Mr. Greg Thompson:

FRAYSER COMMUNITY SCHOOLS CONSOLIDATED ORGANIZATION REVENUE & EXPENSES - SUMMARY FY2022-2023

• Budget Notes:

Enrollment: 550 335 205 1090 

• REVENUE: 
• Charges for Current Services $49,000.00) $8,500.00) $8,500.00) $0.00) $66,000.00) primarily sports fees and senior dues. 
• Other Local Revenues $0.00) $0.00) $0.00) $115,000.00) $115,000.00) Estimating $85K from Crawford Howard Foundation and $30K for Opportunity Culture. 
• State of TN $6,229,725.48) $3,797,920.00) $2,405,360.00) $0.00) $12,433,005.48) Includes BEP funding (Budgeting for 1,090 students at $10,587 per student); ESSER Grants (Since there will be a budget revision in late summer of 2022, FCS is only budgeting ESSER 2.0 and 3.0 revenue for known expenses already in the budget. Additional ESSER reimbursements will likely cover new expenses not currently budgeted in this model -- which would lead to no impact on the net income line). 
• Federal Government $1,218,461.88) $662,684.22) $460,435.86) $0.00) $2,341,581.96) Includes Title I, Title II, IDEA, and TAG Grant. CTE at MLK will be included in a budget revision (CTE Grant has not yet been approved by the ASD. This grant will likely cover new expenses not currently budgeted in this model -- which would lead to no impact on the net income line). 
• Other Sources $0.00) $0.00) $0.00) $0.00) $0.00) 

TOTAL REVENUE $7,497,187.36) $4,469,104.22) $2,874,295.86) $115,000.00) $14,955,587.44)

• EXPENSES:
• Salaries $3,561,342.03) $1,800,067.04) $1,705,997.00) $1,227,949.44) $8,295,355.51) ~$1.5M in salaries covered under Grant Funding. 
• Taxes and Benefits $819,108.67) $414,015.42) $392,379.31) $282,428.37) $1,907,931.77) ~$120K in taxes and benefits covered under Grant Funding. 
• Contracted Services $1,080,984.28) $854,350.00) $802,350.00) $388,096.00) $3,125,780.28) ~$596K covered under Grant Funding. 
• Supplies and Materials $794,466.30) $521,250.97) $507,431.50) $18,000.00) $1,841,148.77) ~$687K covered under Grant Funding. 
• Other Charges $1,000.00) $500.00) $500.00) $73,700.00) $75,700.00) Insurance policies (General Liability, Building and Content, Worker's Comp). 
• Debt Services $0.00) $0.00) $0.00) $0.00) $0.00) 
• Capital Expenses $0.00) $0.00) $0.00) $9,000.00) $9,000.00) Promethean Boards for Network Office. 

TOTAL EXPENSES $6,256,901.28) $3,590,183.43) $3,408,657.81) $1,999,173.81) $15,254,916.32) 

SURPLUS / (DEFICIT) EXCLUDING DEPRECIATION $1,240,286.09) $878,920.79) ($534,361.95) ($1,884,173.81) ($299,328.88)

Dr. Bobby White:
 

• We now have our data nwhere we can accurately report precisely where we stand with our 21-22 T-Cap data. So the only piece I will mention briefly is that we're applying to Memphis Shelby County Schools for Westside. We applied for the parent trigger, which allows us to operate Westside for two more years under the ASD umbrella. However, since we are in year ten, we have also applied to be a part of Shelby County Schools as a charter school operator for Westside.
• We were denied, like all of the rest of the charters. We were very encouraged because the board members took Westside out of the vote and discussed it. And so, we were given orders around which sections we needed to resubmit. We were told that our situation was unique since we had not completed an entire charter application before. Because the ASD gave us Westside without us ever completing an entire charter application because they couldn't run the school, they recognized that they could not handle secondary schools to their credit. And they decided just to run the four elementary schools and they gave us Westside with very little information. So Shelby County decides, hey, you all submitted a part of it, but now we want you to submit a complete application. We had 30 days to complete ten sections, and our team collaborated and figured it out. And we were able to get that completed. 
• Thank you, Ms. Warren, for putting those binders together for us. Mr. Lawson and I turned in those five binders. And we have submitted our charter application, and we're just waiting for what will happen. I can guarantee you we will be denied. It is a part of it. But one of the things I'm doing every day is meeting with board members so that we can get our votes. I met with Commissioner Harris yesterday and with Commissioner McKissack on Friday. I will be meeting with Commissioner Love on Thursday. These are not the first conversations I'm having with them. We are a part of the conversations that they're having. But it must be ongoing because they have to know what's going on. Because here's the thing. No one who ever returns to the ASD will have the academic data that meets their superhuman strength. So they're going to have to vote on us based on a number of other criteria. Do they believe that we have what it takes that if we are a part of their district, that the supports that they can provide? What we currently do well will capitalize our schools to a level where we can meet their academic standards. Right now, we know we don't need it. And two schools in ASD probably need it: Libertas and Corner Stone. So the rest of the ASD schools don't.

Mrs. Arlinda Cathey:

• I want to start with welcoming our new board members to the FCS family, Ms. Sandra Gibson and Ms. Candace Reddick.
•  As we move forward with board recruitment, I want to give some brief updates regarding a few things. I have scheduled a 1-on-1 with Ms. Charlene Thornton for June 16th. I will meet with her first, and then everyone knows the process. The board, whoever is available, can join for a group interview, and then Dr. White will have a one-on-one with each of the board candidates, which is the final stage of the process. So we're moving people through the process. I have met with Mr. Kevin Armstrong and  Mr. Tony Robinson, and they are ready for a 1-on-1 with Dr. White. Mr. Armstrong is present with us this evening. Thank you for coming out and joining us. We've made contact with most individuals on our list as we are either scheduling meetings with them or if, by chance, there are meetings that are already on the books. 
• Let's transition now to providing recognition to another board member who is rolling off; this will be her last board meeting. She has given us not only two current board members based on her recommendations from the previous cycle, but we have received several board candidates from the existing pipeline due to Mrs. Dowell's ongoing support. We want to thank you for your continued commitment to serving not only with Frayser Community Schools but all of the work you do with the Frayser PTSA and throughout the Frayser community. You are an inspiration to work with. You have helped me figure out how to ask the hard questions relentlessly. We will miss you. You are more than welcome to sit in on future meetings. I will try not to call you so much, maybe a couple of times.