JUSTIN H. MATTHEWS, M.ED. EXECUTIVE DIRECTOR, MOUNTAIN ISLAND CHARTER SCHOOL JENNIFER J. LUCAS, M.ED. MANAGING DIRECTOR, VOYAGER ACADEMY LINK FOR TRAINING MATERIALS NC Charter Budget Development: A comprehensive study of per pupil revenue, staffing, salary and facility costs within the overall school budget.

Budget and Financial Reference Materials  State Driven Allotments/Constants  State per pupil ADM  State EC  Employee-Related items (Health, SS, Average Salaries)  Finance Manual  Cash Management  Chart of Accounts  Legislative and Policy  Link to CSADM Allotment and Projection System

Budget and Financial Reference Materials  Allotment Reports  Total number of expected students  Total number of recorded students post-ADM  Total dollar amounts of eligible Program Report Codes (PRC)  Reversions or additions based on enrollment and other factors

EC and Grant Funds grants/allotment-allocations/per-child-allocations grants/allotment-allocations/per-child-allocations  EC and certain grants require additional information, application or approval in order to fund  Title I  Title II  Gifted  PRC 029 (ASD)  Certain PRCs will be available based on budget year  Summer Reading  ARRA/RTTP

Local Per-Pupil Funding Each County has a different method for both calculation and payment of local per-pupil revenue to charter school. Charter school must account for the residency by county of each student and provide proof (billing) to district office based on the district’s guidelines 1. Make contact with district liaison 2. Obtain payment schedule, per-pupil formula (revenue constant x time) and process for billing 3. Budget and track over the year

Budget Instrument Revenue/Input/Assumptions Tab  Source Inputs for all constants  Student Totals, including EC and ELL (if applicable)  Utilize a 5 year format to project growth  Embed formulae and structure to minimize mistakes amidst regular changes to instrument

Salary Worksheet If new/growing school, staffing plan and accurate salary estimations are critical If existing/stable, recommend table by position and salary with formula to add raise component for use in future years Employee driven costs-insurance, SS, unemployment, etc. could be integrated

Detail Worksheet Revenue and Expense will be a combination of manual entry and formulae drawn from other tabs Recommend 5 year format for planning purposes Most often utilized to create and in conjunction with general financial accounting for the school year, including monthly Budget versus Actual reconciliation Helps monitor bottom line May also evolve into monthly (cash flow) budgeting

Summary Tab Most often completely drawn from other tabs Utilized for presentations of school budget  May be as complex or as simple as the audience demands  Synonymous with 5 year projection/proforma Tailored to fit needs of the school  Staffing  Enrollment  Attrition  Raise/ADM/Per pupil/CPI

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We Can Help! Justin H. Matthews (954) Jennifer J. Lucas (954)