Insight PA Cyber Charter School Financials June 2019 Board Meeting

This financial report outlines Insight PA Cyber Charter School's enrollment projections, funding sources, expenses, revenue forecast, and cash flow projection for June 2019. It includes data on student enrollment, funding, expenditures, and cash flow trends.

• Financial Report
• Charter School
• Enrollment Projections
• Fiscal Forecast
• Cash Flow

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1. Insight PA Cyber Charter School Insight PA Cyber Charter School June 2019 June 2019 Financials Financials Prepared for Prepared for August 27, 2019 August 27, 2019 Board Meeting Board Meeting

2. ISPA Enrollment Projections 12+0 Enrollment Case Total FY19 Forecast ACTUAL Sep-18 ACTUAL Dec-18 ACTUAL Mar-19 ACTUAL Apr-19 ACTUAL May-19 ACTUAL Jun-19 K5 MS HS 653 603 639 1,894 590 561 574 1,725 612 587 616 1,815 704 633 692 2,029 694 632 682 2,008 702 622 660 1,984 702 622 660 1,984 No Change in Average Daily Membership (ADM) versus prior Forecast (1894). 66 higher Average Daily Membership (ADM) versus Approved Budget (1828). Currently billing for a 19.5% Special Ed population. Forecast at 19.5%.

3. Financial Summary Financial Summary Full Year Forecast Full Year Forecast Variance Current v. Prior Forecast /Inc(Dec) - - - - Variance Current v. Budget Inc./(Dec) (13) 22 56 66 Full Year Budget 665 653 653 581 603 603 582 639 639 1,828 1,894 1,894 Prior Forecast Current Forecast % Variance to Budget % Variance to Prior K-8 Ending Enrollment MS Ending Enrollment HS Ending Enrollment Total Ending Enrollment -1.9% 3.9% 9.7% 3.6% 0.0% 0.0% 0.0% 0.0% FUNDING SOURCES: Total Funding 22,233,022 $ 24,666,124 $ 25,882,239 $ 3,649,216 $ 16.4% 1,216,114 $ 4.9% INSTRUCTION 205,909 (402,581) 64,505 (132,166) $ 148,814 25,139 (106,958) 66,995 $ Total Teachers Related Expenses Total Students Related Expenses Total Student and Family Services Total Instruction 6,543,327 $ 7,678,443 575,737 14,797,507 $ 6,600,423 $ 7,250,724 747,199 14,598,346 $ 6,749,237 $ 7,275,863 640,242 14,665,341 $ 3.1% -5.2% 11.2% -0.9% 2.3% 0.3% -14.3% 0.5% SUPPORT SERVICES Total Admin & Governance Total Technology Total Insurance/Facilities/Ops Total Support Services 48,536 51,663 (58,618) 41,581 $ 9,727 (0) 1,500 11,226 $ 5,590,765 $ 1,010,235 570,166 7,171,166 $ 5,629,575 $ 1,061,898 510,048 7,201,521 $ 5,639,302 $ 1,061,898 511,548 7,212,747 $ 0.9% 5.1% -10.3% 0.6% 0.2% 0.0% 0.3% 0.2% Total School Expenditures This Period 21,968,673 $ 21,799,867 $ 21,878,088 $ $ (90,585) -0.4% $ 78,221 0.4% Increase/(Decrease) to Fund Balance $ 264,349 2,866,257 $ 4,004,150 $ 3,739,801 $ 1414.7% 1,137,893 $ 39.7% Revenue: Current Forecast $25.88M, 16.4% higher than Budget due to increased enrollment and higher SE%. Current funding rate assumption based on PDE posted rate and current mix of students districts. Expenses: Forecast $21.88M, 0.4% lower due primarily due to lower student ISP expense and elimination of teacher bonus. Surplus: Projected YE: $4.00M

4. Cash Flow Projection Cash Flow Projection Actual Jul 18 Actual 18-Aug Actual 18-Sep Actual 18-Oct Actual 18-Nov Actual 18-Dec Actual 19-Jan Actual 19-Feb Actual 19-Mar Actual 19-Apr Actual 19-May Actual 19-Jun Beginning cash balance 2,659,610 $ 2,540,284 $ 2,324,531 $ 2,450,372 $ 2,627,122 $ 4,532,091 $ 3,070,639 $ 4,213,541 $ 4,852,368 $ 5,287,707 $ 5,690,768 $ 6,145,466 $ Cash Received Tuition Deposits Other Funding - Cash Advance Total Funding Received 1,037,453 919,905 1,674,488 1,939,610 2,582,261 1,609,096 2,936,540 2,354,518 2,412,549 2,515,108 2,392,345 1,665,558 1,037,453 $ 919,905 $ 1,674,488 $ 1,939,610 $ 2,582,261 $ 1,609,096 $ 2,936,540 $ 2,354,518 $ 2,412,549 $ 2,515,108 $ 2,392,345 $ 1,665,558 $ Payments - non K12 - Payroll - Psers Employer Funding - Rent - Other Payments - K12 Total Disbursements $ (168,683) (220,898) $ (298,516) $ (308,279) $ (137,339) (27,025) (118,629) (1,171,587) (1,762,860) $ (330,276) $ (353,545) $ (124,655) (26,476) (255,625) (2,310,247) (3,070,548) $ $ (293,810) $ (399,192) (436,150) $ (149,367) (27,518) (231,461) (1,132,714) (1,977,211) $ (459,527) $ (480,673) $ (515,064) $ (149,228) (27,518) (364,483) (1,381,576) (2,437,869) $ (25,699) (131,101) (831,296) (1,156,779) $ (25,699) (89,472) (799,588) (1,135,658) $ (26,318) (103,145) (1,120,668) (1,548,647) $ (26,476) (320,540) (26,476) (321,993) (1,151,360) (1,793,639) $ (26,476) (263,978) (1,026,045) (1,715,691) $ (27,518) (284,820) (1,340,182) (2,112,047) $ (27,518) (212,362) (1,217,093) (1,937,646) $ (677,292) $ Ending cash balance 2,540,284 $ 2,324,531 $ 2,450,372 $ 2,627,122 $ 4,532,091 $ 3,070,639 $ 4,213,541 $ 4,852,368 $ 5,287,707 $ 5,690,768 $ 6,145,466 $ 5,373,155 $ Net Cash per Month $ (119,326) (215,753) $ $ 125,841 $ 176,750 1,904,969 $ (1,461,452) $ 1,142,902 $ $ 638,827 $ 435,339 $ 403,061 $ 454,699 (772,311) $ Days Cash on Hand 71.5 86.0 81.3 82.0 96.5 67.0 Goal: Maintain 2-3 months of working capital at all times, $4M to $5M Days Cash on Hand = current month ending cash/total disbursements

5. Disbursements Disbursements June 2019 June 2019 Date 6/18/2019 6/25/2019 6/17/2019 6/17/2019 6/25/2019 6/4/2019 6/21/2019 6/17/2019 6/27/2019 6/12/2019 6/12/2019 6/12/2019 6/4/2019 6/12/2019 6/17/2019 6/25/2019 6/25/2019 6/4/2019 6/4/2019 6/27/2019 6/12/2019 6/17/2019 6/12/2019 6/17/2019 6/4/2019 6/25/2019 6/12/2019 6/12/2019 6/25/2019 6/12/2019 6/27/2019 6/27/2019 6/4/2019 6/4/2019 6/12/2019 6/25/2019 6/17/2019 6/27/2019 6/25/2019 6/17/2019 6/27/2019 6/25/2019 6/21/2019 6/4/2019 Vendor 2--K12 MANAGEMENT 693--TRIDENT RISK ADVISORS, LLC 570--Independence Blue Cross 1--SBH ASSOCIATES, L.P. 22--THERAPY SOURCE 60--TD BANK, N.A 21--GLOBAL TELETHERAPY 31--DEVON HEALTHCARE GROUP 22--THERAPY SOURCE 21--GLOBAL TELETHERAPY 31--DEVON HEALTHCARE GROUP 170--PSERS 594--SUPPORT BRANDS LLC 48--LEARNING A-Z, LLC 20--COMM-CORE 1--SBH ASSOCIATES, L.P. 583--METLIFE SMALL BUSINESS CENTER 31--DEVON HEALTHCARE GROUP 583--METLIFE SMALL BUSINESS CENTER 584--Zoom Video Communications Inc. 1--SBH ASSOCIATES, L.P. 22--THERAPY SOURCE 3--VIRTUAL TECHNOLOGIES GROUP 548--CENTURY LINK 597--American United Life Insurance Company 11276 597--American United Life Insurance Company 11382 664--OFFICETEAM 51--PEOPLE SHARE LLC 51--PEOPLE SHARE LLC 22--THERAPY SOURCE 100--KIM KOHLER 51--PEOPLE SHARE LLC 3--VIRTUAL TECHNOLOGIES GROUP 51--PEOPLE SHARE LLC 34--KIM SPURGEON 142--Natalee Kluchurosky 51--PEOPLE SHARE LLC 152--The Horsham Clinic 119--CONRAD O'BRIEN PC 679--Matthew Breiner 3--VIRTUAL TECHNOLOGIES GROUP 31--DEVON HEALTHCARE GROUP 686--PHILHAVEN 664--OFFICETEAM Document No ACH 061819 11423 11352 11366 11420 ACH 060419 11372 11350 11442 11315 11313 11330 11301 11323 11347 11417 11405 11285 11291 11444 11333 11369 11341 11346 Amount 1,381,575.63 72,248.40 67,168.17 27,518.13 24,495.43 23,989.90 15,561.90 15,486.25 14,917.00 14,121.59 13,365.19 10,857.69 6,917.27 6,546.55 6,460.84 3,538.70 3,432.57 3,383.42 3,248.84 3,201.37 3,168.60 3,118.22 2,257.16 2,245.15 2,153.19 2,153.19 2,033.06 1,794.44 1,771.28 1,764.00 1,750.94 1,724.98 1,567.15 1,562.90 1,534.35 1,435.11 1,389.24 1,305.00 1,254.00 1,248.24 1,213.58 1,211.23 1,206.25 1,104.92 Date 6/17/2019 6/25/2019 6/17/2019 6/25/2019 6/27/2019 6/27/2019 6/4/2019 6/25/2019 6/12/2019 6/27/2019 6/17/2019 6/4/2019 6/4/2019 6/27/2019 6/27/2019 6/21/2019 6/25/2019 6/21/2019 6/27/2019 6/4/2019 6/12/2019 6/12/2019 6/17/2019 6/17/2019 6/25/2019 6/25/2019 6/12/2019 6/21/2019 6/12/2019 6/12/2019 6/4/2019 6/12/2019 6/17/2019 6/27/2019 6/12/2019 6/17/2019 6/25/2019 6/12/2019 6/25/2019 6/4/2019 6/12/2019 6/25/2019 6/12/2019 6/25/2019 Vendor 664--OFFICETEAM 691--JULIE ROTHBARD 134--JESSICA WRIGHT 664--OFFICETEAM 664--OFFICETEAM 600--PenServ Plan Services, Inc. 110--REUBEN LACY 15--VERIZON WIRELESS 100--KIM KOHLER 88--MARQUISE HARGROVE 681--Marco Labricciosa 4--STAPLES ADVANTAGE 558--Nippon Life Insurance Co of America 558--Nippon Life Insurance Co of America 155--CHELSEA N VARNADO 685--UCHE ONYEARDOR 154--LAUREN LOVE 83--SUZANNE G VUKSAN 695--COURTLAND HANDY 52--PURCHASE POWER 604--Tara Stine 676--TRACY MCDONALD 599--REBECCA STETSER 116--RANDY JOHNSON 598--Transamerica Employee Benefits 118--CHRISTINA DAVIS 673--JAMIE DEIMLING 157--AMANDA C COPULOS 103--TIA GAINES 140--Tricia Kovall 648--BETH WINKOWSKI 674--JESSICA CURTIS 678--Lucas VanEmburg 696--KASEY KREIDER 62--HILTON GARDEN INN WILKES BARRRE 21--GLOBAL TELETHERAPY 128--BARRY KING 89--DANIELLE DARMO 149--VALERIE L MANSBERGER 149--VALERIE L MANSBERGER 129--JENNIFER RUSSELL 599--REBECCA STETSER 666--MEGAN OWAD 88--MARQUISE HARGROVE Document No 11362 11395 11354 11410 11437 11438 11299 11425 11321 11435 11359 11300 11294 11436 11428 11380 11398 11379 11429 11298 11336 11339 11365 11364 11422 11389 11317 11370 11338 11340 11278 11320 11358 11432 11316 11351 11383 11311 11424 11303 11318 11414 11325 11402 Amount 1,104.92 1,098.56 1,090.86 1,087.50 1,087.50 1,051.38 997.74 955.95 917.24 908.58 873.99 832.19 829.41 826.07 790.22 778.97 751.01 742.87 721.63 715.95 693.96 690.74 684.75 681.50 680.68 661.16 656.56 644.59 633.31 626.95 592.23 563.14 553.68 544.38 525.00 508.75 467.32 465.55 465.02 440.81 434.70 428.55 420.06 417.51 11328 11329 11411 11337 11433 11439 11304 11297 11322 11407 11363 11441 11391 11360 11443 11393 11377 11295

6. Disbursements Disbursements June 2019 June 2019 Date 6/12/2019 6/17/2019 6/4/2019 6/25/2019 6/12/2019 6/12/2019 6/27/2019 6/12/2019 6/4/2019 6/4/2019 6/4/2019 6/12/2019 6/21/2019 6/17/2019 6/4/2019 6/4/2019 6/17/2019 6/12/2019 6/25/2019 6/4/2019 6/25/2019 6/25/2019 6/4/2019 6/21/2019 6/25/2019 6/17/2019 6/4/2019 6/12/2019 6/12/2019 6/27/2019 6/4/2019 6/25/2019 6/17/2019 6/12/2019 6/25/2019 6/12/2019 6/25/2019 6/21/2019 6/17/2019 6/4/2019 6/12/2019 6/25/2019 6/4/2019 Vendor 677--DESIREE ROBERTS 139--SYIEDA GRAHAM-LOGAN 662--NICOLE MANLEY 21--GLOBAL TELETHERAPY 544--JENNIFFER M ARNOLD 32--NANCY SHIFFLETT 116--RANDY JOHNSON 4--STAPLES ADVANTAGE 658--BLOOMSBURG UNIVERSITY OF PENNSYLVANIA 85--MELISSA WHITE 43--EILEEN CANNISTRACI 652--DANIEL DOAN 679--Matthew Breiner 85--MELISSA WHITE 38--CHRISTIAN GLENNON 119--CONRAD O'BRIEN PC 544--JENNIFFER M ARNOLD 93--CAROLYN WHALEN 686--PHILHAVEN 596--AMY BROWN 688--KATHLEEN TURKELSON 694--BELMONT BEHAVIORAL HOSPITAL, LLC 107--BRAYDEN CRESSMAN 36--MEGAN BOGART 594--SUPPORT BRANDS LLC 635--DE LAGE LANDEN FINANCIAL SERVICES 150--AITHEN J WESLEYAN 675--SEVIEN SMITH 19--BCN TELECOM INC. 37--LAUREN ARDIFF 106--LISA BERGER 677--DESIREE ROBERTS 137--DEANNA WILHELM 136--CHRISTINA JOHNSON 620--Benjamin Leskovansky 102--CARLY TETKOSKI 96--SAMARA OLIPHANT 682--JENNIFER WEIMER 545--AMANDA L THOMAS 5--JACLYN A SNYDER 8--LISA ELLER 103--TIA GAINES 30--CORINNE MCGOURNEY Document No 11312 11368 11293 11394 11319 11327 11440 11335 11279 11290 11286 11310 11375 11361 11282 11283 11353 11308 11412 11277 11396 11384 11280 11376 11419 11348 11275 11334 11306 11434 11288 11392 11349 11309 11385 11307 11416 11373 11342 11287 11324 11421 11284 Amount 414.69 403.65 398.81 389.88 380.83 376.85 372.22 370.48 360.00 344.56 326.74 324.10 319.79 319.56 319.53 304.00 300.00 289.76 275.00 272.71 271.67 270.00 263.01 261.99 260.00 254.00 251.49 251.45 250.56 250.00 239.30 235.52 231.63 228.11 227.21 200.00 195.72 194.88 191.35 188.14 187.89 185.63 184.68 Date 6/12/2019 6/4/2019 6/27/2019 6/21/2019 6/25/2019 6/25/2019 6/25/2019 6/4/2019 6/25/2019 6/12/2019 6/25/2019 6/25/2019 6/17/2019 6/25/2019 6/4/2019 6/4/2019 6/25/2019 6/12/2019 6/12/2019 6/25/2019 6/17/2019 6/4/2019 6/25/2019 6/25/2019 6/25/2019 6/17/2019 6/25/2019 6/27/2019 6/21/2019 6/25/2019 6/12/2019 6/25/2019 6/25/2019 6/25/2019 6/27/2019 6/17/2019 6/25/2019 6/17/2019 6/17/2019 6/17/2019 6/21/2019 Vendor 91--ALLISON SNYDER 565--CASSANDRA GERY 93--CAROLYN WHALEN 683--SHALANA COLEMAN 153--LEAH HANEY 4--STAPLES ADVANTAGE 6--BOBBI JO E LUNDY 87--TRACY HOCKENBERRY 84--Wendy Smith 85--MELISSA WHITE 136--CHRISTINA JOHNSON 689--CATHY MCQUILLAN 54--ANNE HOPKINS 692--NICOLE BASKWILL 148--PAMELA L WALTZ 32--NANCY SHIFFLETT 687--NADINE MICHALAK 654--SANDI WRIGLEY 158--E-Therapy LLC 106--LISA BERGER 566--LANGUAGE LINE SERVICES 672--MEGAN MILLER 33--NICHOL LASKEY 659--AMANDA WEBER 110--REUBEN LACY 37--LAUREN ARDIFF 672--MEGAN MILLER 563--INFINISOURCE BENEFIT SERVICES 30--CORINNE MCGOURNEY 107--BRAYDEN CRESSMAN 653--RACHAEL LATORE 660--KATRINA CHAPMAN 86--MEGAN BOYER 653--RACHAEL LATORE 632--Erin Harper 646--KRISTEN SEPTAK 101--MARLOWE DOMAN 648--BETH WINKOWSKI 596--AMY BROWN 4--STAPLES ADVANTAGE 684--LISA MAYS Total for ISPA Checking 6682 Document No 11305 11281 11427 11378 11399 11418 11386 11302 11426 11326 11390 11388 11344 11409 11296 11292 11406 11332 11314 11400 11356 11289 11408 11381 11415 11357 11404 11431 11371 11387 11331 11397 11403 11413 11430 11355 11401 11345 11343 11367 11374 Amount 184.37 182.33 182.14 180.78 177.56 176.83 175.31 173.62 168.32 164.58 160.08 150.00 148.18 147.11 140.81 138.74 135.00 130.62 120.00 111.83 107.04 100.00 100.00 91.17 88.56 87.53 81.90 80.75 80.00 74.06 63.52 50.00 50.00 50.00 50.00 46.22 45.40 44.40 35.10 35.00 17.49 1,808,308.20

7. K12 Invoice Aging K12 Invoice Aging Recommended Payment 86,400.00 $ 4,800.00 $ 415,879.00 $ 110,250.19 $ 114,015.75 $ 325,503.40 $ 107,066.50 $ 10,878.00 $ 4,800.00 $ (46,080.00) $ Bill GL Posting Date 1-30 31-60 61-90 91- Total 200051731 Annual CTE 200051950 Teacher Co 200051920 M&T 200051969 Misc Charg 200052058 COMP 200052057 OLS 200052059 Mat 200052060 IST 200052061 Teacher Co 200052092 Annual CTE 200052182 M&T 200052210 Misc Charg 200052242 Mat 200052243 COMP 200052214 M&T 200052245 OLS 200052288 IST 200052364 Misc Charg 200052330 Other Serv 3/15/2019 5/10/2019 5/15/2019 5/15/2019 5/15/2019 5/15/2019 5/15/2019 5/17/2019 5/24/2019 6/4/2019 6/10/2019 6/15/2019 6/15/2019 6/15/2019 6/18/2019 6/19/2019 6/19/2019 6/21/2019 6/21/2019 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 86,400.00 86,400.00 4,800.00 415,879.00 110,250.19 114,015.75 325,503.40 107,066.50 10,878.00 4,800.00 -46,080.00 414,449.00 117,546.46 52,577.00 109,705.10 6,359.00 371,074.00 10,626.00 139,568.87 12,084.00 2,367,502.27 4,800.00 415,879.00 110,250.19 114,015.75 325,503.40 107,066.50 10,878.00 4,800.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -46,080.00 414,449.00 117,546.46 52,577.00 109,705.10 6,359.00 371,074.00 10,626.00 139,568.87 12,084.00 1,187,909.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,093,192.84 86,400.00 Total Payments for Board Approval $ 1,133,512.84

8. Top 10 AR Balances Top 10 AR Balances As of 2018 2018- -2019 2019 Balances Balances As of 6 6- -30 30- -19 19 Amounts Due Amounts Paid District Regular Ed 3,720,312.52 165,264.39 346,800.07 229,905.19 522,094.89 216,879.87 88,571.26 139,698.98 44,627.90 57,038.84 Special Ed 2,206,651.50 414,531.81 249,012.16 131,555.45 356,831.01 71,414.31 104,514.31 113,989.33 74,048.50 28,017.70 Total Due 5,926,964.02 579,796.20 595,812.23 361,460.64 878,925.90 288,294.18 193,085.57 253,688.31 118,676.40 85,056.54 District 4,617,372.12 306,408.85 516,434.02 286,475.67 UniPay Refunds Total Paid 4,617,372.12 306,408.85 516,434.02 286,475.67 814,523.06 226,100.55 136,482.07 206,633.60 74,872.29 44,689.20 Net Due 1,309,591.90 273,387.35 79,378.21 74,984.97 64,402.84 62,193.63 56,603.50 47,054.71 43,804.11 40,367.34 Philadelphia City SD Chester-Upland SD Allentown City SD Harrisburg City SD Pittsburgh SD Lancaster SD Southeast Delco SD Bethlehem Area SD Bensalem Township SD Steelton-Highspire SD .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 814,523.06 160,390.63 65,709.92 136,482.07 206,633.60 74,872.29 44,689.20 .00 .00 .00 .00 Total Top 10 2,051,768.56 1,179,069.94 3,230,838.50 Other Receivables Total Accts Receivable Top 10 % 64% 2017-18 reconciliation process is complete. Balance as of 7-31 was $2,316,061. See July slides.

9. Federal Funds Federal Funds Expenses Incurred 17-18 and YTD $ % FY17-18 Award FY18-19 Award Remaining Remaining Spend Fund Description Spend Title I Title II Title IV IDEA At risk and under served Students Professional Development (PD) Student Support and Academic Enrichment Special Needs Students 135,875 $ 16,745 $ $ $ 607,524 $ 64,105 $ 10,000 $ 76,969 $ $ $ $ $ 433,123 38,481 6,000 68,575 310,276 $ 42,369 $ $ $ 42% 52% 40% 11% - - 4,000 8,394 Total 152,620 $ 758,598 $ $ 546,179 365,039 $ 40% 15% of award carryover to following year allowable Title year spend expires September 30, 2019 Projecting to spend to carry over window

10. Personnel Personnel Employee Totals- June 30, 2019 Insight Employees The following changes to staff occurred since May 31, 2019 as of June 30, 2019. 96 K12 Employees 49 Hired - 2: Total 145 Fam. Eng. Coord 1 (K12) HS Advisor 1 (K12) Employee Type Teacher Breakdown incl. Specialists 66 Elementary (K-6) Secondary (7-11) 31 53 Teachers General Ed Teachers Special Ed 23 4 Separations 1: Guidance Counselors Specials Classes 5 3 School Administration 29 K12 Student Support Services 20 K12 Administrative Services

11. Financial Summary Financial Summary June 2019 YTD Variance Current v. Budget Inc./(Dec) K-8 Ending Enrollment 789 702 (87) MS Ending Enrollment 677 622 (55) HS Ending Enrollment 639 660 21 Total Ending Enrollment 2,105 1,984 (121) June 2019 YTD (Appendix) (Appendix) Year to Date Budget Year-to-date Actual % Variance to Budget -11.0% -8.2% 3.3% -5.8% FUNDING SOURCES: Total Funding 22,233,022 $ 25,882,239 $ 3,649,216 $ 16.4% INSTRUCTION 205,909 Total Teachers Related Expenses Total Students Related Expenses Total Student and Family Services Total Instruction 6,543,327 $ 7,678,443 575,737 14,797,507 $ 6,749,237 $ 7,275,863 (402,581) 640,242 64,505 14,665,341 $ 3.1% -5.2% 11.2% -0.9% $ (132,166) SUPPORT SERVICES Total Admin & Governance Total Technology Total Insurance/Facilities/Ops Total Support Services 48,536 51,663 5,590,765 $ 1,010,235 570,166 7,171,166 $ 5,639,302 $ 1,061,898 511,548 (58,618) 7,212,747 $ 0.9% 5.1% -10.3% 0.6% $ 41,581 Total School Expenditures This Period 21,968,673 $ 21,878,088 $ $ (90,585) -0.4% Increase/(Decrease) to Fund Balance $ 264,349 4,004,150 $ 3,739,801 $ na Revenue: YTD: Accrued $25.88M, 16.4% higher than Budget due to increased SE% funding. Current funding rate assumption based on PDE posted rate and current mix of students districts. Expenses: YTD: $121.88M, was almost at budget being 0.4% lower primarily due to lower student ISP expense and teacher bonus expense. Surplus: YTD: $4.00M

12. Balance Sheet As of Balance Sheet As of June 30, 2019 June 30, 2019 - - (Appendix) (Appendix) Change in Balance From Prev. Month Assets Total Cash Total Fixed Assets Total Other Current Assets Total Assets Final Ending 06/30/2018 Year To Date 05/31/2019 Year To Date 6/30/2019 Actual Actual Actual 2,659,611 87,653 882,109 3,629,373 6,145,466 143,949 2,049,157 8,338,572 5,373,154 141,508 3,761,348 9,276,010 (772,311) (2,441) 1,712,191 937,438 Liabilities and Equity Liabilities Total Accounts Payable Total Other Current Liabilities Total Liabilities 0 2,561,168 2,292,525 4,853,693 0 (2,561,168) 191,587 20,571 872,791 3,231,776 2,484,112 4,874,264 Equity Total Equity 397,596 3,484,879 4,401,747 916,867 Total Liabilities and Equity 3,629,373 8,338,572 9,276,010 937,438 Cash decreased due to lower receipts from school districts. For full Balance Sheet, see supporting spreadsheet shared with the Board