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Encore JR/SR High School

Special Meeting: Encore Board of Directors

Published on March 25, 2022 at 12:32 PM PDT

Date and Time

Sunday March 27, 2022 at 6:30 PM PDT

The Order of Business may be changed without notice: Notice is hereby given that the order of consideration of matters on this agenda may be changed without prior notice. Reasonable Limitations May be placed on public testimony: The Governing Board’s presiding officer reserves the right to impose reasonable time limits on public testimony to ensure that the agenda is completed. For any person requiring a translator, this time will be doubled to account for translation time. Reasonable Accommodation for any individual with a Disability: Pursuant to the Rehabilitation Act of 1973, any individual with a disability who requires reasonable accommodation to attend or to participate in this meeting of the Governing board may request assistance by contacting Sabrina Bow at (760) 956-3800. Public Documents relating to Open Session Agenda items are available for review by the public at the Reception Desk at Encore Education Corporation’s Executive office or on the internet at www.encorehighschool.com. For more information concerning this agenda, please contact Sabrina Bow at (760) 956-3800.

 

This meeting is being held virtually pursuant to Government Code Section 54953 (e). The public can access this meeting via Zoom as follows:

 

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Meeting ID: 587 149 4303
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Meeting ID: 587 149 4303
Passcode: 936591
Find your local number: https://zoom.us/u/aFccAHayh

Members of the public who wish to comment during the Board meeting may use the

“raise hand” tool on the Zoom platform. Members of the public calling in will be given the

opportunity to address the Board during the meeting. Individual comments will be limited to three (3) minutes. If an interpreter is needed for comments, they will be translated to

English and the time limit shall be six (6) minutes. The Board may limit the total time for

public comment to a reasonable time. The Board reserves the right to mute or remove a

participant from the meeting if the participant unreasonably disrupts the Board meeting.

Agenda

Section Number Topic Number Details Purpose Presenter Time
I. Opening Items 6:30 PM
  A. Call the Meeting to Order   Rob Gabler, Board President 1 m
  B. Record Attendance   Rob Gabler, Board President 1 m
  C. Invitation for public to address the Board Discuss Rob Gabler 1 m
   

All public comment, both on agenda items and non-agenda items within the jurisdiction of the Board, should be provided during the agenda item titled, “invitation for public to address the Board.”  Members of the public who wish to comment during the Board meeting may use the “raise hand” tool on the Zoom platform. Members of the public calling in will be given the opportunity to address the Board during the meeting. Individual comments will be limited to three (3) minutes per agenda item and one three (3) minute period to address an item not on the agenda. If an interpreter is needed for comments, they will be translated to English and the time limit shall be six (6) minutes per person per agenda item. The Board limits the total time for public comment to thirty minutes, and may extend this time at its sole discretion. The Board reserves the right to mute or remove a participant from the meeting if the participant unreasonably disrupts the Board meeting.

  
II. Finance 6:33 PM
  A. Promissory Note with Delta Managed Solutions (DMS) Vote Sabrina Bow 10 m
   

Staff recommends the Board approve the attached promissory note from Delta Managed Solutions (DMS).  The terms of the loan are as follows:

 

  • Loan amount of $200,000
  • Zero percent (0%) interest
  • Loan term of 21 days 
    • Note date: March 28, 2022
    • Maturity date: April 18, 2022

The loan proceeds provide Encore maximum flexibility to best manage its weekly cash flow during the month of April 2022 given the estimated timing of when certain federal/state revenues will be received. The loan proceeds will be received and repaid in full during the 21-day loan period. For the Board's reference, Encore's Debt Management Policy (page 15 of Fiscal Procedures Manual) is as follows:


1. The CEO is responsible for administering and maintaining the School’s current obligations under direction of the Board. DMS will meet with the CEO and Board, as appropriate, regarding the status of the School’s existing debt and to make specific recommendations.


2. No new debt shall be incurred without approval of the Board.


3. All approved annual budgets shall include timely repayment of all outstanding debt, or include a reasonable repayment plan for such debt if timely repayment is not possible.


4. Prior to incurring any new borrowing, DMS shall prepare a financial analysis showing the effect of the borrowing on current and future operations. The School may not borrow if a reasonable financial analysis cannot show timely repayment of all obligations including the planned borrowing.


5. The School will seek financing options that are at the lowest interest cost and in the best interests of the School.


6. The School will take all practical precautions and proactive measures to avoid borrowing decisions that can negatively impact current or future operations.


7. The School will determine the term, rates, and covenants that will best fit within the overall existing debt structure at the time any new debt is incurred.


8. The School will explore, assess risk, and implement innovative structuring ideas when they are consistent with the above goals.

 

  
     
     
     
III. Closing Items 6:43 PM
  A. Adjourn Meeting Vote Rob Gabler 1 m

A copy of the agenda will be posted at least 24 hours before such meeting. A copy of the written materials which will be submitted to the Board of Encore Junior and Senior High School for the Arts is available along with this agenda following the posting of the agenda by emailing Sabrina Bow at sbow@encorehighschool.com.

Requests for disability-related modifications or accommodations to participate in this public meeting shall be made 24 hours prior to the meeting by calling (760) 956-2632 or emailing Joseph Thibodeaux at jthibodeaux@encorehighschool.com. All efforts will be made for reasonable accommodations. The agenda and public documents can be modified upon request as required by Section 202 of the Americans with Disabilities Act.