Laureate Academy Charter School Founding Board Meeting Agenda October 26, 6:30PM Location: th St. Harvey, LA 70058

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1 Laureate Academy Charter School Founding Board Meeting Agenda October 26, 6:30PM Location: th St. Harvey, LA Agenda Item Lead Materials Roll Call Chair Approval of Minutes VOTE Chair July Minutes Head of School Report - Staff Update - Enrollment Update - Calendar Reminders - Facility - Other Finance Committee Report - Financial Update Governance Committee Report - Prospective Board Members - Strategic Plan Development Committee Report - Celebrations o Fall Fest - Annual Board member giving - Donor Invitations to School Shout Outs Adjournment Head of School Treasurer Chair Chair Head of School Chair September Financial Reports 1

2 Laureate Academy Charter School Board Meeting Minutes September 28, 2016 I. Call to order Bill Aaron, Chair called to order the regular meeting of the Laureate Academy School Board Directors at 6:39 p.m. on September 28, 2016 at Laureate Academy School. Quorum established. II. Roll call Kandace Hamilton, Secretary conducted a roll call. The following persons were present: Bill Aaron; David Huete; and Brittany Ankersen Others Present: Claire Heckerman, Head of School (HOS); and Nick Aucoin (prospective board member) Board Members not present: Michelle Beaty, Pat LeBlanc, and Allison Plaisance III. Approval of minutes from last meeting Kandace Hamilton, Secretary moved to adopt minutes from the last meeting. Brittany A. seconded this motion. There was no opposition. The motion carried and the minutes were unanimously approved. IV. Committee Reports a) HOS 1. Staff Fully hired Staff went through professional development with BES fellow/founder of Purpose Prep in Nashville Cost for the training = $ for two days HOS says it was much needed and worth the expense HOS would like to pay for her to return to the school again for more PD. 2. Scholars 188 scholars enrolled and there are 17 on waitlist. 2

3 Budgeted for 162 scholars about $8,800.00/per scholar MFP = roughly 160K surplus. 3. Academics State will take a count of all of the scholars enrolled as of October 1, 2016 and pay the MFP for those scholars. There will be a second count on February 1, HOS presented data representing the results of the scholars academic diagnostic assessment thus far Laureate use STEP assessment more rigorous than assessment utilized last year Big takeaways: 60% of scholars are below grade level in reading, 25% are on grade level, and 14% are above grade level HOS encouraged board to review academic data and ask questions Data will be posted to website 4. New Agenda ITEM: LA Compliance Questionnaire David H. made motion to amend the agenda to add discussion and approval of the LA Compliance Question Brittany A. seconded the motion. No opposition. Motion carried unanimously. Discussion and approval of the signing the LA Compliance Questionnaire added to the agenda. HOS and Chair explained that questionnaire needed to be signed for compliance. Kandace H. moved to approve the LA Compliance Questionnaire and authorize its signing by the appropriate board members. Brittany A. seconded the motion. No opposition. Motion carried unanimously. 5. Calendar: October 22-Fall Fest b) FINANCE 1. Allison P., HOS, and Nick A. (prospective board member) = finance committee met earlier this month. 3

4 120 days Cash on hand; need to have at least 30 days COH and below a.9 debt to cash ration and Laureate has a.2, so school is doing well October 1 is when head count (true up) taken by the state. Will receive funds for 188 scholars 2. Brittany A. made motion to approve financials. David H. seconded the motion. No opposition. Motion carried and September financial statements approved. c) GOVERNANCE 1. Governance committee did not meet this month 2. Prospective Board members Nick Aucoin present and is a prospect board member. He has been working with Allison P. on the finance committee Nick A. visited the school and is really impressed with structure and enthusiasm of the scholars and staff Brief introductions were made. Nick A. was excused from the meeting while the board voted on his membership David H. moved to approve Nick Aucoin s membership to the Laureate Board of Directors. Brittany A. seconded the motion. No opposition. Motion unanimously carried. Nick A. s membership to Board approved. Welcome Nick! Bill A. motioned to approve the governance committee report. Brittany A. seconded. No opposition. Report unanimously approved. 3. Strategic Planning David distributed draft strategic plan document. David raised three question: 1. Whether he had adequately incorporated board s feedback? 2. Whether board members agreed with key issues outlined and 3. What are the next steps? 4

5 Board discussed draft strategic plan, particularly issues related to SPED and on-boarding David will circulate board materials from other organizations that he has found useful d) DEVELOPMENT e) Shout outs V. Adjournment 1. Development committee did not meet this month. HOS reiterated annual board giving = $ /yr. Letter ready to send out for letter campaign, but it needs to be signed. HOS encouraged board members to visit the school and invite others to visit the school. 1. Board for all of their hard work on strategic plan thus far 2. Nick A. for the energy he exhibited during his visit to Laureate Bill Aaron, Chair adjourned the meeting at 7:28 p.m. Minutes submitted by: Kandace Hamilton 5

6 Updated October 23, 2016 Staff Update - Currently we have 17/17 staff hired. Ms. Octavia Jones hired as Assistant Teacher to replace teacher who resigned in August. Ms. Askew will continue to coach part-time hiring plan overview o New open positions: 2 3 rd grade lead teachers 2 3 rd grade co-teachers 1 special education teacher (or 2 interventionists) 1 enrichment teacher (ideally music/art) 1 Director of Curriculum & Instruction or Dean of Culture Enrollment Update - Currently we have 185 scholars total. - We have budgeted for 162 scholars application window: January 9 th March 9 th, 2017 Calendar Update - October 31- November 4: Spirit Week - November 3-5: Report Card pick-up for Trimester 1 - November 5 10:00AM: Academic Achievement Committee meeting - November 7: No School for Scholars Professional Development - November 8: No School Election Day Facility Update Other - Met with Vanguard regarding modulars - JPPSS options are not viable 1 is being demolished; 1 is $5.5 million to renovate - Pledge of Allegiance Discussion - New website coming soon! - Staff trip to Purpose Prep in Nashville was a huge success! - STEP testing: Round 2 finishing this week data will be analyzed by Achievement Committee and presented next meeting - Fall Fest was a success: Raised over $2,000 6

7 Year 2, Month 3 THE HIGHLIGHTS Fall Fest 2016 was a success! Staff Professional Development at Purpose Prep Academy in Nashville, TN. First graders discussing the text during Guided Reading. Scholars starting DEAR (Drop Everything And Read) time to increase reading minutes! Our first Math Workshop for families was productive and helped parents support their scholars learning at home. 7

8 Laureate Academy Financial/Operational Metrics As of September 30, /30/2016 Standard Quick Ratio (should be >1) Unaudited Benchmark Current Assets 452,691 Current Liabilities 52, > 1.1 Debt to Asset Ratio (Lower the better) Total Liabilities 87,915 Total Assets 527, < 0.9 Cash Ratio (Higher the better) Cash + Marketable Securities 440,130 Current Liabilities 52, >1.5 Days Cash on Hand Cash + Marketable Securities 440,130 Operating Expenses 1,664,240 # Days in a Year (365) 365 Daily Operating Expenses 4,560 Days Cash on Hand 97 > 30 Days Enrollment Target Actual 184 Legend At or Above Standard/Target Approaching Standard/Target Below Standard/Target 8

9 Laureate Academy 2016/17 Budget to Actual Results Through September 30, 2016 Board Approved Budget Actual Results Variance Sept 2016 Sept 2016 Sept 2016 REVENUE 1510 Interest on Investments - Bank Interest Contributions and Donations Contributions and Donations:Cont & Donations - Restricted Contributions and Donations:Cont & Donations - Unrestricted 325, , Contributions and Donations:In-Kind Contribution - - TOTAL CONTRIBUTIONS AND DONATIONS 325, , REVENUE FROM LOCAL SOURCES Revenue from Local Sources - Insurance Proceeds from Losses Books and Supplies Sold Medicaid Reimbursement Erate Misc Local Income Misc Local Income:Misc Local Income Student Fees - Other Consession Sales 109 (109) Misc Local Income:Misc Local Income - Other Income - TOTAL REVENUE FROM LOCAL SOURCES (109) 3100 REVENUE FROM STATE SOURCES 3110 REVENUE FROM STATE SOURCES:State Pub Sch Fund (State MFP) 357, ,694 34, Other Restricted Revenue - TOTAL REVENUE FROM STATE SOURCES 357, ,694 34, REVENUE FROM FEDERAL SOURCES REVENUE FROM FEDERAL SOURCES:School Food Service Other Special Education REVENUE FROM FEDERAL SOURCES:Title I - to LEA REVENUE FROM FEDERAL SOURCES:Title II - Improving Teacher Quality - TOTAL REVENUE FROM FEDERAL SOURCES - - TOTAL REVENUE 682, ,086 34, EXPENSES EXPENSES 100 -WAGES EXPENSES 100 -WAGES:Principal Wages - Officials/Administrators/Managers 21,300 21,300 - EXPENSES 100 -WAGES:Dean of Culture Wages - Officials/Admin/Managers 17,500 14,000 3,500 EXPENSES 100 -WAGES:Business Services - Office Admin Wages - Officials/Administrators/Managers 11,500 15,000 (3,500) EXPENSES 100 -WAGES:Salaries - Teachers - Regular education K 33,750 33,750 (0) EXPENSES 100 -WAGES:Salaries - Teachers - Regular education 1st -8th 73,958 77,274 (3,316) EXPENSES 100 -WAGES:Salaries - Teachers - SPED Teacher 9,656 9, EXPENSES 100 -WAGES:Co-curricular Wages 8,958 8, EXPENSES 100 -WAGES:Salaries - Para-professionals (Aides) - Regular education K EXPENSES 100 -WAGES:Salaries - Para-professionals (Aides) - Regular education 1st -8th EXPENSES 100 -WAGES:Salaries - Para-professionals (Aides) - SPED Teacher - - EXPENSES 100 -WAGES TOTAL 176, ,314 (2,691) - EXPENSES 200-BENEFITS & TAXES EXPENSES 200-BENEFITS & TAXES:Teacher Health Insurance - K 5,000 6,043 (1,043) EXPENSES 200-BENEFITS & TAXES:Teacher Health Insurance - 1st to 8th 10,000 6,621 3, EXPENSES 200-BENEFITS & TAXES:Teacher Health Insurance - SPED 1, EXPENSES 200-BENEFITS & TAXES: Health Insurance - SPED 1,250 (147) 1, EXPENSES 200-BENEFITS & TAXES:Principal Health Insurance - School Admin. 1,250 1, EXPENSES 200-BENEFITS & TAXES:Dean of Culture Health Insurance - School Admin. 1, EXPENSES 200-BENEFITS & TAXES:Office Admin Health Insurance 1,250 1,360 (110) SUBTOTAL 200 BENEFITS & TAXES - HEALTH 21,250 15,871 5, EXPENSES 200-BENEFITS & TAXES:Social Security - K 2,511 2, EXPENSES 200-BENEFITS & TAXES:Social Security - 1st to 8th 5,503 4, EXPENSES 200-BENEFITS & TAXES:Social Security SPED EXPENSES 200-BENEFITS & TAXES:Social Security - Co-curricular EXPENSES 200-BENEFITS & TAXES:Principal Social Security - School Admin. 1,321 1, EXPENSES 200-BENEFITS & TAXES:Dean of Culture Social Security - School Admin. 1, EXPENSES 200-BENEFITS & TAXES:Office Admin Social Security - Other Business Svcs (205) SUBTOTAL 200 BENEFITS & TAXES - SOCIAL SECURITY 12,517 10,896 1,621 9

10 Laureate Academy 2016/17 Budget to Actual Results Through September 30, 2016 Board Approved Budget Actual Results Variance Sept 2016 Sept 2016 Sept EXPENSES 200-BENEFITS & TAXES:K Medicare EXPENSES 200-BENEFITS & TAXES:1st to 8th Medicare 1,287 1, EXPENSES 200-BENEFITS & TAXES:Medicare Expense - SPED EXPENSES 200-BENEFITS & TAXES:Medicare Expense - Cocurricular EXPENSES 200-BENEFITS & TAXES:Principal Medicare - School Admin (198) EXPENSES 200-BENEFITS & TAXES:Dean of Culture Medicare - School Admin EXPENSES 200-BENEFITS & TAXES:Office Admin Medicare - Other Business Services (48) SUBTOTAL 200 BENEFITS & TAXES - MEDICARE 2,927 2, EXPENSES 200-BENEFITS & TAXES:K Retirement 1, EXPENSES 200-BENEFITS & TAXES:1st to 8th Retirement 2, , EXPENSES 200-BENEFITS & TAXES:SPED Retirement EXPENSES 200-BENEFITS & TAXES:Co-curricular Retirement EXPENSES 200-BENEFITS & TAXES:Principal Retirement - School Admin ,059 (420) EXPENSES 200-BENEFITS & TAXES:Dean of Culture Retirement - School Admin EXPENSES 200-BENEFITS & TAXES:Office Admin Retirement (105) SUBTOTAL 200 BENEFITS & TAXES - RETIREMENT 6,057 2,898 3, EXPENSES 200-BENEFITS & TAXES:Instruction-State Unemployment Tax 910 1,672 (763) EXPENSES 200-BENEFITS & TAXES:Admin-State Unemployment Tax - General Administration SUBTOTAL 200 BENEFITS & TAXES - STATE UNEMPLOYMENT 1,211 1,785 (574) - EXPENSES 200-BENEFITS & TAXES:Instruction-Worker's Comp Insurance 3,440 7,647 (4,208) EXPENSES 200-BENEFITS & TAXES:Admin - Worker's Comp Insurance - General Administration 1,141 1,434 (292) SUBTOTAL 200 BENEFITS & TAXES - WORKERS COMP 4,581 9,081 (4,500) TOTAL BENEFITS AND TAXES 48,543 43,079 5,464 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES: Fingerprinting and Background checks 1, EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES: Substitute Teachers 1,425-1,425 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES: SPED Services 6,640 2,208 4,433 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Professional Dev-Instr Staff 10,880 17,078 (6,198) EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Legal Services 3,680 1,469 2,211 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Financial Consulting 13,000 11,590 1,410 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Payroll Processing (78) EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Audit Fees 12,500 8,500 4,000 EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES: Nursing Services 1, EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Prof Svcs - Other - Support Services 1,500 1,762 (262) EXPENSES 300 -PROFESSIONAL & TECHNICAL SERVICES:Professional Dev-Non-Instruction 1,250 10,261 (9,011) EXPENSES 300 -PROF & TECHNICAL SERVICES TOTAL 54,102 54,826 (724) EXPENSES 400 -PROPERTY SERVICES EXPENSES 400 -PROPERTY SERVICES:Water/Sewer - Buildings EXPENSES 400 -PROPERTY SERVICES:Disposal - Buildings (184) EXPENSES 400 -PROPERTY SERVICES:Custodial - Buildings 5,679 5,775 (96) EXPENSES 400 -PROPERTY SERVICES:Lawn Care - Grounds 900 1,500 (600) EXPENSES 400 -PROPERTY SERVICES:Repairs and Maint - Buildings 9,545 9,667 (122) EXPENSES 400 -PROPERTY SERVICES:Repairs & Maint - Grounds EXPENSES 400 -PROPERTY SERVICES:Rent 3,645 3,776 (131) EXPENSES 400 -PROPERTY SERVICES:Rental of Equip/Vehicles 4,035 3, EXPENSES 400 -PROPERTY SERVICES:Security 3, , EXPENSES 400 -PROPERTY SERVICES: Other Building Services (Pest, etc.) 1,200-1,200 EXPENSES 400 -PROPERTY SERVICES TOTAL 29,835 26,165 3,671 EXPENSES 500 -OTHER SERVICES EXPENSES 500 -OTHER SERVICES:Student Transport - from LEA - 10

11 Laureate Academy 2016/17 Budget to Actual Results Through September 30, 2016 Board Approved Budget Actual Results Variance Sept 2016 Sept 2016 Sept EXPENSES 500 -OTHER SERVICES:Student Transport- Bus Company 23,707 29,455 (5,748) EXPENSES 500 -OTHER SERVICES:Liability Insurance 2,910 5,568 (2,658) EXPENSES 500 -OTHER SERVICES:Property Insurance EXPENSES 500 -OTHER SERVICES:E&O Insurance EXPENSES 500 -OTHER SERVICES:Phone/Internet/Postage/Copying/Printing 6,376 1,023 5, EXPENSES 500 -OTHER SERVICES:Advertising - Admin 2,905 3,116 (211) EXPENSES 500 -OTHER SERVICES:Advertising - Web hosting (45) EXPENSES 500 -OTHER SERVICES:Advertising - Student Recruiting 1,584 1, EXPENSES 500 -OTHER SERVICES:Advertising-Personnel Recruiting 1,584-1, EXPENSES 500 -OTHER SERVICES:Travel Reimb - Academic - Reg EXPENSES 500 -OTHER SERVICES:Travel Reimb - Gen Admin EXPENSES 500 -OTHER SERVICES:Travel Reimb -Principal - (497) EXPENSES 500 -OTHER SERVICES:Travel Reimb - Non-Instr Prof Dev EXPENSES 500 -OTHER SERVICES TOTAL 40,558 40, EXPENSES 600 -SUPPLIES EXPENSES 600 -SUPPLIES:Materials & Supplies - Instr Gr K 5,740 2,872 2, EXPENSES 600 -SUPPLIES:Materials & Supplies - Instr Gr 1st - 8th 11,444 7,031 4, EXPENSES 600 -SUPPLIES:Materials & Supplies - Athletic - 1,693 (1,693) EXPENSES 600 -SUPPLIES:Materials & Supplies - After School EXPENSES 600 -SUPPLIES:Materials & Supplies - Summer School EXPENSES 600 -SUPPLIES:Materials & Supplies - Culture EXPENSES 600 -SUPPLIES:Materials & Supplies - Health Medical - 20 (20) EXPENSES 600 -SUPPLIES:Materials & Supplies - Prof Dev Instr 550 2,067 (1,517) EXPENSES 600 -SUPPLIES:Materials & Supplies - School Admin 2,550 6,627 (4,077) EXPENSES 600 -SUPPLIES:Materials & Supplies - Bldg Maint & Ops 125 1,120 (995) EXPENSES 600 -SUPPLIES:Materials & Supplies-Prof Dev Non-Instr EXPENSES 600 -SUPPLIES:Technology Supplies-Gr K 4,805 2,349 2, EXPENSES 600 -SUPPLIES:Technology Supplies-Gr 1st -8th 4,805 6,712 (1,907) EXPENSES 600 -SUPPLIES:Technology Supplies-School Admin 180 3,324 (3,144) EXPENSES 600 -SUPPLIES:Electricity 5,400 8,297 (2,897) EXPENSES 600 -SUPPLIES:Library Books 4,455 4, EXPENSES 600 -SUPPLIES:Textbooks - Reg K 10,930 1,824 9, EXPENSES 600 -SUPPLIES:Textbooks - Reg 1st to 8th 13,154 3,648 9, EXPENSES 600 -SUPPLIES:Textbooks - SPED EXPENSES 600 -SUPPLIES:Workbooks EXPENSES 600 -SUPPLIES:Periodicals - Instructional - Reg 1st to 8th EXPENSES 600 -SUPPLIES:Periodicals - Instructional - Reg K EXPENSES 600 -SUPPLIES:Periodicals - Instructional - SPED EXPENSES 600 -SUPPLIES:Periodicals - Admin - - EXPENSES 600 -SUPPLIES TOTAL 64,639 47,971 16,668 EXPENSES PROPERTY EXPENSES PROPERTY:Depreciation - K 1,479 2,241 (762) EXPENSES PROPERTY:Depreciation - 1st to 8th 3,004 2, EXPENSES PROPERTY TOTAL 4,483 4,482 1 EXPENSES 800-DUES & FEES EXPENSES 800-DUES & FEES:Dues and Fees - Academic - Reg EXPENSES 800-DUES & FEES:Dues and Fees - SPED EXPENSES 800-DUES & FEES:Dues and Fees - Admin EXPENSES 800-DUES & FEES:Bank Fees EXPENSES 800-DUES & FEES:MFP Admin Fee 7,143 7,834 (691) EXPENSES 800-DUES & FEES:Interest Expense - short term loans 2,018 2,094 (76) EXPENSES 800-DUES & FEES:Miscellaneous Expense - - EXPENSES 800-DUES & FEES TOTAL 10,020 10,575 (556) TOTAL EXPENSES 428, ,713 22,091 NET SURPLUS / (DEFICIT) 253, ,373 56,779 11