Welcome and Call to Order

The meeting will be called to the order, beginning with the pledge of allegiance.

Approval of Agenda

So that there is agreement between board members on the agenda, and the amount of time spent on the meeting, the board shall vote to approve an agenda for the meeting. To the best of its ability, it will follow that agenda, and allow for the chair to move the board through the agenda as specified.

Approval of Minutes

Approval of Minutes from the April 28, 2018 Board Meeting

Annual Operating Budget for 2018 - 2019

Discussion and review of Annual Operating Budget for 2018 - 2019

Executive Session

Executive Session was not held as there were no Personnel, Litigation, or Real Estate matters

Finance Review

Review Cash flow YTD Summary

Review Risks

Review Strategy Questions

Review Budget Needs and Monthly Expenses

Discuss Budget Processes

Review Strategies for a Sustainable Budget

Review Our Plan to Show Confidence for Lenders and Grantors

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@Charlene Ellis lead the discussion on financial review.  The main focus was identifying needs  v. wants. @Deana Holiday Ingraham suggests to create an unpadded needs budget, while @Eboni Chillis felt it was important to keep padding in.  Charlene volunteered to go to auction to get school furniture for savings. @Tanina Packer brought up fundraising options.  Nina asked for us to piece out our short term start-up costs so that she could begin asking for donations (architect, furniture, IT, curriculum, SIS, refrigerator & ice machine, church task list, playground equipment, street sign, copier).  Nina and Charlene both noted the start-up costs.  Charlene also expressed the importance of looking at spending historically (what the $110k was spent on) as well as future needs to put together the most accurate budget.  In the end it was determined that there is a $200k gap that needs to be filled.  

Nina also provided a potential funding source from another local lender.  They are able to provide a quote within 3-5 days and funding within 30.

Deana said that there was no need to approve a budget last week if cashflow is not truly an issue. She felt cashflow was not truly an issue since the SLAM Foundation will not decide until after the meeting once they know what the $90k  will be spent on.  Ana Martinez from Academica did ask for direction from the Board as to they would like her to do to rectify the $5k cashflow deficit. 

The SLAM foundation as requested to meet with the Board in order to go over the terms of the grant. The Board will decide on dates via e-mail for the special meeting.  

When funding for marketing efforts was discussed, Deana stressed immediate focus on conversion instead of marketing efforts.

Employee Benefits

Discussion and review of ADP Employee Benefits options

@Deana Holiday Ingraham reminds the board that they approved to use ADP but never decided what benefits that will be offered.Danny, from Academica, provided information on what is typically offered by our schools. @Eboni Chillis asked how long ago this conversation took place about the options. The options were officially sent approximately a week prior to the meeting but were presented to the entire board in the board meeting packets

Deana reiterated that that she is not making a decision on her own without recommendation from Academica and approval from Board.

@Travis Stroud felt there should have been recommendations that accompanied the options that were sent.  @Charlene Ellis backed up this request. Danny recommended 100% coverage for single employee and is better than some of the options provided at other Academica supported schools. Danny confirms that other options would be more expensive. Knowing that and the financial state of the school, Charlene concluded that there is really no other decision to make than to choose the 100% single coverage option.

Facilities Update

The Special Use Permit Application is on the June 4, 2018 Atlanta City Council Agenda with recommendation for approval. Once approved we will need to obtain a Certificate of Occupancy.

Email from Paul Mussman shared with the Board regarding additional cost and services required to obtain a Certificate of Occupancy (COO). @Deana Holiday Ingraham shared that she reached out to Daniel and they looked into the possibility of using another vendor in light of the concern as to whether there is a commitment to timely obtaining the COO given the tone of the email from Paul Mussman. @Daniel McKayhan indicated that given where we are, we should remain with the existing architect with a clear expectation and requirement of a commitment to timely obtain the COO. @Charlene Ellis shared that she agrees that it is important to require a commitment to timely obtain the COO.  Daniel will e-mail Danny, from Academica, the amendment.

Announcements and Adjournment

Cascade Skating event on May 29, 2018.

Dr. White announced that he is speaking at New Grant Chapel AME Church on Sunday, May 27, 2018 at the 10:30am service. @Charlene Ellis asked if we can personally call the families that have confirmed so they can bring their enrollment packets.

Dr. White wants to give clarification on how they will receive transcripts (2 ways).  

@Tanina Packer said they are going to complete a Lyft and Uber account.  We will ask folks to donate credits to make sure that happens. Dr. White will send out a request for a donation.  Nina asks what the minimum.  

Dr. White asks if he should continue to get bids or if he's still on hold as told at last week's meeting. He is told to continue to get bids but not pull trigger.

@Tanina Packer reminds us about decision to open Citizens Trust account for the purpose of fundraising account. 

Nina motions 

Ashleigh second

The Meeting was Adjourned

The meeting adjourned at approximately 7:56pm