Summit Academy Charter School
Minutes
April Board Meeting
Date and Time
Tuesday April 25, 2023 at 6:00 PM
Trustees Present
A. Murray (remote), C. McCants (remote), K. Montgomery (remote), L. Almonte (remote), M. Bernard (remote), V. Connelly (remote)
Trustees Absent
M. Nieves
Guests Present
Connie Hamilton (remote), Juned Haque (remote), M. Kohlhagen (remote), M. Spencer-Edwards (remote), N. Campbell (remote), S. Handshaw (remote), S. PĂ©rez-Sadler (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
M. Bernard called a meeting of the board of trustees of Summit Academy Charter School to order on Tuesday Apr 25, 2023 at 6:08 PM.
C.
Approve Minutes
V. Connelly made a motion to approve the minutes from March Board Meeting on 03-28-23.
A. Murray seconded the motion.
The board VOTED unanimously to approve the motion.
II. Academic Excellence
A.
Principal's Report
III. Finance
A.
February Financials
Balance Sheet
- $2.6 Million in the bank
- $373,978 in receivables from Federal Title Funding
- There will not be a cash deficit but we project a deficit of close to $800,000 at the close of the year
Cash Flow Projection
- Expect to have 162 days of cash on hand
M. Bernard made a motion to accept Summit Academy's 990 form for submission to the IRS by May 15, 2023.
V. Connelly seconded the motion.
The board VOTED unanimously to approve the motion.
Interest Analysis
- Discussion about whether should move $2 million into this account.
- Consider moving less to see the returns so that the school does not have all reserve monies tied up.
Board will discuss moving funds to ICS bank based on rates analysis. Board members with finance background will lead the discussion.
IV. Other Business
A.
SACS Renewal Process
- Board should meet with Pasek Consulting to discuss structural changes
- School leadership will receive first report and then the board will be engaged.
- Pasek will support with board preparation for the renewal
CEI Presentation
- Working with coaches to determine which scholars are PID and how many of the supports they are taking advantage of.
- Support with data analysis by coaches. What does the data say?
- Working on Student Teachers from St. Francis College joining the Summit Team
- School Leader evaluation will be presented at the June meeting
B.
New Members
Kenneth has been approved by the DOE. We are still waiting for Al Young and Sugeni Perez-Sadler.
V. Closing Items
A.
Adjourn Meeting
V. Connelly made a motion to adjourn the meeting at 7:42pm.
A. Murray seconded the motion.
The board VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 7:42 PM.
Respectfully Submitted,
M. Bernard
Vacancies
Enrollment currently at 208
Recruitment Efforts