Rachel shared that network team and school leaders are finding ways to check in on and support faculty and staff in this remote environment. The virus is beginning to impact employees and family members and she shared one such example. Rachel explained the need to approve an additional temporary policy to support employees who are impacted by COVID-19. 

Rachel shared slides for the board to review around hiring for SY20-21. She explained that this agenda item would be moved to the May board meeting as we will not have time to hear a more thorough update on staffing at this time. 

At the time we purchased the building, the management team, overseen by the finance committee, created a capital plan which included projects we anticipate needing to complete which anticipated costs and timelines. We have successfully completed the HVAC and lighting projects. The roof project is next on the list and we are asking the board to approve the contract today to complete this project. 

We invited the trustees to as questions about current monthly financials. All is tracking according to projections and as planned. No one had questions. 

Rachel and Lynne shared the draft of the FY21 Annual Operating Budget and talked through the assumptions around revenues and expenses. Tuition revenue is assumed based on last projection from DESE. We realize the current situation with the economy may impact the anticipated increases in tuition from the SOA and will continue to monitor updates about tuition and consider contingency plans for reductions to revenue as needed. Private funding is projected higher than we assumed at this time and we are hopeful about offsetting any reduction to tuition with fundraising. Expenses are assumed based on previous years with no significant changes to program expenses. Trustees are asked to review this budget and come prepared with questions to the May meeting as we they will vote to approve it at that time. 

Rachel provided some background about the Space and Services Agreement which is a contract between VPCS and the Friends of VPCS, Inc. The agreement exists in order to reimburse the school for the space and services it provides to Friends of VPCS, Inc. to support its management of Veritas Prep Holyoke. Quarterly time studies are conducted for all network team employees and reviewed as part of the annual audit. This fee is represented in the revenue section of the FY21 Annual Operating Budget which the board will be asked to approve in May. 

David shared the status of filling officer roles. Denise Ford has agreed to serve as treasurer and we are still working to fill Vice Chair and Secretary. We expect the two trustee candidates we have been recruiting will still join our board in FY21. 

Rebecca Sela led a discussion about remote learning and encouraged Rachel and team to document what we are doing and what is and isn't working in anticipation of needing to operate remotely in the future. Matt Landon had asked if the team was planning for this and Rachel said they are thinking about it but no real plans as of yet. Rebecca also shared some promising practices and ideas she is hearing from other schools including being more efficient with staffing and relying on individual teacher strengths given we do not need to staff and schedule for the typical day.

Rachel shared another email form a member of the inaugural class, now Seniors in High School, reporting that he had earned a full boat scholarship to Columbia University. Judi Crowell shared that Michael would be studying A.I. at AIC in the all. Great news!