Bridges Preparatory

Public Charter School
BEAUFORT COUNTY REQUEST
BRIDGES PREPARATORY SCHOOL
“BPS”
•Bridges Preparatory Public Charter School (BPS)
•BPS has selected a site location, purchasing Boys and Girls
Club on Boundary Street in Downtown Beaufort
•Opened in 2013-2014 with Kindergarten through 6
th
grade
•BPS will add a grade level each year thereafter and
ultimately serve grades Kindergarten through 12
th

•Teacher to student ratio 14:1 ~ Class size: 20 students
BRIDGES PREPARATORY SCHOOL
SUCCESSES
•96% of 358 students signed intents to re-enroll
•All classes FULL for next year with 142 on waiting list
(grades K-7)
•100% of teachers returned signed contracts for next year
•Students from Beaufort, Bluffton, St. Helena, Whale
Branch, Port Royal, Okatie, Yemassee, Jasper and
Hampton Counties
BRIDGES PREPARATORY SCHOOL
FACTS
•Funding ~ New Money into Beaufort County
•Funded by the State of South Carolina
•BPS educates with $5,300 per child versus BCSD’s $10,600
•We educate 358 children grades K-6 (this school year)
•2013-14 budget ~ $2.7 Million
•Projected Fund Balance ~ $500,000+
•Purchasing permanent facility, adding 4 classes per year, up
to 780 students by 2018
•Need to expand and redevelop the site due to demand
BRIDGES PREPARATORY SCHOOL
INNOVATION
•PAIDEIA instructional method
•STEM-infused curriculum
•Paideia National Organization school partnership will:
•Highlight the belief that each child is unique
•Successfully educate the whole child
•Character-based education
•Small class size
•Curriculum aligned with State and National Standards
BRIDGES PREPARATORY SCHOOL
GOVERNANCE
•South Carolina Public Charter
School District
•BPS Charter School Board of
Directors
•BPS Head of School
•BPS Faculty
•BPS Parents
•Professional Fiscal
Management:
 Accounting firm McKay,
Kiddy & Associates
 Audit firm Elliott-Davis

BPS functions as an organization through the order of the following entities:
•No state funding for charter school buildings other than
private sources
•Start-up charter schools need 3-5 years of funding to obtain
external capital (need 3-5 years of financial statements to get
a loan)
•Private equity ~ increases the interest rate and is still a
lease; BPS would not own its facilities
1. Are there other sources of funds? Restricted
BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
•BPS is a state-funded public charter school
•Our funding is from the State of SC, not from the local county
school district
•Projections show $40 million in revenue over the life of our initial
10-year charter

2. Will the project create revenue? Yes
BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
5-year BPS Revenue Projections:
• Year 2014-15 - $3,205,988
• Year 2015-16 - $3,548,787
• Year 2016-17 - $4,075,888
• Year 2017-18 - $4,602,989



2. Will the project create revenue? Yes

BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
3. What are the maintenance and personnel costs?



$144,000
$75,000
$26,000
$15,000
$18,000
0
Operations
Rent Utilities Insurance Maintenance Custodial
Rent $144,000
Utilities $75,000
Insurance $26,000
Maintenance $15,000
Custodial $18,000
Maintenance costs are
1% of revenue and 11%
of total expenses.
$1,285,222
$24,350
$160,976
$6,556
$95,941
$89,009
0
Personnel Cost
Salaries Retirement
Group Health & Life Insurance Workers Comp Tax
Social Security Other
Salaries $1,285,222
Health & Life Ins. $160,976
Social Security $95,941
Retirement $24,350
WC Tax $6,556
Other $89,009
Personnel Costs are 6% of
revenue and 65% of total
expenses.
BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
FISCAL YEAR TOTAL JOBS ESTIMATED PAYROLL
•Year 2014-15 37 $1,989,481
•Year 2015-16 45 $2,435,935
•Year 2016-17 53 $2,670,564
•Year 2017-18 62 $3,064,325
•Year 2018 -19 72 $3,111,274



4. Will this create jobs? Yes
BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
•BPS does not take money from the local district, leaving
BCSD more money to educate fewer children
•BPS has no attendance zones inside the state, therefore,
children from all over South Carolina can attend
•Encourages new residents to move to Beaufort County
•Reduces the migration of Beaufort students to overcrowded
Bluffton schools


5. Will this help Beaufort County as a whole? Yes
BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
If the project was privately funded, the interest cost would be
close to $3 million over 5 years. If funded, all of the saved interest
will be available to improve instruction.




6. Has a cost benefit study been done on the project?

BRIDGES PREPARATORY SCHOOL
6 COUNTY QUESTIONS
BRIDGES PREPARATORY SCHOOL
WHAT WE NEED
•BPS invests $1.4 million
•This investment buys the Boys and Girls Club building on
Boundary Street and initial renovation (2013)
•Paid for with cash flow from a successful year
•County Request: $6.8 million builds a full K-8 facility
•Bridges uses local contractors to redevelop the old Boys
and Girls Club building and site



BRIDGES PREPARATORY SCHOOL
BEAUFORT FACILITY
•Redevelopment of a blighted area, increasing property
values
•Reduces pressure on Bluffton schools as the migration of
students to Bluffton from Beaufort slows down
•Beaufort County will be known for its school choice
leadership - an incentive for industry and resident relocation
•Open attendance zone allows residents more choice on
where to live and home investment
BRIDGES PREPARATORY SCHOOL
“BPS”
• BPS’s proposal is an economic stimulus and redevelopment opportunity
leveraging public/private investment
•$40 million projected NEW revenue over 10 years
•The proposed school site leverages existing underutilized public assets
already supported by tax dollars:
 Downtown Beaufort Co. Library, Charles Lind Brown Center, county
athletic fields and city parks
 BPS reduces cost to tax payers by providing revenue and/or cost-share
to Beaufort County and The City of Beaufort when utilizing their facilities

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