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EFGHIJKJELMNFOPGQHNRJMNHJSTPUO CDEFGEHIJ78997lt=JgtJFGJABHFGEHIJ789C97lt=
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FGHIHJGIKLMHNOPQIRGOHL STGULGHNOPQIRGOHLGULPVWXGPVYLONLZ[[LJTIPRVPLUJTOOKUL]PO^GYVLRTVLNOKKO_GH`LQVIUXPVULONLNGUJIK aVPNOPQIHJVLONLRTVLJTIPRVPLUJTOOKLGHLZaaVHYGbLcLdSORIKLebaVHYGRXPVULIHYLZYQGHGURPIRG^VLebaVHYGRXPVU
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KJEJiIJjKUKHEJKJEJltJVbJKJEJ lt8k
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][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
EiE
Eltiltki
lt==8
42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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FGHIHJGIKLMHNOPQIRGOHL STGULGHNOPQIRGOHLGULPVWXGPVYLONLZ[[LJTIPRVPLUJTOOKUL]PO^GYVLRTVLNOKKO_GH`LQVIUXPVULONLNGUJIK aVPNOPQIHJVLONLRTVLJTIPRVPLUJTOOKLGHLZaaVHYGbLcLdSORIKLebaVHYGRXPVULIHYLZYQGHGURPIRG^VLebaVHYGRXPVU
]VPLfTGKYgh J
ghJ cGeUJELMNFOPGQHNRJiNHJSTPUO
DEJFFGFAGFGEJj cGeUJELMNFOPGQHNRJMNHJSTPUOfJGFHEJGEGFGJEIBEJHKGADEJLMDENJGOEJAJFAHKGEHJ7lt8P lt=JQFOEHAGEJEMJRAJFGKEJFGJSIBEJETJFJHJHKUKHEJVbJGOEJbEFDJEJHJRDSJGAHEJGJEJDEGGNEJGc LdJGEeEDJfJGbcJgEJHEGGFDJKeJJEDJFENNFTc
NOPQRSSTUQSVWXOYZ[PVOWSOWSPUQS]UQ^_`QSOXSa_W]PVOW[`SbcdQWeQeSOWSd[fQeSghigjSOXSPUQ
k_^VPSl_V^QS][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV` ][`]_`[PVOWeRSUPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ` J
KJEJltIJDEGFGJSIBEJHKGADE =8=7C
KJEJIJhEFDJSJHJRDSJGAHEJGJEJDEGGNEJG 8
KJEJiIJjKUKHEJKJEJltJVbJKJEJ lt8k
12324
ghJhOiPFPRGHeGPjNJELMNFOPGQHNRJMNHJSTPUO
DEJFFGFAGFGEJjhOiPFPRGHeGPjNJELMNFOPGQHNRJMNHJSTPUOkJDEJFFGFAGFGEJlmHNKJKGDFGKUEJSIBEJHKGADEJBED COKGHnJMKDGJabbJGEeEGOEDJGOEJMEGGEoKJeI
ltcJDFHEJGOEJDEGEUFJGJBEDGKEJJMDENJGOEJpBEDEJJEGJEDUKFEJFEGqJDEoJFJHJGOEJpNFJFeENEJGJFJHJeEJEDFGq FEGANJJLMDENJGOEJAJFAHKGEHJ7lt8Plt=JQFOEHAGEJEMJRAJFGKEJFGJSIBEJET
cJmJbJFEJGDFFGEHJFHNKJKGDFGKUE9NFJFeENEJGJMEEJBFKHJGEJEGOEDJEDeFJKAFGKEJJEDJFEDBEDFGKEJ
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mHNKJKGDFGKUEJSIBEJHKGADEIJJmHNKJKGDFGKEJJFJHJNFJFeENEJGJEMJGOEJFOFDGEDJFOEEGJKJFGAHEJGOE
FFGKUKGKEJFJHJBEDEJJEGJEMJGOEJEMMKFEJEMJGOEJFOKEMJFOEEGJEMMKFEDBJGOEJMKJFJFEJEDJVAKJEJEMMKFEBJFOEEG EBEDFGKEJJBEDEJJEGBJHFGFJNFJFeENEJGJFJHJDEBEDGKJeBJOANFJJDEEADFEBJGEFOJEGEebBJEGFcJdGJFGE
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NOPQeRSS TUQSVWXOYZ[PVOWSOWSPUQS]UQ^_`QSOXSa_W]PVOW[`SbcdQWeQeSOWSd[fQeSghigjSOXSPUQSk_^VPSl_V^Q
][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
EiE
Eltiltki
lt==8
42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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EFGHIJKJELMNFOPGQHNRJMNHJSTPUO CDEFGEHIJ78997lt=JgtJFGJABHFGEHIJ789C97lt=
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FGHIHJGIKLMHNOPQIRGOHL STGULGHNOPQIRGOHLGULPVWXGPVYLONLZ[[LJTIPRVPLUJTOOKUL]PO^GYVLRTVLNOKKO_GH`LQVIUXPVULONLNGUJIK aVPNOPQIHJVLONLRTVLJTIPRVPLUJTOOKLGHLZaaVHYGbLcLdSORIKLebaVHYGRXPVULIHYLZYQGHGURPIRG^VLebaVHYGRXPVU
]VPLfTGKYgh J
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k_^VPSl_V^QS][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV` ][`]_`[PVOWeRSUPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ` J
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][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
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TU[WsSqO_o
C7kE=
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Eltiltki
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
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Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
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- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
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lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
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- Annot
- Annot
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DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
EFGHIJKJLMNJNOPQR LMNOPQRSMOpSqPrstuvturwx
STJUVHHRFGJLWOHXJYRZPRHJ[FWHZOG]WFJ^EFGRHJ]FWJWHJRO_`JLMNJZRZPRHa
yzQNOppM|pMS~|MSSzpNN
NOPOpMzS
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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p`JiPHHLGOnJMLGOPFJjRQF
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
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NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
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KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
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Eltiltki
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
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lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
KaJMJpSiOJmMHOJSoSTOmloJNMSVP z
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EFGHIJKJELMNFOPGQHNRJMNHJSTPUO CDEFGEHIJ78997lt=JgtJFGJABHFGEHIJ789C97lt=
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KJEJiIJjKUKHEJKJEJltJVbJKJEJ lt8k
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][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
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Eltiltki
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
gh`ij`kJLHMNHOPPJQMRSHTJ[GGSlFmOFGJMnJflFSFolSVJUMSVP
rMMPezMN fpMNQpP6NpSPOz ezMPPfpOPzPzO b|PzOPfpOyMQMOpPz~pNN fpO pNxpP||zON
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rMMPezMPu fMOMP|QpzpOPOMO~PNON
zpOPMSMO~PNON fpO
rMMPezMPl
rMMPezMPv
rMMPezMPj
42324
EFGHIJKJELMNFOPGQHNRJMNHJSTPUO CDEFGEHIJ78997lt=JgtJFGJABHFGEHIJ789C97lt=
VWXSYZE[JSXJ][E^E_`XaXNbGPcFJdNeOPFf
FGHIHJGIKLMHNOPQIRGOHL STGULGHNOPQIRGOHLGULPVWXGPVYLONLZ[[LJTIPRVPLUJTOOKUL]PO^GYVLRTVLNOKKO_GH`LQVIUXPVULONLNGUJIK aVPNOPQIHJVLONLRTVLJTIPRVPLUJTOOKLGHLZaaVHYGbLcLdSORIKLebaVHYGRXPVULIHYLZYQGHGURPIRG^VLebaVHYGRXPVU
]VPLfTGKYgh J
ghJ cGeUJELMNFOPGQHNRJiNHJSTPUO
DEJFFGFAGFGEJj cGeUJELMNFOPGQHNRJMNHJSTPUOfJGFHEJGEGFGJEIBEJHKGADEJLMDENJGOEJAJFAHKGEHJ7lt8P lt=JQFOEHAGEJEMJRAJFGKEJFGJSIBEJETJFJHJHKUKHEJVbJGOEJbEFDJEJHJRDSJGAHEJGJEJDEGGNEJGc LdJGEeEDJfJGbcJgEJHEGGFDJKeJJEDJFENNFTc
NOPQRSSTUQSVWXOYZ[PVOWSOWSPUQS]UQ^_`QSOXSa_W]PVOW[`SbcdQWeQeSOWSd[fQeSghigjSOXSPUQ
k_^VPSl_V^QS][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV` ][`]_`[PVOWeRSUPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ` J
KJEJltIJDEGFGJSIBEJHKGADE =8=7C
KJEJIJhEFDJSJHJRDSJGAHEJGJEJDEGGNEJG 8
KJEJiIJjKUKHEJKJEJltJVbJKJEJ lt8k
12324
ghJhOiPFPRGHeGPjNJELMNFOPGQHNRJMNHJSTPUO
DEJFFGFAGFGEJjhOiPFPRGHeGPjNJELMNFOPGQHNRJMNHJSTPUOkJDEJFFGFAGFGEJlmHNKJKGDFGKUEJSIBEJHKGADEJBED COKGHnJMKDGJabbJGEeEGOEDJGOEJMEGGEoKJeI
ltcJDFHEJGOEJDEGEUFJGJBEDGKEJJMDENJGOEJpBEDEJJEGJEDUKFEJFEGqJDEoJFJHJGOEJpNFJFeENEJGJFJHJeEJEDFGq FEGANJJLMDENJGOEJAJFAHKGEHJ7lt8Plt=JQFOEHAGEJEMJRAJFGKEJFGJSIBEJET
cJmJbJFEJGDFFGEHJFHNKJKGDFGKUE9NFJFeENEJGJMEEJBFKHJGEJEGOEDJEDeFJKAFGKEJJEDJFEDBEDFGKEJ
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mHNKJKGDFGKUEJSIBEJHKGADEIJJmHNKJKGDFGKEJJFJHJNFJFeENEJGJEMJGOEJFOFDGEDJFOEEGJKJFGAHEJGOE
FFGKUKGKEJFJHJBEDEJJEGJEMJGOEJEMMKFEJEMJGOEJFOKEMJFOEEGJEMMKFEDBJGOEJMKJFJFEJEDJVAKJEJEMMKFEBJFOEEG EBEDFGKEJJBEDEJJEGBJHFGFJNFJFeENEJGJFJHJDEBEDGKJeBJOANFJJDEEADFEBJGEFOJEGEebBJEGFcJdGJFGE
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NOPQeRSS TUQSVWXOYZ[PVOWSOWSPUQS]UQ^_`QSOXSa_W]PVOW[`SbcdQWeQeSOWSd[fQeSghigjSOXSPUQSk_^VPSl_V^Q
][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
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42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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J
npN
|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
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`zOP_RR|Mdp
RUNFrJIPZ
42324
EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
WSEJXYZFGJYQJ[JSOTNUOHV
]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
ys
WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
NYlfPTFNOJjPGUJOjJ0YH1J2GTGOJERZNTGPYFJ3TjJLc-]a^]TK^JQYHJGOTNUPFgJVGTQQ
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fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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][WSUQ`dSe]UOO`eS`O][PQSPUQS[ZO_WPeSPOS_eQSVWSPUQSPmOSdQYSd_dV`S][`]_`[PVOWeR UPPdRnnmmmodhpoWqeQ^ofOrnde]nk_^VPl_V^QoUPZ`oS EiMUcINNJlNFNmPGJbcRGRJcHJNLMNFOPGQHNRJRTcQUOJFcGJlNJHNMcHGNOJPFJGTNJelcjNJbeUbQUeGPcFRh
KJEJltIJCEGEUFJGJDEDEJJEGJQEDUKFE CEGJLCEoT
KJEJIJFFJFeENEJGJFJHJGEJEDFGJCEG LCEGANJT
KJEJiIJQANJEMJKJEJltJFJHJKJEJ
KJEJEIJjKUKHEJKJEJiJVbJGOEJhEFDJSJHRDSJGAHEJGJEJDEGGNEJG
TU[WsSqO_o
C7kE=
EiE
Eltiltki
lt==8
42324
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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12324
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
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FJAEJ9ED7=gtJDE79=gt7CGME
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
ROCHESTER NEW YORK
AUDITED CONSOLIDATED FINANCIAL STATEMENTS
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BYGOVERNMENT AUDITING STANDARDS
AND
INDEPENDENT AUDITORrsquoS REPORTS
JUNE 30 2018(With Comparative Totals for 2017)
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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ldJRSMMJIPZHJOTUPPMpOJOGPHI
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J
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|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
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`zOP_RR|Mdp
RUNFrJIPZ
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EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
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]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
ys
WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
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GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
CONTENTS
AUDITED CONSOLIDATED FINANCIAL STATEMENTS PAGE
Independent Auditorrsquos Report 3
OTHER CONSOLIDATING FINANCIAL INFORMATION
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
Independent Auditorrsquos Report on Internal Control over Financial Reporting and onCompliance and Other Matters Based on an Audit of Financial Statements
Consolidated Statement of Financial Position 5
Consolidated Statement of Activities and Changes in Net Assets 6
Consolidated Statement of Functional Expenses 7
Consolidated Statement of Cash Flows 8
Notes to Consolidated Financial Statements 9
Independent Auditorrsquos Report on Consolidating Financial Information 18
Consolidating Statement of Financial Position 19
Consolidating Statement of Activities and Changes in Net Assets 20
Performed in Accordance with Government Auditing Standards 22
Schedule of Findings and Responses 24
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
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lt=JDE79=gt7E
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12324
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p`JiPHHLGOnJMLGOPFJjRQF
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
INDEPENDENT AUDITORrsquoS REPORT
Board of Trustees Discovery Charter School
Report on the Consolidated Financial Statements
We have audited the accompanying consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the consolidated financial statements
Managementrsquos Responsibility for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America this includes the design implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement whether due to fraud or error
Auditorrsquos Responsibility
Our responsibility is to express an opinion on these consolidated financial statements based on our audit We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements The procedures selected depend on the auditorrsquos judgment including the assessment of the risks of material misstatement of the consolidated financial statements whether due to fraud or error In making those risk assessments the auditor considers internal control relevant to the entityrsquos preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the entityrsquos internal control Accordingly we express no such opinion An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management as well as evaluating the overall presentation of the consolidated financial statements
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
- 3 -
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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SUTF1JIYZ0
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w
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Opinion
In our opinion the consolidated financial statements referred to above present fairly in all material respects the financial position of Discovery Charter School as of June 30 2018 and the changes in its net assets functional expenses and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America
Report on Summarized Comparative Information
We have previously audited Discovery Charter Schoolrsquos June 30 2017 consolidated financial statements and we expressed an unmodified audit opinion on those audited consolidated financial statements in our report dated September 21 2017 In our opinion the summarized comparative information presented herein as of and for the year ended June 30 2017 is consistent in all material respects with the audited consolidated financial statements from which it has been derived
Other Report Required by Government Auditing Standards
In accordance with Government Auditing Standards we have also issued our report dated October 15 2018 on our consideration of Discovery Charter Schoolrsquos internal control over financial reporting and on our tests of its compliance with certain provisions of laws regulations contracts and grant agreements and other matters The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on internal control over financial reporting or on compliance That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Discovery Charter Schoolrsquos internal control over financial reporting and compliance
Rochester New York October 15 2018
- 4 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
JUNE 30 2018 (With Comparative Totals for 2017)
June 30 ASSETS 2018 2017
CURRENT ASSETS Cash $ 616985 $ 917184 Cash in escrow Grants and other receivables Prepaid expenses
TOTAL CURRENT ASSETS
75000 212741 49774
954500
750001908342348
1185366
PROPERTY AND EQUIPMENT net 191481 245678
TOTAL ASSETS 1145981$ 1431044$
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll and benefits 412992 438230 Deferred revenue 25000 25000 Deferred lease liability 4130 -
TOTAL CURRENT LIABILITIES 564559 578597
DEFERRED LEASE LIABILITY - 8807
NET ASSETS Unrestricted 403452 666638 Temporarily restricted 177970 177002
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS $ 1145981 $ 1431044
The accompanying notes are an integral part of the consolidated financial statements
- 5 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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p`JiPHHLGOnJMLGOPFJjRQF
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
Temporarily Unrestricted restricted Total Total
Operating revenue and support Public school districts Per pupil allocation income $ 3617005 -$ $ 3617005 $ 3624309 District textbooks in-kind 16310 - 16310 16300 Students with disabilities 378915 - 378915 421016 Total revenue from public school districts 4012230 - 4012230 4061625
Federal and State grants 381532 167970 549502 527201 Private grants 43236 - 43236 96395 Donated supplies materials and services 189 - 189 1856 Net assets released from restriction 167002 (167002) - -
Total other revenue and support 591959 968 592927 625452
TOTAL OPERATING REVENUE AND SUPPORT 4604189 968 4605157 4687077
Expenses Program services Regular education 3514210 - 3514210 3600087 Special education 841048 - 841048 548054
Supporting services Management and general 512117 - 512117 615104
TOTAL EXPENSES 4867375 - 4867375 4763245
CHANGE IN NET ASSETS (263186) 968 (262218) (76168)
Net assets at beginning of year 666638 177002 843640 919808
NET ASSETS AT END OF YEAR 403452 $ 177970 $ 581422 $ 843640 $
The accompanying notes are an integral part of the consolidated financial statements
- 6 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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SUTF1JIYZ0
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF FUNCTIONAL EXPENSES
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Personnel service costs Administrative staff Instructional personnel Non-instructional personnel Total salaries and wages
Payroll taxes and employee benefits Professional development Legal fees Audit and accounting fees Professional fees - education Professional fees - other Curriculumclassroom expenses Supplies materials Food service fees Student transportation services Travelconferences Postage printing and copying Insurance Information technology Leased equipment Non-capitalized equipmentfurnishings Repairs and maintenance Depreciation and amortization Occupancy Other expenses
2018 2017
7 8 50 46 2 2
June 30 No of positions
$
$
Regular education
137410 1776952
-
1914362
479814 21355
--
78700 38591 60565 20008 278172 44274 9158 11690 19843 56710 1832 7364 2612 46572 419178 3410
3514210
Special education
148682$ 458163
-
606845
180840 7118 --
15000 -
13159 --
4919 3053 1891 --
282 --
7165 -
776
841048$
Program Services
$
$
Year ended June 30 2018
Management Sub-total and general
286092 230486$ 2235115 -
-
30472
2521207 260958
660654 62639 28473 -
- 16821 - 20038
93700 -38591 3773 73724 -20008 22330 278172 -49193 -12211 -13581 5327 19843 6614 56710 29522 2114 705 7364 1841 2612 2611 53737 17912 419178 46575 4186 14451
4355258 512117$
Supporting Services
$
$
Total
516578 2235115 30472
2782165
723293 28473 16821 20038 93700 42364 73724 42338 278172 49193 12211 18908 26457 86232 2819 9205 5223 71649 465753 18637
4867375
$
$
2017
Total
473068 212599633116
2632180
721377 19589 12873 27522 124900 31834 102849 44584 269082 45891 11950 17402 25961 77249 2002 9516 3545 76717 490173 16049
4763245
The accompanying notes are an integral part of the consolidated financial statements
- 7 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED JUNE 30 2018 (With Comparative Totals for 2017)
Year ended June 30 2018 2017
CASH FLOWS - OPERATING ACTIVITIES Change in net assets Adjustments to reconcile change in net assets to net cash (used for) provided from operating activities Depreciation and amortization Changes in certain assets and liabilities affecting operations Grants and other receivables Prepaid expenses Accounts payable and accrued expenses Accrued payroll and benefits Deferred lease liability Deferred revenue
$ (262218)
71649
(21907) (47426) 7070 (25238) (4677)
-
$ (76168)
76717
56044(63)
2160967924880725000
NET CASH (USED FOR) PROVIDED FROM OPERATING ACTIVITIES (282747) 179870
CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment
NET CASH USED FOR
(17452) (66887)
INVESTING ACTIVITIES (17452) (66887)
NET (DECREASE) INCREASE IN CASH (300199) 112983
Cash at beginning of year
CASH AT END OF YEAR $
917184
616985 $
804201
917184
The accompanying notes are an integral part of the consolidated financial statements
- 8 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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12324
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
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FJAEJ9ED7=gtJDE79=gt7CGME
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of presentation and principles of consolidation The accompanying consolidated financial statements include the accounts of Discovery Charter School (the ldquoSchoolrdquo) and Friends of Discovery Charter School Inc (ldquoFriendsrdquo) (collectively referred to as the ldquoOrganizationrdquo) The Organizations are presenting consolidated financial statements because they have a common Board of Trustees and economic interest All intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements
The Organization The School is an educational corporation that operates as a charter school in Rochester New York On December 14 2010 (Schoolrsquos date of inception) the Board of Regents of the University of the State of New York granted the School a provisional charter valid for a term of five years and renewable upon expiration During 2016 the Schoolrsquos charter was renewed for a three-year term which expires in June 2019 The School was established to prepare students to meet the challenges of a rapidly changing world providing elementary school children real skills for the real world through an interdisciplinary program that integrates literacy language arts mathematics social studies visual arts and science
Friends was organized under the laws of the State of New York on February 9 2006 (Friendsrsquo date of inception) as a not-for-profit corporation under subparagraph (a)(5) of Section 102 of the Not-For-Profit Corporation Law as Friends of Community Charter School of Rochester Inc Friends was formed to provide funding and administrative assistance to promote the application for a charter school to provide ongoing financial and volunteer support for such school and to engage in any and all activities reasonably related to such purpose In 2009 this Organization changed its name to Friends of Discovery Charter School Inc
Financial Statement presentation The consolidated financial statements of the Organization have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America The Organization reports information regarding its financial position and activities according to three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets
These classes of net assets are defined as follows
Permanently restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Organization The Organization had no permanently restricted net assets at June 30 2018 or 2017
Temporarily restricted ndash Net assets resulting from contributions and other inflows of assets whose use by the Organization is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Organization pursuant to those stipulations
- 9 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
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DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Unrestricted ndash The net assets over which the Governing Board has discretionary control to use in carrying on the Organizationrsquos operations in accordance with the guidelines established by the Organization The Board may designate portions of the current unrestricted net assets for specific purposes projects or investment
Revenue and support recognition Revenue from public school districts is based on the number of students enrolled in the School from each district Revenue is recognized when services are performed in accordance with the charter agreement
Revenue from federal state and local government grants and contracts are recorded by the School when qualifying expenditures are incurred and billable or requirements of the grant are met
Contributions are recognized as revenue in the year the pledge is received and documented
Contributions Contributions and unconditional promises to give are recorded as unrestricted temporarily or permanently restricted support depending on the existence of any donor restrictions A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue
Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets When a donor restriction expires that is when a stipulated purpose restriction is accomplished temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions
Cash Cash balances are maintained at financial institutions located in New York State and are insured by the FDIC up to $250000 at each institution In the normal course of business the cash account balances at any given time may exceed insured limits However the Organization has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash
Cash in escrow The School maintains cash in an escrow account in accordance with the terms of its charter agreement The amount in escrow was $75000 at June 30 2018 and 2017
Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants agencies and others Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts There was no allowance for doubtful accounts at June 30 2018 and 2017
- 10 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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p`JiPHHLGOnJMLGOPFJjRQF
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Property and equipment Property and equipment are recorded at cost Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives which range from five to ten years
Deferred revenue The School records grant revenue as deferred revenue until it is expended for the purpose of the grant at which time it is recognized as revenue
Deferred lease liability The School leases its facility The lease contains pre-determined fixed escalations of the base rent In accordance with GAAP the School recognizes the related rent expense on a straight-line basis over three years which is the lease term and records the difference between the recognized rental expense and the amounts payable under the lease as a deferred lease liability
Tax exempt status The School and Friends are tax-exempt organizations under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and accordingly are exempt from federal and state taxes on income
The School files Form 990 tax returns in the US federal jurisdiction The tax returns for the years ended June 30 2015 through June 30 2018 are still subject to potential audit by the IRS Management of the School believes it has no material uncertain tax positions and accordingly it will not recognize any liability for unrecognized tax benefits
Contributed goods and services The Organization receives contributed services from volunteers to develop its academic program and to serve on the Board of Trustees These services are not valued in the financial statements because they do not require ldquospecialized skillsrdquo and would typically not be purchased if they were not contributed The Charter School received some donated transportation and special education services from the local school district The Charter School was unable to determine a value for these services
The School received contributed legal services professional development services and contributed goods which were valued at approximately $16500 and $18200 which are included in the accompanying statement of activities and changes in net assets for the years ended June 30 2018 and June 30 2017 respectively
In-kind contributionsGifts and donations other than cash are recorded at fair market value at the date of contribution
Use of estimates in the preparation of consolidated financial statements The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period Actual results could differ from those estimates
- 11 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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p`JiPHHLGOnJMLGOPFJjRQF
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE A THE ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Contrsquod
Reclassifications Certain prior year amounts have been reclassified to conform with the current year presentation
Comparatives for the year ended June 30 2017 The consolidated financial statements include certain prior year summarized comparative information in total but not by net asset class or functional classification Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America Accordingly such information should be read in conjunction with the Organizationrsquos consolidated financial statements for the year ended June 30 2017 from which the summarized information was derived
Subsequent events The Organization has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 15 2018 which is the date the financial statements are available to be issued No subsequent events requiring disclosure were noted except as disclosed in Note K
NOTE B SCHOOL FACILITY
In July 2013 the School entered into a facility lease for its current location through June 30 2016 The School renewed their lease for their current location effective July 1 2016 with an expiration date of June 30 2019 Management is currently in discussions with the landlord about extending the current lease Rent is based each year on the number of square feet used by the School and a set property management fee which may be waived if the Schoolrsquos revenue does not exceed its expenses by $50000 each year The square footage rate for the space for the fiscal year ended June 30 2017 is $935 $954 for 2018 and $973 for 2019 Rent expense incurred under this lease for the years ended June 30 2018 and 2017 was approximately $408000 and $446000 respectively
The approximate future minimum payments on this agreement based on the current square footage usage and property management fee is as follows
Year ending June 30 Amount
2019 $ 421000
- 12 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
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9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE C PROPERTY AND EQUIPMENT
Property and equipment consists of the following
Classroomplayground equipment Office equipment Computer equipment Food service equipment Leasehold improvements
Less accumulated depreciation and amortization
$
$
2018
48406 $ 18304 364859 6648 107378
545595 354114
191481 $
June 30 2017
48406 18304 347407 6648 107378
528143 282465
245678
NOTE D TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets consisted of the following
Child Nutrition Program Fresh Fruit and Vegetables Program Habits of Character and Scholarship First Grade Expedition After School Program
$
$
2018
164851 $ -
3119 -
10000
177970 $
June 30 2017
153734 3718 8550 1000 10000
177002
- 13 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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12324
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
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FJAEJ9ED7=gtJDE79=gt7CGME
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE E OPERATING LEASES
The Organization leases office equipment under non-cancelable lease agreements expiring at various dates through October 2019 The future minimum payments on these agreements are as follows
Year ending June 30 Amount
2019 $ 2002 2020 500
$ 2502
NOTE F LINE OF CREDIT
The School has available $400000 of a line of credit with a bank with interest at prime plus 15 (an effective rate of 65 at June 30 2018) There were no borrowings outstanding on this line at June 30 2018 or 2017
NOTE G RETIREMENT PLANS
The Organization participates in the New York State Teachersrsquo Retirement System (NYSTRS) This System is a cost sharing multiple employer public employee retirement system The System offers a wide range of plans and benefits which are related to years of service and final average salary vesting of retirement benefits death and disability
The New York State Teachersrsquo Retirement Board administers NYSTRS The System provides benefits to plan members and beneficiaries as authorized by the Education Law and the Retirement and Social Security Law of the State of New York NYSTRS issues a publicly available financial report that contains financial statements and required supplementary information for the System The report may be obtained by writing to NYSTRS 10 Corporate Woods Albany NY 12211-2395
The System is noncontributory for the employee except for those who joined the System after July 27 1976 and before January 1 2010 with less than ten years membership who contribute 3 of their salary Those joining on or after January 1 2010 are required to contribute 35 of their annual salary for their entire career Pursuant to Article 11 of the Education Law the New York State Teachersrsquo Retirement Board establishes rates annually for NYSTRS
- 14 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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ppP~Mz
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE G RETIREMENT PLANS Contrsquod
The Organization is required to contribute at an actuarially determined rate currently 980 of the annual covered payroll for the fiscal year ended June 30 2018 The rate applicable to the year ended June 30 2017 was 1172 The Organizationrsquos contributions made to the system was equal to 100 of the contributions required for each year The required contributions for the current year and preceding year was
2018 $ 244089 2017 270903
Effective July 2012 the School established an Employee Retirement 403(b) Plan for all employees The School may make a discretionary contribution to the Plan There were no discretionary contributions made by the School for the years ended June 30 2018 and 2017
NOTE H CONTINGENCY
Certain grants and contracts may be subject to audit by funding sources Such audits might result in disallowance of costs submitted for reimbursement by the Organization Management is of the opinion that such disallowances if any will not have a material effect on the accompanying consolidated financial statements Accordingly no amounts have been provided in the accompanying consolidated financial statements for such potential claims
NOTE I CONCENTRATIONS
At June 30 2018 and 2017 approximately 100 and 95 of grants and other receivables are due from the New York State Department of Education relating to certain grants
The Schoolrsquos primary source of funding is obtained from the New York State Department of Education and is reported as public school district income in the accompanying statement of activities and changes in net assets This funding is based on the home district of each pupil and is received from various districts The total per pupil allocation income for the years ended June 30 2018 and 2017 was $3995920 and 4045325 respectively This is approximately 87 and 86 of total operating revenue and support for the years ended June 30 2018 and 2017 respectively The per-pupil rate is set annually by the State based on the school district in which the Schoolrsquos students are located
NOTE J COMMITMENTS
The School has a yearly services agreement with a not-for-profit organization to provide administrative management human resources and information technology support This expense amounted to approximately $73980 and $63800 for the years ended June 30 2018 and 2017 respectively
- 15 -
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Contd
JUNE 30 2018 AND 2017
NOTE K SUBSEQUENT EVENT
In August 2018 the New York State Education Department (NYSED) notified the School that it had over-allocated $18572 in Title IIA funding to the School for the year ended June 30 2018 NYSED will reduce the Schoolrsquos Title IIA funding for a period of up to five years to recoup the over-allocated funding The School has not accounted for this over-allocated funding as a liability as of June 30 2018
NOTE L RENEWAL PROCESS
The School is currently in the process of renewing its charter as granted by the New York State Board of Regents The Charter currently expires June 30 2019 The renewal process includes review by New York State Education Department (NYSED) of various operational and governance aspects including fiscal health and internal controls board governance and academic performance The School has submitted its application for renewal Upon review of the application and results NYSED will determine if the charter should be renewed and if so for how long Successful charter renewals can range from one to five years At this time management of the School expects the charter to be renewed
- 16 -
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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ypRzOP|M~pNP~POpM|pPM~SPMS~NOMOzPNOM~
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
OTHER CONSOLIDATING FINANCIAL INFORMATION
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
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e`J]QFQZ^FGJ_GGH
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
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h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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p`JiPHHLGOnJMLGOPFJjRQF
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ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
NYlfPTFNOJjPGUJOjJ0YH1J2GTGOJERZNTGPYFJ3TjJLc-]a^]TK^JQYHJGOTNUPFgJVGTQQ
ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
INDEPENDENT AUDITORrsquoS REPORT ON CONSOLIDATING FINANCIAL INFORMATION
Board of Trustees Discovery Charter School
We have audited the consolidated financial statements of Discovery Charter School as of and for the year ended June 30 2018 and we have issued our report thereon dated October 15 2018 which contained an unmodified opinion on those consolidated financial statements Our audit was conducted for the purpose of forming an opinion on the consolidated financial statements as a whole The 2018 consolidating financial information hereinafter is presented for purposes of additional analysis and is not a required part of the consolidated financial statements Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements The information has been subjected to the auditing procedures applied in the audit of the consolidated financial statements and certain additional procedures including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves and other additional procedures in accordance with auditing standards generally accepted in the United States of America In our opinion the information is fairly stated in all material respects in relation to the consolidated financial statements for the year ended June 30 2018 as a whole
Rochester New York October 15 2018
- 18 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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ppP~Mz
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF FINANCIAL POSITION
JUNE 30 2018
Friends of Discovery
Discovery Charter ASSETS Charter School School Inc Eliminations Total
CURRENT ASSETS Cash $ 606894 $ 10091 $ - $ 616985 Cash in escrow 75000 - - 75000 Grants and other receivables 212741 - - 212741 Prepaid expenses 49774 - - 49774
TOTAL CURRENT ASSETS 944409 10091 - 954500
PROPERTY AND EQUIPMENT net 191481 - - 191481
TOTAL ASSETS $ 1135890 $ 10091 $ - $ 1145981
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ - $ - $ 122437 Accrued payroll and benefits 412992 - - 412992 Deferred revenue 25000 - - 25000 Deferred lease liability 4130 - - 4130
TOTAL CURRENT LIABILITIES 564559 - - 564559
NET ASSETS Unrestricted 403361 91 - 403452 Temporarily restricted 167970 10000 - 177970
TOTAL NET ASSETS 571331 10091 - 581422
TOTAL LIABILITIES AND NET ASSETS $ 1135890 $ 10091 $ - $ 1145981
- 19 -
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
CONSOLIDATING STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS
YEAR ENDED JUNE 30 2018
Friends of
Discovery
Discovery Charter
Charter School School Inc Eliminations Total
Operating revenue and support
Public school districts
Per pupil allocation income $ 3617005 $ - $ - $ 3617005
District textbooks in-kind 16310 - - 16310
Students with disabilities 378915 - - 378915
Total revenue from public school districts 4012230 - - 4012230
Federal and State grants 549502 - - 549502
Private grants 43236 - - 43236
Donated supplies materials and services 189 - - 189
Total other revenue and support 592927 - - 592927
TOTAL OPERATING
REVENUE AND SUPPORT 4605157 - - 4605157
Expenses
Program services
Regular education 3514210 - - 3514210
Special education 841048 - - 841048
Supporting services
Management and general 512117 - - 512117
TOTAL EXPENSES 4867375 - - 4867375
CHANGE IN NET ASSETS (262218) - - (262218)
Net assets at beginning of year 833549 10091 - 843640
NET ASSETS AT END OF YEAR $ 571331 $ 10091 $ - $ 581422
- 20 -
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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QNXFGNXFJHPP[JP[JOZTUJTMSNHNFTSJXFJGUSJ[XMSJP[JSNTUJSQMPISSdJiPHJGUSJON[SGIJP[JNMM OGZVSFGOmJTUNHGSHJOTUPPMOJQZOGJGNrSJXQQSVXNGSJOGSOJGPJGSHQXFNGSJGUSJSQMPIQSFGJP[ XFVXfXVZNMOJoUPJUNfSJ^SSFJVSFXSVJTMSNHNFTSdJyFTSJGUSJSQMPISSOJUNfSJ^SSF
GSHQXFNGSVmJGUSJOTUPPMJQZOGJGSHQXFNGSJGUSJHSgZSOGJ[PHJTMSNHNFTSJXFJGUSJREWLz
OIOGSQdJJ J zNfSJNMMJSQMPISSOJUNfSJ^SSFJTMSNHSVJGUHPZ]UJGUSJvwsExJREWLzJOIOGSQ
J
npN
|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
GSHQXFNGSVJGUSXHJSQMPIQSFGJNFVJHSQPfSVJGUSQJ[HPQJGUSJREWLzJOIOGSQ
`zOP_RR|Mdp
RUNFrJIPZ
42324
EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
WSEJXYZFGJYQJ[JSOTNUOHV
]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
ys
WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
NYlfPTFNOJjPGUJOjJ0YH1J2GTGOJERZNTGPYFJ3TjJLc-]a^]TK^JQYHJGOTNUPFgJVGTQQ
ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
Pz|P~QOP~PQpOpSPOpMpNP~PS~P~OPOPO~PM~POpPR~P~QPMOp-~pNPyrwx
SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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ppP~Mz
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
INDEPENDENT AUDITORrsquoS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS
PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees Discovery Charter School
We have audited in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States the consolidated financial statements of Discovery Charter School which comprise the consolidated statement of financial position as of June 30 2018 and the related consolidated statements of activities and changes in net assets functional expenses and cash flows for the year then ended and the related notes to the financial statements and have issued our report thereon dated October 15 2018
Internal Control over Financial Reporting
In planning and performing our audit of the consolidated financial statements we considered Discovery Charter Schoolrsquos internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the consolidated financial statements but not for the purpose of expressing an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of Discovery Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Organizationrsquos financial statements will not be prevented or detected and corrected on a timely basis A significant deficiency is a deficiency or a combination of deficiencies in internal control that is less severe than a material weakness yet important enough to merit attention by those charged with governance
- 22 -
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore material weaknesses or significant deficiencies may exist that were not identified Given these limitations during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses However material weaknesses may exist that have not been identified
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Discovery Charter Schoolrsquos consolidated financial statements are free of material misstatement we performed tests of its compliance with certain provisions of laws regulations contracts and grant agreements noncompliance with which could have a direct and material effect on the determination of financial statement amounts However providing an opinion on compliance with those provisions was not an objective of our audit and accordingly we do not express such an opinion The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards
We noted certain matters that we have reported to management of Discovery Charter School in a separate letter dated October 15 2018
Purpose of This Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing and not to provide an opinion on the effectiveness of the entityrsquos internal control or on compliance This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entityrsquos internal control and compliance Accordingly this communication is not suitable for any other purpose
Rochester New York October 15 2018
- 23 -
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
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lt=JDE79=gt7E
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
SCHEDULE OF FINDINGS AND RESPONSES
YEAR ENDED JUNE 30 2018
SCHEDULE OF PRIOR YEAR FINDINGS AND RESPONSES
Finding 2017-001
Statement of condition During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment
Criteria and effect of conditions According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the School review all grant documentation to ensure that revenue is recorded in the proper period
Management response Per the recommendation of Mengel Metzger Barr amp Co LLP Discovery Charter School will review all grant documentation to ensure that revenue is recorded in the proper period
Current Status During the 2018 audit no significant auditor adjustments were necessary
- 24 -
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
of $750000
Annual Financial Statement Audit Report
School Name Discovery Charter School Date (Report is due Nov 1) November 1 2018
Primary District of Location (If NYC select NYC DOE)
Greece Central School District
If located in NYC DOE select CSD -
School Fiscal Contact Name School Fiscal Contact Email School Fiscal Contact Phone
School Audit Firm Name Mengel Metzger Barr amp Co School Audit Contact Name Michelle Cain School Audit Contact Email School Audit Contact Phone
Audit Period 2017-18 Prior Year 2016-17
The following items are required to be included
1) The independent auditorrsquos report on financial statements and notes2) Excel template file containing the Financial Position Statement of Activities Cash Flow and FunctionalExpenses worksheets3) Reports on internal controls over financial reporting and on compliance
The additional items listed below should be included if applicable Please explain the reason(s) if the items arenot included Examples might include a written management letter was not issued the school did not expendfederal funds in excess of the Single Audit Threshold of $750000 the management letter response will besubmitted by the following date (should be no later than 30 days from the submission of the report) etc
Item If not included state the reason(s) below (if not applicable fill in NA)
Management Letter
Management Letter Response There is no response required from the Management Letter
Federal Single Audit (A-133) The school did not expend federal funds in excess of the Single Audit Threshold
Corrective Action Plan NA
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
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DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
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p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
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EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School Statement of Financial Position
as of June 30
2018 2017
CURRENT ASSETS Cash and cash equivalents $ 616985 $ 917184 Grants and contracts receivable 212741 190834 Accounts receivables - -Prepaid Expenses 49774 2348 Contributions and other receivables - -Other current assets - -
TOTAL CURRENT ASSETS 879500 1110366
NON-CURRENT ASSETS Property Building and Equipment net $ 191481 $ 245678 Restricted Cash 75000 75000 Security Deposits - -Other Non-Current Assets - -
TOTAL NON-CURRENT 266481 320678 ASSETS TOTAL ASSETS 1145981 1431044
CURRENT LIABILITIES Accounts payable and accrued expenses $ 122437 $ 115367 Accrued payroll payroll taxes and benefits 412992 438230 Current Portion of Loan Payable - -Due to Related Parties - -Refundable Advances - -Deferred Revenue 25000 25000 Other Current Liabilities 4130 8807
TOTAL CURRENT 564559 587404 LIABILITIES LONG-TERM LIABILITIES
Loan Payable Due in More than One Year $ - $ -Deferred Rent - -Due to Related Party - -Other Long-Term Liabilities - -
TOTAL LONG-TERM - -LIABILITIES TOTAL LIABILITIES 564559 587404
NET ASSETS Unrestricted $ 403452 $ 666638
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Temporarily restricted 177970 177002 Permanently restricted - -
TOTAL NET ASSETS 581422 843640
TOTAL LIABILITIES AND NET ASSETS 1145981 1431044
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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ppP~Mz
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School Statement of Activities
as of June 30
2018 2017
Unrestricted Temporarily Restricted
Total Total
OPERATING REVENUE State and Local Per Pupil Revenue - Reg Ed State and Local Per Pupil Revenue - SPED State and Local Per Pupil Facilities Revenue Federal Grants State and City Grants Other Operating Income Food ServiceChild Nutrition Program
TOTAL OPERATING REVENUE
$ 3617005 378915
-97649
--
300193 4393762
$ - $ --
167970 ---
167970
3617005 378915
-265619
--
300193 4561732
$ 3624309 421016
-225612
4865 10435 302589
4588826
EXPENSES Program Services
Regular Education Special Education Other Programs
Total Program Services Management and general Fundraising TOTAL EXPENSES
$ 3514210 841048
-4355258
512117 -
4867375
$ - $ ------
3514210 841048
-4355258
512117 -
4867375
$ 3600087 548054
-4148141
615104 -
4763245
SURPLUS (DEFICIT) FROM OPERATIONS (473613) 167970 (305643) (174419)
SUPPORT AND OTHER REVENUE Interest and Other Income Contributions and Grants Fundraising Support Investments Donated Services Other Support and Revenue
TOTAL SUPPORT AND OTHER REVENUE
$ - $ 43236
--
189 -
43425
- $ ------
-43236
--
189 -
43425
$ -96395
--
1856 -
98251
Net Assets Released from Restrictions Loss on Disposal of Assets CHANGE IN NET ASSETS
$ 167002
(263186) 968
-
(262218)
$ -
(76168)
NET ASSETS - BEGINNING OF YEAR PRIOR YEARPERIOD ADJUSTMENTS
$ 666638 -
$ 177002 -
$ 843640 -
$ 919808 -
$ (167002) $
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
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AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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J
npN
|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
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`zOP_RR|Mdp
RUNFrJIPZ
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EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
WSEJXYZFGJYQJ[JSOTNUOHV
]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
ys
WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
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NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
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SUTF1JIYZ0
z|P~QO
y
w
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
NET ASSETS - END OF YEAR $ 403452 $ 177970 $ 581422 $ 843640
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School Statement of Cash Flows
as of June 30
2018 2017
CASH FLOWS - OPERATING ACTIVITIES Increase (decrease) in net assets $ (262218) $ (76168) Revenues from School Districts - -Accounts Receivable - -Due from School Districts - -Depreciation 71649 76717 Grants Receivable (21907) 56044 Due from NYS - -Grant revenues - -Prepaid Expenses Accounts Payable 7070 21609 Accrued Expenses - -Accrued Liabilities (25238) 67924 Contributions and fund-raising activities - -Miscellaneous sources - -Deferred Revenue - 25000 Interest payments - -Deferred Lease Liability (4677) 8807 Other - -
NET CASH PROVIDED FROM OPERATING ACTIVITIES $ (282747) $ 179870
CASH FLOWS - INVESTING ACTIVITIES $ $ Purchase of equipment (17452) (66887) Other - -
NET CASH PROVIDED FROM INVESTING ACTIVITIES $ (17452) $ (66887)
CASH FLOWS - FINANCING ACTIVITIES $ $ Principal payments on long-term debt - -Other - -
NET CASH PROVIDED FROM FINANCING ACTIVITIES $ - $ -
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS $ (300199) $ 112983 Cash at beginning of year 917184 804201
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 616985 $ 917184
(47426) (63)
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
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p`JiPHHLGOnJMLGOPFJjRQF
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FJAEJ9ED7=gtJDE79=gt7CGME
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42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
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12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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12321
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School Statement of Functional Expenses
as of June 30
2018
No of Positions
Regular Education
Program Services Special
Education Other
Education Total
Supporting Services
Fundraising Management and General
Total
Personnel Services Costs $ $ $ $ $ $ $ Administrative Staff Personnel Instructional Personnel Non-Instructional Personnel
Total Salaries and Staff Fringe Benefits amp Payroll Taxes Retirement
700 5000
200 5900
137410 1776952
-1914362
479814 -
148682 458163
-606845 180840
-
------
286092 2235115
-2521207
660654 -
------
230486 -
30472 260958
62639 -
230486 -
30472 260958
62639 -
Management Company Fees Legal Service Accounting Audit Services Other Purchased Professional Consulting Services Building and Land Rent Lease Repairs amp Maintenance Insurance Utilities
-
117291
419178 2612
19843 -
---
15000
----
----
----
---
132291
419178 2612
19843 -
----
----
-16821 20038
3773
46575 2611 6614
-
-16821 20038
3773
46575 2611 6614
-Supplies Materials Equipment Furnishings Staff Development Marketing Recruitment Technology Food Service Student Services Office Expense Depreciation OTHER Total Expenses
80573 7364
30513 -
56710 278172
44274 13522 46572 3410
$ 3514210
13159 -
10171 ---
4919 2173 7165 776
$ 841048 $
----------- $
93732 7364
40684 -
56710 278172
49193 15695 53737 4186
4355258 $
- 22330 - 1841 - -- -- 29522 - -- -- 6032 - 17912 - 14451 - $ 512117 $
22330 1841
--
29522 --
6032 17912 14451
512117
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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52324
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]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
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WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
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NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
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vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
|Pz|P~QOP~PQpOpSPOpMpNPOPpypRO~MQNpNNPR~pNN~MPMONOPMOpOP~POMpyRpppPyrwx
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SUTF1JIYZ0
z|P~QO
y
w
r
r
u
r
12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter SchoolStatement of Functional Expenses
as of June 30
2018
- -- -
- -
- -
2017
Total
$ $ 516578 473068
2235115 2125996 30472 33116
2782165 2632180 723293 721377
16821 12873 20038 27522
136064 156734
465753 490173 5223 3545
26457 25961
116062 147433 9205 9516
40684 31539
86232 77249 278172 269082
49193 45891 21727 19404 71649 76717 18637 16049
$ 4867375 $ 4763245
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
AEJFHHCGC=gtFMJCGEH7JMC7GEHJGEM=gtJ7A=8MHJGEJ89M=FHEHJCFJF99MCltFGMEJVMEF7EJED9MFCgtJGAEJDEF7=gt7JCFJGAE
CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB04HNO8gtgtPJK0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ AEJBB1JC7J=gtJEDGEgt7C=gtJFgtHJC7Jgt=GJDEFHEJF=DJ78GHC77C=gtJFGJGAC7 G[JSPH^Jaab` GCHE
g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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OpM|pNPazPSpRMOpSPpOPzPazeP~POpPRcMOpPNp|Oz
MNNzzPOpM|pNPap~OPSza~PzPZrPOzPuxPdp|MQNpPapPM~O|RMOpSPOpPuPOpM|pNPOMe~Pz~P~pa
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J
npN
|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
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`zOP_RR|Mdp
RUNFrJIPZ
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EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
WSEJXYZFGJYQJ[JSOTNUOHV
]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
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WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
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vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
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SUTF1JIYZ0
z|P~QO
y
w
r
r
u
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
EFGHIJKLJMNNOGOPFQRJSOFQFLOQRJTPLU CDEFGEHIJ0120314J5J6F7GJ89HFGEHIJ010314
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CGEH7JFDEJgt=GJCgtltM8HEHJDFH9ME7JHCNAGJCgtltM8HEIJFJgtDCGGEgtJHFgtFNEHEgtGJMEGGEDJgtF7Jgt=GJC778EHIJGAEJ7ltA==M HCHJgt=GJED9EgtHJFEHEDFMJF8gtH7JCgtJEDltE77J=FJGAEJJCgtNMEJO8HCGJADE7A=MHJ=FJPQ21U111IJGAEJlt=DDEltGCJEJFltGC=gt
9MFgtJgtCMMJGEJ78GHCGGEHJGEJGAEJF=MM=gtCgtNJHFGEJ7A=8MHJGEJgt=JMFGEDJGAFgtJK1JHFE7JFD=HJGAEJ78GHC77C=gtJ=FJGAE
DE9=DGIJEGlt
cLGOPFJdQNOFZ
e`J]QFQZ^FGJ_GGH
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EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[J]QFQZ^FGJ_GGH
f`JSPH^Jaab
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g`JSNHQRJcOFZRJMYNOG
lt=GEIJOJlt=9EJ=FJGAEJLEHEDFMJJCgtNMEJO8HCGJH87GJGEJFCMEHJgtCGAJGAEJLEHEDFMJO8HCGJCMEFDCgtNA=87EJJVMEF7EJDEFED G=JQNRJgtCF=DHJS8CHEMCgtE7JF=DJGAEJFEHEDFMJFCMCgtNJDEK8CDEHEgtG7
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJLEHEDFMJJCgtNMEJO8HCGJF7JGAEEJHCHJgt=G G[JSNHQRJcOFZRJMYNOG` ED9EgtHJH=DEJGAFgtJPQ21U111JCgtJFEHEDFMJF8gtHCgtN
h`JicjJMZHNJkWPFJjHPLNYHJlWPHG
lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ ICJJHCHJgt=GJDEK8CDEJFJCJVJONDEEHJ9=gtJVD=ltEH8DEJ=E9=DG G[JWHPLNYHJHWPHG`
12324
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
EFGHIJKKJLMNOOHPPQJRSNTUSHJNFVJWVQXFXOGHNGPH WGGHXGXPF LMNOPQRSMOpSqPrstuvturwx
ypRzOP|M~pNP~POpM|pPM~SPMS~NOMOzPNOM~
YFOGHZTGXPFOJ[PHJTPQMSGXF]JGUSJLMNOOHPPQJRSNTUSHJNFVJWVQXFXOGHNGPHJWGGHXGXPFJRN^MSO
LUNHGSHJOTUPPMOJQZOGJTPQMSGSJGUSJGN^MSOJGXGMSVJ_`Kab_`KcJLMNOOHPPQJRSNTUSHJNFV
WVQXFXOGHNGPHJWGGHXGXPFJGPJHSPHGJTUNF]SOJXFJGSNTUSHJNFVJNVQXFXOGHNGPHJOGN[[XF]
VZHXF]JGUSJ_`Kab_`KcJOTUPPMJISNHdJeMSNOSJHPfXVSJGUSJ[ZMMJGXQSJSgZXfNMSFGJhiREjJP[ OGN[[JPFJkZFSJl`mJ_`KanJGUSJiREJ[PHJNFIJVSNHGSVJOGN[[J[HPQJkZMIJKmJ_`KaJGUHPZ]UJkZFS
l`mJ_`KcnJGUSJiREJ[PHJNVVSVJOGN[[J[HPQJkZMIJKmJ_`KaJGUHPZ]UJkZFSJl`mJ_`KcnJNFVJGUS
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ZOXF]JGUSJGN^MSOJHPfXVSVd
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PMNNzzpM|pNPz~YtZrtws
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_dJWVQXFXOGHNGPHJePOXGXPFJWGGHXGXPFJRN^MS
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J
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|dJiPHJSHOSTGXfSJPHJTZHHSFGJSQMPISSOJoUPOSJTMSNHNFTSJUNOJ^SSFJVSFXSVmJUNfSJIPZ
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`zOP_RR|Mdp
RUNFrJIPZ
42324
EFGHIJKLJMFNOHGPQPORJSOTNUOHV LMNOPQRSMOpSqPrstuvturwx
WSEJXYZFGJYQJ[JSOTNUOHV
]XOHGPQPORJTFRJMFNOHGPQPOR^JTVJYQ
_`ab`Kc
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WSEJXYZFGJYQJ[JXOHGPQPOR
SOTNUOHVJTVJYQJ_`ab`Kc
yv
dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
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GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
wP~OMPz|P~QOP~PQpOpSPOpMpNPyrwx
uPz|P~QOP~PQpOpSPOpMpNPOPMOPpMNOPOppPpMN~PpppOMPSSpP~PNp~SMPMNN~~POpM-pyRpppPyrwx
yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
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SUTF1JIYZ0
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y
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r
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u
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
K`JEnONFLJPXJloYOHNJEULHPmJMLLPYFG
AGG97I00gtE7EHLlt7=LDE9=DG7FM8CHDEJCEgtlt=H0DE79031MKB09ltT1ltFMltE0
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=JDE79=gt7E G[JEULHPmJnONFL`
p`JiPHHLGOnJMLGOPFJjRQF
OJiPHHLGOnJMLGOPFJjRQFJF=DJO8HCGJLCgtHCgtN7JFgtHJNFgtFNEHEgtGJ6EGGEDJ=Elt=HHEgtHFGC=gt7UJgtACltAJH87G CgtltM8HEI
FJAEJ9ED7=gtJDE79=gt7CGME
GJAEJHFGEJFltGC=gtJgtF7JGFUEgtUJ=DJgtCMMJGEJGFUEgt
ltJIE7ltDC9GC=gtJ=FJGAEJFltGC=gtJGFUEgt
HJJCHEgtltEJ=FJCH9MEHEgtGFGC=gtJCFJFJFCMFGME lt=JDE79=gt7E
EVWRQFQGOPFJXPHJFPGJYWRPQNOFZ lt=Jlt=DDEltGCJEJFltGC=gtJ9MFgtJgtF7JDEK8CDEHJGAC7JEEFD G[JiPHHLGOnJMLGOPFJjRQF`
42324
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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EFGHIJKKJLMNOOHPPQJRSNTUSHJNFVJWVQXFXOGHNGPH WGGHXGXPF LMNOPQRSMOpSqPrstuvturwx
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
DISCOVERY CHARTER SCHOOL
ADVISORY COMMENT LETTER
JUNE 30 2018
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
EFGHIJKLJMNFOFPNOQJRSHTNPSUJVWFGOPGJXFYWHZOGNWF LMNOPQRSMOpSqPrrstusvtrw
xpypzONP|~PMzSPQMPPMQOpSPNNPNQSPpzOpPOpPzMzMPzOMOPzMOzpQpNOpSPMzSPQRMSPOpPzSpRpzSpzOPMQSONPpROPMzSPzOpzMPzONPpRONPMNPzpPzpSp
[XRV]E^_JVRJ`^EaEbcRdRSPGNWFJeSOLNFf
ghJRPiWWQJjOUSLJMNUPOQJVWFGOPGJXFYWHZOGNWF
0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO 0PMNpSP1NMP~zOMO |Mp
3NpRP0MM
khJlgLNGJMNHZJVWFGOPGJXFYWHZOGNWF
0PQSOP~zOMO 0PQSOP~zOMO 0PQSOP~zOMO pMNPlt=zyPltO |Mp
ppP~Mz
hhJXYJOiiQNPOjQSkJiQSOUSJiHWTNLSJPWFGOPGJNFYWHZOGNWFJYWHJGiSJUPiWWQlUJWgGUWgHPSL
YNFOFPNOQJUSHTNPSUJYNHZh
1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
October 15 2018
To the Board of Trustees Discovery Charter School
In planning and performing our audit of the financial statements of Discovery Charter School (the ldquoCharter Schoolrdquo) as of and for the year ended June 30 2018 in accordance with auditing standards generally accepted in the United States of America we considered the Charter Schoolrsquos internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements but not for the purpose of expressing an opinion on the effectiveness of the Charter Schoolrsquos internal control Accordingly we do not express an opinion on the effectiveness of the Charter Schoolrsquos internal control
A deficiency in internal control exists when the design or operation of a control does not allow management or employees in the normal course of performing their assigned functions to prevent or detect and correct misstatements on a timely basis A material weakness is a deficiency or a combination of deficiencies in internal control such that there is a reasonable possibility that a material misstatement of the Charter Schoolrsquos financial statements will not be prevented or detected and corrected on a timely basis A reasonable possibility exists when the likelihood of an event occurring is either reasonably possible or probable as defined as follows
bull Reasonably possible The chance of the future event or events occurring is more than remote but less than likely
bull Probable The future event or events are likely to occur
Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses Given these limitations during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses However material weaknesses may exist that have not been identified
During the course of our audit of the financial statements of the Charter School as of and for the year ended June 30 2018 we have updated the status of the following comment that was included in our letter dated September 21 2017 and is included in our current letter for informational purposes We did consider this matter to be a significant deficiency in the prior year
- 2 -
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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1P|Mp ~zOMO Mzy M 2zp pMNPBO2pNz SSpNN 1
2pp zzpP~Q6p QzOzy
12321
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Significant audit adjustment During our audit we noted grant revenue was overstated Management recorded grant revenue for a grant that had a stated purpose of support in funding for the Schoolrsquos summer learning program This resulted in a significant audit adjustment According to accounting principles generally accepted in the United States of America grant revenue should be recognized as it is earned The summer learning program took place subsequent to June 30 2017 therefore cash received from this grant should have been recorded as deferred revenue on the consolidated statement of financial position until the program took place
Recommendation We recommend the Charter School review all grant documentation to ensure revenue is recorded in the proper period
Status as of June 30 2018 During our 2018 audit we noted revenue was recorded in the proper periods
This communication is intended solely for the information and use of management the Finance Committee the Board of Trustees and others within the Charter School and is not intended to be and should not be used by anyone other than these specified parties
We appreciated the outstanding cooperation from your staff that our personnel received during the audit of the Charter Schoolrsquos financial statements Should you have any questions or comments please contact Michelle Cain or Kate Welc
Very truly yours
MENGEL METZGER BARR amp CO LLP
- 3 -
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
P
10012018 BEGINNING BALANCE $7500000
NUMBER OF DEPOSITSCHECKS PAID 0 0
FOR INQUIRIES CALL HENRIETTA (585) 427-2906
ACCOUNT TYPE
COMMERCIAL CHECKING
ACCOUNT NUMBER STATEMENT PERIOD
100118 - 103118
BEGINNING BALANCE $7500000
DEPOSITS amp CREDITS 000
LESS CHECKS amp DEBITS 000
LESS SERVICE CHARGES 000
ENDING BALANCE $7500000
POSTING DATE TRANSACTION DESCRIPTION DEPOSITS amp OTHER
CREDITS (+) WITHDRAWALS amp OTHER DEBITS (-)
DAILY BALANCE
DISCOVERY CHARTER SCHOOL ESCROW ACCOUNT 133 HOOVER DR ROCHESTER NY 14615
00 0 00172M NM 086
ACCOUNT ACTIVITY
000000
PAGE 1 OF 2
MANUFACTURERS AND TRADERS TRUST COMPANY PO BOX 22900 - 255 EAST AVENUE ROCHESTER NY 14692-9964
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
New York State Education Department Request for Proposals to Establish Charter Schools Authorized by theshy
Board of Regentsshy
2018-19 Budget amp Cash Flow Template
General Instructions and Notes for New Application Budgets and Cash Flows Templates
1 Complete ALL SIX columns in BLUE 2 Enter information into the GRAY cells
3 Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item
4
School district per-pupil tuition information is located on the State Aid website at httpsstateaidnysedgovcharter Rows may be inserted in the worksheet to accomodate additional districts if necessary
5
The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory Where applicable please reference the page number or section in the application narrative that indicates the assumption being made For instance student enrollment would reference the applicable page number in Section I C of the application narrative
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
- - -
- - -
- - -
- - - -
- - -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
Total Revenue Total Expenses
Net Income Actual Student Enrollment
Total Paid Student Enrollment
REGULAR EDUCATION
SPECIAL EDUCATION
4231560 806768 3059729 1211620 1171831 (404852)
258 22 258 22
OTHER
---
FUNDRAISING MANAGEMENT amp GENERAL
- -- 917311 - (917311)
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER
SUPPORT SERVICES
FUNDRAISING MANAGEMENT amp
GENERAL TOTAL
REVENUE REVENUES FROM STATE SOURCES
Per Pupil Revenue CY Per Pupil Rate District of Location (Greece Central School District) $1237900 Rochester City School District $1368400 East Irondequoit School District $1295700 School District 4 (Enter Name) School District 5 (Enter Name)
222822 37137 3243108 259996
38871 -- -- -
3504801 297133
-----
- -- -- -- -- -
259959 3503104
38871 --
3801934
Special Education Revenue Grants
Stimulus Other
Other State Revenue TOTAL REVENUE FROM STATE SOURCES
REVENUE FROM FEDERAL FUNDING IDEA Special Needs Title I Title Funding - Other School Food Service (Free Lunch) Grants
Charter School Program (CSP) Planning amp Implementation Other
Other Federal Revenue TOTAL REVENUE FROM FEDERAL SOURCES
LOCAL and OTHER REVENUE Contributions and Donations Fundraising Erate Reimbursement Interest Income Earnings on Investments NYC-DYCD (Department of Youth and Community Developmt) Food Service (Income from meals) Text Book Other Local Revenue
TOTAL REVENUE FROM LOCAL and OTHER SOURCES
TOTAL REVENUE
- 475000
- -- -
70000 -3574801 772133
- 34635 167185
46007 -317282 -
- -16620 -
547094 34635
35000 -58355 -
- -- -- -
16310 -- -
109665
4231560 806768
-
---
----
---
-------
- -
- -- -- -
- -- -- -- -
- -- -- -
- -- -- -- -- -- -- -
475000
--
70000 4346934
34635 167185
46007 317282
-16620
-581729
35000 58355
---
16310 -
109665
5038328
EXPENSES ADMINISTRATIVE STAFF PERSONNEL COSTS No of Positions
Executive Management 100 72028 - - - 72028 144056 Instructional Management 300 106478 55000 - - - 161478 Deans Directors amp Coordinators 300 68614 130679 - - 33250 232543
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
- -
- - -
- - - -
- -
- -
- -
- -
Discovery Charter School PROJECTED BUDGET FOR 2018-2019
July 1 2018 to June 30 2019Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING MANAGEMENT amp
GENERAL Total Revenue 4231560 806768 - - -
Total Expenses 3059729 1211620 - - 917311 Net Income 1171831 (404852) - - (917311)
Actual Student Enrollment 258 22 Total Paid Student Enrollment 258 22
TOTAL
5038328 5188660 (150332)
-280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
CFO Director of Finance - - - - - -Operation Business Manager 100 8081 - - - 72727 Administrative Staff 200 9318 - - - 83862
TOTAL ADMINISTRATIVE STAFF 10 264519 185679 261867
INSTRUCTIONAL PERSONNEL COSTS Teachers - Regular 1900 1012126 - - - -Teachers - SPED 1300 - 640689 - - -Substitute Teachers - - - - - -Teaching Assistants 200 55350 - - - -Specialty Teachers 500 224387 - - - -Aides 300 64911 64911 - - -Therapists amp Counselors 100 32214 32214 - - -Other - - - - - -
TOTAL INSTRUCTIONAL 43 1388988 737814
NON-INSTRUCTIONAL PERSONNEL COSTS Nurse - - - - - -Librarian - - - - - -Custodian - - - - - -Security - - - - - -Other 185 - - - - 32000
TOTAL NON-INSTRUCTIONAL 2 32000
SUBTOTAL PERSONNEL SERVICE COSTS 55 1653507 923493 293867
PAYROLL TAXES AND BENEFITS Payroll Taxes 165351 92349 - - 29387 Fringe Employee Benefits 189068 46175 - - 14694 Retirement Pension 164361 91267 - - 11191
TOTAL PAYROLL TAXES AND BENEFITS 518780 229791 55272
TOTAL PERSONNEL SERVICE COSTS 2172287 1153284 349139
CONTRACTED SERVICES Accounting Audit - - - - 30000 Legal - - - - 13000 Management Company Fee - - - - -Nurse Services - - - - -Food Service School Lunch - - - - 283691 Payroll Services - - - - 4500 Special Ed Services - - - - -Titlement Services (ie Title I) - - - - -Other Purchased Professional Consulting 161795 23255 - - 47500
TOTAL CONTRACTED SERVICES 161795 23255 378691
SCHOOL OPERATIONS Board Expenses - - - - 250
-80808 93180
712065
1012126 640689
-55350
224387 129822
64428 -
2126802
----
32000 32000
2870867
287087 249937 266819 803843
3674710
30000 13000
--
283691 4500
--
232550 563741
250
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
- -
- - -
- -
Discovery Charter School
REGULAR EDUCATION
SPECIAL EDUCATION
TOTAL ENROLLED
18 3 21 237 19 256
3 - 3 --
258 22 280
Classroom Teaching Supplies amp Materials 20000 - - - - 20000 Special Ed Supplies amp Materials - 6000 - - - 6000 Textbooks Workbooks 27729 3081 - - - 30810 Supplies amp Materials other - - - - - -Equipment Furniture 8000 - - - - 8000 Telephone 15000 - - - 20474 35474 Technology 55000 20000 - - 25000 100000 Student Testing amp Assessment 9000 1000 - - - 10000 Field Trips 12000 - - - - 12000 Transportation (student) 42500 2500 - - - 45000 Student Services - other 250 - - - - 250 Office Expense - - - - 27500 27500 Staff Development 13000 2000 - - - 15000 Staff Recruitment - - - - - -Student Recruitment Marketing 5000 - - - - 5000 School Meals Lunch - - - 3000 3000 Travel (Staff) 7000 500 - - 500 8000 Fundraising - - - - - -Other 6000 - - - 2950 8950
TOTAL SCHOOL OPERATIONS 220479 35081 79674 335234
FACILITY OPERATION amp MAINTENANCE Insurance 21200 - - - 7360 28560 Janitorial - - - - - -Building and Land Rent Lease 379112 - - - 42123 421235 Repairs amp Maintenance - - - - 4080 4080 Equipment Furniture - - - - 2040 2040 Security - - - - - -Utilities 42336 - - - 4704 47040
TOTAL FACILITY OPERATION amp MAINTENANCE 442648 60307 502955
DEPRECIATION amp AMORTIZATION 52520 - - - 49500 102020 DISSOLUTION ESCROW amp RESERVES CONTIGENCY 10000 - - - - 10000
TOTAL EXPENSES 3059729 1211620 917311 5188660
NET INCOME 1171831 (404852) - - (917311) (150332)
ENROLLMENT - School Districts Are Linked To Above Entries
District of Location (Greece Central School District) Rochester City School District East Irondequoit School District School District 4 (Enter Name) School District 5 (Enter Name)
TOTAL ENROLLMENT
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School
REVENUE PER PUPIL 16401 36671 -
EXPENSES PER PUPIL 11859 55074 -
PROJECTED BUDGET FOR 2018-2019 July 1 2018 to June 30 2019
Please Note The student enrollment data is entered below in the Enrollment Section beginning in row 155 This will populate the data in row 10 REGULAR
EDUCATION SPECIAL
EDUCATION OTHER FUNDRAISING MANAGEMENT amp GENERAL TOTAL
Total Revenue 4231560 806768 - - - 5038328 Total Expenses 3059729 1211620 - - 917311 5188660
Net Income 1171831 (404852) - - (917311) (150332) Actual Student Enrollment 258 22 -
Total Paid Student Enrollment 258 22 280
PROGRAM SERVICES SUPPORT SERVICES
REGULAR EDUCATION
SPECIAL EDUCATION OTHER FUNDRAISING
MANAGEMENT amp GENERAL TOTAL
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Addtl per pupil to be paid out after 4119
Fresh Fruits amp Vegetables Grant
List exact titles and staff FTEs ( Full time eqiuilivalent)
School Director 10 FTE Academic Coaches 20 FTE EL Instructional Guide 10 FTE
Assistant Director 10 FTE Special Education Coordinator 10 FTE Dean 10 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Operations Manager Asst Operations Manager FTE 10 Administrative Assistant 10 FTE
Intervention 60 FTE SPED Teachers 70 FTE
Art 10 FTE Music 10 FTE PE 30 FTE Social Emotional Support Specialist 30 FTE Social Worker 10 FTE
Cafeteria Staff 185 FTE
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
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Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
Assumptions
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
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- Annot
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- Annot
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Assumptions
DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
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- Annot
- Annot
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Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
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GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
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42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
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- Annot
- Annot
- Annot
-
ldJRSMMJIPZHJOTUPPMpOJOGPHI
LUNHGSHJOTUPPMOJQNIJHPfXVSJNVVXGXPFNMJXF[PHQNGXPFJXFJGUXOJOSTGXPFJP[JGUSJWFFZNM qSPHGJN^PZGJGUSXHJHSOSTGXfSJGSNTUSHJNFVJNVQXFXOGHNGPHJNGGHXGXPFJHNGSOJNOJOPQS
GSNTUSHJPHJNVQXFXOGHNGPHJVSNHGZHSOJVPJFPGJHS[MSTGJNVfNFTSQSFGJPHJQPfSQSFGJoXGUXF
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udJLUNHGSHJOTUPPMOJQZOGJSFOZHSJGUNGJNMMJHPOSTGXfSJSQMPISSOJHSTSXfSJTMSNHNFTS
GUHPZ]UJGUSJvwsExJy[[XTSJP[JsTUPPMJeSHOPFFSMJqSfXSoJNFVJWTTPZFGN^XMXGIJhyseqWj HXPHJGPJSQMPIQSFGdJW[GSHJNFJSQMPISSJUNOJ^SSFJTMSNHSVmJOTUPPMOJNHSJHSgZXHSVJGP
QNXFGNXFJHPP[JP[JOZTUJTMSNHNFTSJXFJGUSJ[XMSJP[JSNTUJSQMPISSdJiPHJGUSJON[SGIJP[JNMM OGZVSFGOmJTUNHGSHJOTUPPMOJQZOGJGNrSJXQQSVXNGSJOGSOJGPJGSHQXFNGSJGUSJSQMPIQSFGJP[ XFVXfXVZNMOJoUPJUNfSJ^SSFJVSFXSVJTMSNHNFTSdJyFTSJGUSJSQMPISSOJUNfSJ^SSF
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dFVGHZNGPYFVJQYHJeOfYHGPFgJhOHNOFGJYQJMFNOHGPQPORJSOTNUOHV
SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
NYlfPTFNOJjPGUJOjJ0YH1J2GTGOJERZNTGPYFJ3TjJLc-]a^]TK^JQYHJGOTNUPFgJVGTQQ
ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
GOTNUOH2JfOTVOJVOONGJYFOJNYZlFJQYHJGUOJWSEJNYZFG0JhOTVOJRYJFYGJPFNZRO
fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
NYZFGORJYFIJYFNO0
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yPz|P~QOP~PQpOpSPOpMpNP~PMpPOpQpSP~OpQpPOMzP~p-pPMQOPyrwx
vPz|P~QOP~PQpOpSPOpMpNPOPO~PpMNP~PpM~PpMPpyRpppPyrwx
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
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SUOJGTiOJiOYjJPVJHOQONGPkOJYQJGUOJPFQYHlTGPYFJNYONGORJGUHYZgUJGUOJYFPFOJfYHGTJQYH
NYlfPTFNOJjPGUJOjJ0YH1J2GTGOJERZNTGPYFJ3TjJLc-]a^]TK^JQYHJGOTNUPFgJVGTQQ
ZTPQPNTGPYFV0JEFGOHJGUOJHOOkTFGJQZJGPlOJOZPkTOFGJ]WSE^JNYZFGJYQJGOTNUOHVJPFJOTNU
NYZlF0JWYHJO1TlfO2JTJVNUYYJjPGUJLbJQZJGPlOJGOTNUOHVJTFRJJUTQJGPlOJGOTNUOHV
jYZRJUTkOJTFJWSEJNYZFGJYQJLL00JdQJlYHOJGUTFJYFOJNYZlFJTffPOVJGYJTJfTHGPNZTH
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fTHTfHYQOVVPYFTV2JVZNUJTVJGOTNUOHJTVVPVGTFGV0
WSEJNYZFGJYQJZFNOHGPQPORJGOTNUOHVJYFJ_`ab`Kc2JTFRJOTNUJZFNOHGPQPORJGOTNUOHJVUYZRJiO
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12324
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
42324
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School Organization Chart 2018-19 (Adopted
618)
Board of Trustees
Assistant Director
Special EducationCoordinator
Special EducationTeachers (eg ICOT
Teachers)
Response toIntervention Teachers
(ie InterventionSupport Teacher)
Speech andLanguage Pathologist
Operations Manager
Assistant OperationsManager
Administrative AssistantFamily
Liaison
Nurse
Contracted Non-Educational Services
(eg CPA amp FoodService)
School Director
Math SSS (EL) andNew Teacher
Coordinators amp Coaches
Contracted Education Services (eg
Extended Learning-After School Program)
Teachers (egClassroom amp Special
Area Teachers) SEL Coordinator amp
Coach Social Worker amp ESOL Teacher
Social Emotional Learning Team
Leaders
Student SupportSpecialists
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-
Discovery Charter School (42018 adoption)
2018-19 School Calendar
JULY 2018 (T=0S=0)
S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST
816 FIRST DAY FOR STUDENTS 816-831 DCS has school (RCSD does not) 816-824 DCS Data Meetings amp PD (1230 Dismissal)
SEPTEMBER 93 No School (Labor Day Holiday) 94 DCS has school (RCSD does not) 914 DCS Data Meetings (1230 Dismissal)
JANUARY 2019 (T=21S=20)
S M T W T F S 1 2 3 4 5
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
AUGUST 2018 (T=12S=12)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
928 DCS Data Meetings amp PD (1230 Dismissal)
OCTOBER 105 DCS has school (RCSD does not) 108 No School (Columbus Day Holiday) 1026 DCS Data Meetings amp PD (1230 Dismissal) 1029 No School for Students (PD for DCS RCSD has school)
FEBRUARY 2019 (T=15S=15)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
SEPTEMBER 2018 (T=19S=19)
S M T W T F S
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
OCTOBER 2018 (T=22S=21)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
NOVEMBER 112 Report Card Conferences (1230 Dismissal) 116 No School for Students (PD for Teachers) 1112 No School (Veterans Day Holiday) 1121-1123 No School (Thanksgiving Recess) 1130 DCS Data Meetings amp PD (1230 Dismissal)
DECEMBER 127 DCS Data Meetings amp PD (1230 Dismissal)
1221 DCS has school (RCSD does not) 1224-11 No School (Winter Recess)
JANUARY 11 No School (New Years Day Holiday) 111 DCS Data Meetings amp PD (1230 Dismissal) 121 No School (Martin Luther King Day Holiday) 122 No School for Students (PD for DCS RCSD has school)
125 Second Report Card Sent Home
MARCH 2019 (T=20S=20)
S M T W T F S 1 2
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
2431 25 26 27 28 29 30
APRIL 2019 (T=17S=16)
S M T W T F S 1 2 3 4 5 6
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
NOVEMBER 2017 (T=18S=17)
S M T W T F S 1 2 3
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
FEBRUARY 215 DCS Data Meetings amp PD (1230 Dismissal) 218-222 No School (Presidents Week Recess)
MARCH 321 DCS Data Meetings amp PD (1230 Dismissal) 322 No School (Holiday Recess)
MAY 2019 (T=21S=21)
S M T W T F S 1 2 3 4
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
APRIL DECEMBER 2018 (T=15S=15)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 2431 25 26 27 28 29
42 amp 43 NYS ELA Test (3rd-6th grades) 415-419 No School (Spring Recess) 422 No School for Students (PD for DCS RCSD has school)
426 Report Card Conferences (1230 Dismissal)
MAY 51 amp 52 NYS MATH Test (3rd-6th grades)
JUNE 2019 (T=20S=20)
S M T W T F S 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15 16 17 18 19 20 21 22
2330 24 25 26 27 28 29 524 amp 527 No School (Memorial Day Holiday)
No School For Students 531 DCS Data Meetings amp PD (1230 Dismissal) DCS Phone 342-4032 1230 Dismissal for Students DCS Fax 342-4003 NYS Tests (3rd-6th grades) JUNE Conference Days 63 NYS SCIENCE Written Test (4th grade) School Hours 800-330
626-628 DCS has school (RCSD does not)
Q1 816-1026 Q2 1029-118 624-628 DCS Data Meetings amp PD (1230 Dismissal) School Days = 200
Q3 122-412 Q4 422-628 628 Fourth Report Card amp Last Day for Students Transportation Needed = 196
- Structure Bookmarks
-
- Annot
- Annot
- Annot
- Annot
-