Academics

• No update; GMAS scores have not yet been released
• Full academic update expected at the start of the new school year
• Retention and promotion policies to be discussed over the summer

1st Annual Expo and Marketplace

• SVA held its first annual student business expo and marketplace
• 14 students pitched business ideas to a panel of judges
• 13 student-led businesses participated in an outdoor marketplace
• One student received a sponsorship from the Douglas County Chamber of Commerce

Student and Family Intent-to-Return Conversations

• Families expressed strong appreciation for SVA's culture, community, and mission
• Recurring areas for growth identified: academic rigor, communication and transparency, athletics and extracurricular expansion, behavioral consistency, gifted/exceptional learner support, and transportation
• Board discussed conducting similar feedback conversations with staff, conducted by the board chair and an additional member

Enrollment Update

• 89 students currently confirmed enrolled; budget goal is 125 (gap of 36)
• Open seats: 48 in 6th grade, 19 in 7th grade; 8th grade is waitlisted
• Director of Operations continues to follow up with applicants on outstanding paperwork

Technology

• Current 1:1 laptop model has become a source of classroom disruption
• Proposal to shift to shared devices supplemented by reusable digital notebooks

The treasurer presented the proposed FY27 budget, developed in collaboration with the Executive Director and reviewed by the Finance Committee prior to the meeting.

Key Assumptions

• Enrollment projection: 125 students
• Staffing: 13 FTEs (teacher assistants and similar roles budgeted as contracted services)
• Projected teacher-to-student ratio at enrollment: approximately 1:22
• CSP grant is a significant revenue driver; recent federal guidance expanded the allowability of certain CSP expenses, which positively impacted the budget

Revenue highlights:

• QBE (Quality Basic Education) per-pupil funding represents approximately 70% of projected revenue
• CSP grant represents approximately 25% of projected revenue. This is the final year of CSP funding
• Additional revenue sources include Title funding, IDEA, and anticipated donations/fundraising

Expense highlights:

• Personnel costs (salaries and benefits) represent the largest expense category, at approximately 45% of the expense budget
• Instructional services, transportation, and school food services collectively represent approximately 22% of expenses
• Facilities is budgeted at approximately 10% of revenue, within the recommended range
• Administrative costs (consultants, finance support, etc.) represent approximately 10%
• CSP funds are reimbursable; the school spends first and draws down funds. Cash flow management is a noted risk area, as CSP disbursement timing can be unpredictable

Budget summary: Projected revenue exceeds projected expenses, resulting in a surplus. The budget projects ending the fiscal year with 65 days cash on hand, above the 60-day target.

No public comment was received.

The following policies were reviewed and presented for board action:

• Parents' Bill of Rights
  • Informs parents of their rights regarding access to school records, transfer information, instructional materials, opt-out options (photographs, videos, sex education), and procedural review
• Employee Acceptable Use and Social Media Policy
  • Establishes boundaries for staff use of social media, including prohibitions on defamatory or discriminatory content, requirements to maintain school confidentiality, and a reminder that there is no expectation to privacy on school-owned devices.
• Employment Practices and Employee Conduct Policy
  • Covers equal opportunity employment opportunity, background checks, drug and alcohol policy, nepotism, ADA compliance, outside employment disclosure, political activity, certifications code of ethics, and dress code.
• Social Security Benefits (FICA) Policy
  • Informational policy notifying employees of their social security status.

The April 2026 financial report was presented. Key items:

• The school reported a net surplus for the month
• Current days cash on hand: 21 days
• Year-end projection remains on track; a large CSP drawdown and a RedefinED drawdown are anticipated to bridge the gap

Fundraising discussion will resume at the June meeting.

A community member asked whether the school has a curriculum focus on entrepreneurship. Nandi Edouard confirmed that SVA has an entrepreneurship teacher that is certified in business for grades 6-12.