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09-18-2003
Bo~d of Mayor Jeffrey M. Perl0w Commissioner Zev Auerbach Commissioner Jay R. Beskin Commissioner Ken Cohen Commissioner Bob Diamond Commissioner Manny Grossman Commissioner Harrv Holzberu City of Aventura Aventura Charter Elementary School Board of Directors Meeting AGENDA September 18, 2003 Ci~_ Mmx~orr_ Eric M. Soroka Dr. Katherine Bray Murphy Charter Schools USA following 6 p~m B~ Heating 19200 West Country Club Drive Aventura, Florida 33180 CALL TO ORDERLROLL CALL APPROVAL OF MINUTES: May 20, 2003 June 3, 2003 MOTION TO ACCEPT FOR FILING FINANCIAL STATEMENTS FOR ELEMENTARY SCHOOL F/Y 2002-03 THE SPECIAL PURPOSE AVENTURA CHARTER CITY MANAGER'S REPORT AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2003-06, WHICH ORDINANCE ADOPTED A CHARTER SCHOOL OPERATING AND CAPITAL BUDGET FOR THE AVENTURA CHARTER ELEMENTARY SCHOOL FOR FISCAL YEAR 2003/04 (JULY 1 - JUNE 30) BY REVISING THE 2003/2004 FISCAL YEAR BUDGET DOCUMENT AS OUTLINED 1N EXHIBIT "A" ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; PROVIDING FOR AN EFFECTIVE DATE. fi. ADJOURNMENT. This meeting is open to the public. In accordance with thc Americans with Disabilities Act of 1990, all persons who are disabled and who need special accommodations to participate in this meeting because of that disability should contact the Office of the City Clerk, 305-466-8901, not later than Bvo days prior to such proceeding. One or more members of the Ciiy's advisory boards may be in attendance. Anyone wishing to appeal any decision made by the ACES Board of Directors with respect to any matter considered at such meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record oftbe proceedings is nmde, which record includes the testimony and evidence upon which the appeal is to be based. Agenda items may be viewed at the Office of the City Clerk, City of Aventura Government Center, 19200 West Country Club Drive, Aventura, Florida, 33180. Anyone wishing to obtain a copy of any agenda item should contact the City Clerk at 305-466-8901. Aventura Charter Elementary School Board ~f Directors Meeting September 18, 2003 MINUTES Government Center CHARTER ELEMENTARY SCHOOL 19200 w. Country Club Drive BOARD OF DIRECTORS MEETING Aventura, Florida 33180 June 3, 2003 6 PM 1. CALL TO ORDER/ROLL CALL: The meeting was called to order at 6:00 p.m. by Mayor Jeffrey M. Perlow. Present were Commissioners Zev Auerbach, Jay R. Beskin, Ken Cohen, Bob Diamond, Harry HoIzberg, Vice Mayor Manny Grossman, Mayor Pedow, City Manager Eric M. Soroka, City Clerk Teresa M. Soroka and City Attorney David M. Wolpin. As a quorum was determined to be present, the meeting commenced. 2. PLEDGE OF ALLEGIANCE: Albert Milian, Esq., led the pledge. 3. PUBLIC HEARING: ORDINANCE: SECOND READING: Mr. Wolpin read the following ordinance by title: AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, ADOPTING THE ATTACHED CHARTER SCHOOL OPERATING AND CAPITAL BUDGET FOR THE AVENTURA CHARTER ELEMENTARY SCHOOL FOR FISCAL YEAR 2003/04 (JULY 1 - JUNE 30), PURSUANT TO SECTION 4.05 OF THE CITY CHARTER; AUTHORIZING EXPENDITURE OF FUNDS ESTABLISHED BY THE BUDGET; PROVIDING FOR BUDGETARY CONTROL; PROVIDING FOR PERSONNEL AUTHORIZATION; PROVIDING FOR GIFTS AND GRANTS; PROVIDING FOR AMENDMENTS; PROVIDING FOR ENCUMBRANCES; PROVIDING FOR SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE. A motion for approval was offered by Commissioner Holzberg and seconded by Commissioner Cohen. Mayor Perlow opened the public hearing. There being no speakers, the public hearing was closed. The motion for approval passed unanimously by roll call vote and Ordinance No. 2003-06 was enacted. 4. ADJOURNMENT. There being no further business to come before the Board, the meeting adjourned at 6:05 p.m. Teresa M. Soroka, CMC, City Clerk MINUTES CHARTER ELEMENTARY SCHOOL BOARD OF DIRECTORS MEETING May 20, 2003 10 AM 19200 W. Country Club Drive Aventura, Florida 33180 1. CALL TO ORDER/ROLL CALL: The meeting was called to order at 10:00 a.m. by Mayor Jeffrey M. Perlow. Present were Commissioners Zev Auerbach, Jay R. Beskin, Ken Cohen, Bob Diamond, Harry Holzberg, Vice Mayor Manny Grossman, Mayor Perlow, City Manager Eric M. Soroka, City Attorney David M. Wolpin. City Clerk Teresa M. Soroka was absent. As a quorum was determined to be present, the meeting commenced. 4. RESOLUTION: Mr. Wolpin read the following resolution by title: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA ACTING AS THE BOARD OF DIRECTORS FOR THE AVENTURA CHARTER ELEMENTARY SCHOOL, AUTHORIZING THE CITY MANAGER TO ACT AS THE BOARD'S DESIGNEE TO EXECUTE LETTERS AND DOCUMENTS ON BEHALF OF THE BOARD; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE. A motion for approval was offered by Commissioner Diamond, seconded by Commissioner Holzberg, unanimously passed and Resolution No. 2003-45 was adopted. 5. PUBLIC HEARING: MOTION RECOMMENDING ADOPTION OF THE FOLLOWING ORDINANCE: Mr. Wolpin read the following ordinance by title: AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, ADOPTING THE ATTACHED CHARTER SCHOOL OPERATING AND CAPITAL BUDGET FOR THE AVENTURA CHARTER ELEMENTARY SCHOOL FOR FISCAL YEAR 2003104 (JULY I - JUNE 30), PURSUANT TO SECTION 4.05 OF THE CITY CHARTER; AUTHORIZING EXPENDITURE OF FUNDS ESTABLISHED BY THE BUDGET; PROVIDING FOR BUDGETARY CONTROL; PROVIDING FOR PERSONNEL AUTHORIZATION; PROVIDING FOR GIFTS AND GRANTS; PROVIDING FOR AMENDMENTS; PROVIDING FOR ENCUMBRANCES; PROVIDING FOR SEVERABILITY AND PROVIDING FOR AN EFFECTIVE DATE. A motion to recommend adoption was offered by Commissioner Diamond, seconded by Vice Mayor Grossman and unanimously passed by roll call vote. 4. ADJOURNMENT. There being no further business to come before the Board, the meeting adjourned. Teresa M. Soroka, CMC, City Clerk Approved by the Board of Directors on ri CITY OF AVENTURA FINANCE SUPPORT SERVICES DEPARTMENT MEMORANDUM TO: FROM: BY: DATE: SUBJECT: City Commission (ACES Board of Directors) Eric M. Soroka, City Manager Harry M. Kilgore, Finance Support Services Director September 12, 2003 Aventura Charter Elementary School Special Purpose Financial Statements September 18, 2003, ACES Board of Directors Meeting Agenda Item _3 Recommendation It is recommended that the Board approve the following motion: "Motion to accept for filing the Special Purpose Financial Statements of the Aventura Charter Elementary School for the fiscal year ended June 30, 2003." Background As required by State law and our Charter School Contract with the Miami-Dade District School Board, we have prepared financial statements for the School's fiscal year ended June 30, 2003. The statements were audited by Keefe McCullough & Co. Since there were no school operations for the year, the statements are fairly simplistic. The key number in the statements is the amount of the Fund Balance carried forward to the next year. Page 14 reflects the most detailed calculation of the fund balance of $144,494 which resulted from the year's activities. We budgeted transfers of $89,494 from the General Fund and $110,000 from the Florida Intergovernmental Finance Commission Capital Acquisition Fund. We also had total expenditures budgeted of $199,494. We transferred the total of $199,494 to the School Fund but expended only $126,819. This left $72,675 of unspent appropriations to be carried over to the next year's budget. In addition, we received a grant of $150,000 from the School Board. A total of $71,819 of the $126,819 of expenditures through June 30, 2003 qualified as grant reimbursable expenses. Therefore, the total fund balance is calculated as $72,675 from unspent appropriations and $71,819 from unbudgeted grant revenue for a total of $144,494. Page (2) Aventura Charter Elementary School Special Purpose Financial Statements The 2003/04 Charter School budget included a projection of $150,000 for the grant and $1,000 for carryover. The following summarizes the affect of the 2002/03 transactions on the 2003/04 ACES budget: 2003/04 2003/04 BUDGET ACTUAL DIFFERENCE Fund Balance $ 1,000 $144,494 $143~494 Grant Revenue 150,000 78,181 < 71,819> Total $151~000 $222,675 $ 71,675 Therefore, the $71,675 can be used to support the 2003/04 operations of the School. The Rules of the Auditor General, Chapter 10.550, requires that the Financial Statements be filed as an official record at a public meeting. This motion satisfies that requirement. A representative of Keefe McCullough & Company, the audit firm, will be present at the meeting. However, since the Statements are the responsibility of the City, I respectfully request that any questions be discussed with me prior to the meeting. HMKJmn AVENTURA CHARTER ELEMENTARY SCHOOL A Blended Component Unit of the City of Aventura, Florida Special Purpose Financial Statements For the Fiscal Year Ended June 30, 2003 AVENTURA CHARTER ELEMENTARY SCHOOL 3333 NE 188TM Street Aventura, Flodda 33180 Telephone: 305-466-1499 Fax: 305-466-1339 Website: www.aventuracharter.orq Aventura Governing Board Members Mayor Jeffrey M. Perlow Commissioner Zev Auerbach Commissioner Jay R. Beskin Commissioner Ken Cohen Commissioner Bob Diamond Commissioner Manny Grossman Commissioner Harry Holzberg City Manager Eric M. Soroka, ICMA-CM Principal Katherine Bray Murphy, Ph.D. Assistant Principal Julie Renee Aim Administrative and Management Service Provided by: Charter Schools USA 6245 N. Federal Highway, Fifth Floor Fort Lauderdale, FL 33308 Jonathan K. Hage, President and Chief Executive Officer Report Prepared by: The Finance Support Services Department of the City of Aventura AVENTURA CHARTER ELEMENTARY SCHOOL (A Blended Component Unit of the City of Aventura, Florida) FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION For the Initial Year Ended June 30, 2003 AVENTURA CHARTER ELEMENTARY SCHOOL FINANCIAL STATEMENT~ AND ADDITIONAL INFORMATION TABLE OF CONTENTS For the Initial Year Ended June 30, 2003 INDEPENDENT AUDITORS' REPORT MANAGEMENT'S DISCUSSION AND ANALYSIS FINANCIAL STATEMENTS Government-wide Financial Statements: Statement of Net Assets Statement of Activities Fund Financial Statements: Balance Sheet - Governmental Fund Statement of Revenues, Expenditures and Change in Fund Balance - Governmental Fund Notes to Financial Statements REQUIRED SUPPLEMENTAL INFORMATION Budgetary Comparison Schedule OTHER AUDITORS' REPORTS Independent Auditors' Report on Compliance and on Internal Control Over Financial Reporting Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Independent Auditors' Report to the Board of Directors PAGES 1-2 3-5 6 7 8 9 10-13 14 15-16 17-18 KEEFE, McCULLOUGH & CO., LLP CERTIFIED PUBLIC ACCOUNTANTS 6550 NORTH FEDERAL HIGHWAY ISRAEJ~ J. COMEZ, C.]~ A. NICHOLAS A. GROSS, CRA. SUITE 410 FORT LAUDERDALE, FLORIDA 33308 (954) 77 1-0896 FAX: (954) 938-9353 E-MAIL: kmc @kmccpa.com INDEPENDENT AUDITORS' REPORT To the Board of Directors Aventura Charter Elementary School Miami, Florida We have audited the accompanying financial statements of Aventura Charter Elementary School (a blended component unit of the City of Aventura, Florida) as of and for the initial year ended June 30, 2003, as listed in the table of contents. These financial statements are the responsibility of Aventura Charter Elementary School's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America, and standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall basic financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Aventura Charter Elementary School as of June 30, 2003, and for the initial year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated August 7, 2003, on our consideration of Aventura Charter Elementary School's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grants. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be read in conjunction with this report in considering the results of our audit. Aventura Charter Elementary School The management's discussion and analysis and budgetary comparison information on pages 3 through 5 and 14, respectively, are not a required part of the basic financial statements but are supplementary information required by accounting principles generally accepted in the United States of America. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the supplementary information. However, we did not audit the information and express no opinion on it. KEEFE, McCULLOUGH & CO., LLP Fort Lauderdale, Florida August 7, 2003 2 MANAGEMENT'S DISCUSSION AND ANALYSIS AVENTURA CHARTER ELEMENTARY SCHOOL MANAGEMENT'5 DISCUSSION AND ANALYSIS For the Initial Year Ended June 30, 2003 Our discussion and analysis of Aventura Charter Elementary School's (the School) financial performance provides an overview of the School's financial activities for the initial fiscal year ended June 30, 2003. Please read it in conjunction with the School's financial statements which immediately follow this discussion. OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the School's basic financial statements. The basic financial statements are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the financial statements. This report also contains other required supplementary information in addition to the basic financial statements themselves. Government-wide financial statements The government-wide financial statements, which consists of the following two statements, are designed to provide readers with a broad overview of the School's finances, in a manner similar to a private-sector business. The statement of net assets presents information on all the School's assets and liabilities, with the difference between the two reported as net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the School is improving or deteriorating. The statement of activities presents information showing how the School's net assets changed during the year. All changes in net assets are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods. The government-wide financial statements can be found on pages 6-7 of this report. Fund financial statements A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The School only has one category of funds - governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as balances of spendable resources available at the end of the fiscal year. Such information may be useful in evaluating the School's near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the School's near- term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and changes in fund balances provide reconciliation to facilitate this comparison between governmental funds and governmental activities, if applicable. The governmental fund financial statements can be found on pages 8-9 of this report. 3 AVENTURA CHARTER ELEMENTARY SCHOOL MANAOEMENT'$ DISCUSSION AND ANALYSIS For the Initial Year Ended June 30, 2003 Notes to financial statements The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 10-13 of this report. Other information In addition to the basic financial statements and accompany!ng notes, this report also presents certain required supplementary information concerning the School s adopted budget to actual-results. Required supplementary information can be found on page 14 of this report. GOVERNMENT-WIDE FINANCIAL ANALYSIS As noted earlier, net assets may serve over time as a useful indicator of financial position. The following table reflects the condensed government-wide statement of net assets. Since this is the initial period of the School operations, there is no audited previous year comparable data available. A comparative analysis of government-wide data will be presented in future years when the information is available. Aventura Charter Elementary School Current assets $ 241,950 Total assets $ 241,950 Liabilities $ 97,456 Net assets: Unrestricted 144,494 Total liabilities and net assets $ 241,950 Resources that are subject to external restrictions on how they may be used are classified as restricted assets. As of June 30, 2003, the School had no restrictea assets. The remaining unrestricted balance may be used to meet the School's ongoing obligations. Aventura Charter Elementary School's Change in Net Assets Revenues: Program revenues Operating grants and contributions Expenses: Administration Operations of plant Total governmental activities Change in Net Assets before transfers Transfers from: General Fund Capital Fund Change in Net Assets Net Assets, July 1, 2002 Net Assets, June 30, 2003 $ 71,819 71,819 66,073 60,746 126,819 (55,000) 89,494 110,000 199,494 144,494 $ 144,494 4 AVENTURA CHARTER ELEMENTARY SCHOOL MAiNAOEMEINT' DI$CUSSI0bl AND ANALYSIS For the Initial Year Ended June 30, 2003 FINANCIAL ANALYSIS OF THE SCHOOL'S FUNDS As noted earlier, the School uses fund accounting to maintain control over resources that have been segregated for specific activities or objectives. The focus of the School's governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the School's financing requirements. In particular, unreserved fund balance may serve as a useful measure of the School's net resources available for spending at the end of the fiscal year. As of the end of the year 2003, the School's governmental funds reported ending fund balance of $ 144,494. The total fund balance is unreserved and is available for spending at the School's discretion. The General Fund is the main operating fund of the School. At the end of fiscal year 2003, unreserved fund balance of the General Fund was $ 144,494. This balance is a result of transfers from the City of Aventura that have not been used as of June 30, 2003. These funds will be used for the School's operations in the following fiscal year. GENERAL FUND BUDGETARY HIGHLIGHTS Differences between the original budget and final amended budget resulted from decreases in nonoperating revenues, debt service - interest and capital outlay due to the creation of separate funds within the City of Aventura to account for transactions related to the financing and construction of the School facility. CAPITAL ASSETS AND DEBT ADMINISTRATION The School had no investment in capital assets during the initial year ended June 30, 2003. ECONOMIC FACTORS Facts, decisions, or conditions that are expected to have a significant effect on the financial position or results of operations of the School in fiscal year 2003/2004 include the following: On April 11, 2003, the City announced the hiring of Dr. Katherine Bray Murphy as principal of Aventura Charter Elementary School. Dr. Murphy brought with her a wealth of education and experience which will allow the City to successfully open and operate the school. The budget for the Aventura Charter Elementary School (ACES) for the fiscal year beginning July 1, 2003 and ending June 30, 2004 was adopted by the Board of Directors on June 3, 2003. Total projected revenues of $ 3,746,976 were equal to the projected expenditures for the fiscal year. The 2003/04 budget includes 44 full- time and 17 part-time positions. All teaching positions and most other positions were filled prior to the opening of the School on August 25th. The School is designed for 600 students in kindergarten through fifth grade. The number of applications for all grades, except the fifth, far exceeded available student slots. This required the use of a "lottery" program to select the students who would be enrolled in the School. School construction was completed in early August, 2003 allowing the School to open on schedule. 5 FINANCIAL STATEMENTS AVENTURA CHARTER ELEMENTARY SCHOOL STATEMENT OF NET ASSETS June 30, 2003 ASSETS CURRENT ASSETS: Pooled cash and cash equivalents Total current assets 241,950 241,950 NONCURRENT ASSETS Total assets LIABILITIES: Accounts payable Accrued expenses Deferred revenue Total liabilities LIABILITIES AND NET ASSETS NET ASSETS: Unrestricted Total net assets Total liabilities and net assets $ 241,950 $ 14,854 4,421 78,181 97,456 144,494 144,494 $ 241,95~ The accompanying notes to financial statements are an integral part of these statements. 6 AVENTURA CHARTER ELEMENTARY SCHOOL STATEMENT OF ACTI¥ITIE5 For the Initial Year Ended June 30, 2003 Expenses Charges Operating Capital for Grants and Outlay Services Contributions Funds FUNCTIONS/PROGRAMS: Governmental activities: Administration $ 40,724 Operations of plant 60,746 Facilities acquisition and construction 25,349 $ -- $ 71,819 $ Total governmental activities $ 126,819 $ -- $ 71,819 $ Activities Net Revenue and Change inner Assets $ 31,095 (60,746) (25,349) (55,OOO) General revenues: Transfer from General Fund Transfer from Capital Fund Total general revenues Change in net assets Net assets: July 1, 2002 June 30, 2003 89,494 110,000 199,494 144,494 144.._____,494 The accompanying notes to financial statements are an integral part of these statements. 7 AVENTURA CHARTER ELEMENTARY SCHOOL BALANCE SHEET - GOVERNMENTAL FUND June 30, 2003 ASSETS: Pooled cash and cash equivalents Total assets LIABILITIES: Accounts payable Accrued expenses Deferred revenue LIABILITIES AND Total liabilities ASSETS FUND BALANCE General Fund $ 241,950 $ 24__.~1,950 14,854 4,421 78,181 97,456 FUND BALANCE: Unreserved and undesignated Total liabilities and fund balance Reconciliation of the governmental fund balance sheet to the statement of net assets: GOVERNMENTAL FUND BALANCE There are reconciling amounts or items reported for governmental activities which are different in the statement of net assets 144,494 241,950 $ 144,494 NET ASSETS OF GOVERNMENTAL ACTIVITIES $ 144,494 The accompanying notes to financial statements are an integral part of these statements. 8 AVENTURA CHARTER ELEMENTARY SCHOOL STATEMENT OF REVENUES, EXPENDITURES AND CHANGE IN FUND BALANCE - GOVERNMENTAL FUND For the Initial Year Ended June 30, 2003 REVENUES: Federal sources Local sources Total revenues General Fund $ 71,819 199,494 271,313 EXPENDITURES: Current - Operations of plant Administration Facilities acquisition and construction Total expenditures Excess revenues over expenditures FUND BALANCE, July 1, 2002 FUND BALANCE, June 30, 2003 60,746 40,724 25,349 126,819 144,494 $ __144,494 NET INCREASE IN FUND BALANCE - GOVERNMENTAL FUND There are reconciling amounts or items reported for governmental activities which are different in the statement of activities 144,494 CHANGE IN NET ASSETS ON THE STATEMENT OF ACTIVITIES $ 14~4,494 The accompanying notes to financial statements are an integral part of these statements. 9 AVENTURA CHARTER ELEMENTARY SCHOOL NOTES TO FINANCIAL STATEMENTS June 30, 2003 NOTE 1 - ORGANIZATION AND OPERATIONS Aventura Charter Elementary School (the School), is a blended component unit of the City of Aventura, Florida. The School commenced operations in August, 2003 in the City of Aventura and now offers classes for grades kindergarten through fifth. NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Reporting entity: The School operates under a charter granted by the sponsoring school district, the Miami-Dade County Public School District. The current charter is effective until June 20, 2018. At the end of the term of the charter, the District may choose not to renew the charter under grounds specified in the charter in which case the District is required to notify the School in writing at least ninety days prior to the charter's expiration. During the term of the charter, the District may also terminate the charter if good cause is shown. Aventura Charter Elementary School is considered a blended component unit of the City of Aventura. The School may also be financially accountable if an organization is fiscally dependent on the School regardless of whether the organization has a separately elected governing board, a governing board appointed by another government, or a jointly approved board. In addition, component units can be other organizations for which the nature and significance of their relationship with the School are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. As a result of evaluating the above criteria, management has determined that no component units exist for which the School is financially accountable which would require inclusion in the School's financial statements. Basis of presentation: In June 1999, the Governmental Accounting Standards Board (GASB) unanimously approved Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments (the Statement). Certain of the significant changes in the Statement include the following: For the first time the financial statements include: · A Management Discussion and Analysis (MD&A) section providing an analysis of the School's overall financial position and results of operations · Financial statements are prepared using full accrual accounting for all of the School's activities. · A change in the fund financial statements to focus on the major funds, if applicable. These and other changes are reflected in the accompanying financial statements (including notes to financial statements). The School has elected to implement the general provisions of the Statement this year. 10 AVENTURA CHARTER ELEMENTARY SCHOOL NOTES TO FINANCIAL STATEMENT5 June 30, 2003 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Financial statements - government-wide statements: The School's financial statements include both government-wide (reporting the School as a whole) and fund financial statements (reporting the School's major fund). Both the government-wide and fund financial statement categorize primary activities as either governmental or business type. All of the School's activities are classified as governmental activities. In the government-wide statement of net assets, the governmental activities column is presented on a consolidated basis, if applicable, and is reported on a full accrual, economic resource basis, which recognizes all noncurrent assets and receivables as well as all noncurrent debt and obligations. The School's net assets are reported in three parts: invested in capital assets, net of related debt; restricted net assets; and unrestricted net assets. As of the initial year ended June 30, 2003, all of the School's net assets were classified as unrestricted. The government-wide statement of activities reports both the gross and net cost of each of the School's functions. The net costs, by function, are also supported by general revenues. The statement of activities reduces gross expenses by related program revenues, operating and capital grants. Program revenues must be directly associated with the function. Operating grants include operating-specific and discretionary (either operating or capital) grants while the capital grants column, if applicable, reflects capital-specific grants. This government-wide focus is more on the ability to sustain the School as an entity and the change in the School's net assets resulting form the current year's activities. Financial statements - fund financial statements: The accounts of the School are organized on the basis of funds. The operations of the sole fund is accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, equity, revenues and expenditures. The General Fund is employed in accounting for the financial activities of the School. It is a governmental fund type and is used to account for all financial transactions. Measurement focus and basis of accounting: Basis of accounting refers to the point at which revenues or expenditures/expenses are recognized in the accounts and reported in the financial statements. It relates to the timing of the measurements made regardless of the measurement focus applied. Governmental funds use the current financial resources measurement focus and the governmental-wide statement uses the economic resources measurement focus. Governmental activity in the government-wide financial statements is presented on the accrual basis of accounting. Revenues are recognized when earned and expenses are recognized when incurred. The governmental funds financial statements are presented on the modified accrual basis of accounting under which revenue is recognized in the accounting period in which it becomes susceptible to accrual (i.e., when it becomes both measurable and available). "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. For this purpose, the School considers revenues to be available if they are collected within one year of the end of the current fiscal year. 11 AVENTURA CHARTER ELEMENTARY SCHOOL NOIE~ TO FINANCIAL ~TATEMENT~ June 30, 2003 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Encumbrances: Encumbrances represent commitments relating to unperformed contracts for goods or services. At June 30, 2003, there were no encumbrances outstanding. Grant and contract revenue: Grant and contract revenue is recognized when the allowable costs as defined by the individual grant or contract are incurred. Monies received in advance for which no costs have been incurred are recorded as deferred revenue until allowable costs attributable to such monies are incurred. Deposits and Investments The School's cash and cash equivalents are maintained by the City in a pooled cash account for all funds. This enables the City to invest large amounts of idle cash for short periods of time and to optimize earnings potential. Cash and cash equivalents represents the amount owned by each fund of the City. Cash and cash equivalents, which consist of cash and short-term investments with original maturities of three months or less when purchased, include cash on hand, demand deposits, and investments with the State Board of Administration Investment Pool. Post retirement benefits The School provides no post-retirement benefits to employees. NOTE3-BUDGET The School formally adopted a budget for the initial year ended June 30, 2003. The budget has been prepared in accordance with generally accepted accounting principles. A comparison of actual results of operations to the budgeted amounts for the General Fund is presented as required supplemental information. NOTE 4 - DEPOSITS AND INVESTMENTS In addition to insurance provided by the Federal Depository Insurance Corporation, all deposits are held in banking institutions approved by the State Treasurer of the State of Florida to hold public funds. Under Florida Statutes Chapter 280, Florida Security for Public Deposits Act, the State Treasurer requires all Florida qualified public depositories to deposit with the Treasurer or another banking institution eligible collateral. In the event of a failure of a qualified public depository, the remaining public depositories would be responsible for covering any resulting losses. Accordingly, all amounts reported as cash and cash equivalents are deemed as insured or collateralized and are, therefore, not subject to classification by credit risk category under the provisions of GASB Statement No. 3. Deposits at June 30, 2003 were $ 241,950. 12 AVENTURA CHARTER ELEMENTARY SCHOOL NOTES TO FINANCIAL STATEMENTS Ended June 30, 2003 NOTE 5 - CONTINGENCIES AND COMMITMENTS The City of Aventura has entered into a contract for administrative and management services for the operations of the School. The contract expires in June, 2008 and provides for a fee based on the revenues of the School in the following amounts: Year Percentage of Revenues 1 13% 2-3 11% 4-5 10% The contract also provides for the subordination of the above fees based on the School's ability to pay operating and facility costs. The maximum subordinated fee percentages are as follows: Year Subordination Percentage 1-2 2% 3 3% 4-5 4% Additionally, certain other revenues that are attributable to the efforts of the management company will be compensated at a rate of ten percent. Other incentive fees provided for by the contract are based on financial and education performance goals. The School's operations are located at a facility that is owned by the City of Aventura. In September, 2002, the City entered into a bond indenture agreement with the Florida Intergovernmental Finance Commission through an interlocal governmental agreement. As a result, the City issued $ 12,610,000 in Series 2002 Revenue bonds to f'mance the acquisition of land and construction of a charter school as well as the construction of a community center of which approximately $ 6,651,100 related to the land and construction of the School facility. The School is committed to reimburse the annual debt service on the debt, including interest and principal, that is incurred by the City in the following amounts: Year ending June 30 2004 $ 442,600 2005 $ 441,500 2006 $ 441,000 2007 $ 442,400 2008 $ 440,700 Thereafter $ 9,940,100 The School received financial assistance from Federal and local governmental agencies in the form of grants. The disbursement of funds received under these programs generally requires compliance with terms and conditions specified in the grant agreements and may be subject to audit by the grantor agencies. In accordance with OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, the School is not required to conduct a "single audit" since the required threshold of Federal money is currently $ 300,000 and the School did not exceed such threshold. 13 REQUIRED SUPPLEMENTAL INFORMATION AVENTURA CHARTER ELEMENTARY SCHOOL BUDGETARY COMPARISON SCHEDULE June 30, 2003 REVENUES: Transfers in from City of Aventura Capital Projects Fund Grants Nonoperating revenues Total revenues BUDGETED AMOUNTS ORIGINAL FINAL ACTUAL BUDGET TO AMOUNTS, GAAP BUDGETARY DIFFERENCES BASIS OVER(UNDE~ $ 199,494 $ 199,494 $ 199,494 $ -- .... 71,819 -- 6,440,000 ...... 6,639,494 199,494 271,313 EXPENDITURES: Salaries 45,657 45,657 25,907 Management services 112,000 112,000 81,599 Administrative .... 5,324 Social security 3,493 3,493 2,106 Employee insurance 2,681 2,681 1,412 Utilities .... 4,201 Pension expense 457 457 2,987 Insurance 1,000 1,000 -- Supplies 29,000 29,000 687 Workers compensation 206 206 181 Travel -- -- 1,200 Unemployment taxes .... 215 Advertising 5,000 5,000 1,000 Debt service - interest 440,000 .... Capital outlay 6,000,000 .... Total expenditures 6,639,494 199,494 126,819 Excess of revenue over expenditures FUND BALANCE, July 1, 2002 144,494 FUND BALANCE, June 30, 2003 $ -- $ -- $ 144494 ACTUAL AMOUNTS GAAPBASIS $ 199,494 71,819 271,313 25,907 81,599 5,324 4,201 2,987 687 181 1,200 215 1,000 126,819 144,494 $ 144,494 14 OTHER AUDITORS' REPORTS KEEFE, McCULLOUGH & CO., LLP 6550 NORTH FEDERAL HIGHWAY ISRAEL ]. GOMEZ. C.RA. NICHOLAS A. GROSS. C.EA. SUITE 410 FORT LAUDERDALE. FLORIDA 33308 (954) 771-0896 FAX: (954) 938-9353 E-MAIL: kmc@kmccpa.com INDEPENDENT AUDITORS' REPORT ON COMPLIANCE AND ON INTERNAL CONTROL OVER FINANCIAL REPORTING BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS The Board of Directors Aventura Charter Elementary School Aventura, Florida We have audited the financial statements of Aventura Charter Elementary School, (a blended component unit of the City of Aventura, Florida) as of and for the initial year ended June 30, 2003, and have issued our report thereon dated August 7, 2003. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Compliance As part of obtaining reasonable assurance about whether the School's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with tho. se provisions was not an objective of our audit and, accordingly we do not express such an opinion. The results of our tests disclosed no instances of noncompliance that are required to be reported under Government Auditing Standards. Internal Control over Financial Reporting In planning and performing our audit, we considered Aventura Charter Elementary School's internal control over financial reporting in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and not to provide assurance on the internal control over financial reporting. Our consideration of the internal control over financial reporting would not necessarily disclose all matters in the internal control over financial reporting that might be material weaknesses. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements in amounts that would be material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. We noted no matters involving the internal control over financial reporting and its operation that we consider to be material weaknesses. 15 Aventura Charter Elementary School This report is intended solely for the information of School management, the Board of Directors and various other governmental agencies. This restriction is not intended to limit the distribution of this report, which is a matter of public record. KEEFE, McCULLOUGH & CO., LLP Fort Lauderdale, Florida August 7, 2003 16 KEEFE, McCULLOUGH & CO., LLP CERTIFIED PUBLIC ACCOUNTANTS 6550 NORTH FEDERAL HIGHWAY JOHN R. KEEFE, C.I~A JOHN E. McCULLOUGH, C.EA. (RETIRED) LOUIS R. PROIETTO, C.P.A. CYNTHIA L. CALVERT, CRA. ISRAEL J GOMEZ, C.EA. NICHOLAS A. GROSS, C.EA SUITE 410 FORT LAUDERDALE, FLORIDA 33308 (954) 771-0896 FAX: (954) 938-9353 E-MAIL: krac@kmccpa.com INDEPENDENT AUDITORS' REPORT TO THE BOARD OF DIRECTORS The Board of Directors Aventura Charter Elementary School Aventura, Florida This letter is written in connection with our audit of the financial statements of Aventura Charter Elementary School, (a blended component unit of the City of Aventura School District) as of and for the initial year ended June 30, 2003. The purpose of this letter is to communicate to you any comments and recommendations, and to comply with the requirements of Chapter 10.850 Rules of the Auditor General, Charter School Audits which requires that this report specifically address but not limit to the matters outlined in Rule 10.854(i)(d). The following statements relate to requirements of the Auditor General: There were no inaccuracies, irregularities, shortages, defalcations and/or violations of laws, rules, regulations or contractual provisions reported for the preceding audit because this is the initial year of operations. There were no recommendations made relating to the preceding audit because this is the initial year of operations. 3. There were no recommendations to improve the School's financial management or internal controls. There were no violations of laws, rules, regulations or contractual provisions discovered during our audit. 5. There were no illegal or improper expenditures discovered during our audit. There were no other matters requiring correction discovered during our audit, relating to improper or inadequate accounting procedures, improperly recorded transactions, fraud or other reportable conditions. The Charter School is operated by the City which was created by Resolution No. R-1104-95 of the Miami-Dade County Commission on July 25, 1995. 17 Aventura Charter Elementary School This report is intended solely for the information and use of the Board of Directors, management, the Auditor General of the State of Florida and the Miami-Dade County District School Board and is not intended to be and should not be used by anyone other than those specified parties. However, this report is a matter of public record and its distribution is not limited. /~, ~ ~; ~.. ~ ~, KEEFE, McCULLOUGH & CO., LLP Fort Lauderdale, Florida August 7, 2003 18 Report to Aventura Charter Elementary School Board of Directors September 18, 2003 Prepared by the Office of the City Manager l AVENTURA CHARTER ELEMENTARY SCHOOL 3333 NE 188m Street Aventura, Florida 33180 Telephone: 305-466-1499 Fax: 305-466-1339 Website: www.aventuracharter.or~ Governing Board Members Mayor Jeffrey M. Perlow Commissioner Zev Auerbach Commissioner Jay R. Beskin Commissioner Ken Cohen Commissioner Bob Diamond Commissioner Manny Grossman Commissioner Harry Holzberg City Manager Eric M. Soroka, ICMA-CM Principal Katherine Bray Murphy, Ph.D. Assistant Principal Julie Renee Alm Administrative and Management Service Provided by: Charter Schools USA 0 I Student Demographics and Enrollment White 328 54.9% Black 55 9.2% Hispanic 200 33.5% Asian 10 1.7% Multiracial 4 .7% Totals 597* 100% * As of 9/11/03. It is anticipated the school population will be 600 by 9/17/03. K 103 I 100 2 100 3 100 4 98 5 96 Totals 597* The School has received permission from DCSB to exceed capacity in lower grades to offset the under capacity in the higher grades. Bus Transportation Bus transportation services are contracted by the City with AIA Transportation and consist of two bus routes. The service area is north of Porto Vita to the City's northem boundary. Approximately, 125 children ride the bus. The School has been approached by several parents inquiring whether the City of ^ventura would provide buses inside the two mile distance (south of Porta Vita on Country Club Drive), if the parents would pay for such a service. In an effort to decrease the number of vehicles traveling to the school, a survey was sent home with all students regarding interest in additional bus service. The annual cost per student would be $540.00 or $3.00/day. Prepayment would be required in order to fund the bus. The survey results will not be known until September 26, 2003. Food Services Food services are contracted by Charter Schools USA with Starr School Caterers, Inc. Beginning September 15, 2003, parents will have the opportunity to select lunch menus and pay on-line via the internet. Payments for food services are now collected by the vendor. Therefore, the collection and payment for food services will not run through the School's budget and this amount will be reduced from the budget via an upcoming budget amendment. Approximately, 80% of the students buy their lunch. Before and After School Care Approximately, 11 students are enrolled in before school care and 122 in after school care. These amounts are less than what was anticipated in the budget and the amount for both revenues and expenditures will be reduced from the budget via an upcoming budget amendment. The following programs are offered at ACES: Before School Care - 7:30 a.m. -8:30 a.m. After School Care - 2:00 p.m. - 6:00 p.m. (Snack Included) School Advisory Board The Charter School Advisory Board will provide input to the City Manager and School Principal regarding the following issues: · Long range strategic plans · Budget reviewand recommendation · Fundraising efforts · Review and recommend performance standards to measure school's Success · Review of school's polices to ensure consistency with school's mission · Provide recommendation on school policy issues. The board will consist of five members, each of whom will be parents of the school's children, elected by the parents of school children. The representatives will be as follows: Kindergarten to Second grade - 2 representatives Third grade to fifth grade - 2 representatives At large Kindergarten to fifth grade - 1 representative September 12, 2003 ballots were sent home with students. Ballots are due back on September 19, 2003. The resume of those individuals who have placed their name in nomination were posted on the school's website Resumes packages were also available from the school's front desk. Sample Ballot Kindergarten - Grade 2 (vote for two) John Cordova Valerie Lustgarten Stephanie Oshinsky Rica Tickner Grade 3 - grade 5 (vote for two) Gary Pyott Eileen Rae Winkler-Youtie Luz Urbaez Weinberg At Large (vote for one) Maria Cordova Randee Kessler Julie Greenberg Shapiro Parental Involvement The school has over 20 active volunteers that assist in school operations. In addition, parents are required to volunteer 20 hours per family for the school year. An Aventura Mentor program participant is also volunteering at the school. Student Drop Off and Pickup The student drop off time is approximately 25 minutes. The K to 1 pick-up time is approximately 15 minutes and the 2-5 grade pick-up time is approximately 20 minutes. Modifications to traffic plans and patterns were made during the first two weeks of school which resulted in the above times. Financial Management The audit for the 2002/2003 fiscal year has been completed. The fund balance of $145,000 was the result of the distribution of unanticipated grant funds and unspent appropriations during the fiscal year. CSUSA, city manager and principal meet monthly to review expenditures and chart budget activity. A budget amendment will be presented to the Board that will address the following items: · Increase in Capital Outlay revenue funds · Food Services · After and Before School Care · Revised CarryOver figure · Redistribution of book costs · Establishment of reserve account CSUSA is responsible for payroll and financial reporting and the City has been issuing most of the accounts payable checks. A combined budgetary report is in the process of being prepared. Student Assessment Over the course of the next four to five weeks ACES will be administering a number of assessments. These assessments will provide teachers and students with information related to individual student ability and achievement. Below you will find a brief description of each of the tests that will be administered. SRUSS: School Readiness Uniform Screening System: Early Screening Inventory- Revised & Work Sample Administered: September 17th -- October 8th This test is administered to all kindergarten students by their classroom teacher. SRUSS is a state assessment program that was put in place as of the 2002-2003 school year, to assess the readiness for school of entering kindergarten students at the beginning of the school year. Kindergarten parents will receive a detailed description of the test prior to testing. SRh Scholastic Reading Inventory Administered: September 22nd 3 This test is administered to all students' grades 2 through 5 who were not tested by Miami-Dade County Public Schools last fall. The SRI is a test that measures a student's ability to understand reading passages, to draw conclusions and to establish logical connections among sentences in a passage. This test is administered to all students' grades 1-5 in May. CTBS: Comprehensive Test of Basic Skills Administered: Reading September 24th and Math September 25th All students in grades 2 through 5 will take this assessment in the fall as a pre-test and then in the Spring as a post test. The results of this assessment are used to analyze individual student progress based on national norms. A child's profile will be measured in percentiles which will be explained to parents when the results are returned to the school. Performance Series Administered 2-3 times per year to students in grades 3 through 5. 1st administration will begin September 15th and will be completed by the last week in October. Performance Series is an on-line standards adaptive measurement that assesses student performance in reading and mathematics as well as providing individual learning style profiles. This assessment is unique in that it allows for a student to show a 10 year range of skills. The assessment questions, built on Bloom's Taxonomy and imbedded in the test, also measures a student's ability to problem solve and think critically. Teachers use the reported results to meet the individual needs of the students. Facility The school construction was completed on time and within budget by Charter Schoolhouse Developers. Additional measures were provided in the school's Lobby and on the exterior doors to improve security. Each classroom has 4 computers and a TV with DVD and VHS playback. Fund Raising The Fresh Market will host a Gala to benefit the School on Tuesday, October 14th, 7:30 p.m. Seventeen (17) members of the Aventura Marketing Council have donated $560 each to offset the cost of the TVs provided in each classroom. The owners of Uptown Marina Lofts have made a donation in the amount of $2,500 to offset the cost of musical instruments. Formal recognition of the individuals making donations to the school will be made at an upcoming Commission Meeting. Parent Survey The Management Agreement between the City and CSUSA requires that a Parent Survey substantially similar to that attached as Exhibit "A" shall be conducted in the spring. 4 Exhibits Dear Parents and Guardians, The School is required to provide bus transportation for those students who live over (two) 2 miles walking distance to the school and reside in the City. At this time, two buses serve the area over two (2) miles. The School has been approached by several parents inquiring whether the City of Aventura would provide buses inside the two mile distance (south of Porta Vita on Country Club Drive), if the parents would pay for such a service. In an effort to decrease the number of vehicles traveling to the school, this survey is being sent home with all students regarding interest in additional bus service. The annual cost per student would be $540.00 or $3.00/day. Prepayment would be required in order to fund the bus. If you live within the two (2) miles walking distance to the school and are interested in the additional yellow school bus transportation for your child please fill out the following survey: Student's Name Phone No: Address: Grade: I am interested and understand that the additional bus transportation service is voluntary and prepayment would be required. Parent or Guardian Date Please return to your child's teacher. If sufficient numbers respond to the survey to justify additional bus service we will notify you. Eric M. Soroka City Manager Dr. Katherine Murphy Principal 6 Important School Advisory Board Ballot Information The Char~er School Advisory Board will provide input to the City Manager and School Principal regarding the following issues: · Long range strategic plans · Budget reviewand recommendation · Fundraising efforts · Review and recommend performance standards to measure school's Success · Review of school's polices to ensure consistency with school's mission · Provide recommendation on school policy issues. Board Members: The board will consist of five members, each of whom will be parents of the school's children, elected by the parents of school children. The representatives will be as follows: Kindergarten to Second grade - 2 representatives Third grade to fifth grade - 2 representatives At large Kindergarten to fifth grade - 1 representative Election: September 12, 2003 ballots will be sent home with students. The resume of those individuals who have placed their name in nomination are posted on the school's website - www.aventuracharter.or.q. Resumes packages can also be obtained from the school's front desk. Ballots Due: The attached ballot must be returned to your child's classroom teacher by September 19, 2003 Ballot Kindergarten - Grade 2 (vote for two) At Large (vote for one) John Cordova Valerie Lustgarten Stephanie Oshinsky Rica Tickner Maria Cordova Randee Kessler Julie Greenberg Shapiro Grade 3 - grade 5 (vote for two) Gary Pyott Eileen Rae Winkler-Youtie Luz Urbaez Weinberg City of Aventura Char[er Elementary School Before and After School Care Program 2003~04 The following programs are offered at ACES: Before School Care - 7:30 a.m. -8:30 a.m. After School Care - 2:00 p.m. - 6:00 p.m. (Snack Included) BEFORE SCHOOL CARE Please be aware that students who will be attending the Before School Care program are to be dropped off at the front door of the school and proceed to the front lobby by 7:30 a.m. No Before School Care program students will be permitted to enter the building prior to 7:30 a.m. AFTER SCHOOL CARE 1. Beginning at 3:30 p.m. students may be picked up from the After School Program. 2. Students must be signed out on the dismissal sheet at the front desk by the parent or/and another authorized person. All parents or authorized person picking up a student should carry a photo ID at all times. 3. Students will not be dismissed to your vehicle. 4. All students must be picked up by 6:00 p.m. - no later There is a late fee for children that are not picked up on time. The late pick-up fee is $10 for every 15 minutes past closing time of 6:00 p.m. Payment is due date of incident. Please be advised that our After Care program is a service provided for our parents who need their children to remain in school until 6:00 p.m. Therefore, if you anticipate any conflict with our schedule, you should consider other means of care for your child. PAYMENT PROCEDURE Before/After Care is paid on a monthly basis. Payments are due the week before the new month begins. If payments are not paid by the week before the new month begins, a late fee of $5.00 per day will apply. Absenteeism does not change fees. CHECK: · Please write your child's name on the bottom of the check. · Make check payable to City of Aventura. · You may write one check if you have more than one child in the program. NSF CHECKS: · If a check is returned for Non-Sufficient Funds, we should receive payment within 2 days. Payment must be made in cash or by money order for the amount on the NSF check plus an additional $30.00 (bank charge). · If we receive more than one NSF check, you will be required to pay all future payment in cash or by money order. WITHDRAWALS: If your child has been enrolled in the program and you wish to withdraw him/her, please notify the office. Notice must be given a week prior to withdrawal in order to receive a prorated refund. 8 PAYMENT SCHEDULE * BEFORE SCHOOL CARE: 7:30A. M. - 8:30A. M. Payment due date: Monday, Aug. 27 Monday, Sept. 23 Monday, Oct. 29 Monday, Nov. 25 Monday, Dec. 16 Monday, Jan. 27 Monday, Feb. 24 Monday, Mar. 23 Monday, Apr. 27 Monday, May 25 Service period: Days of service: Fee: Aug. 25 - Sept. 30 26 $78.00 Oct. 1 - Oct. 30 20 $60.00 Now 3 - Nov. 26 17 $51.00 Dec. 1 - Dec. 19 15 $45.00 Jan. 5 - Jan. 30 18 $54.00 Feb. 2 - Feb, 27 19 $57.00 Mar. 1 - Mar. 25 19 $57.00 Apr. 5 - Apr. 30 19 $57,00 May 3 - May 28 20 $60.00 Jun, 1 - Jun. 9 7 $21.00 Total for 2003-2004 School Year 180 $540.00 * A $10.00 registration fee must be included with your first payment AFTER SCHOOL CARE: 2:00 - 6:00 p.m. (Snack included) Payment due date: Monday, Aug. 27 Monday, Sept. 23 Monday, Oct. 29 Monday, Nov. 25 Monday, Dec. 16 Monday, Jan. 27 Monday, Feb. 24 Monday, Mar. 23 Monday, Apr. 27 Monday, May 25 Service period: Days of service: Fee: Aug. 25 - Sept. 30 26 $234.00 Oct. 1 - Oct. 30 20 $180.00 Nov. 3 - Nov. 26 17 $153.00 Dec. 1 - Dec. 19 15 $135,00 Jan. 5 - Jan. 30 18 $162,00 Feb. 2 - Feb. 27 19 $171.00 Mar. 1 - Mar. 25 19 $171.00 Apr. 5 -Apr. 30 19 $171.00 May 3 - May 28 20 $180.00 Jun, 1 - Jun. 9 7 $63.00 Total for 2003-2004 School Year 180 $1620.00 * A $10.00 registration fee must be included with your first payment PLEASE TRY YOUR BEST TO MAKE PAYMENTS BY THE DUE DATE, THANKS EXHIBIT A AVENTURA CHARTER ELEMENTARY SCHOOL Parent Survey Directions: Please CIRCLE ONE of these after each statement. Strongly Agree Agree Disagree Strongly Disagree 1, The school buildings and grounds am clean and well maintained. Strongly Agree Agree Disagree Strongly Disagree Comments 2. Student responsibility Is reinforced by the school and staff. Strongly Agree Agree Disagree Strongly Disagree Comments 3. An atmosphere of respect and trust exists between students and school personnel. Strongly Agree Agree Disagree Strongly Disagree Comments 4. Social and cultural differences among students are respected. Strongly Agree Agree Disagree Strongly Disagree Comments 5. Teachers have a positive attitude toward ACES and students. Strongly Agree Agree Disagree Strongly Disagree Comments 6. Students are recognized for their accomplishments. Strongly Agree Agree Disagree Strongly Disagree Comments Extra assistance with schoolwork Is available to students. Strongly Agree Agree Disagree Strongly Disagree Comments 8. The teacher: student ratio is satisfactory. Strongly Agree Agree Disagree Strongly Disagree Comments 9. Parents are informed of school events and activities. Strongly Agree Agree Disagree Strongly Disagree Comments 10. Parents are encouraged to volunteer and be involved in school activities. Strongly Agree Agree Disagree Strongly Disagree Comments 11. School faculty is responsive to questions and concerns, Strongly Agree Agree Disagree Strongly Disagree Comments 12. Parents are invited to discuss concerns by telephone or conference. (OVER) 10 13. 14. 15. 16. 17, 18. 19, 20. 21. 22. 23. 24. Strongly Agree Agree Disagree Strongly Disagree Comments Classrooms are properly equipped to support learning. Strongly Agree Agree Disagree Strongly Disagree Comments Teachers make learning interesting and relevant. Strongly Agree Agree Disagree Strongly Disagree Comments Teachers are knowledgeable and understand tbelr subject matter. Strongly Agree Agree Disagree Strongly Disagree Comments Students have adjusted socially to the school's environment. Strongly Agree Agree Disagree Strongly Disagree Comments Teachers assign meaningful homework that helps students learn, Strongly Agree Agree Disagree Strongly Disagree Comments School Administrators are responsive to questions and concerns. Strongly Agree Agree Disagree Strongly Disagree Comments School support staff (Clerical) is responsive to questions and concerns, Strongly Agree Agree Disagree Strongly Disagree Comments Students feel safe at ACES, Strongly Agree Agree Disagree Comments Strongly Disagree Students have been informed of expected behavior In school activities. Strongly Agree Agree Disagree Strongly Disagree Comments Students are disciplined in accordance with the Student Code of Conduct in the Parent Handbook. Strongly Agree Agree Disagree Strongly Disagree Comments Parents and students have been thoroughly informed of school discipline practices. Strongly Agree Agree Disagree Strongly Disagree Comments ACES is effectively teaching students basic academic skills in reading Strongly Agree Agree Disagree Strongly Disagree Comments 25. ACES Is effectively teaching students basic academic skills in mathematics Strongly Agree Agree Disagree Strongly Disagree Comments 26. ACES la effectively teaching students to speak and write correctly in English Strongly Agree Agree Disagree Strongly Disagree ]! Comments 27. ACES Is effectively teaching students to use computers Strongly Agree Agree Disagree Strongly Disagree Comments 28. ACES is effectively teaching students to investigate problems in science Strongly Agree Agree Disagree Strongly Disagree Comments 29. Students have tasty, nutritious lunch options daily, Strongly Agree Agree Disagree Strongly Disagree Comments 30. My child Is happy at the Charter School. Strongly Agree Agree Disagree Strongly Disagree Comments 31. I would recommend the Charter School to a friend. Strongly Agree Agree Disagree Strongly Disagree Comments 32. I belong to the Parent Teacher Organization (PTO) YES NO 33. I intend to re-enroll my child for the 2004-2005 academic year. YES NO 34. If response to 33 is no, please give reason(s). Please fill In the blanks: Name (optional) My child is in the AddltlonalComments grade. I reside in city. Charter Schools USA appreciates your feedback and cooperation. Thank you! 12 CiTY OF AVENTURA OFFICE OF THE CITY MANAGER TO: FROM: DATE: SUBJECT': MEMORANDUM City Commission (ACES Board of D_~ :ors) Ordinance Amending 2003/04 Charter School Budget Ist Reading September 18, 2003 City Commission Meeting Agenda Item 2nd Reading October 7, 2003 City Commission Meeting Agenda Item __ RECOMMENDATION It is recommended that the City Commission, acting as the ACES Board of Directors, approve the attached Ordinance amending the 2003/04 FY Charter School Budget. BACKGROUND The subject budget was approved by the Board in June 2003. With the opening of the school, review of operational needs, and realization of additional revenue for capital outlay, the budget should be amended to reflect current information and the needs of the school. The budget amendment also provides for the establishment of a $78,982 contingency fund. REVENUES The following revisions to the revenue estimates are recommended. State Shared Revenues Florida Education Finance Program - Reduce by $27,448 to reflect final amounts adopted by State Legislature. Grants - Reduce by $71,819 which is the amount received and spent in the 2002/03 fiscal year. 3. Transportation - Reduce by $1,962 to reflect actual number of children (120) ~ utilizing bus service. Memo to City Commission Page 2 4. Capital Outlay - Increase by $195,087 to reflect final amounts adopted by State Legislature (from $76.23 / student to $401.37 / student). Charqes for Service 1. Food Service Fees - Reduce by $152,080 to reflect new arrangement with food service vendor whereby they are responsible for billing and collecting fees. 2. After School Programs - Reduce by $80,892 to reflect actual number of students utilizing this service (125 students). Original figure assumed 180 students. 3. Miscellaneous Revenues - Increase by $10,000 to reflect fund raising activities. 4. Other Non-Revenues - Increase by $143,494 to reflect actual carryover amount from 2002/03 FY. Expenditures K-3 1. Textbooks - Reduce by $9,500 to reflect actual costs. 4-._.~8 1. Teacher Salaries & Benefit - Increase by $4,857 to reflect actual teacher salaries. 2. Textbooks - Increase by $43,750 to reflect actual and anticipated costs of which $28,000 was originally scheduled to be charged against 2002/03 FY. Exceptional Student Proqram 1. Teacher Salaries and Benefits - Increase by $3,308 to reflect actual teacher salaries. 2. Training - Increase by $2,260 to reflect new estimate. 3. Textbooks - Increase by $2,750 to reflect actual costs. Memo to City Commission Page 3 Substitute Teachers 1. Teacher Salaries and Benefits - Increase by $29,996 to reflect cost of additional fulltime substitute teacher required to operate school. School Administration 1. Salaries - Increase by $17,000 to reflect actual salaries of Vice Principal and Business Manager. 2. Employment Ad - Increase by $5,000 to reflect advertising costs associated with hiring staff and teachers. by $10,000 to reflect school 3. Other Materials and Supplies - Increase operating costs. Operation of Plant 1. Salaries - Increase by $15,277 to reflect cost of Cafeteria Manager position required to operate school. 2. Contract - Food Services - Decrease by $147,569 to reflect new arrangement with food vendor. 3. Contract - Building Maintenance - Increase by $12,800 to reflect school opening costs and maintenance requirements. 4. Repairs and Maintenance - Increase by $7,120 to reflect estimated costs of modifications to improve student pick-up and drop-off operations. 5. Contingency - Establish $78,982 as a contingency account. Child Care Supervision 1. Salaries - Revise job titles and reduce staff by five part-time employees to reflect actual number of students utilizing before and after school care. 2. Contract - Food Services - Reduce by $30,855. Original budget anticipated After School Program utilizing food services for snacks. The school pumhases the snacks directly from the vendor. Memo to City Commission Page 4 3. Other Materials and Supplies - Increase by $10,800 to reflect actual cost of snacks for after school programs. Capital Outlay 1. Computer Software - Increase by $5,000 to reflect actual needs of the school to pumhase educational software. EMS/aca Attachment CC01240-03 ORDINANCE NO. 2003-m AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2003-06, WHICH ORDINANCE ADOPTED A CHARTER SCHOOL OPERATING AND CAPITAL BUDGET FOR THE AVENTURA CHARTER ELEMENTARY SCHOOL FOR FISCAL YEAR 2003~04 (JULY 1 - JUNE 30) BY REVISING THE 200312004 FISCAL YEAR BUDGET DOCUMENT AS OUTLINED IN EXHIBIT "A" ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; PROVIDING DATE. FOR AN EFFECTIVE WHEREAS, upon the periodic review and analysis of current budgetary commitments and obligations, and based upon the projected needs and requirements of the Aventura Charter Elementary School and upon the recommendations of the City Manager (and the concurrence of the Finance Support Services Director as to Accounting Principles), it is deemed necessary to adjust, amend and implement the 2003/2004 Operating and Capital Budget of the Aventura Charter Elementary School as set forth in Exhibit "A" attached hereto and made a part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. The recitals contained in the preamble to this Ordinance are incorporated by reference herein. Section2. The City Commission hereby authorizes the amendment of Ordinance No. 2003-06, which Ordinance adopted a budget for the 2003/2004 fiscal year for the Aventura Charter Elementary School by revising the 2003/2004 budget as who moved Commissioner as follows: Ordinance No. 2003-07 Page 2 set forth on the attached Exhibit "A", which exhibit is deemed incorporated by reference as though set forth in full herein. Section 4. The City Manager is hereby authorized to do all things necessary to carry out the aims of this Ordinance. Section 5. Effective Date. This Ordinance shall be effective immediately upon adoption on second reading. The foregoing Ordinance was offered by Commissioner ., who moved its adoption on first reading. This motion was seconded by Commissioner ., and upon being put to a vote, the vote was as follows: Commissioner Zev Auerbach Commissioner Jay R. Beskin Commissioner Ken Cohen Commissioner Bob Diamond Commissioner Harry Holzberg Vice Mayor Manny Grossman Mayor Jeffrey M. Periow The foregoing Ordinance was offered by Commissioner ., its adoption on second reading. This motion was seconded by and upon being put to a vote, the vote was Commissioner Commissioner Commissioner Commissioner Commissioner Commissioner Zev Auerbach Jay R. Beskin Ken Cohen Bob Diamond Harry Hoizberg Grossman Mayor Jeffrey M. Perlow 2 Ordinance No. 2003-07 Page 3 PASSED AND ADOPTED on first reading this 18th day of September, 2003. PASSED AND ADOPTED on second reading this 7th day of October, 2003. ATTEST: JEFFREY M. PERLOW, MAYOR TERESA M. SOROKA, CMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY F=XHIBIT A Budget Amendments CHARTER SCHOOL FUND 190 335910 331600 335980 335991 State Shared Revenues: Flodda Education Finance Progr; 3,070,728 Grants 150000 Transportation 41,202 Capital Outlay 45~735 SUBTOTAL (27,448) 3,043,280 (71,819) 78,181 (1,962) 39,240 195~087 240;822 3,307,665 93,858 3,401,523 347905 Charges for Services: Food Service Fees After School Programs SUBTOTAL Misc, Revenues: Misc. Revenues: SUBTOTAL 3999000 Other Non-Revenues Beginning Surplus SUBTOTAL Total Revenues Total Amendments-Revenues Expenditures 5411 Textbooks SUBTOTAL 157,080 (152,080) 5,000 281,232 (80~892) 200,340 438,312 (232,972) 205,340 10~000 10~000 10,000 10,000 1~000 143,494 144,494 1,000 143,494 144,494 3,746,977 14,380 3,761,357 K-3 Basic 5101 119,500 (9,500) 119,500 (9,500) 110~000 110,000 4-8 Basic 5102 1220 Teacher 385,960 4,418 390,378 2101 Social Security- matching 32,658 338 32,996 2201 Pension 2,924 34 2,958 2302 Life Insurance 1,170 13 1,183 2401 Workers compensation 4,757 54 4,811 5411 Textbooks 72~250 43~750 116~000 s UBTOTAL 499,719 48,607 548,326 Exceptional Student Program 5250 142,446 3,009 12,121 230 1220 Teacher 2101 SodalSecudymatching 145,455 12,351 EXHIBIT A 2201 Pension 1,079 23 1,102 2302 Life Insurance 432 9 441 2401 Workers compensation 1,755 37 1,792 4001 Travel/Conferences/Training 2,240 2,260 4,500 5411 Textbooks 3~250 2~750 6~000 SUBTOTAL 163,323 8,318 171,641 Substitute Teachers 5901 1220 Teacher 25,000 25,000 50,000 2101 Social Security- matching 2,185 2,185 4,370 2201 Pension 190 190 380 2301 Health 1,874 1,875 3,749 2302 Life Insurance 76 76 152 2401 Workers compensation 309 310 619 1505 Sick Day Buyout 360 360 720 SUBTOTAL 29,994 29,996 59,990 1250 Vice Principal 1230 Business Manager 4901 Legal/Employment Ads 5290 Other Mat'l & Supply SUBTOTAL School Administration 7300 45,000 11,000 56,000 31,500 6,000 37,500 2,500 5,000 7,500 25,000 10,000 35,000 104,000 32,000 136,000 Operation of Plant 7900 1230 Cafeteria Manager 15,277 3431 Contract-Food Services 147,569 (147,569) 4620 Contract- Building maintenance 61,200 12,800 4635 Repairs & Maintenance 7,880 7,120 Contingency 78,940 SUBTOTAL 216,649 (33,432) Child Care Supervision 9102 15,277 74,000 15,000 78,940 183,217 1503 Site Director-Stdpend 10,000 (8,000) 2,000 1230 Site Coordinator 3,500 14,140 17,640 After School Counselor I 21,600 21,600 After School Counselor II 28,800 28,800 1220 P/T Teacher 16,380 (8,280) 8,100 1240 PIT Teacher Assistant 91,728 (91,728) PIT School Aides 14,400 14,400 1250 Teacher Assistant 11 13,104 (13,104) 0 2101 Social Security-matching 14,228 (3,910) 10,318 2401 Workers Compensation 1,601 (472) 1,129 3431 Contract-Food Services 30,855 (30,855) 5290 Other Mat'l & Supply 5,000 10,800 15,800 SUBTOTAL 186,396 (66,609) 119,787 EXHIBIT A 6401 Computer Softwam >750 SUBTOTAL Capital Outlay 7400 2~500 2,500 5r000 7t500 5,000 7,500 TOTAL Total Amendments.~x~nditum~ Function Job Class 2003/04 Adopted Full Time Part Time 2003/04 Amended Full Time Part Time 5101 Teacher 5102 Teacher 5250 Teacher 5901 Substitute Teacher 6200 Media Specialist 7300 Principal Assistant Principal Business Manager Administrative Assistant Receptionist RegistarlCompliance P/T' Computer Natwork/Tech 79OO 9102 Cafeteria Manager P~I' Teacher Site Coordinator Teacher Assiant II P/T After School Counselor I P/T After School Counselor II P/T Teacher Assistant P/T School Aides Total 20.00 l 1.00 4.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 2.00 14.00 20.00 1 l.O0 4.00 2.00 l.O0 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 4.00 4.00 2.00 44.00 17.00 46.00 12.00 Aventura Charter Elementary School Song Aventura Aces, full of smiling faces, here's where we belong, minds and bodies growing strong, learning how to truly be the peacefuls stars that we are, at Aventura Charter, helping us grow smarter, learning every day, how to work and how to play, with helping hands and open hearts we are learning how to share, at Aventura Aces. The Aces, the Aces, that's US! Music and lyrics by © 9/10/2003 Cynthia Zaitz 76 ATTENTION!!! Parents, Friends & Neighbors of Aventura Charter Elementary School: The Fresh Market presents a Wine Tasting Gala & Hors D'oeuvres Reception benefiting Aventura Charter Elementary School. Come indulge yourself with fabulous food, sample fine wines from around the world & enjoy great wine discounts just in time for the holidays. The Fresh Market ~ala Tuesday, October 14, 2003 7:30 to 9:30 p.m. Musical entertainment by Joanie Edwards' Little Theater of Performing Arts $25.00 pp in advance · $30.00 at the door Make checks payable to: City of Aventura 100% of the proceeds benefit our school Write purchaser's name on back of ticket stub before returning stub to A.C.E.$. The Fresh Market's succulent menu will include 10 wine stations (4-5 wines per station), Bacon Wrapped Chicken Tenders, Smoked Salmon Pinwheels, Brie on French Rounds, Sushi, Crab Artichoke Dip, Godiva Chocolate, Mozzarella and Roma Tomatoes with Basil, Hereford Boneless Prime Rib on Crusty Bread, and Shrimp Cocktail. This is a marvelous opportunity for us to mingle and network with other school parents and our Aventura neighbors. Come! Bring friends and family! Let's make it an unforgettably tasty night! when we all ea't, our school wins!!! ~ [or more information and tickets, contact: Bettina Hollo Luz Urbfiez-Weinberg 305.992.6361 305.682.0240 luzweinber~!~:!aol.co m Stubs & checks returnable to A.C.E.S by Friday, October 11, 2003