Final

E.L. Haynes Public Charter School

Committee meeting

Date and Time

Wednesday November 8, 2023 at 12:00 PM EST

Location

Virtual

Agenda

      Purpose Presenter Time
I. Opening Items 12:00 PM
 
Opening Items
 
  A. Record Attendance and Guests   Norman Greene 2 m
  B. Call the Meeting to Order   Norman Greene 2 m
  C. Welcomes and Quick Updates   Hilary Darilek 5 m
II. Audit, Finance, and Facilities 12:09 PM
 
Audit, Finance, and Facilities
  
  A. Review AF&F Goals Discuss Norman Greene 10 m
   
  • Support Investments in Our Students - support investments in academic and wellness strategy including strategic investments using federal funds (ESSERs)
  • Support Investments in Our Staff - support the school’s effort to develop our total compensation philosophy and outline our new teacher and staff compensation model to be implemented over multiple years.
  • Support Long-Term Facilities Planning - determine the feasibility of a transformative facility project that consolidates and improves our physical spaces in service of our academic vision.
  • Ensure Timely Budgets, Audits, and Tax Filings - review and approve annual budgets, financial audits, and tax filings to ensure that the organization is compliant with all necessary fiscal requirements.
  • Review Multi-year Budgets and Ensure Sustainability - review multi-year budgets and provide recommendations to ensure the long-term financial sustainability of the organization while investing in our students, facilities, and staff.
  
  B. Adopted SY2023-24 AF&F Meeting Calendar FYI Justin Rydstrom 5 m
   

Following Wednesdays from 12:30-2PM:

  • August 30, 2023
  • November 1 (moved to November 8)
  • December 6
  • January 31, 2024
  • March 27
  • May 1
  
  C. FY24 Fiscal Updates & KPIs FYI Justin Rydstrom 5 m
   

We are projecting a stronger than budgeted financial picture as we close out Q1.
We currently expect to end the year with 134 days of cash (6 more than
budgeted).
We will receive $1.1m more in per-pupil revenue due to our enrollment (12
GenEd, 19 SpEd, 34 MLL students) and Pandemic Supplemental funding.
The $2m in OSSE charter teacher pay funding is partially offset by additional staff
expenses largely in the form of one-time stipend payments.
Our net income has increased $472k as a result of these two factors.

  
  D. Revisit FY24 Financial Policies and Procedures Manual FYI Justin Rydstrom 5 m
   

Final version ready for review and approval

  
  E. Update on Long Term Facilities Planning & Financing FYI Michael Hall 5 m
  F. FY24 Budget Decisions & Additional Considerations Discuss Hilary Darilek 15 m
   
  • Submitted plan to OSSE (pending approval for total $2.3 million)
    • 7.6% retro payment for returning teachers (or $5000, whichever is higher); $5000 payment for all other returning staff; $1000 payment for all new staff
    • Support costs associated with FY24 compensation model investments (i.e. educational aide salary scale and non-instructional staff comp)
    • Additional resources for staff awards and spring payments
  • Now forecasting $4.2MM in ERTC for FY24; initial thinking includes: 
    • FY24 debt-reduction to offset one-time, unexpected revenue
    • Assist with viability of CapEx campus consolidation; 
    • Will bring recommendation to next AF&F meeting  
  
III. Closing Items 12:54 PM
  A. Open Discussion Discuss Norman Greene 10 m
  B. Next Meeting Date Discuss Justin Rydstrom 2 m
   

November 1 at 12:30PM

  
  C. Adjourn Meeting Vote Norman Greene 5 m