Board of Directors Meeting Minutes October 25, 2010

Board of Directors (BOD) Meeting Minutes
October 25, 2010

Board Members in Attendance:  Matt Parsons, Bob Young, Jennifer Crossett, Chuck Raisch, Ryan Blake, Bryon Farnsworth, Heather Day-Richter, Daniel Storch, Kim Churches, Colleen Hackley, Rebecca Hudson (via phone)

Board Members Absent:  None

Staff:  Nancy James, RB Fast, Greg Jaworowski

Guests:  Dave Andrews

 

  1. 1.    Welcome
    1. Parsons called the meeting to order at 6:12pm

 

  1. Parsons took attendance and established quorum. Approval of the September 27, 2010 board meeting minutes was set in motion by Parsons, all in favor (6), all opposed (0), abstain (5 – all new BOD members), absent (0) - the September 27, 2010 minutes were approved with one adjustment to the financial report – there was an inaccuracy in which depreciation was not counted in June and July equated to approximately 0.5% rather than 0.05% as originally stated in the minutes.

 

  1. BOD Member Agreements were reviewed and collected for all members – Confidentiality Agreement, Conflict of Interest Statement and Board Member Agreement.  Board members were reminded about the responsibilities of serving on a board.  One point to remember is that items will be discussed and members can have their own opinions but that the board members need to support the decisions of board outside of the committee.

 

  1. 2.    Officer Election
    1. Secretary – Ryan Blake was nominated by Parsons and seconded by Crossett, all in favor (11), all opposed (0), abstain (0), absent (0).  Ryan Blake has been elected as Secretary of the MAC BOD.

 

  1. 3.    Financials and Enrollment Report
    1. Farnsworth reviewed the September financials with the board.  Noted that MAC does accounting on an accrual basis and that tuition is collected in advance.  Also noted was that the September financials are a better reflection of MAC’s financial state vs the August numbers due to a number of reasons including:

                                          i.    School year starts in September and student counts are higher than in the summer

                                         ii.    Moving to Smart Tuition resulted in upfront costs to get each MAC family onto their payment system.  Going forward for new parents, those one time fees will be included in new enrollment charges.

Additional notes included:

                                          i.    There is a prorated budget for major fund raising that is solely based on the MAC Gala.

                                         ii.    Tuition is the main revenue for MAC.

                                        iii.    There is a need to build up cash reserves that put MAC in a better position for refinancing the building loans that mature in 2013.

                                        iv.    Budget planning starts in October.  MAC has outsourced some over functions (payroll and tuition) and is looking for other changes such as accounting and banking.

  1. RB Fast reviewed the September enrollment report.  MAC has switched to a new tuition system provider - Smart Tuition.  Smart Tuition has better reporting capabilities that MAC has ever had.  Internal Waiting List “Non-Viable” number was high due to the kids not yet being born.  Toddler communities will need new enrollments in Nov, Jan and Feb.  RB is diligently working to fill those slots.  Several viable candidates have tours and meetings the week of Oct 25.

 

  1. 4.    Executive Director (ED) Report
    1. Nancy James reviewed the ED Report.  Compliments were given to Shana doing a great job with book keeping and her duties as Admin Assistant.  Licensing Inspection/Health Inspection was conducted in October.  There were minor infractions (missing CPR card) and zero major infractions.  MAC is in compliance with all regulations.  The inspector was impressed with the size of MAC and how well the inspection went.  Hardship appeal will be made based on Montessori items.  Full report to be sent to BOD.  Other items:

                                          i.    External Audit being conducted.  More details to follow.

                                         ii.    Grand Peoples Day – need volunteers to assist with directing traffic.  First GPD so will be a learning experience.

                                        iii.    PMAC – Lauren Andrews will be the PMAC chair.

                                        iv.    Marketing event was held at a 5280 event.  Potential parents attended and also representatives from other schools.  New MAC marketing material was put together by RB for the event and will also be used for potential MAC families.

                                         v.    Parenting Safe Children workshop – approximately 40 parents attended.  Entire staff was also trained in September.  All staff members are now using the correct words in regard to body safety rules and are following the lessons learned in the workshop.

 

  1. 5.    2010/2011 Committee Structure and Reports
    1. Committee Participation is encouraged for all MAC BOD members.  Descriptions and goals for committees are the responsibility of the committee chair.  Review of descriptions and goals will be a BOD Retreat agenda.
    2. Committee List:

                                          i.    Executive Committee (President, VP, Treasurer, Secretary)

  1. Typically meet Tuesday before the board meeting.  Board members are welcome to attend.  Email the BOD President if you would like an item added to the agenda.

                                         ii.    Finance Committee (Chair: Farnsworth)

  1. Help ED with budget, review finances, review audit, participate with auditor, how the school is functioning on a financial basis.

                                        iii.    BOD Development – Chair:  Churches

  1. Recruiting, voting, etc.

                                        iv.    Fundraising – Chair:  Day-Richter

  1. Campaigns.  Ensure fundraising systems in place.  Training.  Fundraising.

                                         v.    Strategic Planning – Chair:  Storch

  1. Carve out time to think about 2013 – building, budget, etc. 

                                        vi.    Building Committee – Chair:  Young

  1. Building needs, etc.  Gather data about the building.  Provide day to day assistance for MAC ED/Staff.  Other decisions – solar on the roof.

                                       vii.    Gala Committee – Co-chaired by Hackley and Christina Montgomery

                                      viii.    PMAC – Non board committee chaired by Lauren Andrews, MAC Parent.  PMAC committee governed by MAC Staff (Nancy) but provides updates to BOD

 

  1. 6.    BOD Other Updates
    1. BOD Calendar has been updated.  To be posted on MAC BOD Calendar.  Details to follow.
    2. Fundraising: Day-Richter needs volunteers to help out on committee.  Open items for the committee:

                                          i.    Limited capabilities at MAC (no prior donor database, how to recognize donors).  eTapestry has been evaluated.

                                         ii.    Want to adjust MAC culture to a fundraising environment.  Want to give training on fundraising.  BOD training at retreat and ongoing to ensure BOD is up to date on fundraising.

                                        iii.    Questions that need to be answered on policies and procedures around fundraising.  One goal of the committee is to create a fund development plan – currently flows from strategic plan.

                                        iv.    Upcoming fundraising opportunity with Grand Parent’s Day (November 12, 2010).

                                         v.    Reviewed the CO Child Care Contribution Tax Credit.  Consult your tax advisor for additional details.  The contribution will be a general donation to MAC and not to an individual classroom.

                                        vi.    Board Challenge Grant – potential matching gift from the BOD based on donations from parents, friends and grand parents.

                                       vii.    MAC BOD Pledge Form – hope is to have 100% participation.  See form for details.  Program is a work in progress and is new this year.

                                      viii.    A recommendation was made by BOD members to have BOD members not take the work bond from MAC.

                                        ix.    Messaging on donation request will be crafted by the committee and will structure the message in a “polite” manner.

 

  1. 7.    Adjourn
    1. Parsons adjourned the meeting at 8:55 pm.