A. Torti reviewed trends from September's finances, stating that revenue is down this month due to lower enrollment than expected, and lower than expected donations. Expenditures have increased, due in particular to inflationary pressure in food supplies. The cost of the renovation project has also increased significantly. 

Personnel expenses are on track and under budget so far. 

One City will receive a per pupil payment of approximately $1MM in December. 

T. Jaeckle asked A. Torti to remind the board of the per pupil payment schedule. A. Torti confirmed that payments are scheduled for September, December, April, and June.

S. Martyniak asked how many dollars One City is missing out on if enrollment is 50-60 scholars below enrollment maximums. A. Torti said it equates to $555,000.

K. Caire described the complexities around having lower numbers of enrollment and staffing, specifically: 

• Special Education costs are soaring
• 45% of One City's 9th graders have IEPs
  • Scholars have significant needs that One City was not fully prepared to meet at the beginning of the school year
  • Staff are feeling the pressure of this need

K. Caire shared that One City is also working on plans to collaborate with MMSD to develop in-house teacher training programs and to pursue legislative changes to improve funding to all of our schools.

Summit Credit Union has offered to re-open One City's $300,000 line of credit. One City has used this line of credit in the past at a smaller level. The interest rate is prime (currently 6.25%) plus 1% and lasts 12 months.

G. Wiseman provided a fundraising update. 

The Yass Prize for quarter finalists of $100,000 will be awarded in December 2022. 

The Cremer Foundation is considering a program proposal for $50,000. 

Cuna Mutual has requested an update to the application first submitted in May 2022 and updated and resubmitted, at Cuna's request, in October 2022. Because the amount requested is so large, the board wishes to do additional due diligence and have One City staff present to answer questions at their January 2023 board meeting. 

We are waiting to hear back from several other local foundations in the coming months.

A request for $1MM was submitted to the Caritas Foundation. K. Caire, G. Derzon and G. Wiseman will present the proposal to their board on November 1st.  

K. Caire provided an update on One City's advocacy and policy agenda. One City is making connections with large, national donors. 

K. Caire attended a Tony Evers event and Evers' staff suggested that he reach out after the election to request additional funding for our schools. 

The Wisconsin Independent Charter Association (WICSA) has been established. This is an important move for 32 independent charters schools across the state of WI to speak with one voice. 

It is likely that the Charter School Growth Fund (CSGF) will be interested in supporting WICSA both financially and in sharing expertise around advocacy work. 

Wisconsin Manufacturers of Commerce and other conservative organizations are developing a backpack model where no matter what school children attend they are worth the same amount of per pupil funding. K. Caire and H. Fuller have spoken about developing a similar funding equity model in Milwaukee.

City Forward Collective will help engage parents.

K. Caire requested One City's board members' assistance is spreading the word about the issues facing the education industry and about One City Schools and stated that we will invite some well known names in education to speak at One City's fundraising event in April.