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APPENDIX V - BUDGET TEMPLATE
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SCHOOL DISTRICT OF PHILADELPHIA
NEW CHARTER SCHOOL APPLICATION
GUIDANCE
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INTRODUCTION
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Budget Template Format
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The Budget Template consists of three worksheets: Staff List, Benefits, and 5 Year Budget. These three worksheets work together to minimize the need for you, the applicant, to re-enter the same information. There are built-in formulas to calculate various values as well as to transfer information between the worksheets. Certain cells are locked to prevent you from accidentally misplacing values or deleting formulas that are specifically designed to simplify your submission.
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ACCOUNTING PRINCIPLES
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PA Chart of Accounts
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The Budget Template is built using the PA Chart of Accounts function and object codes. Descriptions of relevant codes can be found in SECTION E, SECTION F, and SECTION G of the Chart of Accounts.
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FY25-26 PA Chart of Accounts
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Basis of Accounting
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The budget should be presented on a budgetary basis.
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Fund Accounting
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The presented budget should be limited to General Fund revenues and expenditures. Any other proposed Funds do not need to be detailed in this template, but should be described in the budget narrative. Any transfers from the General Fund to these proposed Funds must be included as expenditures in this budget template. Correspondingly, any transfers to the General Fund from these proposed Funds must be included as revenues in this budget template.
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A Note on Food Services
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Charter Schools can establish a Proprietary Fund for their food services program. However, for purposes of this application, applicants must include all food services revenues and expenditures in the General Fund.
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COMPLETING THE TEMPLATE
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Order of Operations
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Relevant information in the Staff List worksheet will automatically be populated into the Benefits and 5 Year Budget worksheets, and relevant Benefits worksheet information will be automatically transferred to the 5 Year Budget worksheet. As such, the most efficient way to enter your proposed budget is to begin with the Staff List worksheet and end with the 5 Year Budget worksheet.
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Year 0 Budgeting
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A Year 0 column is included in all three worksheets. Year 0 constitutes the time between Board approval of a new charter application and the first school year the school plans to admit students. All revenues, financing sources, and expenditures for Year 0 must be entered.
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Staff List Worksheet Instructions
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For each row that is used, provide a description of the position budgeted for in that line. All staff members who will receive a W-2 from the proposed school must be included in the staff list, with each position assigned an FTE value. Any staff member who will receive a 1099 or is contracted through a third-party agency is not an employee as defined by the IRS, and should be accounted for in the relevant location elsewhere within the budget. This includes substitute services provided by third-party vendors. For positions that are less than 1.0 FTE, include each position on a separate line. If there is insufficient space to include all <1.0 FTE positions separately, combine them in a logical manner and include a breakout list in the budget narrative.
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Benefits Worksheet Instructions
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The Budget Template is designed to autofill several pieces of information in this worksheet. In the Group Insurance section, the COVERED EMPLOYEES column is autofilled using the FTE value from the Staff List worksheet, however the cells are not locked to allow the figure to reflect a number of covered employees that may be different from the FTE value. Insurance rates must be entered as a per-covered employee value. If certain positions are not proposed to receive health insurance, provide a concise list within the application narrative of the ineligible positions as well as text explaining why these positions will not be offered health insurance benefits. FICA and Retirement wages are autofilled using information from the Staff List worksheet, however, the WAGES column is not locked to account for the possibility that not all wages are subject to Social Security tax or eligible for retirement benefits. FICA rates are fixed at 6.2% and 1.45%. Retirement rates must be entered. Unemployment and Workers' Compensation and All Other Benefits must include an appropriate base and rate for each benefit that is proposed to be offered to employees. The base can either be as a per-FTE value or as a wage, with rates entered accordingly.
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Useful Benefits Resources:
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PA Unemployment Compensation Employer Services
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PSERS Employer Contribution Rates
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5 Year Budget Worksheet Instructions
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In addition to budget information, enrollment and per-pupil projections must be entered. These will be used to autofill the Regular Education and Special Education Revenues within the worksheet. Any use of an Other Revenues or Other Financing Sources row requires a description of the revenue or financing source within the budget narrative. The Salaries and Benefits values will autofill based on information in both the Staff List and Benefits worksheets. For each of the remaining Expenditures rows, include a description of the expenditure in Column C. If the description cell is insufficient, include more detail in the budget narrative.
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Useful Budget Resources:
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Charter School Tuition Rates: FY01 - present
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