Polaris Board Meeting Minutes 08.07.12
Polaris Charter Academy
Board Meeting Minutes
August 7, 2012
FY2013 Budget Vote
Board Members in Attendance: Darren Snyder (Chair), Sarah Walker, Mick Domagala, Uday Khedkar, Michelle Navarre, Susan Kajiwara-ansai, Greg Borkowski, Helen Wolfe, Kameron Matthews
School Leaders: Carol Clavadetscher, Carol Clavadetscher
Uday called the meeting to order at 4:05pm.
The focus of the conference call was to formalize the vote on the FY13 budget. Carol reviewed the original budget assumptions and presented the changes to the original review in May as follows:
Assumptions
Funding
« Per pupil funding assumed at Gates Compact rate $6,070 (3% increase)
« Loss of Small Schools funding due to enrollment > 350 students
« NCLB/Title I and SGSA have been communicated by CPS: $61,600 favorable to original assumption
Enrollment
« Maintain 25 students per classroom
« Budget assumption = 96% capacity or 384 children
« Internal goal is always 100%; additional 16 students = $97,000
« FY2012 reality = 330 students at end of year (94%); fluctuations throughout year, but met 96% for H1 and H2
« Current enrollment 388, gap driven by 4th grade
« CPS strike impact uncertain – no impact incorporated into budget
Fundraising – Total $260,000 (vs. current year $170,000)
« Budgeted amount required to have + cash flow, + net income
« Historically have budgeted amount + cash flow ($190,000 required for FY13)
« Change in approach driven by CPS scoring mechanism
« Identified opportunities
« Crown – $50,000 to $100,000
« Kaplan – $25,000
« Perkins – $15,000 to $30,000
« Board – $50,000
Salary and Benefits
« 2% increase communicated to teachers
« 100% of offers have been accepted
« Social Security funding by CPS specified for full time administrative positions
« Reduced benefit from original assumption from $38,000 to $19,000
« Positive health care bid
« Decrease of 1.7% vs. 5% original assumption; assumed flat for budgeting purposes
Staff
« Teacher salaries came in positive to budget due to experience levels below 8 year average
« New positions in budget
« Administration – Development Manager (not yet hired; in progress)
« Auxiliary – 2 FT Teaching Assistants to support middle school structure (shift from PT) – fulfilled
« Explore – 1 additional FT position (shift from PT) – not yet changed; potential upside
« New Leaders staff to provide additional support to Head of School/Director of Curriculum (cost neutral)
« John Finlay joined Polaris on 8.6.12
Curriculum and Professional Development
« Maintain full funding of Expeditionary Learning curriculum
« Increase investment in EL professional development/contract
« $16,000 in FY12 to $25,000 in FY13
Polaris has received MINIMAL information from CPS regarding FY13 Budget
« No information regarding facility fees (assumed 5% increase)
« Reorganization of building maintenance and staff
« Probable impact to FY13 budget, however, not enough information at this time
« “Soft” communication of per pupil, through INCS; recommendation to use Gates Compact
« No knowledge of FY13 CPS teacher salaries
Carol discussed the new requirement placed by CPS in the renewal agreement of having $75,000 in escrow to accommodate for legal expenses in the event of school closing. She shared that no specifics have been communicated in regards to the execution of the escrow account.
Darren moved to approve the budget; Uday seconded his motion. The board voted 9 to 0 in favor of the proposed budget.
Michelle reminded the board the first day of school is August 13th, with the first community circle on the 17th. Darren reminded board members of the August 28th board meeting.
Michelle shared that she has been selected as one of 15 Education Champion Fellows and will be spending 1 week in September in NYC with education policy leaders. The board congratulated her success!
Uday moved to close the meeting at 4:35pm; Michelle seconded his motion.