FINANCIAL ACCOUNTABILITY Dissemination Grant Statewide Conference February 13 and 15, 2007 International School of Monterey

AGENDA Monitoring Finances Achieving Targeted Goals Recent Successes Quality Controls Wrap-Up

INTERNATIONAL SCHOOL OF MONTEREY FY Students K - 4 Parents International School Public Setting

INTERNATIONAL SCHOOL OF MONTEREY FY Sixth Year 336 Students K ,000 Volunteer Hours/Year

ISM BOARD OF TRUSTEES Paul Gaucher, President, Gaucher & Associates Chris Hasegawa, Dean of Extended Education and International Programs, CSUMB Sean Madden, Director, Marketing & Publications/University Advancement, CSUMB Cary Neiman, Real Estate Developer Prashant Gupta, Chairman, President & CEO, Syndera Corp. Roberta Infelise, School Administrator Grant Miles, Managing Director Retail Co-Brand, HSBC Joanne Storkan, Business Owner & Screenwriter John Tilley, Senior V.P., Greater Bay Bancorp Michael Whilden, Attorney (Charter Schools) Chrissie Jahn, Executive Director/Head of School, MBA & PhD Candidate (Ex-Officio Board Member)

LET’S GET STARTED!

MONITORING FINANCES HISTORICAL ANALYSIS Year to Year Revenue Expenses

MONITORING FINANCES REVENUES BY SOURCE Graphs Prepared by Grant Miles, ISM Board Member

MONITORING FINANCES REVENUE MIX Graphs Prepared by Grant Miles, ISM Board Member

MONITORING FINANCES EXPENSES BY CATEGORY Graphs Prepared by Grant Miles, ISM Board Member

MONITORING FINANCES EXPENSES PER ADA Graphs Prepared by Grant Miles, ISM Board Member

ACHEIVING GOALS Benchmarking Analysis of Outcomes

ACHEIVING GOALS BENCHMARKING ISMHeritageFSCS Revenue State2,061,0491,796,405 2,106,057 Revenue Local332,50714%340,000 16%537,782 20% 2,348,3682,136,405 2,643,839 Salaries Certificated1,104,25247%626,898 31%986,464 42% Salaries Classified396,13117%221,289 11%461,554 20% Benefits409,46817%268,640 13%292,152 13% Capital43,0002%72,208 4%14,107 1% Books & Materials50,0002%109,000 5%161,984 7% Facilities117,5415%530,000 26%148,177 6% Operating236,15710%199,792 10%258,886 11% District00% 2,356,548100%2,027,827 2,323,324 ADA

BUDGETING - KEYS TO SUCCESS Identify Key Needs Prioritizes Those Needs Separate Revenues and Expenses into Two Groups: 1. Those with 100% certainty 2. Those with less Monitor # 2 Items Closely

BUDGETING - KEYS TO SUCCESS Budget Capital Items Separately Forecast out 3 to 5 Years Use All Resources Available Analyze Past Revenue and Expense Trends Benchmark Where Ever Possible

SUCCESSES IN FINANCIAL MANAGEMENT Background Direct Funded vs. Indirect Funded Ed. Code (b)

ED. CODE: (b) The sponsoring local educational agency shall transfer funding in lieu of property taxes to the charter school in monthly installments, by no later than the 15th of each month.

SUCCESSES IN FINANCIAL MANAGEMENT (cont’d) Higher Level of Independence Additional Burden of Responsibility

QUALITY CONTROLS Separation of Duties

RECAP Monitoring Finances Achieving Targeted Goals Recent Successes Quality Controls

THANK YOU! Contact Info: Lorraine Williby (831) International School of Monterey