Memphis Merit Academy Charter School
Minutes
MMA April Board of Directors Meeting
Date and Time
Thursday April 18, 2024 at 5:30 PM
Location
Memphis Merit Academy (4775 American Way, Memphis, TN 38118)
PUBLIC COMMENT AT MEMPHIS MERIT ACADEMY BOARD MEETINGS - An opportunity for the public to address the Board will be provided at the conclusion of the agenda. Members of the public who wish to speak on
any item are requested to identify themselves and indicate on which agenda item they wish to speak. The Board will provide an opportunity for the public to speak for a maximum of three (3) minutes, unless granted
additional time at the discretion of the Board. Testimony shall be limited in content to matters pertaining to Memphis Merit Academy. The Board may not take any action on matters discussed during the public testimony
period that are not listed on the agenda.
Directors Present
Angelia Allen, Aurelia Mcbride, Joseph McKinney (remote), Lashawn Lester, Timorie Belk, Tressa Johnson
Directors Absent
Dimika Cavalier, Melisa Moore, Talunja Prophet
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approval of Agenda
| Roll Call | |
|---|---|
| Joseph McKinney |
Absent
|
| Aurelia Mcbride |
Aye
|
| Timorie Belk |
Aye
|
| Angelia Allen |
Aye
|
| Talunja Prophet |
Absent
|
| Melisa Moore |
Absent
|
| Dimika Cavalier |
Absent
|
| Tressa Johnson |
Aye
|
| Lashawn Lester |
Aye
|
D.
Approve Minutes
II. Monthly Financials
A.
Monthly Financials - Edtec
III. Committee Reports
A.
Development Committee Report
Capital campaign is under way! $450 raised to date. Please send your emails, or if I can help you, please add your contacts to the excel sheet and I'm happy to do outreach. Reminder to the Board to please consider making a personal donation if you're able.
Schedule meeting time with Lakenna for sendign emails working session.
Invite Kroger. Ms. Harris.
Outstanding items:
- Confirm who will reach out to past board members via email
- Discuss thank you note plan for those that donate
- Confirm corporate opportunities - working session needed w/ Lakenna
- Discuss Juneteenth event on June 19th (Board is being asked to come; agenda TBD; seeking speaker/keynote)
Development Committee meeting to be scheduled to discuss the Juneteenth event. archimania wants Commercial Appeal feature.
B.
Governance Committee Report
Need board members. Each board member needs to supply two potential candidates. Particularly seeking Finance, real estate/brokers, fundraising, construction, engaged/energetic. Also strategic planning and organizational planning.
Need to come up with officers for next year. Let Tressa know if you want to serve in a leadership capacity.
Bylaws in progress and will be shared with the Board via email. Will be reviewed during May meeting, voted on in June. Next meeting May 14th.
C.
Finance Committee Report
Met this week re: fiscal policy revisions, HOS contract and reviewed budget. Revised policy will be brought before the board by the next meeting.
Recommending move from 3 year contract to 1 year, so the board can evaluate performance, as well as compensation, more regularly.
Next meeting May 14th.
D.
Academic Achievement Committee
Head of school memo updated and uploaded to BOT. Lashawn will connect with BOT for guidance on the process.
Next meeting scheduled for May 9th from 12-1 PM.
IV. Other Business
A.
CEO/HOS Update
Interim site report is back and is favorable. Received certificate of occupancy today for new facility! Book keeper started for MMARE. Attendance 97%!
Summer Boost grant will help pay for summer expenses. Going to submit grant to Hyde Foundation by May 1 to help with operational deficit. Focusing on leadership hire. Offers to teacher out by May 15.
Contract for move is hourly. Quoted based on hours anticipated. Will try to find efficiencies with that process.
Ribbon cutting on June 19th.
Mr. Alvarez and Taylor Whiz marketing still laser focused on enrollment.
Attendance remains a focus. Suspension rate remains below late year.
B.
MMARE Business
Will continue this next month, with an official update from the new Book Keeper.
Reviewed March financial update. Still working on budget draft for next fiscal year; should be ready in next couple of weeks.
$228K less than budgeted for. Partially due to enrollment shortage, also revenue not hitting in the year we anticipated.
Summer grant and prior year BEP true up drive $39K net op inc increase. Contracted services include fundraising expense, after school activities, etc.
Cash projection: Ended Mar with $659K; projecting to end FY24 with $115K, 7 Days Cash on Hand (DCOH).
Received Summer Boost grant. Completion is nearing completion! Limit spending over the next few months. Plan for effectively and inexpensively manage summer school and the move to new facility. Working toward FY25 enrollment goal.