TOWN STAFF REPORT RECOMMENDATIONS
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Westlake Academy Budget Workshop (Cayce Lay Lamas, Finance Director)
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STAFF: Cayce Lay Lamas, Finance Director
BACKGROUND:
The Board of Trustees is required to adopt an annual operating budget for Westlake Academy prior to the end of the current fiscal year (June 30). Staff will present the draft proposed budget of $12,331,912 and the Board will be able to ask questions and provide feedback that will be incorporated into the final proposed budget. The proposed budget will be made available for public inspection ahead of the public hearing, scheduled for June 17.
DISCUSSION:
The FY 2025-2026 draft budget for Westlake Academy totals $12,331,912. Capital spending, debt service, and shared services payroll costs are included in the Town's annual budget.
The budget includes the following changes from the prior fiscal year's amended budget:
* Increase in Blacksmith donations
* Reduction in direct contribution from the Town
* No salary increases outside the minimal step raises based on the compensation plan
* No changes in health care costs or contributions
* Decrease in FTEs (from 114.34 to 111)
o Reallocation of secondary math and science positions
o Removal of SIS Administrator, IT Technician, and Building Engineer
o Cut Custodian position, funds reallocated to janitorial services
* Inclusion of Academy operating services/supplies previously budgeted by Town
* Contribution to fund balance of $69,419
Local revenues are projected to increase by $369,859, due in large part to the increased Blacksmith donation pledge, to $3,657,493. State revenues are projected to increase $159,426 due to minimal inflationary increases and average daily attendance to $8,674,419.
Personnel expenditures are projected to decrease by $196,315 due to elimination of currently vacant support staff positions to $9,276,202. Services are expected to increase by $301,891 to $1,497,917 solely due to the addition of shared services operating expendi...
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