Ethos Classical Charter School
Minutes
Board of Directors Monthly Meeting
Date and Time
Wednesday February 16, 2022 at 6:30 PM
Location
Directors Present
A. Lamborghini (remote), B. Hines (remote), J. Virostko (remote), K. Graney (remote), M. Moore (remote), P. Moody (remote), T. Fick (remote), T. Mitchell (remote)
Directors Absent
E. Raines
Directors who arrived after the meeting opened
J. Virostko
Guests Present
D. Cembrola (remote), D. Mack (remote), S. Knight-Justice (remote)
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
C.
Public Comment
D.
Approve Minutes
II. Management Report
A.
Facilities Update
- D. Cembrola reported we closed on our loan and now own our facility and land.
B.
Finance
D. Cembrola reported to the Board for the monthly financials as of January 31st:
- Projected a $29k increase to projected operating income vs budget, but anticipate that will change positively when our QBE correction is approved by state.
- Reviewed the monthly cash balance, which is currently well over our metric of above 2 months payroll, but could dip below that metric in the final quarter if you exclude our reserve, however we can access reserve if we deem a need. Need may be unlikely, as ESSER provided an additional $832k fund release which will be incorporated into next months report.
- Reviewed a new schedule to show the multi-year facilities forecast
D. Cembrola reports that loan closed on January 24 and Ethos has acquired the facility. He reports on current forecast and that QBE error should be rectified next month, which will correct negative variance. He reports that Ethos will receive additional pandemic funding.
C.
LEA
D.
Recruitment
Principal reports on faculty recruiting; candidates are being interviewed and offers are being made to lead teachers. Dean of Operations reports on scholar recruitment; recruitment applications are high without intensive recruitment efforts. There are currently over 160 applications for SY 2022-23. Current attendance rates are in the mid-90s.
E.
Program
Principal reports on scholar assessment data. Current STEP testing shows between 39% and 83% of one year growth. MAP data continues to grow, and focus will be put on curriculum that will be on the test. Principal reports on early intervention progress and COVID cases.
III. Board Committee Reports
A.
Finance
Treasurer reports on FY2022-23 budget timeline and potential need for line of credit.
B.
Governance
Secretary reports on governance training, and Board Chair reports on board recruitment.
C.
Academic
Chair of Academic committee reports on next meeting.
D.
Fundraising Committee
Chair of Fundraising Committee reports on progress; looking for an end-of-year event and institutional donors.
IV. Voting Matters
A.
Meeting Format: Board of Directors & Committee
Board discusses ending emergency status for remote meetings