Memphis Merit Academy Charter School
Minutes
Monthly MMA Board Meeting
Date and Time
Thursday April 17, 2025 at 5:30 PM
Location
Memphis Merit Academy
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
Aurelia Mcbride, Dimika Cavalier (remote), Joseph McKinney, Lashawn Lester, Talunja Prophet, Timorie Belk
Directors Absent
Angelia Allen, Reid Lanigan
Guests Present
Angelina Mccoach, Lakenna Booker
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Review and Approval of Monthly Financials
A.
Approval of Monthly Financials
III. Review of FY26 Budget
A.
FY26 Budget Draft Review
Presented by Wendy as part of financial update.
FY26 Budget:
- FY26 projected net income: $26,321
- Positive for FY27 and FY28 as well
- Student increase from 425 to 500
- Student increase is major revenue driver
- State of TN revenue increases to 94%; Reduced foundation grants reflected in Other Local Revenue
- Increased personnel expense in FY26 (with growth of students)
- Cash projected to remain critical through FY26, ending with 31 DCOH
- Does not reflect funding from Bloomberg
- Areas to watch FY26: enrollment is critical, fundraising/MMARE, staffing
IV. Approval of Auditing Firm
A.
HHM Firm
Ms. McCoach updated the Board. Firm seems very organized, can get started as soon as we close out this fiscal year. First year will be more involved, but in the future, they can be more hands off. Will do an in person visit during audit period. Have online portal to track audit status. Have great references from other charter schools. Board will conditionally approve, with the understanding that the Board receive the full contract for review.
V. Approval of School Calendar 2025-2026
A.
MMA School Calendar 2025-2026
For the most part, follows MSCS calendar. School will be welcoming 7th graders in the fall. 175 student in person days. Meets state requirements. Will be shared with MSCS for approval.
VI. Approval of Contracts FY25-26
A.
Technology- Network monitoring
Covers monitoring, google network, security requirements, laptop repairs on site, make sure technology works together, telephones, etc. Staff can contact them directly for support. Already budgeted for, have used this company since the first year.
VII. Consultants
A.
The Learning Lounge -Consultants- Math
Math coaching for teachers, data analysis, etc. Important to funders that we show additional focus and support around improving math outcomes, similar to the focus that's been on reading (with LIT). Reflected in the budget projection for FY25-FY26. Will seek foundation support for coverage. Would like to include the a la carte options as well, but will need funding from external sources.
VIII. Curriculum & Digital Platforms
A.
Schoology - Learning Management System for Middle School
LMS platform. Actual contract total is $10K. Similar platform to Blackboard. Will aid in parent communications. Is reflected in the budget.
B.
McGraw Hill Science Curriculum
Adopting this curriculum, grades 3-7, textbook and digital access, teacher guide and digital access, etc. One year quote to test it out. Is reflected in the budget.
C.
I-Ready Math Curriculum
Curriculum and platform, testing, toolbox, professional development for teachers, students receive their own materials, etc. Currently use this. Is reflected in the budget.
D.
Dean's List
Platform for non-academic student data - allows the school to communicate and document incidents. Is reflected in the budget.
IX. Committee Reports
A.
Academic Achievement Commmittee
Committee met during TCAP testing this week. May need to retest 3rd grade based on scores. New teachers have additional professional development days in July. Reviewed latest scorecard. Next scorecard result will come out in June.
B.
Development Committee
Reminder to pay your Board annual dues - $1,000. Can be from you and/or also from other funding sources on your behalf (fundraising, friends, family). Capital campaign packet is ready for printing. Recent Pinnacle award has brought great attention to the school; possible new donors. Lakenna exploring opportunities with YMCA, etc.
C.
Finance Committee
D.
Governance Committee
- Board training due by June 30. Internal goal of May 15 to have trainings done (next board meeting). Aurelia will be reaching out to individual board members regarding upcoming expiring terms. Board recruitment documents are in BOT.
2. Board Chair briefed the board on the parent altercation with security. The board agreed with the Executive Director's decision to implement a ban on the parent's entry into the school. The parent is allowed to attend the promotion ceremony via live stream.
X. Other Business
A.
Executive Director Update
Loan closing is on track. Working through checklist, three weeks remain.
B.
MMARE Financials
Presented by Lakenna with Kyle on the line for questions. Decrease in MOM due to decrease in CAM income. Delinquent balances update - overall relatively flat. Red Diamond completed their lease, but left CAM unpaid (~$8K). Mostly covered by security deposit (~$6K). 901 Properties did not receive MLGW bill for last month. Roof repair for Village Mart ($1,700). Kyle will request that invoices be shared with MMA monthly.
C.
Property Manager Reports - 901 Properties
N/A
Presented by Wendy Butler with EdTec.
FY25 Forecast Updates:
- Supplies and materials and personnel drive $26.5K net operating income increase
- Leave of absence led to some savings
- Ended March with $1M; projected to end FY25 with $606K, or 36 DCOH