Page 319 - City of Westlake FY20 Budget

Section 8 Academic Funds
Executive Transmittal Letter

school year we will see the plan updated with new information, projections for student enrollment, and
recommendations to help us prepare for both our immediate and long-term facility needs. Our current
growth requires that we carefully manage our student enrollment processes to help ensure that we provide
available space for children in our primary boundary.

DFW Metro Area Employment and Population Growth: Since 1970, the Dallas Fort Worth Metroplex has
grown by more than 150% - a faster pace than the state and nation. At 9,500 square miles, it is larger in
total area than 5 of our states. With a population of nearly 7.2 million, it is the fourth largest metropolitan
area in the country. Forecasts from the North Central Texas Council of Governments (NCTCOG) predict
employment to grow, in this 12-county standard metropolitan statistical (SMSA) area, by almost 70% over
the next 30 years. Population growth over this same 30-year period is also forecasted to be 69%. This
regional growth will impact the Westlake community and any further residential growth will affect the
demand for enrollment opportunities at the school.

Public Education Funding: Funding of public education remains a prominent topic across the state and
within the legislature. During the 86 Legislative Session, changes were made to the funding formulary and
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many school districts (ISD’s) and charters have received additional revenue for on-going student based
operational costs. We continue to receive updated direction from the Texas Education Agency (TEA)
regarding the calculation of the new formulary and teacher compensation requirements. While the new
funding for the 2019 year has been a welcome addition to our revenue stream, the amount that has been
reported that we will receive does not return us to the higher per student allocations from the pre-2011
funding levels.

The municipal government continues to allocate significant resources to the school to help deal with State
funding limitations, maintain high quality educational services, provide for the Academy’s facilities, and
shared services teams. Additionally, we relay on our affiliate groups to help bridge gaps in our revenue.
The Westlake Academy Foundation (WAF) raises significant operating funds for the Academy, without
which the school could not offer the rich slate of special programs, professional development, and
technology-based applications. We also benefit from the House of Commons (HOC) and Westlake Academy
Athletic Club (WAAC) fundraising efforts. The HOC helps to provide additional support to our teachers and
staff teams through appreciation-based events, spirit wear, and other parent/teacher type events. And, the
WAAC is the affiliate group who works to support our athletic opportunities.

Strategic Planning: As we move into the school year, we will be working with both the academic and
municipal teams to update our current strategic plan. We have a strong set of vision, mission, and values
that help guide our efforts. With the help of a Balanced Scorecard, we will validate or redefine our strategic
outcomes based on student demand and opportunities and ensure we are utilizing the correct measures for
success and benchmarking. Any new strategic plan proposals will be submitted to the Board for review,
consideration, and adoption.

Continued Emphasis on Long-Range Financial Planning: The proposed budget also contains an updated
Long-Range Financial Forecast which identifies key revenue and expenditure drivers while assessing
historical financial trends and their potential impact upon the town’s financial stability. The forecast must
be monitored and updated during the budget formulation process, as well as reviewed with the Board of
Trustees as the budget is prepared. Staff will also continue to produce quarterly financial reports for the
Board that monitors and analyzes trends. The report serves as a valuable tool to assist in developing a
proactive, rather than reactive, approach to our changing financial trends.

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