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All right. Thank you, everybody, for coming tonight to the Treeside Charter School Board meeting. Welcome.

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For roll call, Kimberly Pritchard is here. Jose Rivera. Megan Johnson for the school board, and then we have Ron Hubbard, Rachel Brunson, Virginia Wright, Clint Basinger, and Brandon Johnson.

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All right. Next on the agenda is time for public comment.

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comment? Is there anyone that would like to make public comment?

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Thank you. All right,

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next is our consent agenda. All

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right. My screens keep losing each other here. All

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right. Do we have a motion for the consent agenda?

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So, Jose, Megan, you have to say I make

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a motion to approve and you can say both dates and we can approve it all at once since it's

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on the consent agenda together.

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Go for it, Megan.

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I didn't hear you.

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What'd you say?

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I said, go for it, Megan.

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Is she frozen?

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Oh, there she is.

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Sorry, I'm just battling through tabs here.

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Okay, so, okay, I guess I'm gonna try to save this.

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Hopefully it's correct.

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I make a motion that we go over the consent agenda

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for June 2nd, 2026, and June 24th, 2026.

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So, the proper motion would be to accept it because we have already looked over it and then we can put it up for discussion if we need if we found something that we needed to fix.

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All right, so I make a motion that we accept they consent to genders for the 2020, sorry June 2nd, 26 and June 24, 26.

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Okay.

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All in favor?

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actually have to call for a second and it looks like Megan is connecting to audio so I think she's

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having a problem so we have to wait till she connect because she has to second.

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I like to actually

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make a comment if I can while we wait. So I've been looking at a lot of the tree side and we can go

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over this at a different meeting but the policies and procedures and things like that and there's a lot

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that needs to be updated and should be updated.

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And so I've been working on getting all those done.

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And then I'll present it to you guys once they're ready.

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So a lot of stuff that just needs to be updated.

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Yeah, we had a different.

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Yeah, we had a different focus.

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So yes, our focus now in this coming year besides getting the school

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built out is to review and update all our policies.

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and we'll tackle a few every meeting.

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I have also contacted Shannon Greer who does the training

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and she has offered her team to help join on some of our meetings

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and we'll spend like 15-20 minutes just getting us some general training

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as a board to help us out as well.

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And then they also have the training series.

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I believe it starts September, so make sure you sign up for that.

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So we can be better prepared for that.

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So thank you.

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That's great.

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Jose.

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Huh?

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I believe she emailed you in your J Rivera email.

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Yeah, your true side email.

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You should have an invitation there.

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Because I just talked to her yesterday and asked her to make sure to send that out again.

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All right.

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Megan, I don't know if you heard.

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So let's go ahead and start over.

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Where do you and I have a motion for the consent agenda?

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I make a motion that we accept the consent agenda for June 2nd, 2026, and June 24th, 2026.

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Oliver.

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Do I have a second?

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Actually, I got a call that I have to call for the favor.

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Are you okay?

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Megan, I need you to second the motion.

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All right, there's another admit against both seats then.

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Is it working for you now, Megan?

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Yeah, I don't know what's going on. I'm on my phone now my computer. Okay, you're on

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twice as shows, but it just I don't know if you heard. Okay, I don't know if you heard,

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but Jose put forth a motion to accept the consent agenda for the dates. Do I have a second?

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Yes. You have to say I second the motion. I second the motion. Awesome. All in favor?

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You

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have

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Did you aye, Jose?

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Yes, I did.

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Hi.

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Okay.

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Sorry, we have to have it very clear because as Virginia takes the note, she has to write down all of our votes.

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So, are there any dissents?

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All right.

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Any discussion?

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All right.

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Thank you. It passes unanimously.

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All right.

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Next on our agenda is our financial report.

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And Ron, I turn the time over to you for that please.

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Can

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everybody see my screen

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now? I can. Yes. Okay. And is it big enough?

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Thank you. Yes. Okay, so this is as of the end of July. Really, since we're a month in,

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there's nothing really big to report. Everything's looking good.

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I don't remember when our fiscal year runs, is it?

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It goes July 1 to June 30.

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Okay, thank you.

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So this is one month in, we're sitting at 8.3% of the way through the year as of the end of July.

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So, again, everything's looking good, looking at monthly revenue.

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again, nothing that's worrisome at this point, we got enrollment numbers today. And so all

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of our budget numbers and everything are based off of enrollment numbers, whether some of

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them are based off of last year, some of them are based off of October 1st and then a rolling

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average after and so especially at the beginning of the year we at least want our budget to be close

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to what we're sitting at so that we are pretty well in line with what we're expecting to see and so

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with the number we got from Rachel earlier today we're within eight students of that so we're feeling

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pretty good about the estimates at this point. And again, as things progress and change, it might,

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we'll make adjustments as needed, but at this point, we're looking pretty good.

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So, what was that number?

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So, I think the number we got today was 356 or 8 under what the forecast is.

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And like I said, we'll make adjustments the biggest thing is October 1st is the most

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important day.

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So really these are just good estimates at this point so we can start forecasting.

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When you say why because I don't know if our newer board members know why October 1st

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matter? It's just when the state has decided to focus for counting students.

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So our funding

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is based off of that number, right? Yeah, and like I said, some of the numbers are based

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off of October 1st and then a rolling average. After some of them are based off of last

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year, some are based off of like a rolling five year average. So all the numbers come from

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different places but the most important one for us right now is gonna be the

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October 1st number. Thank you.

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So all

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the red stuff don't worry about it yet. It just

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means we probably haven't taken any money in any of these categories yet. Overall we

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want to make sure that the major categories are green or in the case of

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federal funding.

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Yeah, you'll see a lot of red just because a lot of the federal funding is reimbursed state funding is the same way some of the state funding.

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We get lump sums throughout the year or one twelfth payments every month. So, as long as we're generally trending, we're okay. We're not worried about it.

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And, like I said, at the very beginning of the year, we're not expecting to see everything to line up perfectly.

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Looking at salaries, we're looking good.

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Really spending is looking good across the board. We don't have anywhere that we're really worried,

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we're not seeing anything that's really problematic that isn't normal this time of year.

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So across the board, I feel like we're doing good.

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Enrollment is where there are coffee machine issues.

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There's a red category on the coffee machine there.

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And some of that might be when we received bills, things like that.

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And so I'll dig into it more.

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But yeah, at this point, it's not something that we're really worried about.

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He's curled down a little bit.

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Yep.

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Where do you want me to go?

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negative 22%. Let's see.

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I was a coffee machine. Yes, 22.8. So yeah, we'll dig into it and see

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more what's going on there. It might be when we receive bills, things like that. And so we can

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and really the overall category is the most important part. But yeah, we do want to pay attention

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especially something like coffee machine.

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So, I think what happened there just to give some input on that is

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Les Olson did not give their bill for May and June until after July.

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And so, that was paid in July, even though it was from the May and June times

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when they serviced our coffee machine, if that makes sense.

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So, so rolled over into the next year.

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Yeah, that's something that I can make adjustments for.

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And all that to audience.

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And we needed to have, we needed to have them quickly for our, to get our year closed

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out so that we could give information to for our finances, for the loan.

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We needed them to quickly put together the year, the July 1st year.

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And so they just put it on the next year.

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Any other questions?

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That's all I have at this point.

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Thank you, Ron.

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I believe next on the agenda is the Director's report.

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That's right.

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Rachel, you're muted.

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Thank you.

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I just want to be able to share that from the beginning.

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Okay.

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Okay, and you guys see that?

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Our directors report.

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Can you see my screen share?

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Yes.

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Okay, it's a little easier than we do Google Meet's before.

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We're going to talk about current enrollment,

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current positions, administrative activities,

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administrative items, academic programs,

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additional items, our TSSC grant,

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and our positive behaviors plan.

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Looking at last year, at this point in time,

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we're at 358 students this year.

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We're at 356 students. We were at 362. We did lose a couple students. We're hoping we're going to be back up to 364 by October 1st. So it looks like most of our kindergarten or state, or they knew, I mean, too first grade because there's only a four drop. Is that mostly returning students or is that? No, actually, we got, we had quite a few students leave and we have about 114 new students this year.

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Yeah, so some of them left, you know, like I said, some people may not like the whole office building atmosphere, but we have a lot of new students that came in last year.

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We didn't really market because we are so busy putting together the building.

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And so this year, we did some marketing and we were like, wow, but we have 114 new students.

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a lot of new faces.

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So we have, most of those were families that had moved.

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Most of the people we left were families that had moved.

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And some of them were like, hey, we'll be back next year when you guys get a new building.

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The ones that didn't move far away.

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And the ones that were like, hey, we're going to, you know,

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and so when they said, hey, you know, we're going to go to our, this year,

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I said, well, if you're going to come back, fill out our intent to enroll.

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So, on our intent to enroll, we have about 135 students right now on our intent to enroll for the 27th and 28th school year.

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That's quick, because we just barely put that up.

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Yeah, and we have a lot of families that are really excited that our sixth grade is going to become seventh grade.

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Last year, probably 80% of those 48 students, some kind of wish and we would have done this year earlier, would have been in seventh grade.

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but now we have it for next year. So we have three teachers in kindergarten, two in first,

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three in second. Actually, never mind. I didn't change that. We actually have two in second grade.

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I needed to change that. I didn't change it from the previous year. Two in second, three in third,

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fourth grade two, fifth grade two, and sixth grade two. I'm going to have to change that. We only have

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two and second. And six teachers in specialties. I know some people will be like, you know,

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you have more teachers in specialties than you have in your regular program, but that's a lot

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of the reason why people come to treaside is for our specialty programs, for Spanish, for yoga,

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music, PE, and that's kind of what sets us apart from a lot of the other schools that have kind of

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taken the art set of the schools. We have two teachers one full time, one half time in special Ed,

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Social Worker, Director, Secretary, Registrar, Office Manager, Administration, Facilities,

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and a part-time and full-time reading specialist. Administration activities, we've been busy.

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We had our hybrid program approved by the State Charter Board in June. Utah Charter

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Finance Authority approved access to tax exempt bond market. Is that correct, Clint?

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Am I using

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I didn't see you I didn't see you okay seventh grade expansion approved by the state charter board in

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Was that July August beginning of August and tent to enroll survey shows 138 new students for 27 to 28 school year

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Current enrollment includes 112 new students before we got two students yesterday. So now it's at 114

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We'll weekly construction and finance meetings

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I'm Kimber spent attending quite a few of those and we just had our yearly before school

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teacher training and so one nice thing about tree side is everybody kind of likes food

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and we love our Spanish teachers who always provide us with really good food and we have

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our breakfast kind of fun because we don't get to go to those.

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We have lots of food because at Christmas time we used to do the 12 days of Christmas and it

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started out being something really small like everybody would just bring cookies on their days

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and now it's become like everybody brings seven course meals on their days and so uh you know

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we're pretty we're a multicultural faculty and we've got people from Latvia Ukraine, Czech Republic

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Condoris got a very multicultural faculty at our school or very diverse and so

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with that comes a lot of food. We had some fun and put out some videos. They went

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to my husband's studio to record so that we didn't get in trouble copyright. We

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did parodies. You can always get away with parodies. You can use the background music

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and make your own videos. I don't know if you've any of you've seen them. We did

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Spanish video a couple days ago. It's got like 11,000 views on it and and our school

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ones you know not far behind but so we had some fun doing that in our back-to-school training.

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Our academic program is balancing Wallworth inspired instruction with state standards,

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promoting real-life applications and experiential learning, integrating the arts,

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music, movement, nature, and service, and using Fridays as an opportunity for field trips

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handwork classes at graduation and community involvement and like I said this is something

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that kind of sets us apart from other schools that are taking that seem to be worried

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only about testing scores and so then they'll lose their PE teacher and then they'll lose

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their music teacher and that's really a big part of who we are.

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Lots of reading going on.

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I just looked at these pictures and these are all new students.

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so they've never been to Treeside before. I didn't plan that, but after looking at that,

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it has been some fun outside, underneath the trees, some introduction activities for our

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fifth grade students, and lots of learning circles going on in our music classroom.

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We are lucky to have a lot of professionals, for example, Mrs. Reaser is a professional music teacher,

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and then she went into education after that. She went to Carnegie Hall this summer in New York. She was

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one of the, one of the few teachers chosen by that

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across the nation.

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Our art teacher and, you know, we're munking around in first grade.

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So we tend to work with a lot of students from,

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with the diversibilities.

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This is our hybrid learning program that was approved by the State Charter Board in June.

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We had part-time attendance with school peers with three different options.

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Part-time attendance, morning attendance.

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with school peers with additional curriculum at home.

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Five students chose that.

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Part of time attendance, three to four days a week

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with school peers and additional curriculum at home,

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23 students and at home curriculum

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would provide it in school support and a family learning

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and if that lab available, one to two days per week.

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Five students.

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So we have a variety of options for families to choose from.

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So they can do some of those other world

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or things like going to nature schools

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or doing some of them will choose Mondays

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and they go to a nature school or choose Friday days and they go to a firm school so that

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they have that opportunity to do more wool or things outside of school.

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And then they just catch up with the, they go on to our CSO program and they're able

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to do that, that work at home.

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So additional items.

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We've got our TSSA plan, our positive behavior plan, hybrid policy for the hand vote, instructional

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and our new enrollment policy, including hybrid.

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So I'm just going to get out of here for a sec.

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Did everybody have a chance to look those over?

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Yes.

268
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Okay.

269
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I could start with a tree side positive behavior plan.

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Can you guys still see what I'm showing?

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Yes.

272
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Okay.

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So it shows a positive behavior plan.

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And so this is something that was created by the state so we have more positive behaviors

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in school, $3,000 is to be used to provide the positive behavior specials with a stipend

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and a $1,000 to be used to implement the positive behaviors plan.

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We used to use the purple ticket program where kids were given purple tickets and then we'd

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have big assemblies.

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We don't really have a place for big assemblies right now.

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So, and this is supposed to reduce tobacco alcohol, electronic cigarette products, just to have positive environments, which will reduce risk factors.

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And so we really don't have a place for them to have assemblies. So we will be doing a tree buck program where if the students are on green, they'll get five tree bucks and if they're in yellow, they'll get two tree bucks.

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and so just kind of building skills like combat and peer pressure and address and school climate and culture issues.

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Implementing evidence-based programs, we are going to have Ms. Ever or a social worker implementing the UNME together to create free curriculum.

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That's a 6-eleven lesson.

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Evidence-based curriculum created by the Stanford Reach Lab and teachers and staff will

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be trained by USBE and user-stortive practices in their classroom, as well as have a mindfulness

287
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cornering to their classrooms in order to implement trauma-informed practices.

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And there's a school called Roots Charter School and they do the 243 We Love You and to use

289
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them and do app school district and kind of off of the Mr. Rogers just to allow students

290
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to realize that are value. And so funding will be used towards stipends, rewards for

291
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treeback store and teacher training.

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So that's a back overvention thing. I looked into that

293
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and it says it's based on the grades. So I don't think it'll be six classes for everybody.

294
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Is that the idea or are we going to do it like they're saying yeah?

295
00:25:29,800 --> 00:25:39,040
We'll do it. It's not about just six classes. It's a six lesson evidence based based on based on the grade like you said

296
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Yeah, okay. Yeah, we'll just follow that and she'll implement it

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Mrs. Cavio our social worker goes into each class once a month and she does a lesson for them whether it's on kindness whether it's on bullying

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whether it's, you know, so she and then she works with groups as well. And so this will be part of her lessons that she'll be going into each of the classrooms and like I said, depending on the grade and whether it's six lessons.

299
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Okay.

300
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This will take us over to our next one.

301
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So, our next thing is our Teacher and Student Success Act Plan and what we did is we looked

302
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at our, we had program goals based on, you know, again, balancing our Waldorf and Inspired

303
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Instruction. We state standards. Our measurement is our School Climate Survey, a Roman in attendance.

304
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And the first thing is making sure we integrate the arts, music, movement, yoga, and Spanish,

305
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provide in service on universal design for learning.

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So what universal design for learning is say a student isn't really good at writing but they can tell you that they understand the content and they are given a chance to maybe they have to do a report for social studies.

307
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Well, universal design for learning is like they can, we have more options and we'll be

308
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training and providing in-service for teachers instead of writing, maybe they can show what

309
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they learn by doing a diorama or, you know, just, or doing a slideshow or something like

310
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that.

311
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And so that's one of our ways that we celebrate diversity and provide in-service on Waldorf

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methodologies.

313
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Our academic goals, those are based on our land trust plan so that we have the same academic goals on our land trust plan as we do for our teacher and student success act plan.

314
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And then our community goals are to increase parent engagement, increase family communication with emergency safety procedures, school curriculum and events, and decrease bullying and student conflict.

315
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It's our measurements, our school climate survey, enrollment and attendance, and school

316
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incident reports.

317
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And our school incident reports decrease last year significantly from like 230, 260,

318
00:28:00,560 --> 00:28:03,160
which is very interesting because we're in a different kind of building.

319
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And then the school-wide incentives for positive behavior, which would be our tree bucks.

320
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So we have professional development goals of increasing teacher proficiency, increasing high quality

321
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instruction. We've got our mentoring program and teacher surveys, teacher

322
00:28:20,600 --> 00:28:25,320
qualifications, and end-of-year evaluations. So we have our mentor program that

323
00:28:25,320 --> 00:28:28,540
all teachers with less than three years experience will be provided with a

324
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mentor. We actually usually do five and we obtain our master teacher program grant

325
00:28:34,140 --> 00:28:38,100
to give stipends to our teachers who have more experience that will support

326
00:28:38,100 --> 00:28:43,220
teachers in their academic and enrichment curriculum being able to observe

327
00:28:43,220 --> 00:28:53,960
in the classroom. So our budget is 129,766 and 99 cents. And those will go towards 12,000

328
00:28:53,960 --> 00:28:59,080
to our mentor stipends, our Spanish teacher stipends of $2,000. They're always buying

329
00:28:59,080 --> 00:29:03,780
things for the classroom. They're sending them to restaurants. We're doing a lot of extra

330
00:29:03,780 --> 00:29:09,540
stuff in our Spanish teachers to get those stipends. Our yoga and mindfulness specialists,

331
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our music specialists, nurse pianists, culture and natural specialists.

332
00:29:14,880 --> 00:29:16,640
Sorry I'm talking too much.

333
00:29:21,060 --> 00:29:21,640
So

334
00:29:25,030 --> 00:29:28,350
what is the mindfulness specialist when

335
00:29:34,590 --> 00:29:35,590
you're muted again Rachel?

336
00:29:36,350 --> 00:29:38,610
Just trying to drink and get the coughing to stop.

337
00:29:40,610 --> 00:29:44,370
I muted on that heat stroke out there today because I was coughing.

338
00:29:46,550 --> 00:29:51,790
I did a mud run on Saturday and I'm still feeling the effects because I did this mud run

339
00:29:51,790 --> 00:29:58,570
down in Mona and didn't realize when my sister signed me up for it that I was

340
00:29:58,570 --> 00:29:59,950
Putting through fields of lab...

341
00:30:06,420 --> 00:30:29,940
So, I'm still feeling the effects of that mud run, but I do get through it. It's our yoga teacher. So she does, she teaches them about mindfulness activities, like, you know, being aware of who you are, being aware of where you are, being aware of being kind, stuff like that, along with her yoga. The same, same person. Yeah, same person. Okay. She does both.

342
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It's kind of a wall door thing, the mind follows.

343
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So that would be Eva.

344
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Okay.

345
00:30:42,000 --> 00:30:44,260
And I'm going to go on to the next one.

346
00:30:45,720 --> 00:30:53,460
These were our policies that we presented to the state charter board when we did our hybrid.

347
00:30:53,980 --> 00:30:57,840
Our learner validated attendance policy would mean.

348
00:30:59,520 --> 00:31:02,000
I noticed the LEA needs to be changed,

349
00:31:05,000 --> 00:31:08,840
so we can approve this policy, so the caveat that

350
00:31:08,840 --> 00:31:09,360
that is correct.

351
00:31:09,360 --> 00:31:10,640
This is the wrong copy.

352
00:31:10,900 --> 00:31:15,280
The one I sent to them had the LEA changed, so the one that was approved by the State

353
00:31:15,280 --> 00:31:21,800
Charter Board did have the LEA changed, yeah, I just didn't, I just pulled off this copy,

354
00:31:21,940 --> 00:31:28,920
not realizing I did the one where it says gateway again, that's great, but it has been changed

355
00:31:28,920 --> 00:31:30,220
the one that was approved.

356
00:31:32,560 --> 00:31:38,920
So basically the attendance validated program is, so if we can

357
00:31:38,920 --> 00:31:44,700
approve that with the LEA changed. I just pulled up the wrong one right now when I sent it to you guys.

358
00:31:45,480 --> 00:31:54,860
It's a tennis validated program means that absences, so if a student is absent that they can make

359
00:31:54,860 --> 00:32:02,840
that up through completing the assignments. So if they're a hybrid school and it's not

360
00:32:02,840 --> 00:32:06,840
going to be like, oh, you've spent so many hours and we're going to clock your hours

361
00:32:06,840 --> 00:32:08,660
that you've spent doing this assignment.

362
00:32:11,200 --> 00:32:15,940
Attendance is submitted according to the fact

363
00:32:15,940 --> 00:32:20,660
that their assignments are done. We're not going to be checking them in hours. I know there's

364
00:32:20,660 --> 00:32:29,420
lot of programs where they're like, you have to document, you spent from noon to 5 p.m.

365
00:32:29,780 --> 00:32:35,980
5 hours this many days a week to get attendance. We're just doing that. They're attendance.

366
00:32:36,240 --> 00:32:45,520
They will have it based on the fact that they get the assignment completed. It's basically what it says.

367
00:32:46,480 --> 00:32:51,740
Number of assignment submissions, progress towards academic goals, and demonstrating competency.

368
00:32:53,950 --> 00:32:59,460
We can also use login data from learning software, virtual conferencing participation, internship,

369
00:33:00,040 --> 00:33:05,460
completed service and logs, but we're not going to be documenting that they spent so much

370
00:33:05,460 --> 00:33:07,940
time on a certain program.

371
00:33:08,300 --> 00:33:09,880
We're not going to be asking for anybody's hours.

372
00:33:10,940 --> 00:33:13,820
So I had a question when I was reading this, it seemed very general.

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00:33:14,120 --> 00:33:19,880
So when we start a hybrid program with a student, do they kind of say this is what we expect

374
00:33:19,880 --> 00:33:21,260
to, I guess, of you?

375
00:33:21,840 --> 00:33:23,360
Is it different for each student?

376
00:33:23,540 --> 00:33:27,840
Because obviously I saw that, you know, if I ever do this and if I ever do in that, they

377
00:33:27,840 --> 00:33:32,920
still have this as what could be, but we, like, they know what to expect when they start.

378
00:33:34,280 --> 00:33:34,600
Yeah.

379
00:33:34,800 --> 00:33:39,120
And so we will make that more clear and have meetings with the parents, but they know they

380
00:33:39,120 --> 00:33:45,520
have to get their assignments done, that are on CISA. And so we have somebody that specifically

381
00:33:45,520 --> 00:33:49,160
will work with each of the students to make sure they're getting those assignments done.

382
00:33:52,500 --> 00:33:57,300
I had the privilege of helping you while we're writing that. Yeah, I know that they do have a

383
00:33:57,300 --> 00:34:05,320
signed staff at the school to make sure and keep track of them. Yeah.

384
00:34:08,780 --> 00:34:11,140
And we also, we had a previous

385
00:34:12,340 --> 00:34:17,080
documents and I don't know if there's a policy to go with it, but this policy falls in line

386
00:34:18,100 --> 00:34:23,540
that if students go on vacation and they let us know ahead of time and it used to be a paper

387
00:34:23,540 --> 00:34:28,680
they filled out we just made a digital application that they can just complete their assignments on

388
00:34:28,680 --> 00:34:37,560
vacation and that the attendance won't go against them. They need to notify you before vacation or

389
00:34:37,560 --> 00:34:42,500
it doesn't matter. They should, yes, they should notify us before a vacation. So that they've

390
00:34:42,500 --> 00:34:48,860
just got to get their, basically, they're just going to get their assigned system. Okay. Yeah. Okay.

391
00:34:49,800 --> 00:34:52,240
Any other questions? Oh, sorry.

392
00:34:57,150 --> 00:35:00,750
Um, so the draft hybrid policy and procedures for hand,

393
00:35:00,930 --> 00:35:07,150
handbook, um, we, we just gave some options for hybrid learning and they'll submit an application

394
00:35:07,150 --> 00:35:13,690
of enrollment with the general student population and then after they are accepted into the school,

395
00:35:13,810 --> 00:35:20,990
they'll fill out an application for the hybrid program and basically it's attendance for hybrid

396
00:35:20,990 --> 00:35:26,710
students will be subjected to the validated learner policy and you know we have the educational

397
00:35:26,710 --> 00:35:32,810
specialists who's going to look over those every Friday and they're required to make the same

398
00:35:32,810 --> 00:35:40,290
academic advancement is their full time in-person peers and I've already met with most of the parents

399
00:35:40,290 --> 00:35:45,530
to create an individual learning plan for success. They do the application and they'll be all

400
00:35:45,530 --> 00:35:52,530
assigned a home-room teacher and an educational specialist who will track their assignments and

401
00:35:52,530 --> 00:36:02,790
then monitor parents are required to monitor and then students with disabilities are provided with

402
00:36:02,790 --> 00:36:05,990
and we have already set up in their learning plan

403
00:36:05,990 --> 00:36:09,730
when they will be meeting with our specialists,

404
00:36:10,630 --> 00:36:13,310
whether it's via Zoom or in person.

405
00:36:15,860 --> 00:36:16,920
So that's for the parents,

406
00:36:16,920 --> 00:36:19,520
it's kind of tried to be in clear language.

407
00:36:21,670 --> 00:36:25,410
And then we just added the hybrid policy

408
00:36:29,130 --> 00:36:32,270
to our enrollment policy.

409
00:36:32,270 --> 00:36:41,050
So this is basically just our enrollment policy and in bold is our hybrid policy section.

410
00:36:41,570 --> 00:36:44,190
Yeah, the new section that will be added to our policies.

411
00:36:47,940 --> 00:36:49,160
What was in the handbook?

412
00:36:49,160 --> 00:36:50,320
So it's not really anything new.

413
00:36:51,340 --> 00:36:59,680
And so what was different is we used to have a dual enrollment and we tried to kind of fit

414
00:36:59,680 --> 00:37:07,960
get our hybrid students into this dual enrollment and then rationale for release time away from

415
00:37:07,960 --> 00:37:12,920
tree side charter school would be like our vacations or things like that.

416
00:37:13,180 --> 00:37:20,200
So we try to fit a square peg into our ran hole and we were having families doing this.

417
00:37:20,740 --> 00:37:27,420
So it's better that we do have the hybrid program where they can do less than the three quarters

418
00:37:27,420 --> 00:37:31,560
of the weekly instructional time, they can do that on this one.

419
00:37:33,160 --> 00:37:35,160
Okay, that's what I've got.

420
00:37:37,260 --> 00:37:39,700
Thank you, Rachel. Any questions for Rachel?

421
00:37:42,640 --> 00:37:47,740
I can find while everybody else is talking, I'll find the one that says the correct

422
00:37:48,740 --> 00:37:55,020
alie on it so that so I can submit it and you guys can see it.

423
00:37:55,160 --> 00:37:56,020
That has the correct one.

424
00:38:01,400 --> 00:38:03,660
And you go ahead and stop sharing now.

425
00:38:04,000 --> 00:38:06,200
It helps me a lot of that.

426
00:38:06,780 --> 00:38:07,400
Thank you.

427
00:38:12,470 --> 00:38:12,690
All right.

428
00:38:15,570 --> 00:38:16,110
All right.

429
00:38:16,250 --> 00:38:22,930
Next, I'm going to turn the time over to Brandon Johnson, our borrower's counsel for our

430
00:38:24,330 --> 00:38:27,810
acquisition and all the stuff we're working on for buying our building.

431
00:38:28,230 --> 00:38:33,030
So we have some policies that we have to do.

432
00:38:33,030 --> 00:38:36,570
So we did go before the Utah Finance Authority,

433
00:38:36,630 --> 00:38:42,190
and we got approved to get their taxes into bond rates,

434
00:38:44,330 --> 00:38:46,490
which is huge because it saves us money.

435
00:38:47,390 --> 00:38:50,110
But now we have to put a bunch of policies in place

436
00:38:50,110 --> 00:38:51,430
that we haven't had to have before,

437
00:38:51,570 --> 00:38:53,270
because we didn't have financing like this.

438
00:38:54,070 --> 00:38:57,470
So I'll let Brandon and Clint both work in tandem here

439
00:38:57,470 --> 00:39:01,930
on helping us review all these policies

440
00:39:01,930 --> 00:39:04,350
so we feel confident when we vote on them and

441
00:39:09,410 --> 00:39:11,490
I'll let Brandon and Clint figure out who goes first.

442
00:39:13,050 --> 00:39:18,050
Brandon, this is probably more yours. What would you like me to do? Do you want to go ahead?

443
00:39:18,710 --> 00:39:21,550
No, I'm happy to go first. I was just trying to find the mute button.

444
00:39:23,410 --> 00:39:36,750
No, yeah, this, yeah, so I talked to Aaron. Yeah, so this is the big, this is the approval that

445
00:39:36,750 --> 00:39:44,770
the board will give to Theresa to the school to move forward with the financing.

446
00:39:45,650 --> 00:39:55,410
And it's not a requirement or it's not the school isn't forced to move forward with

447
00:39:55,410 --> 00:39:57,470
the financing by approving this resolution.

448
00:39:58,030 --> 00:40:01,790
It grants permission but it doesn't force the school to move forward.

449
00:40:01,790 --> 00:40:08,230
So sometimes when I say that boards will say, well, why would we not want to move forward?

450
00:40:08,370 --> 00:40:21,550
And then I think of a crazy reason why, but if for some reason interest rates got crazy or the project just didn't work out for some reason, you're not obligating yourself to move forward with something that doesn't make sense.

451
00:40:21,550 --> 00:40:36,970
but this will be the formal permission, if you will, the board gives the school to move forward and to sign the documents and to move forward with the closing on the bond financing if it makes sense.

452
00:40:39,230 --> 00:40:46,950
And I will talk to Kimber earlier today and she suggested and I think it's a good idea.

453
00:40:46,950 --> 00:40:55,450
I'll give just kind of a as simple as I can kind of a bonds 101 introduction to what's what's

454
00:40:55,450 --> 00:41:02,830
happening. And as Kimber mentioned, some of this is related to the fact that these bond the

455
00:41:02,830 --> 00:41:08,810
interest on these bonds will be tax exempt. And what that means is that the investors who own these

456
00:41:08,810 --> 00:41:16,750
bonds, a bond is basically alone in a different form that the school will get. But the bond

457
00:41:16,750 --> 00:41:21,310
Some holders don't have to pay federal income tax on the interest that they earn.

458
00:41:21,610 --> 00:41:24,490
So when you pay them interest, they don't have to pay taxes on it.

459
00:41:24,970 --> 00:41:28,670
And because of that, they're willing to give you a lower interest rate than they would

460
00:41:29,310 --> 00:41:30,530
if they were taxable.

461
00:41:30,650 --> 00:41:34,150
They basically share a portion of their tax savings with you.

462
00:41:34,910 --> 00:41:39,770
And so as Kimber mentioned, this is a good thing even though it might feel a little painful

463
00:41:40,570 --> 00:41:44,210
because you're going to end up with a lower interest rate than you would if these were

464
00:41:44,210 --> 00:41:49,310
normal taxable bonds on like a commercial building financing or something.

465
00:41:51,390 --> 00:41:56,750
Part of that is that instead of the school issuing the bonds or entering into the loan

466
00:41:56,750 --> 00:42:02,230
directly with investors, you'll do it through what we call a conduit issuer, which is the

467
00:42:02,230 --> 00:42:04,010
Utah Charter School Finance Authority.

468
00:42:04,690 --> 00:42:12,630
And under federal tax law, even though the school is a 501C3 entity, the school itself can't

469
00:42:12,630 --> 00:42:18,610
issue tax exempt bonds, but if you do it through another public entity like the Charter

470
00:42:18,610 --> 00:42:21,590
School Finance Authority, then you can issue tax exempt bonds.

471
00:42:21,850 --> 00:42:29,690
And so as Kimber mentioned, the school already received approval from the Charter School

472
00:42:29,690 --> 00:42:33,330
Finance Authority Board to move forward with these bonds.

473
00:42:33,330 --> 00:42:38,330
And so now your board is going to approve something similar.

474
00:42:39,790 --> 00:42:46,390
There will be a loan agreement between the school and the charter school finance authority.

475
00:42:47,190 --> 00:42:52,750
And that loan agreement basically says that the school will pay the principal and interest

476
00:42:52,750 --> 00:42:57,750
on the bonds and whatever the debt service payments are on the bonds is what the school

477
00:42:57,750 --> 00:42:59,370
is going to pay.

478
00:43:00,430 --> 00:43:06,650
And the school will do that through a trustee in this case US bank who will receive the

479
00:43:06,650 --> 00:43:11,630
money from the school and then disperses it to the various investors that have bought

480
00:43:11,630 --> 00:43:12,130
the bonds.

481
00:43:13,490 --> 00:43:15,650
So one of the key documents is the loan agreement.

482
00:43:15,950 --> 00:43:20,470
It's the covenant or the promise from the school that you will pay the debt service on

483
00:43:20,470 --> 00:43:21,010
the bonds.

484
00:43:21,610 --> 00:43:30,170
There's also other covenants to maintain your 501c3 status, to maintain the building in good

485
00:43:30,170 --> 00:43:37,870
workable order to maintain enrollment and things like that. All things that

486
00:43:37,870 --> 00:43:41,950
investors want to see to make sure that they know 20 years down the road they're

487
00:43:41,950 --> 00:43:47,910
going to keep getting paid on the bonds. So one of the main documents that is

488
00:43:47,910 --> 00:43:56,210
approved in this resolution is the loan agreement. Another one is a deed of

489
00:43:56,210 --> 00:44:03,290
a mortgage. So in order to secure the bonds, just like, you know, you do on your own house,

490
00:44:03,350 --> 00:44:08,330
when you buy a house, and get a loan, there will be a mortgage or a deed of trust on the school.

491
00:44:11,630 --> 00:44:19,170
Yeah, it's there, no investor, no bond holder wants to foreclose on a school. It's a bad look

492
00:44:19,170 --> 00:44:27,090
for them and it really doesn't benefit them very much, so it is there but it's

493
00:44:27,090 --> 00:44:33,210
rarely if ever invoked. Another document related to the bonds is what we call a

494
00:44:33,210 --> 00:44:37,850
limited offering memorandum. That's the offering document that goes out to

495
00:44:37,850 --> 00:44:45,630
investors or potential investors to review the information about the bonds in the

496
00:44:45,630 --> 00:44:51,210
school to see if they want to invest. And there will be a part of that limited

497
00:44:51,210 --> 00:44:55,130
offering and memorandum that will have information specifically about the

498
00:44:55,130 --> 00:44:59,970
school, about the school's finances, enrollment history, wait list, all of...

499
00:45:00,370 --> 00:45:30,250
All of the basic information about the school that a potential investor might want to know is they're looking to buy these bonds. And then the other thing that this resolution does, and I understand that each of these are listed as separate items on the agenda, but they're covered and approved in this resolution. So, approving the resolution also approves the policies that we've talked about, or that we will talk about that are related to the bond.

500
00:45:30,250 --> 00:45:45,190
The first policy, and it's actually to, they're combined into one policy, is the continuing disclosure and federal tax compliance policies.

501
00:45:46,230 --> 00:45:54,450
And so when the bonds are issued, the school is going to covenant to provide annual information to investors.

502
00:45:54,450 --> 00:46:03,290
and it's done by posting on a website called Emma which stands for the Electronic Municipal Market Access.

503
00:46:04,170 --> 00:46:11,510
I can never remember what it stands for, but that's where all public entities post their annual information.

504
00:46:12,470 --> 00:46:21,890
And so an investor, let's say five years down the road, wants to know how the school is doing because they might be interested in buying the bonds in the secondary market, not from the school.

505
00:46:21,890 --> 00:46:27,370
They can go and see what the school has posted and give an idea of how the school is doing.

506
00:46:28,090 --> 00:46:34,210
The information that you will post is your audit of financials that you already prepare

507
00:46:34,210 --> 00:46:41,050
every year, information about enrollment, wait list, and there are a number of items, other

508
00:46:41,050 --> 00:46:47,890
items, but it's all information that you either gather or prepare on a regular basis anyway.

509
00:46:47,890 --> 00:46:52,990
Okay, so you'll just make that available to the general market.

510
00:46:54,530 --> 00:46:56,770
The other part of this is the interrupt for a second.

511
00:46:57,650 --> 00:47:01,570
I don't know, Megan and Jose, if you have questions, do you want to address the questions

512
00:47:01,570 --> 00:47:02,530
by each policy?

513
00:47:02,790 --> 00:47:03,910
Do you want to wait till he's done?

514
00:47:04,870 --> 00:47:08,130
I can pull up the policies if you guys have questions about them.

515
00:47:11,020 --> 00:47:15,000
I don't really have any questions about them right now, so I'm good.

516
00:47:16,600 --> 00:47:17,540
That's a good suggestion.

517
00:47:17,540 --> 00:47:22,680
and I'll pause after each one so that they don't get mumbled together if you do have questions.

518
00:47:22,900 --> 00:47:25,520
If you want, I can share them up on the screen if that helps you guys.

519
00:47:26,180 --> 00:47:27,600
However you guys want to do this.

520
00:47:32,630 --> 00:47:34,290
Megan, if you're speaking, I didn't hear you.

521
00:47:34,570 --> 00:47:35,330
It looks like you're out.

522
00:47:42,870 --> 00:47:43,750
We can't hear you.

523
00:47:46,700 --> 00:47:49,700
Okay. We're going to have to fix the audio for voting.

524
00:47:54,280 --> 00:47:59,440
All right. So the next policy is the federal tax compliance policy.

525
00:47:59,440 --> 00:48:07,860
policy and that is that policy basically says that you will take certain actions and won't

526
00:48:07,860 --> 00:48:12,680
take certain actions in order to maintain the tax exempt status of the bonds.

527
00:48:13,360 --> 00:48:17,960
And it really doesn't change anything that the school is already doing because they are

528
00:48:17,960 --> 00:48:23,640
all things that you are already doing to maintain your status as a 501C3 entity.

529
00:48:23,640 --> 00:48:35,020
And so this policy just lets the IRS know that you're aware that, you know, you need to do certain things and not do certain things in order to maintain the tax income status.

530
00:48:35,800 --> 00:48:45,500
But from a, from a basic standpoint, really there's no change because it's the same things that you're already doing as a 501C3 entity.

531
00:48:46,380 --> 00:48:48,120
I do have a question.

532
00:48:48,620 --> 00:48:48,800
Sure.

533
00:48:48,960 --> 00:48:51,480
So who's actually doing all of this work?

534
00:48:54,260 --> 00:48:55,140
So it's a common.

535
00:48:55,280 --> 00:48:59,100
I mean, as far as like preparing the policies and this resolution, we're doing that.

536
00:48:59,500 --> 00:49:09,460
Most of the work related to the federal tax exemption and preparing the bond documents is another attorney or group of attorneys called bond council.

537
00:49:10,300 --> 00:49:10,900
That is.

538
00:49:10,900 --> 00:49:22,260
So I'm specifically referring to the requirements to upload information to a website and things like that.

539
00:49:22,320 --> 00:49:26,860
Like, who's doing all that? How did it work? Is that Rachel's job or like, who's doing that?

540
00:49:27,180 --> 00:49:32,860
Yeah, so that's a good question that I talked to Kimber about as well.

541
00:49:33,340 --> 00:49:38,920
A lot of schools will hire, for example, you could hire, I think, and Clint.

542
00:49:38,920 --> 00:49:40,880
We can contract with Red Apple here.

543
00:49:41,260 --> 00:49:43,440
You can contract with Red Apple to do that.

544
00:49:44,960 --> 00:49:46,840
Yeah, and there's other entities.

545
00:49:47,120 --> 00:49:48,620
I mean, not that Red Apple wasn't good.

546
00:49:48,820 --> 00:49:50,700
I mean, that probably makes the most sense

547
00:49:50,700 --> 00:49:52,300
because they're the most familiar with it.

548
00:49:53,500 --> 00:49:56,440
So yeah, it could be someone like Red Apple

549
00:49:56,440 --> 00:49:58,080
that will do that for a fee.

550
00:49:58,440 --> 00:50:00,960
You know, I think the fee is pretty reasonable.

551
00:50:01,900 --> 00:50:05,680
But they can take the bulk of that burden of gathering that information

552
00:50:05,680 --> 00:50:10,280
and so that it doesn't land in Rachel's lap

553
00:50:10,280 --> 00:50:13,060
along with everything else that she needs.

554
00:50:13,360 --> 00:50:16,080
Because it is mostly information

555
00:50:16,080 --> 00:50:17,160
that you already have available,

556
00:50:17,460 --> 00:50:20,300
but it also does obviously take time to compile it

557
00:50:20,760 --> 00:50:22,780
to put it together and then to submit it

558
00:50:22,780 --> 00:50:25,600
to the trustee who will then post it on Emma.

559
00:50:26,020 --> 00:50:27,780
So yeah, that's another question.

560
00:50:28,100 --> 00:50:29,360
And I'll just jump in on that.

561
00:50:29,580 --> 00:50:31,140
Sorry, because I think I have a piece

562
00:50:31,140 --> 00:50:32,560
of important information.

563
00:50:33,360 --> 00:50:40,800
Our contract with the school at Roundtable actually includes this as a post-closing service.

564
00:50:41,140 --> 00:50:43,260
So it's kind of built into our current contract with you.

565
00:50:43,820 --> 00:50:48,980
The reason we do that is we find, and Red Apple is great, but we find that firms,

566
00:50:49,160 --> 00:50:51,680
even including Red Apple, they have so much going on.

567
00:50:52,580 --> 00:50:57,860
Sometimes things get missed and you get dinged on posting on time, which we don't want to have.

568
00:50:57,860 --> 00:51:13,000
And probably just importantly or more importantly, we take a look at things and say, okay, let's look at these financials and make sure nothing gets posted that it has errors in it so that then it becomes alarming to investors like, whoa, what's going on here?

569
00:51:13,580 --> 00:51:23,680
So our contract with the school actually builds in handling that now the board is the ultimate responsible body.

570
00:51:23,680 --> 00:51:30,880
But what we do is we partner to make sure that we're doing the heavy lifting and so the board can not have to

571
00:51:31,380 --> 00:51:34,620
You know, they can be aware of it. No, it's going on. Get updates

572
00:51:34,620 --> 00:51:39,300
But they don't have to make sure it's happening every time when we don't add that to somebody like Rachel's list

573
00:51:39,300 --> 00:51:44,580
So so that's how long do you do that for how long do you do that?

574
00:51:45,020 --> 00:51:51,600
So I think our contract list specifically for one year, but we really hope to do that for the life of the debt outstanding

575
00:51:51,600 --> 00:51:58,320
because again, we, I think we're pretty skilled in making sure that it's on time and making sure that it's accurate.

576
00:51:58,560 --> 00:52:00,720
Those are two key things that you want to have.

577
00:52:00,740 --> 00:52:11,020
And we especially need it because we chose in our last June meeting to refinance basically down the road in about four years or whatever.

578
00:52:11,300 --> 00:52:15,180
So I need to make sure that we're following everything so we can easily redo that.

579
00:52:15,180 --> 00:52:24,470
And that is something that when you do issue those bonds in four or five years, you do have

580
00:52:24,470 --> 00:52:31,630
to report to the market how well you've done in median, you're continuing to disclose

581
00:52:31,630 --> 00:52:37,930
your obligations, whether there were any missed filings or late filings, so you're exactly

582
00:52:37,930 --> 00:52:38,350
right.

583
00:52:38,570 --> 00:52:41,850
It's really important to stay on top of that.

584
00:52:42,350 --> 00:52:59,110
And I apologize, I wasn't aware that your contract provided for that, but that's an even better service, because as Clint said, I mean, not to suit his own horn, but this is all they do. This is their specialty. And so that's no, that's great.

585
00:52:59,110 --> 00:53:11,550
So that will one take most of the burden off of Rachel and her team and also make sure that it's done right and done on time. So that's actually that's great news.

586
00:53:12,990 --> 00:53:18,930
That was one of Scott's questions to just for you guys know Scott read it over and kind of sent me any questions he had as well to ask.

587
00:53:19,190 --> 00:53:23,210
So he is aware and keeping up.

588
00:53:24,030 --> 00:53:33,430
good to know because you know we don't want anybody or this thing to come on upon us and then we just let the ball drop, you know, like we need to make sure it's quarterly, right?

589
00:53:34,870 --> 00:53:35,270
Yeah.

590
00:53:36,370 --> 00:53:50,350
And I will say and I will say this in a hushed voice, but it so it's very important to make sure that you're providing this information on an annual quarterly basis.

591
00:53:50,350 --> 00:54:00,170
and to do it on time. On the flip side, if you fail to do it, or if you miss a filing or

592
00:54:00,170 --> 00:54:05,410
submittal or it's late, it's not treated as a default on the bonds. It doesn't affect

593
00:54:05,410 --> 00:54:11,550
in any way your bonds. And so it is very important, but I also know that, you know, if there is a

594
00:54:11,550 --> 00:54:17,070
flip fall, if you are, if you do post something, you know, 10 days late, it really won't have

595
00:54:17,070 --> 00:54:23,070
an effect on at least on these bonds. And really in the future, you know, unless it's really

596
00:54:23,070 --> 00:54:29,770
agreed, just it probably won't have too much an effect on your future bonds. I don't know

597
00:54:29,770 --> 00:54:36,110
that I can remember at charter school that I've worked with that hasn't had at least, you know, two or

598
00:54:36,110 --> 00:54:44,290
three late filings or amiss filings. So it's not unusual that there are a few kind of mistakes,

599
00:54:44,290 --> 00:54:58,030
and like I said, they don't affect, you know, the bonds are not a default, but at the same time, it is very important to try to get those posted and on time, so.

600
00:55:03,210 --> 00:55:05,430
Any other questions related to that?

601
00:55:12,130 --> 00:55:18,310
Then the other policies are policies that investors like to see just so they know that

602
00:55:20,880 --> 00:55:27,170
the school will be managed in a responsible way which we know that but these policies

603
00:55:27,170 --> 00:55:29,570
help the investors know that.

604
00:55:30,330 --> 00:55:35,830
One of them is the risk management policy and that policy basically says that you will

605
00:55:35,830 --> 00:55:43,870
comply with state laws that relates to risk management, to insurance that you will maintain

606
00:55:44,710 --> 00:55:55,810
appropriate and adequate insurance, that you will maintain safeguards on the financials

607
00:55:55,810 --> 00:56:01,070
of the school, on other things like that.

608
00:56:01,070 --> 00:56:07,390
that. So that's the risk management policy. Someone related to that as a fiscal and

609
00:56:07,390 --> 00:56:15,330
debt management policy. And again, that basically says that you will comply with state laws

610
00:56:15,330 --> 00:56:21,570
and rules relating to the management of the public funds that you receive. It will be

611
00:56:21,570 --> 00:56:28,430
invested and cared for in accordance with the Money Management Act and with the other rules

612
00:56:28,430 --> 00:56:37,030
and laws that apply to two public schools managing public funds and the

613
00:56:37,030 --> 00:56:44,010
management part of that is that you will comply with the the covenants that

614
00:56:44,010 --> 00:56:49,850
you make under the bond the bond documents and in particular the loan

615
00:56:49,850 --> 00:56:56,930
agreement as far as not over-issuing debt not issuing debt that exceeds the

616
00:56:56,930 --> 00:57:04,390
amount that's or the limits that are authorized under the the loan agreements and following prudent

617
00:57:05,630 --> 00:57:12,990
policies and procedures relating to that. And then the final one is the succession policy

618
00:57:13,470 --> 00:57:20,230
and investors like to see this because they don't, they would prefer, don't want to see basically

619
00:57:20,230 --> 00:57:25,250
a wholesale replacement of all board members so that you lose that institutional knowledge.

620
00:57:26,190 --> 00:57:34,530
so that they want to see that the board functions long-term in a way that

621
00:57:34,530 --> 00:57:40,790
maintains the credibility of the board. And so the succession policy provides

622
00:57:40,790 --> 00:57:46,030
for staggered terms so that they're not all being replaced or the majority being

623
00:57:46,030 --> 00:57:53,330
replaced in any one year. If there are vacancies, one, if it's possible that you

624
00:57:53,330 --> 00:57:58,990
adequate notice that you will be resigning or moving or whatever it is from the board

625
00:57:59,530 --> 00:58:07,230
and that gives the school and the board ample time to find a qualified replacement for the board.

626
00:58:07,570 --> 00:58:17,430
So again, it's another policy that investors like to see so that they know that the school and the

627
00:58:17,430 --> 00:58:23,530
board will be managed and function in a way that won't cause problems in the future

628
00:58:23,890 --> 00:58:29,670
as far as school operations go or payment on the debt service on the bonds.

629
00:58:31,790 --> 00:58:35,810
And that is, I believe, the last policy.

630
00:58:36,450 --> 00:58:43,730
So this resolution, again, approves or gives permission and approves the financing going forward.

631
00:58:43,730 --> 00:58:58,410
It authorizes the board chair or any other board member to sign the bond documents, including the loan agreement, the deed of trust, and any other closing document that's related to that.

632
00:58:59,330 --> 00:59:13,430
And then it provides for these policies that are related to the bond financing and help the school comply with the state and federal rules and

633
00:59:13,430 --> 00:59:16,230
regulations that will apply to these bonds.

634
00:59:21,940 --> 00:59:22,160
All right.

635
00:59:22,320 --> 00:59:23,180
Any more questions?

636
00:59:23,180 --> 00:59:25,940
I just want to present a question that Scott did.

637
00:59:26,200 --> 00:59:28,600
Brandon already answered it, but Scott asked, you know,

638
00:59:29,140 --> 00:59:32,580
this resolution doesn't have any terms at the loans or anything like that.

639
00:59:32,920 --> 00:59:36,920
And it's because we're granting permission basically for Clint to go out and shop

640
00:59:37,240 --> 00:59:39,940
and letting investors know we're serious about it.

641
00:59:40,340 --> 00:59:43,120
And we have approved the finding of it.

642
00:59:43,540 --> 00:59:46,300
And then we get to come back later and approve or disapprove.

643
00:59:46,840 --> 00:59:48,520
what Clint brings back to us.

644
00:59:49,380 --> 00:59:49,940
Okay, correct.

645
00:59:50,180 --> 00:59:52,560
Yeah, that's great summary, very good.

646
00:59:53,140 --> 00:59:56,260
Yeah, it's kind of a chicken and egg situation

647
00:59:56,260 --> 00:59:59,980
where investors, well, the underwriter doesn't want to go out.

648
01:00:00,000 --> 01:00:29,980
Let's start talking to investors seriously unless they know that the school is ready to move forward. And so this approving this resolution, let's the underwriter know, yes, we're serious, we're ready to go out. And so then they have the confidence to go out and start marketing the bonds. And at the same time, the final terms aren't haven't been approved yet, but this now will allow Clint and then the underwriter to and Clint and his team and the underwriter

649
01:00:29,980 --> 01:00:35,220
to start talking to investors and finalizing those terms of the bonds.

650
01:00:39,510 --> 01:00:41,290
Do you have anything else you'd like to add to?

651
01:00:42,030 --> 01:00:43,410
No, I think that was a good summary.

652
01:00:43,790 --> 01:00:47,490
I mean, we are holding of just adding, I guess,

653
01:00:47,630 --> 01:00:52,130
that we're now holding weekly calls with the finance team

654
01:00:52,930 --> 01:00:56,330
and trying to do that in concert with the project team

655
01:00:56,330 --> 01:01:01,590
so that we can have us in place by the time we go to price,

656
01:01:01,590 --> 01:01:08,570
You know, to put information to potential bond holders out there in an offering document that Brandon described

657
01:01:09,410 --> 01:01:10,130
Will

658
01:01:10,910 --> 01:01:12,030
anticipate having

659
01:01:12,630 --> 01:01:15,870
Project team have plans drawn enough to have a

660
01:01:15,870 --> 01:01:20,010
Guaranteed maximum price contract. That's essentially the investors

661
01:01:20,750 --> 01:01:21,470
tool

662
01:01:22,470 --> 01:01:29,730
To know that the building can be built on budget and and then we'll hope to have our arms around permitting permitting in Utah

663
01:01:29,730 --> 01:01:34,350
up through this year is fairly friendly because it comes through the state

664
01:01:34,350 --> 01:01:39,390
office of education actually. There are some kind of safety items and some

665
01:01:39,390 --> 01:01:43,750
other pre-permitting work that we do work with the city on or that the project

666
01:01:43,750 --> 01:01:47,710
team works with them on. So we are marching down those roads I think pretty

667
01:01:47,710 --> 01:01:54,990
effectively and hope to kind of bring that together. Trying to close by end of October

668
01:01:54,990 --> 01:02:03,810
right? Yeah, yeah. In the October is the targeted closed date. That's correct. I have to give Rachel

669
01:02:03,810 --> 01:02:10,510
credit. She, you know, as she talks to these designers, she keeps telling them, we don't need to spend

670
01:02:10,510 --> 01:02:15,750
a lot of money. We need to keep it on budget. And so she's being very aware of that. So that's Kudos

671
01:02:15,750 --> 01:02:20,570
to Rachel. And we appreciate that that she keeps reminding them that we don't need the best brightest

672
01:02:20,570 --> 01:02:27,430
some fanciest. We want a good 30 school that doesn't flood and other things. So it looks nice,

673
01:02:27,790 --> 01:02:35,370
but and suits our Waldorf school. So thank you Rachel for for tackling that a lot.

674
01:02:41,550 --> 01:02:45,410
And you guys are welcome to join those as well. If you have time, Joseanne Megan.

675
01:02:45,710 --> 01:02:55,420
I did have a question. As we finance and we start project, how do we and maybe this is a red

676
01:02:55,420 --> 01:03:01,540
I don't know. How do we make sure that we're staying within the budget, within contractors

677
01:03:01,540 --> 01:03:06,600
always? How do we keep track of that? Is that a board responsibility? I feel like it

678
01:03:06,600 --> 01:03:11,440
kind of is. I know it's also Rachel's responsibility, but could you guys tell us a little more about

679
01:03:11,440 --> 01:03:11,640
that?

680
01:03:12,940 --> 01:03:15,840
I can speak to that. I just want to make sure I understand

681
01:03:15,840 --> 01:03:20,920
your question. Are you talking about when we close the financing and then we take kind of

682
01:03:20,920 --> 01:03:24,220
that year or almost a year to the project,

683
01:03:24,220 --> 01:03:25,760
how do you keep it on time on budget?

684
01:03:25,960 --> 01:03:27,160
Is that your question about what?

685
01:03:27,300 --> 01:03:28,880
How about that project management basically

686
01:03:28,880 --> 01:03:29,840
once they reach that?

687
01:03:30,220 --> 01:03:32,200
So I believe Jeff at Red Apple,

688
01:03:32,200 --> 01:03:33,520
who happens to be in Brown Brother,

689
01:03:33,720 --> 01:03:35,580
will be on this part of the project.

690
01:03:35,580 --> 01:03:39,680
And effectively what happens is there's a monthly cycle here

691
01:03:40,180 --> 01:03:44,900
where work gets done, a pay app is created

692
01:03:44,900 --> 01:03:47,160
that captures payment for all that work.

693
01:03:47,720 --> 01:03:50,060
And during that time, there might be

694
01:03:50,060 --> 01:03:54,600
what are called change orders or allowances that happen that you know shift the project a little

695
01:03:54,600 --> 01:03:59,840
bit slightly to make accommodations as you go through. So really that will fall on Red Apple in

696
01:03:59,840 --> 01:04:06,700
this case to kind of be that project manager and make sure that they're monitoring the kind of

697
01:04:06,700 --> 01:04:10,940
the existing project fund which is the budget because we're going to get you 100% of what you need

698
01:04:10,940 --> 01:04:15,480
but you have to stay there and then they will also be kind of monitoring that to stay on time.

699
01:04:19,640 --> 01:04:20,040
So

700
01:04:20,040 --> 01:04:27,420
and those on the red apple team that will be handling that and there we'll go ahead.

701
01:04:27,780 --> 01:04:30,620
Do we cover that every month with our finance meeting?

702
01:04:32,140 --> 01:04:37,240
So I would imagine after yeah it could be that'll be kind of up to you in red apple but usually

703
01:04:37,240 --> 01:04:42,400
there's kind of a project team that will meet you know almost weekly and then certainly monthly

704
01:04:42,400 --> 01:04:47,580
so I would think the board should expect to have monthly updates on where you stand as far as

705
01:04:47,580 --> 01:04:54,640
You know project and progress and money spent and money left and how you look as far as the overall goal. So

706
01:04:54,640 --> 01:04:56,660
do that in the board meeting or

707
01:04:58,360 --> 01:05:05,320
It can't be or through committees. Sometimes schools the boards may want to form like a building committee or a monitoring committee

708
01:05:05,320 --> 01:05:09,780
And again, that's not within our scope of work on this project

709
01:05:09,780 --> 01:05:16,320
But I would suspect you want to coordinate that with Jeff and just set up something so you're getting you know at least monthly

710
01:05:16,320 --> 01:05:20,620
updates and progress reports. It could be tied to the finance committee that would be fine.

711
01:05:20,760 --> 01:05:24,840
There's no one right way to do it, but I think the goal here is to set up something that's

712
01:05:24,840 --> 01:05:28,920
repeatable and keeps a committee updated, which can keep the board informed.

713
01:05:31,080 --> 01:05:36,940
And also one thing, like we have our ceiling but we're trying to keep our projected below that

714
01:05:37,560 --> 01:05:43,120
just to let you guys know that we're trying to keep the dids and everything that come in below that.

715
01:05:43,120 --> 01:05:51,780
So if there's some that happens, we're not going above our ceiling like we'll have and

716
01:05:51,780 --> 01:05:58,900
refer to this the GMP contract. GMP stands for guaranteed maximum price. So you will have

717
01:05:59,420 --> 01:06:06,820
that ceiling and the bonds will be the bond size the amount of money that you get from the bonds

718
01:06:06,820 --> 01:06:14,280
will be tied to that maximum amount, so that you know going into it, that you have enough

719
01:06:14,280 --> 01:06:20,700
to complete the project up to that maximum amount. Obviously, if you go under budget then

720
01:06:20,700 --> 01:06:25,840
that's even better, but you have the confidence of knowing that right up front you have enough

721
01:06:25,840 --> 01:06:33,180
money to complete the project. And if there are any needs for change orders or anything like that,

722
01:06:33,180 --> 01:06:41,300
that ultimately the school has the ability or will approve or not approve those going forward

723
01:06:41,300 --> 01:06:43,180
at least if they reach a certain threshold.

724
01:06:43,720 --> 01:06:50,300
So the school and the board really are the ones in control of that process.

725
01:06:50,680 --> 01:06:55,740
And so it's not you won't be in a situation where you get to the end of the project or halfway

726
01:06:55,740 --> 01:07:02,620
through the project and realize oh, you know, we're $500,000 over budget because you won't

727
01:07:02,620 --> 01:07:07,540
You can't get there, you know, basically without your approval and you'll know what's going on.

728
01:07:07,840 --> 01:07:13,620
So that's the benefit of having that guaranteed maximum price contract as you know going into it.

729
01:07:13,960 --> 01:07:18,220
Okay, this is the maximum we're going to play for this project and we don't have to pay any more than that.

730
01:07:20,760 --> 01:07:26,960
I have a question and I just maybe, I don't know, maybe it's for Clint.

731
01:07:29,720 --> 01:07:37,480
So, right now we're having Washington Federal look at deciding if they would be interested

732
01:07:37,480 --> 01:07:44,260
and maybe we'll talk about it tomorrow at our meeting in the school and providing that

733
01:07:44,260 --> 01:07:44,640
funding.

734
01:07:44,860 --> 01:07:49,640
What is the difference between the interest rate of having like a bank take it on and then

735
01:07:49,640 --> 01:07:54,500
going into the open market and trying to find someone else?

736
01:07:55,160 --> 01:07:56,100
Is there a...

737
01:07:56,100 --> 01:07:57,220
Yeah, that's a great question.

738
01:07:57,440 --> 01:07:57,640
That's right.

739
01:07:58,100 --> 01:07:59,140
I can give you an estimate.

740
01:08:00,920 --> 01:08:05,580
If Washington Federal comes back in and just for the entire board's benefit, there is

741
01:08:05,580 --> 01:08:11,620
a bank out there at Washington Federal, who has kind of developed a strategic program to

742
01:08:12,520 --> 01:08:15,640
fund charter schools across the country.

743
01:08:16,380 --> 01:08:20,440
And they have struggled back in with the unwriting team and said, hey, we'd like to take a really

744
01:08:20,440 --> 01:08:21,260
good look at this.

745
01:08:21,400 --> 01:08:24,300
So they're expressing some pretty sincere and strong interest.

746
01:08:24,300 --> 01:08:28,860
On other projects we've worked with them on, their terms are you typically

747
01:08:28,860 --> 01:08:33,620
amortized over 25 years, but the best thing the headliner about them is their

748
01:08:33,620 --> 01:08:39,460
rates of lending to a school have typically been probably between about six and

749
01:08:39,460 --> 01:08:44,160
three eight and six and a half percent. In this market in these conditions, that's

750
01:08:44,160 --> 01:08:49,820
excellent. That is a really good rate. If they don't come in and we're not

751
01:08:49,820 --> 01:08:53,840
planning that they will, we're kind of treating that as like it'll be a bonus.

752
01:08:54,900 --> 01:08:59,740
Although we're going to pursue it heavily, but if they don't come in and we end up kind

753
01:08:59,740 --> 01:09:04,480
of doing a general market bond deal, I think we're going to be realistically probably

754
01:09:04,480 --> 01:09:05,840
around seven and a half percent.

755
01:09:06,140 --> 01:09:10,280
So it's pretty sick, but we can finance that probably out to 40 years.

756
01:09:10,920 --> 01:09:17,040
So on an annual debt service payment, you know, it will be higher to go to the bond market,

757
01:09:17,960 --> 01:09:20,600
and that's the interest rate environment we're in.

758
01:09:21,500 --> 01:09:25,040
The school really does face some headwinds, right?

759
01:09:25,280 --> 01:09:29,360
One is, it's a long time ago and it was a very specific event,

760
01:09:29,360 --> 01:09:31,460
but there is a bankruptcy in the school's past.

761
01:09:31,680 --> 01:09:35,220
That's going to be a challenge, right, in the markets.

762
01:09:36,280 --> 01:09:38,160
But I think we have a good explanation of that

763
01:09:38,160 --> 01:09:39,460
and have kind of just, you know,

764
01:09:39,500 --> 01:09:41,120
we'll disclose that and give context.

765
01:09:42,120 --> 01:09:44,300
The other thing is, is the school, you know,

766
01:09:44,300 --> 01:09:49,240
will we'll we'll share going to show up you know a some growth and that story right now in the

767
01:09:49,240 --> 01:09:54,140
country is been challenging to accept a lot more charter schools are missing their growth targets

768
01:09:54,140 --> 01:09:58,580
as far as enrollment there's been some headlines about that so we're kind of facing some headwinds

769
01:09:58,580 --> 01:10:06,900
in the market realistically but I think we've got again the ingredients of you know a very you know

770
01:10:06,900 --> 01:10:13,480
so in transaction so a loanable transaction for sure and I kind of describe this as the deal to get

771
01:10:13,480 --> 01:10:18,540
you to the deal right eventually in the next four or five years when you move into this beautiful

772
01:10:18,540 --> 01:10:24,320
new building well it'll be a beautiful refurbished building um you're going to tweak your enrollment

773
01:10:24,320 --> 01:10:30,740
up probably operate somewhere hopefully between 450 kids or you know maybe even towards 500 and you're

774
01:10:30,740 --> 01:10:35,080
going to grow on strength then I think that will help you hopefully meet the metrics to qualify at

775
01:10:35,080 --> 01:10:40,260
some point for the state credit enhancement program for charter schools so we're hoping to kind of

776
01:10:40,260 --> 01:10:45,560
get you in a position in this financing to get towards that and then be able to refinance

777
01:10:45,560 --> 01:10:48,680
and lock that rate in long-term at a lower rate.

778
01:10:49,900 --> 01:10:54,400
But I think the school probably realistically needs probably another four or five years

779
01:10:54,400 --> 01:10:57,600
of good operations and have that growth and then that can be feasible.

780
01:10:57,840 --> 01:11:03,460
So this financing is going to be contemplated to provide a ramp to that day too.

781
01:11:04,160 --> 01:11:16,220
And one other question I've asked this before but so last year at the end of the year we've got about 2.4 million in cash reserves.

782
01:11:17,040 --> 01:11:24,940
Do you think it'd be best to just keep that in cash reserve or to use some of that money towards the cost of the building?

783
01:11:25,820 --> 01:11:28,060
Yeah, that's a great question.

784
01:11:29,880 --> 01:11:36,600
Right now, so using your cash is actually difficult for a school to do because you can't

785
01:11:36,600 --> 01:11:41,680
really budget negatively after you're and just don't, but you know, and dip in your

786
01:11:41,680 --> 01:11:41,860
cash.

787
01:11:42,140 --> 01:11:45,780
So using it on a facility is one of the probably best and most efficient ways.

788
01:11:46,180 --> 01:11:47,240
Charter schools can do that.

789
01:11:48,120 --> 01:11:53,060
In this case, I think we'll look at putting, I can't remember what our numbers have, but

790
01:11:53,060 --> 01:11:59,020
probably looking at putting possibly some money in, but I will say investors right now are

791
01:11:59,020 --> 01:12:04,720
valuing schools with high cash balances. In this uneasy market they want to know that schools

792
01:12:04,720 --> 01:12:10,260
have a strong balance sheet, and so there seems to be a lean right now in the investment world

793
01:12:10,260 --> 01:12:16,160
of keep your cash available, you know, and there. So it's a bit tricky for a school, right? Because

794
01:12:16,160 --> 01:12:20,520
cash is just kind of a shiny, cool thing you put on a shelf, and yet schools have a hard time

795
01:12:20,520 --> 01:12:26,780
actually getting it off the shelf and using it, but in this case, I think that it will help

796
01:12:26,780 --> 01:12:32,480
the school find a loan that is, you know, a good fit. So we're going to try to find that balance,

797
01:12:32,620 --> 01:12:38,160
but I anticipate investors actually being able to willing to lend you kind of all of what you need

798
01:12:38,160 --> 01:12:50,500
and asking you to keep more cash on your balance sheet. Okay, I just, I don't know if we're on

799
01:12:50,500 --> 01:12:57,860
tree side. Last year we had to use a lot of money which was very hard to use towards

800
01:12:58,720 --> 01:13:06,320
paying off our previous landlord and lawyer bills and that kind of felt like a dagger in my heart.

801
01:13:07,600 --> 01:13:17,420
But now we've brought that cash reserve off again and through penny pinching, I guess.

802
01:13:18,660 --> 01:13:26,940
is the story. So we were excited to have that up there and it was funny because Roundtable

803
01:13:27,700 --> 01:13:35,280
said to Steve, no, I want your unrestricted cash on hand and he's like, that's what our

804
01:13:35,280 --> 01:13:36,800
unrestricted cash on hand is.

805
01:13:39,040 --> 01:13:41,460
Yeah, so that's great. I mean, I think that's a great

806
01:13:41,460 --> 01:13:45,520
part of the story, absolutely. And I think that's one of the reasons we

807
01:13:45,520 --> 01:13:51,060
approved from the Utah Finance Authority. I know not always do the teachers like us penny

808
01:13:51,060 --> 01:13:55,000
pinching, but it's really going to help us. I feel like.

809
01:13:59,470 --> 01:14:00,710
Okay, those are my questions.

810
01:14:02,330 --> 01:14:06,210
Anybody, any other board members have any questions for Brandon or myself?

811
01:14:09,080 --> 01:14:15,720
I do residential real estate and sometimes like when they're building a house,

812
01:14:16,240 --> 01:14:21,400
the price of lumber goes up and now the house becomes not affordable. What

813
01:14:21,400 --> 01:14:22,860
happens in a situation like this?

814
01:14:25,040 --> 01:14:26,460
Like if they're building and then something

815
01:14:26,460 --> 01:14:30,780
happens is there's shortage like what happens then? Yeah so that's the reason

816
01:14:30,780 --> 01:14:36,160
that I think both the school and the investor will want that GMP contract in

817
01:14:36,160 --> 01:14:41,820
place that's essentially the tool in your tool belt to say hey even if prices of

818
01:14:41,820 --> 01:14:46,780
wood or metal go up. What they're getting back are essentially firm bits from

819
01:14:46,780 --> 01:14:51,780
their subcontractors to provide you that. So they tend to hold that pricing for

820
01:14:51,780 --> 01:14:55,800
a period long enough. And sometimes to mitigate that they will take those long

821
01:14:55,800 --> 01:14:59,740
the items like oh I don't know switch equipment

822
01:15:00,000 --> 01:15:28,740
To our HVAC units or elevators, they'll order those way in advance so they can kind of lock in the pricing. This will be a repurposed building. So we do get some protection as far as like the big expensive outside stuff. But I think the answer that I would give you is the GMP contract that essentially protects you against kind of the movement of some of those supply items that have been involved for sure in the last several years.

823
01:15:29,660 --> 01:15:38,220
Yeah, with the GMP contract, it's the contractor that's taking that risk, the cost of goods or

824
01:15:38,220 --> 01:15:44,680
yeah, wood or whatever it is is going to go up. So yeah, it pushes that risk on to the contractor.

825
01:15:46,000 --> 01:15:50,860
And I think we're trying to have the GMP contract in place by September 18th.

826
01:15:51,820 --> 01:15:57,420
Yeah, I think that's right Rachel, good calendar item by you.

827
01:15:57,460 --> 01:16:00,480
Well, a little question, can we see the contract when you have it?

828
01:16:01,280 --> 01:16:02,280
Oh, yeah, for sure.

829
01:16:02,740 --> 01:16:03,700
Yeah, absolutely.

830
01:16:04,620 --> 01:16:06,900
I would expect you would want to see it and should.

831
01:16:07,360 --> 01:16:09,500
And again, that's being handled on the red apple side.

832
01:16:09,780 --> 01:16:14,960
So our scope of services doesn't contemplate that, but yeah, your building team and ultimately

833
01:16:14,960 --> 01:16:19,360
your board, you should definitely be briefed on that and know what it includes and know

834
01:16:19,360 --> 01:16:24,340
what you're getting for it, yeah. And I would also tell you what I would expect is the

835
01:16:24,340 --> 01:16:29,260
general contractor will have an allowance amount in that, probably two to three percent.

836
01:16:29,700 --> 01:16:35,200
And then I would also suggest that the school have an allowance of another two to three percent

837
01:16:35,200 --> 01:16:39,240
on that. And you can speak with Jeff about that, but you'll want an allowance on both sides.

838
01:16:39,700 --> 01:16:44,260
And that way, not so much of supplies, you know, get changed, but sometimes you're going

839
01:16:44,260 --> 01:16:47,840
to run into a situation where you're going to be like, oh, we discovered a pipe was here.

840
01:16:47,840 --> 01:16:53,920
And now we have to move it and we have to drill 40 feet of cement and you know, it's going to cost us $38,000

841
01:16:54,620 --> 01:17:00,500
So those allowances and so forth allow a little bit of cushion for realistic things that come up like that.

842
01:17:01,460 --> 01:17:10,760
So there is some cushion, you know, kind of built in usually around kind of five to six percent of the overall project for just unforeseen things that come up.

843
01:17:11,780 --> 01:17:16,480
And, you know, we're going to start having contractors and stuff come over to the building,

844
01:17:16,480 --> 01:17:21,520
like we'll have a phase one environmental come over on Thursday, you know, if any of

845
01:17:21,520 --> 01:17:27,360
the board members want to be there, you know, come, you know, hang out while we're doing

846
01:17:27,360 --> 01:17:29,060
that kind of stuff, that's great.

847
01:17:30,640 --> 01:17:39,360
I know that it was really good news because we were worried about the, like the earthquake

848
01:17:39,360 --> 01:17:46,920
seismic with the building and there's going to be a couple renovations to that but overall they

849
01:17:46,920 --> 01:17:52,380
said the building isn't very good shape and we won't have to do a lot of renovations that have

850
01:17:52,380 --> 01:17:59,640
to do with seismic things so they were waiting on that for a while. They just have to go in and add

851
01:17:59,640 --> 01:18:05,280
some few ties in certain places. And that's all in our weekly meetings and Kimber has been very good

852
01:18:05,280 --> 01:18:16,240
to attend most of those, both the construction meetings and the finance meetings, but other

853
01:18:16,240 --> 01:18:18,440
people kind of tend as long as we don't have a quorum.

854
01:18:22,180 --> 01:18:26,220
Yeah, and Megan, there's nothing more riveting than watching a phase one inspection take place.

855
01:18:26,400 --> 01:18:31,880
If you really want to ramp up the entertainment value, just over and see that happen.

856
01:18:31,880 --> 01:18:39,620
Well, I'm just saying, you know, like my co-says probably more interested in that kind of stuff because he's really real insane.

857
01:18:41,240 --> 01:18:46,340
And Kimber has been at our State Charter Board meetings and everything going on there.

858
01:18:46,560 --> 01:18:54,500
And it's always good to have a nice presence of board members, you know, seeing who we are and what we're doing.

859
01:19:01,160 --> 01:19:01,760
questions?

860
01:19:05,280 --> 01:19:09,260
Okay, thank you all. Thank you. So Brennan is this an

861
01:19:09,260 --> 01:19:15,300
actionable item? Are they? Yes, we need an action to prove the financing

862
01:19:15,300 --> 01:19:22,520
resolution. So as a preference, I talked to Shannon about this and she said

863
01:19:22,520 --> 01:19:29,760
when you go to approve things, policies or resolutions, you can approve them and

864
01:19:29,760 --> 01:19:34,860
say except for this or if you have something that wanted to be edited, like we said, and

865
01:19:34,860 --> 01:19:39,600
Rachel already sent that over, that it is corrected. You can do that, but like today we

866
01:19:40,380 --> 01:19:45,400
need to know if we approve this or not so that they can move forward, so we need to know

867
01:19:45,400 --> 01:19:51,500
that today. So you can approve it and also make amendments and still have it approved while

868
01:19:51,500 --> 01:19:52,840
we make those amendments.

869
01:19:54,580 --> 01:19:58,100
And Kim, right, I would just re-emphasize what Brandon said earlier, because I think it's

870
01:19:58,100 --> 01:20:04,440
important detail for the board. This is not a final commitment. This is really just a vote

871
01:20:04,440 --> 01:20:11,040
of sincere interest in the board moving forward and making kind of a public attestation that,

872
01:20:11,240 --> 01:20:17,780
you know, you're really pursuing this, but it is not like a non-revocable commitment. That

873
01:20:17,780 --> 01:20:21,960
will come later, but you'll have more information. You don't have all the final members at that time.

874
01:20:22,160 --> 01:20:23,160
It contracts and everything.

875
01:20:23,700 --> 01:20:23,840
Yeah.

876
01:20:26,940 --> 01:20:27,180
Okay.

877
01:20:28,360 --> 01:20:30,260
Jose and Megan, do you feel ready to vote?

878
01:20:32,040 --> 01:20:32,520
Yes.

879
01:20:33,900 --> 01:20:34,180
Okay.

880
01:20:34,180 --> 01:20:34,400
Yes.

881
01:20:34,680 --> 01:20:40,900
So, like we did before, we'll have to have, I'll ask for a motion, then I'll ask for a second

882
01:20:40,900 --> 01:20:42,880
and then we give time for discussion.

883
01:20:43,440 --> 01:20:45,400
Does the discussion become for the second?

884
01:20:46,640 --> 01:20:48,680
I think it comes after the second.

885
01:20:49,060 --> 01:20:49,600
That's what I thought.

886
01:20:49,600 --> 01:21:02,980
Okay, so and then after the discussed second of the motion, I will ask if we have any discussion if not and then I'll ask for all in favor and all against so then Virginia can record our votes.

887
01:21:04,920 --> 01:21:11,440
Without me having to say your name unless there are any negative votes, then we'll go through and make sure we know who those are attributed to.

888
01:21:14,260 --> 01:21:15,920
Any other questions on that procedure?

889
01:21:18,460 --> 01:21:24,920
Okay, let me shrink this and pull up my agenda so we can move to the action agenda now.

890
01:21:27,990 --> 01:21:31,990
All right, first on the action agenda, we have our positive behaviors planned.

891
01:21:33,150 --> 01:21:34,090
Do we have a motion?

892
01:21:40,110 --> 01:21:42,350
You guys can trade off or you decide how you want to do that.

893
01:21:42,650 --> 01:21:44,630
But one of you has the motion, one of you has the second.

894
01:21:46,310 --> 01:21:47,190
Go for it, Megan.

895
01:21:50,160 --> 01:21:52,480
What do exactly do I need to say for this one?

896
01:21:52,480 --> 01:21:56,420
I make a motion to approve the positive behaviors plan.

897
01:21:56,880 --> 01:21:57,000
Okay.

898
01:21:57,400 --> 01:22:00,100
I make a motion to approve the positive behavior plan.

899
01:22:01,340 --> 01:22:02,520
Do I have a second?

900
01:22:05,770 --> 01:22:06,930
It does have to be vocal, Jose.

901
01:22:12,040 --> 01:22:14,100
You're muted, if you don't know.

902
01:22:14,620 --> 01:22:15,500
I second the motion.

903
01:22:16,680 --> 01:22:17,700
Any discussion?

904
01:22:19,780 --> 01:22:20,180
No.

905
01:22:20,820 --> 01:22:21,920
All in favor?

906
01:22:22,720 --> 01:22:23,280
Aye.

907
01:22:24,780 --> 01:22:25,320
Aye.

908
01:22:26,420 --> 01:22:26,760
Aye.

909
01:22:33,580 --> 01:22:42,640
I have a motion for the Teacher and Student Success Act Plan.

910
01:22:44,860 --> 01:22:49,700
I motion to approve the Student and Teacher Success Plan.

911
01:22:51,020 --> 01:22:52,280
Do I have a second?

912
01:22:53,640 --> 01:22:54,800
Second motion.

913
01:22:56,080 --> 01:22:57,180
Any discussion?

914
01:22:59,870 --> 01:23:00,790
All right. All in favor?

915
01:23:00,790 --> 01:23:02,050
I.

916
01:23:04,460 --> 01:23:16,840
I. Any dissent. All right, passed unanimously. Do I have a motion for the enrollment policy including hybrid.

917
01:23:18,420 --> 01:23:23,680
I motion to approve the. What was it called again?

918
01:23:24,780 --> 01:23:26,500
The enrollment policy including hybrid.

919
01:23:26,840 --> 01:23:29,320
The enrollment policy including hybrid.

920
01:23:32,120 --> 01:23:32,800
Do I have a second?

921
01:23:53,090 --> 01:23:59,810
I have a motion for the proposed hybrid policy for the handbook.

922
01:24:00,950 --> 01:24:08,990
I motion to approve the policy for the handbook, the, sorry, what was it?

923
01:24:08,990 --> 01:24:10,610
It's okay, it's helpful if you pull up the agenda.

924
01:24:11,090 --> 01:24:14,530
I know, I'm on my phone now, and so I can't, yeah.

925
01:24:15,650 --> 01:24:17,530
Proposed hybrid policy for handbooks.

926
01:24:19,820 --> 01:24:20,480
You're muted.

927
01:24:24,640 --> 01:24:27,060
I'm having so many technical difficulties.

928
01:24:27,360 --> 01:24:28,900
Will you say the name one more time?

929
01:24:29,440 --> 01:24:30,080
So I get it right.

930
01:24:30,080 --> 01:24:32,620
Okay, Posea has a pulled up.

931
01:24:32,720 --> 01:24:34,680
Do you want to go ahead and present the motion?

932
01:24:34,840 --> 01:24:34,920
Jose?

933
01:24:35,400 --> 01:24:35,900
Thank you.

934
01:24:37,710 --> 01:24:42,170
I make a motion to approve the proposed hybrid policy for handbook.

935
01:24:43,710 --> 01:24:44,890
I second that motion.

936
01:24:48,900 --> 01:24:50,120
Any discussion?

937
01:24:53,700 --> 01:24:54,460
All in favor?

938
01:24:55,400 --> 01:24:55,800
Aye.

939
01:24:57,060 --> 01:24:57,400
Aye.

940
01:24:58,560 --> 01:24:58,840
Aye.

941
01:25:00,040 --> 01:25:00,460
All right.

942
01:25:00,620 --> 01:25:01,460
That passes unanimously.

943
01:25:02,440 --> 01:25:06,740
Do I have a motion for the instructional learner validated attendance policy?

944
01:25:12,020 --> 01:25:17,280
I make a motion to approve the instructional learner validated attendance policy.

945
01:25:17,920 --> 01:25:22,040
I second that motion. Any discussion?

946
01:25:24,460 --> 01:25:28,100
No. All right. All in favor?

947
01:25:29,240 --> 01:25:29,360
Aye.

948
01:25:30,200 --> 01:25:30,920
Aye.

949
01:25:32,660 --> 01:25:34,620
All right. That passes unanimously.

950
01:25:36,440 --> 01:25:57,560
So the next one as we discussed is we're going to vote on the resolution, authorizing the financing, and that will include the tax and disclosure compliance procedures, fiscal and debt management policies, the board succession policy and the risk management policy because it is embedded within that resolution.

951
01:25:58,460 --> 01:26:01,560
So we only have to make a motion for the resolution.

952
01:26:01,560 --> 01:26:02,700
I

953
01:26:05,030 --> 01:26:09,370
make a motion to approve the resolution authorizing the financing of the acquisition

954
01:26:09,650 --> 01:26:11,970
and construction of the school facility.

955
01:26:13,630 --> 01:26:14,950
I second that motion.

956
01:26:16,450 --> 01:26:17,430
Any discussion?

957
01:26:22,000 --> 01:26:22,820
All in favor?

958
01:26:24,080 --> 01:26:24,200
Aye.

959
01:26:25,740 --> 01:26:26,240
Aye.

960
01:26:28,400 --> 01:26:30,480
All right. The past is unanimously.

961
01:26:31,980 --> 01:26:37,380
All right. That is the conclusion of our board meeting. We do not have a

962
01:26:37,380 --> 01:26:38,200
closed session tonight.

963
01:26:41,100 --> 01:26:42,840
Thank you everybody for attending.

964
01:26:45,640 --> 01:26:46,640
Do we make a motion

965
01:26:46,640 --> 01:26:53,680
to close, right? Actually we at our board you can do whatever you want but we we

966
01:26:54,280 --> 01:27:04,020
Robert's rules I guess indicate that once your business is done you don't need a

967
01:27:04,020 --> 01:27:05,360
Thank you all, great to be with you.

968
01:27:05,820 --> 01:27:08,740
Appreciate your time tonight and all the good work you're doing.

969
01:27:09,540 --> 01:27:09,860
Thank you.

970
01:27:09,920 --> 01:27:12,360
Shea, yours, Clint, and also appreciate Brandon.

971
01:27:12,960 --> 01:27:17,500
He called and talked to me for a while today and not

972
01:27:17,940 --> 01:27:19,960
miffed about it at all and very helpful.

973
01:27:20,840 --> 01:27:22,760
And he said that we're welcome to call him

974
01:27:22,760 --> 01:27:23,680
and ask him with questions.

975
01:27:24,380 --> 01:27:27,240
But he's happy to help us with that as we go through this process

976
01:27:27,240 --> 01:27:30,060
that none of us are probably quite familiar with, so.

977
01:27:31,220 --> 01:27:32,800
Yeah, I'll just thank you.

978
01:27:32,800 --> 01:27:37,980
I mentioned that to you, but I'll reiterate it that our, well, first of all, I know

979
01:27:37,980 --> 01:27:45,020
though yours get a bad rap that we rack up billable hours, our fee is a fixed fee.

980
01:27:45,420 --> 01:27:51,320
So whether you ask zero questions or 100 questions, you will pay the same and it gets paid

981
01:27:51,320 --> 01:27:53,040
at closing from the bond proceeds.

982
01:27:53,460 --> 01:27:56,620
So really, we're here along with Clint.

983
01:27:56,760 --> 01:27:58,180
I know Clint will say the same thing.

984
01:27:58,580 --> 01:27:59,800
We're here to be a resource.

985
01:27:59,800 --> 01:28:06,260
we understand, we do this all day every day and it's what we do professionally, but we understand

986
01:28:06,260 --> 01:28:14,020
that for you this is the first time and maybe hopefully the only time. But there's a lot of words,

987
01:28:14,220 --> 01:28:20,980
a lot of things that are said or may come up that don't make a lot of sense or just you don't understand

988
01:28:20,980 --> 01:28:26,340
because you don't live in this world. So we're happy to answer any questions whether they seem really

989
01:28:26,340 --> 01:28:27,960
a simpler, basic, or whatever.

990
01:28:30,520 --> 01:28:32,280
And everyone works together.

991
01:28:32,400 --> 01:28:33,800
It's a very collaborative process,

992
01:28:33,840 --> 01:28:36,820
but we are the ones that are specifically engaged

993
01:28:36,820 --> 01:28:39,200
by the school to be your counsel,

994
01:28:39,460 --> 01:28:43,320
your attorney going through the financing process.

995
01:28:43,720 --> 01:28:46,200
So yeah, so don't ever hesitate to ask questions

996
01:28:46,200 --> 01:28:50,900
or to bring up something where we're happy to help

997
01:28:50,900 --> 01:28:51,780
and answer anything.

998
01:28:53,040 --> 01:28:55,220
And I also want to give a thanks to Clint.

999
01:28:55,220 --> 01:29:00,260
he helped us with the Utah Charter Financing Authority, getting all that in and helping us get

1000
01:29:00,260 --> 01:29:06,040
that approved. And then for Rachel, she helped with all the seventh grade, the hybrid, and the

1001
01:29:06,040 --> 01:29:11,120
finance authority. So, and besides all the other stuff she did. I wasn't expecting to speak

1002
01:29:11,120 --> 01:29:17,040
at the Utah Finance Authority. I think we're going to be doing all the speaking. You're great.

1003
01:29:17,780 --> 01:29:24,760
That was awesome. Thank you, team. I couldn't do this. Thank you all. Great to you with you.

1004
01:29:25,220 --> 01:29:27,980
Thank you. Thanks. Have a great night. Bye. Thank you.