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Entry1SchoolInformationCreated:06/24/2016Lastupdated:07/29/2016

Pleasebeadvisedthatyouwillneedtocompletethiscoverpage(includingsignatures)beforealloftheothertasksassignedtoyoubyyourauthorizerarevisibleonyourtaskpage.Whilecompletingthistask,pleaseensurethatyouselectthecorrectauthorizeroryoumaynotbeassignedthecorrecttasks.

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a.SCHOOLNAMEANDBEDS#

(Selectnamefromthedropdownmenu)

COMPASSCS(REGENTS)331300861066

b.CHARTERAUTHORIZER

(Fortechnicalreasons,pleasere-selectauthorizernamefromthedropdownmenu).

Regents-AuthorizedCharterSchool

c.DISTRICT/CSDOFLOCATION

NYCCSD13

d1.SCHOOLINFORMATION

PRIMARYADDRESS PHONENUMBER FAXNUMBER EMAILADDRESS

300AdelphiStreet,FourthFloor,Brooklyn,NY11205

718-310-3588 718-852-4682 [email protected]

d2.PHONECONTACTNUMBERFORAFTERHOURSEMERGENCIES

ContactName ToddSutler

Title Co-Director,StrategicDevelopment

mailto:[email protected]

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EmergencyPhoneNumber(###-###-####)

e.SCHOOLWEBADDRESS(URL)

https://brooklyncompass.org/

f.DATEOFINITIALCHARTER

12/2013

g.DATEFIRSTOPENEDFORINSTRUCTION

09/2014

h1.APPROVEDSCHOOLMISSION(Regents,NYCDOE,andBuffaloBOEauthorizedschoolsonly)

MISSIONSTATEMENT

CompassCharterSchoolisasafeandnurturingeducationalenvironmentthathonorstheindividualityofeachlearner.Byengaginginaprocessofinquiry,ourgraduateswillbeequippedwiththenecessaryskillstoleadfulfillingpersonalandprofessionallives,includingadevelopedsenseofself,theabilitytothinkininnovativeandflexibleways,andtheinspirationtomakeapositiveimpactontheircommunity.

h2.KEYDESIGNELEMENTS(Regents,NYCDOE,andBuffaloBOEauthorizedschoolsonly)KEYDESIGNELEMENTS(Briefdescription)

Variable1 Inquiryisthebasecomponentofthenaturallearningprocess.Studentsatallgradelevelswillengageinmeaningfulinquiry-basedinterdisciplinaryprojects.Allstudentswillparticipateinavarietyofresearchpractices,includingobservations,questiondevelopment,interviews,artifactcollection,fieldvisits,notetakingandhands-onexperiments.

https://brooklyncompass.org/

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Variable2 SustainabilityeducationandsustainablepracticeswillbeinfusedthroughthedailypracticesandcurriculumofCCS.Ourinterdisciplinaryunitsofstudywillgivestudentsopportunitiestoexaminetheconceptsofenvironmentalstewardship,resourcemanagement,socialjustice,andeconomicjustice.Wewillincorporatesustainablepracticeslikerecycling,eatingresponsiblysourcedfood,andusingenergyefficientproductsinourschoolenvironment.Wewillalsoencouragestudents,families,andstafftoadoptthesepracticesintheirlivesoutsideofschool.

Variable3 CCSwillvaluetheartsasaformofcommunicationandexpression.Visualarts,music,andmovement/dancewillbeincorporatedintotheCCSmodel.Artsspecialistswilldesigndiscipline-basedcoursesaswellasplanlessonsandco-teachwithclassroomeducatorstofullyintegratetheartsintothecoresubjects.

Variable4 Multi-facetedassessmentpracticeswillgaugestudentacademicachievementandgrowth.ArangeofformativeandsummativeassessmentswillbeutilizedtosupplyCCSeducatorswithabreadthofdatathatwillinformdailyinstruction.

Variable5 IntegratedCo-Teachingwillbeimplementedacrossallclassroomstopromoteaninclusiveeducationalenvironment.Havingtwoteachersinaclassroomallowsforasmallstudent-to-teacherratioandcanofferasupportiveleast-restrictive.

Variable6 AsfoundersofTheOdysseyInitiative,wehavededicatedthisyeartostudyinginnovativeschoolstoobserve,documentandsharetheeffectivesystemsandpracticestheschoolshaveputinplace.AsofMarch14,2013,wehavevisited46schoolsin19states.OurplanninghasbeeninformedandourmodelhasbeenstrengthenedbythisresearchenvironmentforstudentswithIEPs.A

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varietyofICTinstructionalmodelswillbeutilizedtomeettheneedsforallstudents.oThepracticeofloopingwillbeusedtoprovideanopportunityforteacherstoformstrongpersonalrelationshipswiththeirstudentsaswellastheirfamilies.Co-teachingteamswillloop,ormoveup,withthesamegroupofstudentsfortwoyears(K-1,2-3,4-5).

Variable7 Ourextendedschooldaywillbefrom8A.M.to4P.M.fourdaysaweek.Eachschoolyear,thiswillgiveourstudentsapproximately3weeksmoreofadditionalinstructionaltimethanthedistrictaverage.Wewillalsoseektodeveloporpartnerwithafter-schoolprogramsforourstudents.

Variable8 (Noresponse)



i.TOTALENROLLMENTONJUNE30,2016

169

j.GRADESSERVEDINSCHOOLYEAR2015-16Checkallthatapply

GradesServed K,1,2

k1.DOESTHESCHOOLCONTRACTWITHACHARTEROREDUCATIONALMANAGEMENTORGANIZATION?

No

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l1.FACILITIESDoestheschoolmaintainoroperatemultiplesites?

No,justonesite.

l2.SCHOOLSITESPleaselistthesiteswheretheschoolwilloperatefortheupcomingschoolyear.

PhysicalAddress

PhoneNumber

District/CSD GradesServedatSite

SchoolatFullCapacityatSite

FacilitiesAgreement

Site1(sameasprimarysite)

300AdelphiStreet,FourthFloor,Brooklyn,NY11205

718-310-3588

BROOKLYN(TOTAL) K-2 No DOEspace

Site2

Site3

l2a.PleaseprovidethecontactinformationforSite1.

Name WorkPhone AlternatePhone EmailAddress

SchoolLeader ToddSutler

OperationalLeader ToddSutler

ComplianceContact ToddSutler

ComplaintContact ToddSutler

m1.Istheschooloraretheschoolsitesco-located?

Yes

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m2.Pleaselistthetermsofyourcurrentco-location.

Dateschoolwillleavecurrentco-location

IsschoolworkingwithNYCDOEtoexpandintocurrentspace?

Ifso,listyearexpansionwilloccur.

IsschoolworkingwithNYCDOEtomovetoseparatespace?

Ifso,listtheproposedspaceandyearplannedformove

SchoolatFullCapacityatSite

Site1(primarysite)

Never Yes 2016 No No

Site2

Site3

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n1.Werethereanyrevisionstotheschool’scharterduringthe2015-16schoolyear?(Pleaseincludeapprovedorpendingmaterialandnon-materialcharterrevisions).

Yes

n2.SummaryofCharterRevisions

Category(SelectBestDescription)

SpecificRevision(150wordlimit)

DateApprovedbyBOT(ifapplicable)

DateApprovedbyAuthorizer(ifapplicable)

1ChangeinMaximumApprovedEnrollment

Duetosizeofallocatedpublicspace,thisschoolonlyhasroomforthreehundredstudentsandwithNYSEDsupport,CompassCharterwasrewrittentostateassuch.

February2016 March2016

Afterthreeyearsofaggressivecommunityoutreachandathoroughassessmentofthe

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2Changeinadmissions/enrollmentpolicy

demographicsofCompass'scommunityschooldistrict,CompassappliedforandwasapprovedbyNYSEDtohaveafortypercentpreferenceforstudentswhoqualifiedforfreelunchinitsannuallottery.

June2015 July2015

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4

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o.NameandPositionofIndividual(s)WhoCompletedthe2015-16AnnualReport.

ToddSutler,Co-Director

p.Oursignaturesbelowattestthatalloftheinformationcontainedhereinistruthfulandaccurateandthatthischarterschoolisincompliancewithallaspectsofitscharter,andwithallpertinentFederal,State,andlocallaws,regulations,andrules.Weunderstandthatifanyinformationinanypartofthisreportisfoundtohavebeendeliberatelymisrepresented,thatwillconstitutegroundsfortherevocationofourcharter.CheckYESifyouagreeandthenusethemouseonyourPCorthestylistonyourmobiledevicetosignyourname).

ResponsesSelected:

Yes

Signature,HeadofCharterSchool

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Signature,PresidentoftheBoardofTrustees

Date

2016/07/21

Thankyou.

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Entry2LinkCreated:07/05/2016Lastupdated:07/16/2016

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1.NEWYORKSTATEREPORTCARD

ProvideadirectURLorweblinktothemostrecentNewYorkStateSchoolReportCardforthecharterschool(Seehttps://reportcards.nysed.gov/).

(CharterschoolscompletingyearonewillnotyethaveaSchoolReportCardorlinktoone.Pleasetype"URLisnotavailable"inthespaceprovided).

https://data.nysed.gov/reportcard.php?instid=800000082487&year=2015&createreport=1&allchecked=1&enrollment=1&avgclasssize=1&freelunch=1&attendance=1&suspensions=1&teacherqual=1&teacherturnover=1&staffcounts=1&naep=1&elemELA=1&elemMATH=1

https://data.nysed.gov/reportcard.php?instid=800000082487&year=2015&createreport=1&allchecked=1&enrollment=1&avgclasssize=1&freelunch=1&attendance=1&suspensions=1&teacherqual=1&teacherturnover=1&staffcounts=1&naep=1&elemELA=1&elemMATH=1

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Entry3ProgressLastupdated:07/22/2016

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PROGRESSTOWARDCHARTERGOALS

ThefollowingtablesreflectformattingintheonlineportalrequiredforBoardofRegents-authorizedcharterschoolsandNYCDOE-authorizedcharterschoolsonly.SchoolsshouldlistProgressTowardCharterGoalsbyAugust1,2016.IfthegoalsarebasedonstudentperformancedatathattheschoolwillnothaveaccesstobeforeAugust1,2016(e.g.,theNYSAssessmentresults),explainthisinthe"2015-2016ProgressTowardAttainmentofGoal"column.Theinformationcanbeupdatedwhenavailable.PleasecompleteandsubmitnolaterthanNovember1,2016.

1.ACADEMICSTUDENTPERFORMANCEGOALS

2015-16ProgressTowardAttainmentofAcademicGoals

AcademicStudentPerformanceGoal

MeasureUsedtoEvaluateProgressTowardAttainmentofGoal

Goal-Met,PartiallyMet,orNotMet

IfNotMet,DescribeEffortsSchoolWillTake

Annually,aminimumof75%ofstudentsingradesK-5willscoreatgradelevelaccordingtoFountasandPinnellBenchmarkReadingAssessment(Seeupdatedgradelevelcorrelationchartfrom2012).Annually,aminimumof75%ofstudentsingradesK-2willperformatgradelevelinphonemicawareness,phonics,and

Attheendoftheschoolyear,80%ofCompassKindergartenersperformedator

Aswithlastyear,wehaveimplementedarobustResponsetoIntervention(RtI)Programthatutilizesdifferentiatedguidedreadingandwordstudyinstructioninthe

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AcademicGoal1

CompassCharterSchoolstudentswillreadandwriteatorabovegradelevel.

vocabulary,accordingtoFirstPerformancesFoxInABoxAssessment(formerlyknownasECLAS-2).Usingschool-createdwritingrubricsforeachgradelevel,aminimumof75%ofstudentsingradesK-5willachievealevel3or4onindependentwritingassessmentsadministeredthreetimeseachschoolyear.Annually,aminimumof75%ofstudentsingradesK-2whohavebeenenrolledatCompassCharterSchoolforatleastoneacademicyearwillscoreproficientontheTerraNova3ReadingandLanguageAssessment.Aminimumof75%ofstudentsingrades3-5whohavebeenenrolledatCompassCharterSchoolforatleasttwoacademicyearswillachieveascoreof3or4ontheNewYorkStateELAExameachyear.CompassCharterSchoolstudentswillperformatleast10pointshigherthanotherstudentsinCSD13ontheNewYorkStateELAExam.

abovegradelevelexpectations,accordingtotheFountasandPinnellBenchmarkReadingAssessment.Attheendoftheschoolyear,78%ofCompassFirstGradersperformedatorabovegradelevelexpectations,accordingtotheFountasandPinnellBenchmarkReadingAssessment.Attheendoftheschoolyear,65%ofCompassSecondGradersperformedatorabovegradelevelexpectations,accordingtotheFountasandPinnellBenchmarkReadingAssessment.WedonothavedataforthegoalspertainingtostandardizedtestsbecauseCompassonlyhadKindergarten,First,andSecondGradethispastyear.

classrooms(Tier1),InterventiongroupsusingLeveledLiteracyIntervention(LLI)andPreventingAcademicFailure(PAF)(Tier2),andone-on-oneReadingRecoverysessions(Tier3).ByusingthisRtImodelweworkabletoincreasethenumberofCompassstudentsmeetingreadingexpectations.WhileourSecondGradershavenotmetourgoalofatleast75%ofstudentsreadingongradelevel,weknowthatthisistheonlycohortthatwillnotstartCompassinkindergarten.ForthisfoundingSecondGradecohort,wewillcontinueintensiveinterventionsforallstudentswhoarenotyetmeetingreadingexpectationsaswemoveintothenewacademicschoolyearanduntilthosechildrenareatorabovegradelevel.

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AcademicGoal2

CompassCharterSchoolstudentswilldemonstratemathskillsatorabovegradelevel.

Annually,aminimumof75%ofstudentsingradesK-2willperformatgradelevelinmathematics,accordingtoFirstPerformancesFoxAddsUpAssessment.Annually,aminimumof75%ofstudentsingradesK-2whohavebeenenrolledatCompassCharterSchoolforatleastoneacademicyearwillscoreproficientontheTerraNova3MathAssessment.Aminimumof75%ofstudentsingrades3to5whohavebeenenrolledatCompassCharterSchoolforatleasttwoacademicyearswillachieveascoreof3or4ontheNewYorkStateMathExameachyear.CompassCharterSchoolstudentswillperformatleast10pointshigherthanotherstudentsinCSD13ontheNewYorkStateMathExam.

Attheendoftheschoolyear,78%ofCompassKindergartenersperformedatorabovegradelevelexpectations,accordingtoFoxAddsUp(NumberandOperations).Attheendoftheschoolyear,89%ofCompassFirstGradersperformedatorabovegradelevelexpectations,accordingtoFoxAddsUp(NumberandOperations).Attheendoftheschoolyear,75%ofCompassSecondGradersperformedatorabovegradelevelexpectations,accordingtoFoxAddsUp(NumberandOperations).WedonothavedataforthegoalspertainingtostandardizedtestsbecauseCompassonlyhadKindergarten,First,andSecondGradethispastyear.

AcademicGoal3

CompassCharterSchoolstudentswilldemonstratemasteryofcontentknowledgegainedthroughourinquiry-based,interdisciplinarylearningapproach.

StudentsingradesK-5willpresenttheirlearningthroughend-of-projectculminationsandaminimumof75%ofstudentswillscorealevel3or4onteacher-createdunitassessment

Compassisintheprocessofcreatingunitassessmentrubrics.

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rubricseachyear.

AcademicGoal4

CompassCharterSchoolstudentswilldemonstrateproficiencyinscience.

Aminimumof75%ofstudentsingrade4whohavebeenenrolledatCompassCharterSchoolforatleasttwoacademicyearswillachieveascoreof3or4ontheNewYorkStateScienceExameachyear.

Notapplicable

AcademicGoal5

CompassCharterSchoolwillretain93%ofitsstudentsfromyeartoyear

Studentretention.

Compassretained96.8%ofitsstudentbodyforthe2016-2017schoolyear.

AcademicGoal6

AcademicGoal7

AcademicGoal8

2.Dohavemoreacademicgoalstoadd?

No

3.Dohavemoreacademicgoalstoadd?

No

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4.ORGANIZATIONALGOALS

2015-16ProgressTowardAttainmentofOrganizationalGoals

OrganizationalGoal MeasureUsedtoEvaluateProgress



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OrgGoal1

OrgGoal2

OrgGoal3

OrgGoal4

OrgGoal5

5.Doyouhavemoreorganizationalgoalstoadd?

(Noresponse)

2015-16ProgressTowardAttainmentofOrganizationalGoals

OrganizationalGoal MeasureUsedtoEvaluateProgress



OrgGoal6

OrgGoal7

OrgGoal8

OrgGoal9

OrgGoal10

OrgGoal11

OrgGoal12

OrgGoal13

OrgGoal14

OrgGoal15

6.FINANCIALGOALS

2015-16ProgressTowardAttainmentofFinancialGoals

FinancialGoals MeasureUsedtoEvaluateProgress



FinancialGoal1

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FinancialGoal2

FinancialGoal3

FinancialGoal4

FinancialGoal5

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Entry4ExpendituresperChildCreated:07/12/2016Lastupdated:07/22/2016

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FinancialInformationThisinformationisrequiredofALLcharterschools.ProvidethefollowingmeasuresoffiscalperformanceofthecharterschoolinAppendixB(TotalExpendituresandAdministrativeExpendituresPerChild):

1.TotalExpendituresPerChildTocalculate‘TotalExpendituresperChild’taketotalexpenditures(fromtheunaudited2015-16ScheduleofFunctionalExpenses)anddividebytheyearendFTEstudentenrollment.(IntegersOnly.Nodollarsignsorcommas).

Note:TheinformationontheScheduleofFunctionalExpensesonpages41–43oftheAuditGuidecanhelpschoolslocatetheamountstouseinthetwoperpupilcalculations:http://www.p12.nysed.gov/psc/AuditGuide.html

Line1:TotalExpenditures 2524581

Line2:YearEndFTEstudentenrollment 154

Line3:DivideLine1byLine2 16412

2.AdministrativeExpendituresperChild

Tocalculate‘AdministrativeExpendituresperChild'Tocalculate“AdministrativeExpendituresperChild”firstaddtogetherthefollowing:

1.Taketherelevantportionfromthe‘personnelservicescost’rowandthe‘managementandgeneral’column(fromtheunaudited2015-16ScheduleofFunctionalExpenses)

2.Anycontractedadministrative/managementfeepaidtootherorganizationsorcorporations

3.Takethetotalfromaboveanddivideitbytheyear-endFTEenrollment.Therelevantportionthat

http://www.p12.nysed.gov/psc/AuditGuide.html

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mustbeincludedinthiscalculationisdefinedasfollows:

AdministrativeExpenditures:Administrationandmanagementofthecharterschoolincludestheactivitiesandpersonneloftheofficesofthechiefschoolofficer,thefinanceorbusinessoffices,schooloperationspersonnel,datamanagementandreporting,humanresources,technology,etc.Italsoincludesthoseadministrativeandmanagementservicesprovidedbyotherorganizationsorcorporationsonbehalfofthecharterschoolforwhichthecharterschoolpaysafeeorothercompensation.DonotincludetheFTEofpersonnelwhoseroleistodirectlysupporttheinstructionalprogram.

Notes:TheinformationontheScheduleofFunctionalExpensesonpages41–43oftheAuditGuidecanhelpschoolslocatetheamountstouseinthetwoperpupilcalculations:http://www.p12.nysed.gov/psc/AuditGuide.html.Employeebenefitcostsorexpendituresshouldnotbereportedintheabovecalculations.

Line1:RelevantPersonnelServicesCost(Row) 197656

Line2:ManagementandGeneralCost(Column) 304857

Line3:SumofLine1andLine2 502513

Line5:DivideLine3bytheYearEndFTEstudentenrollment 3267

Thankyou.

http://www.p12.nysed.gov/psc/AuditGuide.html

Financial Audit Supplemental Data Request Formfor Regents-Authorized Charter Schools

School Name:

Date:

School Fiscal Contact Name:School Fiscal Contact Email:School Fiscal Contact Phone:District of Location:Authorizer:Years of Operation:Facility:Grades Currently Served:Planned Grades at Full Capacity:Enrollment:Max Enrollment:Year of Most Recent DataSchool Fiscal Contact Phone:

School Audit Firm Name:School Audit Contact Name:School Audit Contact Email:School Audit Contact Phone:

Latest Audit Period (through June 30): Do Not Use this Box

Financial Audit Supplemental Data Request Formfor Regents-Authorized Charter Schools

Compass Charter School

August 1, 2016

Todd Sutler

718-310-3588 x50113SED2PublicK-2K-51543002016718-310-3588 x501

Mengel, Metzger, Barr & Co.Michelle Cain

585-423-1860 x3259

June 30, 2015Compass Charter SchoolJune 30, 2015

[email protected]

[email protected]



FILL IN GRAY CELLS

Compass Charter SchoolSTATEMENTS OF FINANCIAL POSITION

FOR THE YEARS ENDED JUNE 30,

2016 2015ASSETS

CURRENT ASSETSCash and cash equivalents $443,582 $258,741 Grants and contracts receivable 3,481 59,110 Accounts receivables - - Inventory - - Prepaid Expenses 37,900 46,719 Contributions and other receivables - -

Other - - TOTAL CURRENT ASSETS $484,963 $364,570

OTHER ASSETSInvestments $- $- Property, Plant and Equipment, Net 161,625 131,152

Restricted Cash - - OTHER ASSETS $161,625 $131,152

TOTAL ASSETS $646,588 $495,722

LIABILITIES AND NET ASSETSCURRENT LIABILITIESAccounts payable and accrued expenses $100,333 $105,546 Accrued payroll and benefits 138,795 88,668 Refundable Advances - - Dreferred Revenue - 2,191 Current maturities of long-term debt - - Short Term Debt - Bonds, Notes Payable - -

Other - - TOTAL CURRENT LIABILITIES $239,128 $196,405

LONG-TERM DEBT, net current maturities $- $-

TOTAL LIABILITIES $239,128 $196,405

NET ASSETSUnrestricted $407,460 $299,317

Temporarily restricted - - TOTAL NET ASSETS $407,460 $299,317

TOTAL LIABILITIES AND NET ASSETS $646,588 $495,722

Check - -

FILL IN GRAY CELLS

Compass Charter SchoolSTATEMENTS OF ACTIVITIESFOR THE YEARS ENDED JUNE 30,

2016 2015

Unrestricted Total Total

REVENUE, GAINS AND OTHER SUPPORT State & Local Operating Revenue $2,359,123 $- $2,359,123 $1,689,537 Federal - Title and IDEA 127,318 - 127,318 302,201 Federal - Other - - - - State and City Grants - - - - Contributions and private grants 123,342 - 123,342 106,705 After school revenue - - - - Other - - - -

Food Service/Child Nutrition Program - - - - TOTAL REVENUE, GAINS AND OTHER SUPPORT $2,609,783 $- $2,609,783 $2,098,443

EXPENSES Program Services

Regular Education $1,590,486 $- $1,590,486 $1,200,784 Special Education $580,654 - 580,654 $438,382

Other Programs - - - - Total Program Services $2,171,140 $- $2,171,140 $1,639,166 Supporting Services

Management and general $100,983 $- $100,983 $76,240

Fundraising 252,458 - 252,458 190,601 TOTAL OPERATING EXPENSES $2,524,581 $- $2,524,581 $1,906,007

SURPLUS / (DEFICIT) FROM SCHOOL OPERATIONS $85,202 $- $85,202 $192,436

Contributions Foundations $- $- $- $- Individuals - - - - Corporations - - - -

Fundraising - - - - Interest income 13 - 13 246 Miscellaneous income 22,929 - 22,929 13,159

Net assets released from restriction - - - - TOTAL SUPPORT AND OTHER REVENUE $22,942 $- $22,942 $13,405

CHANGE IN NET ASSETS $108,144 $- $108,144 $205,841

NET ASSETS BEGINNING OF YEAR $299,316 $- $299,316 $93,475

PRIOR YEAR/PERIOD ADJUSTMENTS - - - -

NET ASSETS - END OF YEAR $407,460 $- $407,460 $299,316

Temporarily Restricted

2014-15 Budget & Cash Flow Template

General Instructions and Notes for New Application Budgets and Cash Flows Templates

1 2

3

4

5

New York State Education Department Request for Proposals to Establish Charter Schools Authorized by the

Board of Regents

Complete ALL SIX columns in BLUEEnter information into the GRAY cells

Cells containing RED triangles in the upper right corner in columns B through G contain guidance on that particular item

Funding by School District information for all NYS School district is located on the State Aid website at https://stateaid.nysed.gov/charter/. Refer to this website for per-pupil tuition funding for all school districts. Rows may be inserted in the worksheet to accomodate additional districts if necessary.

The Assumptions column should be completed for all revenue and expense items unless the item is self-explanatory. Where applicable, please reference the page number or section in the application narrative that indicates the assumption being made. For instance, student enrollment would reference the applicable page number in Section I, C of the application narrative.

Compass Charter SchoolPROJECTED BUDGET FOR 2016-2017 Assumptions

July 1, 2016 to June 30, 2017 DESCRIPTION OF ASSUMPTIONS - Please note assumptions when applicable

Please Note: The student enrollment data is entered below in the Enrollment Section beginning in row 155. This will populate the data in row 10.

OTHER FUNDRAISING TOTAL

Total Revenue 3,055,855 402,287 - 163,161 - 3,621,303

Total Expenses 2,219,052 956,371 - 42,842 327,041 3,545,306

Net Income 836,804 (554,085) - 120,319 (327,041) 75,997

Actual Student Enrollment 186 20 -

Total Paid Student Enrollment 186 20 206

PROGRAM SERVICES SUPPORT SERVICES


REVENUE

REVENUES FROM STATE SOURCES

Per Pupil Revenue

New York City $14,027.00 2,889,562 - - - - 2,889,562

School District 2 (Enter Name) - - - - - -




2,889,562 - - - - 2,889,562

Special Education Revenue - 380,980 - - - 380,980

Grants

Stimulus 79,722 - - - - 79,722

Other - - - - - -

Other State Revenue - - - - - -

TOTAL REVENUE FROM STATE SOURCES 2,969,284 380,980 - - - 3,350,264

REVENUE FROM FEDERAL FUNDING

IDEA Special Needs - 12,000 - - - 12,000

Title I 22,573 2,427 - - - 25,000

Title Funding - Other 2,370 255 - - - 2,625

School Food Service (Free Lunch) - - - - - -

Grants

Charter School Program (CSP) Planning & Implementation - - - - - -

Other - - - - - -

Other Federal Revenue - - - - - -

TOTAL REVENUE FROM FEDERAL SOURCES 24,943 14,682 - - - 39,625

LOCAL and OTHER REVENUE

Contributions and Donations, Fundraising - - - 163,161 - 163,161

Erate Reimbursement 6,320 680 - - - 7,000

Interest Income, Earnings on Investments, 20 - - - - 20

NYC-DYCD (Department of Youth and Community Developmt.) - - - - - -

Food Service (Income from meals) 40,288 4,332 - - - 44,620

Text Book 15,000 1,613 - - - 16,613

Other Local Revenue - - - - - -

TOTAL REVENUE FROM LOCAL and OTHER SOURCES 61,628 6,625 - 163,161 - 231,414

TOTAL REVENUE 3,055,855 402,287 - 163,161 - 3,621,303

List exact titles and staff FTE"s ( Full time eqiuilivalent)

EXPENSES

ADMINISTRATIVE STAFF PERSONNEL COSTS No. of Positions

Executive Management 1.00 74,624 27,244 - 4,738 11,845 118,450

Instructional Management 2.00 213,900 23,000 - - - 236,900

Deans, Directors & Coordinators 2.00 243,844 26,220 - - - 270,064

CFO / Director of Finance 1.00 - - - - 87,000 87,000

Operation / Business Manager 1.00 - - - - 90,000 90,000

Administrative Staff 1.00 - - - - 24,500 24,500

TOTAL ADMINISTRATIVE STAFF 8 532,368 76,463 - 4,738 213,345 826,914

INSTRUCTIONAL PERSONNEL COSTS

Teachers - Regular 9.00 625,795 - - - - 625,795

Teachers - SPED 10.00 - 613,117 - - - 613,117

Substitute Teachers - - - - - - -

Teaching Assistants 1.00 15,043 1,617 - - - 16,660

REGULAR EDUCATION

SPECIAL EDUCATION

MANAGEMENT & GENERAL

REGULAR EDUCATION

SPECIAL EDUCATION


CY Per Pupil Rate





Total Revenue 3,055,855 402,287 - 163,161 - 3,621,303

Total Expenses 2,219,052 956,371 - 42,842 327,041 3,545,306

Net Income 836,804 (554,085) - 120,319 (327,041) 75,997





REGULAR EDUCATION

SPECIAL EDUCATION


REGULAR EDUCATION

SPECIAL EDUCATION


Specialty Teachers 2.00 130,768 14,061 - - - 144,829

Aides - - - - - - -

Therapists & Counselors 1.00 96,603 10,387 - - - 106,990

Other - - - - - - -

TOTAL INSTRUCTIONAL 23 868,208 639,183 - - - 1,507,391

NON-INSTRUCTIONAL PERSONNEL COSTS

Nurse - - - - - - -

Librarian - - - - - - -

Custodian - - - - - - -

Security - - - - - - -

Other - - - - - - -

TOTAL NON-INSTRUCTIONAL - - - - - - -

SUBTOTAL PERSONNEL SERVICE COSTS 31 1,400,576 715,646 - 4,738 213,345 2,334,305

PAYROLL TAXES AND BENEFITS

Payroll Taxes 120,237 61,437 - 407 18,315 200,396

Fringe / Employee Benefits 162,569 83,067 - 550 24,764 270,949

Retirement / Pension 11,948 6,105 - 40 1,820 19,914

TOTAL PAYROLL TAXES AND BENEFITS 294,754 150,609 - 997 44,899 491,259

TOTAL PERSONNEL SERVICE COSTS 1,695,330 866,255 - 5,735 258,244 2,825,564

CONTRACTED SERVICES

Accounting / Audit - - - - 60,490 60,490

Legal - - - - - -

Management Company Fee - - - - - -

Nurse Services - - - - - -

Food Service / School Lunch 50,360 5,415 - - - 55,775

Payroll Services 1,625 175 - - - 1,800

Special Ed Services - - - - - -

Titlement Services (i.e. Title I) - - - - - -

Other Purchased / Professional / Consulting 50,606 9,568 - 563 1,763 62,499

TOTAL CONTRACTED SERVICES 102,591 15,158 - 563 62,253 180,564

SCHOOL OPERATIONS

Board Expenses - - - - 2,500 2,500

Classroom / Teaching Supplies & Materials 215,615 23,184 - - - 238,799

Special Ed Supplies & Materials - - - - - -

Textbooks / Workbooks - - - - - -

Supplies & Materials other - - - - - -

Equipment / Furniture 6,500 2,900 - 300 300 10,000

Telephone - - - - - -

Technology 28,668 12,790 - 1,323 1,323 44,104

Student Testing & Assessment - - - - - -

Field Trips - - - - - -

Transportation (student) - - - - - -

Student Services - other - - - - - -

Office Expense 9,517 1,188 - 23 23 10,750

Staff Development 102,444 11,566 - 75 75 114,160

Staff Recruitment 1,027 458 - 47 47 1,580

Student Recruitment / Marketing 8,036 864 - - - 8,900

School Meals / Lunch - - - - - -

Travel (Staff) - - - - - -

Fundraising - - - 32,500 - 32,500





Total Revenue 3,055,855 402,287 - 163,161 - 3,621,303

Total Expenses 2,219,052 956,371 - 42,842 327,041 3,545,306

Net Income 836,804 (554,085) - 120,319 (327,041) 75,997





REGULAR EDUCATION

SPECIAL EDUCATION


REGULAR EDUCATION

SPECIAL EDUCATION


Other 338 151 - 16 16 520

TOTAL SCHOOL OPERATIONS 372,144 53,102 - 34,284 4,284 463,813

FACILITY OPERATION & MAINTENANCE

Insurance 15,600 6,960 - 720 720 24,000

Janitorial - - - - - -

Building and Land Rent / Lease - - - - - -

Repairs & Maintenance 5,330 2,378 - 246 246 8,200

Equipment / Furniture - - - - - -

Security - - - - - -

Utilities - - - - - -

TOTAL FACILITY OPERATION & MAINTENANCE 20,930 9,338 - 966 966 32,200

DEPRECIATION & AMORTIZATION 28,057 12,518 - 1,295 1,295 43,165

DISSOLUTION ESCROW & RESERVES / CONTIGENCY - - - - - -

TOTAL EXPENSES 2,219,052 956,371 - 42,842 327,041 3,545,306

NET INCOME 836,804 (554,085) - 120,319 (327,041) 75,997

ENROLLMENT - *School Districts Are Linked To Above Entries*

New York City 186 20 206

School District 2 (Enter Name) -




TOTAL ENROLLMENT 186 20 206

REVENUE PER PUPIL 16,429 20,114 -

EXPENSES PER PUPIL 11,930 47,819 -

REGULAR EDUCATION

SPECIAL EDUCATION

TOTAL ENROLLED

COMPASS CHARTER SCHOOL

BROOKLYN, NEW YORK

AUDITED FINANCIAL STATEMENTS

OTHER FINANCIAL INFORMATION

REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS

AND

INDEPENDENT AUDITOR’S REPORTS

JUNE 30, 2016

(With Comparative Totals for 2015)

kdebellis

Cover

CONTENTS AUDITED FINANCIAL STATEMENTS PAGE Independent Auditor’s Report 3 Statement of Financial Position 5 Statement of Activities and Changes in Net Assets 6 Statement of Functional Expenses 7 Statement of Cash Flows 8 Notes to Financial Statements 9 OTHER FINANCIAL INFORMATION Independent Auditor’s Report on Other Financial Information 15 Schedule of Activities for the years ended June 30, 2016 and June 30, 2015, the period from December 17, 2013 (date of inception) to June 30, 2014, and the period from December 17, 2013 (date of inception) to June 30, 2015 16 REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 18 Schedule of Findings and Responses 20

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INDEPENDENT AUDITOR’S REPORT Board of Trustees Compass Charter School Report on the Financial Statements We have audited the accompanying financial statements of Compass Charter School, which comprise the statement of financial position as of June 30, 2016, and the related statements of activities and changes in net assets, functional expenses, and cash flows for the year then ended and the related notes to the financial statements.

Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

kdebellis

Rochester

- 4 -

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Compass Charter School as of June 30, 2016, and the changes in its net assets and its cash flows for the year then ended, in accordance with accounting principles generally accepted in the United States of America. Report on Summarized Comparative Information We have previously audited Compass Charter school’s June 30, 2015 financial statements, and we expressed an unmodified audit opinion on those audited financial statements in our report dated October 6, 2015. In our opinion, the summarized comparative information presented herein as of June 30, 2015 and for the period from December 17, 2013 (date of inception) to June 30, 2015 is consistent, in all material respects, with the audited financial statements from which it has been derived. Other Report Required by Government Auditing Standards

In accordance with Government Auditing Standards, we have also issued our report dated October 19, 2016 on our consideration of Compass Charter School’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements, and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Compass Charter School’s internal control over financial reporting and compliance.

Rochester, New York October 19, 2016

kdebellis

Second

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STATEMENT OF FINANCIAL POSITION

JUNE 30, 2016 (With Comparative totals for 2015)

ASSETS 2016 2015CURRENT ASSETS Cash 393,569$ 233,740$ Cash in escrow 50,013 25,001 Grants and other receivables 44,702 59,110 Prepaid expenses and other current assets 37,900 46,719

TOTAL CURRENT ASSETS 526,184 364,570

PROPERTY AND EQUIPMENT, net 161,620 131,152

TOTAL ASSETS 687,804$ 495,722$

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES Accounts payable and accrued expenses 101,360$ 105,546$ Accrued payroll and benefits 139,439 88,668 Deferred revenue - 2,190

TOTAL CURRENT LIABILITIES 240,799 196,404

NET ASSETS Unrestricted 445,005 299,318 Temporarily restricted 2,000 -

TOTAL NET ASSETS 447,005 299,318

TOTAL LIABILITIES AND NET ASSETS 687,804$ 495,722$

June 30,

The accompanying notes are an integral part of the financial statements.

- 6 -


STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS

YEAR ENDED JUNE 30, 2016 (With Comparative totals for 2015)

Period fromDecember 17,2013 (date ofinception) to

Temporarily June 30,Unrestricted restricted Total 2015

Operating revenue and support: State and local per pupil operating revenue 2,383,704$ -$ 2,383,704$ 1,590,936$ Government grants 143,958 - 143,958 658,690 Private grants 3,926 3,886 7,812 47,975 Fundraising 104,661 10,869 115,530 89,730 Contributed services 5,472 - 5,472 57,119 Other income 22,929 - 22,929 13,159 Interest income 12 - 12 246 Net assets released from restriction 12,755 (12,755) - -

TOTAL OPERATING REVENUE AND SUPPORT 2,677,417 2,000 2,679,417 2,457,855

Expenses: Program: Regular education 1,473,784 - 1,473,784 1,298,953 Special education 756,977 - 756,977 466,859 Management and general 223,092 - 223,092 301,361 Fundraising and special events 77,877 - 77,877 91,364

TOTAL EXPENSES 2,531,730 - 2,531,730 2,158,537

CHANGE IN NET ASSETS 145,687 2,000 147,687 299,318

Net assets at beginning of year 299,318 - 299,318 -

NET ASSETS AT END OF YEAR 445,005$ 2,000$ 447,005$ 299,318$

Year ended June 30, 2016


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STATEMENT OF FUNCTIONAL EXPENSES


Period fromDecember 17,2013 (date of

Management inception) toNo. of Regular Special and June 30,

Positions Education Education Sub-total Fundraising General Sub-total Total 2015Personnel services costs: Administrative staff personnel 2 $ 102,548 $ 8,150 $ 110,698 $ 43,479 $ 43,479 $ 86,958 $ 197,656 $ 215,394 Instructional personnel 17 734,540 555,810 1,290,350 - - - 1,290,350 914,519 Non-instructional personnel 2 137,311 10,913 148,224 - - - 148,224 136,274 Total salaries and wages 21 974,399 574,873 1,549,272 43,479 43,479 86,958 1,636,230 1,266,187

Fringe benefits and payroll taxes 187,562 110,990 298,552 8,398 8,398 16,796 315,348 236,071 Retirement 4,748 2,810 7,558 213 213 426 7,984 4,997 Legal service - - - - 5,472 5,472 5,472 57,494 Accounting/Audit services - - - - 158,011 158,011 158,011 169,000 Other Purchased/Professional/Consulting Services 26,828 15,875 42,703 1,201 2,358 3,559 46,262 18,735 Repairs and maintenance 2,831 1,676 4,507 127 127 254 4,761 4,273 Insurance 11,489 6,798 18,287 514 514 1,028 19,315 19,065 Supplies/Materials 90,291 7,176 97,467 - - - 97,467 183,233 Equipment/Furnishings 2,380 1,408 3,788 107 107 214 4,002 4,166 Staff development 58,340 5,493 63,833 75 1,682 1,757 65,590 62,690 Marketing/Recruitment 6,371 1,351 7,722 74 74 148 7,870 18,585 Technology 12,455 7,371 19,826 558 558 1,116 20,942 19,341 Food service 22,415 1,781 24,196 - - - 24,196 6,974 Student services 25,128 1,997 27,125 21,950 - 21,950 49,075 27,538 Office expense 22,251 1,818 24,069 4 4 8 24,077 22,446 Depreciation 26,296 15,560 41,856 1,177 1,177 2,354 44,210 29,829 Other - - - - 918 918 918 7,913

$ 1,473,784 $ 756,977 $ 2,230,761 $ 77,877 $ 223,092 $ 300,969 $ 2,531,730 $ 2,158,537

Program Services Supporting ServicesYear Ended June 30, 2016


- 8 -


STATEMENT OF CASH FLOWS


Period fromDecember 17,2013 (date of

Year ended inception) toJune 30, June 30,

2016 2015CASH FLOWS - OPERATING ACTIVITIES Change in net assets 147,687$ 299,318$ Adjustments to reconcile change in net assets to net cash provided from operating activities: Depreciation 44,210 29,829 Changes in certain assets and liabilities affecting operations: Grants and other receivables 14,408 (59,110) Prepaid expenses and other current assets 8,819 (46,719) Accounts payable and accrued expenses (4,186) 105,546 Accrued payroll and benefits 50,771 88,668 Deferred revenue (2,190) 2,190

NET CASH PROVIDED FROMOPERATING ACTIVITIES 259,519 419,722

CASH FLOWS - INVESTING ACTIVITIES Purchases of property and equipment (74,678) (160,981) Change in cash in escrow (25,012) (25,001)

NET CASH USED FORINVESTING ACTIVITIES (99,690) (185,982)

CASH FLOWS - FINANCING ACTIVITIES Borrowings on short term notes payable - 105,000 Repayments on short term notes payable - (105,000)

NET CASH USED FORFINANCING ACTIVITIES - -

NET INCREASE IN CASH 159,829 233,740

Cash at beginning of year 233,740 -

CASH AT END OF YEAR 393,569$ 233,740$

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Cash paid during the year for interest -$ 652$



NOTES TO FINANCIAL STATEMENTS


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NOTE A: THE CHARTER SCHOOL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Charter School Compass Charter School (the “Charter School”) is an educational corporation that operates as a charter school in Brooklyn, New York. The Charter School engages its students in a process of inquiry. The students are equipped with the necessary skills to lead fulfilling personal and professional lives, including a developed sense of self, the ability to think in innovative and flexible ways, and the inspiration to make a positive impact on their community. On December 17, 2013 the Board of Regents of the University of the State of New York granted the Charter School a provisional charter valid for a term of five years and renewable upon expiration.

Financial Statement presentation The financial statements of the Charter School have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (GAAP). The Charter School reports information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets and permanently restricted net assets.

These classes of net assets are defined as follows:

Permanently restricted – Net assets resulting from contributions and other inflows of assets whose use by the Charter School is limited by donor-imposed stipulations that neither expire by passage of time nor can be fulfilled or otherwise removed by actions of the Charter School. The Charter School had no permanently restricted net assets at June 30, 2016 or 2015.

Temporarily restricted – Net assets resulting from contributions and other inflows of assets whose use by the Charter School is limited by donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Charter School pursuant to those stipulations. As of June 30, 2016, the Charter School has temporarily restricted net assets of $2,000 which were restricted to use for certain supplies. The Charter School had no temporarily restricted net assets at June 30, 2015.

Unrestricted – The net assets over which the Governing Board has discretionary control to use in carrying on the Charter School’s operations in accordance with the guidelines established by the Charter School. The Board may designate portions of the current unrestricted net assets for specific purposes, projects or investment.

Revenue and support recognition Revenue from state and local governments resulting from the Charter School’s charter status and based on the number of students enrolled is recorded when services are performed in accordance with the charter agreement.

Revenue from federal, state and local government grants and contracts are recorded by the Charter School when qualifying expenditures are incurred and billable or the requirements of the grant are met.


NOTES TO FINANCIAL STATEMENTS, Cont’d


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NOTE A: THE CHARTER SCHOOL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Cont’d

Contributions Contributions received are recorded as unrestricted, temporarily or permanently restricted support depending on the existence of any donor restrictions. A contribution that is received and expended in the same year for a specific purpose is classified as unrestricted revenue.

Contributions are recorded as restricted support if they are received with donor stipulations that limit the use of the donated assets. When a donor restriction expires, that is, when a stipulated purpose restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions.

Cash Cash balances are maintained at financial institutions located in New York and are insured by the Federal Deposit Insurance Corporation up to $250,000 at each institution. In the normal course of business, the cash account balances at any given time may exceed insured limits. However, the Charter School has not experienced any losses in such accounts and does not believe it is exposed to significant risk in cash.

Cash in escrow The Charter School maintains cash in an escrow account in accordance with the terms of its charter agreement.

Grants and other receivables Grants and other receivables are stated at the amount management expects to collect from outstanding balances. Management provides for probable uncollectible amounts based on its assessment of the current status of individual receivables from grants, agencies and others. Balances that are still outstanding after management has used reasonable collection efforts are written off against the allowance for doubtful accounts. There was no allowance for doubtful accounts at June 30, 2016 and 2015.

Property and equipment Property and equipment are recorded at cost. Depreciation and amortization are computed using the straight-line method on a basis considered adequate to depreciate the assets over their estimated useful lives, which range from three to seven years.

Contributed services The Charter School is located in a New York City Department of Education facility and utilizes approximately 7,500 square feet at no charge. In addition the Charter School receives contributed services from volunteers to serve on the Board of Trustees. The Charter School received transportation services, security agents, custodial services, a nurse, paraprofessionals, speech therapist, occupational therapist, food supplies and services and certain office equipment from the local district. These goods and services are not valued in the financial statements.

The Charter School received contributed legal services which were valued at $5,472 and $57,119 for the year ended June 30, 2016 and for the period ended June 30, 2015, respectively. These amounts are included in contributed services in the accompanying statement of activities and changes in net assets.




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NOTE A: THE CHARTER SCHOOL AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Cont’d

Tax exempt status The Charter School is a tax-exempt organization under section 501(c)(3) of the Internal Revenue Code and applicable state regulations and, accordingly, is exempt from federal and state taxes on income.

Marketing costs The Charter School expenses marketing costs as they are incurred. Total marketing and recruiting costs approximated $7,900 and $18,600 for the year ended June 30, 2016 and the period ended June 30, 2015, respectively.

Deferred revenue The Charter School records grant revenue as deferred revenue until it is expended for the purpose of the grant, at which time it is recognized as revenue.

Notes payable The Charter School had four short-term notes payable during the period ended June 30, 2015. Two were non-interest bearing, one at a rate of 2.5%, and the other at a rate of 4% to finance school expenditures until funding from a federal start-up grant was received. The notes were paid in full in June and October 2014.

Use of estimates in the preparation of financial statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Comparatives for period ended June 30, 2015 The financial statements include certain prior year summarized comparative information in total but not by functional classification. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with the Charter School’s financial statements for the period ended June 30, 2015, from which the summarized information was derived.

Subsequent events The Charter School has conducted an evaluation of potential subsequent events occurring after the statement of financial position date through October 19, 2016, which is the date the financial statements are available to be issued. No subsequent events requiring disclosure were noted.




- 12 -

NOTE B: PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

2016 2015

Furniture and fixtures 146,710$ 88,826$ Office equipment 56,451 48,073 Computers and equipment 32,498 24,082

235,659 160,981 Less accumulated depreciation 74,039 29,829

161,620$ 131,152$

June 30,

NOTE C: SCHOOL FACILITY

The Charter School has entered into a verbal agreement with the New York City Department of Education for dedicated and shared space at M.S. 113 Ronald Edmonds Learning Center, a New York City Public School located at 300 Adelphi Street, Brooklyn, New York. Pursuant to the terms of the Agreement, the Charter School shall not pay for the use of the shared facility.

NOTE D: CONTINGENCY

Certain grants and contracts may be subject to audit by funding sources. Such audits might result in disallowance of costs submitted for reimbursement by the Charter School. Management is of the opinion that such disallowances, if any, will not have a material effect on the accompanying financial statements. Accordingly, no amounts have been provided in the accompanying financial statements for such potential claims.

NOTE E: CONCENTRATIONS

At June 30, 2016, approximately 75% of grants and other receivables are due from New York State relating to a certain grant. At June 30, 2015, approximately 100% of grants and other receivables are due from the federal government relating to a certain grant.

For the year ended June 30, 2016 and the period ended June 30, 2015, approximately 89% and 66%, respectively, of total operating revenue and support came from per-pupil funding provided by New York State. The per-pupil rate is set annually by the State based on the school district in which the Charter School’s students are located.




- 13 -

NOTE F: MAJOR GRANTOR

There were no major grantors for the year ended June 30, 2016. One federal start up grant accounted for over 22% of total operating revenue and support for the period from December 17, 2013 (date of inception) to June 30, 2015.

NOTE G: RETIREMENT PLAN

The Charter School sponsors a 401(k) retirement plan (the “Plan”) for its employees. The Plan allows for the Charter School to make discretionary contributions to the Plan. The Charter School contributed approximately $6,000 and $5,000 to the Plan for the year ended June 30, 2016 and the period ended June 30, 2015, respectively.


OTHER FINANCIAL INFORMATION

- 15 -

INDEPENDENT AUDITOR’S REPORT ON OTHER FINANCIAL INFORMATION Board of Trustees Compass Charter School We have audited the financial statements of Compass Charter School as of and for the year ended June 30, 2016 and the period from December 17, 2013 (date of inception) through June 30, 2015, and have issued our report thereon dated October 19, 2016, which contained an unmodified opinion on those financial statements. Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The financial information hereinafter is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated, in all material respects, in relation to the financial statements as a whole.


kdebellis

Rochester

- 16 -


SCHEDULE OF ACTIVITIES

YEAR ENDED JUNE 30, 2016 AND 2015, THE PERIOD FROM DECEMBER 17, 2013 (DATE OF INCEPTION) TO JUNE 30, 2014, AND

THE PERIOD FROM DECEMBER 17, 2013 (DATE OF INCEPTION) TO JUNE 30, 2015

Period from Period from December 17, December 17,2013 (date of 2013 (date ofinception) to inception) to

2016 2015 June 30, 2014 June 30, 2015

State and local per pupil operating revenue $ 2,383,704 $ 1,590,936 $ - $ 1,590,936 Government grants 143,958 400,803 257,887 658,690 Private grants 7,812 16,975 31,000 47,975 Fundraising 115,530 89,730 - 89,730 Contributed services 5,472 57,119 - 57,119 Other income 22,929 13,159 - 13,159 Interest income 12 246 - 246

TOTAL OPERATING REVENUEAND SUPPORT 2,679,417 2,168,968 288,887 2,457,855

Personnel services costs: Administrative staff personnel 197,656 163,076 52,318 215,394 Instructional personnel 1,290,350 849,518 65,001 914,519 Non-instructional personnel 148,224 136,274 - 136,274 Total salaries and wages 1,636,230 1,148,868 117,319 1,266,187

Fringe benefits and payroll taxes 315,348 218,815 17,256 236,071

Retirement 7,984 4,997 - 4,997

Legal service 5,472 57,494 - 57,494

Accounting/Audit services 158,011 139,000 30,000 169,000 Other Purchased/Professional/Consulting Services

46,262 16,958 1,777 18,735

Repairs and maintenance 4,761 4,273 - 4,273

Insurance 19,315 16,280 2,785 19,065

Supplies/Materials 97,467 182,753 480 183,233

Equipment/Furnishings 4,002 4,166 - 4,166

Staff development 65,590 57,296 5,394 62,690

Marketing/Recruitment 7,870 5,850 12,735 18,585

Technology 20,942 18,511 830 19,341

Food service 24,196 6,974 - 6,974

Student services 49,075 27,538 - 27,538

Office expense 24,077 22,269 177 22,446

Depreciation 44,210 29,829 - 29,829

Other 918 1,254 6,659 7,913

TOTAL EXPENSES 2,531,730 1,963,125 195,412 2,158,537

CHANGE IN NET ASSETS $ 147,687 $ 205,843 $ 93,475 $ 299,318

Year ended June 30,


REPORT REQUIRED BY GOVERNMENT AUDITING STANDARDS

- 18 -

INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL

STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS Board of Trustees Compass Charter School We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of Compass Charter School, which comprise the statement of financial position as of June 30, 2016 and the related statements of activities and changes in net assets, functional expenses and cash flows for the year then ended, and the related notes to the financial statements, and have issued our report thereon dated October 19, 2016. Internal Control over Financial Reporting In planning and performing our audit of the financial statements, we considered Compass Charter School’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Compass Charter School’s internal control. Accordingly, we do not express an opinion on the effectiveness of Compass Charter School’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

kdebellis

Rochester

- 19 -

Compliance and Other Matters As part of obtaining reasonable assurance about whether Compass Charter School’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed an instance of noncompliance or other matter that is required to be reported under Government Auditing Standards and which is described in the accompanying Schedule of Findings and Responses as item 2016-001. We noted certain other matters that we have reported to management of Compass Charter School in a separate letter dated October 19, 2016. Compass Charter School’s Response to Finding Compass Charter School’s response to the finding identified in our audit is described in the accompanying Schedule of Findings and Responses. Compass Charter School’s response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it. Purpose of This Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.


kdebellis

Second

- 20 -


SCHEDULE OF FINDINGS AND RESPONSES

YEAR ENDED JUNE 30, 2016 Finding 2016-001 Statement of condition During our audit we noted the Charter School did not adhere to the terms of their charter agreement, resulting in a late deposit of $25,000 into the Charter School’s escrow account. Criteria and effect of conditions During our audit we noted the Charter School’s charter agreement required the School to deposit $25,000 into the escrow account by December 31, 2015. We noted the School did not deposit the $25,000 into the escrow account until June 30, 2016. Recommendation We recommend the remaining $25,000 deposit be made by December 31, 2016. Management response Management acknowledges and will deposit the additional $25,000 by December 31, 2016.

kdebellis

Second

LaurenHaleRieckhoff,oneoftheboardmembers,failedtoturninherfinancialdisclosureformontimedespitemymanyreminders.

1of3

Entry9BOTTableCreated:06/24/2016Lastupdated:07/26/2016

Page1

1.CurrentBoardMemberInformation

TrusteeName

EmailAddress

PositionontheBoard

CommitteeAffiliations

VotingMember?(Y/N)

AreaofExpertise,and/orAdditionalRoleatSchool(parent,staffmember,etc.)

NumberofTermsServedandLengthofEach(Includeelectiondateandtermexpiration)

1 JasonHorowitz

ViceChair/VicePresident

ViceChair/VicePresident

Yes ExecutiveCommittee

Inception-present

2 MaliniNayar Treasurer Treasurer Yes Executive

Committee4/1/2014-present

3 JoshGordon Secretary Secretary Yes

Education,ExecutiveCommittees

8/1/2014-present

4 HannahBlitzer Yes Finance

Committee1/1/2014-present

5AlexandraChartersZubko

Yes FinanceCommittee

12/1/2014-present

6 DorianMuller Yes

DevelopmentCommittee

Inception-present

7 EricGringold Yes

DevelopmentCommittee

Inception-present

8ScottNoppe-Brandon

Chair/BoardPresident

Chair/BoardPresident Yes

AllCommittees

12/1/2014-present

2of3

9LaurenHaleRieckhoff

YesDevelopmentCimmittee

7/1/2014-present

10

11

12

13

14

15

16

17

18

19

20

2.TotalNumberofMembersonJune30,2015

10

3.TotalNumberofMembersJoiningtheBoard2015-16SchoolYear

0

4.TotalNumberofMembersDepartingtheBoardduringthe2015-16SchoolYear

1

5.NumberofVotingMembers2015-16,assetbytheby-laws,resolutionorminutes

10

6.NumberofBoardMeetingsConductedinthe2015-16SchoolYear

3of3

11

7.NumberofBoardMeetingsScheduledforthe2016-17SchoolYear

12

Thankyou.

Linktoacompletesetofminutes(July2015-June2016)postedontheBrooklynCompassCharterSchoolwebsite:https://brooklyncompass.org/community/board-meetings/

OutreachEfforts2015-2016Forour2016lottery,CompassCharterSchoolutilizeda5-to-1weightingforchildrenqualifyingforfreeandreduced-pricelunch.Compasscontinuedoutreacheffortstofamiliesofchildrenwithdisabilitiesbyaggressivelyrecruitingatschoolsthatservestudentswitharangeofneeds.Belowisalistofsomeoftheoutreachconductedbytheschool.AllclassroomsatCompassemploytheIntegratedCo-Teachingmodel,andallrelatedservicesforchildrenwithIEP’sareon-siteincludingcounseling,OccupationalTherapy,PhysicalTherapy,andSpecialEducationTeacherSupportServices.Compassoffersanumberoftoursduringandafterschoolforinterestedfamilies.Duringthesetours,schoolleadersshareinformationaboutCompass'educationalprogramanddailyactivitiesforthestudents.Alsoduringthetours,theleadersexplainCompass'commitmenttobuildinganinclusivelearningcommunitythatwelcomesadiversityofculturalbackgroundsandperspectives,aswellasarangeoflearningstyles.

Planfor2016-2017Wewillcontinuewiththeoutreachandrecruitmentstrategiesusedfrom2013to2016torecruitandretainchildrenreceivingfreeandreducedpricedlunchandstudentswithdisabilities.WewilladdadditionaloutreachandrecruitmenteffortsspecificfortheELLpopulation.

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Entry12TeacherandAdministratorAttritionCreated:07/05/2016Lastupdated:07/22/2016

Reportchangesinteacherandadministratorstaffing.

Page1

InstructionsforcompletingtheTeacherandAdministratorAttritionTablesThefollowingtablesreflectformattingintheonlineportalrequiredforRegentsauthorizedcharterschools.Schoolsshouldprovide,forteachersandadministratorsonly,thefulltimeequivalent(FTE)ofstaffonJune30,2015;theFTEforaddedstafffromJuly1,2015throughJune30,2016;andtheFTEforanydepartedstafffromJuly1,2015throughJune30,2016usingthetwotablesprovided.

2015-16TeacherAttritionTable

FTETeachersonJune30,2015

FTETeachersDeparted7/1/15–6/30/16

FTETeachersFillingVacantPositions7/1/15–6/30/16

FTETeachersAddedinNewPositions7/1/15-6/30/16

FTEofTeachersonJune30,2016

12 2 2 5 17

2015-16AdministratorPositionAttritionTable

FTEAdministrativePositionsonJune30,2015

FTEAdministratorsDeparted7/1/15–6/30/16

FTEAdministratorsFillingVacantPositions7/1/15–6/30/16

FTEAdministratorsAddedinNewPositions7/1/15-6/30/16

FTEAdministrativePositionsonJune30,2016

3 0 0 0 3

Thankyou

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Entry13UncertifiedTeachersLastupdated:07/22/2016

Page1

ThetablebelowisreflectiveoftheinformationcollectedthroughtheonlineportalforcompliancewithNewYorkStateEducationLaw2854(3)(a-1)forteachingstaffqualifications.Entertherelevantfulltimeequivalent(FTE)countofteachersineachcolumn.Forexample,aschoolwith20fulltimeteachersand5halftimeteacherswouldhaveanFTEcountof22.5.Ifmorethanonecolumnappliestoaparticularteacher,pleaseselectonecolumnfortheFTEcount.

StaffQualifications(June30,2016)Note:ColumnsshouldsumtotheFTEcountofTeachersonJune30,2016,andeachteachershouldbeinonlyonecolumn.

1.FTECountofUncertifiedTeachers(6-30-15) 0

2.FTEcountofuncertifiedteacherwithatleastthreeyearsofelementary,middleorsecondaryclassroomteachingexperience(6-30-15)

1

3.FTEcountofuncertifiedteacherswhoaretenuredortenuretrackcollegefaculty(6-30-15) 0

4.FTEcountofuncertifiedteacherswithtwoyearsofTeachforAmericaexperience(6-30-15) 0

5.FTEcountofuncertifiedteacherswithexceptionalbusiness,professional,artistic,athletic,ormilitaryexperience(6-30-15)

0

6.FTEcountofuncertifiedteacherswhodonotfitintoanyofthepriorfourcategories 0

Total 1.0

Thankyou.

CompassCharterSchoolOrganizationalChart

BoardofTrustees

Co-Directors,Curriculum&Instruction(MichelleHealy&BrookePeters)

ClassroomTeachers(SivanneLieber,BrianBillings,LornaVarney,PascaleSimpson,Shawn

McGibeny,TeressaBrakke,PaulShirk,AnnaLarsonvonMuehlen,RosieAntar,MarissaLopez,RashaHamid,Madeleine

Andersen)

MusicandMovement(SaraKramer)

SustainabiltyCoordinator(KirstenBerneke)

LearningSupportCoordinator(ElizabethVonFelde)&Learning

Specialist(LilaKarosic)

SchoolPsychologist(AmandaDyl)

Co-Director,StrategicDevelopment(ToddSutler)

OfPiceManager(ArianHalsey)

OperationsAssistant(ChelseaChristmas)

2016-2017 School Calendar

Month Number of Instructional Days

Holidays, Vacations, Professional Development Days, Half Days

August 0 days 8/9-8/12: New Staff Orientation 8/22-8/31: Staff Summer Institute

September 18 days 9/1-9/2: Staff Summer Institute 9/5: Labor Day: School Closed 9/6: First Day of School for All Students, Half Day for All Students (12pm Dismissal) 9/7: Half Day for All Students (12pm Dismissal) 9/8: Half Day for All Students (12pm Dismissal) 9/9: Half Day for All Students (12pm Dismissal) 9/12: Eid al-Adha: School Closed

October 18 days 10/3 and 10/4: Rosh Hashanah: School Closed 10/12: Yom Kippur: School Closed

November 16 days 11/8: Election Day: No School for Students, Report Writing Day for Teachers 11/21-11/22: Professional Development Days for Teachers: No School for Students 11/23-11/25: Thanksgiving Recess: School Closed 11/28: Half Day for Students (12pm Dismissal)

December 17 days 12/1: Half Day for Students (12pm Dismissal), Family Conferences 12/2: Half Day for Students (12pm Dismissal), Family Conferences 12/26-1/2: Winter Recess: School Closed

January 18 days 1/3- 1/4: Professional Development Days for Teachers: No School for Students 1/5: Half Day for Students (12pm Dismissal) 1/16: Dr. Martin Luther King, Jr. Day: School Closed

February 15 days 2/20-2/24: Midwinter Recess: No School for Students 2/27: Half Day for Students (12pm Dismissal)

March 22 days 3/6: No School for Students: Report Writing for Teachers 3/30: Half Day for Students (12pm Dismissal), Family Conferences 3/31: Half Day for Students (12pm Dismissal), Family Conferences

April 13 days 4/10-4/18: Spring Recess: School Closed

May 22 days 5/26: Half Day for Students (12pm Dismissal) 5/29: Memorial Day: School Closed

June 19 days 6/1: Half Day for Students (12pm Dismissal), Report Writing 6/2: Half Day for Students (12pm Dismissal), Report Writing 6/22: Half Day for Students (12pm Dismissal), Family Conferences 6/23: Half Day for Students (12pm Dismissal), Family Conferences 6/26: Eid al-Fitr: School Closed 6/28: Last Day of School (12pm Dismissal)

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