Revenues
Revenue projections have not changed much since the final PPA invoice was received. However, there
were a few changes this month; (A) amendment was filed for Title I funding for an additional $27,000,
(B) there was additional contributions in the amount of approximately $4,800. (C) DOE PPA
supplemental rate is down to $200 from a projection of $300 or a reduction of projected revenue of
$32,400. Total revenue after these changes moved to $5,775,826 which is $29,857 more than what
was budgeted for the year.

Payroll and Benefits
Payroll is adjusted throughout the year for employee additions and terminations. Additionally, there
are also deductions for time off taken if the employee doesn’t not have off days available. There is a
projected savings of about $4,000 this period due to such deductions and the departure of Matthew
Gasda.
Similarly, less wages paid results in less benefits cost. Revised projection shows a saving of $7,500 for
the year.

Admin Expenses
At the end of April, Admin expenses was projected at $179,000. This was increased by $7,000 due to
mainly increase spending for Staff Appreciation and office supplies.
Classroom Expenses
Had a small increase in projection of $3,500 form increases in Athletics, field trips and senior
activities.

Summary
Overall, there is total decrease in revenues of $2,000 and a total decrease in expenses of $1,000 which
resulted in a net deficit of $ 1,000.
Summit surplus at the period ending April 30 th 2018 was $26,663. Revenue adjustments and expenses
savings for the period ending May 31 st 2018 shows a surplus of $25,708. This is $7,648 lower than the
budgeted amount of $33,356.