New Foundations Charter School

New Foundations Charter School Financial Operations Report March 31, 2016 Santi IIi Q,-homson (_)(Solutions for the Business of Education

Balance Sheet March 2016 ASSETS Current Assets Checking/Savings Cash Accounts Receivable Due From Food Service Credit Cards to be Allocated Prepaid Rent Prepaid Expenses Retainer Total Current Assets Mar 2016 Feb 2016 6,138,607 6,411,944 89,501 130,287 91,294 51,330 41,277 15,686 42,467 62,467 828 7,418 545 6,411,392 6,672,258 Deferred Outflows GASB 68 3,379,986 3,379,986 Fixed Assets Building Improvements Furniture, Software and Computers Total Fixed Assets 297,169 297,169 603,414 603,414 900,683 900,583 TOTAL ASSETS 10,691,961 10,952,827 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Due to PSERS & Other Payroll Items Due to Foundation Due to Student Activities Claims and Judgements Payable Total Current Liabilities 214,362 168,496 309,033 588,553 5,035 5,035 127,586 127,586 20,058 20,058 676,074 909,728 Deferred Inflows GASB 68 Net Pension Liability 822,399 822,399 17,295,000 17,295,000 Total Liabilities Equity Available for Appropriation FY 2015 Investment In Fixed Assets Reserved for Covenant & Capllallmprovemants Net Pension Liability Unrestricted Net Income Total Equity 450,000 450,000 900,583 900,583 3,025,233 3,025,233 (17,295,000) (17,295,000) 3,182,652 3,182,652 1,635,020 1,662,232 (8, 101,512) (8,074,299) 1

Column1 Co/umn2 Column 3 Colmnn4 Column6 Statement of Revenues and Expenditures Budgeted Enrollment 1,490 1,490 1,490 1,453 (37) Fiscal Year 2016-2016 2016-2016 March 2016 March 2015 March 2015 Fund Balance Appropriated by the BOT 191,933 191,933 Summary by Function Revenues School District Subsidy 13,760,275 13,727,772 10,295,829 10,360,632 65,003 Other Local 467,838 602,144 392,371 449,653 57,282 State 181,394 181,394 10,830 11,694 864 Federal 1,086,444 1,088,444 767 353 779,566 12 213 Total Revenue 15,506,950 15,599,753 11,466,383 11,601,745 135,363 Expenditures Instruction Regular Educallon 7,340,880 7,220,380 4,493,872 4,470,417 23,455 Special Programs 1,046,445 851,445 522,202 498,800 23,402 Tutoring/Summer School 128,264 128,264 79,882 57,000 22,003 support Services Guidance 317,017 345,017 210,001 206,731 3,270 Social Worker 81,482 76,982 44,169 38,163 6,027 Psychological Services 64,241 64,241 42,027 20,733 16,095 Library Services 146,542 100,542 59,983 57,638 2,345 Curriculum 128,495 128,495 76,976 73,055 3,921 Professional Development 158,404 152,904 07,537 75,424 22,1 14 Other Support Services 131,040 158,540 95,262 94,667 595 Legal Services 117,666 117,668 93,894 117,056 (23,162) Office of the CEO 300,198 303,198 209,904 204,814 6,170 Admlnlstrallve 1,289,115 1,298,062 929,640 690,717 38,923 Pupil Heallh 197,553 203,053 123,903 120,116 3,786 Business 214,574 208,574 159,609 154,660 4,750 Prlnling/Copylng 87,249 89,249 64,246 51,557 12,669 Building Services 3,183,091 3,164,591 2,328,802 2,208,287 40,515 Technology 234,407 227,207 161,404 150,570 10,834 Nonlnstructlonal Services Student Acllvllles 524,218 559,218 398,170 389,243 8,927 Total Expenditures 15,698,884 15,397,651 10,192,365 0,966,726 225,659 Revenues Over (Under) Expenditures (191,933) 202,103 1,273,998 1,635,020 361,022 Summary by Major Class Salaries 6,685,938 6,567,236 3,961,990 3,924,552 37,437 42.78% Benefits 3,603,007 3,396,207 2,146,089 2,109,743 36,346 22.06'k Professional Services 761,392 624,942 631,040 608,610 22,430 5.361'. Building Services 2,613,013 2,597,013 1,928,173 1,902,431 25,743 16.87% Other Purchased Services 682,666 649,116 366,909 317,544 49,365 3.571'. Supplies and Books 1,143,625 1,209,092 973,890 935,534 30,356 7.851'. Equipment 209,043 234,043 184,295 166,313 15,982 1.52% Other 15,698,684 15,397,651 10,192,385 9,966,726 225,659 100% 2

Column 1 Column 2 Column 3 Column 4 Column 6 Statement or Revenues and Expenditures Budgeted Enrollment 1,490 1,490 1,490 1,463 (37) Fiscal Year 2015-2016 2016-2016 March 2015 March 2016 March 2016 Fund Balance Appropriated by tha BOT 191,933 191,933 2 2 3 Revenues 3 4 4 6 School District Subsidy 5 6 Regular Education 10,986,655 10,470,200 7,652,650 7,646,1 66 (6,465) 6 7 Special Education 2,681,543 3,126,495 2,344,671 2,300,601 45,730 7 8 Non-Resident 101 077 131 077 08 308 124 046 25 738 0 9 13,769,275 13,727,772 10,295,829 10,360,632 65,003 9 10 Other Local 10 11 Bank Interest 2,659 2,859 2,145 1,439 (706) 11 12 Erate 25,125 25,125 12 13 Extended Day Fees/Summer School 150,021 165,621 124,366 119,474 (4,892) 13 14 IDEA 133,746 133,746 14 15 Local Grant 63,169 63,169 53,169 66,610 13,441 16 16 PSPGrant 75,000 75,000 75,000 125,000 50,000 16 17 Mlscellaneous/Fundralslng 4,120 59,120 59,120 56,881 (2,239) 17 18 Student Fees 22,995 87,301 78,571 80,249 1,678 18 19 467 636 602 144 392,371 449,653 57,282 19 20 Commonwealth 20 21 Health Services 10,830 10,830 10,830 11,694 864 21 22 Rental & Sinking Fund Payments 170 564 170 564 22 23 181,394 181,394 10 830 11 694 864 23 24 Federal 24 25 Federal Entitlements 1,068,444 1,088,444 767,353 779,467 12,114 25 26 Access 99 99 26 27 1,088,444 1,088,444 767 353 779 566 12 213 27 28 28 29 Total Revenues 15,506,950 15,599,753 11,466,383 11,601,745 135,363 29 30 30 31 Expenditures 31 32 Instruction 32 33 Regular Education 33 34 Salaries 4,313,269 4,163,269 2,401,886 2,394,997 6,889 34 35 Employee Benefits 2,351,625 2,306,625 1,441,895 1,437,31 6 4,579 35 36 Contracted Services 10,764 10,764 9,687 10,654 (1,167) 36 37 Other Purchased Services 12,239 12,239 8,160 4,885 3,275 37 38 Supplies 152,017 129,517 97,138 93,014 4,124 38 39 Books 336,790 321,790 273,521 267,426 6,095 39 40 Software 69,033 134,033 127,331 129,129 (1,798) 40 41 Furniture & Equipment 43,345 90,345 87,635 87,087 548 41 42 Technology 51 799 51 799 46819 45 709 910 42 43 7,340,880 7,220,380 4,493,872 4,470,417 23,455 43 44 Special Programs 44 45 Salaries 438,972 378,972 218,637 215,465 3,172 45 46 Employee Benefits 273,413 176,413 90,590 89,138 1,452 46 47 APS 75,242 75,242 37,621 35,200 2,421 47 48 Professional Services 74,650 155,400 139,880 130,316 9,544 48 49 Other Purchased Services 176,211 57,461 28,731 23,051 5,680 49 50 Supplies and Books 7 957 7 957 6 763 5,630 1134 50 51 1,046,445 851,445 522,202 408,800 23,402 51 52 Other Instructional Programs 52 53 Salaries 80,577 80,577 48,348 44,191 4,156 53 54 Employee Benefits 26,193 28,193 16,916 13,689 3,228 54 55 Professional Services 5,439 5,439 4,080 4,080 55 56 Other Purchased Services 5,230 5,230 3,923 3,923 56 57 Supplies 8 825 8825 6 618 6 618 57 58 128,264 128,264 79,882 57,880 22,003 58 59 59 80 Total Instruction 8,515,689 8,200,089 5,095,956 5,027,097 68,860 60 61 61 62 Support Services 62 3

Column 1 Column 2 Column3 Column4 Column6 Statement of Revonuos and Expenditures Budgeted Enrollment 1,490 1,490 1,490 1,453 (37) Fiscal Year 2016-2016 2015-2016 March 2016 March 2015 March 2015 63 Counseling 63 64 Salaries 202,163 230,163 132,786 129,417 3,369 64 66 Employee Benefits 114 854 114 854 77,215 77,314 {99) 66 66 317 017 345 017 210,001 208,731 3,270 66 67 Social Worker 67 68 Salaries 52,191 54,691 31,553 29,316 2,237 68 69 Employee Benefits 29,291 22,291 12 637 8 847 3 790 69 70 81.482 76 982 44,189 38163 6 027 70 71 Psychological Services 71 72 Professional Services 64 241 64,241 42 827 26 733 16 095 72 73 04 241 64 241 42,627 26,733 16,095 73 74 Library Services 74 76 Salaries 80,189 62,689 36,166 35,993 173 75 76 Employee Benefits 37,933 35,433 22,123 20,785 1,337 76 77 Supplies & Books 2,200 2,200 1,540 800 680 77 78 Furniture & Equipment 26 220 220 154 154 70 79 146,542 100,542 59,983 57 638 2 345 79 80 Curriculum DO 81 Salaries 87,016 86,766 50,059 46,545 3,513 81 82 Employee Benefils 41477 41 727 28 917 26 510 407 82 83 128,495 126,495 76 976 73 055 3 921 83 84 Professional Development 84 05 Salaries 56,650 56,650 35,406 29,500 5,906 85 86 Employee Benefits 65,172 57,672 33,642 23,837 9,805 86 87 Professional Services 17,865 17,865 13,399 12,504 895 87 88 Travel & Conferences 14,775 11,775 8,831 5,526 3,305 88 89 Supplies 3 942 8 942 6,259 4,057 2,202 89 90 158 404 152 904 97,537 75,424 22,114 90 91 Other Support 91 92 Salaries 86,570 111,570 64,368 63,980 387 92 93 Employee Benefits 44 470 46 970 30 894 30 686 208 93 94 131 040 158 540 05 262 94 667 595 94 95 Legal and Audit Services 95 96 Audit Services 33,857 33,857 31,036 29,350 1,686 96 97 Legal Services 83 811 63 811 62,858 87,706!24,647) 97 98 117 668 117 668 93,894 117,056!23,162) 98 99 Office of CEO 99 100 Salaries 157,173 157,723 111,013 110,612 201 100 101 Employee Benefits 66,025 60,475 42,304 40,434 1,870 101 102 Professional Services 85,000 85,000 56 667 53 568 3099 102 103 308,198 303,198 209 984 204 814 5170 103 104 Administrative 104 105 Salaries 610,303 655,803 461,584 461,354 231 105 106 Employee Benefits 312,982 287,982 197,179 194,567 2,611 106 107 Professional Services 32,787 17,787 10,376 5,530 4,846 107 108 Other Purchased Services 108 109 Insurance 110,136 110,136 84,437 83,610 828 109 110 Postage 17,360 13,860 10,395 6,942 3,452 110 111 Telephone 22,744 16,244 12,183 8,277 3,906 111 112 Advertising 5,057 5,057 3,793 1,512 2,281 112 113 Travel 5,677 5,677 4,258 1,083 3,175 113 114 Dues & Subscriptions 16,391 7,891 5,918 2,924 2,994 114 116 Other 20,316 38,316 28,737 27,169 1,568 115 116 Supplies 56,330 44,330 31,031 27,360 3,664 116 117 Administrative Software 69,033 85,000 72,250 69,422 2,028 117 118 Furniture & Equipment 5,000 6,000 3,750 961 2,789 118 119 Technology 5 000 5 000 3 750 3 750 119 120 1,289,115 1,298,082 929,640 890,717 38,923 120 121 Pupil Health 121 122 Salaries 124,311 124,311 71,718 69,752 1,966 122 123 Employee Benefits 65,556 69,556 45,517 44,733 784 123 124 Professional services 2,575 4,075 3,260 2,940 320 124 4

Column 1 Column 2 Column3 Column4 Column5 Statement of Revenues and Expenditures Budgeted Enrollment 1,490 1,490 1,490 1,453 (37) Fiscal Year 2015-2016 2015-2016 March 2015 March 2015 March 2015 125 Supplies 5111 5 111 3 407 2 690 717 125 126 197,553 203,053 123,903 120,116 3,766 126 127 Business 127 128 Business Services 165,811 177,311 133,483 130,649 2,934 120 129 Payroll Services 13,207 13,207 8,684 8,292 293 129 130 Other 2,060 2,060 1,545 1,609 (64) 130 131 Software Hosting and Amortization 13 497 15 997 15 997 14 410 1,587 131 132 214 574 208 574 159,609 154,860 4,750 132 133 Printing/Copying 133 134 Prfnting 19,128 17,128 12,846 7,266 5,560 134 135 Supplies 15,918 19,918 16,598 15,565 1,033 136 136 Equipment 52,203 52,203 34,802 28,706 6,095 136 137 87 249 09 249 64,246 51,557 12,689 137 138 Building Operations 138 139 Salaries 102,836 97,336 68,510 64,730 3,780 139 140 Employee Bene fits 58,216 51,716 37,241 33,381 3,859 140 141 Professional Services 84,872 84,872 60,116 50,470 1,647 141 142 Property Services 142 143 Cuslodlal 154,254 154,254 115,691 111,494 4,1 96 143 144 Re nt 2,201,499 2,209,999 1,657,499 1,656,000 1,499 144 145 Ulllilies 40,661 34,161 25,620 20,911 4,709 145 146 Ma intenance & Repairs 146,384 128,364 85,590 80,337 5,252 146 147 Trash 22,302 22,302 14,868 11,674 3,194 147 150 Lawn Care & Snow Removal 36,437 36,437 21,265 18,822 2,434 150 161 Extermlnallon Services 8,475 6,475 4,317 2,943 1,374 151 152 Other Purchased Property Services 5,000 5,000 3,333 250 3,083 152 153 Supplies - Gas & Electric 278,224 293,224 207,701 205,667 1,833 153 154 Supplies 36,356 32,858 23,275 20,781 2,513 154 155 Furnilure & Equipment 7,571 7,571 3 786 2,648 1,140 155 156 3,183,091 3,164,591 2,328,802 2,288,287 40,515 156 157 Central Information Technology 157 158 Professional Services 79,720 04,520 63,390 60,092 3,296 158 159 Internet Services 77,116 67,616 50,712 47,645 3,066 159 160 Supplies 51,455 39,455 29,591 25,718 3,873 160 161 Soflware 8,21 1 17,711 17,711 17,116 596 161 162 Technology 17 906 17 906 162 163 234,407 227,207 161,404 150,570 10,834 163 164 164 165 Total Support Services 6,659,077 6,638,344 4,698,268 4,550,386 147,873 165 166 166 167 Non Instructional Activities 167 168 After School Programs/Extra Curricular 168 169 Salaries 293,714 326,714 229,957 228,500 1,457 169 170 Employee Benefits 113,601 96,301 71,020 68,506 2,514 170 171 Other Purchased Services 89,978 89,978 56,236 52,533 3,703 171 172 Supplies 26,725 42,225 37,158 36,501 857 172 173 Furnllure & Equipment 4 000 3 800 3,204 596 173 174 524,218 559,218 398,170 389 243 8927 174 175 175 176 Non Instructional Activities 524.218 559,218 398,1 70 389,243 8,927 176 177 177 178 Total Expenditures 16,698,884 16,397,651 10,192,305 9,966,726 225,669 178 179 179 180 Excess of Revenue over Expenditures (1 91,933) 202,103 1,273,998 1,635,020 361,022 180 181 181 182 Contribution to Reserve 182 183 183 184 Excess of Revenue over Expenditures (191,933) 202,103 1,273,998 1,635,020 361,022 104 185 185 5

Memphis Street Academy Charter School Balance Sheet March 2016 ASSETS Current Assets Checking/Savings Cash Due from Commonwealth Due from School District Retainer- American Paradigm Schools Total Current Assets March 2016 8,143,926 13,741 77,774 8,235,441 February 2016 8,189,960 13,741 77,774 8,281,475 Fixed Assets Building Improvements Vehicles Furniture, Software and Computers Total Fixed Assets 450,954 66,675 200,441 450,954 66,675 200,441 TOTAL ASSETS 8,953,511 8,999,544 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Salaries and Benefits Payable Due to Food Service Due to Local School District Capital Leases -Computers and Furniture Total Current Liabilities Total Liabilities Equity Available for Appropriation Investment in Fixed Assets Reserved for Future Revenue Reductions Reserve for Contingencies Net Income Total Equity 90,808 222,794 84,610 124,568 522,779 4,227,249 659,665 440,594 2,385,154 8,430,731 103,051 401,607 133,506 124,568 762,732 4,227,249 659,665 440,594 2,191,235 8,236,812 TOTAL LIABILITIES & EQUITY 8,953,511 8,999,544 (O) 1