The board entered executive session at 4:30pm to discuss personnel matters. The board exited executive session at 5:00pm.

Mrs. Mason de Gomez provided a recap of the Back to School Celebration held in August, which welcomed over 500 participants. The event featured student performances, a “Flavors of Philadelphia” experience with tasty cakes, Wawa hoagies and Herr's chips, community partners offering valuable resources to families, and complimentary haircuts for students. A video highlighting student performances and a social media reel capturing memorable moments from the celebration were shared with Board members. The event highlighted the school’s commitment to fostering community engagement, strengthening family connections, and celebrating the vibrant Pan American Academy community.

Governance: N. Flores discussed the upcoming Board outing to Vetri Community Kitchen and reminded members that the October Board meeting will be held in person. This meeting will also mark the first meeting with Congreso Board nominee Adamary Sosa. D. Russotto encouraged Board members to RSVP to the Vetri Community Kitchen outing to maximize participation and ensure a meaningful experience.

CEO Succession Planning and Governance Committee | N. Flores provided updates on CEO succession planning and Board governance. N. Reyes has agreed to join the Governance Committee alongside J. Garcia. Once the Board officially reaches nine members, the goal is to engage in more strategic discussions surrounding CEO succession planning and long-term leadership sustainability. The Board remains on track with establishing its executive leadership structure, with the following roles identified:

Board Chair: N. Flores

Vice Chair: Ashley

Secretary: J. Garcia

Treasurer: J. Becker

These developments reflect continued progress toward strengthening Board governance, leadership continuity, and strategic planning.

Finance & Audit: Development update, D. Russotto shared that the Dollar General Grant has been funded, providing support toward the purchase of a book vending machine. The vending machine will be placed in the cafeteria and serve as a fun and engaging incentive to encourage student reading, promote literacy, and celebrate student achievements.

R. Eglin reviewed the financial reports for July and August, representing the first two months of the fiscal year. Beginning with July, R. Eglin reported that both revenue and operating expenses were below budget. July's overall financial metrics look great. The current ratio was 2.04, above the minimum standard of 1.1, while days cash on hand totaled 120.68 days, exceeding the 45-day requirement. The debt ratio was 0.69, within the required threshold of less than 0.85, and the operating margin was 12.31%, exceeding the benchmark of 0%. R. Eglin also reviewed the school's two bond covenants, days cash on hand exceeded the minimum requirement of 45 days, and the debt service coverage ratio was 4.62, well above the required minimum of 1.15. 

August financial results, reporting that net income performed better than budgeted, with revenue exceeding projections and operating expenses remaining below budget. Special education enrollment was reported at 197 students, compared to the 192 students used by the School District of Philadelphia (SDP) for tuition payments. Regular education tuition was also slightly above projections, with payments based on 557 students compared to the budgeted 553. Operating expenses remained below budget, largely due to timing differences associated with the summer months, and are expected to normalize as the fiscal year progresses. The first tuition reconciliation is scheduled for September 28, with adjustments reflected in the October payment and applied retroactively to July. R. Eglin noted that once the November financial books are closed, an updated financial forecast will be presented to the Board. Overall, August financial metrics remained healthy and strong, with 121.8 days cash on hand, exceeding the 45-day minimum requirement; a debt ratio of 0.68, within the required threshold of less than 0.85; and an operating margin of 14.51%, exceeding the minimum benchmark of 0%.

Board members participated in small-group discussions focused on reflecting on the Portrait of a Graduate. The activity encouraged members to think strategically about the qualities, skills, values, and competencies that should define a Pan American Academy graduate. Discussions centered on what students should know, demonstrate, and embody upon completing their educational journey at Pan American Academy. This reflection served as an opportunity for Board members to consider the school's long-term vision for student success and how the Portrait of a Graduate can help guide future strategic planning and educational priorities.

Dr. Cass St. Vil, Chief Executive Officer of Charters for Excellence (PCE), joined the Board to provide a presentation on charter school policy and advocacy. The discussion highlighted the challenges facing charter schools and emphasized the critical importance of advocacy in supporting and sustaining the charter school sector. St. Vil provided an overview of the role PCE plays in representing charter schools, addressing policy concerns, and promoting awareness of issues impacting charter school communities. The presentation provided Board members with valuable insight into the importance of remaining informed and engaged in policy discussions that may affect Pan American Academy and the broader charter school community.