The Akili Academy board announced that increases in per pupil spending, new teacher hires, and increased retirement spending will greatly impact next year’s budget, effective July 1.

The budget is expected to be $3.7 million, a $1.2 million increase from last year. This is expected to be the last time the Akili Academy board plans a budget for the school since Crescent City Schools is taking over the charter during the 2012-2013 school year. This issue is discussed in greater detail in The Lens’ coverage of the school’s June 25 board meeting.

The 2012-2013 budget hearing held Monday, June 25 at 6:30 p.m. was discussed as a line item in the monthly  board meeting agenda. No parents were in attendance.

Budgeted for 390 students, state-provided per-pupil funds are expected to be $3 million, up $500,000 from last year. Revenues from federal sources, No Child Left Behind (NCLB), special education funds, and donations are $650,000, flat when compared to last year’s budget.

The addition of a fifth grade class and the related hiring of new teachers as well as a hike in teacher benefits explain the 60 percent jump in expenses from last year.

Staff salaries and benefits make up 66 percent of the $3.7 million allocated expenditures. Salaries are budgeted at $2 million, an 80 percent increase, and benefits are budgeted at $440,000, a 100 percent increase over last year. The  statewide increase in required retirement spending accounts for this increase at Akili and at many other schools.

Other expenditures, from transportation to professional and technical services, are expected to increase slightly from last year.

The school expects no surplus in the 2012-2013 budget.