Las Américas ASPIRA Academy Charter School

Transcription

1 Monthly Financial Report Report Ending Date: June 30, Fiscal Year: July 1, 2017 to June 30, 2018 Percent of Fiscal Year Complete: July 16, Ruthar Drive Newark, DE (302)

2 ASPIRA of Delaware Charter Operations Inc. Board of Directors Lourdes Puig, Ph.D. Chairperson Donald Patton Vice Chairperson Luis Santiago Treasurer Younes Haboussi Secretary Kathleen Chappel Alex Fajardo, Esq. Crystal Mayfield Serah Jo Pesce Fred West Citizen Budget Oversight Committee Luis Santiago Community Representative Chairperson Greg Panchisin Chief Operating Officer Vice Chairperson Lucy Li Parent Representative Secretary Richard Riggs DDOE Representative (NonVoting Member) Margie López Waite Head of School Jessie Forbes Teacher Representative Min Guan Community Representative

3 Financial Summary Update Cash Basis Twelve Months Ended June 30, 2018 I) Budget vs. Actual June 30, 2018 (Summary Level): A) Revenues FSF : % of Budget (Reconciled from DGL018 & DGL060) Full Year Budget 6/30/2018 FY17 Carryover Total (Target >=)* Difference* Variance* State Unit Formula (05213) 5,601,749 5,786, ,786, % 184,724 State Stipends (05195) State Technology Block Grant (05235) 10,591 10,591 10,591 State Ed Sustainment Fund (05289) 132, , ,507 State Minor Capital Improvements (50022) 82,790 82,790 82,790 State Education Opportunity Grant (05297) 100, , ,000 Subtotal State 5,927,637 6,112, ,112, % 184,724 Favorable Local District Funding (98000) 2,963,598 2,963,598 1,659,050 4,622,648 0 Local Other (98000) 93, , , % 39,823 Local Before & After Care (98139) 158, ,708 15, ,823 97% (3,990) Local Donations (98159) 20,000 36, , , % 16,059 Local Cafeteria (91100) 327, ,952 22, , % 65,155 Local Construction Fund (98133) 242, , , % 663,755 Local Summer Camps (98205) 48,000 17,386 17,386 36% (30,614) Local Early Childhood (98060) 92, , , % 10,348 Local Local Grants (99126) Local Donations II (Annual Giving 98255) 2,960 2,960 Local Contingency (98079) 204, ,468 Local CSRP (98041) Local CSD Settlement (99150) 111, , ,992 Subtotal Local 4,059,310 4,820,380 2,230,310 7,050, % 761,070 Favorable Title I (40554) FY16 Title II (40114) FY16 Title III ELL (40560) FY16 6,086 6,086 IDEA B (40564) FY16 IDEA Preschool (40565) FY16 Title I (40554) FY17 1,465 1,465 27,535 29,000 Title II (40114) FY ,031 1,174 Title III ELL (40560) FY17 IDEA B (40564) FY ,170 35,109 IDEA Preschool (40565) FY17 Title I (40554) 185, , ,230 (245) Title II (40114) 35,941 36,039 36, Title III ELL & Immigrant (40560) 19,887 19,887 19,887 IDEA B (40564) 102, , ,168 IDEA Preschool (40565) Title IV (40532) 10,000 10,000 10,000 Subtotal 356, ,251 68, ,073 (147) Favorable FSF Revenue 10,343,345 11,288,992 2,299,396 13,588, % 945,647 Favorable Petty Cash Fund (outside FSF) 1,200 2,454 2,454 N/A 1,254 Total Revenue 10,344,545 11,291,445 2,299,396 13,590, % 946,901 Favorable Total FSF Revenue ( and FY17 C/O) 12,642,741 B) Expenses FSF: % of Budget Remaining (Reconciled from DGL115 & DGL025) Full Year Budget 6/30/2018 (Target <=) Balance Variance Salaries (510) 4,835,000 4,835,603 (603) Favorable Other Employment Costs (520) 2,476,270 2,445,660 99% 30,610 Favorable Services to Clients & Agencies 2,978 (2,978) N/A Travel (540) 37,200 23,353 63% 13,847 Favorable Debt Service (530) 506, ,369 (0) Favorable Contracted Services (550) 1,814,667 1,815,169 (502) Favorable Supplies & Materials (560) 711, ,107 87% 95,394 Favorable Capital OutlayEquipment (570) 521, , % (92,462) Favorable Capital OutlayProperty (580) 543, ,978 99% 7,022 Favorable 11,445,507 11,395,180 50,327 Favorable Net FSF Excess or (Deficit) for Year 2,193,209 Note: YTD Revenue Minus YTD Expenditures Contingency Reserve (2%) (177,825) FSF Cash Balance less required Contingency Reserve 2,015,384 Variance Notes*: *Variance footnoted if percentage spent is 25 percentage points higher than the percentage of months into the fiscal year TWELVE MONTHS = EXPENDITURE VARIANCE >=125% 3

4 Financial Summary Update Cash Basis Twelve Months Ended June 30, 2018 II) YTD Budget vs. Expenditure Trending: Jul17 Aug17 Sep17 Oct17 Nov17 Dec17 Jan18 Feb18 Mar18 Apr18 May18 Jun18 Total FSF Revenue ( and FY17 C/O) 1,053,562 2,107,124 3,160,685 4,214,247 5,267,809 6,321,371 7,374,932 8,428,494 9,482,056 10,535,618 11,589,179 12,642,741 Actual YTD FSF Expenditures 1,036,376 1,969,741 3,138,664 4,029,369 4,903,397 5,708,402 6,515,827 7,763,474 8,842,557 9,623,346 10,504,925 11,395,180 Average Median Amount Spent Per Month 1,036, ,365 1,168, , , , ,425 1,247,647 1,079, , , , , ,480 Remaining Balance 11,606,365 10,673,000 9,504,077 8,613,372 7,739,344 6,934,339 6,126,914 4,879,267 3,800,184 3,019,395 2,137,816 1,247,561 14,000,000 12,000,000 Projected Ending Balance* = 1,247, *Does not include encumbrances or petty cash 10,000,000 8,000,000 6,000,000 4,000,000 Total FSF Revenue ( and FY17 C/O) Actual YTD FSF Expenditures Amount Spent Per Month Remaining Balance 2,000,000 Jul17 Aug17 Sep17 Oct17 Nov17 Dec17 Jan18 Feb18 Mar18 Apr18 May18 Jun18 III) Local Funding Update: Number of Students Budget* Actual Difference Appoquinimink 11 19,784 19,784 Brandywine 7 30,757 30,757 Christina 429 1,920,654 1,920,654 Colonial , ,487 Red Clay , ,590 Smyrna 2 2,326 2,326 *According to the Charter School Billing Report in IMS 740 2,963,598 2,963,598 4

5 Financial Summary Update Cash Basis Twelve Months Ended June 30, 2018 IV) Cash Position as of June 30, 2018: (Reconciled from DGL025, DGL060, & DPO002) AMT Received YTD Encumbered Remaining Balance % & Encumbered State Unit Formula (05213) 5,786,738 5,739,527 47, % State Stipends (05195) State Technology Block Grant (05235) 10,591 10,591 State Ed Sustainment Fund (05289) 132, ,507 State Minor Capital Improvements (50022) 82,790 82,790 State Education Opportunity Grant (05297) 100, ,000 Local District Funding (98000) 4,756,246 3,856, , % Local Before & After Care (98139) 169, ,055 27, % Local Donations (98159) 361, , , % Local Cafeteria (91100) 415, ,323 25, % Local Construction Fund (98133) 906, , , Local Summer Camps (98205) 17,386 1,324 16, % Local Early Childhood (98060) 103,793 94,225 9, % Local Local Grants (99126) Local Local Donations II (98255) 2,960 2, % Local CSRP (98041) % Local CSD Settlement (99150) 111, ,992 Local Contingency (98079) 204, , % Title I (40554) FY16 Title II (40114) FY16 Title III ELL (40560) FY16 6,086 6,086 IDEA B (40564) FY16 IDEA Preschool (40565) FY16 Title I (40554) FY17 29,000 29,000 Title II (40114) FY17 1,174 1,174 Title III ELL (40560) FY17 IDEA B (40564) FY17 35,109 35, IDEA Preschool (40565) FY17 Title I (40554) 185, ,434 23, % Title II (40114) 36,039 32,963 3, % Title III ELL & Immigrant (40560) 19,887 13,439 6, % IDEA B (40564) 102,168 88,313 13, % IDEA Preschool (40565) Title IV (40532) 10,000 9, ,588,388 11,395, ,193, % Petty Cash Fund Balance (outside FSF) 2,454 Total 13,590,842 11,395,180 2,193,209 84% 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 State Funds 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 AMT Received YTD 500,000 Local Funds AMT Received YTD 200, , , , , ,000 80,000 60,000 40,000 Funds AMT Received YTD 20,000 Title I (40554) Title II (40114) Title III ELL & Immigrant (40560) IDEA B (40564) IDEA Preschool (40565) Title IV (40532) V) FY17 Financial Audit Final Report Submitted to DDOE on October 20,

6 Financial Expenditure Detail Update Cash Basis Twelve Months Ended June 30, 2018 (Reconciled from DGL115, DGL025, & DPO002) Category Code Description Subtotals Budget 6/30/2018 6/30/2018 Total Encumbered & Remaining Balance % (Target <=) % Encumbered & Notes 510 Various Salary All Employees 4,835,000 4,835, ,835,603 (603) Total Salaries/Other (510) 4,835,000 4,835, ,835,603 (603) Pensions/Employer Share (22.28%) 1,026,568 1,025, ,025, Health Insurance/Employer Share (9,988) 1,005, , ,105 15,200 98% 98% Workmen's Compensation (1.45%) 69,965 70, ,116 (151) Social Security/Employer Share (6.2%) 299, , ,315 11,845 96% 96% Unemployment Insurance (0.11%) 5,308 5, ,312 (5) Medicare/Employer Share (1.45%) 69,965 67, ,195 2,770 96% 96% Total Other Employment Costs (520) 2,476,270 2,445, ,445,660 30,610 99% 99% Grant Reversions Tuition Reimbursement (state reimburses school for this expense) 2, ,978 (2,978) Total Svcs To Clients & Agencies (530) 2, ,978 (2,978) Mileage/Pvt Car in State 2,700 1, , % 72% Meals In State 6,000 2, ,733 3,267 46% 46% Mileage/Pvt Car out of State 4,000 2, ,921 1,079 73% 73% Meals Out of State 4,000 2, ,520 1,480 63% 63% Lodging/Out of State 12,500 10, ,090 2,410 81% 81% Other travel Out of State 8,000 3, ,144 4,856 39% 39% Total Travel (540) 37,200 23, ,353 13,847 63% 63% 6

7 (Reconciled from DGL115, DGL025, & DPO002) Category Code Description Subtotals Budget 6/30/2018 6/30/2018 Total Encumbered & Remaining Balance % (Target <=) % Encumbered & Notes Debt Loans Bond Financing 506, , ,369 (0) Total Debt Service (550) 506, , ,369 (0) Other Prof ServiceInstructional Staff 182, , ,376 48,299 97% 74% Data Service Center (DSC) Enrollment, Attendance, PHRST, RAP,Truancy 14,900 Substitute Service 19,000 S&P Annual Surveillance Fee (Bonds) & DEDA Annual Fees 4,900 Office Movers 85,000 Auditing Services 17,375 Providence Service Corporation Alternative School 20,000 Construction Project Manager 20,000 POS Maintenance/Service Contract 1, Medical Services (Occupational & Speech Therapy, Psychologists, etc.) 188, , ,348 (6,348) 103% 103% Legal Services 7,500 3, ,837 3,663 51% 51% Computer Services 25,000 17, ,514 7,486 70% 70% Postage 3,300 1, ,548 1,752 47% 47% Telecommunication 23,000 32, ,201 (9,201) 140% 140% Includes Data, Phones and TYCO (security) Water & Sewer 14,200 14, ,920 (720) 105% 105% Energy 144, , ,600 (18,600) 113% 113% Equipment Lease (Copiers & Chromebooks) 234, , ,081 4,503 98% 98% Buildings Office Space 2,800 3, ,587 (787) 128% 128% Additional 20' Storage Trailers for Summer Library Construction Fleet Rental (Transportation) 719, , ,587 (12,979) 102% 102% Insurance (Bldg & Contents) 36,500 31, ,568 4,932 86% 86% Maintenance 80,000 75, ,982 4,018 95% 95% Equipment Repair 18,000 18, ,891 (891) 105% 105% Printing & Binding 9,000 5, ,810 3,190 65% 65% Advertising 5,000 7, ,813 (2,813) 156% 156% Bus Driver Ads / Summer Camp Ads & Signs Assoc Dues & Conf Fees 9,000 8, , % 89% Student Body Activity 44,000 47, ,205 (3,205) 107% 107% Training 41,000 20, ,928 20,072 51% 51% Trash Removal Sanitary Services 27,500 27, ,764 (264) 101% 101% Total Contracted Services (550) 1,814,667 1,815, ,815,169 (502) 7

8 (Reconciled from DGL115, DGL025, & DPO002) Category Code Description Subtotals Budget 6/30/2018 6/30/2018 Total Encumbered & Remaining Balance % (Target <=) % Encumbered & Notes Office Supplies 112,500 87, ,852 24,648 78% 78% Employee Recognition/Teambuilding Food 168, , ,808 (808) Medical Supplies/Medicines/Health Aids 19,800 8, ,799 11,001 44% 44% Custodial Supplies 51,200 57, ,337 (6,137) 112% 112% Computer Supplies 8,000 11, ,892 (3,892) 149% 149% Updated PCS (point of sale program) components for Meal Program Instructional Supplies (mag, manuals, audio, etc.) 140, , ,812 17,188 88% 88% Text Books/Library and Yearbooks 99,000 53, ,468 45,532 54% 54% Building Materials 48,000 49, ,220 (1,220) 103% 103% Institutional Equimpment Expensed 44,000 30, ,469 13,531 69% 69% Athletic Supplies 21,000 25, ,450 (4,450) 121% 121% Total Supplies/Materials (560) 711, , ,107 95,394 87% 87% Office & Computer Equip/Software Institutional Equipment 400, , ,048 (59,048) 115% 115% Audio Visual Equipment 91, , ,781 (39,281) 143% 143% Interactive Boards and Cabling Custodial/Maint Equipment 30,000 24, ,133 5,867 80% 80% Refrig/Air Condit/Heat Total Capital OutlayEquipment (570) 521, , ,962 (92,462) 118% 118% Land Improvements 18,000 17, , % 96% Maj Bldg Alteration by Contract 525, , ,628 6,372 99% 99% Total Capital OutlayProperty (580) 543, , ,978 7,022 99% 99% Grand Totals All Categories 11,445,507 11,395, ,395, , See Comments Above 8