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ICEF Public Schools

Education Protection Account (EPA) Spending Plan

With the passage of Proposition 30, which temporarily increases the personal income tax rates for upper-income taxpayers and the sales tax rate for all taxpayers, the state officially established the Education Protection Account (EPA). Revenue generated from the increased taxes are deposited into the EPA and later distributed to districts and charter schools.

While funds from the EPA are part of a district’s or charter school’s general purpose funding, Proposition 30 specifies that EPA funds may not be used for salaries or benefits of administrators or any other administrative costs.

A spending plan must be approved by the governing board during a public meeting. EPA funds cannot be used for the salaries or benefits of administrators or any other administrative costs. Each year, the LEA must publish on its website how much money was received from the EPA and how the funds were expended.
 
2015-2016 ICEF Annual Audit
FY 2017-2018 Education Protection Account Spending Plan

About the Education Protection Account...

With the November 2012 passage of Proposition 30, which temporarily increases the personal income tax rates for upper‐income taxpayers and the sales tax rate for all taxpayers1, the state established the Education Protection Account (EPA). Revenue generated from the increased taxes are deposited into the EPA and distributed to districts and charter schools on a quarterly basis.

While funds from the EPA are part of a district’s or charter school’s general purpose funding, Proposition 30 specifies that EPA funds may not be used for administrative salaries or benefits or any other administrative costs.

From an accounting perspective, EPA revenue and expenditures must be coded separately (under a new resource code, 1400, created specifically for EPA funds) and from an operational perspective, governing boards must determine the use of EPA funds at an open public meeting. This determination must occur annually.

FY 2017‐18 Education Protection Account Spending Plan

In FY 2017‐18, EPA funds are estimated to be approximately 25% of a school’s total Local Control Funding Formula entitlement. For ICEF Public Schools, this equates to $4,512,997. The breakdown by school is detailed below:

FDES 252,378
IIES 518,957
IIMS 334,516
IVES 440,380
IVMS 278,921
LDES 546,589
VPES 655,344
VPMS 499,479
VPHS 986,433
Total $ 4,512,997

The spending plan allocates these funds to support teacher salaries and benefits.

Proposed Motion Language:

“I hereby move to adopt the ICEF Public Schools EPA Spending Plan, which will allocate FY17‐18 EPA funds estimated to be $4,512,997 toward teacher salaries.

 

1 The .25 sales tax increase expired in 2016; the income tax increase set to expire in 2018, was extended by voters though 2030 via Proposition 55.

FY 2016-17 Education Protection Account Spending Plan

FY 2016-17 Education Protection Account Spending Plan

In FY 2016-17, EPA funds for ICEF Public Schools are estimated to be 25% of a school’s total Base Rate funding entitlement.For ICEF Public Schools, this equates to $4,467,765. The breakdown by schools is detailed below:

IILA $238,401
IIES $497,768
IIMS $290,770
IVES $434,383
IVMS $302,888
ILDP $465,070
VPES $697,007
VPMS $568,475
VPHS $973,001
Total $4,467,765

The spending plan for ICEF Public Schools allocates these funds to support teacher salaries.

FY 2015-16 Education Protection Account Expenditure Report
ICEF PUBLIC SCHOOLS

EPA -Education Protection Account

FY15-16 Expenditure Report
  IILA IIES IIMS IVES IVMS LDES LDMS VPES VPMS VPHS TOTAL
EPA Funding Received 239,253 486,006 291,713 454,607 316,258 399,904 380,621 670,505 553,161 995,798 4,787,826
Expenditures:                      
Teacher Salaries 185,491 381,706 225,774 360,954 251,628 310,302 307,303 532,197 446,196 793,163 3,794,715
Teacher Benefits (STRS, Medicare, SUI, H&W) 53,762 104,300 65,939 93,653 64,630 89,602 73,318 138,308 106,965 202,635 993,111
TOTAL: 239,253 486,006 291,713 454,607 316,258 399,904 380,621 670,505 553,161 995,798 4,787,826
Balance: - - - - - - - - - - -
ICEF PUBLIC SCHOOLS

EPA -Education Protection Account

FY14-15 Expenditure Report
  FDES FDMS FDHS IIES IIMS IVES IVMS LDES LDMS VPES VPMS VPHS TOTAL
EPA Funding Received 315,494 341,142 386,462 462,661 298,585 418,270 295,012 387,881 371,259 715,029 458,762 1,048,991 5,499,548
Expenditures:                          
Teacher Salaries 256,216 282,449 321,334 366,636 243,845 333,435 244,044 300,124 306,355 578,683 373,886 841,047 4,448,053
Teacher Benefits (STRS, Medicare, SUI, H&W) 59,278 58,693 65,128 96,025 54,740 84,835 50,968 87,757 64,904 136,346 84,876 207,944 1,051,495
TOTAL: 315,494 341,142 386,462 462,661 298,585 418,270 295,012 387,881 371,259 715,029 458,762 1,048,991 5,499,548
Balance: - - - - - - - - - - - - -