Summit Academy Charter School
Minutes
December Board Meeting
Date and Time
Tuesday December 17, 2024 at 6:00 PM
Trustees Present
C. McCants, D. Sleet, J. Hartley (remote), K. Montgomery, M. Bernard (remote)
Trustees Absent
A. Murray, A. Young, D. Tomlinson
Guests Present
Alan Apestegui, N. Campbell (remote), T. Price (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Academic Excellence
A.
Principal's Report
III. Finance
A.
November Unaudited Financials
As of November 19, we have settled our account with Peapack Gladstone Bank with $1,050,000.00- all funds are Fully Liquid, and FDIC insured.
- Checking account - where we will maintain $10k (No interest).
- 1 interest-bearing checking account that will gain 4.75% interest.
- Rates and funds will be liquid, keeping $240k in the account.
- 1 Fully FDIC insured account, called R&T Account), the interest rate is 4.55% - all extra funds in excess of the $250k will automatically go into R&T account.
We currently have 104. 2 days of cash on hand. Our next per-pupil deposit will be deposited into our account before 12/31/24.
IV. Committee Reports
A.
Governance
McCants has focused on ensuring the board complies with the DOE renewal.
- Board training based on the survey on board on track
- Board members have been accessing Board training through the DOE
- Four one-hour sessions, virtual and pre-recorded.
- Board members can submit documentation to recognize the completion
- All DOE reporting is complete
B.
Academic Achievement
Dr. Tomlinson is unable to join the call this evening but has been engaged with school leadership regarding the DOE visit.
C.
Development/Fundraising
Discussion with Dr. Sleet about taking on the role of Development Chair for the Board.
- The board will set a financial goal for the board to support the school financially.
- Plan to launch this committee for the upcoming school year
Vacancies
New Hires for 24 - 25
Enrollment
Authorizer Visit
On December 11th we were visited by our DOE Authorizers. The purpose of the visit was to observe actionable items that were cited in our renewal conditions as they look for evidence of progress. In addition, to lend support in key areas of the school community that address deficits in teacher effectiveness and student achievement.
Here are the key takeaways and observations made during the visit:
Overall the meeting was positive and they offered their support to Summit as a partner who can support and assist in our efforts to ensure that Summit Academy Charter School thrives. They cited that there is a need for Summit in this community where there a limited choices for young people in terms of school choices.
Here are some of their suggestions:
They want to schedule another visit in February and we are looking at possible dates. On their next visit they informed us as to what they would like to observe when they return. The requested the following: