Proposed Operating Budget Highlights for Cape Coral Charter School Authority FY 2021-2023

The proposed operating budget for Cape Coral Charter School Authority for fiscal years 2021-2023 includes a three-year rolling budget to facilitate better planning and assist in future financial decisions. The enrollment projections and revenue budget reflect changes and considerations to meet the needs of the schools under the authority.

• Budget
• Operating
• Highlights
• School Authority
• Fiscal Year

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1. CAPE CORAL CHARTER SCHOOL AUTHORITY FY 2021-2023 PROPOSED OPERATING BUDGET JUNE 9, 2020

2. FY 2021-2023 BUDGET HIGHLIGHTS o Three year rolling budget Consistent with City Better planning Assists in making future financial decisions o Held two Budget Workshops and multiple staff meetings o Governing Board will be asked to approve FY 2021 Proposed Operating Budget

3. FY 2021-2023 PROPOSED ENROLLMENT FY 2016 Actual 743.65 850.02 830.89 746.61 3,171.17 FY 2017 Actual 748.51 855.17 831.06 718.62 3,153.36 FY 2018 at Close 740.00 840.00 806.00 690.00 3,076.00 FY 2019 at Close 745.57 857.23 835.76 698.57 3,137.13 FY 2020 Adopted 766.00 880.00 840.00 715.00 3,201.00 FY 2021 Proposed 766.00 871.00 840.00 685.00 3,162.00 FY 2022 Proposed 766.00 871.00 840.00 700.00 3,177.00 FY 2023 Proposed 766.00 871.00 840.00 715.00 3,192.00 School Oasis Elementary North (CME) Oasis Elementary South (OES) Oasis Middle School Oasis High School Total: Note: Enrollment reflected an increase in FY 2020 at both Elementary Schools due to VPK closures. FY 2016-FY2023 Enrollment 1,000.00 800.00 600.00 400.00 200.00 - FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 Oasis Elementary North (CME) Oasis Elementary South (OES) Oasis Middle School Oasis High School

4. FY 2021-2023 PROPOSED REVENUE BUDGET Revenues % Change FY 2020 Adopted % Change FY 2020 Amended FY 2019 Actual $ $ FY 2020 Adopted (1,697,980) $ (229,499) (1,636,245) (6,811,449) (10,375,173) $ FY 2020 Amended (1,697,980) $ (170,924) (1,973,447) (6,341,122) (10,183,473) $ FY 2021 Proposed (1,697,980) $ (1,748,787) (5,493,909) (8,940,676) $ FY 2022 Proposed (1,697,980) $ (1,662,231) (4,331,681) (7,691,892) $ FY 2023 Proposed (1,697,980) $ (1,689,419) (3,142,261) (6,529,660) $ Revenues by Category - Sources Restricted Committed Assigned Unassigned Total Balance Forward: - - - - - 0.00% 0.00% - -100.00% 6.88% -19.34% -13.83% -100.00% -11.38% -13.36% -12.20% - - Intergovernmental PECO Fixed Capital Charges for Service Miscellaneous Debt Proceeds (Capt'l Lease) Transfers In Total Revenues: (23,463,905) $ (1,527,869) (756,774) (427,548) (101,694) (250,750) (26,528,540) $ (22,902,035) $ (1,527,869) (778,535) (292,001) (128,410) (25,628,850) $ (22,961,519) $ (1,541,438) (810,535) (380,070) (50,000) (25,743,562) $ (22,442,792) $ (1,559,741) (858,500) (381,297) (52,000) (25,294,330) $ -2.01% 2.09% 10.27% 30.58% 0.00% -59.50% -1.31% -2.26% 1.19% 5.92% 0.32% 0.00% 4.00% -1.75% (22,848,023) $ (1,559,741) (871,645) (365,762) (55,000) (25,700,171) $ (23,256,233) $ (1,559,741) (884,975) (446,877) (58,000) (26,205,826) $ - - - - - Total Sources: (26,528,540) $ (36,004,023) $ (35,927,035) $ (34,235,006) $ -4.91% -4.71% (33,392,063) $ (32,735,486) $

5. FY 2021-2023 PROPOSED REVENUE BUDGET Major revenues are budgeted at 95% per policy Florida Education Finance Program (FEFP) reflects an increase of $100 per full time equivalent (FTE) Safe School component will be used to cover School Resource Officers (SRO s) Discretionary Capital $1.7m remains in Restricted Fund Balance Public Education Capital Outlay to increase by $11 mil across all Charter Schools; will adjust as funding is announced No School Recognition or Best & Brightest Funding

6. FY 2021-2023 PROPOSED OPERATING BUDGET Expenditures % Change FY 2020 Adopted % Change FY 2020 Amended FY 2019 Actual $ $ FY 2020 Adopted 1,697,980 $ 229,499 7,053,763 8,981,242 $ FY 2020 Amended 1,697,980 $ 170,924 6,771,097 8,640,001 $ FY 2021 Proposed 1,697,980 $ 5,493,909 7,191,889 $ FY 2022 Proposed 1,697,980 $ 4,331,681 6,029,661 $ FY 2023 Proposed 1,697,980 $ 3,142,261 4,840,241 $ Expenditures by Category - Uses Restricted Committed Unassigned Total Reserves: - - - - 0.00% 0.00% - -100.00% -22.11% -19.92% -100.00% -18.86% -16.76% - - Personnel Operating Capital Debt Service Transfer Out to Agency Total Expenditures: 16,647,523 $ 7,984,860 1,534,108 316,951 26,483,979 $ 17,973,862 $ 8,214,336 485,724 348,859 27,022,781 $ 18,118,812 $ 8,333,829 490,925 343,468 27,287,034 $ 18,222,802 $ 8,400,630 329,304 90,381 27,043,117 $ 1.39% 2.27% -32.20% -74.09% 0.00% 0.08% 0.57% 0.80% -32.92% -73.69% 0.00% -0.89% 18,646,462 $ 8,235,035 440,692 40,213 19,178,897 $ 8,130,455 562,392 23,501 537 - - - 27,362,402 $ 27,895,245 $ Total Uses: 26,483,979 $ 36,004,023 $ 35,927,035 $ 34,235,006 $ -4.91% -4.71% 33,392,063 $ 32,735,486 $

7. FY 2021 PROPOSED STAFFING SUMMARY FY 2017 Adopted FY 2018 Adopted FY 2019 Adopted FY 2020 Adopted FY 2021 Proposed +/- School Oasis Elementary North (CME) Oasis Elementary South (OES) Oasis Middle School Oasis High School Administration Sub-Total: Change 2.25 (0.25) 3.25 1.25 (1.00) 5.50 67.00 77.50 61.00 52.50 23.00 281.00 65.00 70.50 60.50 55.50 25.00 276.50 64.50 71.50 63.00 57.50 27.00 283.50 64.50 71.00 62.75 56.25 33.00 287.50 66.75 70.75 66.00 57.50 32.00 293.00 Substitutes 104.00 98.00 76.00 70.00 65.00 (5.00) Grand Total: 385.00 374.50 359.50 357.50 358.00 0.50 Oasis Elementary North Oasis Elementary South Oasis Middle School Oasis High School Administration 1 Office Assistant; 1 Teacher; .25 Floating Teacher 1 Teacher; Less 1.5 Paraprofessionals; .25 Floating Teacher 3 Teachers; .25 Floating Teacher 1 Paraprofessional; .25 Floating Teacher Transportation Director split into 2 Supv., Less Payroll Supv; Less Social Worker Note: Only critical positions will be filled - Office Assistant, Para, and one Transportation Supervisor on hold. Two new bus drivers converted to 40-hours of substitute hours.

8. FY 2021-2023 PROPOSED PERSONNEL OVERVIEW Payroll accounts for $18.2 million or 67.38% of the FY 2021 Proposed Operating Budget Includes Base Pay, Add Pays, Substitute Pay, FICA, Medicare, Workers Comp, Florida Retirement System (FRS), and Overheads (health, disability insurance, etc.) Includes a 3% increase across all staff; awaiting announcement of Teacher Salary Allocation before final determination is made on how the 3% Teacher portion will be disbursed FRS is budgeted at 8.47% (will be announced in July) Health care premiums reflect a 5% increase Slight reduction to Workers Compensation Rates

9. FY 2021-2023 PROPOSED OPERATING EXPENDITURES Accounts for $8.4 million or 31.06% of the FY 2021 Proposed Operating Budget Rollover purchase orders from FY20 as previously approved but work remains in process: Spiro Marketing $7,637 Florida Painters 2 Elementary Schools $95,670 Premier Bureau Speaker (Title II) $6,750 Technology refresh now budgeted at $288k annually as part of Best Practice s recommendation Textbook Adoption year Avalon back field site work Painting of OMS and OHS Medical PPE items due to Covid-19

10. FY 2021-2023 PROPOSED CAPITAL EXPENDITURES Currently budgeted at $329,304 or 1.22% of the FY 2021 Proposed Operating Budget P.O. s previously approved but work not completed: Sun State (2 Buses) $218,492 Playmore playground flooring at both elementary schools $47,812 Other Scoreboards (2) at OHS gymnasium $13,000 Caf tables at OMS $50,000

11. FY 2021-2023 PROPOSED DEBT SERVICE o Currently budgeted at $90,381 or .33% of the FY 2021 Proposed Operating Budget o Debt Service on remaining 4 buses to be paid mid FY 2022 o Copier Lease has 3 years remaining

12. FY 2021-2023 PROPOSED FUND BALANCE/RESERVES The Charter School Authority shall maintain, at a minimum, an unassigned fund balance in its operating fund equal to 5% of the annual expenditures. Fund Balance at 5/27/20 Reserve Requirement: FL Class SBA United Total Fund Balance: $ $ 3,440,524 4,708,532 522,168 8,671,224 Total 5% of Year Expenditures 27,043,117 $ 27,362,402 $ 27,895,245 $ Expenditures 1,352,155.85 $ 1,368,120.10 $ 1,394,762.25 $ FY 2021 FY 2022 FY 2023 Est. Year-End Add Back: 269,452 Total Fund Balance: $ 8,940,676 Unassigned Fund Balance: Assigned Fund Balance: Less Reserve Requirement: Remaining Fund Balance: 5,493,909 $ 1,748,787 (1,352,156) 5,890,540 $ Less Restricted Fund Balance: (1,697,980) Unassigned Fund Balance: $ 7,242,696 Does not include the $1.7 mil of Restricted

13. CONCLUSION Overall, the FY 2021 Proposed Operating Budget reflects a decrease of -4.91% over the FY 2020 Adopted Operating Budget or -4.71% over the FY 2020 Amended. Key factors include: Reduced revenues in AICE Program Reduced capital items Reduced debt service on initial purchase of buses Completion of safety measures Adopted Budget will be presented in August 2020 for approval and incorporated into City of Cape Coral Public Hearings for final approval in September 2020 In closing, we ask for the Governing Board s approval of the FY 2021 Proposed Operating Budget.