Off-Site Board Meeting Minutes – 1.7.23
Lake Country Classical Academy Off-Site Board Meeting Minutes
January 7, 2023 – 9 AM
I. Call to Order:
- Board President Kristina Vourax called the meeting to order at 9:13 AM. All members of the Board and Administrative leadership team were present.
II. Approval of Agenda:
- Tim Peterson moved approval of the meeting agenda – motion passed.
III. Citizen’s Forum:
- There were no attendees or requests to speak
A. Discussion Items:
- Identification of Expected Outcomes of Meeting:
- Attendees took some time to identify desired outcomes of the meeting, which were recorded.
- Revised 3-Year Forecast/Programing Review:
- Principal Margaret Daigneau presented a three-year forecast of enrollment, revenue, costs, and staffing. Her projections can be seen in the attached. Presentation was followed by questions and discussions.
- There was general affirmation from the board, and agreement that assumptions made with respect to future costs and staffing were appropriate and reasonable.
- Closed Session:
- Tom Gehl moved that the board enter Closed Session under State Statute 19.85 (1) (e) for the purpose of: “Deliberating or negotiating the purchasing of public properties, the investing of public funds, or conducting other specified public business, whenever competitive or bargaining reasons require a closed session.”
Return to Open Session:
- Bond Financing Review:
- Brian Hastings presented an overview of factors, requirements, and all relevant information relevant to the securing of a bond issue for the financing of a one-location school for LCCA’s K-12 offering.
- Discussion included 5-year enrollment projections, number of sections, etc.
- The need for a capital campaign was again identified and discussed somewhere in the $20 – 25M range.
- The objective is to have this single location facility ready by August of 2025, for the opening of the 2025-26 LCCA School Year.
- Timelines to achieve this were discussed, along with a brainstorming session on what is required for a significant fund-raising endeavor.
- Objective would be to launch the campaign sometime in Q2 of Calendar 2023.
- Brian Hastings moved adjournment – Motion passed.
- Meeting was adjourned at 4:20 PM