By Jackie Burhans
- Board members sworn in, positions assigned
- 2024-25 budget re-adopted
- Modular purchase
- Major Gifts and Corporate Sponsorships program
- Highlights
Monument Academy (MA) held its regular meeting in June to swear in board members and assign board positions, re-adopt the 2024-25 budget, approve the purchase of its East Campus modulars, and update policies.
Board members sworn in, positions assigned
Board President Ryan Graham swore in returning board member Lindsay Clinton and incoming board member Jelinda Dygert. Clinton’s second term and Dygert’s initial term begin on July 1. The board discussed, nominated, and confirmed members for the following positions:
- President Ryan Graham
- Vice President Lindsay Clinton
- Treasurer Craig Carle
- Secretary Jelina Dygert
2024-25 budget re-adopted
Acting Chief Financial Officer Glenn Gustafson requested that the board re-adopt the 2024-25 budget. This was not an amendment, he said, but a replacement for the budget they adopted last month. He said he had the final information on staffing for the Home School Enrichment program and wanted to appropriate the money to buy out the modular units. Finally, given that MA has adopted new health benefits he wanted to put the Health Reimbursement Agreement money into the right account. Although he had already posted the budget and submitted it to D38, he let Chief Business Officer Brett Ridgway know there would be changes.
Graham made the three standard budget motions for appropriating funds, inter-fund borrowing, and using beginning balances, which the board unanimously approved.
Modular purchase
Gustafson noted that MA had entered into a lease agreement rather than a lease-purchase agreement for four modular units. The units are essential, he said, and are combined to make four classrooms. The lease conditions are not favorable, Gustafson noted, saying that the rental cost of $52,000 per year was significant and could increase annually and there was no option to buy. The space will always be used, he said, even after the expansion of the campus. After negotiations, he came to an agreement with the vendor to purchase the modular units for $175,000, which would take three years to pay off.
Graham said that when the lease was approved in 2022, it was supposed to be short-term while they refinanced to do the buildout, but that had not happened. Though he understands it’s a lot of money, even when MA breaks ground it would take 12-18 months to complete construction.
Gustafson said his goal was to cut a check in the first week of July so that MA would have no lease payments in FY24-25. The board unanimously approved the purchase of modulars.
Major Gifts and Corporate Sponsorships program
Executive Director Collin Vinchattle said he received a lot of feedback that the MA community would like to expand facilities, high school programs, and electives. He and Gustafson are working with the administration on a five-year capital improvement plan. He said that bond refinancing would not be able to cover all projects.
Vinchattle requested the board consider a donation coordinator position to focus on large gifts to MA. This person would reach out to donors, keep legacy donations moving forward, and possibly run a capital campaign. He noted that MA could consider different compensation structures from a percentage to a base salary plus percentage and the position could be evaluated semi-annually. He said things to consider include the initial cost, role clarification, definition of a major gift, and end goals.
Graham asked Vinchattle and Gustafson to explore this and bring back a proposal. He expressed appreciation for Operations Manager Jake Dicus and all he has done over the years and appreciates that these two roles would work collaboratively. Vinchattle said he would touch base with each board member to gather their input.
Highlights
Board meeting highlights include:
- Carle and the entire board recognized outgoing interim Executive Director Kim McClelland. Carle presented McClelland with a certificate and gift. McClelland thanked the board for the opportunity to serve in her own backyard.
- Vinchattle reported on the excitement of the first graduation from Monument Academy’s East Campus, which included 21 high school students. He noted that it was a beautiful day on the school’s front lawn, with speeches by Graham and valedictorian Scott Kohlhase.
- Vinchattle reported that the secondary school administrative team was in place with Angela Duca as principal and Jessie Davis as assistant principal.
- The board approved changes to Policy 1500B Executive Director to update the position title, noting it would not be renumbering the policy. It also approved Policy 1500C Chief Financial Officer, removing the information on procurement, which has been moved to a separate policy.
- Finance Director Laura Polen presented the April financials, highlighting three streams of revenue that are still outstanding. She reviewed expenses and revenues highlighting the general fund, bond repayment funds for each campus, and the student activity fund.
- Graham confirmed that construction on Highway 105 and around the West Campus should be completed by the time school starts in August. However, construction on Highway 105 itself will continue.
- The board unanimously approved a resolution to change the authorized signatures for its ColoTrust account to add Polen. It also approved signature authorizations for its Integrity Bank accounts to add Polen and Business Manager Diane Smith.
- The board unanimously approved a contract with Gustafson as interim CFO for fiscal year 24-25.
- The board unanimously approved a contract with the Monument Police Department for school resource officers with a small price increase and other changes to reflect the makeup of each campus.
- Vinchattle asked to delay the vote on the MA/D38 contract until the July board meeting to give him more time to review the contract since he was new in his position. The board agreed to wait for the vote.
- The board voted unanimously to approve a contract with All Copiers, its current company, upon the recommendation of Dicus based on the negotiated cost per copy and the relationship established with the company.
- The MA board will hold a retreat on July 12 at 9 a.m. in the Platinum Group conference room.
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The MA School Board meets at 6:30 p.m. on the second Thursday of each month. The next regular board meeting will be on Thursday, July 11, at 6:30 p.m. at the East Campus. For more information, visit bit.ly/ma-boe.
Jackie Burhans can be reached at jackieburhans@ocn.me.
Other Monument Academy articles
- Monument Academy School Board, Sept. 12 – Board discusses parental review of library materials, adopts management system (10/3/2024)
- Monument Academy School Board, Aug. 8, 16, and 29 – Board sets non-legal name change policy (9/7/2024)
- Monument Academy School Board, July 11 – Board resolution related to Title IX (8/3/2024)
- Monument Academy School Board, March 10, 14, and 21 – Board selects executive director candidates (4/6/2024)
- Monument Academy School Board, Feb. 8 and 22 – Board passes parental rights policy 6-1; member resigns (3/2/2024)
- Monument Academy School Board, Jan. 5 and 11 – Board discusses the financial risk of parental rights policy (2/3/2024)
- Monument Academy School Board, Dec. 14 – Board hears about midyear budget, enrollment/retention, fundraising plans (1/6/2024)
- Monument Academy School Board, Nov. 9 – Board hears first read of gender transition policy, plans to address East Campus budget issues (12/2/2023)
- Monument Academy School Board, Oct. 5 and 26 – Enrollment shortfall causes budget challenges (11/4/2023)
- Lewis-Palmer D38 Board of Education, Oct. 23 – Monument Academy annual report; enrollment and financial update (11/4/2023)