October 2024 Meeting Agenda and Minutes
The Academy
Board of Directors
Board Meeting
Monday, October 28, 2024
5:30 pm
Agenda
I. Open Meeting
The Academy’s mission is to help all students grow into college ready, exemplary citizens by combining academic mastery with personal empowerment to drive lifelong success. We serve our full community by intentionally developing a school culture that embraces diversity, equity, and inclusion. With this in mind, the Board of Directors welcomes all members of our community to this meeting and invites each person to begin our time together in whatever way will help ground you for thoughtful and productive discussion - a few deep breaths, a prayer, a moment to organize your thoughts, or whatever meets your needs.
II. Consent Agenda
a. Approve Agenda
b. Approval of September 30, 2024, minutes
III. Public Comment
The chairperson will recognize anyone who signs the request form before the meeting time. Public comment and input shall be limited to fifteen minutes total, ten minutes per topic, and 2 minutes per speaker. Neither Board members nor Academy staff is obligated to respond to comments or input. The Board will provide written responses as deemed appropriate.
IV. Presentation and Discussion
a. Sunflower Bank Financing Proposal – Expectation: The Academy’s Financial Advisor and Owner’s Representative will provide a final overview of the proposed financing package with Sunflower Bank.
V. Executive Summary
a. Vote on Resolution 2024-10-28-A: Authorization of Plan of Finance - Expectation: The Board will vote to approve the resolution regarding financing for the Facilities Master Plan.
b. Vote on Resolution 2024-10-28-B: Authorization of Construction Contract - Expectation: The Board will vote to approve the construction contract regarding the Facilities Master Plan.
VI. Reports from Directors, Principals, and Committees
a. Principal Reports - Expectation: Principals will share first quarter updates on progress with their Annual Work Plans.
b. Chief Academic Officer Report - Expectation: The CAO will update the Board on progress toward instructional and cultural strategic priorities.
c. Executive Director Report – Expectation: The ED will update the Board on progress toward financial and operational strategic priorities.
d. Committee Reports – Expectation: Committee Chairs will update the Board on progress with each committee.
i. Finance – See Executive Director’s report.
ii. SACademic – See meeting minutes.
iii. PTO – See meeting minutes.
VII. Executive Session C.R.S. §24-6-402(4) – Expectation: As needed, the Board may call an executive session for one of the specific topics identified below via a 2/3 majority.
i. Discussions regarding buying or selling property;
ii. Conferences with an attorney to receive legal advice;
iii. Matters required to be kept confidential by state or federal law (e.g., student academic records);
iv. Security arrangements or investigations;
v. Determining contract negotiation strategies;
vi. Personnel matters;
vii. Consideration of documents protected from disclosure under the Open Records Act; or
viii. Discussion of individual students where public discussion would adversely affect the student involved.
VIII. Board Meeting Self-Scoring – Expectation: The board will self-score their performance for the meeting according to preset criteria.
|
Scoring Rubric |
|
|---|---|
|
1 |
Unsatisfactory |
|
2 |
Satisfactory, looking for significant improvement |
|
3 |
Satisfactory, improving but still below expectations |
|
4 |
Efficient meeting, meets expectations |
___/4
IX. Adjourn Meeting
Board Meeting Minutes
Monday, October 28, 2024
Board Members Present: Also Present:
Sarah Drewlow Chairperson Brent Reckman Executive Director
Dan Klenjoski Treasurer Sarah Gramarossa Chief Academic Officer
Kristen Cofrades Board Member Andrea Foust Director of Finance
Kevin Sanchez Board Member Susan Wagar Director of Operations
Autumn Coffee Secretary Stacy McCleskey Exec. Admin. Manager
Amy McDuffee Vice Chairperson Jen Halford
Larissa Fransua Board Member Paul Jasin-online Financial Advisor
Dustin Sparks Attorney
Hester Parrot Bond Council
Kurt Connolly Anser Advisory
Suzie Galbraith K-2 Principal
Katy Laun 3-5 Principal
Roxanne Ellsworth Middle School Principal
Stephanie Mann High School Principal
Minutes of the regular board meeting of The Academy held at 11800 Lowell Blvd, Westminster, CO 80031 in Adams County on October 28, 2024.
I. Open Meeting
A quorum being present, Mrs. Drewlow called the meeting to order at 5:33 pm.
II. Consent Agenda
a. Mr. Sanchez moved to approve the September 30, 2024, minutes. Seconded by Ms. Fransua.
Discussion: None
Ayes: Mrs. Drewlow, Mrs. Cofrades, Mrs. Coffee, Mrs. McDuffee, Mr. Klenjoski,
Nays: None
III. Public Comment
There was no public comment this month.
IV. Presentation and Discussion
a. Sunflower Bank Financing Proposal by Paul Jasin
i. The final interest rate of 6.12% was locked in on Friday, October 25, 2024 for $14.5 million. The loan is amortized over 25 years with 2 years of interest only payments.
ii. The loan closing is scheduled for November 14, 2024.
iii. Loan payments will begin in December but the loan begins to accrue interest on the day of closing.
iv. Loan funds can be invested at a yield less than 6.12% to help close the gap on when the loan begins to accrue interest and when we begin to use the funds.
b. Anser Advisory Presentation by Kurt Conolly
i. The reason we want to close soon is to have secure funds on hand.
1. Various school bonds may be approved through this year’s election and construction costs and accessibility will go up and be difficult to obtain. In the 12 months following the passage of similar ballot measures, construction costs rose 17%.
2. We have bills to pay now; i.e. architect plans and permits.
ii. JHL (contractor) had finalized the GMP (guaranteed maximum price).
1. Hard costs: $10.45 million
2. Soft costs: $1.894 million
3. Just in case: $1.1 million
4. All monies must be spent within 3 years on Capital Expenditure
V. Executive Summary
a. Vote on Resolution 2024-10-28-A: Authorization of Plan of Finance -
Mrs. Drewlow made a motion to approve Resolution 2024-10-28-A: Authorization of Plan of Finance. Mr. Sanchez seconded the motion.
Discussion: None
Ayes: Mrs. Cofrades, Mrs. McDuffee, Mrs. Coffee, Mr. Klenjoski, Ms. Fransua
Nays: None
b. Vote on Resolution 2024-10-28-B: Authorization of Construction Contract - Mrs. Drewlow made a motion to approve Resolution 2024-10-28-B: Authorization of Construction Contract. Mr. Klenjoski seconded the motion.
Discussion: None
Ayes: Mrs. Cofrades, Mrs. McDuffee, Mrs. Coffee, Mr. Sanchez, Ms. Fransua
Nays: None
VI. Reports from Directors, Principals and Committees
a. Principal Reports - Each level principal presented their first quarter updates on progress with their Annual Work Plans.
b. Chief Academic Officer Report –
i. As of October 23, 2024, attendance was at 93% which is up from 91% this time last year.
ii. The current efforts to increase the attendance average are to send letters to families, create support plans, have attendance incentives, and include communication in school wide newsletters.
iii. A K-12 attendance team was implemented and meets biweekly to discuss initiative, process and norms across levels.
c. Executive Director Report
i. Niche.com is an external measure used to rate The Academy with Adams 12 schools. We have an overall B+ standing; 5 out of 97 for elementary schools, 3 out of 56 middle schools and 3 out of 30 high schools.
d. Committee Reports
i. Finance
1. Final October count enrollment is 1887 students. This is 9 more than initial project projection
2. Reviewed annual audit.
ii. SACademic
1. Minutes will be amended to show those in attendance
2. Ideas were discussed to increase attendance at February student-led conferences
iii. PTO – See meeting minutes.
VII. Board Meeting Self-Scoring Board Self-Scoring – Today’s meeting was both efficient and met expectations, so the score is 4.
VIII. Adjourn Meeting– Mrs. Drewlow adjourned the meeting at 7:49 pm.