Shining Rock Classical Academy
Minutes
Regular Board Meeting
Date and Time
Thursday June 29, 2023 at 3:00 PM
Location
Virtual
Directors Present
A. Wilkins (remote), B. Newsome (remote), F. Lay (remote), N. Malis (remote), S. Brantly (remote)
Directors Absent
None
Ex Officio Members Present
J. Morgan
Non Voting Members Present
J. Morgan
I. Opening Items
A.
Call the Meeting to Order
B.
Pledge of Allegiance
C.
Record Attendance
D.
Mission Statement
E.
Approve Agenda
F.
Approve Minutes From May 24, 2023
II. FY 2023-2024 budget
A.
Review FY 2023-2024
III. SRCA Holdings By-laws
A.
Vote to formalize SRCA Holdings/By-laws
IV. SRCA/SRJA lease update
A.
Vote to approve changes to SRJA lease 2023-2024
End date of lease will change to May 31st (previously June). No other changes.
V. New Business
A.
Phase 2 Update
Update by B. Newsome
-We have financial coverage for 2023-2024
-Beyond 2024, we do not have financial funds to include new construction.
-Expense cuts and an increase in enrollment are not feasible for an increase in funds.
-Construction costs and interest rates are too high at this time.
-Additional bonds were not approved at this time.
-Detailed steps were taken to ensure fiscal responsibility from all consultants and partners involved.
-Questions to consider: What happens if we cannot complete Phase II construction? How will this affect enrollment?
J. Morgan - Board to consider a strategic work day to look at alternative spaces for growth.
VI. Closing Items
A.
Adjourn Meeting
B.
Next Regularly Scheduled Meeting
July 26, 2023, 6:30pm
Joshua Morgan shared budget. Highlights include seeking grants through federal funds, Increase in salaries, New positions, Contracted services including bringing speech therapy services in-house, 7 new teaching positions, Full time school based social worker, EC director in-house for 2023-2024 school year. All previously approved. Seeking grants for new busses. We expect an increase in revenue from the state.