Dr. Wunder commented that Zoom chat has been disabled for board meetings upon legal advice. The board meeting is a meeting held in public, and any public commentary should be given during the public comment period.

Brief further discussion between Mr. Meath and Dr. Wunder.

Mr. Andrew McGregor thanked Dr. Wunder, Dr. Hawn, and Mr. Amato and the board for the compensation presentation given at the previous board meeting, saying that he loves his work and the board's appreciation of that work. Ms. Darlene Wonggaew also thanked the board, comparing the board's action to the furloughs she had previously experienced in a different district.  Ms. Amy Sy also thanked the Central Office and the board, adding that she appreciated having the opportunity to work with some of the board members' children.  Ms. Kelly Ann Sassone added her thanks, saying that she hopes to stay with Da Vinci until retirement, as the organization values its employees.

Dr. Brann spoke of the previous board action at the October 22, 2020 special meeting, and that he appreciated the staff's comments.

Dr. Brann thanked the original board members for their perfect attendance and assistance in reaching a quorum at each board meeting.

Mr. Raynaldo Santiago, Jr. took the oath of office.
Mr. Raul Ochoa took the oath of office.
Dr. Jo Webber took the oath of office.

Mr. Ochoa and Dr. Webber thanked the board for the opportunity to join the Board.  Dr. Brann thanked Ms. Morgan and the Wiseburn board members for their help in finding the new board members.

Mr. Morgan spoke of her excitement in being able to welcome and work with the new members, and added that she appreciates the opportunity to work with all the board members.

Mr. Boston welcomed the new board members, saying that he looks forward to working with them. He also thanked the teachers in attendance for their comments, saying that the students benefit greatly from their dedication.

Mr. Meath also welcomed the new members and thanked the teachers for their efforts.

Dr. Brann commented that especially in a year unlike any other, it has been wonderful to be part of Da Vinci and its success, and that the new board members will be part of that success.  He spoke of his imminent 75th birthday, crediting his efforts to keep moving and do something meaningful.

Dr. Wunder thanked the teachers in attendance for their kind words, and thanked Mr. Amato and Dr. Hawn for their work.  He also spoke of some teachers' feedback and opinion that experienced teachers were not valued.  Dr. Wunder added that he expects such input would be revealed by the listening tour for strategic planning and a shared decision-making process that is being conducted by consultant Mr. Richard Greenberg along with Mr. Boston's and Dr. Hawn's assistance.

Dr. Wunder also shared an update on the state budget hold harmless clause's effect on Da Vinci's finances, saying there are rumors that enrollment growth dollars may be released in the Spring.

Dr. Wunder shared a brief slide deck on the work to clarify the relationship between Da Vinci Schools and Wiseburn Unified School District, as the Board had previously requested. 

Mr. Amato reviewed the September 2020 financials.
The Balance Sheet shows Da Vinci retains a healthy cash position. Mr. Meath inquired if the new board members will be briefed on finances.  Dr. Webber commented that she is familiar with balance sheets and profit & loss statements, but not in an education setting.  Mr. Amato noted that he would be happy to create some education-specific information for the board.

Mr. Amato then shared the Profit and Loss statement, saying that the numbers shared are part of the original approved budget.  The First Interim report will show the multi-year projections in more detail, and will be discussed at the November and December board meetings.  He noted that expenses are tracking as expected, revenue is being tracked.  Deferrals begin in February.

The Fiscal Year '21 Cash Flow Report reveals the deferrals that will occur in LCFF revenue.  Other revenue will be received, but this LCFF revenue (just under $6MM) will be deferred (not received) until July through November 2021.  Mr. Amato shared that there has been no indication from the state that the repayments will be held up.  Mr. Meath noted that the state could defer the following year's payments to the year after.  Ms. Sabrina Ayala concurred, saying that is what occurred in the 2008 recession, when there were multi-year deferrals of 40%. Dr. Wunder added that Da Vinci will hope for the best and plan for the worst.

Ms. Morgan inquired about the 60-day cash reserve.  Mr. Amato responded that the cash in pocket today would last for 60 days if all other revenue ceased.  The deferrals have a significant impact on cash flow, but Da Vinci is projected to have about $1.5MM in cash at the end of June, and the deferrals are expected to begin being paid out in July.  Mr. Amato reminded the board that the Da Vinci Schools Fund and the Da Vinci $1.5MM credit line may be relied on if necessary. The PPP loan is expected to be forgiven and converted to a grant.  The team is awaiting details on the audit and forgiveness process.  The line of credit is secured against the schools' enrollment funding.  

Dr. Wunder shared that there are unfinished campus projects (kitchen, soccer field, restrooms, the Sandbox).  He is confident in the team's ability to raise funds ($5-7MM) for the projects.  Ms. Levenson has secured CTE grants to finish the Black Box theater, so work is underway on that project.

Mr. Meath shared that he would like a broader conversation regarding reserves.  Mr. Amato concurred that it would be a good exercise for the Board to designate the reserves for specific areas.
Ms. Ayala pointed out that the Education Code's minimum 3% reserve does not apply to charter schools, but that it is not a good idea to have reserves that low.  Further brief discussion ensued.

Mr. Bravo shared that the Department of Public Health visits have gone very well, thanks to the efforts of Dr. Emily Green, Dr. Ring, Dr. Hawn, the safety and facilities teams. These visits are mandated for schools which are bringing students on campus for one-on-one assessments, which Da Vinci is going to do for Special Education students.

Improvements of indoor air quality and disinfection systems are being explored with an eye toward improving air quality beyond COVID-19 concerns.

Mr. Bravo spoke briefly of an issue with water on the gym floor for which remediation was underway. Regarding CIF sports, Da Vinci has submitted a re-league request. Keeping in mind changeable public health guidelines, January is the earliest the pool may be used by the Da Vinci team. 

The IT team has conducted headset distributions for student use in remote learning and future state online testing.

Brief clarifying comments on which Da Vinci Schools LEAs are in the El Dorado SELPA.  Da Vinci Connect is currently participating in the Southwest SELPA, and will move to the El Dorado SELPA next year.

Ms. Morgan shared that she noticed the contract had the CFO position reporting to the CEO as opposed to the Board of Trustees as in previous CFO contracts.  Ms. Ayala commented that in her experience, the CFO does report to the CEO, but that the CFO often has an outlet to report any issues directly to the Board. The auditors may also report directly to the Board without the CEO and CFO present.

Mr. Meath inquired as to who conducts the CFO's evaluation.  Dr. Hawn responded that the CEO would evaluate and direct the CFO on a day-to-day basis, although the CFO would report to the Board on the whole.  There would be a "dotted line" between the CEO and CFO on the organization chart.

Dr. Brann commended Mr. Amato for quickly acclimating himself to Da Vinci Schools finances.  Mr. Meath concurred that he is most impressed and pleased with Mr. Amato's work.  Mr. Amato expressed his thanks and noted that he had the assistance of Sabrina Ayala, Dr. Wunder and Dr. Hawn in ramping up quickly.

Closed session was entered at 7:35 p.m.

The board reconvened at 8:49 p.m.
Dr. Brann reported that no action was taken.