Successes and Celebrations

• Nandi Edouard reported that approximately 66% of student qualify for free & reduced lunch, which will allow the school to cover meal costs and free up funding within the operating budget

Issues & Challenges

• The school experienced a CPI reporting failure related to gifted instruction. At the time of reporting, the gifted teacher did not have the required clearance certificate, which may result in a potential $85,000 funding loss
• Property & Facilities Updates:
  • Facilities
    • AIP lease renewal conversations will begin in January 2026
    • FRC presented a new property, but it will not be ready until SY2027
  • Landscaping
    • The Board discussed concerns regarding landscaping services. AIP has requested that the school contribute to landscaping costs, and the Board agreed that any cost-sharing must reflect clear value, defined services, and alignment with the existing contract scope. The Executive Director will prepare a detailed list of expected services, and a small group of board members will work with AIP to clarify responsibilities, review the contract, and bring back a recommended path forward

Important & Upcoming Dates

• The school will host its first student dance on December 12th

Academic Report

• No academic updates were reported at this time

Finance Report

• The school is in progress of opening a savings account
• Enrollment updates:
  • Three 6th grade students remain on the waitlist for the current school year
  • Four applications have been received for 6th grafe for the 2026-27 school year

Nandi Edouard approved the renewal contract for the school's marketing firm, KP Charter Kollective

The Governance Committee reported that it is updating governance meeting times to 6:00 pm ET on the first Wednesday of each month; this change will be brought to the Board for a vote later in the meeting

The committee noted that additional policy development will be addressed at the December board meeting

The Board was reminded that members with two years of service or less are required to attend both days of the upcoming SCSC training, while members with more than two years only need to attend one day. Morgan will confirm the training dates, anticipated to be February 10–11, 2026

Erika Estrada-Olufade presented the September financials, noting that the school ended the month with a modest deficit and a stable cash position. Enrollment for October came in significantly below the budgeted projection, which directly impacts QBE funding; however, a stronger student mix helps offset some of the loss. 

Revenue for the month aligned with expectations, and expenses are trending below budget due to delayed hiring and the shift of some instructional and administrative roles to contractors. 

Grant disbursements, including CSP and local fundraising, are expected later in the year and will help strengthen cash flow. Overall, while enrollment remains the key financial risk, the school’s expense management and anticipated grant revenue position it to remain financially stable for FY26.

• Corporate & Community Outreach
  • Chick-fil-A request is pending; no response yet
  • Regions Bank may be a potential source of support, particularly if there are personal connections
• Entrepreneur of the Year/Year-End Campaign
  • The campaign did not receive enough board member support to move forward. Plans are underway for the end-of-year giving campaign, highlighting families, students, and community partners who have been involved in the SVA journey to opening.
• Fundraising Brunch
  • The focus for fundraising is shifting to planning the February 28th fundraising brunch. The team is seeking in-kind donations, including: videographer, photographer, photo booth, decorations and florals, etc.
  • A silent auction is being considered for the event
  • Laura will continue supporting fundraising efforts through the fundraising brunch
  • Submissions from the Entrepreneur of the Year campaign will be leveraged at brunch
• Give/Get Reconciliation
  • A mid-year Give/Get check-in will take place by the end of January
  • Nandi Edouard will provide updated donation records at the end of December
  • Board giving records will be reviewed to ensure accurate reconciliation of contributions and donor attribution