Board Meeting Minutes – 11.16.22

Lake Country Classical Academy Board Meeting  – November 16, 2022 – 6PM

Open Meeting: 

Call to Order:

• Board President Kristina Vourax called the meeting to order at 6:02 PM. All Board members were present – Dan Fuhrman (sickness) and Tom Gehl (out of town) participated via phone link.

Approval of Agenda:

• Tim Peterson moved approval of the meeting agenda – motion passed.

Citizen’s Forum:

• There were no requests to speak.

Consent Agenda:

• Brian Hastings moved approval of the minutes from the October 19 Board meeting. 
• The motion passed.  

A.)        Discussion Items:

1. Leadership Report:
   • Head Principal Margaret Daigneau presented her report and a copy is attached to the minutes.
   • Highlights included update on enrollment (501 actual and a wait list of 212), and a summary of her recent visit to Hillsdale.
2. Authorizer Report:
   • Kristina Vourax explained the work being done to submit LCCA’s charter transfer application for the University of Wisconsin System Office of Educational Opportunity, which will be submitted next week.
   • We anticipate a response by end of the calendar year.

B.)        Action Items:

1. Budget Reconciliation Report:
   • At the October Board meeting, the budget was approved contingent upon the preparation and submittal of a Reconciliation Report.
   • School Administration submitted this report to the Board and it was reviewed and vetted in the Finance Committee meeting of November 14.
   • The Finance Committee expressed satisfaction with the Report, some highlights of which are below
     • $100,000 for the establishment and funding of a 401-K retirement plan for LCCA staff.
   • • $60,000 for additional (over last year) staff for Special Education.
     • $90,000 increase for Cesa 5, implementation of Skyward software, and the annual financial audit. 
     • $24,500 for increase for facility supplies, plumbing work, HVAC, snow plowing, pest control, etc.
     • The “contingency” was moved into the category of purchased services.  
   • Tim Peterson moved approval of the Reconciliation Report – motion passed. 
   • Dan Fuhrman commented on the need or an updated 3-Year Plan.

2. Revised Admissions and Enrollment Policy:

• Principal Margaret Daigneau presented the revised policy, the purpose of which was to clarify issues surrounding sibling preference for new enrollment.
• Board member Branigan questioned whether the policy should specify siblings “in good standing”. Margaret expressed concern as to whether or not DPI would allow such language, and Board member Tom Gehl expressed the same concern, and indicated the Policy committee would seek clarification on this. 
• Tim Peterson moved approval of revised Policy – motion passed. 

C.)        Treasurer’s Report

• Treasurer Brian Hastings presented
• He indicated that Waukesha State Bank remains ready to grant a $400,000 loan upon approval of a new charter, and that while things would be tight from a cash perspective until the receipt of our next DPI funding in early December, that revised cash projections indicate operations of the school will be okay.   
• The loan would be to underwrite the installation of the mobile classroom units at the UEB (LCCA East).

D.)        Committee Reports:

1. Finance:
   • Committee chair, Brian Hastings presented
   • The committee is working with investment bankers and will build a decision matrix to determine who we will want to work with to take us to market for a potential bond offering.
   • Brian expressed the need to work towards better liquidity and a stronger cash reserve in order to support a successful offering.
   • Also stressed the need to demonstrate sufficient operating strength to demonstrate the school can handle the debt of a bond offering.

2. Facilities:
   • Committee chair, Dan Fuhrman presented
   • Indicated the current work of the committee is to support the efforts of Peter Knapp (LCCA Facilities Manager) and to prepare for a bond offering.
     
3. Fund Raising and Communications:
   • Committee chair, Kristina Vourax presented
   • Reported on various TLC fund-raising efforts that have raised approximately $6,300 (from a combination of Spirit Wear sales, Fall Fest, and Restaurant Nights), which will reimburse the school for the cost of the new Raptor security system and costs associated with the Christmas choral/band/orchestra performances.
   • Update on the 2023 Liberty Gala: the gala planning committee chair, Marlo McCormick, provided a planning update and the need for more volunteers, especially in the areas of procurement and event day.
   • The Annual Fund Drive, “LCCA Giving Day,” will begin on Tues., Nov. 29, with a week-long marketing campaign engaging LCCA families, past donors, and the community at large, culminating with “LCCA Giving Day (#LCCAgrateful)” on Tues., Dec. 6. This year’s Annual Fund Drive goal is to raise $150K for LCCA’s operational fund. 
     
4. Policy and Curriculum Committee:
   • Tom Gehl explained that this Committee had not yet met.
   • Mentioned the addition of Kristen Franke as a parent member, and Associate Principal Nicholis Wagner as the Administrative representative to the Committee. 

E.) President’s Report:

• Kristina Vourax indicated there was nothing to report beyond what was covered in the meeting.

F.) Adjournment:

• Tim Peterson moved to adjourn the meeting – motion passed.
• Meeting was adjourned at 7:17 PM.

Attachments: