Madison Virtual Academy

SCHOOL SERVICE FUND APPROPRIATION RESOLUTION FOR ADOPTION
BY THE BOARD OF DIRECTORS OF MADISON ACADEMY

RESOLVED, that this resolution shall be the school service fund appropriations of Madison Academy for the fiscal year 2016. A resolution to make appropriations; to provide for the expenditure of the appropriations; and to provide for the disposition of all income received by Madison Academy.

BE IT FURTHER RESOLVED, that the total revenues estimated to be available for appropriations in the school service fund of Madison Academy for fiscal year 2016 is as follows.

                                                                                                                  Initial Approved               Approved                   Approved
                                                                                                                  Budget                             Amendment                Budget
REVENUE

Fund Balance as of June 30, 2015 3,037   3,3037
(1XX) Local Sources 2,000 0 2,000
(2XX) State Sources 2,000 2,010 4,010
(3XX) Federal Sources 2000,000 103,000 303,000
(5XX) Incoming Transfers 0   0
TOTAL AVAILABLE TO APPROPRIATE $207,037 105,010 $312,047

BE IT FURTHER RESOLVED, that $308,051 of the total available to appropriate in the school service fund is hereby appropriated in the amounts and for the purposes set forth below:

EXPENDITURES

(2XX) Food Service 205,757 102,294 308,051
Outgoing Transfers and Other Transactions 0   0
TOTAL APPROPRIATED 205,757 102,294 308,051
       
EXCESS REVENUE ($1,757) 2,716 $959
       
FUND BALANCE JUNE 30, 2016 1,280 2,716 $3,996

APPROVED BY BOARD OF DIRECTORS, regular board meeting, on 1-26-16
Board Secretary (signed)

GENERAL APPROPRIATION RESOLUTION FOR ADOPTION BY THE BOARD OF DIRECTORS OF MADISON ACADEMY

RESOLVED, that this resolution shall be the general appropriations of Madison Academy for the fiscal year 2016. A resolution to make appropriation; to provide for the expenditure of the appropriations; and to provide for the disposition of all income received by Madison Academy.

BE IT FURTHER RESOLVED, that the total revenues estimated to be available for appropriations in the general fund of Madison Academy for fiscal year 2016 is as follows:

                                                                                                              Approved               Approved                   Approved
                                                                                                              Budget                   Amendment                Budget
REVENUE

Fund Balance as of June 30, 2015 1,486,535   1,486,535
(1XX) Local Sources 25,000 23,000 48,000
(2XX) State Sources 7,053,675 -68,152 6,985,523
(3XX) Federal Sources 352,934 15,955 368,889
(5XX) Other Sources 30,000 12,000 42,000
TOTAL AVAILABLE TO APPROPRIATE $8,948,144 -17,197 $8,930,947

BE IT FURTHER RESOLVED, that $7,438,509 of the total available to appropriate in the general fund is hereby appropriated in the amounts and for the purposes set forth below:

EXPENDITURES

(11X) Elementary 2,331,818 303,433 2,635,251
(11X) High School 520,033 125,584 645,617
(11X) Preschool 156,847 -56,697 100,150
(11X) Summer School 0 379 379
(12X) Special Education 357,120 -19,292 337,828
(12X) Compensatory Education 509,552 -217,665 291,887
(21X) Student Services 46,539 55,745 102,284
(22X) Staff Services 17,036 7,623 24,659
(23X) General Administration 36,450 5,000 41,450
(23X) Executive Administration 867,629 -18,318 849,311
(24X) School Administration 475,532 -7,312 468,220
(25X) Business Services 32,000 322 32,322
(26X) Operations and Maintenance 700,813 -59,478 641,335
(27X) Pupil Transportation Services 160,000 25,000 185,000
(28X) Other Support Services 10,000 -2,000 8,000
(29X) Afterschool Athletics 43,600 -5,000 38,600
(35X) Afterschool Student Care 0 4,683 4,683
(5XX) Debt principal and interest 11,000 -11,000 0
Outgoing Transfers and Other Transactions 1,031,533 0 $7,438,509
       
TOTAL APPROPRIATED $7,307,502 131,007 $7,438,509
       
EXCESS REVENUE (EXPENDITURES) $154,107 -148,204 $5,903
       
FUND BALANCE JUNE 30, 2016 1,640,642 -148,204 $1,492,438

APPROVED BY BOARD OF DIRECTORS, regular board meeting on, 1-26-2016
Board Secretary (signed)