Oakland School for the Arts Financial Statement OSA is funded by a combination of federal, state, and local sources. Each year, the school must raise 10-14% of its annual revenue from philanthropic sources. As OSA does not charge tuition, the school depends on donations to bridge the gap between government funds and OSA’s per student cost.
END OF FISCAL YEAR / 2021–2022
2021–22 Unaudited Actuals
REVENUES State $9,061,745 Federal $198,175 Donations and Grants $983,862 Other Local Total Revenues
$545,891 $10,789,673
EXPENSES Certificated Employees
$5,672,723
Classified Employees
$1,176,805
Employee Benefits
$1,887,156
Books and Supplies $362,596 Services and Other Operating $3,241,691 Depreciation and Fees Total Expenses
$213,729 $12,554,700
In the 2021–22 school year, OSA had an annual operating deficit as a result of: • Increased teacher compensation via new labor contracts; • A one-time correction in employer retirement contributions; and • Enhanced student support services and additional operational expenses due to the pandemic. OSA was fortunate to have reserves in place to support us financially through the school year. We are now focused on replenishing those reserves and moving forward with balanced budgets in 2022-23 and beyond.
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