ACADEMY STAFF REPORT RECOMMENDATIONS
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Consider and act to approve WA Resolution 25-15 adopting the Proposed Budget for Fiscal Year Ending June 30, 2026, including Committed and Assigned Fund Balances (Cayce Lay Lamas, Finance Director)
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STAFF: Cayce Lay Lamas, Finance Director
BACKGROUND:
The final proposed annual operating budget for FY 2025-2026 for Westlake Academy is $12,310,696, including a contribution to fund balance of $655,360. Capital spending, debt service costs, and certain shared service costs are included in the Town's annual operating budget.
The proposed budget reflects Westlake Academy's (WA) continuing initiatives that support the vision, mission, and values established by the governing Board of Trustees. The Academy's International Baccalaureate (IB) curriculum is built to prepare students for post-secondary success in our fast-paced and knowledge-rich world. With the understanding that our graduates must compete on a global stage, we prepare our students with 21st century specific skills to be able to successfully navigate an ever-changing globally minded marketplace. Therefore, we remain a school focused on future readiness and providing students with an internationally minded education of the highest quality, so they are well-balanced and respectful life-long learners.
DISCUSSION:
The proposed budget is prepared each year with conservative revenue projections and expenditures that are targeted to create an exceptional learning environment designed for student success and a supportive culture for all WA students and staff members to continuously develop and thrive.
The Board of Trustees discussed the budget objectives for FY 2025-2026 during a work session held on May 20, 2025. During these discussions, staff presented a draft budget for the coming year including base revenues and potential expenditures related to the academic services of Westlake Academy. Staff received direction from the Board to revise the methodology of...
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