Charter Documents & Compliance

CHARTER DOCUMENTS & COMPLIANCE
Keeping Parents Informed – Transparency


APEX Academy is a charter public school governed by a nonprofit board of directors and overseen by the Los Angeles Unified School District. On January 12, 2016, the LAUSD board voted to approve a Board Resolution, “Keeping Parents Information: Charter Transparency” which was passed with the support of the LA charter community. The resolution highlighted commonly requested information and data that charter public schools share with parents through their charter petitions, School Accountability Report Cards, Local Education Agency Plans, Local Control Accountability Plans, Annual Audits, and other publicly available documents.

This commonly requested information is available from APEX electronically or manually by parent request. Parents may request this information in English and any single primary language meeting the requirements of Sections 45400 through 45403 of the California Education Code. Please submit parent requests for translated information to the school’s main office.

EPA SPENDING PLAN STATEMENTS

APEX Academy 2016-2017
Education Protection Account Spending Plan

About the Education Protection Account…

With the November 2012 passage of Proposition 30, which temporarily increases the personal income tax rates for upper-income taxpayers and the sales tax rate for all taxpayers, the state officially established the Education Protection Account (EPA). Revenue generated from the increased taxes are deposited into the EPA and distributed to districts and charter schools on a quarterly basis.

While funds from the EPA are part of a district’s or charter school’s general purpose funding, Proposition 30 specifies that EPA funds may not be used for salaries or benefits of administrators or any other administrative costs.

From an accounting perspective, EPA revenue and expenditures must be coded separately (under a new resource code, 1400, created specifically for EPA funds) and from an operational perspective, governing boards must determine the use of EPA funds at an open public meeting. This determination must occur annually.

FY 2016-17 Education Protection Account Spending Plan

In FY 2016-17, EPA funds are estimated to be 15% of a school’s total Local Control Funding Formula base rate. For APEX Academy, this equates to $614,850. The spending plan for APEX Academy allocates these funds to support teacher salaries and benefits.

APEX Academy 2015-2016
Education Protection Account Spending Plan

About the Education Protection Account…

With the November 2012 passage of Proposition 30, which temporarily increases the personal income tax rates for upper-income taxpayers and the sales tax rate for all taxpayers, the state officially established the Education Protection Account (EPA). Revenue generated from the increased taxes are deposited into the EPA and distributed to districts and charter schools on a quarterly basis.

While funds from the EPA are part of a district’s or charter school’s general purpose funding, Proposition 30 specifies that EPA funds may not be used for salaries or benefits of administrators or any other administrative costs.

From an accounting perspective, EPA revenue and expenditures must be coded separately (under a new resource code, 1400, created specifically for EPA funds) and from an operational perspective, governing boards must determine the use of EPA funds at an open public meeting. This determination must occur annually.

FY 2015-16 Education Protection Account Spending Plan

In FY 2015-16, EPA funds are estimated to be 22% of a school’s total Local Control Funding Formula base rate. For APEX Academy, this equates to $545,871. The spending plan for APEX Academy allocates these funds to support teacher salaries.

APEX Academy
FY 2014-15 Education Protection Account Expenditures

With the November 2012 passage of Proposition 30, which temporarily increases the personal income tax rates for upper-income taxpayers and the sales tax rate for all taxpayers, the state officially established the Education Protection Account (EPA). Revenue generated from the increased taxes are deposited into the EPA and distributed to districts and charter schools on a quarterly basis.

While funds from the EPA are part of a district’s or charter school’s general purpose funding, Proposition 30 specifies that EPA funds may not be used for salaries or benefits of administrators or any other administrative costs.

FY 2014-15 Education Protection Account Expenditures

Allocation: $641,370

Expenditures:

Teacher Salaries: $641,370