Page 284 - Ord 866 Adopting a revised Fiscal Year 17-18 and new proposed Fiscal Year 18-19 budget

Section 8
Westlake Academy Fund Overview

G ENERAL F UND B UDGET S UMMARY

A public school operating budget is legally required to include the Academy’ s General Operating, Debt Service, and Food
Service Funds. Because the Academy does not maintain the latter two, the General Fund is the only legally adopted fund. For
informational purposes only, budgets for Special Revenue Funds are included throughout the presentation.

Amended Proposed $ Increase % Increase
FY 2017/ 18 FY 2018/ 19 ( Decrease) ( Decrease)
Total Revenues $ 8,477,645 $ 8,847,829 $ 370,184 4%
Total Expenditures 8,455,072 8,710,132 255,060 3.02%
Other Resources 85,000 76,000 (9,000) - 11%
Other Uses ( 85,000) ( 76,000) 9,000 0%
Excess Revenues Over( Under) Expenditures 22,573 137, 697 115, 124 510%
FUND BALANCE BEGINNING 939,271 961, 844 22,573 2%
FUND BALANCE ENDING 961,844 1,099, 541 137, 697 14%
Assigned 39,090 34,000 (5,090) - 13%
FUND BALANCE ENDING (Unassigned) $ 922,754 $ 1,065,541 $ 142,787 15%
Days Operating (Based on 365) 40 45 5 12%

Students Enrolled 856 876 20 2%
TEA Funding per Student $ 7,600 $ 7,762 $ 162 2%
Operating Cost per Student $ 9,877 $ 9,943 $ 66 1%
Teachers 66.26 66.08 (0.18) 0%
Student/ Teacher Ratio 12.92 13.26 0.34 3%

II. THE CHALLENGES

The Town of Westlake, and therefore Westlake Academy, finds itself in one of DFW’s most desirable executive housing
corridors - located along State Highway 114. Growth associated with the area necessitates that we not only understand and
deal with the associated changes, but also understand the impact the future growth presents. As our state charter is held by
the municipality, any challenge or opportunity experienced by the community as a whole also affects the Academy. The most
pressing challenges include:

1. Westlake’ s Permanent Population Growth: This is the portion of our population considered to be our permanent
residents. The growth from the 1990 population of 185 to 2017’ s population of 1,380 represents an increase of 645%
equal to 1,195 additional residents. We continually monitor and plan for increases in these numbers considering our
Comprehensive Plan’ s (Forging Westlake) forecast of approximately 7.21% annual population growth between now
and 2040. This would bring us to around 7,000 residents.

The number of Westlake residents who are selecting Westlake Academy as the educational choice for their students
has doubled in the past five years. Resident surveys continually indicate that the Academy is a strong motivator for
our residents to locate in Westlake, and one of the top three ( 3) reasons why they plan to remain in our community.
For example, the 2017 municipal services survey results indicate 75% of the new residents say enrollment at Westlake
Academy was extremely important/ important to their decision to live in the community. With the majority of those
residents then listing this as the number one (1) reason they will remain in Westlake over the next five (5) years.
Planning for Academy growth in the face of residential development continues to be a challenge. Wherever possible,
the Town has entered economic development agreements with residential developers to provide funding for Westlake
Academy facilities to lessen the impact of their residential development on the Academy’ s enrollment.

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