EPA-Education Protection Account
Montague Charter Academy
2017-18 Education Protection Account (EPA) Spending Plan
Proposition 30, The Schools and Local Public Safety Protection Act of 2012, approved by the voters on November 6, 2012, temporarily increases the states sales tax rate for all taxpayers and the personal income tax rates for upper-income taxpayers.
The new revenues generated from Proposition 30 are deposited into a newly created state account called the Education Protection Account (EPA). School districts, county offices of education, and charter schools (LEAs) will receive funds from the EPA based on their proportionate share of the statewide revenue limit amount. A corresponding reduction is made to an LEA’s revenue limit EPA entitlement. LEAs will receive EPA payments quarterly beginning with the 2013-14 Fiscal Year.
Proposition 30 provides that all K-14 local agencies have the sole authority to determine how the funds received from the EPA are spent, but with these provisions:
- The spending plan must be approved by the governing board during a public meeting.
- EPA funds cannot be used for the salaries or benefits of administrators or any other administrative costs.
- Refer to the attached list of functions for which EPA funds may be used.
- Each year, the local agency must publish on its website an accounting of how much money was received from the EPA and how the funds were expended.
Montague Charter Academy estimated 2017-18 EPA Entitlement is $990,860. All funds apportioned for EPA in FY1718 will be used for Certificated Teacher Salaries and Benefits.
Source: Financial Crisis and Management Assistance Team: Local Control Funding Formula Calculator, version 17.2b calculated on Apr. 26th 2017.