The Board noted one typo in the July Board minutes under the Monthly Recognitions. The section should say that "Bill thanks Sherriff for organizing..."

There was no one present at this meeting for public comment.

Bill shared a video with the Board of students and families from Open House.

Meghan informed the Board that SPCS is currently 98% enrolled. The Operations team has calls out to additional families and 2 new students are confirmed to enroll in the school this week.

The school's attrition rate is currently at 3.3%.

Bill noted that SPCS is currently 98% hired, with one outstanding position for a para and an additional role for a member of the school's Operations team.

Bill also noted that SPCS has received MCAS data, but has not yet received other schools’ data for comparison. The school is very excited about the initial results.

The Board discussed a letter the school received from the developer who had worked on the Longhill site project.  The letter requested payment for his work.
 
The Board agreed to seek out a legal opinion to inform the Board before responding.  In the meantime, Bill will tell the developer that the Board is doing its due diligence and will be responding next month.

Bill will seek out a legal opinion and will present it to the Governance Committee before bringing it to the Board next month.

The Board discussed what SPCS is doing to be ready to act on a site for a new school. Bill introduced the financing package the school drafted to share with the lending community. The Board discussed how this project compares to earlier proposed projects. The Board also discussed the various options for lenders, including nonprofit lenders like Civic Builders and local banks.

Meghan reviewed the highlights of the July financials with the Board.

• The school needed to do more work than anticipated to get the building ready for students, and had to use some of the school's contingency fund to do this.
• The school switched from contracted janitorial staff to regular employees, so there will be a shift in expenses there.
• The Board raised a question about tuition reimbursements. Meghan stated that the earliest the school could expect to see the adjusted reimbursement from last year would be September. However, that issue is not impacting the school's current revenue.  

Meghan reported that the most recent audit was clean and that the auditors had positive comments about the school's financial structures and financial health.

The Board discussed their meeting availability, stating that they are unable to do October 18th in the evening but can try to do a call on October 24th, or can use a brief part of the September Board meeting.

Bill and Sally discussed their meeting with Sylvia de Haas Philips, who leads the nonprofit governance program at Bay Path University.   Sylvia is available to facilitate a board retreat, and plans to come to the next Governance Committee meeting to learn more about what the board hopes to gain from a retreat.