There were no public comments for this meeting.

Finance Committee Chair Sweet presented the following presentation:

2021-2022 Audit Update

• Audit report filed with MSCS on December 30, 2022 and the TN Comptroller Office on
  December 31, 2022.
• Financial Statements were presented fairly in all material respects, in accordance with generally accepted accounting principles.
  • Audit Finds:  None
  • Management Comments:  None
• 2022-23 ESSER Update as of December 2022
  • ESSER 2.0 must be spent by June 2023 and ESSER 3.0 must be spent by June 2024

Financial Oversight Report Card

• KIPP Foundation required all regions to self report on key indicators as follows:
  • Board/Executive Oversight | Budgeting | Long Term Financial Model | Internal Controls: Policy & Procedures, Leadership, Training, Communication  

December 2022 Financial Update

• Committee Chair Sweet gave an overview of the 2022-2023 KIPP Memphis Adjusted Budget vs Actual for All Schools, KIPP Forward (KF), SST, KMPS Consolidated.

2022 - 2023 Cash Projection

• 40 Days projected cash on hand at June 2023.  Cash projections excludes the KIPP Foundation $750,000 CD and Charles Schwab $2.5m investments

2023 - 2024 Budget Calendar

• KIPP Memphis is currently on target to to meet budget target dates.

2022 - 2023 Enrollment

• Committee Chair Sweet gave an overview of the 2022-23 Adjusted Budget for all schools as follows:
  • Enrollment as of January 27, 2023, Variance (Adjusted vs January 27th), Projected Weighted ADM, Variance (Adjusted vs Projected ADM), and Est. Budgetary Effect
• Spending has ceased as of February 10th across the board accept for ESSER and Title 1 funds.

Committee Actions

• Howell Campus Window Replacement will be discussed in another report.
• Fiscal Policy Revision– Charles Schwab asked to change some of the language in the revision.  The change will go before the Finance Committee in March and then be presented at the next Board of Directors meeting.

Chief Brooks presented the Academic Excellence update as follows:

Academic Data Progress Toward Goals

• Achievement Goals: Success Rate (All Campuses) | On-Track & Mastery - ELA, Math, Science, and Social Studies
• Achievement Goals: Success Rate | On-Track & Mastery - ELA & Math - 3rd and 7th Grade, ALG1 & ENG1 - 9th Grade
  • Attendance and Graduation Rate

2nd Benchmark Data for all campuses:  Overview of the ELA, Math, Science

• Social Studies for KMCM, KMAM and KMCH

Tri-Weekly Assessment Data:  Overview of KMCE, KMCM, KMAM, KMCH - ELA, Math, Science

• Social Studies for KMCM, KMAM, KMCH

Strategies for preparing for TCAP/EOC

• Writing Plan, PSAT, Mock Testing, ACT

Teacher and Staff Support

• Strategies:  New Teacher Academy - To provide KMPS new teachers with an additional layer of support.  
• Intent to Return:  Chief Brooks gave an overview for all school teachers intent to return with a total of 94%. 

What's Happening in Schools

• Swim Team; Support KMPS Latin students with lots of activities; Collected over 3600 items for KMPS Necessities Drive and will be used to setup pantries at each school; Recruiting Students; 3 students received a $1,000 Scholarship from the Scruggs Foundation; Basket Raffle from each school and the SST Office as an incentive for parents to re-enroll their children

G. Johnson presented the following:

Deferred Maintenance Projects

• Henry Windows Replacement (all windows):  Upper level windows scheduled to be completed by February 23rd.
  • March until May - Continue with project plan with focus on entry ways during Spring Break; May 31, 2023 - Contract completion date.
• Henry Roof:  Project Completed
• Howell HVAC:  Project Timeline
  • February 18 - 24:  Contractor will demolish old equipment; Estimated 42 weeks; February 29, 2024 - Contract Completion date.
• Important Operations and Facilities Bids/Request for Proposals
  • Update on RFP for Maintenance Trade; Disciplines/Minor Construction Services; School Nutrition Program (RFP for Food Service Management Company); Custodial Services June 2023; Security Services June 2023

J. Worles presented an overview of the following:

• KIPP Memphis Strategic Planning w/Attuned Education Partners
• KIPP Foundation CEO, Shavar Jeffries, Visit
• Board of Directors Retreat - April 21, 2023 at Varsity Spirit
  • 1/2 day retreat.  (The board will be surveyed to determine which 1/2 of the day).
• Committee Actions
  • Parent Recommendation for Board of Directorship
    • Penny Alvarez - KMCH parent
    • Jane Maina - KMCE and KMCE parent

Question:

Committee Member Sweet:  Will the retreat be the 1st half or the 2nd half of the day?

J. Worles:  The plan is to We are planning on sending a survey to the board members to determine the most response on the time of day.

Enrollment Updates - Region Wide as of February 17, 2023 as follows:

• All Schools, Budgeted Enrollment, Targeted Enrollment, January Milestone Goal - 50%. February Milestone Goal - 75%. Retention Goal - 80%, and Current 23-24 Enrollment.
• Recruitments Efforts:
  • Each school has hosted two Open Houses and School Tours for current and prospective families.
  • Gift baskets valued at $100+ were raffled off to parents of current KIPPsters who registered their students by the Early Bird Deadline.
  • SST staff phone banked and delivered recruitment materials to local Pre-K and daycare centers.
  • SST staff tabling at several local school fairs, and community org. events.
  • Schools have also hosted internal re-enrollment incentives for students and parents, competitions for staff to encourage re-enrollment, constant communication to families, and tabling at local schools and athletic events. 
  • School level distribution of flyers to current and new parents, partnership building with local organizations and feeder schools for recruitment and tabling at events and school fairs.
  • School level weekly office hours for parent registration supports
  • Feb. 11 MSCS School Choice Fair
  • Thursday regional recruitment meetings
  • Pivot to new student recruitment focus and targeting Latinx population
  • February Referral Campaign
  • February Acceptance and Pending Denial Letters to Returning Families
  • February phone banking to Community Centers & tabling sign-ups

• KIPP Foundation, CEO Shavar Jeffries visit
• Introduced the new KMPS Chief Operating Officer, Tiffany Collins 
• Enrollment and Recruitment
• KMCM Renewal 
• Final Benchmark Assessment
• Mock TCAP
• 8th & 9th Grade PSAT - no test glitches.  Performance in each of the 4 content areas.
• New Teacher Academy - Hiring fair every Tuesday at each campus. great success from HR in their hiring fairs.
• HR Hiring Fairs
• KMPS Executive Retreat
• MLK Day Necessities Drive

Board Chair Davis gave an overview of the following:

• Recommended the vote on the Board Minutes from December 8, 2022 and the Parent Boardship to be voted on at the next Board of Directors meeting, April 20, 2023 due to not enough board members present for a vote.
• Overview of conversation with Penny Alvarez (KMCH parent) and Jane Maina (KMCE parent) and their willing to join the parent Board of Directors.  
• The parents should be invited to the next board meeting and board retreat. 

G. Johnson gave an update on the Howell Campus windows project (Wagner General Contractors).  They will be replacing all the windows around the front of the building.  The term of the contract will be until July 31, 2023.

Chief Carr gave an overview of the Signature Authority Current Language and the Proposed Language.

Board Chair Davis Comments:

• Visited the campuses and looking forward to seeing what comes in this next benchmark and ultimately  KMPS results.  The middle school enrollment was my main takeaway, especially at KMAM and the high schoolers.  The energy of the children was great and CE was buzzing. The elementary school was fun to see.  
• Welcome Tiffany to the KIPP Team and Ryan to the meeting today.  Chair Davis thanked the KIPP Memphis team for all the work that they are doing. 

• Parent Recommendation to the Board - Parent recommendations for the board were reviewed. The two parent candidates will be voted on during the April Board Meeting, however, in the interim, the parents will be invited to the April committee and board meeting. They will be recused when voting takes place. 
• Howell Campus Windows - Gwen Johnson gave an update on the window project for notification purposes only. Board vote was not needed The Finance Committee has already voted on this. 
• Signatory Authority - Chief Carr gave an overview of the language for Signatory Authority with Charles Schwab. Additional revisions are needed and the language will be taken back to the Finance Committee in March.