Lisa explained that the funds (over $200k) dedicated to the HVAC project are showing as an asset on the P&L which is not recognized as an expense so makes us look like we have more cash than actual. It is not included in the projection. We are feeling good about where we are and how we will finish the year. 

Springfield Prep has not occupied the space this fiscal year because they moved out one year early but they have continued to occupy the space. They have asked if we could make any concessions to give them some financial relief. Finance Committee has discussed and is recommending that we forgive one month rent and cover the cost of the bathroom renovation. We will review the lease to understand if we need to amend it or vote to approve. 

We do not have a quorum so will push this vote to next board meeting. 

Rebecca gave a recap of the AA Com meeting, reminding the board that the committee looks at data aligned with accountability goals at every meeting. This meeting we had a robust conversation about all the data that the school is tracking toward accountability goals. The data looks strong and students are making academic progress. Discipline rates are at an all time low. Culture is strong! MCAS is coming and formative assessments indicate that students are tracking similarly to last year. 

The board reviewed and discussed the revamped compensation plan. There is a unanimous consensus from the board to move forward. We will fully transition all teachers to the new system next year. 

The board discussed the possibility of amending our charter to open a high school. We assume there are aprox. 400 seats in Springfield and looked at the financial viability of a high school. We have heard from many graduates that they are unhappy and not challenged in high school. Parents have always asked us to start a high school. We will continue to explore this opportunity. 

The board also heard an update on Veritas Prep Holyoke and talked about the possibility of expanding to the lower grades. We will invite Steve Zrike to a board meeting to learn more about his plans and how he thinks things are going with VPH.