A. Bothner noted that the agenda would be brief given this meeting is occurring during the board's strategic planning sessions.

S. Pressley provided an update on current financials. A meeting was held recently to review strategic goals, and they will be meeting again soon to discuss the ideal approach for building money. 

S. Pressley confirmed that the auditors had received access to all of the accounts. There should be a settlement by the end of September. 

R. Keogh shared that there would be work ongoing to account for additional accruals before turning over the books to the auditors. 

R. Keogh shared that there was a small increase on the net asset side from May to June. There has been a minor downturn in our investments given the current state of the market. Current net assets are in line with recent months. As far as metrics compared to DOE expectations, the school is exceeding expectations. Overall, we are in strong financial health. There were no changes to enrollment on the June financials, given we are waiting on our year-end enrollment reconciliation to be completed. We maintained a very strong surplus. Enrollment over the year landed above the enrollment target and budgeted target. The biggest areas of expense savings were on the occupancy and school culture lines. With the depreciation costs, contingency savings were offset. 

R. Keogh shared a high-level summary of our quarterly investment report. Because we invest in treasuries, if we hold them to maturity, the organization does not run a risk of losing money on these investments. Given the volatility of the market, they are priced monthly and do not show an artificial loss at this time. There will be no loss unless we sell early. Going forward, there may be a pause in some investments given the actual cash needs for the expansion and operating costs. There is ongoing brainstorming around an investment strategy to generate some higher returns. 

E. Chen shared that there are no updates for the Education Committee.

E. Chen shared that there were no updates at this time. 

A. Khanyile shared that there are no updates at this time. 

K. Brisseau shared that C. Barnes will be taking over as the Committee Chair so K. Brisseau will be transitioning responsibilities.  Additionally, there is a candidate for an open board position that they would like to introduce to the board at the next meeting. 

K. Brisseau shared that C. Barnes will be taking over as the Committee Chair going forward. Additionally, she reminded the board that they will be interviewing a candidate for a board position during the August board meeting. 

A. Bothner confirmed no members of the public are present. 

C. Barnes reflected on the three pillars of the school, and she focused on community so she shared some thoughts on her experience and how it relates to this pillar. 

C. Barnes shared a reflection on the "community" pillar as it relates to her personal experience and her role on the board. 

M. Russell shared an update on the expansion. They are trying to be more granular and get more specific design metrics from our architect and cost estimates. The majority of these costs are towards legal fees, project management, and asset costs. 

M. Russell shared an update on the expansion and the costs at this time. The primary drivers of the cost are legal fees, project management, and asset costs. 

M. Alston shared a summary of edits to the staff handbook. There are no major changes. They have also gone through the scholar handbook and made intention changes with feedback from various other team members included. This change was due to feedback from the authorizer during the renewal policy. 

S. Pressley reminded board members to review the board pledge and reviewed the topics covered in the pledge at a high-level.

M. Alston shared the updates to the staff and scholar handbooks. There are no major updates to the staff handbook. The scholar handbook was updated based on feedback from the authorizer. The feedback was vetted by various team members of the academic staff. 

This discussion will be pushed until September.

This will be discussed during the September Board Meeting.