The Richard Allen Preparatory Charter School Board of
The Richard Allen Preparatory Charter School Board of Trustees Agenda April 18th Board Meeting
Members in Attendance Joel Trotter (President) Olawale Mabogunje (Secretary) Jerald Johns (Member) Lawrence Jones, Jr (Ex-Officio Member) Others in Attendance Renee Brooks ( Asst. Principal) JANEYA HISLE (BUSINESS MANAGER) Brittney Pless ( Asst. Secretary)
I. Call to Order: 7:10pm II. Community Comment: None III. Acceptance of Minutes IV. Financial Operations Balance Sheet As of March 1, cash was at $894,100 and the current ratio, a measure of the school’s ability to meet current payment obligations, was at 1.4. The target or benchmark figure for current ratio is 2.0 Budget to Actual - Year to Year comparisons As of March 31 ( approximately 71% of the way through the fiscal year), total revenues were at 69% of the budget and total expenses were at 79% of the budget, resulting in a net loss of - $470, 755.
Location: Richard Allen Preparatory Charter School 2601 S. 58th Street Philadelphia, PA 19143
Annual Projection There was also a net loss at this point in the 2015- 2016 fiscal year, and much of the federal revenue will be collected by year end. However, a projection of income and expenses indicated a net loss of -$300,195 for the fiscal year 2016-2017. Projected year-end revenues are on-target with the approved budget ( shown below), but are approximate $1535k less than actually expected revenues as calculated in the internal working budget. Student enrollment/special education enrollment and uncollected National School Lunch program revenue account for the variance. Projected personnel expenses are $397K above the approved budget and $196k above the internal working budget. It is important to note that the projections are not in any way predictive. They are simply an extrapolation of current year activity.
V.
CEO’s Report -
8th Grade Class Trip to Atlanta, GA Renewal: No New Updates
-
Communications for RAPCS Overview of Communications Plan at RAPCS March Communications Updates/Analytics
VI.
Location: Richard Allen Preparatory Charter School 2601 S. 58th Street Philadelphia, PA 19143
Members in Attendance Joel Trotter (President) Olawale Mabogunje (Secretary) Jerald Johns (Member) Lawrence Jones, Jr (Ex-Officio Member) Others in Attendance Renee Brooks ( Asst. Principal) JANEYA HISLE (BUSINESS MANAGER) Brittney Pless ( Asst. Secretary)
I. Call to Order: 7:10pm II. Community Comment: None III. Acceptance of Minutes IV. Financial Operations Balance Sheet As of March 1, cash was at $894,100 and the current ratio, a measure of the school’s ability to meet current payment obligations, was at 1.4. The target or benchmark figure for current ratio is 2.0 Budget to Actual - Year to Year comparisons As of March 31 ( approximately 71% of the way through the fiscal year), total revenues were at 69% of the budget and total expenses were at 79% of the budget, resulting in a net loss of - $470, 755.
Location: Richard Allen Preparatory Charter School 2601 S. 58th Street Philadelphia, PA 19143
Annual Projection There was also a net loss at this point in the 2015- 2016 fiscal year, and much of the federal revenue will be collected by year end. However, a projection of income and expenses indicated a net loss of -$300,195 for the fiscal year 2016-2017. Projected year-end revenues are on-target with the approved budget ( shown below), but are approximate $1535k less than actually expected revenues as calculated in the internal working budget. Student enrollment/special education enrollment and uncollected National School Lunch program revenue account for the variance. Projected personnel expenses are $397K above the approved budget and $196k above the internal working budget. It is important to note that the projections are not in any way predictive. They are simply an extrapolation of current year activity.
V.
CEO’s Report -
8th Grade Class Trip to Atlanta, GA Renewal: No New Updates
-
Communications for RAPCS Overview of Communications Plan at RAPCS March Communications Updates/Analytics
VI.
Location: Richard Allen Preparatory Charter School 2601 S. 58th Street Philadelphia, PA 19143
