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06-07-12 BOT MinWESTLAKE ACADEMY BOARD OF TRUSTEES WORKSHOP June 7, 2012 PRESENT: President Wheat, Trustees: Clif Cox, Carol Langdon, David Levitan and Rick Rennhack. Michael Barrett arrived at 10:10 a.m. ABSENT: OTHERS PRESENT: Superintendent Tom Brymer, Board Secretary Kelly Edwards, Assistant to the Superintendent Amanda DeGan, Primary Principal Rod Harding, Secondary Principal Dr. Clint Calzini, Administrative Coordinator Ben Nibarger, Finance Assistant Jaymi Ford, Human Resources and Administrative Services Director Todd Wood, Facilities and Recreation Director Troy Meyer, Director of Communications & Community Affairs Ginger Awtry. Workshop Session President Wheat called the workshop to order at 9:06 a.m. Superintendent Brymer began the meeting with a presentation and overview of the proposed budget. Principal Harding, Principal Calzini, and Administrative Coordinator Nibarger answered questions and provided additional information. Discussion ensued regarding the following: Enrollment Information - number of sections in G5 and G6 BOT Minutes 06/07/12 Page 1 of 3 Revenue and Expenditures - establishing a contingency fund or endowment instead of using the fund balance - the amount of State funding received per student - revenue amounts, percentage of families that donated to Blacksmith - the increase in the facility maintenance cost - a funding source for students that could not financially sit for the IB Diploma exams Financial Policies - transferring of funds to cover the direct and indirect costs to the Town - financial policies change regarding the direct and indirect costs - the five (5) year financial forecast as presented Ideas Considered: - Establish a contingency fund balance or endowment - Begin moving monies in excess of the 45 days operating cost into the contingency or endowment fund - Adding an `All -fund' summary page to the budget document - Determine the net numbers spent per student in the surrounding ISDs; same or similar to monies spend on Academy students - Obtain a funding analysis from Texas Charter Schools Association displaying the reduction in funding - Provide a trend analysis showing a breakdown of contributions to the Blacksmith campaign - Add information showing any additional grant based funding above and beyond what is contributed by the Westlake Academy Foundation and Blacksmith campaign - Provide an analysis showing the increase of facility maintenance (new buildings etc.) - Track the number of families that donate to other Affiliate organizations, such as HOC and WAAC Direction: - Complete the transfer of direct and indirect costs for Fiscal Year 2011 -2012 Create language in the financial policies addressing the operating deficit in Fiscal Year 2015 -2016 Revisit the option to increase the student enrollment Show the effect of transferring the direct and indirect cost back to the Town budget BOT Minutes 06/07/12 Page 2 of 3 Strategic Planning Administrative Coordinator Nibarger provided a presentation and overview of the proposed revisions to the current Strategic Plan. Discussion ensued regardinci the following: - The self- assessment process - How the measures correlate back to the plan - How and when additional measures would be added - The visual representation of the dashboard The ranking measurement Follow -up information: - Show the measurement- correlation to the dashboard on the Strategy Map - Change the header to show the percentage accomplished by the due date - Adding the IB World Average Direction: None President Wheat adjourned the workshop at 2:27 p.m. APPROVED BY THE BOARD OF TRUSTEES ON AUGUST 13, 2012. ATTEST: Kelly dwards, oard Secretary Z2, J Laura Wheat, Board President BoT Minutes 06/07/12 Page 3 of 3