Budget & Financials
The following budget will be voted on at the first 2020-2021 General PTO Meeting on September 26, 2020.
- Our projected income for the 2020-2021 school year is about half what we had projected in years past. Unsurprisingly, the largest impacts to our income sources is a result of COVID-19 and the prospect that, even should we return to some form of in-person education in the Spring, the probability of school-wide events will be very low.
- While the Beye-In events have been replaced with the idea of virtual parties, our conservative estimate on revenue is 10% that of previous years.
- We can not confidently expect a Fun Fair, Pancake Breakfast, or Concessions.
- A significant portion of revenue in past came from our after-school programs held at Beye (Right at School and By Discovery). At this time, Right at School is not offering any remote offerings, and By Discovery is operating within District system, so revenues have been zeroed out for this year.
- Our primary source of revenue is projected to come from a Direct Ask initiative. In years past, the PTO conducted an End-of-Year Giving campaign. This year, we will rely on a significant amount of our revenue to generosity of families giving directly to the PTO.
- There are two new revenue streams for this year: Read-a-thon and Virtual Parties. Details around these coming!
- Similar to our projected Income being half of previous years, our projected Expenses are similarly about half of previous years, as conducting virtual events significantly reduces overall costs. In addition, we projected and prioritized Expenses in three tiers. Tier 1 are our most prioritized or immovable expenses (e.g., operating costs). Tiers 2 and 3 incrementally provide more financial support to the different programs and activities.
- Based on the revenue generated, the PTO will authorize and reimburse expenses according to the Tiers. We have high confidence that we can generate the revenue needed to cover all Tier 1 expenses. Should revenues come within 75% of Tiers 2 and 3 expense amounts, the PTO will authorize and reimburse expenses according to the Tiers, respectively.
- Given the uncertainty of the times, the Expense side of the budget is intentionally semi-structured so that the PTO can react and respond to new needs and opportunities that may be arise this year. Feedback from Beye families is critical to understanding shifting and evolving needs, so please never hesitate in contacting us!
- We have about $15,000 in our Reserve Funds that has previously been earmarked for a spend down. In years past, the Reserve Fund provided financial support to one-off initiatives that had not been included in the budget (e.g., Beye Backpack Program, One Book One School).
- This year, we have earmarked $3,000 to support the E-Team, a district-wide program that provides tutoring and learning enrichment services to all Tier 3 students. The program currently has a federal grant proposal under review. Should the grant be funded, the earmarked amount would not be needed; however, should the grant not be funded, this amount will help fund the program through the end of the 2020-2021 academic year.
- We are currently limiting specific earmarks off the Reserve Fund, in the event that these funds would need to provide a financial fill-gap between our Income and Expenses.