Janine walked the Board through the FY 20 budget presented in the board packet. She notes that the State is adding back a second student count date, which will result in more grant money.

Currently marketing the alternative to expulsion school program (pathways), they are now conducting enrollment. Teaching the school systems how to use Hope Academy for this process.

We are starting the school year with 21 students at this time.

The Fairbanks indirect expenses is included in the budget numbers. Not planning any capital expenditures.

The CSP Grant is built in to the budget, we will hear in September if we get these funds. If we don't get the charter then we don't get the grant. It will be January before we can start drawing on that money.

The school was awarded a $40,000 grant to purchase a new van. They are looking at using this van for field trips, and possibly bus students from the Northside rather a bus route.
While we are acknowledging that the staff are paying more in their health insurance premiums and there is no increase in their salaries. We want the staff to note that we acknowledge the fine work that they do.

Janine shared the Hope Year End Items that disclosed the handling of the year-end transactions of direct and indirect allocations from Fairbanks. Her proposal was that Hope Academy take forward the direct allocations of $450,000 and then pay back Fairbanks in August when they get the funds from the State.

The proposed column of carrying forward the direct allocations to the Fairbanks Board meeting of June 25th. They will transfer the indirect allocation and rent expense. Carry it forward to August when Hope gets their funding. They will do the same thing in 2020, so when Hope gets their payment in August 2021 they will pay back Fairbanks for the 2020 allocations from Fairbanks.

There will be no changes from this year to next year.

The report to the secretary of hope academy was approved.

Phyllis Usher made the motion.
Marissa seconded.

Linda will remain as the principal for Hope 2.0. (Put this in the Principal's section)

A letter was sent to all Hope Academy donors letting them know that there is a transition occurring from Hope 1.0 to Hope 2.0.

Partnership Development - A lot of conversations have been held with U of Indy, they were here to tour. They are struggling to find space based on our timeline, but we are working with them to move forward with a partnership discussion while they worked on a space.

They are working on a partnership with Simon Youth Foundation and they will send a letter of intent. Rachelle will work with them for submission by August 1st and submitted at their September Board member.

Conversations have been held with Butler University President and we are developing a relationship/partnership with Butler. This is being considered for a possible space on the Butler campus.

We will be submitting for a three year grant with IU Health to help with the move and operating funds for the first 3 years. This would help cover some of the capital costs.

Charter application - had the first reading of the drafted charter. Have some data that needs updated, our goal is to have a draft of the prospectus done by July 1 and given to Patrick by the August deadline . In the partner section we're listing all of the potential partners and listing partners that have moved to a higher interest level.

Rachelle went through the transition plan.

Shout out to Marissa and Collen with Rachelle for helping pull the interested parties together.  Bill Neal is a retired partner, Marissa and Rusty met with him for lunch. Marissa asked him about going to the Governor and seeking his approval. Bill is a long time support of Fairbanks and was on the board.

Leah asked that we not lose sight of our relationship with Ivy Tech. They have a lot to offer with STEM focus. Their education director wants to come out in August and check out our program.








 

The mayor's office wants us to talk more about student demographics. (*check the attachment page in Board on Track) The free lunches came up in conversation. It seems like some of that should be Medicaid services that we could get reimbursement, so something to think about. Schools can enroll as a Medicaid provider. It's possible that the guidance counselor could bill for the work that she's doing and bring in some type of revenue. It was asked that the Education Committee put this on their radar to investigate.

Linda reported that the transition is going well. Rachelle and others are going to the ARS conference in Boston.

 

Janine reviewed the Income Statement for May. There are costs for the APG program that were

Our net loss is higher by about $70,000 for year to date in May. Better than last year though.

Marissa discussed the marketing budget that was approved. It included some up front support and what CVR will continue to do to get us out front of editorial boards. We're not talking about any new materials. Bare bones, but as we move in to 2.0 there will be some that we will likely need to do, i.e., logo.

Looking for ideas for February's taste of hope. Rise and Shine breakfast has a committee that is working on this corporate breakfast.  There is a separate event being developed with STRADA where we will be inviting a select set of individuals  where we could tell Hope's story and a call to action. July 25th is the date of the event. Bill Neal has said he would lend his name to inviting folks to the event.

Leigh Ann shared that fund raising is going strong. They are receiving acknowledgement for funds for next year.

During the governance comm. meeting they discussed what they wanted the board and committee structure to look like for Hope 2.0. The idea is to keep the same number of directors (15) and we talked about the interdisciplinary committee.

On our to do list is to get a deeper dive in to student demographics to help determine what we want the board to look like.