AB mentions all of the usual sections in order but finance discussion will be first to accommodate schedules. No revisions noted.

SB mentions MR and AB may take over if time does not allow her to finish. MR mentions that portion will cover salary increases and other notes. Timeline, includes budget amendments, salary approval and org chart approval, looking to have that take place today. In the next month we will continue to edit budget. Salary accounts for 64% of the budget. Full budget will be given in April and finalized in May. Organizational changes have taken place changed titles, expanded programs and added several positions. Differences focus on culture and different learners. We are scaling up to meet expansion needs which accounts for deficit in budget. This is normal part of growth. 

Our enrollment is strong when this is lacking at other schools. Stable leadership, retention is strong part of our culture different from other schools. Ascending performance in scholars, when other charter schools are not always meeting. Nuasin has a strong balance sheet, investments are thoughtful. Weaknesses can include short track record, we are a new school, we are working in a challenging environment, Funding gap to expansion. 

Opportunities include having a great narrative and great relationship with our community. Diverse leadership that sets us apart. Other schools are struggling which can enable us to leverage our impact on the community. We have a 5 year renewal which increases our stability. We have an innovative pipeline for teachers and staff members. 

Threats can include not expanding will not make us a competitive high school. Larger players have been pushed out may also be encroaching on spaces we have interest in. Migration from NYC is another threat we face. 

We are holistically thinking of expansion and taking the pro's and cons equally across the board and mitigating for risks while capitalizing on opportunities to grow. 

We plan to be sustainable and excellence by using the key foundations: expansion, raising capital, rental assistance, conservative projections, research and strong partnerships.

Organizational chart changes include K-4 AP, Dean of instruction K-4, Dean of Instruction 5-8, K-5 AP of Differentiated learning, adding a college readiness associate, human resources manager. These changes are scalable, keeping expansion in mind. 

Proposal for teacher changes include increasing SPED teachers by 1 in K-8 and HS.  We are adding 1 leader of school culture and adding college readiness associate. Operations team plans to expand by adding HR Manager. Salary changes include increase 4% across the board. This matches increase match of increase in revenue. Two positions will get more than the 4% which is the K-4 AP and the scholar services operations associate who will each get an additional 10K. 

Estimated cost is 1.1 million overall. 5 year budget projection includes having 3 years deficit. We do not have enough cash to fund for two years but not enough for 3 years. This funding gap will be addressed with fundraising. Since we have a sustainable business model we will be able to fund the gap. Paying for growth and raising without fundraising will deplete our funding. Expansion is important in order to financially be stable and grow.

MR calls on AB to give his thoughts. AB requests to look at cashflow. He understand the deficit and mentions we were all waiting for, and agrees with moving forward with financial numbers. RK mentions that staff to student ration is 5.5, on average most other CMO run from 6.8-6.2 which is why we are seeing better results with scholars. Union and DOE do not have a contract, average Nuasin pays 10,500 more than other schools in our area. He mentions we are making an investment in our people and scholars. AB believes the per pupil revenue will grow 4%, RK agrees, he believes this metric is good to keep in mind and part of our structure in guiding our principals. MR mentions that although we are not fully staffed, we are in a scalable construct. Our staff numbers is due to our forward thinking in expansion. MR thanks RK for his input. JB asks when we reach sustainability will it be due to sustainable revenue or one time payments, RK mentions that the budget does not include development, and when new scholars are added with expansion then that's where the surplus will begin to occur. AB asks if this number includes everything, RK explains that this accounts for taking on the cost of expansion ourselves. AB explains once we fully expand we will only see reoccurring revenue. Operating expenses in the next several  years are due to one time expansion costs but are not itemized. JS asked how sustainable or viable is the fundraising plan. MR explains that later in the presentation he will get into the specifics of how we will fundraise and our plans to target high dollar donors. 

MR gets into intellectual excellence and caring for the scholar as a whole. We continuously demonstrate intellectual excellence. 

SR mentions that financials are strong. YTD metrics are strong in net assets, Debt to service coverage ratio. Enrollment is above the budget, 11.4 million in revenue recognized this year. We are hoping to end on a strong note. AB asks 26K increase in expenses but questions where the surplus is coming from. SR mentions that there is cash because we budgeted less per pupil. We have more SPED students but a change in the categories. AB asks about instructional line item, which is due to reclassification and open positions. 

Strong balance sheet 15 million in total assets. 

MA discusses project cost savings, in supplies, elementary, high school, this is due to buying in bulk and not individual due to COVID. Custodial, and telephone, Trinet, computer support, elementary dues and fees buckets will see savings. scholar transportation is based with DOE schedule so it is hard to project this cost on a year by year basis. field trips will see a cost savings due to not spending enough in the beginning of the year and marketing will see cost savings since we only plan to market once we are expanding. 

Increased expenditures include insurance, utilities which are part of inflation. Bank fees increased but we moved money so we do not see this cost again. We replaced copier and added a new lease. Accounting services have increased. Substitute teachers budget increased this year due to increasing sick time. Parking and staff appreciation increased with inflation. 

No overage projected in bottom line budget. Project savings $486K projected increases and $513k. Projections in savings are conservative. AB asks that we will not run on a deficit and MA agrees. MR mentions that the largest number is for the substitute teaching which we will be working on to make it less instead of budgeting to make it more the following year. 

EC reflects in the past years and focusing on balancing goals as a board member and committee member. She is excited to see a week to week breakdown on how the scholars are testing on SAT prep. One of per personal goals is to learn how to fundraise, she believes only a community can do this together. 

MR mentions We continuously demonstrate intellectual excellence. Our progress towards goals, in the different state testing for K-8 and high school testing in 9-12. Staff attendance numbers, have some improvements that need to be made. Scholar attendance experiences substantial growth in middle school but continues to be a struggle in HS. The board self assessment is on track to exceed their goals. Board structure in the 4 and 5 level. Board composition, spaces of differentiation. MR expresses his appreciation to the board for their governance. Board recruitment, has not been a focus since we do not have board member turnover. MR mentions that CB is still working on refining the process. JB wants to mention a tool that we can use for the pipeline recruitment process. Committees can bring in non board members to give insight into a committee. MR feels we have improved in our Board committee goals and accountability. Wants to ensure all committees are also doing this as well. MR believes all board members are engaged and committed to succeed, and wants this to build accountability. Finances are healthy and MR thanks 4th sector for their continued service. MR wants to work on development and work with all board members individuality to help them grow and succeed. MR feels academic oversight is positive, and is pleased with how involved everyone is in this space. MR mentioned the importance of having a strong governance. MR believes we are advancing in the overall summary of assessment. AB mentions our audits have come back with positive reviews. JB wants to point out that the names of the categories might be unclear. 

MR reviews intent to return which is a process that begins with a survey followed up with communication to those that are interested in different positions and creating offer letters. k-12 teachers 2 will not return, 1 K-12 leader is undecided. 

Expansion efforts we are still in talks with two locations, one is further along in negotiation. We are hoping to be locked in by May. 

Fundraising, grants, annual events and opportunistic fundraising. MR is in talks with Robinhood and Bloomberg. Would like to hold annual events where the board members can also contribute with their network. Encourages members to think of their network and the different connections they can bring to Nuasin. Congrats to Ellen for fundraising. MR mentions a 100K fundraising goal for a golf tournament. EC mentions she may have a resource that can help kick this off. MR responds that we will reach out. MR presents a timeline on how to execute the golfing event. CB asks if Charter school growth fund is from the Department of education, MR responds it is. AB would like to know if we can build a tracker to see how we are progressing. MR responds the strategic focus on how we are pursuing each opportunity.

KD mentions the importance of recognizing scholars with club phoenix. This builds a buy in for the scholars to become invested in high GPA's and work value. Club houses are a resource to building our community. Academic goals remain the same. Focused on taking lessons in teams and bringing it down to each scholar. Mapping out multiple strategies on different stories to support and coach students. This will enable deeper thinking. K-2 action plan in revising scope and data driven instruction. Scholars are being tracked to ensure they are meeting their targets. Action plans include creating assessments throughout all grades. ELA mastery update, feeling confident with growth and ELA state testing. Royalty theme for mastery and scholar has an opportunity to become a monarch to motivate them to perform better. More focused on individualized goals. less quantitative more on a qualitative goal. Individual students are succeeding in personal goals and growing exponentially. 

AB mentions the importance of testing, and being intentional about the groups they lead and tiered assignments. This allows the scholars to work towards learning targets. Testing to see that scholars are able to apply what they learn to exams. Focused on growing the whole child by involving scholars in restorative conversations. Providing incentives to reward scholars for meeting goals. Goals for this year is a 90% regents pass rate, 100% graduation rate, 100% acceptance rate in at least three 4 year colleges. AB mentions events that are build around college readiness, testing, SAT prep, trips to colleges. EC asks about SAT prep and how often are they being administered? AB responds we are incorporating these on a weekly basis to ensure the scholars are continuously developing. MR mentions that we are still in the process of refining our relationship and partnership with our vendor and working to create what is the best model. EC asks if the vendor will identify what to measure and what to report? MR mentions that we have our own process and are working with our partner to see what best aligns with our ideas and their models to create sustainability.  

MA mentions we trending to be on target with enrollment numbers. We have dipped slightly in enrollment applications since last year. Marketing will be taking place to bring this number up. We are planning to keep moving forward in keeping our numbers healthy. There are 10 new positions. We have hired 3 new hires. Reminders, Board meeting is in person as of now. We will be sending July '23 Board Retreat Survey to ensure we can obtain the most attendance. 

EC mentions that Principals have discussed Mastery in length. 

AK mentioned meeting with Chocolate, an organization in fundraising. Would like us to collaborate with them and is cultivating a relationship with them. 

CB mentioned updating the Board Matrix and wants feedback and edits from certain members to present to everyone. A survey to share with everyone will be ready soon. 

EC mentioned this was combined with the reflection. 

There are no comments.

AB mentions April and May are big budget months and to ensure everyone is educated and ready to vote on the budget in May.