Wendy with EdTec took the Board through the school's financials. Very minimal variance from Sept to Oct. Slight fluctuation throughout the year expected for substitute teachers. $300K received from CSGF and Community Foundation, plus $150K LIT reimbursement. Recruiting remains important, as well as fundraising. Audit is in process (deadline end of December). Does not include cash flow from MMARE.

Board received the '22-'22 HOS evaluation. 

This is a requirement of the state, despite not having a bus system. Buses are used for field trips. Designated Transportation Supervisor went through formal training, trains staff, logs compliance measures with the state, etc.

Former contract was not authorized by HOS, which voided former contract. New contract reflects more accurate needs and pricing. Went from $2,100/month to $1,000/month and now includes all janitorial supplies as well. Total for the year will be ~$13K. MMA leadership is doing a review of all operational contracts. 

Met on 10/15. Enrollment is at 425. 236 on the waiting list, but not ideal to bring in new students in the middle of a semester. Annual report has been shared with the Board and added to BoardonTrack.

Grant writer helping MMA with facilities grant ($500K grant - due 10/30). Will be awarded by 11/15. Will be meeting as a committee next week to finalize who Mr. Alvarez will be soliciting in person and who will be receiving a mailed capital campaign packet. Overall goal is $1.2 million to pay off everything for MMA and MMARE.

Still trending in a good position. Margins remain tight. AFTON working on financial strategic plan, though we've hit our max of what CSGF has paid for on our behalf. Will explore opening a high-yield account for the MMARE cash.

Continue focusing on recruitment. Awaiting resume from potential new board member. Board recruitment marketing materials completed and saved in BoardonTrack. Training is due in mid-November for board members (4 hours required). 

Accomplishments: Secured funding for LIT. Scorecard, Annual Report and SIP submitted on time. Auditing underway. School fundraiser kick-off (chocolate sales). Rehired FS staff member. Family participation is very strong - lots of school events and functions. 

Goals/Opps: determine debt covenant needs for loan, launch TEAM eval cycle, backfill by 5 seats

Next steps: need instructional coach, unified tool for MMA and MMARE

98% enrolled. Attendance 96%. School counselor having truancy meetings. 

Results of scorecard will be provided on 11/15. Next cycle Jan 6-Feb 14, 2025.

Every week teachers are met with before they submit lesson plans and practice their plans with MMA administration. LIT will be on site next week. 

See below

Presented by Kyle McGowan-Moore. Income was significantly higher as the payment from the school and other payments arrived in Sept. Schedule is in place for tenants' payments. Multiple tenants have delinquent payments/expenses. One tenant is 6+ months behind; now on a catch-up plan where $1K will be added to each month's payment for the next five months. Board will receive monthly delinquent report going forward and will work more closely with 901 Properties on what is an acceptable amount of time for tenants to be behind on rent/expenses. Late fees are included in what tenants owe. 

901 Properties to share current policies about late payments, CAM, etc. 

Currently have $111,000 in the MMARE account. $24K in late rent/expenses. Will explore putting this money into an interest-bearing account. 

901 Properties responsible for finding new tenants. All spaces are advertised across the usual channels. Two spaces are (close to) move-in ready - one small and one large. In January, all tenants will receive CAM reconciliation document. Will have 60-90 days to pay off the CAM. 

Board requests to be a part of the determination as leases are up for renewal.