Robert Russa Moton Charter School New Orleans, Louisiana

Robert Russa Moton Charter School New Orleans, Louisiana Proposed Annual Operating Budget For the Period July 1, 2018 through June 30, 2019 and Annual Operating Budget For the Period July 1, 2017 through June 30, 2018 Mr. Meredith Johnson Treasurer Mrs. Tarynesa Williams Principal Prepared by the Finance Department

New Orleans, Louisiana TABLE OF CONTENTS Most Important Features 1 GENERAL FUND Budget Summary by Function. 2 Budget Summary by Object 3 Instruction: Regular Programs Expenditures. 4 Special Education Programs Expenditures. 5 Other Instructional Programs Expenditures 6 Special Programs Expenditures. 7 Support Services Programs: Pupil Support Services Expenditures. 8 Instructional Staff Services Expenditures 9 General Administration Expenditures. 10 School Administration Expenditures.. 11 Business Services Expenditures. 12 Operation and Maintenance of Plant Services Expenditures 13 Student Transportation Services Expenditures 14 Operation of Non-Instructional: Food Services Operations Expenditures 15 SPECIAL REVENUE FUND Budget Summary by Function. 16 Budget Summary by Object 17 Budget Summary by Grant or Total Revenue.. 18 Grants to Local Education Agencies - Title I 19 Teacher and Principal Training & Recruitment Fund - Title II (Part A). 20 Safe and Drug-Free Schools and Communities - State Grants - Title IV 21 LA-4 Federal (TANF).. 22 LA-4 State 23 Special Education (IDEA) 24 Special Education (Pre-School). 25 Education Excellence Fund. 26

ANNUAL OPERATING BUDGET Fiscal Year 2018-2019 Most Important Features (1) The following shows the amounts and percentages of revenues and expenditures by sources and functions, respectively: General Revenues Special Revenue Fund Fund Total Percentage Local $ 2,404,644 $ - $ 2,404,644 54.3% State 1,452,863 83,347 1,536,210 34.7% Federal - 483,587 483,587 10.9% $ 3,857,507 $ 566,934 $ 4,424,441 100.0% Expenditures General Special Revenue Fund Fund Total Percentage Instruction $ 2,367,958 $ 554,506 $ 2,922,464 55.9% Pupil Support 112,370-112,370 2.2% Instructional Staff Services 544,787-544,787 10.4% General Administration 140,250-140,250 2.7% School Administration 308,708-308,708 5.9% Business Services 255,118-255,118 4.9% Maintenance of Plant 615,406-615,406 11.8% Student Transportation 300,000-300,000 5.7% Others 7,000 18,933 25,933 0.5% Total $ 4,651,597 $ 573,439 $ 5,225,036 100.0% (2) Original Minimum Foundation Program (MFP) funding was based on enrollment of 313 students. However, enrollment is projected to increase to 430 students at October 2018 and therefore the school estimate increased MFP funding of approximate $1,030,000 and this budget includes this amount. (3) Due to increased enrollment, this budget reflects a substantial increase in instruction and maintenance of building expenditures. 1

Robert Russa Moton Charter School New Orleans, Louisiana General Fund Budget For the Period July 1, 2018 - June 30, 2019

General Fund Budget Fiscal Year 2018-2019 Budget Summary by Function Actual Budget Budget Over/(Under) Percent 2017-2018 2017-2018 2018-2019 2017-2018 of Change Revenues Local: MFP - Local $ 1,677,388 $ 1,677,388 $ 2,339,644 $ 662,256 28% Interest income 64,960 66,000 60,000 (6,000) -10% Other revenues 66,772 70,000 5,000 (65,000) -1300% State: - #DIV/0! MFP - State 1,132,788 1,132,788 1,446,863 314,075 22% Professional Improvement Program 1,872 2,500 2,000 (500) -25% Other revenues 3,795 4,000 4,000-0% Total Revenues 2,947,575 2,952,676 3,857,507 904,831 23% Expenditures Instruction: Regular Programs 1,204,604 1,206,600 2,012,560 805,960 40% Special Education Programs - - 250,970 250,970 100% Vocational Programs - - - - Other Instructional Programs - - 56,630 56,630 100% Special Programs 86,194 87,900 47,798 (40,102) Adult/Continuing Education Programs - - - - Support Services: Pupil Support Services 18,464 19,950 112,370 92,420 82% Instructional Staff Services 65,767 66,250 544,787 478,537 88% General Administration 118,129 121,800 140,250 18,450 13% School Administration 250,475 268,700 308,708 40,008 13% Business Services 168,583 166,900 255,118 88,218 35% Operations and Manitenance of Plant Services 342,376 347,300 615,406 268,106 44% Student Transportation Services 236,140 250,000 300,000 50,000 17% Central Services - - - - Operation of Non-Instructional Services: Food Services Operations 5,280 6,000 7,000 1,000 14% Community Services Operations - - - - Facility Acquisition and Construction Services - - - - Other Use of Funds: Debt Service - - - - Total Expenditures 2,496,012 2,541,400 4,651,597 2,110,197 45% Other Sources of Funds - - 18,993 18,993 Other Uses of Funds - - - - Total Other Sources and (Uses) - - 18,993 18,993 Excess (Deficiency) 451,563 411,276 (775,097) (1,186,373) 153% Beginning Net Assets, as restated 6,860,493 6,860,493 7,312,056 451,563 Ending Net Assets $ 7,312,056 $ 7,271,769 $ 6,536,959 $ (734,810) -11% 2

General Fund Budget Fiscal Year 2018-2019 Budget Summary by Object Actual Budget Budget Over/(Under) Percent 2017-2018 2017-2018 2018-2019 2017-2018 of Change Revenues Local: MFP - Local $ 1,677,388 $ 1,677,388 $ 2,339,644 $ 662,256 28% Interest income 64,960 66,000 60,000 (6,000) -10% Other revenues 66,772 70,000 5,000 (65,000) -1300% State: - MFP - State 1,132,788 1,132,788 1,446,863 314,075 22% Professional Improvement Program 1,872 2,500 2,000 (500) -25% Other revenues 3,795 4,000 4,000-0% Total Revenues 2,947,575 2,952,676 3,857,507 904,831 23% Expenditures Salaries 1,152,522 1,173,390 2,763,673 1,590,283 58% Employee Benefits 394,119 399,750 909,365 509,615 56% Purchased Professional and Technical Services 208,818 202,960 200,300 (2,660) -1% Purchased Property Services 220,592 223,100 72,780 (150,320) -207% Other Purchased Services 281,435 297,950 356,000 58,050 16% Supplies 178,492 182,250 285,950 103,700 36% Property 1,429 1,500 1,429 (71) -5% Other Objects 58,605 60,500 62,100 1,600 3% Total Expenditures 2,496,012 2,541,400 4,651,597 2,110,197 45% Other Sources of Funds - - 18,993 18,993 100% Other Uses of Funds - - - - Total Other Sources and (Uses) - - 18,993 18,993 100% Excess (Deficiency) 451,563 411,276 (775,097) (1,186,373) 153% Beginning Net Assets 6,860,493 6,860,493 7,312,056 451,563 Ending Net Assets $ 7,312,056 $ 7,271,769 $ 6,536,959 $ (734,810) -11% 3

General Fund Budget Instruction - Regular Programs Expenditures 112-1105 Salaries - Kindergarten Teachers 67,972 69,000 91,426 115-1105 Salaries - Kindergarten Aides - - 78,813 112-1110 Salaries - Elementary Teachers 569,706 570,000 1,110,532 123-1100 Salaries - Substitute Teachers and Aides 112,013 112,000 50,000 150-1100 Stipend Pay 76,357 77,000 65,000 210-1100 Group Insurance 73,409 74,000 90,000 220-1100 Social Security 6,483 6,500-225-1100 Medicare 11,936 12,000 20,239 231-1100 Louisiana Teachers' Retirement 193,211 194,000 372,671 250-1100 Unemployment Compensation 6,579 6,700 9,500 260-1100 Workmen's Compensation - - - 119-1100 Salary - Interventionist 14,504 15,000-119-1100 Salary - Others 7,146 7,300-430-1100 Repairs & Maintenance 8,052 8,100-582-1100 Travel Reimbursement 6,000 6,000 6,000 740-1100 Depreciation 1,429 1,500 1,429 320-1110 Purchased Educatiuonal Services 4,696 1,800-612-1110 Material and Supplies 849 900-610-1100 Material and Supplies 4,718 5,000-642-1100 Supplies - Textbooks/Workbooks 37,765 38,000 115,450 890-1100 Miscellaneous 1,779 1,800 1,500 Total 1,204,604 1,206,600 2,012,560 4

General Fund Budget Instruction - Special Education Programs Expenditures 111-1210 Salaries - Student Support Coordinator 50,000 112-1210 Salaries - Elementary Teachers 90,913 115-1210 Salaries - Aides 46,011 123-1210 Salaries - Substitute Teachers and Aides 210-1210 Group Insurance 4,751 231-1210 Louisiana Teachers' Retirement 49,909 225-1210 Medicare 2,711 231-1210 Louisiana Teachers' Retirement 6,675 250-1210 Unemployment Compensation 260-1210 Workmen's Compensation Total - - 250,970 5

General Fund Budget Support Services Programs - Other Instructional Programs Expenditures 610-1410 Materials and supplies - Band 11,000 150-1420 Salaries - Coaches Stipends 16,800 225-1420 Medicare 244 231-1420 Louisiana Teachers' Retirement 4,486 300-1420 Purchased Professional & Technical Services 12,000 610-1420 Materials and supplies - Athletics 10,000 810-1420 Dues & Fees 100 610-1460 Materials and supplies - After School Program 2,000 Total - - 56,630 6

General Fund Budget Instruction - Special Programs Expenditures 112-1530 Salaries - Elementary Teachers 44,683 45,000-115-1530 Salaries - Aides 16,511 17,000 123-1530 Salaries - Substitute Teachers and Aides 210-1510 Group Insurance 142 150 225-1510 Medicare 714 231-1510 Louisiana Teachers' Retirement 318 350 13,136 210-1530 Group Insurance 7,373 7,500 9,160 225-1530 Medicare 887 900 1,675 231-1530 Louisiana Teachers' Retirement 16,280 17,000 23,113 250-1530 Unemployment Compensation 260-1500 Workmen's Compensation Total 86,194 87,900 47,798 7

General Fund Budget Support Services Programs - Pupil Support Services Expenditures 225-2110 Medicare 725 231-2110 Louisiana Teachers' Retirement 13,350 300-2110 Purchased Professional & Technical Services 1,200 1,200 615-2110 Supplies - Technology 5,033 5,500 5,000 113-2113 Salaries - Social Worker 50,000 530-2114 Student Record Service 550-2125 Printing & Binding 110 150 220-2130 Social Security 2,083 225-2130 Medicare 1,212 610-2130 Material and Supplies 71 100 335-2130 Purchased Educational Services 706 800 118-2134 Salaries - Nurse 33,600 300-2140 Educational Assessment 9,224 10,000 5,000 300-2150 Audiology Services 1,400 1,400 1,400 320-2160 Purchased Educational Services 720 800 Total 18,464 19,950 112,370 8

General Fund Budget Support Services Programs - Instructional Staff Services Expenditures 100-2211 Salaries - Instructional Coach & Interventionists 300,873 225-2211 Medicare 4,363 231-2211 Louisiana Teachers' Retirement 80,333 300-2220 Purchased Professional & Technical Services 17,744 18,000 340-2220 Purchased Technical Services 3,250 3,250 3,250 430-2220 Repairs & Maintenance 610-2220 Material and Supplies 890-2220 Miscellaneous 320-2230 Purchased Educational Services 44,773 45,000 119-2290 Salaries - Dean of Students 118,000 210-2290 Group Insurance 4,751 225-2290 Medicare 1,711 231-2290 Louisiana Teachers' Retirement 31,506 Total 65,767 66,250 544,787 9

General Fund Budget Support Services Programs - General Administration Expenditures 300-2310 Purchased Professional Services 19,200 20,000 25,000 332-2310 Legal Services 7,000 7,000 15,000 333-2310 Audit Services 16,750 16,750 16,750 430-2310 Repair and Maintenance Services 524-2310 Errors & Omissions 5,694 6,000 6,000 525-2310 Faithful Performance Bond Insurance 582-2310 Travel Expense Reimbursement 8,545 9,000 12,500 600-2310 Other Supplies 322 350 500 800-2310 Miscellaneous Expense 625 700 500 810-2310 Other Service Fees - Admin. Fees 56,201 58,000 60,000 521-2311 Liability Insurance 3,792 4,000 4,000 Total 118,129 121,800 140,250 10

General Fund Budget Support Services Programs - School Administration Expenditures 225-2400 Medicare 2,627 3,000 2,973 231-2400 Louisiana Teachers' Retirement 48,201 50,000 54,735 260-2400 Workmen's Compensation 300-2400 Purchased Technical Services 11,048 340-2400 Purchased Technical Services 6,375 12,000 23,500 615-2400 Supplies - Technology 1,414 1,500 600-2400 Other Supplies 2,662 2,700 3,000 530-2400 Telephone and Postage 15,165 16,000 16,000 582-2400 Travel Expense Reimbursement 3,500 111-2410 Salaries - Principals 21,859 22,000 130,000 890-2410 Miscellaneous Expenses 111-2420 Salaries - Asst. Principal 4,333 4,500 75,000 111-2430 Salaries - Chief Executive Officer 136,791 157,000 Total 250,475 268,700 308,708 11

General Fund Budget Support Services Programs - Business Services Expenditures 210-2500 Group Insurance 5,039 5,100 5,175 220-2500 FICA Contributions 2,083 225-2500 Medicare 1,013 1,100 2,155 231-2500 Louisiana Teachers' Retirement 19,214 20,000 30,705 260-2500 Workmen's Compensation 100-2510 Salaries - Adminstrative 3,258 3,300 55,000 114-2510 Salaries - Data Manager & Clerk 70,116 67,000 93,600 300-2510 Purchased Professional & Technical Services 2,170 1,900 332-2510 Legal Services 333-2510 Audit/Accounting Services 55,599 56,000 50,400 340-2510 Bank Charges 500-2510 Other Purchased Services 544 600 500 525-2510 Faithful Perormance Bonds 76 100 100 530-2510 Postage 89 100 400 610-2510 Materials & Supplies 4,057 4,200 5,000 615-2510 Supplies - Technology 500 500 1,000 111-2511 Salaries - Business Official 339-2514 Payroll Services 6,908 7,000 9,000 Total 168,583 166,900 255,118 12

General Fund Budget Support Services Programs - Operation and Maintenance of Plant Services Expenditures 300-2600 Purchased Professional and Technical Services - - - 890-2600 Miscellaneous Expenditures - - - 340-2600 Purchased Technical Services 55 60-111-2610 Salaries - School Operations Officer - - 130,000 111-2610 Facilities Manager 3,290 3,290 60,000 116-2620 BldgMaint/Custodians 3,983 4,000 118,105 421-2620 Disposal Services 6,824 7,000 5,500 423-2620 Custodial Services 97,778 99,000-424-2620 Lawn Care 13,443 14,000 17,280 430-2620 Repairs and Maintenance Services 94,495 95,000 50,000 610-2620 Material and Supplies 9,515 10,000 17,000 621-2620 Natural Gas 5,260 5,500 6,000 622-2620 Electricity 106,326 108,000 110,000 300-2662 Security 39,000 220-2690 FICA Contributions 393 400 7,323 225-2690 Medicare Contributions 139 150 4,468 231-2690 Louisiana Teachers' Retirement 875 900 50,730 Total 342,376 347,300 615,406 13

General Fund Budget Support Services Programs - Student Transportation Services Expenditures 519-2710 Transportation 236,140 250,000 300,000 Total 236,140 250,000 300,000 14

General Fund Budget Operation of Non-Instructional - Food Services Operations Expenditures 570-3100 Food Service Management 5,280 6,000 7,000 Total 5,280 6,000 7,000 15

Robert Russa Moton Charter School New Orleans, Louisiana Special Revenue Funds Budget For the Period July 1, 2018 - June 30, 2019

Special Revenue Fund Budget Fiscal Year 2018-2019 Budget Summary by Function Actual Budget Budget Over/(Under) Percent 2017-2018 2017-2018 2018-2019 2017-2018 of Change Revenues Local Revenues $ - $ - $ - $ - State Revenues 58,433 58,433 83,347 24,914 30% Federal Revenues 381,032 381,032 483,587 102,555 21% 439,465 439,465 566,934 127,469 22% Expenditures Instruction: Regular Programs - - 6,505 6,505 100% Special Education Programs 50,746 50,746 68,332 17,586 26% Vocational Programs - - - - Other Instructional Programs - - - - Special Programs 362,674 362,674 479,669 116,995 24% Adult/Continuing Education Programs - - - - Support Services: Pupil Support Services - - - - Instructional Staff Services - - - - General Administration - - - - School Administration - - - - Business Services - - - - Operations and Manitenance of Plant Services - - - - Student Transportation Services 19,540 19,540 - (19,540) Central Services - - - - Operation of Non-Instructional Services: Food Services Operations - - - - Facility Acquisition and Construction Services - - - - 0% Other Use of Funds: Debt Service - - - - 0% Total Expenditures 432,960 432,960 554,506 121,546 22% Other Sources of Funds - - - - Other Uses of Funds - - (18,933) (18,933) 100% Total Other Sources and (Uses) - - (18,933) (18,933) 100% Excess (Deficiency) 6,505 6,505 (6,505) (13,010) 200% Beginning Net Assets - - 6,505 6,505 100% Ending Net Assets $ 6,505 $ 6,505 $ - $ (6,505) 16

Special Revenue Fund Budget Fiscal Year 2018-2019 Budget Summary by Object Actual Budget Budget Over/(Under) Percent 2017-2018 2017-2018 2018-2019 2017-2018 of Change Expenditures Salaries $ 194,847 $ 194,847 $ 361,359 $ 166,512 46% Employee Benefits 63,685 63,685 60,133 (3,552) -6% Purchased Professional and Technical Services 52,246 52,246 54,933 2,687 5% Purchased Property Services - - - - Other Purchased Services 19,540 19,540 25,000 5,460 22% Supplies 102,642 102,642 53,081 (49,561) -93% Property - - - - Other Objects - - 18,933 18,933 100% Total Expenditures $ 432,960 $ 432,960 $ 573,439 $ 140,479 24% 17

Special Revenue Fund Budget Fiscal Year 2018-2019 Budget Summary by Grant or Total Revenue Actual Budget Budget Over/(Under) Name of Fund 2017-2018 2017-2018 2018-2019 2017-2018 Grants to Local Education Agencies - Title I $ 286,871 $ 286,871 $ 236,781 $ (50,090) Teacher and Principal Training & Recruitment Fund - Title II (Part A) 1,500 1,500 47,847 46,347 Safe and Drug-Free Schools and Communities - State Grants - Title IV - - 24,243 24,243 LA-4 - Federal (TANF) 41,915 41,915 99,847 57,932 LA-4 - State 51,928 51,928 83,347 31,419 Special Education - IDEA 50,746 50,746 71,116 20,370 Special Education - Pre-School - - 3,753 3,753 Education Excellence Fund 6,505 6,505 - (6,505) $ 439,465 $ 439,465 $ 566,934 $ 127,469 18

Special Revenue Fund Budget Grants to Local Education Agencies - Title I Revenues Local Revenues State Revenues Federal Revenues 286,871 286,871 236,781 Total Revenues 286,871 286,871 236,781 Expenditures 112-1510 Salaries - Teachers 60,588 60,588 110,513 119-1510 Salaries - Parent Liaison 1,049 1,049 14,400 150-1510 Stipend Pay 64,885 64,885 49,200 210-1510 Group Insurance 4,523 4,523-220-1510 Social Security 244 244 893 225-1510 Medicare 1,835 1,835 1,811 231-1510 Louisiana Teachers' Retirement 31,475 31,475 29,507 250-1510 Unemployment Compensation 90 90-260-1510 Workmen's Compensation - - - 519-2720 Transportation 19,540 19,540-582-1510 Travel Expense Reimbursement - - 12,000 600-1510 Material and Supplies - - - 610-1510 Material and Supplies 63,392 63,392-615-1510 Supplies - Technology 39,250 39,250 9,186 Total Expenditures 286,871 286,871 227,510 933-5200 Indirect cost - - (9,271) Total Other Sources and (Uses) - - (9,271) Excess (Deficiency) (0) - - Beginning Net Assets - - - Ending Net Assets (0) - - 19

Special Revenue Fund Budget Teacher and Principal Training & Recruitment Fund - Title II (Part A) Revenues Local Revenues State Revenues Federal Revenues 1,500 1,500 47,847 Total Revenues 1,500 1,500 47,847 Expenditures 150-1510 Stipend Pay 3,000 220-1500 Social Security 220-1510 Social Security 225-1510 Medicare 44 231-1510 Louisiana Teachers Retirement 801 250-1510 Unemployment Compensation 300-1510 Purchased Professional & Technical Services 1,500 1,500 24,397 582-1510 Travel Expense Reimbursement 13,000 610-1510 Material and Supplies 4,732 Total Expenditures 1,500 1,500 45,974 933-5200 Indirect cost - - (1,873) Total Other Sources and (Uses) - - (1,873) Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 20

Special Revenue Fund Budget Safe & Drug-Free Schools & Communities National Program Revenues Local Revenues State Revenues - - Federal Revenues - 24,243 Total Revenues - - 24,243 Expenditures 300-1510 Purchased Professional & Technical Services 2,000 610-1510 Material and Supplies - 21,294 Total Expenditures - - 23,294 933-5200 Indirect cost - - (949) Total Other Sources and (Uses) - - (949) Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 21

Special Revenue Fund Budget LA-4 - Federal Budget Year 2017-2018 Revenues Local Revenues State Revenues - - - Federal Revenues 41,915 41,915 99,847 Total Revenues 41,915 41,915 99,847 Expenditures 112-1530 Salaries - Teachers 21,536 21,536 51,533 115-1530 Salaries - Aides 8,266 8,266 25,000 210-1530 Group Insurance 3,755 3,755 220-1530 Social Security 225-1530 Medicare 431 431 231-1530 Louisiana Teachers' Retirement 7,927 7,927 19,405 250-1530 Unemployment Compensation 519-2720 Transportation 610-1530 Materials and Supplies Total Expenditures 41,915 41,915 95,938 933-5200 Indirect cost - - (3,909) Total Other Sources and (Uses) - - (3,909) Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 22

Special Revenue Fund Budget LA-4 - State Revenues Local Revenues State Revenues 51,928 51,928 83,347 Federal Revenues - - - Total Revenues 51,928 51,928 83,347 Expenditures ^ 112-1530 Salaries - Teachers 28,896 28,896 57,713 ^ 115-1530 Salaries - Aides 9,627 9,627 25,000 210-1530 Group Insurance 2,600 2,600 220-1530 Social Security 225-1530 Medicare 560 560 634 231-1530 Louisiana Teachers' Retirement 10,245 10,245 250-1530 Unemployment Compensation 610-1530 Materials and Supplies Total Expenditures 51,928 51,928 83,347 Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 23

Special Revenue Fund Budget Special Education (IDEA) Revenues Local Revenues State Revenues Federal Revenues 50,746 50,746 71,116 Total Revenues 50,746 50,746 71,116 Expenditures 115-1210 Salaries - Aide 25,000 220-1210 Social Security 225-1210 Medicare 363 231-1210 Louisiana Teachers' Retirement 6,675 300-1210 Purchased Professional & Technical Services 50,746 50,746 24,930 610-1210 Material and Supplies 11,364 Total Expenditures 50,746 50,746 68,332 933-5200 Indirect cost - - (2,784) Total Other Sources and (Uses) - - (2,784) Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 24

Special Revenue Fund Budget Special Education (Pre-School) Revenues Local Revenues State Revenues Federal Revenues - - 3,753 Total Revenues - - 3,753 Expenditures 300-1510 Purchased Professional & Technical Services 3,606 Total Expenditures - - 3,606 Indirect cost - - (147) Total Other Sources and (Uses) - - (147) Excess (Deficiency) - - - Beginning Net Assets - - - Ending Net Assets - - - 25

Special Revenue Fund Budget Education Excellence Fund Revenues Local Revenues State Revenues 6,505 6,505 Federal Revenues Total Revenues 6,505 6,505 - Expenditures 610-1110 Material and Supplies 6,505 Total Expenditures - - 6,505 Excess (Deficiency) 6,505 6,505 (6,505) Beginning Net Assets - - 6,505 Ending Net Assets 6,505 6,505-26