Lisa Lang from Wegner CPAs reported on the final audit conducted for One City Schools.

Some highlights from her report include:

• There were no material findings for the regular audit.
• For the first time, Wegner CPAs conducted a single audit focused on the child nutrition program because OCS exceeded $750K in federal funding last year.
  • Lisa Lang explained that it is normal for there to be findings for organizations conducting single audits for the first time. L. Lang reviewed the material and significant deficiencies found in the single audit.
  • L. Lang stated that the organization may not have to conduct a single audit in the future. 
  • OCS had a significant decrease in journal entries this year compared to the previous year.
• Wegner CPAs will complete One City's 990's per our contract with them. This will be the last service performed by Wegner, as they will not work with schools moving forward. 

Numbers4Nonprofits reported that transition to in-house payroll company is going very well and will make budgeting for the future easier.

T. Jaeckle reviewed the cash forecast document that the One City accounting team at Numbers4Nonprofits created at the request of the Board.

T. Jaeckle reported that One City has an available line of credit of $300K, should we need to use it any time in the future. 

V. Ramakrishnan, co-founder of One City Schools, and co-founder of Project Read, gave a presentation on the new initiative and the future use of AI in education. 

Mr. Ramakrishnan discussed the importance of children reading at grade level and shared statistics regarding the fact that Black and brown students are half as likely as white students to get caught up if they aren't reading at grade level by 3rd grade. 

Mr. Ramakrishnan stated that problems this new AI initiative can address include lack of funds for decodable readers, lack of teacher training in teaching the science of reading, and lack of time for teachers to listen to students reading and diagnose errors. 

Project Read piloted the program at One City in summer 2023.  

See the agenda packet for reports from each department. Please reach out to Gail at gwiseman@onecityschools.org with any questions.

Å review of new language around One City's bulling and harassment policies will be postponed until the March 2024 Board meeting.

G. Wiseman shared that this issue is covered in the organization's conflict of interest policy and that moving forward the Board will vote to approve future situations on a case-by-case basis.

T. Pedracine-Stewart highlighted the success of the recent and first annual Winter Wonderball and extended a thank you to all of the families and staff who helped to make it a great event.