lawn Care & Snow Removal 37,166 37,166 37,166 31,214 5,952 150 151 Extermination Services 6,604 6,604 6,604 2,925 3,679 151 152 Other Purchased Property Services 5,000 5,000 5,000 1,727 3,273 152 153 Supplies - Gas & Electric 286,571 311,571 311,571 310,658 913 153 154 Supplies 33,844 28,844 28,844 27,803 1,041 154 155 Furniture & Equipment 30,012 30,012 30,012 218,183 (188,171) 155 156 3,181,373 2,994,374 2,994,374 3,129,629 (135,254) 156 157 Central Information Technology 157 158 Professional Services 86,211 121,711 121,711 136,150 (14,439) 158 159 Internet Services 68,292 71,792 71,792 69,660 2,132 159 160 Supplies 25,750 5,250 5,250 3,068 2,182 160 161 Software 40,639 47,139 47,139 38,981 8,158 161 162 Technology 11,774 4,274 4,274 2,247 2,027 162 163 232,665 250,165 250,165 250,106 59 163 164 164 165 Total Support Services 6,889,388 6,636,927 6,636,927 6,682,689 (45,763) 165 166 166 167 Non Instructional Activities 167 168 After School Programs/Extra Curricular 168 169 Salaries 329,982 317,982 317,982 363,729 (45,747) 169 170 Employee Benefits 140,508 100,508 100,508 108,917 (8,409) 170 171 Other Purchased Services 91,778 124,778 124,778 118,946 5,832 171 172 Supplies 43,492 81,492 81,492 106,172 (24,680) 172 173 Furniture & Equipment - - - 173 174 605,758 624,758 624,758 697,764 (73,006) 174 175 175 176 Non Instructional Activities 605,758 624,758 624,758 697,764 (73,006) 176 177 177 178 Total Expenditures 16,661,561 15,824,600 15,824,600 15,714,342 110,258 178 179 179 180 Excess of Revenue over Expenditures (240,948) 438,039 438,039 757,810 319,770 180 181 181 182 Contribution to Reserve 182 183 183 184 Excess of Revenue over Expenditures (240,948) 438,039 438,039 757,810 319,770 184 185 185 5

New Foundations Charter School Cash Flow Statement June 30, 2017 Opening Cash Balance (3/31/17) 7,043,924 Revenues School District 3,828,134 Federal 406,170 State 252,411 Other Local 247,387 Total Revenues 4,734,102 Disbursements Payroll & Benefits 1,638,142 General Disbursements 1,428,485 Debt Service/Rent 687,144 Total Disbursements 3,753,771 Net Change in Cash 980,331 Ending Cash Balance (6/30/17) 8,024,255