Innovations Academy Board Meeting: August 23, 6:00 pm

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1 Innvatins Academy Bard Meeting: August 23, 6:00 pm Meeting lcatin(s) Innvatins Academy Spring Canyn Rad San Dieg, CA McMillan Street Oakland, CA Public call in number * Access cde * Members f the public need nt state their names when entering the cnference call. Call-in number is prvided as a cnvenience t the public. Bard Attendance Nathan Stephen Cper Rsen Danielle Strachman Tny Spitzberg Others in Attendance Christine Delan Jnes Kuglen Agenda Tpic Call t rder / rll call Apprval f current agenda Vte: Minutes Apprval f prir mnth meeting minutes Vte: Public cmments (3 mins per persn) Reprts Teacher briefing (Tny) Discussin: Financial update (Delan) SDUSD site visit Directr update (Christine) Full time capacity/enrllment Part time capacity/enrllment LCAP implementatin Schl relcatin Actin items Annual directr evaluatin (cnfirm milestnes met; POL frmat?) P-3 Attendance reprts due t district (fr prir fiscal year) Apprve Unaudited Actuals Annual directr evaluatin (set upcming schl year milestnes) Apprve upcming schl year emplyee and parent handbks Item Directr Update Discussin: Item Annual directr evaluatin Discussin: Vte: Item P-3 Attendance reprts due t district (fr prir fiscal year) Discussin: Vte: Item Apprve Unaudited Actuals Discussin: Vte: Annual directr evaluatin (set upcming schl year milestnes)

2 Tpic Discussin: Minutes Vte: Apprve upcming schl year emplyee and parent handbks Discussin: Vte: Discussin items IA Bard recruitment (All) Schedule fr Bard meetings (All) Item Discussin: Assign new actin/discussin items Next bard meeting Cnfirm date f next meeting Identify agenda items fr next meeting Meeting adjurned at The freging minutes were apprved by the Bard f Directrs f Innvatins Academy n. Secretary

3 Please cntact Innvatins Academy Bard@InnvatinsAcademy.rg if yu require special assistance r a listening device t attend the Bard Meeting. Requests must be made 48 hurs in advance. 1. TELECONFERENCE MEETINGS. Members f the Bard f Directrs ma y participate in telecnference meetings s lng as all f the fllwing requirements in t he Brwn Act are cmplied with: At a minimum, a qurum f the members f the Bard f Directrs shall participate in the telecnference meeting frm lcatins within the bundaries f the State f Califrnia; All vtes taken during a telecnference meeting shall be by rll call; If the Bard f Directrs elects t use telecnferencing, it shall pst agend as at all telecnference lcatins with each telecnference lcatin being identified in the ntice and agenda f the meeting; All lcatins where a member f the Bard f Directrs cnstituting the qurum participates in a meeting via telecnference must be fully accessible t members f the public and shall be listed n the agenda; Members f the public must be able t hear what is said during the meeting and shall be prvided with an pprtunity t address the Bard f Directrs directly at each telecnference lcatin; and The agenda shall indicate that members f the public attending a meeting cnducted via telecnference need nt give their name when entering the cnference call. The Brwn Act prhibits requiring members f the public, t prvide their names as a cnditin f attendance at the meeting; hwever, thse wishing t speak may be required t identify themselves.

4 Innvatins Academy Bard Meeting: June 21, 6:00 pm Meeting lcatin(s) Innvatins Academy Spring Canyn Rad San Dieg, CA McMillan Street Oakland, CA Public call in number * Access cde * Members f the public need nt state their names when entering the cnference call. Call-in number is prvided as a cnvenience t the public. Bard Attendance Nathan Stephen Cper Rsen Danielle Strachman Tny Spitzberg Others in Attendance Christine Delan Jnes Kuglen Agenda Tpic Call t rder / rll call Apprval f current agenda Minutes Vte: Apprved unanimusly. Apprval f prir mnth meeting minutes Vte: Apprved unanimusly. Public cmments (3 mins per persn) Reprts Teacher briefing (Tny) Discussin: Hired several new teachers. Teachers attending varius summer prfessinal develpment Actin items Financial update (Delan) SDUSD site visit Directr update (Christine) Full time capacity/enrllment Part time capacity/enrllment LCAP implementatin Schl relcatin Apprve the LCAP Educatr Effectiveness Expenditure Plan Apprve Wrking Budget fr next fiscal year Apprve EPA reslutin pprtunities. Delan says we are well under ur budget by $163,000. Overall, nthing t highlight r pint ut as far as anything cncerning. As the year clses we will have the final cmpnent f the audit. We are stacking net incme tward the mve. SDUSD site visit: Delan says they wanted a cpy f ur fiscal plicy, s he sent it. There were n significant findings. Item Directr Update Discussin: Christine absent. Item Apprve the LCAP Discussin: Delan explains that the LCAP aligns well with budget. Vte: Apprved unanimusly.

5 Tpic Apprve Cnslidated App Part I-Due June 30, 2016 Minutes Item Educatr Effectiveness Expenditure Plan Discussin: Delan explained the plan. Vte: Apprved unanimusly. Item Apprve Wrking Budget fr next fiscal year Discussin: Nt many changes t the budget. Vte: Apprved unanimusly. Item Apprve EPA reslutin Discussin: Delan explained meaning f the EPA. Vte: Apprved unanimusly. Item Apprve Cnslidated App Part I-Due June 30, 2016 Discussin: Delan explained the three revenue streams. Vte: Apprved unanimusly. Discussin items IA Bard recruitment (All) Schedule fr Bard meetings (All) Item IA Bard recruitment: N Discussin. Item Schedule fr Bard meetings Discussin: Delan needs apprval f new schedule befre Sept. 15 th. Delan t put tgether ne page dcument that shws mnths when items are mandatry s that new schedule can be adjusted accrdingly. Delan suggests quarterly meetings. Assign new actin/discussin items Apprve meeting minutes fr April & June Next bard meeting Cnfirm date f next meeting August 23 rd. Identify agenda items fr next meeting Meeting adjurned at 7:08pm. The freging minutes were apprved by the Bard f Directrs f Innvatins Academy n. Secretary

6 Please cntact Innvatins Academy Bard@InnvatinsAcademy.rg if yu require special assistance r a listening device t attend the Bard Meeting. Requests must be made 48 hurs in advance. 1. TELECONFERENCE MEETINGS. Members f the Bard f Directrs may participate in telecnference meetings s lng as all f the fllwing requirements in t he Brwn Act are cmplied with: At a minimum, a qurum f the members f the Bard f Directrs shall participate in the telecnference meeting frm lcatins within the bundaries f the State f Califrnia; All vtes taken during a telecnference meeting shall be by rll call; If the Bard f Directrs elects t use telecnferencing, it shall ps t agendas at all telecnference lcatins with each telecnference lcatin being identified in the ntice and agenda f the meeting; All lcatins where a member f the Bard f Directrs cnstituting the qurum participates in a meeting via telecnference must be fully accessible t members f the public and shall be listed n the agenda; Members f the public must be able t hear what is said during the meeting and shall be prvided with an pprtunity t address the Bard f Directrs directly at each telecnference lcatin; and The agenda shall indicate that members f the public attending a meeting cnducted via telecnference need nt give their name when entering the cnference call. The Brwn Act prhibits requiring members f the public, t prvide their names as a cnditin f attendance at the meeting; hwever, thse wishing t speak may be required t identify themselves.

7 INNOVATIONS ACADEMY Unaudited Actuals Narrative The Unaudited Actuals is a mandated financial reprt t be submitted by September15 f each year t the spnsring District, Cunty Office f Educatin (SDCOE), and Califrnia Department f Educatin (CDE). INNOVATIONS ACADEMY will submit the Unaudited Actuals Reprt t the district n r befre September15, The reprt frmat shws unrestricted and restricted actuals and ttal actuals. ADA P-2 The Secnd Principal Apprtinment (P-2), certified by July 2 f the fllwing year, is based n the secnd perid data that the charter reprts t CDE in April and May and is the final state aid payment fr the fiscal year ending in June Unaudited Actuals Reprt Ttal Actual Revenues f $3,199,419 versus budgeted revenues f $3,097,942 fr a psitive variance f $101,477. Certificated salaries f $1,168,544 versus budget f $1,197,725 and Classified salaries $537,744 versus budget f $574,833 Ttal Benefits Actuals f $427,612 versus budget f $446,715 Materials and Supplies actuals f $85,533 versus budget f $105,300 Services and ther perating expenditures actuals f $523,516 versus budget f $562,318 fr a psitive variance f $38,802. Ttal Expenses f $2,764,800 versus budgeted expenditures f $2,922,554. The Unaudited Actuals reflects psitive net-incme f $434,618 versus a budgeted year-end ttal net-incme f $175,388. The Ending Fund Balance (EFB) at June 30, 2016 is $1,743,657.

8 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 CHARTER SCHOOL CERTIFICATION Charter Schl Name: Innvatins Academy CDS #: Charter Apprving Entity: San Dieg Unified Cunty: San Dieg Charter #: 1024 NOTE: An Alternative Frm submitted t the Califrnia Department f Educatin will nt be cnsidered a valid submissin if the fllwing infrmatin is missing: Fr infrmatin regarding this reprt, please cntact: Fr Cunty Fiscal Cntact: Fr Apprving Entity: Fr Charter Schl: Zandy Macasinag Anna Day Delan Jnes Name Name Name Financial Accunting and Data Supprt Senir Financial Accuntant Business Manger Title Title Title Telephne Telephne Telephne alexandre.macasinag@sdce.net aday1@sandi.net djnes@csmci.cm address address address T the entity that apprved the charter schl: ( X ) CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM: This reprt has been apprved, and is hereby filed by the charter schl pursuant t Educatin Cde Sectin 42100(b). Signed: Date: Charter Schl Official (Original signature required) Printed Name: Title: T the Cunty Superintendent f Schls: ( X ) CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM: This reprt is hereby filed with the Cunty Superintendent pursuant t Educatin Cde Sectin 42100(a). Signed: Date: Authrized Representative f Charter Apprving Entity (Original signature required) Printed Name: Title: T the Superintendent f Public Instructin: ( X ) CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM: This reprt has been verified fr mathematical accuracy by the Cunty Superintendent f Schls pursuant t Educatin Cde Sectin 42100(a). Signed: Date: Cunty Superintendent/Designee (Original signature required) Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 05/23/15) vs 1.5 Page 1 f 7 8/18/ :59 AM

9 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: Innvatins Academy CDS #: Charter Apprving Entity: Cunty: San Dieg Unified San Dieg 1024 Charter #: This charter schl uses the fllwing basis f accunting: (Please enter an "X" in the applicable bx belw; check nly ne bx) X Accrual Basis (Applicable Capital Assets/Interest n Lng-Term Debt/Lng-Term Liabilities/Net Psitin bjects are 6900, 7438, , , 9796, and 9797) Mdified Accrual Basis (Applicable Capital Outlay/Debt Service/Fund Balance bjects are , , 7438, 7439, and ) Descriptin Object Cde Unrestricted Restricted Ttal A. REVENUES 1. LCFF Surces State Aid - Current Year , , Educatin Prtectin Accunt State Aid - Current Year , , State Aid - Prir Years 8019 (27,028.00) (27,028.00) Transfers t Charter Schls in Lieu f Prperty Taxes ,729, ,729, Other LCFF Transfers 8091, Ttal, LCFF Surces 2,586, ,586, Federal Revenues (see NOTE in Sectin L) N Child Left Behind , , Special Educatin - Federal 8181, , , Child Nutritin - Federal Dnated Fd Cmmdities Other Federal Revenues 8110, Ttal, Federal Revenues , , Other State Revenues Special Educatin - State StateRevSE 240, , All Other State Revenues StateRevAO 232, , , Ttal, Other State Revenues 232, , , Other Lcal Revenues All Other Lcal Revenues LcalRevAO 13, , Ttal, Lcal Revenues 13, , TOTAL REVENUES 2,831, , ,199, B. EXPENDITURES (see NOTE in Sectin L) 1. Certificated Salaries Certificated Teachers' Salaries , , ,018, Certificated Pupil Supprt Salaries , , Certificated Supervisrs' and Administratrs' Salaries , , Other Certificated Salaries , , Ttal, Certificated Salaries 974, , ,168, Nncertificated Salaries Nncertificated Instructinal Salaries , , , Nncertificated Supprt Salaries , , , Nncertificated Supervisrs' and Administratrs' Salaries , , Clerical and Office Salaries , , , Other Nncertificated Salaries Ttal, Nncertificated Salaries 288, , , Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 2 f 7 8/18/ :59 AM

10 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: CDS #: Innvatins Academy Descriptin Object Cde Unrestricted Restricted Ttal 3. Emplyee Benefits STRS , , , PERS OASDI / Medicare / Alternative , , , Health and Welfare Benefits , , , Unemplyment Insurance , , , Wrkers' Cmpensatin Insurance , , OPEB, Allcated OPEB, Active Emplyees Other Emplyee Benefits Ttal, Emplyee Benefits 339, , , Bks and Supplies Apprved Textbks and Cre Curricula Materials , , Bks and Other Reference Materials , , , Materials and Supplies , , , Nncapitalized Equipment , , , Fd Ttal, Bks and Supplies 54, , , Services and Other Operating Expenditures Subagreements fr Services Travel and Cnferences , , Dues and Memberships , , Insurance , , Operatins and Husekeeping Services , , Rentals, Leases, Repairs, and Nncap. Imprvements , , Transfers f Direct Csts Prfessinal/Cnsulting Services and Operating Expend , , , Cmmunicatins , , Ttal, Services and Other Operating Expenditures 502, , , Capital Outlay (Objects , mdified accrual basis nly) Land and Land Imprvements Buildings and Imprvements f Buildings Bks and Media fr New Schl Libraries r Majr Expansin f Schl Libraries Equipment Equipment Replacement Depreciatin Expense (accrual basis nly) Ttal, Capital Outlay Other Outg Tuitin t Other Schls Transfers f Pass-Thrugh Revenues t Other LEAs Transfers f Apprtinments t Other LEAs - Spec. Ed SE 0.00 Transfers f Apprtinments t Other LEAs - All Other AO 0.00 All Other Transfers Transfers f Indirect Csts Debt Service: Interest Principal (fr mdified accrual basis nly) Ttal Debt Service Ttal, Other Outg TOTAL EXPENDITURES 2,159, , ,764, Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 3 f 7 8/18/ :59 AM

11 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: CDS #: Innvatins Academy Descriptin Object Cde Unrestricted Restricted Ttal C. EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES BEFORE OTHER FINANCING SOURCES AND USES (A5-B8) 672, (237,727.00) 434, D. OTHER FINANCING SOURCES / USES 1. Other Surces Less: Other Uses Cntributins Between Unrestricted and Restricted Accunts (must net t zer) (262,051.00) 262, TOTAL OTHER FINANCING SOURCES / USES (262,051.00) 262, E. NET INCREASE (DECREASE) IN FUND BALANCE /NET POSITION (C+D4) 410, , , F. FUND BALANCE / NET POSITION 1. Beginning Fund Balance/Net Psitin a. As f July ,206, , ,309, b. Adjustments/Restatements 9793, c. Adjusted Beginning Fund Balance /Net Psitin 1,206, , ,309, Ending Fund Balance /Net Psitin, June 30 (E+F1c) 1,616, , ,743, Cmpnents f Ending Fund Balance (Mdified Accrual Basis nly) a. Nnspendable 1. Revlving Cash (equals Object 9130) Stres (equals Object 9320) Prepaid Expenditures (equals Object 9330) All Others b. Restricted c. Cmmitted 1. Stabilizatin Arrangements Other Cmmitments d. Assigned e. Unassigned/Unapprpriated Reserve fr Ecnmic Uncertainties Unassigned/Unapprpriated Amunt 9790M Cmpnents f Ending Net Psitin (Accrual Basis nly) a. Net Investment in Capital Assets b. Restricted Net Psitin , , c. Unrestricted Net Psitin 9790A 1,616, ,616, Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 4 f 7 8/18/ :59 AM

12 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: Innvatins Academy CDS #: Descriptin Object Cde Unrestricted Restricted Ttal G. ASSETS 1. Cash In Cunty Treasury , , , Fair Value Adjustment t Cash in Cunty Treasury In Banks , , In Revlving Fund With Fiscal Agent/Trustee Cllectins Awaiting Depsit Investments Accunts Receivable Due frm Grantr Gvernments , , , Stres Prepaid Expenditures (Expenses) , , Other Current Assets Capital Assets (accrual basis nly) TOTAL ASSETS 1,675, , ,802, H. DEFERRED OUTFLOWS OF RESOURCES 1. Deferred Outflws f Resurces TOTAL DEFERRED OUTFLOWS I. LIABILITIES 1. Accunts Payable , , Due t Grantr Gvernments Current Lans Unearned Revenue Lng-Term Liabilities (accrual basis nly) TOTAL LIABILITIES 59, , J. DEFERRED INFLOWS OF RESOURCES 1. Deferred Inflws f Resurces TOTAL DEFERRED INFLOWS K. FUND BALANCE /NET POSITION Ending Fund Balance /Net Psitin, June 30 (G9 + H2) - (I6 + J2) (must agree with Line F2) 1,616, , ,743, Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 5 f 7 8/18/ :59 AM

13 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: Innvatins Academy CDS #: L. FEDERAL NO CHILD LEFT BEHIND (NCLB) MAINTENANCE OF EFFORT REQUIREMENT NOTE: IF YOUR CHARTER SCHOOL RECEIVED FEDERAL FUNDING, AS REPORTED IN SECTION A2, THE FOLLOWING ADDITIONAL INFORMATION MUST BE PROVIDED IN ORDER FOR THE CDE TO CALCULATE COMPLIANCE WITH THE FEDERAL NO CHILD LEFT BEHIND (NCLB) MAINTENANCE OF EFFORT REQUIREMENT: 1. Federal Revenue Used fr Capital Outlay and Debt Service Included in the Capital Outlay and Debt Service expenditures reprted in sectins B6 and B7 are the fllwing amunts paid ut f federal funds: Federal Prgram Name (If n amunts, indicate "NONE") Capital Outlay Debt Service Ttal a. Nne $ 0.00 b. Nne 0.00 c. Nne 0.00 d. Nne 0.00 e. Nne 0.00 f. Nne 0.00 g. Nne 0.00 h. Nne 0.00 i. Nne 0.00 j. Nne 0.00 TOTAL FEDERAL REVENUES USED FOR CAPITAL OUTLAY AND DEBT SERVICE Cmmunity Services Expenditures Prvide the amunt f State and Lcal funds reprted in Sectin B that were expended fr Cmmunity Services Activities: Objects f Expenditures Amunt (Enter "0.00" if nne) a. Certificated Salaries b. Nncertificated Salaries c. Emplyee Benefits d. Bks and Supplies e. Services and Other Operating Expenditures TOTAL COMMUNITY SERVICES EXPENDITURES 0.00 Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 6 f 7 8/18/ :59 AM

14 CHARTER SCHOOL UNAUDITED ACTUALS FINANCIAL REPORT -- ALTERNATIVE FORM July 1, 2015 t June 30, 2016 Charter Schl Name: Innvatins Academy CDS #: State and Lcal Expenditures t be Used fr Annual NCLB Maintenance f Effrt Calculatin: Results f this calculatin will be used fr cmparisn with expenditures. Failure t maintain the required 90 percent expenditure level n either an aggregate r per capita expenditure basis will result in reductin t allcatins fr cvered prgrams in a. Ttal Expenditures (B8) 2,764, b. Less Federal Expenditures (Ttal A2) [Revenues are used as prxy fr expenditures because mst federal revenues 80, are nrmally recgnized in the perid that qualifying expenditures are incurred] c. Subttal f State & Lcal Expenditures 2,684, [a minus b] d. Less Cmmunity Services 0.00 [L2 Ttal] e. Less Capital Outlay & Debt Service 0.00 [Ttal B6 plus bjects 7438 and 7439, less L1 Ttal] TOTAL STATE & LOCAL EXPENDITURES SUBJECT TO MOE $ 2,684, [c minus d minus e] Califrnia Department f Educatin Charter Schl Financial Reprt Certificatin Frm (Revised 06/10/11) Page 7 f 7 8/18/ :59 AM

ASPIRE PUBLIC SCHOOLS Unaudited Actuals

ASPIRE PUBLIC SCHOOLS Unaudited Actuals ASPIRE PUBLIC SCHOOLS 2009-10 Unaudited Actuals Reported Using Non-Profit Basis of Accounting (Full Accrual) BHCPA ROCS UPS TOTAL Total Revenues $ 3,945,046 $ 2,787,131 $ 2,434,644 $ 9,166,821 Total Expenses