• 2022-2023 KIPP Memphis Adjusted Budget vs Actual for All Schools, KIPP Forward, SST and KMPS Consolidated.

• All Schools:  Revenues exceeded expenditures due to the monitoring of general fund spending.  
• KIPP Forward:  Revenues exceeded expenditures due to planned grant spending during the second semester to support reenrollment for unenrolled KIPP alumni, college tours, and support with college financial aid applications.
• SST:  Expenditures exceeded revenues primarily due the timing of e-Rate reimbursements for the technology upgrades.

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

Chief Carr presented an update as follows:

• ESSER 2.0:  2022-2023 Adjusted Budget, Revised Budget and Actual Budget as of 1/31/2023
• ESSER 3.0:  2022-2023 Adjusted Budget, Revised Budget and Actual Budget as of 1/31/2023
• Total ESSER: 2022 - 2023 Adjusted Budget, Revised Budget and Actual Budget as of 12/31/2022

Chief Carr presented TISA Funding Formula as follows:

• Outcomes Funding - Incentivizes student achievement and education excellence
• Direct Funding - Offers students learning opportunities beyond everyday classroom instructions
• Weights - Provides additional funds for students with unique learning needs or who may need additional support
• Base - Covers the essentials each student needs for a K-12 education

Question:

Committee Member Coleman:   Will TISA do an estimate based on the data for the students you have this year and that'll dictate what the first payment will be and do they true up throughout the year based on actual data?

Chief Carr:  My understanding is there will be true ups and that is one of the questions I submitted to the state to understand around the timing of the true ups.

Committee Member Coleman: How do you feel about the accuracy?  Do you feel  internally KIPP keeps up and keeps all data accurate on a regular basis, or is it a struggle to get all data updated and accurate?

Chief Carr:  No, it's not a struggle in keeping the data updated.  Coya Maxwell, Director of Information & Knowledge Management does a really excellent job in keeping accurate data. She follows up and meet with the schools and has a great relationship with Memphis-Shelby County Schools enrollment and data team.

• Overview of the 2023 - 2024 Initial Budget Summary (Afton TISA Calculator)

J. Worles presented an update on Enrollment for all schools as follows:

• Budgeted Enrollment | Targeted Enrollment| January Milestone Goal - 50% | February Milestone Goal - 75% | March Milestone Goal - 100% | Retention Goal - 80% | 2023 - 2024 Enrollment
• 1,031 Total Enrollments (including new-student applicants) as of March 8, 2023.

• School based execution of recruitment plans
• Weekly Thursday regional recruitment meetings
• Continued promotion of Refer-A-Family Referral Campaign
• February Acceptance and Pending Denial Letters to Returning Families
• Targeted mailer campaign to 38106, 38107, 38108 non-KIPP households

Board Chair Davis:  What is KIPP going to do to guarantee the students show up in August?

J. Worles:  We have built out several touch points across the summer and even before we leave for summer to make sure that those parents, those families get touched.  A part of that is the acceptance letters that we will send out to say, you've officially been accepted to KIPP Memphis. Families will receive a welcome packet.  The schools will reach out and do touch points via phone call to those families, just making sure they continue to hear from us.  our goal is to have a consistent streamline of communication happening between now and August.  

April 5, 2023