Ethos Classical Charter School
Minutes
Board of Directors Monthly Meeting
Date and Time
Wednesday March 16, 2022 at 6:30 PM
Location
Directors Present
A. Lamborghini (remote), B. Hines (remote), E. Raines (remote), K. Graney (remote), M. Moore (remote), P. Moody (remote)
Directors Absent
J. Virostko, T. Fick, T. Mitchell
Ex Officio Members Present
E. Castillo Leon (remote)
Non Voting Members Present
E. Castillo Leon (remote)
Guests Present
D. Cembrola (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
E. Castillo Leon reported:
- Permits were approved for upcoming construction
- Getting preliminary pricing on capital sources/options for next build phase
- Weekly meetings with architect and contractor on modular deployment
B.
Finance
E. Castillo Leon provided a Fundraising Update:
- Secured a $30k literacy grant; won a book vending machine; board planning a student art exhibit; working to secure a $130k grant for SY23 for special education.
- Total raised to date $73,595.09
D. Cembrola provided the monthly financial report:
- Two biggest changes: received $830k additional in ESSER funding split across two FY; also an adjustment to our interest payments on $6.35m loan we closed on. Those payments will be capitalized in construction period. Overal $428k increase since last forecase.
- These adjustments had a positive impact on cashflow projections for April and May.
- Enrollment, Expense Variance, Uncategorized Rev&Exp, and year end fund balance all in the green; need to continue raising to $120,000 fundraising goal.
- SCSC metrics - on track for 90 points (meets expectations)
- Reported that a draft budget was presented to Finance Committee on 3/15
C.
LEA
E. Castillo Leon reported:
- Received monitoring letter (revised) from SCSC and discussed results with SCSC; discussion resulted in reversing 2 findings.
- With Corrective Action Plan will be on track to receive 88 points, highest score to date
D.
Recruitment
E. Castillo Leon reported on staff recruitment:
- Reduced SY23 staff from 42 to 41
- Budget proposal will request COLA increases and Legacy Stipend for founding staff returning in SY23
- Stats: 74 applications so far, 6 interviews, 2 hires to date
Question from board: experiencing trouble filling roles due to labor shortage? Have seen smaller pools, but overall have recruitment strategies in place so still confident to find great talent.
E. Castillo Leon reported on Scholar Recruitment:
- Strongest application round since founding, 231 applications at this time for 97 seats.
- Goal 416 scholars in SY23
E.
Program
S. Knight Justice reported on STEP Round 3 Performance, and focus of instruction based on results
E. Castillo Leon reported on:
- specialized services and scholar growth,
- scholar discipline
- scholar culture
- and COVID Updates
III. Board Committee Reports
A.
Finance
B. Hines shared focus of the Committee to continue to find ways to improve cash position, and upcoming work on the budget.
B.
Governance
M. Moore reported
- Reminders about upcoming training
- Reminders about board member recruitment for upcoming class
- Proposal for adjustment to board and committee schedules for vote in April
C.
Academic
No report.
D.
Fundraising Committee
A. Lamborghini reported
- Committee is excited to be planning a student art auction event (preview for scholars and families day before; sponsors and attendees that night); tentative August 18 or 25th
IV. Voting Matters
A.
School Calendar
The board reviewed and discussed the calendar with clarifying questions.
There were no requests for comment.