Aurum Preparatory Academy
Minutes
March Special Meeting
Date and Time
Monday March 14, 2022 at 5:00 PM
Location
Zoom: 449-267-1102
Password: 12345
Directors Present
A. Kingsley (remote), C. Davis (remote), J. Huddle (remote), M. Knutson (remote), V. Hayes (remote), V. Toke (remote)
Directors Absent
None
Guests Present
D. Hardin
I. Opening Items
A.
Call the Meeting to Order
B.
Roll Call -- Establish Quorum
C.
Approval of the Agenda
D.
Public Comment
II. Information and Discussion
A.
Second Interim Report Review
Bryan Adams attending
- Net Income 208,000 projected depends on revenue and Esher money
- Excellent shape in terms of fund balance
- Cash balance (over 1,000,000 at end of year)
- Last year of CDE loan (4-year loan)
- Teacher headcount still at 13 (likely to stay 13 for next two years)...average teacher salary increased by 63,000 to 66,000
- Donations at 78,000
- Equipment and supplies 119,000 (may be due to Eser funds)
Vijay: How do we anticipate this changing over next year?
Bryan: We still have a lot of this ESER money...but once that runs out in a couple years, we really should have more students.
David: If we hold harmless on enrollment, than we could add a staff.
Bryan: Donations
Anne: Can you clarify enrollment
David: Oakland is oversaturated with schools; some school closures (such as Parker Middle); it is possible that there can be enrollment there. Charter capital is starting to show online applications coming in. However, we are also dealing with mass exodus out of Oakland. Digital presence needs to be strong, reviews need to be strong.
Bryan: Trend is likely to continue that no new charter schools will start and some may close if not in good standing.
B.
FY 22 - 23 Auditor Proposals
Audit services CLA: 19,850
Audit Services Christy White: 10,960 (long-term commitment)
III. Action Items
A.
Approval of the Second Interim Report
B.
Vote on Audit Selection
Vote reserved for next discussion
IV. Closing Items
A.
Board Comments
none
B.
Next Board Meeting
March 24, 6 PM
No one from public attended