Hello, Angela,
I'm not clear on this type of problem, so please read cautiously. I believe the vertex form of a function is represented by the equation f (x) = a(x - h)2 + k, where (h, k) is the vertex of the parabola. For this equation, I get h = -16(t-1)^2 + 64. The vertex is therefore (1, 64). The h is the shift to the right and k is the vertical shift.
When I plot the graph, it is an inverted parabola, with a maximum at around t = I. I initially had difficulty explaining it, but it appears the height at t = 0 is 48 feet, which I assume is the roof height. Due to the fact that the balloon goes up upon release, I must assume it is literally launched upwards until gravity slows it down to zero at the vertex and it starts falling at 32ft/sec2, the acceleration due to gravity. It appears that it will hit ground at 3 seconds.
Good luck. I hope this is correct, but please check carefully.
Bob