Foundations revenue drives $117K new operating income increase ($350K from foundations)

Expenses include: Interest on credit card ($2K), lease to own computers, MSCS decrease in Title 1 funding ($50K), additional moving expense, adding additional security expense ($73K), additional staffing/support ($119K), etc. 

2024-2025 Monthly Cash Balance: Ended August with $370K; projected to end FY25 with $484K, or 29 DCOH

Key Measures Dashboard:

• Enrollment target 457 - current 427
• ADM 94.9% 
• Fundraising goal - $30K: 8.3% currently
• Expense variance to budget in the green (-3.6%)
• Year end fund balance: 3.2% (goal is 20%)

YAY: Forecast showing positive operating income. School started year meeting ADM target of 434. Additional funding received from key partners. 

Next steps: Continue student recruitment. Spend within budget to preserve cash. Repay line of credit when cash can support. 

Goals & Horizon Issues: Expand fundraising capacity. Plan for future facility construction to ensure sustainability. Complete year-end audit. 

Taylor Whiz - taking in leads and handling phone calls and application. MMA takes over once the person raises their hands. Gearing up for application season, helping to backfill. Weekly and monthly calls with their team. Utilize project management tool Asana. Have been very instrumental in helping with attendance numbers. Also speak multiple languages which is helpful for outreach.

Lease to purchase 30 laptops. 

On recent meeting, discussed academic dashboard - including review of template of the dashboard in BOT and agreed upon what information and metrics would be most helpful to review on a regular basis. This will allow us to make changes quickly and in real time. 

Focus is on the corporate capital campaign mailer in the coming weeks. Will be meeting weekly for the next couple of weeks to keep attention on this effort. Timorie will circulate the google sheet for the Board to continue to help identify companies and will meet with MMA leadership in the coming weeks to ensure alignment/collaboration on the prospective companies/organizations. 

Happy with current financial state of the school, thanks to the recent gifts to the school. Focusing closely on recovering the 7 students who recently left the school. Also, discussion around MMARE relationship and how to streamline the expenses of MMARE and MMA and keep clear lines of distinction. Lakenna will request meeting with 901 Properties for thorough review of financials/for transparency. Also, figuring out how much cash on hand is in the MMARE account and how much we need for reserves, to ultimately find out what cash flow can look like between MMARE and MMA. 

Focus is on recruiting additional board members. Working on a recruitment packet to share for potential board member recruits. Following up with individuals who have previously shown interest. Board is encouraged to send prospects to Aurelia. Waiting to hear back from New Memphis for partnership/support. 

Ms. Patterson, mom of three at MMA, spoke to the group. She's a founding member of this school. Her youngest is in first grade, is reading well and speaking well. MMA is constantly implementing initiatives to improve. Very impressed. Hasn't noticed a difference with Ms. Booker moving to Executive Director and having a new Principal.

Remain committed to MMA's mission. Review of SY24-25 organizational priorities and instructional priorities. 

Accomplishments:

- Partnership with Literacy Mid-South

- Family engagement off to a great start

- Started the school year with 438 scholars - over budget target

- Secured funding to to bridge operational gap

- Attendance at 95.7%

Goals & Opps:

- Backfill enrollment

- Two open positions 

- Submit final SIP to MSCS

- Submit annual report by Oct. 1

Next Steps:

- Complete feasibility plan

- Unified tool for MMARE and MMA draft near completion

- Continue to interview for open positions

- Commit additional worktime for SIP and annual report finalizations

Reviewed enrollment by grade level. Current gap of 8 students. Five students anticipated to start soon. 

Attendance rate up from last year, as is enrollment. 

Review of goals + TCAP data. 

iReady - fall 24-25 school year:

- 43% at risk (2-3 grade levels behind)

- 44% behind one grade level

- 13% on grade level or exceeding

Parent Feedback:

- 89% are extremely satisfied with communication between school and parents

- 84% satisfied/very satisfied with frequency of communication

10% of kindergarteners have suspected disabilities 

Remaining build out: $206 per square foot with storm shelter, $160 without storm shelter. Orange area is $588K without storm shelter. 

Kyle presented MMARE Financials. Rent was received after the month closed. Six months worth of utilities reflected (~$23K). In a deficit largely due to six months worth of utilities and MMA lease payment (~$70K) hitting in Sept. Regarding cash flow back to MMA, ideally would have two months of expenses in the account ($60-$80K).