Alma del Mar
Board Meeting
Published on June 19, 2020 at 12:51 PM EDT
Date and Time
Friday April 24, 2020 at 9:30 AM EDT
Location
Agenda
| I. | Opening Items | |
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Opening Items
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| A. | Good and New! | |
| B. | Record Attendance and Guests | |
| C. | Call the Meeting to Order | |
| D. | Approve Minutes | |
| Approve minutes for Special Board Meeting on April 10, 2020 | ||
| E. | March Minutes | |
| II. | Executive Director | |
| A. | Executive Director's Report | |
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Scholar, Family and Staff Wellness
Remote Learning Overview
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| III. | Frederick Douglass Facility Working Group | |
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Alma del Mar Foundation
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| A. | Construction Project Update | |
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Current updated information regarding the construction of the new Frederick Douglass Campus, including budget and timeline
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| IV. | Development and Impact Campaign | |
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Development
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| A. | Impact Campaign Dashboard | |
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Progress toward goals in Impact Campaign (combined annual, facilities and special project) fundraising
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| V. | Finance | |
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Finance
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| A. | Finance Report | |
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The forecast in the March YTD financials are based on a 7 week closure period and assumed a re-opening of School in May.
Highlights: Balance Sheet-
$40k Chromebook purchase for remote learning.
Revenue-
March tuition rates resulted in a $20k shortfall from the December rates. Overall, tuition is still projected $155k higher than originally budgeted.
Private Fundraising includes $72k of COVID19 emergency funding from Foundations.
Expenses-
No material changes to forecast, increased depreciation expense for Chromebook purchase.
COVID19 Re-Forecast
Assumes School is closed for the remainder of the school year.
Changes are highlighted in red.
Confirming grant guidelines with DESE regarding Carryover funds thresholds.
Nutrition Revenue and Expense will be adjusted at end of April after invoices and reimbursements are analyzed, most likely resulting in a breakeven scenario.
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| B. | SY21 Budget Status | |
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Given uncertainty around state budgeting, we will be reviewing an updated budget next month that takes into account the risk of reductions in projected per pupil tuition.
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| VI. | Governance | |
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Governance
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| A. | Board Self Evaluation Preview | |
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Information regarding our upcoming Board self evaluation survey to be completed in May
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| VII. | Other Business | |
| VIII. | Closing Items | |
| A. | Adjourn Meeting | |