Funding Tsunami, Now What?
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The FY22-23 California State Budget has brought unprecedented funding to the schools in our state. The state called the FY22 COLA of 5.07% a "super COLA," so just how will they refer to this year's 12.84%+ COLA!?
How should schools handle the one-time funding that could add over $3,000 per ADA to your budget this year, and can they spread that funding out over multiple years? Join us for an in-depth and interactive discussion of the new funding resources, allowable uses, and spending timelines. A thoughtful strategy is needed so one-time funding sources can help create a sustainable future rather than become an unintended detriment to the longevity of an organization's ability to function after these funds run out. We will discuss how expense increases can compound over years when viewed as a perpetuity expense compared with more strategic one-time initiatives, and we'll clarify how to properly budget one-time funds, use them correctly, and tag expenses upfront while focusing on spending in order of priority to prevent double-tagging.
Scholarship Prep Charter School
Andrew Crowe is the Deputy Director at Scholarship Prep, a network of charter schools serving students in grades TK-8. Andrew has led the closing of the opportunity and achievement gaps as a teacher, instructional coach, site administrator, and district leader in Philadelphia, Hawai`i, and Southern California. Andrew holds a Bachelor’s degree from Notre Dame, a Master’s degree from the University of Pennsylvania, and was a Teach For America corps member. He currently serves as the Chair of the Native American Alumni Board of Notre Dame.
Danielle Vartanian serves as one of 7 Accounting Managers at Charter Impact and has been working within the industry for over 6 years. She oversees a team of 6 accountants and ensures the accuracy and timeliness of monthly, quarterly, and year-end reports including financial statements, grant reporting and compliance reporting. She directly supports the Director of Accounting Services in budgeting and forecasting, and is especially skilled at providing training on processes, procedures and best practices to new and existing accounting staff. She thoroughly enjoys serving the education community and being a partner to the schools.
Jason Serves as the Managing Director for Charter Impact. He oversees a 10-member team that oversees all financial aspects for approximately 100 charter schools throughout California. Before joining Charter Impact, Jason was a Senior Director of Finance for a large network of charter schools in California. During his 4 ½ years there, he was responsible for the financial projections, cash management, banking relationships, and ad hoc analysis and reporting for 20 California charter schools. He is a strong advocate for school choice and opportunities outside of the traditional public schools currently available to students.