Given the Board's request for proposals for insurance providers; Aaron Schwen, Founder of CharterSelect, will join the Board to provide a preliminary proposal. Should the Board decide to enter a contract with another insurance provider, notice is due to Charter Safe in March, and new policies will begin July 1, 2027. 

This presentation is for information purposes only. 

Executive Director Report

• Prop 39 Request and Facilities Updates
• School Musical Update
• Volunteer Paperwork -- new window opening

Director of Daily Operations Report

Director of Student Support Report

Consent Items: Items proposed for the consent calendar are noted on the posted agenda and are considered by the Director to be of a routine nature.  Any item may be removed from the consent calendar at the request of any Board member and placed under the appropriate action category.  A vote will be taken for the consent calendar so that any items requiring a vote can be properly addressed.  It is recommended that all consent items be approved.

6.1       Financial Reports
            6.1.1    Checks
            6.1.2    Financial Statements
            6.1.3    Purchase Orders
            6.1.4    Amazon Purchases
                 
6.2        Personnel Report

BRIDGES CHARTER SCHOOL

BOARD OF TRUSTEES

RESOLUTION NO. 2026-04

A RESOLUTION OF THE BOARD OF TRUSTEES OF BRIDGES CHARTER SCHOOL AUTHORIZING THE OPENING OF AN INVESTMENT ACCOUNT WITH Fidelity 

FOR THE INVESTMENT OF SCHOOL RESERVES AND DESIGNATING AUTHORIZED SIGNERS

November 9, 2027

Recitals

WHEREAS, Bridges Charter School (the "School") is a California public charter school authorized by the Ventura County Office of Education, and the Board of Trustees (the "Board") is responsible for the prudent stewardship of the School's financial resources; and

WHEREAS, the School maintains cash reserves in excess of its near-term operating needs, and those reserves currently earn little or no interest; and

WHEREAS, low-risk investment vehicles, including certificates of deposit, U.S. Treasury and federal agency securities, and government money market funds, can preserve principal while providing a reasonable return; and

WHEREAS, the Board intends that School funds be invested with safety of principal as the first priority, liquidity sufficient to meet operating needs as the second, and return as the third; and

WHEREAS, the Board finds that investing a portion of the School's reserves in low-risk instruments is consistent with the School's fiscal policies and is in the best interest of the School and its students;

Resolution

NOW, THEREFORE, BE IT RESOLVED by the Board of Trustees of Bridges Charter School as follows:

1. Authorization of Account. The Board authorizes the opening of one or more investment accounts in the name of Bridges Charter School (EIN 27-0706178) with Fidelity, including its affiliated brokerage or investment services as needed, for the purpose of investing School reserves in Permitted Investments. All investments shall be made, managed, and reported in accordance with the School's Board-adopted fiscal policies, as amended from time to time.
2. Permitted Investments. School funds in the account may be invested only in the following:
3. Certificates of deposit issued by FDIC-insured institutions;
4. U.S. Treasury bills, notes, and bonds;
5. Obligations of U.S. government agencies and government-sponsored enterprises;
6. Money market funds that invest exclusively in U.S. government securities; and
7. Other investments approved in advance by the Board.

Investments in stocks, corporate bonds, or other instruments not listed above are not authorized without prior Board approval.

1. Authorized Signers. The following individuals are designated as authorized signers on the account, with authority to open the account, execute account documents, and purchase, renew, sell, and redeem Permitted Investments on behalf of the School: Kelly Simon, Executive Director, Katerina Yevmenkina, Board President, Chase Dapello, Board Member, Cindy McCarthy, Director of Daily Operations 
2. Safety of Principal. Certificates of deposit held at any single institution shall remain within FDIC insurance limits, currently $250,000 per depositor, per insured bank, per ownership category, unless the excess is otherwise insured or collateralized.
3. Source and Transfer of Funds. Funds shall be transferred only from the School's reserves and only to the extent that the transfer does not impair the School's ability to meet payroll, vendor obligations, and other operating cash needs.
4. Reporting. The Executive Director shall report holdings by type, maturity dates, current value, and earnings to the Board as part of the regular financial reports presented at Board meetings.
5. Further Actions. The authorized signers are directed to take any further actions and execute any documents reasonably necessary to carry out this Resolution.

The Board will consider and may take action on an employee’s appeal of an administrative determination regarding eligibility for the Catastrophic Leave Program. Supporting materials have been provided to Board members confidentially.