Libertas Academy Charter School
Minutes
Monthly Board of Trustees Meeting
Date and Time
Tuesday May 28, 2024 at 5:30 PM
Location
Libertas Academy Charter School
146 Chestnut Street
Springfield, MA 01103
Trustees Present
C. Resto (remote), J. Gunther (remote), K. Diamond Kayiatos, N. Barker, N. Coakley (remote), P. Kkayego (remote), S. Lapolice (remote), S. Williams (remote)
Trustees Absent
A. Seymour, K. Stewart, T. Curtis
Ex Officio Members Present
M. Montero
Non Voting Members Present
M. Montero
Guests Present
Emma Gianoplus (remote)
I. Opening Items
A.
Board Chair Welcome
B.
Record Attendance and Guests
C.
Call the Meeting to Order
D.
Approve Minutes from Prior Meeting
E.
Public Comment
II. Management Report
A.
Management Report
B.
Loan Approval Request
Mass Development Loan Terms- $400,000
Larger tech costs than anticipated due to use of satellite campus
approx $7800/ month
Won't necessarily need to use all 400K, but that is available to LACS- interest paid will be on amount taken
no prepayment penalty/ 6 months of interest only payments
JG and PK- interest rates higher than expected; refinancing a possibility?
Loan won't be executed until LACS draws down funds
JG- worth pausing before executing to see if we can cover these budget items by drawing down savings instead
SL- interest rates continuing to go up
MM- considering using existing line of credit for up to $150K- could we increase and use that instead?
III. Committee Reports
A.
Academic Achievement Committee
No meeting due to ongoing testing period at LACS
Kudos to MM for end of year celebrations and Top 10% initiative
B.
Finance Committee
PK reported good caution from LACS and feeling good about the financial status.
KDK- All greens! Strong record to celebrate
C.
Development Committee
Hard Hat Tour- excited to see key donors at the event
Paul Robbins working to strengthen connection with AIC
D.
Governance Committee
Meeting next month
E.
ED Evaluation Committee
Meeting scheduled in early June to go over end of year data
IV. Closing Items
A.
Next meeting
Visit to new building will be part of retreat
Attending in person would be ideal
B.
Adjourn Meeting
- SY23-24 May- BOT Management Report.pptx
- FY23-24 April Financials.xlsx
- Proposed SY24-25 Budget.xlsx
Highlights:
Applications still coming in, including one for 10th grade
Recruitment attended pancake breakfast with drum line and event at BB HoF
Student Life-Field trips, spring fling, Junior focus on SAT's as well as fun activities during upcoming Junior Week
Top 10% Dinner- desire to focus on and celebrate the top students. Scholar society will be attached to a mentor who works in the field in which they are interested. Exposure to service learning. MM seeks to inspire this group to excel and pursue dreams
Teacher Appreciation Week
EG update of Liberty St-
- Steel structure complete
- First floor exterior studs installed
- Kitchen layout revisions complete, with other work well underway
- Three Liberty St Tech partnership
- Kitchen equipment and layout update- will provide expanded offerings to students
- Walk in Freezer - food prepared on site
- Salad Bar
EG: Satellite Campus- 1 Federal St Building 111-4 (Tech Park)
- Space for seniors to start school year
- furniture quote signed 4/19
- Tech equipment signed 5/16
- CO projected to be granted on 7/18
Legacy Ambassador Committee (students, staff, families) visited Liberty St and connected with builders
EG: Hard Hat Tour on 6/4
MM: Talent- not meeting internal goals on internal criteria, but LACS is taking active steps to find more and stronger candidates. Offering sign-on bonuses for AP teaching roles
MM: Recruitment- waitlist in 6, 7, 8, 9
MM: Academic Data- no significant updates as testing has been underway
MM: 8th grade Promotion 6/13 4-5:30
MM: Surplus from Literacy Initiatives and Furniture, since LACS was not making purchases before move. Also a surplus in personnel costs due to medical/ family leaves. MM seeks to give EOY Staff Bonuses to recognize difficulty of this year and ongoing efforts to create a meaningful experience for students. MM does not wish to go past the 50% of surplus