Friends of BACPS February 29, 2024, Statements

  Balance Sheet:

• Total Cash and Current Assets of $161,598. 
  • Total available cash:
  • $36,178  in operating account with Florence Bank.
  • $125,420  in a CD account with Florence Bank.
  • Prepaid Expenses:  $2,837
• Total Property Plant & Equipment = $7,089,890
• Total Accumulated Depreciation = ($566,295)
• Fixed Net Assets after Deprecation = $6,523,595
• Total Assets of $6,688,030
• Total Liabilities of $6,496,958 ($5.65M Loan Note)
• Unrestricted Assets of $191,072
• Total Liabilities & Net Assets of $6,688,030

• Income Statement: 
  • Friends of BACPS had $389 in interest income and $32,884 in rental income 
  • Friends of BACPS also had ($18,523) in administrative expenses and ($12,870) depreciation expense total expenses ($31,394)
  • Net Income of $1,879

                  BACPS February 29, 2024 Statements

• Balance Sheet:

Assets

• Total available cash = $4,765,089
• $1,489,326 in the operating account with Florence Bank
• $81,244  in the CD account at Florence Bank
• $1,622,824  in Capital Reserve CD
• $1,571,695  in the Unrestricted CD
• Accounts Receivables = $355,522
• Note Receivables = $750,000
• Total Prepaid Expenses = $55,463
• Total Current Assets = $5,926,074
• Total Property, Plant & Equipment = $1,419,967
• Accumulated Depreciation = ($1,179,628)
• Fixed (net) Assets after depreciation= $240,339
• Total Assets = $6,166,413                         
• Liabilities
  • Total Liabilities = $388,752
• Unrestricted net assets = $5,750,524
• Total Liabilities and Net Assets = $5,777,661              

Income Statement dated February 29, 2024

• Total Revenue of $884,337
• Tuition = $647,981
• Federal Grants = $211,828
• Private Grants = $1,035
• Interest Income = $10,165

• Expenses

• Administrative Expenses = ($117,042)
  • Salaries-Admin $86,757
  • Other professional serv. $6,005
  • Recruitment/advertising $4,035
    • Total Students Expenses = ($409,371)
      • Salaries – teachers and para $293,998
      • Teachers – contracted $8,872
      • Book expenses - $45,885
      • Instructional supplies & materials - $28,379
    • Other Student Expenses = ($169,940)
      • Salaries – other student services - $66,473
      • Student transportation - $23,513
      • Athletics services - $12,052
      • Consultants - $60,283
    • Facility Expenses = ($125,993)
      • Maintenance - $54,123
      • Fixed Charges = ($66,126)

• Total Expense = ($888,472)

Net Loss for February 2024 = ($4,135)

Overall FY 2024 net surplus    = $513,662

• There were only 9 unduplicated suspension during the month which is the lowest occurrence this year.  
• The YTD  suspension rate is 7.7% higher than February YTD 2023, which is down 3.3% from January YTD 2023
• 1-2 day suspension continue to account for roughly 50% of the suspensions.
• The trend of suspension of girls continue to be 60% of the total

• For goal #1, the CVT score for Higher Order Thinking (HOT) was 15% vs a year end target of 90%
• The CREW walkthrough indicator of 20% and 40% for our two goals continue to fall short of our 90% target.
• We continue to focus on working with staff with incremental steps of improvement.

• We continue to work on rebuilding school culture with a focus on the heighten sense of urgency with the enforcement of our Electronic Device, Uniform and Hall Pass policies.
• We initiated  a reset on the enforcement of these policies March 11.
• Students are more compliant with our uniform policy but we still have some work to do relative to electronics.
• We've made some changes to our policy regarding requirements for passing to the next grade and who could attend summer school.
• We had several student assemblies to relay this message to them as well as communications to families. 

• Frank gave brief overview of his experience with our staff that attended a restorative justice site visit to Polaris school in Chicago and training.
• We are looking to implement some of their best practice at Baystate.

• Tim discussed Florence bank and MassDevelopment hesitation to finance the gym construction project pending the outcome of our charter renewal condition
• Tim also expressed a concern regarding our budget based on the uncertainty of our enrollment and expenses coming out of COVID related revenue.
• Tim's recommendation is to halt the project for now.