Financial Statement

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 Federal Donations and Grants Other Local Total Revenues

$9,061,745 $198,175 $983,862 $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 $213,729 Total Expenses $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 .