Dayspring Academy Board Agenda January 30, 2017 ~ 6:00pm 8911 Timber Oaks Avenue

Port Richey, FL 34668 ** New Elementary Building **

1. Invocation 2. Roll Call-Proof of a Quorum 3. Proof of Notification – Governance website notification 4. Approval of Previous Meeting Minutes – October 24, 2016 5. Approval of Agenda 6. Old Business Update

A. Elementary Construction Final report. 7. New Business

A. Administration Report B. Monthly Financials C. Mid-Year January Budget Revisions D. Debt Ratio discussion E. 5- Year loan renewal F. 2017-2018 Enrollment request G. 15 year Charter Renewal request H. 2016-2017 School Recognition I. 2017-2018 Teacher Retention/Certification program J. Out of Field Approval – Jennifer Bussell-Smith, ESE K. Student Attire Funds - School Character approval

8. Board Member Comments 9. Public Input

10. Adjournment: Next meeting – Monday, February 27, 2017

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Dayspring Academy Minutes 8911 Timber Oaks Dr. Port Richey, FL 34668

October 24th, 2016

1. Invocation: Given by Darren Curtis

2. Roll-Call-Proof of Quorum: Mike Ryan (Board Chair), Denise Doerrfeld (Board Secretary), Cade Coby (Board Member), Julie Rogers (Board Member), Eric Seltzer ( Board Member), Peter Boudreau (Board Member), Paul Manuel (Board Member), Brenda Garcia (ES Principal), Timothy Greenier (Asst. Secondary School Principal), and Suzanne Legg (CEO).

3. Proof of Notification: Dayspring Academy Web Site Governance Page

4. Approval of Previous Minutes: Julie Rogers made a motion to approve previous minutes of September

26th, 2016 and Eric Seltzer seconded the motion.

5. Approval of Agenda: Under “New Business” add a section “D” for parent Liaison. Julie Rogers made a motion to approve the agenda revision and Eric Seltzer seconded the motion. 7 in favor, 0 opposed. Passed.

6. Old Business Update:

A. New Construction Review -Mrs. Legg reported that the new construction cost not covered by the loan was roughly $115,000. We had $20,000 in upgraded technology. The auditor will address the financials for the new construction. We had our final walk through and the punch out list has been completed. Air Conditioning was an issue and is getting corrected. Updates will be provided at the next meeting.

7. New Business:

A. 2015-16 Audit Review - Independent Audit Report for June 30, 2016 presented by Steve Giarratano of King and Walker, CPA’s. Clean Findings. There was a Management Discussion Analysis done for the past year- current assets- There was an increase in capital assists due to construction. There was an increase in long term liability. There was an overall decrease in Net- $90,000 approximately. This includes depreciation of assists on the books of $120,000. Stay Source Revenue increased approximately $300,000. There was in increase in yearly-constructional expenditures of $250,000. Total net equity was $835, 000 for the end of the year. At the end of the year it was listed as “Construction in Progress.” In 2016-2017 it will show as “Building” under assets.” There was an “Internal Control Report” conducted that reviews the schools processes and policies and procedures. The auditor state that there are strong controls and good governance in place and did not have any findings in this area. The overall audit findings shows all looked well and were strong in all areas. The “Last Report Management Letter” looked for any prior audit findings of the schools financial conditions and there were none to report. The Form 990 has been completed and a draft was sent for approval and a signature by the Board Chair. Peter Boudreau did a preliminary review and he was comfortable with the audit.

B. Monthly Financials- September, 2016: Peter Boudreau reported for the month of September we had a loss of $60,000. The 4th column, July- Sept. YTD section, focuses on this. The monthly teacher supply-$1,100 plus computer hardware of $32,635 are the few items that stood out in the month of September. This shows that are in the positive. Cade Roby made a motion to approve the budget review and Eric Seltzer seconded the motion. 7 in favor, 0 opposed. Passed.

C. Administration Report: Elementary School -Mrs. Garcia: The laboratory is up and running with classes engaged with the iPads. In this classroom they can demonstrate collaborative- based learning. They have different seating and a setting where they can problem solve, work together, research and then present a solution together in that type of setting. This is in the main building of the Elementary School and you can stop by any time and check it out.

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C. Administration Report: Elementary School (cont.) There was an assembly on “diligence.” Students are taking ownership of materials, skits, etc. There were 420 learners in attendance. Odyssey of the Mind had their District meeting and that is going well. We had our community learning “Stellaluna” unit. We also had a bat presentation at the Elementary School. The children were really fascinated with this presentation. We have the wax museum this Friday, October 28. Extended School Day has started with the focus on Reading and Math. November 5th is our Fall Festival. November 17th is our annual Thanksgiving Feast and Turkey Trot. We are expecting roughly 1200 parents and Learners on this day. Secondary School - Mr. Greenier: Report Cards were just sent out. The “A” Learners lunch will be approximately in a week in a half- 42 students received all “A”s and 123 received A’s and B’s. We had our first PSAT’s administered. We had twenty -one 10th graders take this on campus. We had our first Walk to School” this year and it went very well. Spirit week was last week. It was a great turn out and a great way to see the students get really involved. We have our “Thanksgiving day of Services” coming up right before Thanksgiving. For this project, we have a groups of students going to nursing homes. They volunteer to help pack food and a group will go to the Angelus House as well. Fall Festival is on November 5th and the board was encouraged to come out and bring the family! This is from 12:00 pm- 3:00 pm and some of the activities include hayrides, bounce houses and tons of vendors. We are also working on the Winter Showcase Production. . Mrs. Legg -Gala 2016: The Roaring Twenties” Update: It was a beautiful night. Everyone had a lot of fun and there was a good turn-out. The Events Committee understand that having it on a Sunday and on a three- day weekend was a barrier. We will keep that in mind as we schedule for next year. The online bidding was new this year and we are asking for feedback on how everyone thought that had gone. We were $200 more this year than last years’ event. We raised over $45,000 from this amazing event. We have already booked for next year and set the date for Oct. 7, 2017. We are working on starting early to see about getting ticket items in earlier! One of the parents attending the board meeting suggested closing the online bidding the night before to those who didn’t attend the event. There were also suggestions between the board and parents that attended the event about possibly utilizing a different online app that may be easier and friendlier to use.

D. Parent Liaison – Statue requires Dayspring Academy to have a liaison to speak on behalf of the parents. Traditionally this has been the principal, but Darren Curtis has accepted this role. Peter Boudreau made a motion to approve this position and Cade Roby seconded that motion. 7 in favor, 0 opposed. Passed.

8. Board Member Comments: The board commented on the Gala as discussed in the Administration report, Section 7., Item C.

9. Public Input: There was no public comment

10. Adjournment. The next scheduled Board meeting will be January 30th, 2017. Julie Rogers made a motion to adjourn and Eric Seltzer seconded that motion. 7 approved, 0 opposed. Passed.

Denise Doerrfeld, Board Secretary ________________________________________ Mike Ryan, Board Chair ________________________________________

DAYSPRING ACADEMYJuly - December 2016 YTDRevised 2016-17 Budget

July-Dec 2016 Annual Budget Revised Budget

678 Students 684 Students

Income

0904-4000 Yearbook Sales 80.00 1,000.00 1,000.00

0905-4000 Yearbook Ad Sales 0.00 500.00 500.00

0906-4000Sch Picture Comm/Sls 1,590.48 2,000.00 2,000.00

0907-4000 Bookfair Sales 3,167.97 5,000.00 5,000.00

0909-4000 General Sales 10,604.00 26,000.00 30,000.00

0911- 4000Cls Fees(Fee Sup Prg) 185,945.66 550,000.00 500,000.00

0912-4000 Club Dues (Fee Supp) 6,139.85 20,000.00 25,000.00

0913-4000 Field Trips 36,429.47 110,000.00 110,000.00

0914-4000 Fund Raising 66,695.74 75,000.00 75,000.00

0915-4000 Supply Donation 1,990.00 30,000.00 30,000.00

0921-9700 Teacher Lead Funds 0.00 10,919.72 0.00

0922-4000 Donations 3,600.00 35,000.00 20,000.00

0923-4000 Interest Earned 22.52 100.00 100.00

0929-4000 Other Income (Funds from Building) 206,263.92 0.00 207,000.00

0929-4000 Other Income (Funds Internal clubs) 6,133.54 0.00 8,000.00

3200.Federal Grants 0.00 7,143.91 7,200.00

3300.State Sources 2,332,707.78 4,192,505.00 4,310,000.00

3397-8000 Capital Outlay 108,529.00 270,528.00 255,000.00

3400 Revenue from Local Sources 163,895.00 286,586.00 310,000.00

Total Income 3,133,794.93 5,622,282.63 5,895,800.00

Expense

0100 Payroll Salaries/Wages 1,591,623.45 3,415,000.00 3,500,000.00

0210-401K Retirement 42,677.50 80,000.00 80,000.00

0220-FICA Taxes 122,734.11 251,250.00 262,960.00

0230-Group Insurance 165,613.43 270,000.00 270,000.00

0240 - Worker's Compensation 14,074.00 40,000.00 28,000.00

0250-7900 Unemployment Comp 2,572.60 24,000.00 9,000.00

0250-9800 Unemployment (107.79) 0.00

0290-Othr Emp Benefits 0.00 500.00 0.00

0310-Prof & Tech Services 57,400.44 190,000.00 120,000.00

0320-7900 Ins & Bond Premium 44,796.99 90,000.00 82,000.00

0330-Travel 837.22 2,000.00 1,000.00

0350-Outside Repair & Maint 18,741.29 25,000.00 25,000.00

035X In-House Maint/Repairs 2,614.28 10,000.00 7,000.00

0360-Rentals/Leases 85,830.40 100,000.00 100,000.00

0370-Communications 16,297.32 25,000.00 18,000.00

0380-7900 Public Utilities 7,953.33 15,000.00 12,000.00

0390-Other Purchased Services 51,269.87 80,000.00 80,000.001

DAYSPRING ACADEMYJuly - December 2016 YTDRevised 2016-17 Budget

July-Dec 2016 Annual Budget Revised Budget

678 Students 684 Students

0393-9800 Promotions & PR 19,405.11 30,000.00 25,000.00

0395-9800 Field Trips 34,186.09 110,000.00 110,000.00

0410-7900 Natural Gas 0.00 100.00 100.00

0430-7900 Electric 39,860.71 75,000.00 65,000.00

0450-7800 Gasoline 0.00 1,000.00 250.00

0460-7800 Diesel Fuel 6,109.84 15,000.00 9,000.00

0510-9700 Teacher Clsrm Supply 11,309.76 10,919.72 11,309.76

0510-Supplies 42,174.76 50,000.00 42,000.00

0520-5000 Textbooks 33,101.99 65,000.00 40,000.00

0520-9800 Curriculum Internal 72.74 4,000.00 0.00

0530 Periodicals 324.54 1,000.00 500.00

0540-7800 Oil & Grease 797.45 1,000.00 1,500.00

0540-7900 Oil/Grease Plant 0.00 250.00 100.00

0550-Repair Parts 2,374.00 7,000.00 4,000.00

0560-7800 Tires & Tubes 1,279.53 2,000.00 2,000.00

0590-Other Materials & Supplies 46,824.03 30,000.00 50,000.00

0595-9800 Fundraiser Supplies 21,506.53 55,000.00 20,000.00

0596-9800 Bookfair Expense 3,167.54 3,500.00 3,500.00

0622 Audio Visual <750 0.00 250.00 250.00

0630-7400 Construc-Bldg/Fxd Eq 171,816.16 155,000.00 175,000.00

0641-FFE > 750 0.00 0.00 0.00

0642-FFE <750 29,653.05 21,250.00 35,000.00

0643-Comp Hardware >750 0.00 1,000.00 1,000.00

0644-Comp Hardware <750 87,917.20 150,000.00 140,000.00

0670-7400 Improvements Othr Bld 16,168.44 15,000.00

0680-7400 Remodel & Renovations 29,949.36 54,162.91 40,000.00

0691-Comp Software >750 7,964.45 10,000.00 12,000.00

0692-Comp Software <750 4,283.95 5,000.00 6,000.00

0710-7400 Redemption of Princ 38,041.84 45,000.00 113,000.00

0720-7400 Interest 59,877.55 62,000.00 131,000.00

0730-Dues & Fees (Activity fees + PHSC DE) 38,944.03 40,000.00 65,000.00

0790- Misc Expenses 0.00 100.00 100.00

Depreciation 0.00 0.00 179,000.00

Total Expenses 2,972,039.09 5,622,282.63 5,891,569.76

Net Income 161,755.84 0.00 4,230.24

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