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.
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 established the Education Protection Account (EPA). The .25 sales tax increase expired in 2016 and the income tax increase set, which was set to expire in 2018, was extended by voters though 2030 via Proposition 55. 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 administrative salaries or benefits 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.
In FY 2018-19, based on the state formula, EPA funds for APEX Academy are estimated to be $599,445. This spending plan allocates these funds to support teacher salaries and benefits.
Expenditures (for teacher salaries and benefits): $577,471