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<br />B. Provide a three-year budget proposal. <br /> <br />Attached is a three (3) year budget proposal demonstrating sound fInancial planning <br />. and management related to expected student enrollment] revenues and expenditures. <br />Revenue projections were generated from a template provided by Steve Dess of <br />Minnesota Association of Charter Schools and Dick Guevremont. See Proposed <br />Three- Year Budget at Tab No. 7. <br /> <br />C. Provide a written narrative describing assumptions used in revenue and <br />expense proJectIons. <br /> <br />Salary and benefIt compensation for teachers will be competitive for the community, <br />and metropolitan region. The planning committee has already connected a majority <br />of the required teaching staff who desire to continue their professional endeavors in <br />an atmosphere concentrated on academics and family involvement. Many of the <br />teachers have special education training, experience and master education. Once <br />approval of sponsorship is obtained] the planning committee will work at securing <br />employment commitments from the interested teachers. See Three Year Teacher <br />Salary Schedule at Tab No.8. <br /> <br />A majority of the budget consists of the initial start-up costs] build-out and <br />technology needs. Numerous school budgets in the Roseville and Mapkwood area <br />were used in comparison in compiling the budget. Expenses are also consistent \\.ith <br />the experiences of other charter schools in the metro area. The projected fInances <br />provide a favorable fund balance for the first three years of operation. <br /> <br />The projected revenues assume a first year student population of approximately 129 <br />students starting in the Fall of2000] grades K through 8th. The second year <br />projection is 158 students] with a ma.ximum capacity of 200 after three years. In the <br />event initial enrollment exceeds 129, Family Academy will be able to adjust its <br />budget to manage up to 200 students its fIrst year of operation, <br /> <br />The student ratio asswnption is based on the ten school districts that 916 services, <br />Family Academy is centrally located and will draw students from the Roseville, ~e\\. <br />Brighton, Moundsview, Mapkwood and North St. Paul areas. Family Academy <br />aims at servicing special needs children. <br /> <br />Family Academy Proposal - Page 13 <br />February 291 2000 <br />