The Board of Directors met twice this past week — on June 15 and 19 — to cover a large range of items before the end of the school year.
The following discussions and decisions took place over the course of the two meetings:
Transitions on the Board of Directors
At its two meetings this past week, the Board of Directors made progress towards its goal of gradually transitioning to a Board with more external expertise and perspectives.
The Board heard recommendations from Peter Laub, COO of EdTec, on “Board Structure and Gap Analysis,” which stemmed from a decision at the May meeting and were based on interviews among current and potential Board candidates. His findings and recommendations addressed the timeline for transitioning founders, the overall size of the board, the need for accountability and time for strategic, long-term thinking.
After considering these recommendations, the Board made a number of decisions about board transition. As of July 1, 2012, there will be three new members of our Board, each beginning two-year terms. The Board ratified Carina Wong to a parent-elected seat after winning the parent election this past month. James Mink was selected by the Board to fill the seat vacated by the resignation of original founder and Board member Melissa Tom. These two will be joined by Ted Rebholz who was elected to the Board earlier this spring.
The Board also elected Josh Stern to a two-year term starting October 1, 2012, to fill a seat to be vacated by original founder and Board member Wynee Sade.
Finally, the Board decided to request permission from ACOE to enable us to expand the size of the Board in the future, which was one of the recommendations from EdTec. Expanding the Board will enable additional capacity and more members to fill the many different important roles that Board members must play.
We want to thank Melissa Tom for her passion for creating an academically rigorous Mandarin immersion education in the East Bay, and for starting us on the Yu Ming journey. We wish her and her family well during their time in China.
Finance and 2012-13 Budget
Yu Ming is closing the fiscal year in a strong financial position, and the Board formally approved the school budget for the 2012-13 school year. Our budget for 2012-2013 assumes conservative ADA estimates and fund raising targets per student based on our actual results from this year. Our budget includes all current administrative and teaching positions plus 2 new teachers for our additional 2 classes and another full time Teaching Assistant. In addition, our budget plans are to maintain our added, supplemental resources from this year into next: Physical Education and music instructors once a week, a school counselor and a Mandarin curriculum consultant. If Governor Brown’s tax proposal passes this November, Yu Ming could receive additional state revenues to help fund additional services and resources.
Given both our solid financial footing and the unique and significant contributions that our staff have made to get Yu Ming off the ground in its first year, Treasurer Wynee Sade recommended — and the board approved — one-time bonuses for all of our tremendous and hard-working staff. Thank you to all of them for creating a great foundation and successful first year for Yu Ming!
Fund Development: Reflections and Recommendations
Fund Development chair Matthew Sade presented an overview of fund development from the past year and an initial plan and recommendations for the 2012-13 school year. There was some preliminary discussion around how likely we are to continue our first year fundraising successes, what skills are needed for a fund development chair and what the role of the Board is in fund development. The Board will continue to discuss its engagement on fund development and the Parent Action Group will include fund development on the agenda of the September PAG meeting.