Central Florida Virtual Charter School Board Inc.

“The 990 is prepared by an independent cpa firm and a draft is provided to management and the board for review. The final 990 is provided to the board for approval.”

“At each board meeting, the agenda is notated to remind board members to recuse from voting on any item that may be a conflict of interest.”

“The principal is paid in accordance with the school district's pay scale.”

“During the current fiscal year the school was informedby the florida department of education that theaccounting for its balanced budget credits, per the management agreement, needed to be revised.the school now reports its balanced budget credits as revenue, rather than a reduction ofexpenses. This accounting treatment revision drives the significant year over year variance in other revenue reported in part i, row 11 on page 1.”

“The school entered into aneducational products and services agreement for the period july 1, 2012 to june 30,2019, with k12 florida, llc (the company). Thereafter, the agreement willautomatically renew consistent with the extension of the charter agreement unless eitherparty provides the other with written notice of non-renewal at least two years before theexpiration of the then current term or if other certain conditions are met resulting in anearlier termination. During the term, k12 and affiliates shall license to the schoolsolely for use in the schools educational program, on a non-exclusive, non-assignable,non-sublicensable basis, the products and offerings of k12 curriculum, access to itsonline school and designated learning management systems and/or available third party curriculum, instructional tools and other products and offerings collectively known aseducational products.the contract further calls for the company to be responsible and accountable to theschools board for administrative and technology services, including operation andperformance of the school in accordance with the schools charter contract, thestatement of mission and purpose, and the laws of the state of florida. Anadministrative services fee of 15% and a technology services fee of 7% of the schoolsprogram revenues compensate the company for the services provided.”

“Board of education 17336. 0. 17336. 0.”

“General administration 25343. 0. 25343. 0.”

“School administration 138051. 69026. 69025. 0.”

“Fiscal services 13. 13. 0. 0.”

“Operation of plant 20276. 20276. 0. 0.”

“Maintenance of plant 9. 9. 0. 0.”

“Instructional staff training 1073. 1073. 0. 0.”