Despite $5.7 million less in federal funding, the Algiers Charter School Association forecasts a budget surplus for the 2012-13 school year, in contrast to its $1.3 million budget deficit in 2011-12.
Most of the decline in federal revenues stems from diminished Title 1 funding and an expired Teacher Incentive Grant. State and local funding increases of $2.7 million offset nearly half of the lost income from federal sources.
To compensate for the drop in revenues, ACSA will cut teacher and staff salaries to $25.3 million— $3.3 million less than in 2011-12. Spending on supplies will drop by over half a million dollars, a twenty percent decline from last year. Meanwhile, teacher and staff benefits will rise only two percent, to an estimated $9.1 million.
Overall, ACSA’s prospective budget for its eight schools shows $53 million in total revenues against $52.3 million in expenses. Compared to last year, that’s $3 million less in revenue and $5 million less in expenditures.
The relatively modest $713,000 projected surplus for 2012-13 contrasts favorably with ACSA’s $1.3 million budget deficit in 2011-12.
Budgeted revenues are based on a projected enrollment of 5,562 students. That number includes 140 preschoolers who do not receive state per-pupil funds.
The ACSA will receive $4.4 million to operate its central office this year, well under the ten percent of per-pupil funds maximum allowed by the charter’s bylaws.
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