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Equitas Spending Plan

FY 2013-14 Education Protection Account Spending Plan

Approved by the Equitas Academy Charter School Governing Board on June 27, 2013

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.

In FY 2013-14, EPA funds are estimated to be 16% of a school’s total general purpose entitlement. Based on current projections, Equitas Academy Charter School’s 13/14 EPA funds are projected to be $355,132 and Equitas Academy Charter School #2’s 13/14 EPA funds are projected to be $96,203.*
These funds will be allocated to support teacher salaries in FY 2013-14.

* Equitas Academy Charter School #2’s EPA funds are now projected to be $200 x ADA or $11,520.

For more information regarding Equitas Academy's FY 2013-14 Spending Plan, please contact:

Malka Borrego, Executive Director & Founder
[email protected]
(213) 201-0440