June 22, 2006 – ACSA Board Meeting

• MFP Funding– Latest figures released by the state– Comparison of 2005/06 vs. 2006/07

• Special Revenue Update– Summary of available funds– Explanation of key dates and usage

• Statement of Net Assets thru May 31, 2006• Statement of Revenues, Expenditures and Change In Net Assets

– For the Period from Inception Thru May 31, 2006

Un-audited draft for presentation purposes only

MFP Funding

• MFP includes the state and local portion of tax collections.• The allocated funds vary between the Type 4 and Type 5 Charters.

– Type 4 Charters have 1 set amount for all pupils– Type 5 Charters have varying amounts based on the type of pupil needs.

• The MFP funds include the money for the governor mandated pay raise of $1,500.

Un-audited draft for presentation purposes only

MFP Funding – OPSB Type 4 Charters

3,863 3,119

6,982$

Local Per Pupil

05/06 MFP FUNDING

State Per Pupil 3,715 3,301

7,016$

Local Per Pupil

06/07 TYPE 4 MFP FUNDINGState Per Pupil

• The MFP for Type 4 Charters increased $34.• Next year Type 4 Charters (OPSB) are funded based on a different amount than Type 5 Charters (RSD).

Un-audited draft for presentation purposes only

MFP Funding – RSD Type 5 Charters

Regular Ed. MFP 5,730$

Level I MFP 6,731$

Level II MFP 11,735$

Level III MFP 16,740$ Severe/Profound Mentally Handicapped, Deaf/Blindness,

Autism, Emotionally Disturbed, Traumatic Brain Injury

06/07 TYPE 5 CHARTER MFP FUNDING

Includes Regular Education and Gifted/Talented

Speech only

Mild/Moderate Mentally Handicapped, Learning Disabled, Other Health Impaired, Orthopedically Handicapped

6,590 Orleans State and Local per pupil amount(106) Minus 1.6% Administration Costs

6,484 Equals (754) Minus Special Ed. allocation per pupil

5,730$ Equals Regular Ed. allocation per pupil

06/07 TYPE 5 CHARTER MFP FUNDING

Un-audited draft for presentation purposes only

MFP By School Last Year vs. Next Year

06/0

7

Level I 134,620 127,889 67,310 67,310 60,579 47,117 504,825

Level II 211,230 281,640 222,965 258,170 234,700 586,750 1,795,455

Level III 66,960 200,880 66,960 150,660 133,920 318,060 937,440

Regular Ed / Gifted 3,277,560 3,117,120 2,102,910 2,057,070 2,079,990 4,045,380 16,680,030

TOTAL MFP $ 3,690,370 3,727,529 2,460,145 4,132,389 5,226,875 2,533,210 2,509,189 4,997,307 29,277,014

MFP/Pupil Calc'd 6,010 6,223 6,150 7,016 7,016 6,333 6,273 6,390 6,464

05/06 MFP 6,982 6,982 6,982 6,982 6,982 n/a n/a 6,982 6,982

Budget on 05/06 MFP 4,286,948 4,182,218 2,792,800 4,112,398 5,201,590 n/a n/a 5,459,924 26,035,878

Difference year over year

(596,578) (454,689) (332,655) 19,991 25,285 (462,617) -$1,801,263

06/0

7 05

/06

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Additional General Fund & Special Revenues

• Federal Charter Grant• Impact Aid – 3rd and 4th Quarter• Restart Aid• 2004/05 Title I, II, IV & V Carryover• $200,000 PCSP Grant

Un-audited draft for presentation purposes only

Federal Charter Grant• Original grant allocation was $6,326,000• Student counts increased Karr and Walker allocations by $166,000 and $6,000 respectively. • These funds must be encumbered by July 31, 2006.• The Fischer application worth $636,953 was never approved by the state due to the school’s opening date of March 30th.

• These funds were originally approved by the US Congress September 1st, 2005 but were not made available until May 24th, 2006.

– They have to be encumbered by July 31st.– ACSA is claiming expenses incurred this past year in order to access these funds.

• The calculation is based on $1,000 per regular education pupil and $1,250 for special education pupil.• These funds can be used to reimburse most types of expenses with the exception of food and capital improvements.• 4th Quarter Impact Aid totals $2,528,000 but is still waiting to be claimed against because the allocations per school aren’t final.

Special Revenues – Impact Aid

Un-audited draft for presentation purposes only

Special Revenues – Restart Aid• Restart Aid funds were approved by the US Congress September 12, 2005 and have to be claimed against by September 11, 2006. They were made available May 24th, 2006.• These funds are categorized for reimbursement by administrative expenses, teacher expenses and other expenses.

• This grant amounts to $200,000 per school including the new schools and Fischer.• The applications have not been generated because we are waiting on the LDE/BESE to approve the allocations.

Special Revenues – $200,000 PCSP Grant

Un-audited draft for presentation purposes only

Special Revenues – Title I, II, IV & V 2004/05 Carryover

• These funds have to be encumbered by July 31, 2006.• Because of the close deadline, these funds are primarily being used to purchase technology, fund summer school programs and provide professional development for teachers.• No official determination has been made for the Title funds for 2005/06 or 2006/07.

Title I Title II Title IV Title V

Behrman 253,070 180,379 23,070 12,234

Eisenhower 193,310 123,775 20,056 12,234

Fischer

Harte 178,240 97,205 29,922 10,923

Karr 171,485 87,800 19,800 10,486

Walker 216,694 114,690 19,800 13,800

1,012,799 603,849 112,648 59,677 $1,788,973

Un-audited draft for presentation purposes only

Summary of Funding for ACSA Beyond MFP

Title I Title II Title IV Title V

Tubman - - 200,000 200,000

McDonogh - - - - 200,000 200,000

Behrman 1,280,000 536,000 511,750 317,799 200,000 253,070 180,379 23,070 12,234 3,314,302

Eisenhower 1,228,000 471,750 467,750 338,536 200,000 193,310 123,775 20,056 12,234 3,055,411

Fischer - 257,000 - 200,000 457,000

Harte 1,198,000 401,000 393,000 460,723 200,000 178,240 97,205 29,922 10,923 2,969,013

Karr 1,344,000 267,250 413,250 605,891 200,000 171,485 87,800 19,800 10,486 3,119,962

Walker 1,448,000 445,750 485,250 772,916 200,000 216,694 114,690 19,800 13,800 3,716,900

TOTAL 6,498,000 2,121,750 2,528,000 2,495,865 1,600,000 1,012,799 603,849 112,648 59,677 $17,032,588

Accrual Year 05/06 05/06

05/06 & 06/07 06/07 06/07 05/06 05/06 05/06 05/06

PCSP2004/05 Carryover

TOTALFederal Charter Grant

Impact Aid - 3rd Quarter

Impact Aid - 4th Quarter

Restart Funds

Un-audited draft for presentation purposes only

Behrman Eisenhower Fischer Harte Karr Walker8 38 40 56 64 173 Total

AssetsCash in bank 1,592,040$ 1,439,586$ 57,467$ 1,492,472$ 1,280,387$ 631,349$ 6,493,301$ Accounts receivable 261,248 296,937 1,821 248,203 259,281 862,130 1,929,620 Advances to employees - - - 350 - - 350 Property and equipment (net of accumulated depreciation of $6,195)698 801 78,086 768 697 16,452 97,502 Deposits 750 750 - 750 750 750 3,750

Total Assets 1,854,736 1,738,074 137,374 1,742,543 1,541,115 1,510,681 8,524,523

LiabilitiesAccounts payable 73,234 71,570 50,447 119,695 218,830 147,291 681,067 Accrued salaries 94,982 93,283 51,790 120,071 113,070 96,477 569,673 Accrued payroll taxes 1,503 1,682 2,638 2,676 2,534 1,571 12,604 Share of administrative net liabilities 171,667 246,407 (11,627) 272,111 138,098 (216,937) 599,719 Deferred revenue - - - - - - -

Total Liabilities 341,386 412,942 93,248 514,553 472,532 28,402 1,863,063

Net Assets 1,513,350$ 1,325,132$ 44,126$ 1,227,990$ 1,068,583$ 1,482,279$ 6,661,460$

GENERAL FUNDSTATEMENT OF NET ASSETS

May 31, 2006

[ACCRUAL BASIS]

Un-audited draft for presentation purposes only

Year-to- Variance-

Behrman Eisenhower Fischer Harte Karr Walker Date Favorable

8 38 40 56 64 173 Actual Budget (Unfavorable)

Revenues

Contributions and Donations 8,516$ -$ -$ 15,278$ 2,355$ 641$ 26,790$ -$ 26,790$

Minimum Foundation Program-Local 898,482 817,894 168,688 821,054 765,388 904,484 4,375,990 4,662,185 (286,195)

Minimum Foundation Program-State 1,213,449 1,090,471 208,907 1,136,929 1,031,716 1,226,031 5,907,503 5,773,741 133,762

LA4 PreK Grant 40,000 51,866 - - - - 91,866 - 91,866

Federal Charter School Grant 879,164 870,162 - 1,007,081 842,102 848,107 4,446,617 6,607,785 (2,161,168)

OPSB Start-Up Funding 307,000 299,500 147,500 294,500 372,500 391,000 1,812,000 1,770,000 42,000

Restricted Grants in Aid - - 80,000 - - 26,250 106,250 - 106,250

ROTC Grants - - - - - 22,371 22,371 - 22,371

Total Revenues 3,346,611 3,129,894 605,095 3,274,842 3,014,062 3,418,884 16,789,387 18,813,711 (2,024,324)

Expenditures

Salaries 889,020 870,434 226,986 1,056,926 906,254 881,150 4,830,770 5,312,739 481,969

Benefits 248,553 259,734 38,893 303,181 231,798 236,038 1,318,197 1,529,610 211,413

Professional/Technical Services 7,418 7,569 1,760 7,996 6,313 16,192 47,248 2,213,016 2,165,768

Property Services 11,048 17,778 1,348 12,680 9,894 9,334 62,082 1,462,485 1,400,403

Other Services 125,830 123,873 38,739 125,093 117,588 109,834 640,957 858,159 217,202

Supplies 39,556 26,012 4,643 49,946 52,582 32,000 204,739 866,500 661,761

Depreciation 32 61 2,700 66 48 215 3,122 507,000 503,878

Miscellaneous - - - - - - - 900,000 900,000

Indirect Cost 511,805 499,301 245,900 490,965 621,001 651,842 3,020,812 - (3,020,812)

Total Expenditures 1,833,261 1,804,762 560,969 2,046,852 1,945,478 1,936,604 10,127,927 13,649,509 3,521,582

Increase in Net Assets 1,513,350$ 1,325,132$ 44,126$ 1,227,990$ 1,068,583$ 1,482,279$ 6,661,460$ 5,164,202$ 1,497,258$

GENERAL FUNDSTATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN NET ASSETS

For the Period from Inception, October 17, 2005 through May 31, 2006

[ACCRUAL BASIS]

Un-audited draft for presentation purposes only