There was no public comment.

Matt Brown announced that the LACOE Staff has recommended a grant of the elementary's appeal. He thanked the team and the board for their support during the process and reviewed the public hearing and the capacity interview. He explained that LACOE still has to vote but it is likely the board will follow their staff's recommendation. He explained to the board that staff is already working to address some of the concerns that were raised and working proactively to make sure the relationship gets off on the right foot. Board Member Maye asked about the turnaround and Matt explained it was a short turnaround but required by statute. Board Member Lobdell asked about the final vote and commended the team on the progress.

Richard McNeel gave the financial report. He reviewed the key financial indicators for each entity. At the middle school, current assets are 2.78 times current liabilities, enrollment is below budget ad expenses are higher. The school has 228 days cash on hand. The elementary has positive financial indicators, the high school has savings overall due to one position not filled and has 287 days cash on hand. The central office has savings from salaries and benefits. Rich explained he will be going into more detail at future board meetings and giving financial reports on the subsidiaries that carry the bond debt. All financial details, reports, check register are attached in the board meeting materials.

Matt Brown explained new requirements and changes in STRs, the California school pension fund. He explained that STRs was requiring an update to the Articles of Incorporation of the Non-Profit, and if TEACH decides not to make the update, STRs will potentially kick faculty and staff out of future STRs participation. Matt explained that there are many unknown factors about whether or not STRs will take action, but faculty and staff's current contributions will be preserved. He explained how STRs works.  Matt told the board that he was giving the staff a survey assess their values and understanding of the pension, retirement, and social security. He explained that teachers would pay into social security if they no longer paid into STRs and that TEACH could potentially contribute to a 403(b), unmatched as another retirement benefit. Board Member Guardado expressed that more experienced teachers will likely value the pension more than new teachers, and was glad that Matt was getting input from everyone. The results of the survey will be discussed at the next board meeting.

There was no additional board or public comment.