Seven Oaks board meeting, October 26, 2017
*Concern that school grade may go down next school year if they are not graded on the "Growth" standard
* Title I is up and running with 2 teachers in class & after school tutoring available
* Will be using Power School Portal through the Barney School Initiative
*Newer faculty will be going through RIGGS training @ Hillsdale
* They applied for & received $10,000 library grant
*Searching for p/t office help/aid
*Purchased used table for the cafeteria
*Shipp & a few other people will be traveling to CO, AZ, & TX to observe other charter schools: Ridgeview Classical (CO), Great Hearts Network (AZ), & Responsive Ed Network (TX)
*Bryan Anderson financial advisor was in attendance. His concerns: 1. Enrollment is a concern/27 under projection (223 @ end of Sept) 2. They have been receiving funding since July on estimated enrollment. He believes they need to increase enrollment to remain financially viable.
* They hope to access the Federal Charter School Start-Up Fund, an additional $200,000-$300,000 this year
*Continues to discuss seeking additional sources of revenue: renting out unused portions of the facility
*They had quite a lot of renovations/repair expenses
* Next year they will have to start paying back their $2 million 1% loan
*They are seeking additional grants through: Smithville Charitable Foundation, Lowes, & as mentioned above the Federal Charter School Start-Up Fund. Also, a possible Endowment (didn't discuss source).
*They agreed that Shipp will sign a Line of Credit for $7810 with Duke Energy
*Seeking patron ads on Master's Report
*Intend to aggressively recruit Stinesville pupils
Next Meeting Nov 16
*Concern that school grade may go down next school year if they are not graded on the "Growth" standard
* Title I is up and running with 2 teachers in class & after school tutoring available
* Will be using Power School Portal through the Barney School Initiative
*Newer faculty will be going through RIGGS training @ Hillsdale
* They applied for & received $10,000 library grant
*Searching for p/t office help/aid
*Purchased used table for the cafeteria
*Shipp & a few other people will be traveling to CO, AZ, & TX to observe other charter schools: Ridgeview Classical (CO), Great Hearts Network (AZ), & Responsive Ed Network (TX)
*Bryan Anderson financial advisor was in attendance. His concerns: 1. Enrollment is a concern/27 under projection (223 @ end of Sept) 2. They have been receiving funding since July on estimated enrollment. He believes they need to increase enrollment to remain financially viable.
* They hope to access the Federal Charter School Start-Up Fund, an additional $200,000-$300,000 this year
*Continues to discuss seeking additional sources of revenue: renting out unused portions of the facility
*They had quite a lot of renovations/repair expenses
* Next year they will have to start paying back their $2 million 1% loan
*They are seeking additional grants through: Smithville Charitable Foundation, Lowes, & as mentioned above the Federal Charter School Start-Up Fund. Also, a possible Endowment (didn't discuss source).
*They agreed that Shipp will sign a Line of Credit for $7810 with Duke Energy
*Seeking patron ads on Master's Report
*Intend to aggressively recruit Stinesville pupils
Next Meeting Nov 16