Summit Academy Charter School
Minutes
October Board Meeting
Date and Time
Tuesday October 20, 2026 at 6:00 PM
Trustees Present
C. McCants (remote), K. Montgomery (remote), M. Bernard (remote), T. Coleman-Brown (remote)
Trustees Absent
A. Murray, A. Young
Guests Present
Darnell Williams (remote), J. McDonald (remote), Jonathan Barger (remote), Juned Haque (remote), Melissa Cleveland (remote), Michelle Haynes (remote), N. Campbell (remote), S. Handshaw (remote), T. Price
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Academic Excellence
A.
Principal's Report
B.
Approval of Summit Academy Charter School's Ice Policy
III. Committee Reports
A.
Development
Charter Renewal and Board Reconstitution
Renewal submission and DOE correspondence
- Toni reported that the renewal and board reconstitution committee submitted a revised charter renewal application on October 19 in response to the DOE’s October 9 clarification request.
- She said the application reflects the board reconstitution pathway and a distinct educational advisory relationship with Next Generation.
- The DOE also confirmed that its October 15 informal meeting with Next Generation did not change the October 9 requirements or the October 19 deadline.
Trustee process and governance review
- Toni said prospective trustees identified through Next Generation were invited for introductions and initial discussion of Summit’s mission, priorities, and board responsibilities.
- She stated that candidate interviews, eligibility checks, conflict-of-interest review, and transition steps will follow established board procedures.
- The committee will continue coordinating with counsel on trustee process requirements and any further authorizer correspondence.
- She emphasized that no appointment, advisory agreement, merger, or renewal determination should be treated as approved or complete.
B.
Academic Achievement
C.
Renewal
Charter Renewal and Board Reconstitution
Renewal submission and DOE correspondence
- Toni reported that the renewal and board reconstitution committee submitted a revised charter renewal application on October 19 in response to the DOE’s October 9 clarification request.
- She said the application reflects the board reconstitution pathway and a distinct educational advisory relationship with Next Generation.
- The DOE also confirmed that its October 15 informal meeting with Next Generation did not change the October 9 requirements or the October 19 deadline.
Trustee process and governance review
- Toni said prospective trustees identified through Next Generation were invited for introductions and initial discussion of Summit’s mission, priorities, and board responsibilities.
- She stated that candidate interviews, eligibility checks, conflict-of-interest review, and transition steps will follow established board procedures.
- The committee will continue coordinating with counsel on trustee process requirements and any further authorizer correspondence.
- She emphasized that no appointment, advisory agreement, merger, or renewal determination should be treated as approved or complete.
IV. Finance
A.
September Unaduited Financials
Audited Financial Statements
Clean audit opinion and reported results
- Juned reported that the 2025–26 audited statements received a clean audit opinion, with no material issues found in the records or estimates.
- He noted that the statements were consistent with the version previously presented to the board.
- Revenue totaled a little over $8 million, expenses were about $7.9 million, and the year ended with a surplus of $151,000.
- Expense allocation and financial statement contents
- Juned explained that program services accounted for about 91% of expenses, with the remaining 9% split between management/general and fundraising.
- He said the cash flow statement and notes were standard, with no new accounting pronouncements or rule changes.
- Mr. Bernard added that the auditors were impressed with the quality and clarity of the work provided.
Year-to-Date Financial Performance
Balance sheet and cash position
- Juned reviewed the 2026–27 year-to-date statement through September 30, 2026.
- Cash and cash equivalents included about $1.27 million in the operating account and $1.48 million in another cash account.
- He said two of six DOE deposits had been received, with the third expected by month-end and the fourth by the end of December.
- Prepaid expenses were about $67,000, mainly for insurance, and deferred revenue was $539,000 tied to a deposit received in August.
Surplus and budget comparison
- Juned reported a year-to-date surplus of $413,000, which increased net assets from a little over $2 million to $2.4 million.
- Revenue was about $1.7 million and expenses were about $1.28 million.
- He explained that early revenue is partly based on estimated DOE invoices, so it can appear higher until enrollment-based corrections are made later in the year.
- Compared with the board-approved budget, revenue was slightly above target at about 26%, while expenses were at 19%, with timing differences expected to balance out later.
Cash flow forecast
- Juned said the cash projection covered the next three months using expected DEU deposits and budget-based outflow estimates.
- He noted that December would likely be the school’s strongest liquidity point because four of six deposits would have been received by then.
- He also said the lowest cash position occurs near the end of the fiscal year when only two deposits have been received.
Academic Data, Instruction, and Student Support
Assessment results and instructional response
iReady diagnostic findings
Data analysis protocol and follow-up cycle
Coaching and classroom observation
School Climate, Attendance, and Family Engagement
Attendance, discipline, and enrollment
Family outreach, recruitment, and compliance
Upcoming school events