Reviewed School Mission and Vision

No updates

Whitney will attend the May PTA Meeting

• Committed funds to break even, anything above will go towards fundraising goal
• Board Members are purchasing tables, Remaining Board Members can purchase tables on the link
• If you're unable to attend the Gala, we are asking Board Members to still sponsor a table

• We are closely monitoring decline in enrollment for Middle School and using the data to target middle school engagement retention
• We are seeing strong growth in high school enrollment and engagement from the High School team
• Programing, Outreach and Safety reports
• Safety protocols have been enhanced at the facilities, Resource officers have contributed to safe environment
• Use student data to support what we offer the next year
• 200 applicants re-enrolled, goal to complete 200 more re-enrollments by end of July
• Secured 72 student registrations for New Enrollment
• Opportunities for Board Members to do outreach and recruit New Families
• PTA ask to do outreach to new potential families
  • Send someone from Recruitment/Strategy to the PTA Meeting

Reviewed General Overview of School Calendar 25-26 SY

• Start Aug 18th, aligned with SLPS
• HS classes start at 8:00, MS classes start at 8:10
• School Year ends June 30, 2026
• HS and MS enter through different parts of the building
• Adding an additional bad weather day in the Winter of 2026

Introductions:

• Charles Brazeale, he is with LDR and will be giving Financial Reports and Financial Strategy
• Abby Devereux is joining the Finance Committee as an Advisor
• Pat Garrett works at City Garden Montessori and has agreed to join as an Advisor on the Program Committee

• Dr. Graham reviewed the CEO Accountability Tracker
  • Dr Graham will provide update to Aaron on Friday May 2, 2026 and will post the updates in docs
  • Governance and Compliance are meeting bi-weekly with the Commission
    • Letters of Concerns have been addressed and action plans identified for April 4th letter
      • Will receive updates every cycle
• Board Surveys will be sent out

• Nick Guadiana is the incoming Principle for MS officially July 1
  • Announcement made public during Programming Meeting
  • School team is leaning in heavily with MS
  • Nick is transitioning from HS to MS
• Reinforcing Culture Systems
• Have Nick attend the next PTA meeting

• Active plan of consolidating and moving into the CPH Building will review during Finance Committee

• Johnathan provided more details on the transition of the MS
• Discussed information on Mentoring for Parents/Students

• New line item for Bingham added to the budget to cover yard maintenance, security on the site and insurance
  • $1500 for grass cutting
  • Property Insurance $11,000 per year
• Reviewed 25-26 Draft Budget

Charles reviewed the Financial Report and walked through the details of the financial reports

• Statement of Activities - Cash/Accrual
  • % of budget - over 75% indicates we're over budget
• Bank Register
  • 2 accounts (Reserved Account, Regular Account)
  • Recommendation: have less payables or managing so we can pay right after we receive our DESE deposit
• Expensify = Credit Card Charges
  • Recommended that the Board reviews in detail
  • Credit cards will only be used for preapproved purchases
  • Credit Cards are closed for new purchases as of 5/1 through the remaining of the school year
• Accounts Payable Reports

Recommendations for Cash On Hand at start of the SY

DESE recommendation - Less than 3% balance in operating funds is considered financially distressed

Charter School commission recommends at least 16%, aim for 20%

Commission standard for a school of our age is 60 days cash on hand

• Reviewed Kairos Financial Action Plan Q4 FY25-Q1 FY26
  • Cash Monitoring & Reporting - we have a significant bulk of reimbursements that are both CSP and DESE that would come in during the month of May and June. Outstanding number $785,876
  • Decrease in Office and Business Expense
  • Potential Risks: Enrollment and Attendance
    • If could cause us to consider deep cuts
  • Continue Monitor where our enrollment is with Special Needs
  • You have to be 3x what you regularly spend on students to get Funding for High Needs
  • The FInance Plan should drive 46 days cash on hand

• AP Balance Threshold target for FY25-26
  • The target maximum AP balance at the close of any given month shall be no greater than $300,000 across all funds and vendors
    • Under $300,000 per month, make sure we're close to current as possible
    • Most of our bills will be in 0-30 days, anything beyond 30 days it may be because we're disputing the bill or were double billed and has not been resolved
    • In general, everything should be able to be paid within a month of the bill 

Discussed Policy Updates

• Section 5: Credit Card Procedures - employees who have permission for participation from the principle and have authorization from the CEO
  • added more restrictions to credit card purchases
• Section 2.1 Checks and Electronic Funds Transfer (EFT)
  • Any check or EFT payment under 10,000 drafted on any school designated bank account may be signed/authorized by the Administration Officer, CEO, Board Treasurer or Board President
  • Dual Signer is a recommendation from the audit process

• Floating around Calendar for in person finance committee meeting
• Katie will be stepping down from the board, she has completed her term
• We initially shifted the board meeting to the first week in June.  We need to pull it back and meet the week of May 26th - 29th
• RFP was sent out for a new Auditor

Close session has been tabled for next board meeting

Committee Meeting Minutes Vote has been tabled for next board meeting