Insight PA Cyber Charter School Financial Analysis November 2019
Detailed financial analysis and projections for Insight PA Cyber Charter School in November 2019, focusing on enrollment figures, revenue forecasts, budget comparisons, funding sources, expenses breakdown, and cash flow projections. The report highlights a decrease in enrollment affecting revenue and expenses, leading to a projected surplus by year-end.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
E N D
Presentation Transcript
Insight PA Cyber Charter School Insight PA Cyber Charter School November 2019 Financials November 2019 Financials Prepared for December 17, 2019 Board Meeting Prepared for December 17, 2019 Board Meeting
ISPA Enrollment Projections 5+7 Enrollment Case $ Revenue Forecast Total FY20 Forecast Forecast Forecast Forecast Forecast Forecast Budget Budget Budget Budget Budget Budget Budget Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 K5 679 471 577 642 607 627 634 663 718 735 738 747 747 MS 605 472 506 576 555 578 572 596 626 643 657 646 646 HS 862 582 662 845 804 854 837 819 885 911 913 889 889 Forecasted Enrollment 29,082,008 $ 2,147 1,525 1,745 2,063 1,966 2,060 2,043 2,079 2,230 2,289 2,308 2,282 2,282 Actual Attending + EA 1,527 1,745 2,063 1,993 2,071 Actual Attending 28,665,998 $ 2,112 1,525 1,745 1,891 1,952 1,937 (416,010) $ 386 decrease in Average Daily Membership (ADM) versus Approved Budget (2,533). Currently billing for a 19.5% Special Ed population. Forecast at 19.5%.
Financial Summary Financial Summary Full Year Forecast Full Year Forecast Current Forecast % Inc/(Dec) over Prior Year Variance Current v. Budget Inc./(Dec) (174) (159) (53) (386) Variance Current v. Prior Forecast /Inc(Dec) 6 (23) 18 0 Full Year Budget 853 673 679 653 764 629 605 603 915 844 862 639 2,533 2,146 2,147 1,894 Prior Forecast Current Forecast Prior Year Actual/ADM % Variance to Budget -20.4% -20.8% % Variance to Prior K-8 Ending Enrollment MS Ending Enrollment HS Ending Enrollment Total Ending Enrollment 4.1% 0.4% 34.9% 13.3% 0.9% -3.7% 2.1% 0.0% -5.8% -15.2% FUNDING SOURCES: Total Funding 33,178,680 $ 29,937,394 $ 30,054,472 $ 25,882,239 $ 16.1% (3,124,208) $ -9.4% $ 117,077 0.4% INSTRUCTION (716,090) (1,671,093) (18,396) (2,405,580) $ (47,262) 66,570 15,109 34,417 $ Total Teachers Related Expenses Total Students Related Expenses Total Student and Family Services Total Instruction 11,000,486 $ 10,696,977 936,938 22,634,401 $ 10,331,658 $ 8,959,314 903,432 20,194,405 $ 10,284,396 $ 9,025,884 918,541 20,228,822 $ 6,749,237 $ 7,275,863 640,242 14,665,341 $ 52.4% 24.1% 43.5% 37.9% -6.5% -15.6% -2.0% -10.6% -0.5% 0.7% 1.7% 0.2% SUPPORT SERVICES Total Admin & Governance Total Technology Total Insurance/Facilities/Ops Total Support Services (536,680) (136,445) 10,661 (662,464) $ 74,249 (4,365) 10,661 80,545 $ 8,485,014 $ 1,361,327 617,729 10,464,069 $ 7,874,085 $ 1,229,246 617,729 9,721,060 $ 7,948,334 $ 1,224,882 628,390 9,801,605 $ 5,639,302 $ 1,061,898 511,548 7,212,747 $ 40.9% 15.3% 22.8% 35.9% -6.3% -10.0% 1.7% -6.3% 0.9% -0.4% 1.7% 0.8% Total School Expenditures This Period 33,098,470 $ 29,915,464 $ 30,030,427 $ 21,878,088 $ 37.3% (3,068,044) $ -9.3% $ 114,962 0.4% Increase/(Decrease) to Fund Balance $ 80,210 $ 21,930 $ 24,045 4,004,150 $ -99.4% $ (56,165) -70.0% $ 2,115 9.6% Revenue: Current Forecast $30.05M, 9.4% lower than budget due to decreased enrollment forecast Expenses: Forecast $30.03M, 9.3% lower as expenses were scaled back in direct relation to lower enrollment forecast Surplus: Projected YE: $0.02M
Cash Flow Projection Cash Flow Projection 19-Jul 19-Aug 19-Sep 19-Oct 19-Nov 19-Dec 20-Jan 20-Feb 20-Mar 20-Apr 20-May 20-Jun Average Beginning cash balance 5,373,155 $ 5,819,155 $ 4,090,080 $ 5,475,004 $ 5,380,901 $ 5,660,674 $ 5,093,267 $ 5,028,963 $ 5,075,559 $ 5,046,687 $ 5,200,556 $ 5,446,586 $ Cash Received Tuition Deposits Other Funding - Cash Advance Total Funding Received 1,454,268 1,527,492 3,261,021 2,445,393 3,456,371 2,227,159 2,269,548 2,280,116 2,383,626 2,499,922 2,543,118 2,539,479 1,454,268 $ 1,527,492 $ 3,261,021 $ 2,445,393 $ 3,456,371 $ 2,227,159 $ 2,269,548 $ 2,280,116 $ 2,383,626 $ 2,499,922 $ 2,543,118 $ 2,539,479 $ Payments - non K12 - Payroll - Psers Employer Funding - Rent - Other Payments - K12 Total Disbursements (476,019) $ (500,895) $ (544,315) $ (162,954) (28,137) (579,137) (561,552) (1,876,096) $ (558,036) $ (505,307) $ (567,316) $ (161,421) (28,521) (500,000) (1,537,307) (2,794,565) $ (584,898) $ (584,898) $ (584,898) $ (162,390) (28,521) (400,000) (1,236,688) (2,412,498) $ (584,898) $ (584,898) $ (584,898) $ (162,390) (28,521) (400,000) (1,242,886) (2,418,696) $ (27,518) (504,731) (28,137) (378,476) (2,349,059) (3,256,568) $ (28,905) (482,299) (1,470,255) (2,539,496) $ (28,329) (832,984) (1,809,979) (3,176,598) $ (28,521) (400,000) (1,320,433) (2,333,852) $ (28,521) (400,000) (1,220,100) (2,233,519) $ (28,521) (400,000) (1,332,634) (2,346,053) $ (28,521) (400,000) (1,283,669) (2,297,088) $ 0 (1,008,268) $ Ending cash balance - Current Ending cash balance - Prior Year 5,819,155 $ 2,540,284 $ 4,090,080 $ 2,324,531 $ 5,475,004 $ 2,450,372 $ 5,380,901 $ 2,627,122 $ 5,660,674 $ 4,532,091 $ 5,093,267 $ 3,070,639 $ 5,028,963 $ 4,213,541 $ 5,075,559 $ 4,852,368 $ 5,046,687 $ 5,287,707 $ 5,200,556 $ 5,690,768 $ 5,446,586 $ 6,145,466 $ 5,567,369 $ 5,373,155 $ 5,240,400 $ 4,092,337 $ Net Cash per Month - Current Net Cash per Month - Prior Year 446,000 (119,326) $ $ (1,729,075) $ (215,753) $ 1,384,924 $ 125,841 $ $ $ (94,103) 176,750 279,772 1,904,969 $ $ (567,407) $ (1,461,452) $ $ (64,305) 1,142,902 $ $ $ 46,596 638,827 $ $ (28,872) 435,339 $ $ 153,868 403,061 $ $ 246,030 454,699 120,783 (772,311) $ $ $ $ 16,184 226,129 Days Cash on Hand - Current Days Cash on Hand - Prior Year 98.4 66.8 55.5 62.3 81.1 48.1 63.8 45.3 67.8 203.5 54.5 30.4 55.1 71.5 62.7 86.0 65.8 81.3 67.7 82.0 70.2 96.5 71.7 67.0 67.9 78.4 Goal: Maintain 2-3 months of working capital at all times, $4M to $5M Days Cash on Hand = current month ending cash/total disbursements
Disbursements Disbursements November 2019 November 2019 (1 of 3) (1 of 3) Date 11/27/2019 11/25/2019 11/12/2019 11/7/2019 11/25/2019 11/18/2019 11/7/2019 11/12/2019 11/25/2019 11/12/2019 11/14/2019 11/25/2019 11/25/2019 11/18/2019 11/18/2019 11/7/2019 11/18/2019 11/18/2019 11/25/2019 11/7/2019 11/4/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/12/2019 11/18/2019 11/18/2019 11/18/2019 11/25/2019 11/12/2019 11/18/2019 11/7/2019 11/25/2019 11/18/2019 11/7/2019 11/25/2019 11/18/2019 11/18/2019 11/7/2019 11/18/2019 11/25/2019 11/18/2019 11/25/2019 11/12/2019 Vendor 2--K12 MANAGEMENT 570--Independence Blue Cross 1--SBH ASSOCIATES, L.P. 227--CENTRAL YORK SCHOOL DISTRICT 475--SOUTHERN TIOGA SCHOOL DISTRICT 560--MONESSEN CITY SCHOOL DISTRICT 231--CHELTENHAM TOWNSHIP SCHOOL DISTRICT 11909 773--CHESTER COUNTY INTERMEDIATE UNIT 446--SCHUYLKILL VALLEY SCHOOL DISTRICT 779--READING HOSPITALITY, IIL dba DOUBLE TREE HILTON BY READING 60--TD BANK, N.A 425--POTTSTOWN SCHOOL DISTRICT 481--SPRING-FORD AREA SCHOOL DISTRICT 401--PARKLAND SCHOOL DISTRICT 278--EPHRATA AREA SCHOOL DISTRICT 222--CENTENNIAL SCHOOL DISTRICT 369--MORRISVILLE BOROUGH SCHOOL DISTRICT12016 31--DEVON HEALTHCARE GROUP 445--SAYRE AREA SCHOOL DISTRICT 225--CENTRAL DAUPHIN SCHOOL DISTRICT 60--TD BANK, N.A 166--MM HOTEL LP DBA DOUBLETREE HOTEL MONROEVILLE 20--COMM-CORE 271--EASTERN LANCASTER COUNTY SCHOOL DISTRICT 368--MOON AREA SCHOOL DISTRICT 778--THE PALACE CENTER 370--MOSHANNON VALLEY SCHOOL DISTRICT 787--MILTON AREA SD 21--GLOBAL TELETHERAPY 473--SOUTHERN LEHIGH SCHOOL DISTRICT 774--GUS GENETTI HOTEL & RESTAURANT OF WILKES-BARRE Inc. 376--NEW CASTLE AREA SCHOOL DISTRICT 261--DELAWARE VALLEY SCHOOL DISTRICT 795--SUSQUEHANNA COMMUNITY SD 384--NORTH STAR SCHOOL DISTRICT 764--CONNEAUT SD 22--THERAPY SOURCE 748--DWAYNE NEWSOME dba NEW WAY TRANSPORTATION 315--HEMPFIELD AREA SCHOOL DISTRICT 130--AVONBROOK CONSULTING 782--HOLLIDAYSBURG AREA SD 586--PITTSTON AREA SCHOOL DISTRICT 371--MOUNT CARMEL AREA SCHOOL DISTRICT 12018 424--POTTSGROVE SCHOOL DISTRICT 776--SIGMAS CONFERENCE & EVENT CENTER Document No Wire 11/27/19 12061 11947 11906 12113 12012 Amount 1,809,977.53 89,809.98 31,676.04 17,400.75 15,848.09 15,788.76 15,396.78 13,447.98 12,929.88 12,819.96 12,673.70 12,107.52 11,884.04 11,248.52 11,085.14 9,308.59 9,147.74 8,749.68 8,746.07 8,214.67 8,200.94 7,809.96 7,725.63 7,437.14 7,178.87 7,000.00 6,811.37 6,810.36 6,682.24 6,492.77 6,400.00 6,311.37 6,287.78 6,180.62 6,137.36 6,109.86 5,734.30 5,720.00 5,717.40 5,481.20 5,382.25 5,228.32 5,121.27 5,042.18 5,000.00 Date 11/7/2019 11/4/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/25/2019 11/25/2019 11/7/2019 11/25/2019 11/25/2019 11/18/2019 11/7/2019 11/12/2019 11/18/2019 11/18/2019 11/25/2019 11/7/2019 11/25/2019 11/18/2019 11/7/2019 11/18/2019 11/25/2019 11/7/2019 11/7/2019 11/18/2019 11/18/2019 11/25/2019 11/7/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/18/2019 11/25/2019 11/25/2019 11/25/2019 Vendor 239--COLONIAL SCHOOL DISTRICT 31--DEVON HEALTHCARE GROUP 314--HEMPFIELD SCHOOL DISTRICT 784--EAST PENNSBORO SD 272--EASTERN LEBANON COUNTY SCHOOL DISTRICT 273--EASTERN YORK SCHOOL DISTRICT 3--VIRTUAL TECHNOLOGIES GROUP 583--METLIFE SMALL BUSINESS CENTER 218--CAMERON COUNTY SCHOOL DISTRICT 801--MID ATLANTIC CONNECTIONS, INC 411--PENNSBURY SCHOOL DISTRICT 332--KUTZTOWN AREA SCHOOL DISTRICT 762--THALHEIMER & PALUMBO, P.C. 762--THALHEIMER & PALUMBO, P.C. 780--GIRARD SD 354--MERCER AREA SCHOOL DISTRICT 472--SOUTHEASTERN GREENE SCHOOL DISTRICT12109 216--BUTLER AREA SCHOOL DISTRICT 119--CONRAD O'BRIEN PC 293--FREEPORT AREA SCHOOL DISTRICT 176--CANON MCMILLAN SCHOOL DISTRICT 264--DONEGAL SCHOOL DISTRICT 31--DEVON HEALTHCARE GROUP 251--COUNCIL ROCK SCHOOL DISTRICT 258--DALLASTOWN AREA SCHOOL DISTRICT 781--HATBORO-HORSHAM SD 581--HOPEWELL AREA SCHOOL DISTRICT 449--SENECA VALLEY SCHOOL DISTRICT 763--CENTRAL FULTON SD 373--MOUNT UNION AREA SCHOOL DISTRICT 789--MONTROSE AREA SD 296--GENERAL MCLANE SCHOOL DISTRICT 359--MIFFLIN COUNTY SCHOOL DISTRICT 143--MUHLENBERG SCHOOL DISTRICT 664--OFFICETEAM 664--OFFICETEAM 301--GREATER LATROBE SCHOOL DISTRICT 338--LEBANON SCHOOL DISTRICT 299--GREAT VALLEY SCHOOL DISTRICT 298--GOVERNOR MIFFLIN SCHOOL DISTRICT 63--BAYFRONT CONVENTION CENTRE 582--JEFFERSON-MORGAN SCHOOL DISTRICT 15--VERIZON WIRELESS 464--SOUTH BUTLER COUNTY SCHOOL DISTRICT 12107 430--RADNOR TOWNSHIP SCHOOL DISTRICT Document No 11912 11882 11987 11967 11969 11970 12131 12081 11898 12083 12088 11997 11926 11951 11980 12005 Amount 4,906.43 4,889.05 4,765.14 4,597.06 4,557.54 4,520.70 4,511.25 4,478.30 4,330.20 4,280.00 4,219.39 4,113.92 4,050.00 4,050.00 4,042.60 4,034.72 4,029.25 3,946.33 3,917.00 3,892.25 3,787.10 3,706.39 3,704.93 3,618.65 3,610.40 3,519.99 3,452.76 3,364.99 3,338.06 3,334.13 3,284.77 3,241.21 3,096.62 3,092.98 2,962.50 2,962.50 2,957.64 2,924.31 2,912.44 2,805.04 2,800.00 2,759.45 2,725.18 2,672.78 2,653.86 11932 12102 11945 ACH 111419 12095 12116 12029 11972 11903 11961 12101 11904 ACH 110419 12010 12053 11968 12015 11952 12017 12008 11981 12112 11936 12024 11922 12122 12025 11916 12125 11965 11988 11895 11989 12092 11897 12054 11977 11899 11962 12058 11918 11920 11986 11990 12103 11905 12021 12014 11979 12006 12022 12027 12086 11984 12000 11983 11982 11956 11992 12130 12094 11948 12098
Disbursements Disbursements November 2019 November 2019 (2 of 3) (2 of 3) Date 11/12/2019 11/25/2019 11/18/2019 11/7/2019 11/25/2019 11/7/2019 11/25/2019 11/18/2019 11/18/2019 11/18/2019 11/25/2019 11/25/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/4/2019 11/25/2019 11/18/2019 11/4/2019 11/4/2019 11/18/2019 11/7/2019 11/7/2019 11/7/2019 11/25/2019 11/4/2019 11/18/2019 11/12/2019 11/18/2019 11/4/2019 11/18/2019 11/7/2019 11/18/2019 11/18/2019 11/4/2019 11/12/2019 11/4/2019 11/25/2019 11/18/2019 11/18/2019 11/25/2019 11/26/2019 11/7/2019 11/25/2019 Vendor 664--OFFICETEAM 590--STEEL VALLEY SCHOOL DISTRICT 405--PENN MANOR SCHOOL DISTRICT 577--CHESTNUT RIDGE SCHOOL DISTRICT 463--SOUTH ALLEGHENY SCHOOL DISTRICT 221--CARLISLE AREA SCHOOL DISTRICT 477--SPRING COVE SCHOOL DISTRICT 559--GALETON AREA SCHOOL DISTRICT 402--PEN ARGYL AREA SCHOOL DISTRICT 306--GROVE CITY AREA SCHOOL DISTRICT 461--SOMERSET AREA SCHOOL DISTRICT 421--PLEASANT VALLEY SCHOOL DISTRICT 267--DUQUESNE CITY SCHOOL DISTRICT 794--SOUTHERN COLUMBIA AREA SD 276--ELIZABETHTOWN AREA SCHOOL DISTRICT 11971 320--INTERBORO SCHOOL DISTRICT 726--SAMANTHA CHACANIAS 413--PEQUEA VALLEY SCHOOL DISTRICT 367--MONTOURSVILLE AREA SCHOOL DISTRICT 12013 664--OFFICETEAM 545--AMANDA L THOMAS 786--JULIE JASZCAR 262--DERRY AREA SCHOOL DISTRICT 263--DERRY TOWNSHIP SCHOOL DISTRICT 765--DANVILLE AREA SD 474--SOUTHERN FULTON SCHOOL DISTRICT 561--ALICIA WILBURNE 392--NORWIN SCHOOL DISTRICT 775--STATE COLLEGE ASSOCIATES, LTD dba RAMADA CONFERENCE CENTER 792--OSWAYO VALLEY SD 594--SUPPORT BRANDS LLC 269--EAST PENN SCHOOL DISTRICT 220--CARBONDALE AREA SCHOOL DISTRICT 130--AVONBROOK CONSULTING 548--CENTURY LINK 558--Nippon Life Insurance Co of America 741--KEYSTONE APPRENTICESHIP TRUST 55--CONNECTING THE PIECES, LLC 735--DAVID SUROVEC 116--RANDY JOHNSON 361--MILLERSBURG AREA SCHOOL DISTRICT 793--PINE GROVE AREA SD 40--PITNEY BOWES GLOBAL FINANCIAL SERVICES LLC 489--TITUSVILLE AREA SCHOOL DISTRICT 478--SPRING GROVE AREA SCHOOL DISTRICT Document No 11943 12120 12031 11910 12106 11902 12114 11978 12030 11985 12105 12093 11964 12110 Amount 2,562.50 2,550.19 2,508.71 2,491.05 2,489.98 2,487.11 2,485.45 2,393.95 2,390.17 2,383.43 2,316.30 2,210.90 2,170.86 2,159.30 2,137.70 2,117.70 2,109.00 2,052.64 2,051.87 2,025.00 2,008.80 2,006.41 1,973.20 1,937.88 1,897.26 1,729.09 1,697.32 1,668.97 1,568.00 1,541.56 1,499.68 1,392.21 1,368.50 1,287.36 1,163.31 1,151.32 1,137.50 1,064.96 1,038.58 1,007.26 985.58 976.38 949.94 948.17 903.18 Date 11/18/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/7/2019 11/4/2019 11/18/2019 11/25/2019 11/18/2019 11/25/2019 11/4/2019 11/25/2019 11/4/2019 11/25/2019 11/7/2019 11/12/2019 11/25/2019 11/25/2019 11/18/2019 11/18/2019 11/18/2019 11/7/2019 11/25/2019 11/18/2019 11/12/2019 11/7/2019 11/4/2019 11/7/2019 11/4/2019 11/7/2019 11/25/2019 11/12/2019 11/25/2019 11/7/2019 11/25/2019 11/15/2019 11/18/2019 11/18/2019 11/25/2019 11/4/2019 11/25/2019 11/18/2019 11/12/2019 11/25/2019 Vendor 342--LITTLESTOWN AREA SCHOOL DISTRICT 284--FARRELL AREA SCHOOL DISTRICT 743--MAEGAN BREGENSER 95--TIFFANY PUGLIESE 290--FRANKLIN AREA SCHOOL DISTRICT 215--BURRELL SCHOOL DISTRICT 743--MAEGAN BREGENSER 4--STAPLES ADVANTAGE 33--NICHOL LASKEY 51--PEOPLE SHARE LLC 683--SHALANA COLEMAN 38--CHRISTIAN GLENNON 427--PUNXSUTAWNEY AREA SCHOOL DISTRICT 12096 598--Transamerica Employee Benefits 598--Transamerica Employee Benefits 230--CHARTIERS VALLEY SCHOOL DISTRICT 681--Marco Labricciosa 134--JESSICA WRIGHT 479--SPRINGFIELD SCHOOL DISTRICT 37--LAUREN ARDIFF 22--THERAPY SOURCE 286--FLEETWOOD AREA SCHOOL DISTRICT 243--CONEMAUGH VALLEY SCHOOL DISTRICT 550--THE PROTECTION BUREAU 566--LANGUAGE LINE SERVICES 134--JESSICA WRIGHT 766--EAST LYCOMING SD 735--DAVID SUROVEC 767--CAPITAL AREA INTERMEDIATE UNIT 36--MEGAN BOGART 240--COLUMBIA BOROUGH SCHOOL DISTRICT 724--JOANNA ENCAPERA-TESLOVICH 43--EILEEN CANNISTRACI 588--SOUTH WILLIAMSPORT AREA SCHOOL DISTRICT 235--CLARION-LIMESTONE AREA SCHOOL DISTRICT 681--Marco Labricciosa 678--Lucas VanEmburg 785--FORBES ROAD SD 790--MOUNT PLEASANT AREA SD 106--LISA BERGER 21--GLOBAL TELETHERAPY 659--AMANDA WEBER 7--ALLISON SCHLEIFER 771--FAMILY INVOLVEMENT CONFERENCE 140--Tricia Kovall Document No 12002 11973 12074 12039 11976 11896 11887 12036 12085 12032 12104 11878 Amount 896.57 886.09 883.18 875.00 838.51 821.82 757.91 756.02 749.30 740.93 700.48 685.65 669.37 667.82 667.82 665.43 655.02 639.04 633.77 632.30 609.00 606.32 601.96 600.00 598.84 597.98 556.38 549.28 534.93 509.18 496.72 491.49 491.29 488.12 487.74 485.00 484.08 472.98 468.88 460.02 460.00 457.47 455.25 450.00 437.92 11894 12127 11908 11942 12063 12117 11999 12038 11974 11914 12124 11998 11938 11925 11880 11900 11888 11913 12064 11934 12108 11911 12075 12003 11975 12020 12070 11885 12045 11953 11935 12128 11991 11892 12090 11891 11875 11993 11923 11924 11921 12111 11873 12026 11950 12028 11893 11966 11901 11955 11959 11890 11940 11879 12056 12034 12007 12091 ACH 112619 11928 12115
Disbursements Disbursements November 2019 November 2019 (3 of 3) (3 of 3) Date 11/12/2019 11/25/2019 11/7/2019 11/18/2019 11/18/2019 11/4/2019 11/18/2019 11/25/2019 11/18/2019 11/25/2019 11/25/2019 11/7/2019 11/1/2019 11/25/2019 11/12/2019 11/12/2019 11/25/2019 11/25/2019 11/7/2019 11/18/2019 11/25/2019 11/4/2019 11/25/2019 11/7/2019 11/25/2019 11/25/2019 11/25/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/25/2019 11/18/2019 11/18/2019 11/25/2019 11/12/2019 11/25/2019 11/18/2019 11/18/2019 11/4/2019 11/12/2019 11/18/2019 11/18/2019 11/18/2019 Vendor 682--JENNIFER WEIMER 653--RACHAEL LATORE 247--CONRAD WEISER AREA SCHOOL DISTRICT 11917 727--KILEY BRADY 57--MOUNT LEBANAN SD 6--BOBBI JO E LUNDY 85--MELISSA WHITE 725--MARISSA RUTKOWSKI 739--LINDSEY WILSON MAPSTONE 601--MARGARET L DOMINICK 32--NANCY SHIFFLETT 22--THERAPY SOURCE 100--KIM KOHLER 64--PENNSYLVANIA CONVENTION CENTER/SMG 12089 772--CLARION AREA SCHOOL DISTRICT 51--PEOPLE SHARE LLC 547--ANGELA RUDY 5--JACLYN A SNYDER 228--CHAMBERSBURG AREA SCHOOL DISTRICT 11907 44--THE MEADOWS PSYCHIATRIC CENTER 6--BOBBI JO E LUNDY 102--CARLY TETKOSKI 54--ANNE HOPKINS 244--CONESTOGA VALLEY SCHOOL DISTRICT 705--TRACI CHANDLER 796--STACEY KLEPFER 36--MEGAN BOGART 363--MINERSVILLE AREA SCHOOL DISTRICT 734--CARLAJANE DONOVAN 717--CAITLIN CAMERON 41--PITTSBURGH POST-GAZETTE 733--AMY TAYLOR 28--DUANE MORRIS LLP 635--DE LAGE LANDEN FINANCIAL SERVICES 137--DEANNA WILHELM 19--BCN TELECOM INC. 723--ANDREA COSTABILE 159--VINCENT T CIARAMELLA 754--KARI MILLER 33--NICHOL LASKEY 769--AUDRA MAZZANTE 788--MOHAWK AREA SD 783--KEYSTONE SD 565--CASSANDRA GERY Document No 11937 12097 Amount 435.23 432.58 404.71 404.38 395.06 392.54 389.18 385.63 384.60 383.68 383.25 378.00 375.36 372.00 366.65 347.31 339.49 339.08 337.59 335.00 325.08 324.51 307.76 295.69 281.12 278.64 266.95 266.68 264.32 263.83 263.50 257.76 254.50 254.00 252.23 250.56 249.00 248.24 243.49 231.40 227.42 224.55 223.84 218.78 Date 11/25/2019 11/18/2019 11/12/2019 11/25/2019 11/25/2019 11/4/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/4/2019 11/25/2019 11/25/2019 11/25/2019 11/25/2019 11/7/2019 11/25/2019 11/25/2019 11/4/2019 11/12/2019 11/25/2019 11/12/2019 11/25/2019 11/25/2019 11/4/2019 11/12/2019 11/4/2019 11/25/2019 11/18/2019 11/25/2019 11/12/2019 11/25/2019 11/25/2019 11/18/2019 11/18/2019 11/5/2019 11/1/2019 11/15/2019 11/12/2019 Vendor 716--ADRIANA ROJAS 160--ANTHONY GRANDE 768--ANTA BRUCKER 149--VALERIE L MANSBERGER 655--SARAH EMERY 91--ALLISON SNYDER 141--Allison Wallace 639--LISA BIRCKBICHLER 797--LYNDE TOFFTON 546--KATELYNN K TAYLOR 136--CHRISTINA JOHNSON 74--JOHANNA N BEST 4--STAPLES ADVANTAGE 710--DONNA RILEY 672--MEGAN MILLER 632--Erin Harper 150--AITHEN J WESLEYAN 77--ELIZABETH JONES 604--Tara Stine 799--MACAELA COLLINS 256--CURWENSVILLE AREA SCHOOL DISTRICT 646--KRISTEN SEPTAK 484--STO-ROX SCHOOL DISTRICT 761--GABRIELLE JONES 4--STAPLES ADVANTAGE 641--KYMBERLY OUTTEN 777--ROGER & SHAWNA WRIGHT dba THE INN ON QUARRY GLENN LLC 30--CORINNE MCGOURNEY 800--MCKENNA SNYDER LLC 563--INFINISOURCE BENEFIT SERVICES 646--KRISTEN SEPTAK 137--DEANNA WILHELM 47--MICHAEL FROST 84--Wendy Smith 79--KELLY BAUSHER-BRYNIARSKI 770--KATHY PUENTES 407--PENN-DELCO SCHOOL DISTRICT 798--ROBERT RUSSELL 1--SBH ASSOCIATES, L.P. 791--NEW BRIGHTON AREA SD 52--PURCHASE POWER 100--KIM KOHLER 678--Lucas VanEmburg 762--THALHEIMER & PALUMBO, P.C. Document No 12042 11954 11929 12129 12100 11874 12044 12071 12072 12066 12052 12065 12119 12059 12080 11883 12043 12060 12123 12073 11919 12068 12121 11884 11949 12069 11946 12055 12078 11886 11941 11881 12082 12041 12067 11939 12087 12099 12035 12023 ACH 110519 Voided - 11737 Voided - 11652 Voided - 11926 Amount 217.50 214.38 211.94 205.62 202.56 200.11 187.51 183.25 180.00 177.60 165.74 157.37 155.93 150.00 146.76 138.28 131.97 119.48 118.77 116.63 114.98 110.12 109.33 102.94 101.33 100.76 100.00 100.00 100.00 97.75 92.44 80.24 76.56 76.27 71.20 70.00 62.26 60.00 34.50 12.20 10.00 -375.36 -484.08 -4,050.00 11996 12019 11876 12004 12077 12001 12076 12084 11927 11872 11933 11944 12048 12062 12037 12050 11877 12049 11915 12126 12118 12079 12009 12051 11957 12033 12046 11963 11960 12057 11931 12047 12040 11994 11889 11930 12011 11995 11958 Total for ISPA Checking 6682 2,584,363.52
K12 Invoice Aging K12 Invoice Aging Recommended Payment 14,000.00 $ 322,957.50 $ 134,355.20 $ 313,812.50 $ 500,298.00 $ 201,751.01 $ 16,940.00 $ 9,660.00 $ 17,800.00 $ 5,733.00 $ Bill GL Posting Date 1-30 31-60 61-90 91- Total 200052761 USA Test P 200052822 OLS 200052820 COMP 200052821 Mat 200052808 M&T 200052741 Misc Charg 200052794 STAR360 200052815 IST 200052819 Teacher Co 200052907 BB Connect 200052990 M&T 200053013 Teacher Co 200052997 Mat 200053016 IST 200052967 Misc Charg 200053004 OLS 200053003 Mat 200053002 COMP 10/14/2019 10/15/2019 10/15/2019 10/15/2019 10/15/2019 10/15/2019 10/15/2019 10/17/2019 10/17/2019 10/23/2019 11/8/2019 11/13/2019 11/13/2019 11/13/2019 11/15/2019 11/15/2019 11/15/2019 11/15/2019 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,000.00 322,957.50 134,355.20 313,812.50 500,298.00 201,751.01 16,940.00 9,660.00 17,800.00 5,733.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,000.00 322,957.50 134,355.20 313,812.50 500,298.00 201,751.01 16,940.00 9,660.00 17,800.00 5,733.00 518,226.00 13,400.00 -2,944.00 9,996.00 203,910.33 314,535.00 137,805.00 125,505.05 2,857,740.59 518,226.00 13,400.00 -2,944.00 9,996.00 203,910.33 314,535.00 137,805.00 125,505.05 1,320,433.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,537,307.21 Total Payments for Board Approval $ 1,537,307.21
Top 10 AR Balances Top 10 AR Balances As of 11 2018 2018- -2019 Balances 2019 Balances As of 11- -30 30- -19 19 Insight PA Cyber Charter School Accounts Receivable Summary Report School Year 2018-19 as of 11/30/19 Amounts Due Amounts Paid District Regular Ed 168,453.04 40,327.21 11,378.01 Special Ed 331,640.28 Total Due 500,093.32 40,327.21 11,378.01 District 342,439.22 37,504.36 11,378.01 UniPay Refunds Total Paid 342,439.22 39,125.06 10,429.84 Net Due 157,654.10 1,202.15 948.17 Chester-Upland SD Wilkinsburg Borough SD Titusville Area SD .00 .00 .00 .00 .00 1,620.70 .00 948.17 Total Top 10 Top 10 % 159,804.43 100.0% Total Receivables Owed to Insight Total Refunds Owed to Districts from Insight Net Accounts Receivable 159,804.43 (545,955.81) (386,151.38) All remaining credit balances remitted in December
Top 10 AR Balances Top 10 AR Balances As of 11 2019 2019- -2020 Balances 2020 Balances As of 11- -30 30- -19 19 District Regular Ed 1,815,533.36 136,243.82 194,276.32 205,730.30 101,647.69 132,557.26 65,879.33 101,813.39 104,178.39 82,306.78 Special Ed 1,065,002.51 39,658.20 117,888.65 177,480.87 63,255.24 22,871.61 132,016.50 16,295.67 59,461.98 44,684.00 Total Due 2,880,535.87 175,902.02 312,164.97 383,211.17 164,902.93 155,428.87 197,895.83 118,109.06 163,640.37 126,990.78 District 2,182,354.98 UniPay Refunds Total Paid 2,182,354.98 Net Due 698,180.89 175,902.02 120,417.89 119,415.82 110,307.89 109,103.78 88,315.37 86,052.78 57,770.46 55,861.79 Philadelphia City SD East Stroudsburg Area SD Allentown City SD Pittsburgh SD Reading SD Lancaster SD Chester-Upland SD Chambersburg Area SD York City SD Erie City SD .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 191,747.08 191,747.08 263,795.35 54,595.04 46,325.09 109,580.46 32,056.28 105,869.91 71,128.99 .00 .00 263,795.35 54,595.04 46,325.09 109,580.46 32,056.28 .00 .00 .00 .00 .00 105,869.91 71,128.99 Total Top 10 1,621,328.69 1,969,913.34 3,591,242.03 Other Receivables Total Accts Receivable Top 10 % 45%
Federal Funds Federal Funds Expenses Incurred YTD $ % Remaining Remaining Spend FY19-20 Award Fund Description Spend Title I Title II Title IV IDEA At risk and under served Students Professional Development (PD) Student Support and Academic Enrichment Special Needs Students $ $ $ $ 610,382 54,759 7,000 76,969 133,017 $ 26,091 $ $ $ 18% 32% 30% 0% TBD TBD TBD 277,623 $ 3,000 - Total $ 749,110 162,108 $ 18% 277,623 $ 15% of award carryover to following year allowable Title year spend expires September 30, 2020 Projecting to spend to carry over window 2019-20 IDEA award is $277,623. Budgeted at $76,969
Personnel Personnel Employee Totals- Nov 30, 2019 Insight Employees The following changes to staff occurred since Oct 31, 2019 as of Nov 30, 2019. 122 K12 Employees 59 Hired - 1: Total 181 Invent. Spec 1 (from ISPA) Separations 1: Employee Type Teacher Breakdown incl. Specialists Math Invent. 1 (to K12) 75 Elementary (K-6) Secondary (7-11) 37 69 Teachers General Ed Teachers Special Ed 36 5 Guidance Counselors Specials Classes 5 6 School Administration 42 K12 Student Support Services 17 K12 Administrative Services
Financial Summary Financial Summary Nov 2019 YTD Nov 2019 YTD (Appendix 1) (Appendix 1) Variance Current v. Budget Inc./(Dec) Year to Date Budget 819 627 (192) 756 578 (178) 898 854 (44) 2,473 2,060 (414) Year-to-date Actual % Variance to Budget -23.4% -23.5% K-8 Ending Enrollment MS Ending Enrollment HS Ending Enrollment Total Ending Enrollment -4.9% -16.7% FUNDING SOURCES: Total Funding 13,818,948 $ 12,490,527 $ (1,328,420) $ -9.6% INSTRUCTION (868,285) Total Teachers Related Expenses Total Students Related Expenses Total Student and Family Services Total Instruction 4,455,695 $ 4,869,754 390,391 9,715,840 $ 3,587,410 $ 3,703,460 (1,166,294) 314,257 (76,134) 7,605,127 $ -19.5% -23.9% -19.5% -21.7% (2,110,712) $ SUPPORT SERVICES Total Admin & Governance Total Technology Total Insurance/Facilities/Ops Total Support Services (481,955) 3,339,166 $ 447,836 257,387 4,044,388 $ 2,857,211 $ 400,720 (47,116) 225,567 (31,820) 3,483,497 $ -14.4% -10.5% -12.4% -13.9% (560,891) $ Total School Expenditures This Period 13,760,228 $ 11,088,624 $ (2,671,604) $ -19.4% Increase/(Decrease) to Fund Balance $ 58,720 1,401,903 $ 1,343,183 $ na Revenue: YTD: Accrued $12.49M, 9.6% lower than budget due to forecasted enrollment decrease. Expenses: YTD: $11.09M, was 19.4% lower than budget due to decreases for forecasted enrollment. Surplus: YTD: $1.34M
Balance Sheet As of Nov 30, 2019 Balance Sheet As of Nov 30, 2019 (Appendix 2) (Appendix 2) Change in Balance From Prev. Month Assets Total Cash Total Fixed Assets Total Other Current Assets Total Assets Year To Date 10/31/2019 Year To Date 11/30/2019 Actual Actual 5,380,901 372,530 6,107,390 11,860,821 5,600,674 367,152 5,361,240 11,329,066 219,773 (5,378) (746,150) (531,754) Liabilities and Equity Liabilities Total Accounts Payable Total Other Current Liabilities Total Liabilities 3,347,285 2,431,788 5,779,073 2,857,741 2,664,387 5,522,127 (489,544) 232,598 (256,946) Equity Total Equity 6,081,747 5,806,939 (274,809) Total Liabilities and Equity 11,860,821 11,329,066 (531,754) Other Current Asset decrease related to school district receivables collection. For full Balance Sheet, see supporting spreadsheet shared with the Board
