CEO Reflection

No individual presentation on agendized or non-agendized items shall be for no more than two(2) minutes and the total time for this purpose shall not exceed fifteen (15) minutes.  Speakers requesting translations will have four (4) minutes to present.  

The Board will hear public comments, and Identify next steps as needed.

Recommended Action: The Finance Committee has reviewed these materials and recommends approval of the Finance Committee packet as part of the Consent Agenda

• Link to check register: https://drive.google.com/file/d/12Z8QNNo-T8MVHxO7ODUze6uFwhZQRXhw/view?usp=sharing 

Pre Reading:

LCPS CORE Collaborative Data and Dashboard Release 2022-23:

https://docs.google.com/presentation/d/1g3JTjLfGEZCwezobxkUIDsaK6BgZEmFaoOYY798tXeM/edit#slide=id.g29ab31f6ad2_0_147

Pre Reading:

CAO Academic Update:

https://docs.google.com/presentation/d/1uE3irM5bUVgo0PkduCJNze3N86tZrQ4e/edit#slide=id.g261c3bac76e_0_50

https://fiaoakland.org/lcps-lfl/

https://drive.google.com/file/d/1HeuGIGm67KJ4PznjPa2lAYdrWKadBQqO/view?usp=drive_link

Pre-Reading:

• Finance Report and Dashboard: Enrollment, Attendance, Finance Waterfall Chart, and Days Cash

https://docs.google.com/presentation/d/1tCpfZ-7Qdu1N0RCmG0QIN2slfzAtZExS/edit#slide=id.g247733f86f4_0_266

This presentation details the aggregate financial picture for our three LEAs as we will approve our First Interim Financial report that we will share with OUSD, our charter authorizers.  

• First Interim Highlights and Budget Revision variables
• Spending and FTE analysis
• First Interim vs. Year to Date comparison

Link to Presentation: 

https://docs.google.com/presentation/d/1nKaaEnV1vD1Q76u5SPa4p5vnpsPQKQ1k/edit#slide=id.g247733f86f4_0_291

Recommendation:  CEO and Finance Committee recommends approval of our three First Interim Reports.  These reports will also be sent to OUSD. 

Links (note - 4 tabs):

• Lighthouse K-8:  https://docs.google.com/spreadsheets/d/1CrYaPur_DM5w0udKanIRRINsY2IocTNT/edit#gid=1713590083
• Lighthouse HS:  https://docs.google.com/spreadsheets/d/1ESbgYWN7sdrgWSktQBjhVwRMOEBHIra9/edit#gid=485034202
• Lodestar K-12:  https://docs.google.com/spreadsheets/d/1q3kQsjvszPAfXPVnFnE5OzY-rWXeT5LP/edit#gid=1421919929

Pre-Read:

Teacher Compensation Strategy for 2024-25 - Preliminary comparison, analysis, and presentation:

https://docs.google.com/presentation/d/1dceO3JU9pl5fQJWpTs-4kRwco2-xHEg2aY7QOwuNkec/edit#slide=id.g2a13856cd41_0_4

Recommendation: CEO recommends that the LCPS Board approve a Material Revision (MR) to increase the enrollment cap of the Lighthouse Community Charter LEA so that LCPS can provide state mandated TK programming to the community and to sustain our special education encroachment.  If approved, LCPS will submit the MR paperwork to the OUSD Office of Charter Schools, and would go to the OUSD Board of Directors for a vote, most likely in February or March.  

Pre-Read:

Material Revision of Lighthouse K-8 LEA to increase enrollment.

https://docs.google.com/presentation/d/1o0L-2en-r370YD6R5mxkid_zHzxMhqxA/edit#slide=id.g2a003fc86af_0_21

Recommendation:  The CEO and the Finance Committee recommend approval of an agreement between LCPS and CFOMW Tax, LLC to process our ERC claim (Employee Retention Credit) with the IRS.  The ERC is a pandemic-related tax credit.  LCPS would qualify for ~$2.7M in credits.

https://docs.google.com/document/d/1RF0joZkoV7LaKtnGcXlw2FDA6jDSGHDEFJnBTEFqJt8/edit

CEO and finance committee discussed moving $4 from Wells Fargo to JP Morgan Chase and leaving $1 million in Wells Fargo. 

Recommendation:  CEO and COO recommends approval to move our Retirement Advisor Servies from the Advisory Group SF to Morgan Stanley.  

Context:  Our Retirement is in a 338 fund - the yearly cost to maintain it with the Advisory Group is 40k per year.  We would like to stay with our financial advisor who has transitioned to Morgan Stanley from the Advisory Group SF. 

Our actual retirement investment account with Alliant and Charles Schwab will not change at all, just the person/group that will be responsible for advisement. Morgan Stanley has offered us the same fee structure so there would be no change to our costs. There is no penalty to cancel our contract with AG, but we need to do so with 30 days notice.
 

https://drive.google.com/file/d/11Cp8deSCzeO0JYdItgB295HYWfminMdO/view?usp=sharing

Recommendation:  The CEO and COO recommend that the LCPS Board approve the agreement between LPCS and Farralon Consulting.  Farralon specializes in environmental consulting services, and these two agreements that are required for our construction project for the athletic turf field are above the CEO threshold.  

Links:

• Amended Contract:  https://drive.google.com/file/d/1tvY34mDT2LSiWL4Ut82YXtI-wqE1WYxE/view?usp=drive_link
• Existing Contract: https://drive.google.com/file/d/1o8wEUKoCfLvOD5vp6ej74i9XSF_aZ_1I/view?usp=sharing
• Work Order for $40,413 https://drive.google.com/file/d/1mDeIzTi4IPlPqKDeCNzrKzUvqBNig4l2/view?usp=sharing
• Work Order for $13,644 https://drive.google.com/file/d/1DfAdVWZgiAny3F5sIQ9vSD02z5llJa2H/view?usp=sharing

LCPS Board agreement to begin work with Edgility Consulting:  CEO Compensation and Performance Evaluation Process

https://drive.google.com/file/d/1AZEYk2pX1w0ozK8Rqq3i9B0hOFANEgOF/view?usp=drive_link

Draft Resolution: https://drive.google.com/file/d/1bhw-ANMnhNHjlJ32g97_GajYCE7SAYzj/view?usp=drive_link 

Note:  We may have a draft of our Audit prepared by Tuesday, December 5th.