The Anchor School
Minutes
Board of Directors Meeting
Called Meeting
Date and Time
Wednesday July 17, 2024 at 7:00 PM
Location
Virtual Meeting
Directors Present
D. Gregory (remote), D. Grissom (remote), J. Anfield-El (remote), J. Burton (remote), J. Whittington (remote), N. LeBlanc (remote), V. Thompson (remote)
Directors Absent
E. Desprez Isbell, L. Stephens
Guests Present
G. Stevens (remote), K. Cadman (remote), L. Long (remote), Lisa McDonald (remote), M. Felts (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
D. Gregory called a meeting of the board of directors of The Anchor School to order on Wednesday Jul 17, 2024 at 7:06 PM.
C.
Approve Minutes
D. Gregory made a motion to approve the minutes from Board of Directors Meeting on 06-26-24.
D. Grissom seconded the motion.
- Section 2D, second bullet: Will correct "ad" to "and" (small typo)
- Will edit Vanecia Thompson's name to reflect V. Thompson.
II. Finance Updates (Treasurer / CFO)
A.
Enrollment Update
- 76 re-enrolled
- 33 new enrolled (7th grade)
- 93 new enrolled (6th grade)
- 202 TOTAL enrolled
- Huge thanks to the Community Engagement committee for a successful Phone-a-thon!
B.
Days Cash on Hand
- Ended the month with 31 days cash on-hand (goal is to have at least 60 days), based on bank account balance. Financial statements were unavailable.
- Grant reimbursement was delayed, leading to an issue with cash on-hand.
- Still interviewing CFO candidates
III. Public Comment
A.
Public Comment
No public comment
IV. Governance
A.
Governance Findings & Recommendations
Governance consultants (Cobalt21) would like to offer continued support in these areas:
- Working with committees more closely to make sure the agendas are set up correctly
- Supporting the Board in vetting new board candidates
- Collaborating with Hive180 however needed for ultimate success of TAS
- Initiating a Day 1 and Day 45 model for enrollment tracking/success
B.
Hive180 (HOS Advisor) Update
- Lisa and Kelly are focused on successful financial management, and startup-type of operational systems and processes
- Hive180 has created a dashboard for their engagement. This includes:
- Work they’ll be doing and how their time will be spent
- Goals and tasks
- There’s already been progress in this engagement — Hive180 has a good grasp of where things stand
- Working on understanding what’s allowed/reimbursed in the CSP grant
C.
LEA Legal Updates (July 1, 2024)
- Dr. Gregory asked each committee chair to review the LEA documents and identify items that relate to ther respective committees.
- Once identified, committees should address the respective items within the committee structure.
- The administrative team is also reviewing the document.
- Legal counsel was also provided a copy.
D.
CSP Grant Amendment
J. Anfield-El made a motion to approve amendments to the CSP grant policy for use of funds.
J. Whittington seconded the motion.
The board voted and agreed to accept and comply with the terms and conditions outlined in the CSP Grant Amendment. Dr. Gregory will sign and return the CSP grant amendment to the funder.
E.
Executive Session
Closed at 8:33pm
F.
Vote: HOS PDP Amendments
J. Whittington made a motion to approve amendments to the PDP.
D. Gregory seconded the motion.
The two amendments
- Cash on Hand Target: changed to 15–25 days on cash on-hand by Dec 31, 2024
- Federal Grant Drawdown: changed to $250-330K drawdown by Dec 31, 2024.
Dr. Gregory will revise the professional development plan according to board specifications and will route the PDP to Dr. Pinto Taylor for signature.
G.
Head of School SY25 Contract & Job Description
N. LeBlanc made a motion to Approve a one-year contract and job description for the HOS: $90K base salary with a $30K bonus received after HOS successfully completes the objectives outlined in the professional development plan (PDP) by Dec 31, 2024.
J. Anfield-El seconded the motion.
- Successful completion of all five objectives outlined in the PDP
- Cash on-hand and federal grant drawdown must increase by June 15, 2025, as follows: achieve 30 days cash on hand by June 15, 2025, and complete at least $450,000 in federal grant funding drawdown by June 15, 2025.
- The job description is approved as drafted.
- Dr. Gregory revised the contract according to board specifications and will route the contract and job description to Dr. Pinto Taylor for signature.
V. Items for Information
A.
Procurement & Staff Purchases
- TAS budgeted for $20K for the CFO - now anticipating increases for this service which will affect the budget
- This action item is assigned to the Finance Committee.
VI. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:02 PM.
Respectfully Submitted,
N. LeBlanc