Discussed the current numbers 340 and that there is increased interest in Vertus. We also talked about the increasing suspensions at other RCSD, parents are seeking alternative options such as Vertus.  We also have an increase in the number of students coming to Vertus for tours. 

We discussed board statistics and address what was taking place in November that caused a dip in retention.  We are back on track and have done an attendance blitz leading up to the Christmas break.  We also talked about the shift in credit completion between October and November.  Part of the change was an administrative decision to address some issues with AI and testing external of Vertus. 

We discussed the results of the Vertus Gala and the revenue generated from the event (Net of $177,300+). 

We are on track with projected budget spending (a little below expected)

Cash reserves are strong and we expect that to continue through March and we will update again at the next Board Meeting.  

Discussion about how to better invest our cash to take advantage of interest rates, etc.  We are exploring several options to make an informed decision.  We will update again at the next board meeting. 

We talked about quarterly endowment updates from Key Bank.  More discussion to follow. 

We discussed the current least (and finalizing that) as well as the plan for a potential 5-year lease that includes additional space adjacent to the current footprint for Vertus.  We are waiting for an actual cost associated with this potential request.  We are also ensuring that we are meeting all of the NYS requirements for a potential build out.  

We are awaiting word from NYSED to make additional decision about the potential expansion. 

We talked about Board Governance and the expectation of Board members.  We have one board member whom we had to go through the process of removing officially.  We following all guidelines in making a formal decision. 

We discussed our annual retreat as well as other times (e.g. January or March) where we can have an offsite meeting.  The consensus is that we do need to have such a meeting for succession planning for the Board.  

We discussed the results of the Vertus Gala and the revenue generated from the event (Net of $177,300+).  We are also looking for potential co-chairs for the 2026 Vertus Gala.  

Julie will look for a date in March 2026 for a Board planning meeting.  

Tori will help with identifying a speaker who can assist us with how to better work with our elected officials in support of Vertus.