Green Woods Charter School For the Period July 1 through December 31, 2016 Covenant Calculations. Days Cash on Hand Unrestricted Cash $ 963,122

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1 Green Woods Charter School For the Period July 1 through December 31, 2016 Covenant Calculations Days Cash on Hand Unrestricted Cash $ 963,122 YTD Operating Expense $ 3,071,425 Exclude: Depreciation {325,027) Adjusted Expenses $ 2,746,398 divided by 183 $ 15, #of Days Cash on Hand Required at least 45 Days PASS Debt Service Coverage Revenues $ 3,528,498 Operating Expenses $ 3,071,425 Exclude: Depreciation {325,027) Exclude: Interest (511,469) Adjusted Expense $ 2,234,929 Net Income Available for Debt Service $ 1,293,569 Debt Service Requirements Interest Expense $ 511,469 Principal on Bond 142,500 Total Debt Srv Requirements $ 653,969 Debt Service Coverage 1.98 Required at least 1.10 PASS Current Enrollment 670 Must have at least 650 Students PASS

2 GREEN WOODS CHARTER SCHOOL YTD ACTUAL NET INCOME YTD BUDGETED NET INCOME VARIANCE $457,073 $376,822 $ 80,251 Revenues are above budget by $92K. Tuition above budget by $SOK due to higher tuition rates versus budget. Out of District above budget by $40K, unbudgeted. Ready to Learn Grant above budget by $30K, unbudgeted. Titles above budget by $BK, higher allocation. Contributions/Fundraiser below budget by ($36K). Expenses above budget by ($11K) Instruction Regular above budget by ($124K). o Personnel Compensation above budget by ($35K) or ($6K) per month. o Professional services above budget by ($12K), primarily substitutes. o Supplies above budget by ($33K), low budgeted funding. o Property above budget by ($42K), needs review for possible capitalization. Specialized Ed below budget by $28K. o Personnel Compensation below budget by $34K. o Professional Services above budget by ($8K), primarily ESY. Pupil Personnel below budget by $16K o Personnel Compensation below budget by $8K. o Professional services below budget by $8K. Psychological Services above budget by ($9K), Therapy Source. Professional Development above budget by ($3K), primarily professional service. Legal and Audit Services above budget by ($1 K). o Legal below budget by $4K. o Audit Services below budget by $4K. o Legal Settlement above budget by ($10K), first installment student MF.

3 Office of the CEO below budget by $71 K, personnel compensation (no employee CEO). Administration below budget by $21 K. o Personnel Compensation below budget by $59K, no principal employed. o Professional Services above budget by ($47K), primarily interim CEO. o Other Services above budget by ($SK), printing costs. o Material and Supplies below budget by $12K. Pupil Health below budget by $6K o PersonnelCompesnation below budget by $7K. o Professional Service's above budget by ($3K). Business Services below budget by $9K, primarily professional services. Building Operations above budget by ($9K) o Personnel Compensation below budget by $17K. o Cleaning below budget by $20K, Peachy Kleen. o Repairs to Building above budget by ($38K), Peachy Kleen. o Security System above budget by ($14K). o Utility below budget by $17K. Transportation Service above budget by ($19K), chargeback by PSD. Student Activities below budget by $4K. Interest expense above budget by ($2K)

4 HARTER Financial Report Period July 1, December 31, 2016

5 GREEN WOODS CHARTER SCHOOL, INC. FINANCIAL STATEMENTS FOR THE PERIOD ENDING DECEMBER 31, 2016 TABLE OF CONTENTS TAB MONTHLY INCOME STATEMENT FOR THE PERIOD JULY1-DECEMBER31, BALANCE SHEET FOR THE MONTH ENDING DECEMBER 31, STATEMENT OF CASH FLOWS FOR THE PERIOD JULY 1-DECEMBER 31, CHECK REGISTER FOR THE MONTH ENDING DECEMBER 31, ACCOUNTS PAYABLE MONTH ENDING DECEMBER 31,

6 Section 1 INCOME STATEMENT-ACTUAL VS. BUDGET FOR THE PERIOD JULY 1-DECEMBER31, 2016

7 Green Woods Charter School Profit & Loss Budget vs. Actual July 1 through December 31, 2016 Jul Dec 16 Budget $ Over Budget Income Local Revenue $ 3,280,799 $ 3,227,314 $ 53, Student Activity Revenue Revenue from State Sources 29,972 29, Revenue from Federal Sources 217, ,223 8,293 Total Income $ 3,528,498 $ 3,436,537 $ 91,961 Expense Instruction Instruction Regular Salaries $ 708,084 $ 678,328 $ 29, Personnel Svcs- Emp Benefits 363, ,485 5, Professional Services 14,075 2,000 12, Other purchased services 1,634 1, Reg Ed Program Supplies 79,043 46,400 32, Property 367, ,027 42,261 Total Instruction Regular 1,533,313 1,409, , Specialized Ed Programs Salaries & Wages 101, ,962 (30,555) Employee Benefits 58,806 62,227 (3,421) Professional Services 61,285 53,400 7, Other Purchased Services Materials & Supplies 1, (2, 105) Total Specialized Ed Programs 223, ,089 (27,769) Total Instruction 1,756,633 1,660,329 96, Support Services Pupil Personnel 38,463 54,420 (15,957) Psychological Services 9,050 9, Professional Development 5,512 2,800 2, Legal & Audit Services 69,514 68,350 1, Office of the CEO 42, ,882 (71,742) Administration 272, ,415 (20,818) Pupil Health 37,210 42,870 (5,660) Business Services 44,050 53,200 (9, 150) Operation of Building Services 192, ,931 8, Transportation Services 18,795 18, Central lnforamtion Technology 73,092 73,299 (207) Total Support Services 803, , 167 (82,844) Non Instructional 4,000 (4,000) Debt Service 511, ,219 2,250 Total Expense $ 3,071,425 $ 3,059,715 $ 11,710 Net Income $ 457,073 $ 376,822 $ 80,251 Page 1of1

8 Section 2 BALANCE SHEET FOR THE MONTH ENDING DECEMBER 31, 2016

9 Green Woods Charter School Balance Sheet As of December 31, 2016 ASSETS Current Assets Checking/Savings Unrestricted Cash Cash Restricted Total Checking/Savings Accounts Receivable Accounts Receivable Total Accounts Receivable Other Current Assets Due from Green Woods Foundation Credit Card Charges to be Distr Due From Other Governments Due from Student Activities Prepaid Expense Rental Deposits Interim Sites Retainer Professional Service Total Other Current Assets Total Current Assets Fixed Assets Fixed Assets Total Fixed Assets Other Assets Deferred Outflow of Res-GASB 68 Total Other Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable Payables Total Accounts Payable Other Current Liabilities Due to Commonwealth Accounts Payable from Audit Salaries Payable Benefits Payable Flex Benefits Payable Due to PSERS 0465 Accrued expenses Due to Student Activity Funds Due to Local Total Other Current Liabilities Total Current Liabilities Long Term Liabilities O Current portion of LT debt Bonds Outstanding Pension Liability GASB Loan PIDC Deferred Inflows of Res-GASB 68 Total Long Term Liabilities Total Liabilities Equity Investment in general FA Retained Earnings Unrestricted Net Assets-GASS 68 Net Income Total Equity TOTAL LIABILITIES & EQUITY Dec 31, , ,473, ,436, , , , , , , , , , ,630, ,917, ,917, , , ,267, , , , , , , , , , , , , ,892, ,397, , , ,895, ,324, , ,009, ,528, , ,056, ,267, Page1of1

10 Section 3 STATEMENT OF CASH FLOWS FOR THE PERIOD JULY 1-DECEMBER31, 2016

11 Green Woods Charter School Statement of Cash Flows July 1 through December 31, 2016 OPERATING ACTIVITIES Net Income Adjustments to reconcile Net Income to net cash provided by operations: Due from Other School Districts OlherAccounts Receivable Due From School Dist- Phila Credit Card Charges to be Distr Due From Commonwealth - Other Due from Federal Government Due from Student Activities Prepaid Expense Retainer- Professional Service Exchange Account Payables: Accounts Payable Payables: NP Audit Due to Federal Accounts Payable from Audit Salaries Payable Benefits Payable Flex Benefits Payable PSERS Employee Contrib PSERS Employer Payable Alternative 403B EE Contrib Alternative 403B ER Contrib Voluntary 403B EE Contribution 0465 Accrued expenses Due to School District Student Activities Filed Trips Student Activitiy Supplies Deferred Federal Revenue Net cash provided by Operating Activities INVESTING ACTIVITIES Computer Equipment Furniture & Classroom Fixtures Soft Costs:0241 OOa Engineering Construction Accumulated Depreciation Net cash provided by Investing Activities FINANCING ACTIVITIES Bonds Payable Series A Loan- PIDC Net cash provided by Financing Activities Net cash decrease for period Cash at beginning of period Cash at end of period Jul - Dec , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,575, ,436, Page 1 of1

12 Section 4 CHECK REGISTER FOR THE MONTH ENDING DECEMBER31, 2016

13 Green Woods Charter School Check Detail December 2016 Type Num - Date Name Paid Amount Check /29/2016 Jesse Reilly Payroll Accounl Check /29/2016 AXA Equitable 1, Check /29/2016 Lincoln Invest Planning, Inc. 1, , Total: Payroll Account Check /05/2016 TD Card SeNices 1, Operaling Accounl Check /05/2016 Citrin Cooperman 10, Check /05/2016 St. Clair CPAs, P.C Check /05/2016 PSTA Check /05/2016 Eric lsselhardt Check /05/2016 The Hartford -Priority Accounts 1, Check /05/2016 Santilli & Thomson, LLC 6, Check /05/2016 Fed ex Check /05/2016 Water Revenue - Biding 1, Check /05/2016 U.S. Bank Equipment Finance 4, Check /05/2016 BMC Benefit SeNices 6, Check /05/2016 PEC , Check /05/2016 Educators On Call, LLC 1, Check /05/2016 Verizon Check /05/2016 Peachy Kleen Janitorial, Inc. 5, Check /05/2016 Phonak LLC Check /05/2016 Penn Valley Chemical Company 1, Check /05/2016 Adamus Media Check /05/2016 Really Good Stuff Check /05/2016 Gilbert Printing SeNices Check /05/2016 Worth & Company, Inc. 1, Check /05/2016 Wayman Fire Protection Inc Check /05/2016 Wayman Fire Protection Inc Check /05/2016 Centric Leasing/Landen Financial SeNie< Check /05/2016 Ms. Mary Frances Wainwright Check /05/2016 Teena Dahms Check /05/2016 The Labov Plumbing & Heating Supply In Check /05/2016 Centric Business Systems Check /05/2016 WG America Co. (The Water Guys) Check /05/2016 Kelly SeNices, Inc. 1, Check /05/2016 Life Enrichment Trust 10, Check /05/2016 John J. Dougherty & Sons, Inc 14, Check /05/2016 PlusUltre LLC 15, Check /06/2016 O'Donnell Associates 3, Check /12/2016 Amtrust North America, lnc.-1 1, Check /12/2016 Bayada Nurses Check /12/2016 BP Environmetal SeNices,lnc Check /12/2016 Brandywine Elevator Company Check /12/2016 Centric Business Systems Check /12/2016 Centric Business Systems Check /12/2016 Daniel Sylvan Check /12/2016 Dirk's Pest Management Specialist Check /12/2016 Dr. Leroy Nunery 2, Check /12/2016 Educators On Call, LLC 1, Check /12/2016 Educators On Call, LLC Check /12/2016 Educators On Call, LLC 1, Check /12/2016 Great American Insurance Group 4, Check /12/2016 Juli Vitello Check /12/2016 Kelly SeNices, Inc Check /12/2016 Melady Landscaping 1, Check /12/2016 National School Forms Check /12/2016 NSAN., INC Check /12/2016 Peachy Kleen Janitorial, Inc. 10, Check /12/2016 Philadelphia Gas Works Page1of2

14 Green Woods Charter School Check Detail December 2016 Type Num - Date Name Paid Amount Check /12/2016 PIDC Check /12/2016 Stanley's Hardware Inc Check /12/2016 Susquehanna Commercial Finance, Inc. 2, Check /12/2016 Water Revenue Bureau Check /12/2016 Wayman Fire Protection Inc Check /12/2016 W.B. Mason Co. Inc Check /12/2016 WG America Co. (The Water Guys) Check /12/2016 Worth & Company, Inc. 2, Check /12/2016 Y.A.L.E. School of Philadelphia 4, Check /12/2016 Comcast-# Check /12/2016 Margolis Edelstein 4, Check /12/2016 Margolis Edelstein 1, Check /14/2016 PEC , Check /19/2016 United Concordia 3, Check /19/2016 Keystone Health Plan East 26, Check /19/2016 Keystone Health Plan East 27, , Total: Operating Account Page 2 of 2

15 Section 5 ACCOUNTS PAYABLE FOR THE MONTH ENDING DECEMBER31, 2016

16 Green Woods Charter School AJP Aging Summary As of December 31, 2016 Current > 90 TOTAL Amtrust North America, lnc.-1 1, , , Apple Computer , , Applied Video Technology, Inc Bayada Nurses 1, , , Becker's Brandywine Elevator Company CDW Government, Inc , , Centric Business Systems Citrin Cooperman , , Delaware County Intermediate Unit Educators On Call, LLC , , Fed ex Heaven Sent Horsham Clinic Kelly Services, Inc , , Mary F Wainwright National Council of Tch Of Math O'Donnell Associates , , Omega Security Systems Inc Overbrook School for the Blind PA Dept of Education 46, , Paetec Pen Serv Plan Services, Inc Penn Valley Chemical Company , , PTS , , School Health Corporation St. Clair CPAs, P.C Stanley's Hardware Inc Talent Think Innovations, LLC 2, , Therapy Source , , Tony Rani's Pizza U.S. Bank Equipment Finance , , W.B. Mason Co. Inc , , Water Revenue Bureau Worth & Company, Inc TOTAL 53, , , Page 1 of 1

12:45 PM Phoenix Bioinformatics Corporation. 03/27/15 Statement of Financial Income and Expense Accrual Basis January through December 2014

12:45 PM Phoenix Bioinformatics Corporation 03/27/15 Statement of Financial Income and Expense Jan - Dec 14 Ordinary Income/Expense Income 43400 Direct Public Support 980.00 45000 Investments 1.12 46400