April 2010
The board is having our annual election this month to fill two positions. Two candidtates have stepped forward to run for these open positions: Ed Stankiewicz and Donna Randall (Learn more about them at http://laboard.lincolnacademy.net/SitePages/2010BoardElections.aspx .) We will again be running this election via email, so watch your email inbox for more details tomorrow. Each parent and staff members are eligible voters. One of the strengths of our school is in our parents and the many volunteer hours that are given by our parents. These volunteer hours show the strength of our community. Currently, the number of volunteer hours we have recorded this year (5,647.27) is below our goal (10,000). If you have volunteered this year but have not entered your hours, please http://www.lincolnacademy.net/volunteers/mainscreen.php . We invite you to read reports from our last board meeting and the committee reports that were presented at that meeting on our website: http://laboard.lincolnacademy.net .
Q and A
Question: I have heard that more budget cuts need to be made at the school. What is the financial status of the school?
Answer: Currently, the school is in a very strong financial position. In fact, during our recent charter renewal, Jeffco School District told us that we are in the strongest financial position for a charter school in their district. This year, we have currently spent only 66% of our budget and we are 75% of the way through the school year. At the beginning of the school year, our cash balance was $1,556,354.78 and our current cash balance is $2,220,275.91.
To understand the school budget, it is helpful to know our funding sources and where our money goes. The school gets our funding from three sources: Per Pupil Revenue (PPR), Special Education (SPED), Performance Promise Plan (PPP) and Capital Construction.
The PPR is set by the legislature each year. Charter Schools receive a percentage of their school district’s PPR amount. The percentage is established in the contract between the charter school and the school district. We receive 100%, but have to give back a total of 5% to the district. This is to cover administrative costs and purchase services. This year, we received $6,906.12 per student. In combination with the SPED and PPP, these revenues make up 94% of our revenues. For more information about our revenue and available balances, please review the presentation prepared by the finance committee at the LA Board website.
The legislature has approved the PPR for next year (it is currently in conference committee with only minor changes expected) which will mean cuts of 6.3% for next year. The budget committee has been meeting and has already managed to pare our budget to account for half of the projected cuts. Although we will need to be careful in our spending next year, we are in strong financial shape and do not anticipate using any of our carry forward (reserve funds) to fund our day to day operations next year.
The board is also working on finding alternate sources of funding through grants and corporate sponsorships. The Board’s Development Committee is currently researching ways to market our school to area businesses and looking into various grant opportunities. If you are interested in helping the school find grants or working with area businesses to get donations, please contact Kristi Geisz at
kristigeisz@lincolnacademy.net.
If you have any further questions about our budget, please feel free to contact Miss Mahoney and she will gladly answer your questions.
Here are some upcoming dates: