The board of directors for the International School of Louisiana announced a 113% increase for the anticipated 2012-2013 operating budget in relation to the acquisition of a charter for a school in Jefferson Parish and increased enrollment at its Camp and Olivier street campuses.
Next year’s operating budget is $14.6 million, up from last year’s budget of $6.8 million.
The board will hold a public hearing to discuss the budget on Tuesday, June 26 at 6 p.m. at its Camp Street campus.
In recent weeks, ISL has found difficulties attracting students to for next year at its yet-to-be-opened Jefferson Parish school and has cut enrollment growth expectations from 320 to 275. Similarly, plans to add extra classes to second and third grades at its Olivier Street Campus have been scaled back after recruited students failed the school’s language proficiency tests.
The school plans to enroll more kindergarten and first-grade pupils at its Olivier Street Campus to match a projected enrollment of 175, an increase of 103 students over last year.
The Camp Street campus will add 94 more students to its ranks, bringing total enrollment to 635 for next year.
Revenue from state-allocated per pupil funds, or MFP, which make up a bulk of the school’s revenues is $5.6 million at ISL’s Camp Street campus. That’s a $1.3 million increase from last year, or 83 percent of the total budget. The MFP funds at the Olivier Street campus amount to $1.6 million, twice last year’s amount.
Based on 309 student count, the expected state funding at the Jefferson Parish location is $2.9 million, but that figure is expected to decrease as final enrollment figures come in.
Federal revenues, including the No Child Left Behind (NCLB) funds and Title I funds, along with donations total $703,000 for the Camp Street school, $87,000 more than last year. Federal funds at the Olivier Street school are $622,000, up $115,000 from last year. The Jefferson Parish location will receive $275,000 in federal funds.
Total revenues for Camp Street are $6.9 million, up 28 percent from last year. Olivier Street revenues total $2.4 million, an 84 percent increase. Jefferson Parish revenues total $3.5 million.
In addition, the charter management organization will be allocated $1.9 million, 12 percent of the overall budget.
New staff hires, a statewide increase in teacher retirement spending, property insurance hikes related to the use of new modular buildings and increased legal expenses due to new contracts at the Jefferson Parish school will result in a 113 percent increase in spending from last year, totaling $14.6 million.
Expenses at the Camp Street building are $6.9 million, up $2.5 million from last year. Teacher salaries and benefits account for $4.3 million, 64 percent of all expenditures. Similarly, at the Olivier Street building, employee expenses total $1.2 million, half of that school’s budget. At the Jefferson Parish location, employee expenses are $1.6 million, just under half of total expenditures.
Other expenses, property and technical services, transportation and utilities, are slightly higher at both the Camp and Olivier Street campuses.
