The Exploris School
Minutes
Board Meeting
Date and Time
Tuesday October 24, 2017 at 4:30 PM
Location
Middle School
Directors Present
B. Kingery (remote), C. Gray, C. Hutchens, C. Jones (remote), J. Frawley, J. Gerdts, K. Byars-Nichols, K. Furr, K. Von Weihe, M. Mitchell-Neal, S. Burroughs (remote), T. Miller
Directors Absent
None
Directors who arrived after the meeting opened
J. Gerdts
Directors who left before the meeting adjourned
B. Kingery
Guests Present
R. Wingo
I. Opening Items
A.
Record Attendance and Guests
B.
Call the Meeting to Order
T. Miller called a meeting of the board of directors of The Exploris School to order on Tuesday Oct 24, 2017 at 4:35 PM.
C.
Approve Minutes 9/26
K. Furr made a motion to approve minutes from the Board Meeting on 09-26-17 Board Meeting on 09-26-17.
C. Gray seconded the motion.
The board VOTED unanimously to approve the motion.
D.
Approve Special Meeting Minutes 10/16
K. Byars-Nichols made a motion to approve minutes from the Special Meeting on 10-16-17 Special Meeting on 10-16-17.
J. Frawley seconded the motion.
The board VOTED unanimously to approve the motion.
E.
Public Comment
None
F.
Charter Success Quartetly and 5 year Finance Review
Corey explained what Charter Success does for Exploris: provides basic accounting financial planning supporting for the school through monthly meetings with Christine and Ellie. Corey explained attached documents showing budget and EOY projections. Corey went over several details about how the budget report formatting will be revised moving forward to make the reality clearer.
Corey reported that the budget and all financials look healthy and well-managed. Corey noted that the only significant difference between Exploris and comparable school budgets, was in salary. (Exploris spends from 5-16.5% more on salary than 5 other comps).
Corey also noted that for schools he advises that are trying to build a facility, he recommends a 5% surplus. He also suggests a 50-90 day cash reserve (or fund balance), which Christine notes we do have. He finally recommended a cap of 20% of total budget to spent on facilities costs (ours is at 19%).
Corey reported that the budget and all financials look healthy and well-managed. Corey noted that the only significant difference between Exploris and comparable school budgets, was in salary. (Exploris spends from 5-16.5% more on salary than 5 other comps).
Corey also noted that for schools he advises that are trying to build a facility, he recommends a 5% surplus. He also suggests a 50-90 day cash reserve (or fund balance), which Christine notes we do have. He finally recommended a cap of 20% of total budget to spent on facilities costs (ours is at 19%).
J. Gerdts arrived.
II. Facility
A.
Receive an Update on the Facility Negotiations and Planning
Tom moved to go into closed session pursuant to Open Meetings law to discuss the confidential details of the proposed lease agreement.
The motion was seconded and we voted unanimously to move into closed session.
B. Kingery left.
The group also briefly discussed personnel issues in closed session.
Tom moved to come out of closed session. Keely seconded. Unanimously approved.
III. Education Excellence
A.
Review of Weighted Lottery Policy
Keely agreed to defer weighted lottery policy discussion to Nov.
Carrie moved to revise current lottery policy as determined by administrative team. Tom seconded. Unanimously approved.
Carrie moved to revise current lottery policy as determined by administrative team. Tom seconded. Unanimously approved.
B.
Update on EEC and Diversity Subcommittee Plans
Moved to next week.
IV. ED Report
A.
Personnel
K. Furr made a motion to approve both positions.
K. Byars-Nichols seconded the motion.
The board VOTED unanimously to approve the motion.
B.
Organization Update (Academics, Operations and Finances)
Tom asked us to review update attached to discuss in November.
V. Development
A.
Provide a short update on Development Committee progress
Christine updated us on the progress of the Foundation membership and described the relationship it has with the board.
VI. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 6:46 PM.
Respectfully Submitted,
T. Miller