Academic & Program Update

Nandi provided an overview of recent academic activities, including student project-based learning outcomes and ongoing preparation for GMAS over the next six weeks. 

Compliance & Monitoring

Monitoring results were reviewed, with four compliance items identified. A Corrective Action Plan (CAP) has been developed to address these items, with a target resolution date of March 31. If all items are resolved by this date, formal submission of the CAP may not be required.

Operations & School Nutrition

The Board discussed ongoing challenges with the school’s nutrition vendor, which have impacted instructional time. Alternative options were considered, including transitioning to a different vendor or investing in upgraded kitchen infrastructure; however, both options present cost and feasibility constraints. No decision was made.

Educator Supplement Allocation

The Board reviewed the state-funded educator supplement and discussed allocation parameters, including considerations to expand eligibility across all SVA staff.

Fundraising & Board Giving

Nandi confirmed that the annual board giving goal has been met. The board discussed the Brunch-to-Build fundraising event, highlighting a resulting modest net gain. The event was noted as successful for community engagement and visibility.

Board Engagement

Nandi highlighted a few upcoming events where board participation is encouraged.

Board Recruitment & Development

An update was provided on recruitment efforts, including outreach to prospective candidates. Board members were asked to each submit five additional candidate recommendations to support onboarding of new members by May, in advance of the next fiscal year.

Upcoming Board Actions & Planning

Lovette noted that two budget hearings will take place in May and June, with a final vote to follow. The school calendar will also be presented for approval at the next board meeting.

Governance & Oversight

There was initial discussion on the need to define the board’s role in hiring executive leadership (e.g., principal, operations leadership) to ensure an appropriate balance of support and accountability.

Corrective Action Plan (CAP)
The CAP was reviewed as part of governance oversight, with progress noted on required training completion, policy updates, and inventory documentation.

The Finance Committee presented February financials and provided the following key updates:

• Overall cash position remains stable but requires monitoring
• Cash flow constraints driven by timing of grant reimbursements, particularly CSP funds; accounts payable remains elevated as a result
  • Next grant drawdown anticipated on May 1
• Projected year-end deficit, with ongoing discussion of expense management strategies to mitigate impact
• Changes to Local Five Mill Share (LFMS) calculation are impacting revenue projections; additional clarification is being sought from the state

The fundraising update was deferred to the next meeting.