No Public Comments

Ms. Thompson went over the Fiscal Report/ 2nd Interim report that will be submitted to LAUSD for March 1st, 2021.  She discussed a couple of highlights, nothing has really changed as far as finances from last month just to note that TEACH's SBA PPP loan was forgiven so that revenue is recognized now in your financial statements. All three schools are projecting a surplus of positive cash flow and a positive fund balance at the end of the year, all the schools are actually projected to exceed the debt service reserve requirement of 1.20 and the 45-day cash on hand.  TEACH's bond reporting, all three schools are required to meet those standards, and just by the schools meeting those reserve requirements we are actually exceeding the LAUSD requirements as far as our fund balance and our cash on hand. We are still going to be experiencing some funding deferrals we talked about that pretty much all year the amounts are significant for TEACH three schools, about 1 million for the Academy and 1.4 billion for the high school about 726,000 for the elementary school. Although these deferrals are funds that will be received in the fiscal year 21-22 and has been excluded from our cash forecast we are projecting the school will be fully operational there's not going to be any deficit on our cash and we will be able to maintain. 

Mr. Willimas informed the board members of TEACH in Person Learning Update. He informed the members that it was announced that elementary schools were allowed to reopen. The way that the climate is going and looks like all three schools will be allowed to reopen at some point, I put together something of a fact sheet/ notes that he went over.  The immediate plan is for TEACH Prep to reopen with a pending date. He brought up a concern about the staff having access to vaccinations. Mr. Dragon voiced some concerns about following the narratives of CCSA and taken the initiative in opening based on the requirements. Very concerned about the students being not served. 

Mr. Brown informed the board members that 700 forms are going to be due April 1. All board members are asked to fill them out electronically. They should receive an email with the link to gain access to fill out. 

Mr. Brown updated the board that TEACH Las Vegas charter application was approved by the SPCSA board of directors on February 28th.  Both boards (TEACH Inc. and TEACH Las Vegas) will each independently vote on the CMO agreement next month.  Board is excited about moving forward with TEACH Las Vegas.

Mr. Brown updated the board on ongoing due diligence on merging or acquiring Public Policy Charter School.  Public Policy will have difficulty staying open as a stand alone charter school due to its facility and enrollment situation.  TEACH could provide services in this area via a service agreement, while the two organizations work towards a possible future acquisition.  Public Policy will need to find a long term facility solution, which will require a material revision to the charter.  Any merger/acquisition will also require a material revision.  Makes sense to do these are the same time if possible.  Board asked Mr. Brown to present a draft agreement at the next board meeting.  

Ms. Torres informed the board member an update on her enrollment by grade levels, student attendance, enrollment and turnover goals, staffing, and professional development. 

Dr. Woodley informed the board members of TEACH Tech enrollment and attendance, NWEA Data, Technology updated, professional development, parent engagement, student life support  programs, and LAUSD oversight visit. 

Mrs. Rhee informed the board members TEACH Prep enrollment and attendance, WASC update, and  NWEA & Dibels data.

Shawnna informed the board that the next scheduled meeting is March 17th 2021. 

No board comments