Elaine Schmiedehoff of CSBM shared the September monthly financials. TNAACS currently has 107 days of cash on hand. Enrollment is down. We budgeted for 262 and have a current enrollment of 208. This has had a significant impact on our financials, and it was reported that revenue is expected to be down significantly as a result. There is a small saving in personnel expenses. One open position has been eliminated, and salary shifts have occurred due to new hires.  However, insurance costs have increased significantly. The Finance Committee met to trim the budget, and some numbers are significantly lower than originally budgeted as a result of these savings. Overall, it is expected that TNAACS will dip into its cash reserves, and there is a current projected loss for this year's budget of approximately $800.000.

Cash is strong at approximately $3 million, plus funds set aside in the school's escrow account. The school does not anticipate needing to use any cash reserves before the end of the year. 

Jenny Trani did a data share for the board. She started with student enrollment data for 2026/2027. Currently TNAACS has an enrollment of 208 students. She then reviewed monthly application data, including multiple years. Jenny emphasized that the applicant does not indicate whether the student actually enrolled. Data showed a slight increase in September applicants compared to last year, but a decrease in July and August applicants this year. 

Next, she shared student intent-to-return data from the Spring. Traditionally, TNAACS retention trends are in the 90% range or higher. This year, our retention was in the low 80s. Many families said they were returning but then ended up discharging. A large number of discharges were from the second grade moving to third. While it is unclear exactly why this occurred, the teacher who had taught the cohort for 3 years resigned in August. Several discharges also moved out of state, and several moved to different charters. We are currently working strategically to backfill student openings.

Next, we discussed our iReady beginning-of-the-year baseline data. Ms. Trani reminded the board that our goal is for all students to be in the green. Another schoolwide goal is to have no students in the red by year-end. Baseline BOY data was shared for both reading and math across a three-year range.  We next compared baseline reading and math data with last year's end-of-year data. Ms. Trani reminded us to keep in mind the number of discharges from the previous year when looking at this data. She also said it is normal to see yellow get bigger at the beginning of the year because students are being assessed on material from their new grade. We then looked at a breakdown of the data by individual grades.

Cristy Cuellar shared that the Academic Excellence Committee was discussing Mayo Mandami and Chancellor Samuels's policy on AI and computer screen time in NYC public schools. The committee wondered how this would affect TNAACS and whether we are required to follow the DOE policy. Lisa Silva shared that TNAACS was not required to follow DOE policy, including the policies around screen time and AI. Lisa shared a chart comparing the DOE policy as written and the policies and practices currently in use at TNAACS.  While TNAACS currently does not have any grade-specific screen bans or limits, the curriculum is predominantly paper-and-pencil-based. Exceptions include our Upper Loop test prep unit, which utilizes PEAR assessment, and some classes have students complete iReady lessons weekly. TNAACS does not have students use generative AI. Like the DOE, TNAACS uses technology for diagnostic assessments. It also uses technology for end-of-unit assessments in grades 2 through 5.

Lisa Silva shared Board On Track Professional Development resources for the board.