Reviewed Kairos Mission Statement

Reviewed Kairos Vision Statement

Facilities Goals are still being discussed and finalized, will review at next Board Meeting

Secured the new market Tax Credit $4.5M 

Option A: Blue Hub and Lisk going in on the loan together, Lisk has a special product at 3% interest, $8M at 7.8% Interest

Option B: Equitable Facilities Fund (EFF) - 4.5% interest

Underwriting:

We are through initial intake with Bluehub and Lisk.  They will go through complete underwriting, it will take about 3 months

For EFF we would use Lisk, we would need a terms sheet from EFF

Difference between two options $250,000 year over year.  Between 1.6M and 1.9M depending on Net

Owners Rep for Construction Project:

• Allows us to hire someone on Kairos side to check construction work and development to ensure the project stays on task
  • We have evaluated the bids on the proposal
  • 2 Options based on our ratings
  • Waiting to confirm hours and distribution of time over the course of the project
• Option 1: Building Hope
• Option 2: QPD and HKW

Discussed Current Enrollment

507 Students enrolled, 96% to budgeted goal

ADA is 80.38% MS, 80.05% HS

• 227 students at MS
• 280 students at HS

Change below 10% 

Original Goal

MS - 342

HS - 360

Reviewed Program Committee Goals:

• Identify at least one new trustee Program Committee member
• Create a board-level dashboard for postsecondary school success
• Strengthen efforts to support middle school growth and excellence

Khalil provided updates on overall progress of MS and HS

Reviewed Finance Committee Goals

• Achieve a clean financial audit for fiscal year 2023-2024 
• Approve the 2025-2026 budget by June 30, 2025
• Enhance financial reporting and transparency
• Diversify revenue streams and increase funding efforts
  • Committee needs to determine how success will be measured

Finance Committee Goals are tabled until the next board meeting

Areas for Improvement:

• Establishing systems and controls to hold budget managers accountable to the budget they agreed to at the beginning of the year
• We need to do a better job at establishing processes for the Bid process for RFPs
• Putting rigor and discipline around diversifying our revenue streams

• Reviewed Executive Summary
• Reviewed September Monthly - Statement of Activities
• Reviewed September Monthly - Statement of Cash Flow
• Reviewed September Monthly - Balance Sheet

Reviewed Governance Committee Goals:

• Complete semi-annual and annual evaluation of CEO
• 85% of board members meet their annual commitments
• Execute two training programs in the next year for the full Board + advisory team
• Recruit and onboard a Treasurer before the beginning of the next school year

The following Updates to MCPSA Charter Model Policies

• Personal Financial Disclosure 
• Official School Year And School Day Model Policy
• Identification Cards Model Policy [only required for schools that serve pupils in
  grades 7-12 and issue school IDs]

Tom has reviewed the Updates and has no concerns.

• Executive Committee has opted out of Committee Goals for this school year
• PTA - A number of parents are organizing what would be some form of a PTA.  
  • They have yet to determine at what level they will form
  • The Board will provide the parents with information, resources and guidance

• If you have not scheduled Connection time with Khalil, please follow up with Stella to schedule before EOY
• Khalil shared the Source of Truth Document with the Board
  • Stella reviewed the Operating Mechanisms and Goals & Metrics Folder of the Master BOY Ready Folder
    • Operating Mechanisms - This folder helps keep track of standard operating mechanisms across teams
    • Goals and Metrics - Updated cycle by cycle, this ensures we're staying on track with goals and metrics throughout the year
• Strategy/Task Force Team have conducted 2 meetings discussing the best pathway to move forward with guiding questions for Kairos, discussing what kind of organization do we want to be.  They will have something formulated for the board at our Mid Year Board Retreat
  • Projected Operating Cost:
    •  High School will cost for staffing $1.9M, Middle School will cost for staffing $1M