RePublic Schools
RePublic Board of Directors Meeting - June
Date and Time
Agenda
Purpose | Presenter | Time | |||
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I. | Opening Items | 1:00 PM | |||
A. | Record Attendance | 1 m | |||
B. | Call the Meeting to Order | Erika Berry | |||
C. | Review Minutes | Vote | Erika Berry | 2 m | |
Motion to amend the minutes from the last board meeting to:
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D. | Approve Minutes | Approve Minutes | Erika Berry | 1 m | |
Approve minutes for RePublic Board of Directors Meeting - April on April 27, 2023 | |||||
II. | CEO Report | 1:04 PM | |||
A. | CEO Update | FYI | Ashley Gallimore | 15 m | |
Ashley Davis Gallimore provides an update on first 90 days priorities progress and leadership changes for SY24. |
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III. | Finance Report | 1:19 PM | |||
Wood Caldwell and Stacie Landry will provide a financial update. |
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A. | Budget for SY23-24 | Vote | Stacie Landry | 25 m | |
Stacie Landry and Wood Caldwell will present the Board with the final budget for SY23-24 for approval. |
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B. | Batch Financial Vote | Vote | Wood Caldwell | 1 m | |
Motion to approve the FY24 budget for all schools & both companies based on the budget provided in this presentation |
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C. | Finance Update | FYI | Stacie Landry | 8 m | |
Stacie will walk through the April financial update |
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D. | RFP Approvals | Vote | Stacie Landry | 3 m | |
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E. | Capital Expenditure Threshold Change Approval | Vote | Stacie Landry | 1 m | |
Republic Schools current threshold limit for capitalized items is $500. Motion to increase this limit to the following:
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F. | Bank Authorized User Approval | Vote | Stacie Landry | 2 m | |
Motion to update signers on the six (6) Pinnacle Accounts as noted below:
Account 5916502 Remove the following signers: Glenn Turtel, Laurie Brown, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass
Account 800104467097 Remove the following signers: Glenn Turtel, Laurie Brown, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass
Account 5471654 Remove the following signers: Glenn Turtel, Laurie Brown, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass
Account 3000065619 Remove the following signers: Glenn Turtel, Laurie Brown, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass
Account 800104852231 Remove the following signers: Glenn Turtel, Jonathan Rybka, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass
Account 800105093777 Remove the following signers: Glenn Turtel, Jonathan Rybka, Leroy Harris, Stewart Hood Add the following signers: Ashley Davis Gallimore, Erika Berry, Angela Bass |
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G. | RSI and RSN Capital Line of Credit Approval | Vote | Stacie Landry | 2 m | |
RePublic Schools, Inc.: Approval is requested to open a Working Capital Line of Credit for up to $750,000 of borrowings. The expected terms are: (1) rate to be between Prime + 0%; (2) Term to be 1 year; (3) Fixed charge coverage ratio covenant of 1.10X; (4) Commitment Fees of 0.25% (plus legal); (5) Bank: Pinnacle Financial Partners; (6) Potentially a guaranty by RePublic Schools Nashville
RePublic Schools, Inc.: Approval for Wood Caldwell or Ashley Davis Gallimore to sign all legal documents related to RePublic Schools, Inc.’s Working Capital Line
RePublic Schools, Inc.: Approval to guaranty RePublic Schools Nashville’s $800,000 Working Capital Line of credit
RePublic Schools Nashville: Approval is requested to renew the company’s Working Capital Line of Credit for up to $800,000 of borrowings. The expected terms are: (1) rate to be between Prime + 0%; (2) Term to be 1 year; (3) Fixed charge coverage ratio covenant of 1.10X; (4) Commitment Fees of 0.25% (plus legal); (5) Bank: Pinnacle Financial Partners; (6) Guaranty by RePublic Schools, Inc.
RePublic Schools Nashville.: Approval for Wood Caldwell or Ashley Davis Gallimore to sign all legal documents related to RePublic Schools Nashville’s Working Capital Line
RePublic Schools Nashville: Approval to guaranty RePublic Schools, Inc.’s $750,000 Working Capital Line of credit |
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IV. | Organizational Updates | 2:01 PM | |||
A. | Spring Academic Update | Discuss | Kevin Heffel | 18 m | |
Kevin Heffel will present on spring NWEA and third grade reading testing |
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B. | SY24 Board Priorities | Discuss | Erika Berry | 40 m | |
E. Berry will present plan for SY24 Board Priorities. |
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V. | Other Business | 2:59 PM | |||
A. | SY24 Board Meeting Dates | Vote | Erika Berry | 1 m | |
Motion to approve the following board meeting calendar for SY23-24:
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VI. | Closing Items | 3:00 PM | |||
A. | Adjourn Meeting | Vote | 1 m |