L. Holcomb has announced that she will be leaving her position as Executive Director of State Charter School Commission, effective March 2023. A new search will be underway for her replacement in the coming months. 

M. Neely presented the financial report and outlook in lieu of J.Louis

GEER II - We have received reimbursements and advance payments for GEER II totaling $1,464,908. Our GEER II expenditures have exceeded $360,000 to date. We anticipate awarding $1.7 million in start-up grants today. We are disbursing $10,000 per month for three new school leader stipends. We also have two active contracts for technical assistance and services, as well as the purchase of promo products for FindaGaCharter.org and a contract for ongoing maintenance of the website. With the award of start-up grants, almost all funds will be committed.

CSP - The SCSF has been awarded $38,295,000 by the U.S. Dept. of Education for the Charter Schools Program State Entity program to continue and expand the Charter Growth Initiative. We submitted a revised budget in early December and are awaiting approval. We have opened a new bank account and submitted all required paperwork to the federal government to establish this account for purposes of payment. We have been given authority to start requesting funds as we await final budget approval.

Operational support - We have entered into a contract with the SCSC for operational support and received our first payment. We recently received a payment for the last two quarters for $5,500. 

Grants & fundraising - We received two grants to support the book vending machine program - one for $10,000 from the Next Generation Foundation and one for $5,000 from the Georgia Power Foundation. We raised over $1,100 in unrestricted funds and gave 322 dozen donuts to schools through the Donuts for Teachers fundraiser. We are seeking sponsors for the Art of Connection Exhibition of Student Art and the Shining Star Teacher program.

Other notes - The Foundation is preparing to begin the single audit process. We are reviewing financial policies and procedures and preparing for our first single audit at the end of the fiscal year. We are also acquiring an upgraded license for QuickBooks. In the process of establishing the new bank account, we discovered an issue with the signers and administrators for the SCSF's bank accounts, which has been resolved. We are working on collateralization of our federal fund accounts.

Board individual contributions - Targeted contribution is $800. Board members can give online. Michele will provide follow up communication. 

M. Neely provided an update on the Georgia Strategic Charter School Growth Initiative (Charter Growth Initiative). 

• FindaGaCharter.org launch and promotional products - the website is generally up and running. Board members encouraged tp review. A new web developer was engaged for the
• Replication and Expansion Cohort Program - phase I completed, all six schools/networks have strategic plans for growth
• New School Leader Fellowship Program - program moving into more one-on-one support in preparation for school openings in the Fall
• Communications Campaign & Roadshow - presentation being completed and contacts established

M.Neely presented recommendations for awards for start-up grants for schools planning to open, replicate, or expand Fall 2022 or 2023. 

11 School applied for the grants. There is a total of $1.7MM with the goal of $300K target grant amount. The intent is to award each school 

• Plan for staffing and organization structure - the Fellow position will be dissolved so as to create a FT position to provide additional operational support. Annie Chen will officially convert to a FT position
• Direct support to schools - emergency grant awarded to Ivy Preparatory Academy, training, webinars
• Book vending machine - will award 2 more machines this spring
• Art of Connection - Exhibition of Student Art to accept entries in February
• Wellness space

The SCSF is entering into strategic planning with the goal of a new, multi-year plan adopted by July 1, 2023. The Executive Committee will give an update on this process.

Mike Mizzoni from Board On Track provided an introduction to becoming an effective board member. This session provides the context for virtual board member training that is available and the strategic planning process.