Page 318 - City of Westlake FY20 Budget

Section 8 Academic Funds
Executive Transmittal Letter

General Fund Budget Summary
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 18/19 FY 19/20 (Decrease) (Decrease)
Total Revenues $ 8,923,313 $ 9,717,933 $ 794,620 8.90%
Total Expenditures 8,775,132 9,572,502 797,370 9.09%
Other Resources 90,000 90,000 - 0.00%
Other Uses (90,000) (90,000) - 0.00%
Net Change to Fund Balance 148,181 145,151 (2,750) -1.86%
FUND BALANCE BEGINNING 1,105,605 1,253,786 148,181 13.40%
FUND BALANCE ENDING 1,235,786 1,399,217 145,431 11.60%
Assigned 90,450 34,000 (56,450) -62.41%
FUND BALANCE ENDING (Unassigned) $ 1,163,336 $ 1,365,217 $ 201,881 17.35%
# Days Operating (Based on 365) 48 52 4 7.58%
Students Enrolled 869 910 41 4.72%
TEA Funding per Student $ 7,972 $ 8,399 $ 427 5.36%
Operating Cost per Student $ 10,098 $ 10,519 $ 421 4.17%

Teachers 66.17 70.30 4.13 6.24%
Student/Teacher Ratio 13.13 12.90 (0.23) -1.75%

II. CURRENT CONDITIONS AND FUTURE CONSIDERATIONS

The Town of Westlake, and therefore Westlake Academy, finds itself in one of DFW’s most desirable
executive housing corridors and rapid growth regions for the Metroplex - located along State Highway 114.
Growth associated with the region necessitates that we not only understand and deal with the associated
changes, but also understand the impact future growth presents for our community. As our state
educational 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:

Westlake’s Permanent Population Growth: This is the portion of our population considered to be our
permanent residential base. The growth from the 1990 population of 185 to 2019’s number of
approximately 1,450 residents, represents an increase of 684% equal to roughly 1,265 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 several years. Resident surveys continually indicate that the Academy is a
strong motivator for our residents to locate in Westlake, along with other quality of life amenities and our
public safety services.

Planning for student enrollment growth in light of residential development continues to be a challenge.
Westlake Academy has experienced steady expansion across our Kindergarten through G12 cohorts - from
491 students in SY 09/10 to a projected 910 in just 10 years’ time (SY 19/20). Current efforts to monitor our
enrollment, includes the use of a consulting firm to review our existing facility master plan. The coming

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