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HomeMy WebLinkAboutOrdinance No. 2026-09 Aventura City of Excellence School FY 2026-2027 Budget - May 21, 2026Aventura City of Excellence School FY 2027 Budget April 23, 2026 Key Assumptions ■ FEFP per student is flat year -over -year: $8,819. ■ Enrollment is budgeted at 1140 students. ■ Headcount remains flat year -over -year at 98.5 positions ■ Capital Outlay rate increased as per FDOE guidance. ■ Federal Revenues budgeted relate to Title IV- $27.5K. ■ Referendum Stipends revenue: estimated FY27 allocation is $1.9M. In addition to salary supplements, safety and security related expenses are covered by these revenues. ■ Base salaries include Merit increases of 2%. Financial Summary ...... BudgetCategory ...Proposed ,. Budget . Operating Revenue 13,148,207 13, 242, 053 14, 988,224 1,840,017 14% Proceedsfrom Long Term Debt - Lease 153,695 121,470 261,705 108,010 70% City Subsidy (Advance from the City's General Fund) Total Revenues 700,000 14,001,902 700,000 14,063,523 - 15,249,929 (700,000) 1,248,027 -100% 9% Operating Expenditures 13,659,077 14,089,750 14,696,698 (1,037,621) -8% Capital Expenditures 286,470 350,073 415,357 (128,887) -45% Repayment of Debt 56,355 45,097 137,875 (81,520) -145% Total Expenditures 14,001,902 14,484,920 15,249,929 (1,248,027) -9% Revenues over/(under) Expenditures - (421,397) - - 0% .I Enrollment Breakdown 120 118 120 1st 115 122 157 42 115 117 12 3rd 115 119 127 12 4th 115 119 127 12 5th 115 115 127 12 6th 115 114 127 12 7th 112 108 117 5 Bth 110 108 111 1 Total 1032 1039 1140 108 10. Budget Highlights ■ Enrollment is budgeted to increase by 10.5% to 1140 students. Consolidated Financial Report Enrollment FEFP rate per Student 1,032 1,039 $ 8,963 $ 8,819 $ Revenue Budget Highlights 1,140 108.0 10% 8,819 $ (144) -2% Rate per FTE is kept flat to the FY 2025-2026 forecast. REVENUE: FTE $ 9,249,943 $ 9,093,595 $ 10,053,660 $ 803,717 9% 0 Capital Outlay 1,720,344 1,550,844 2,155,147 434,803 25% 0 NSLP Revenue (National School Lunch Program) 78,022 121,613 129,986 51,964 67% ■ Food Service Revenue 140,000 192,054 235,320 95,320 68% Grants - Federal/State/Local - 71,484 27,523 27,523 0% ■ Before and Aftercare Revenue 175,000 180,513 198,156 23,156 13% Miscellaneous Revenues 123,337 123,337 213,337 90,000 73% ■ Other Program Revenue - 109,370 - - 0% Referendum Stipends 1,661,561 1,799,243 1,975,096 313,534 19% ■ Subtotal Operating Revenue $ 13,148,207 $ 13,242,053 $ 14,988,224 $ 1,840,017 14% Other Non -Revenue Proceeds from Long Term Debt- Lease Advance from the City's General Fund TOTAL REVENUE AN 153,695 121,470 261,705 108,010 70% 700,000 700,000 - (700,000) -100% $ 14,001,902 $ 14,063,523 $ 15,249,929 $ 1,248,027 9% ■ ■ State Capitation increased with enrollment. Capital Outlay increased as per FDOE guidance. Food Service and Before/Aftercare Revenues increased with enrollment. Federal Grants: Title IV grant in FY27. Miscellaneous revenues include billboard advertising revenues and interest income. Referendum Stipends are budgeted at the same rate per FTE as FY26. Lease proceeds relate to computer equipment required. City contribution budgeted at $0 in FY27. Compensation Expense Consolidated Financial Report ° • ' •' i i EXPENDITURES Administrative Staff Principal 1.0 1.0 1.0 Assistant Principal 2.0 2.0 2.0 School Operations Administrator 1.0 1.0 1.0 Administrative Assistant 3.0 3.0 3.0 Receptionist 1.0 1.0 1.0 Enrollment Management 1.0 1.0 1.0 Guidance Counselor 3.0 3.0 2.0 Dean of Curriculum/Dean of Students 1.0 1.0 1.0 IT Support 1.0 1.0 1.0 Hall Monitor 4.0 4.0 4.0 Subtotal Administrative Staff 18.0 $ 1,215,670 18.0 $ 1,217,845 17.0 $ 1,199,376 $ 16,294 1 % Budget Highlights Instruction Staff Teachers ESE/Special Education Teachers 68.0 6.0 62.0 5.5 64.0 4.5 Curriculum Resource Teacher 3.0 3.0 4.0 Instructional Aides 3.0 6.0 6.0 Subs 1.0 4.0 3.0 Subtotal Instructional Staff 81.0 $ 4,741,836 80.5 $ 4,750,893 .5 $ 4,881,625 $ (139,789) -3% ■ Base compensation includes Merit increase of 2%. Tutoring $ 16,625 $ 46,701 $ 60,125 $ (43,500) -262% Bonuses 52,911 133,608 57,613 (4,701) -9% Stipends 1,358,267 1,476,004 1,593,045 (234,778) -17% ■ Stipends increase is in line with increased Benefits 890,514 922,260 922,844 (32,329) -4% Referendum revenues. Payroll Taxes 586,647 578,406 610,123 (23,476) -4% Subtotal Other Compensation - Group Insurance, Benefits, and Payroll Taxes $ 2,904,965 $ 3,156,980 $ 3,243,749 $ (338,784) -12 % Total Compensation 99.0 $ 8,862,471 98.5 $ 9,125,718 98.5 $ 9,324,750 $ (462,279) -5% l-: Professional &Vendor Services Consolidated Financial Report = • • 4 •. Variance - -nce Professional Services Management Fee $ 977,116 $ 977,116 $ 1,775,787 $ (798,671) -82% Legal Fees 9,900 9,900 9,900 - 0% Fee to County Board 44,816 41,945 44,095 721 2% Outside Staff Development 45,050 40,845 44,500 550 1 % Accounting Services -Audit 11,000 11,000 11,000 - 0% Professional Fees - Other 21,637 20,888 27,980 (6,343) -29% Computer Services Fees 207,432 207,432 238,260 (30,828) -15% Advertising/Marketing Expenditure 10,144 8,814 8,721 1,424 14% Subtotal Professional Services $ 1,327,095 $ 1,317,939 $ 2,160,243 $ (833,148) -63% Vendor Services Contracted Pupil Transportation $ 458,316 $ 444,951 $ 418,822 $ 39,494 9% Contracted Mental Health Services 106,510 81,024 83,943 22,567 21 % Extra -Curricular Activity Events & Transportation 44,450 44,568 44,468 (18) 0% Contracted Food Services 230,000 255,132 275,068 (45,068) -20% Drug Testing Fees 2,000 2,617 2,617 (617) -31% Licenses & Permits 2,365 2,366 2,365 - 0% Contacted Custodial Services 416,325 416,325 507,141 (90,816) -22% Contracted Security 219,235 209,255 159,319 59,916 27% Subtotal Vendor Services $ 1,479,201 $ 1,456,237 $ 1,493,744 $ (14,543) 4% I Budget Highlights ■ Management fees are at contractual level (12%). ■ Computer Service Fees increased in line with enrollment. ■ Transportation costs are lower based on negotiation with service provider. ■ Mental Health expense is budgeted based on anticipated student needs. ■ Food Service expense increased with enrollment. ■ Custodial Services include increases to cover additional cleaning required for use of school facilities for community activities/events. School Administration & Instructional Expenses Consolidated Financial Report Administration Expenditures Travel Meals Lodging Business Expenditures- Other Dues & Subscriptions Printing Office Supplies Subtotal Administration Expenditures Instructional Expenditures Textbooks & Reference Books Consumable Instructional (Student) Consumable Instructional (Teacher) Instructional Licenses Testing Materials Florida Teacher Lead Program Contracted SPED Instruction $ 7,750 $ 8,368 $ 8,368 $ (618) -8% 250 3,030 3,030 (2,780) -1112% 5,000 5,000 5,000 - 0% 11,892 12,097 11,892 - 0% 10,550 10,383 10,550 - 0% 52,500 52,500 52,500 - 0% 12,200 12,200 12,200 - 0% $ 100,142 $ 103,577 $ 103,540 $ (3,398) -3% $ 57,275 $ 57,275 $ 44,948 $ 12,327 22% 11,000 11,000 21,000 (10,000) -91 % 350 248 350 - 0% 109,609 60,058 89,524 20,085 18% 1,650 1,650 1,150 500 30% - 22,500 - - 0% 75,000 72,019 65,000 10,000 13% Subtotal Instructional Expenditures $ 254,884 $ 224,751 $ 221,972 $ 32,912 13% Budget Highlights ■ Instruction expenses are based on assessed student needs. Other Operating & Fixed Expenses Consolidated Financial Report • ' = 1 Variance Variance Other Operating Expenditures Telephone & Internet $ 57,194 $ 51,471 $ 68,271 $ (11,077) -19% Postage 5,258 6,495 6,696 (1,438) -27% Electricity 154,665 152,837 154,665 0% Water& Sewer 47,940 65,580 47,940 - 0% Waste Disposal 19,173 29,218 20,131 (959) -5% Pest Control 8,865 5,329 8,865 - 0% Cleaning Services 88,417 76,504 88,417 - 0% Building Repairs & Maintenance 600,789 734,938 353,606 247,183 41 % Equipment Repairs & Maintenance - - 3,000 (3,000) 0% Bank Charges & Loan Fees 1,214 3,697 3,697 (2,483) Property Taxes 45 1,468 1,468 (1,423) Temp Agency & Staff Recruitment Fees 47,665 89,670 52,078 (4,413) -9% Subtotal Other Operating Expenditures $ 1,031,225 $ 1,217,206 $ 808,834 $ 222,391 22% Fixed Expenditures Office Equipment - Leasing Expenditures $ 24,624 $ 32,233 $ 24,624 $ - 0% Professional Liability & Other Insurance $ 135,435 $ 168,089 $ 114,991 $ 20,444 15% Subtotal Fixed Expenditures $ 160,059 $ 200,322 $ 139,615 $ 20,444 13% Rent Expense $ 444,000 $ 444,000 $ 444,000 $ TOTAL OPERATING EXPENDITURES 0% $ 13,659,077 $ 14,089,750 $ 14,696,698 $ (1,037,621) -8% Budget Highlights ■ Prior year BR&M budget includes $330K for AC units rebuild. Insurance cost is budgeted based on latest available rates with an increase of 7%. Capital Expenses & Debt Repayment Consolidated Financial Report BIDGET FORECAST: I D Capital Expenditures Computers - Hardware $ 185,415 $ 225,923 $ 274,902 $ (89,487) -48% IT Infrastructure - 6,747 25,000 (25,000) 0% Audio Visual Equipment 61,900 62,797 17,955 43,945 71% FF&E 12,500 12,570 12,500 - 0% Improvements Otherthan Building 26,655 42,035 85,000 (58,345) -219% Budget Highlights Total Capital Expenditures $ 286,470 $ 350,073 $ 415,357 $ (128,887) 45% FY 27 budget includes refresh of computer hardware for students and staff, interactive Total Operating and Capital Expenditures $ 13,945,547 $ 14,439,823 $ 15,112,055 $ (1,166,508) -8% displays and a fire panel upgrade. Revenue over/(under) Expenditures $ 56,355 $ (376,300) $ 137,875 $ 81,519 145% Long term Debt Repayment $ 51,232 $ 41,254 $ 122,622 $ (71,390) -139% Interest Payment 5,123 3,843 15,253 (10,130) -198% Total Long Term Debt & Interest Repayment $ 56,355 $ 45,097 $ 137,875 $ (81,520) -145% Payments relate to finance leases used to purchase IT equipment. Total Operating, Capital Expenditures & Debt Repayment $ 14,001,902 $ 14,484,920 $ 15,249,929 $ (1,248,027) -9% Change in Fund Balance $ - $ (421,397) $ 1 7 $ - 0% 151A011SNED 2003 3333 NE 188th Street Aventura, Florida 33180 Office Telephone: (305) 466-1499 Website: www.aventuracharter.org ■�� Am--)■