Board Meeting Minutes – 02.02.22

Lake Country Classical Academy Regular Board Meeting

February 2, 2022, 7 p.m. LCCA West Campus, 818 W. Wisconsin Ave, Oconomowoc

MINUTES

President Kristina Vourax called the meeting to order at 7:04 PM.

All Board members were present with the exception of Ali Schweitzer; Taryn Whipple attended via phone connection.

• Motion made by Tim Peterson to approve the Agenda – Motion was approved
• Motion made by Tim Peterson to approve Minutes of January Meeting – Motion Approved
• There were no comments offered in the Citizen’s Forum

Leadership Report:

• Head Principal Margaret Daigneau presented the Leadership Report, a copy of which will be included.
• Topics included enrollment, facility issues, her trip to Hillsdale the week of February 7, etc.

Insurance Coverage Update:

• Presented by Tim Peterson
• Liability Coverage renewed
• Added coverage for sexual misconduct
• Cost of workers’ compensation insurance is high
• An umbrella policy has been added with a ceiling of $1,000,000
• The annual cost of the policy will be addressed by quarterly payments, beginning in February of 2022

Summary of Strategic Planning Meeting of January 8, 2022:

• Dan Fuhrman gave a summary of topics discussed, including 5-Year Vision of Board, short term requirements (1-2 years), and operating principles governing roles and relationships of the Board and Head Principal.

Student Handbook:

• Margaret Daigneau presented a comprehensive document encompassing all manner of operations, rules, and life at LCCA.
• Motion made by Tom Gehl to approve the Handbook as presented, with the understanding that there would be minor modifications submitted, such changes to be cosmetic and not substantive.
• Additionally, it was noted that this Handbook will be a living document going forward, and subject to change as appropriate.

Accounting Policy and Procedures Manual (revised):

Treasurer’s Report:

• Brian Hastings presented this report
• Cash on hand as of January was $120,000
• Next payment from DPI scheduled for February 15
• Our operating deficit for the 2021-22 year continues to be reduced, but does stand at $160,000.
• Fund raising will be needed to close this gap.

Finance and Facilities Committee Report:

• The committee continues to look at a variety of options and alternatives to gain space for next year.
• Dan Fuhrman shared an update on the W.S. Knight Foundation’s grant of $500,000 in matching funds to supplement our own fund-raising efforts.
• This will be split into two grants of equal $250,000 value.
• The first half will run from 12/21/21 – 8/30/22, and is unrestricted. This means we can use it for whatever purposes we deem necessary.
• The second half will run from 9/1/22 – 8/31/23, and is to be focused on capital needs.
• Again – this grant is targeted for use as matching funds to our own successes in this area.
• The next meeting of this committee is February 16, 2022.

Fund Raising and Communications Committee:

• Presented by Kristina Vourax – an update given on various efforts
• Ball at Bristlecone beginning at 6 PM on Saturday, February 5, 2022 – she shared speakers for the event.
• Work is beginning on the second annual Liberty Gala scheduled for July 16, 2022.

Board President Report:

• Kristina expressed gratitude to the William S. Knight Foundation for its generous support, and to the Leadership Team for continued performance in this challenging year.

Meeting Adjournment: