Page 282 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 8 Academic Funds
Westlake Academy Overview

Founded in 2003, Westlake Academy is an open enrollment charter school that is owned and
operated by the Town of Westlake.

The Academy is the Town’ s largest operating department, and is required under state law to
publish a separate budget document. The Westlake Academy Fund was incorporated into the
Town’ s budget structure in FY2010/ 11 in order to capture the total cost of municipal programs
and services in a single document. Note that revenues and expenditures are aligned with the
school fiscal year, which begins on September 1 and ends on August 31.

For detailed information concerning Academy revenues and expenditures, see Westlake
Academy’ s current year operating budget, available online at www.westlakeacademy. org.

Revenues and Other Sources
Revenues are budgeted at $8,847,829; a 4.37% increase of $370,184 from prior year
estimated.
Other sources are budgeted at $76,000; a 10.59% decrease of $9,000 from prior year
estimated.

Expenditures and
Expenditures are budgeted at $8,710,132; a 3.02% increase of $255,060 from prior year
estimated.
Other sources are budgeted at $76,000; a 10.59% decrease of $9,000 from prior year
estimated.

Fund Balance
The ending fund balance is projected to be $1,099,541
This amount represents a 14.32% increase of $137,697 from prior year estimated.
The unassigned balance of $1,065,541 represents coverage for 45 operating days.

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