There was no public comment.

Crystal Day presented a detailed slide deck with the strategies and tactics of increasing enrollment.   The goals are to increase applications, yields, and retention.  On a macro or demographic level, we are experiencing an "enrollment cliff" but there are reasons to be hopeful at CNCA.    Four schools have waiting lists as opposed to two last year.  System wide applications were up by 10% this school year and in 2022-23 we are on track to exceed enrollment from 2021-22 and perhaps get back to 2018-19 pre-pandemic levels.    

Areas of concern:  only 67% of 5th graders continued at CAS continued on to Eisner for 6th grade.  Overall enrollment fell over 2% in the first two months of the school year.  

See attached financial projections.  Due to lower than expected enrollment and ADA we are on track to lose $643,631 rather than  to have a profit of $884,615, a swing of $1,528,246.  ExEd is predicting loses at each school site, to varying degrees.  While we have sufficient reserves and cash to weather a loss, we may have trouble with an EBITDA loan covenant at Wells Fargo Bank.   Liquidity remains strong.     

There is pending legislation to hold charter schools harmless for lower than expected enrollment and attendance this school year.  We do not expect any action on the pending bill until May or June.   

We are planning for TK Expansion at all of our sites except Kayne Siart which does not have any open classrooms.   Kayne is exploring adding a TK class in school year 2023-24.  Target enrollment for system wide for TK is 95 and the forecast shows 91.  All sites will break even or better at this level of enrollment.  

In terms of capital expenses please note that the State of California is providing $100,000 grants to schools that add capacity in TK classrooms. 

The taxes were compiled by our auditors, Clifton Larsen and Allen and reviewed by ExEd.  No vote was taken on the taxes as they are in draft status.