Blackstone Valley Prep Mayoral Academy
Minutes
BVP Board Meeting
Date and Time
Monday March 27, 2023 at 5:30 PM
Location
BVP High School
65 Macondray St.
Cumberland
Directors Present
D. Garcia, J. Silva, J. Souza, J. Waters, L. Kizekai, M. Rivera
Directors Absent
B. Collins, J. Almond, J. Morton, J. Mutter
Guests Present
B. Dowd, C. Heng, C. Losea, E. Stainer, J. Anderson, J. Giraldo, M. DeMatteo, M. Emet, R. Boswell, V. Morales
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes from 1/30/23
D.
Public Comment
II. Recurring Items
A.
CEO Report
S. Anderson provided some highlights from the CEO report as included in Board Packet
- Strategic planning is still in process with significant progress made, and a draft will be ready to present to the Board in the coming weeks.
- College acceptances have begun to come in for our High School seniors
- A Human Captial partnership with URI is kicking off; BVP will be a placement organization for student teaching
- Upper Elementary School continues to have a staffing challenge. Network resources and staff are being deployed for this year as BVP continues to recruit for both this year and next year
B.
CFO Report
C. Losea provided highlights from the CFO Report as included in the Board Packet:
- BVP continues to be in a strong financial position with financial ratios meeting benchmarks
- ESSER plans are being reviewed as deadlines to spend funds are beginning to approach
- The Finance team has begun the budgeting process for 2024
III. Previous Items
A.
HS Lottery Policy
S. Anderson discussed BVP's position relative to the High School Lottery. As previously discussed, and as included in the Board Packet, the Board must adopt the official lottery policy and decide whether to run it each year. Resolutions included in the Board Packet are to adopt the proposed lottery policy, and to decide to run a lottery this year for the 9th grade class of 2024-25.
B.
Charter Renewal Process and Board Preparation
E. Stainer provided an overview of the charter renewal process for the Board, including Board member participation, and summarized some of the materials submitted to RIDE to date.
IV. New Items
A.
Resolution to increase line of credit with Bank RI
C. Losea provided an overview of the resolution included in the Board Packet to increase BVP's line of credit with BankRI. BVP has not used this line of credit, but an increase is necessary to ensure the credit would cover necessary expenses in case of an emergency.
B.
Banking Update
C. Losea provided an update to the Board about BVP's banking status. C. Losea and J. Silva have met with BankRI. BankRI shared financials and is in a solid position. BankRI is offering a product to spread financial risks each evening among different banks. BVP's auditors have also been recommending such a product to ensure all of BVP's deposits are insured.
C.
Lease for additional parking at ES2
V. Executive Session
A.
Enter Executive Session
B.
Update on HS Expansion alternatives
C.
Exit Executive Session
D.
Report out from Executive Session
No votes were taken
No public comment