Work Session
Odyssey Charter School
6201 Noble Ave. N.
Brooklyn Center, MN55429
December 10, 2002
4:30 P.M.

The work session was called to order at 4:40 p.m. in the media center.

Attended: Lori Bona, Rick Wolf, Jeni Holm, Lyle Clemmenson, Stephanie Dess, Mary Beth Frank, Ed Kossmann, Steve Dess, Scott Fleming and Joni Anderson

Absent: Nathan Disch

The reason for the meeting was to discuss with MACS the Walton Grant. The committee wanted more information before approving the school for a grant of $72,000.

MACS received 41 applications and 24 were approved with some of these requiring more information before final approval. MACS was trying to get funds to existing schools. Usually funds are only given to start up schools.

MACS realizes we are in transition. This grant may be a 3-4 year relationship with Walton and possibly $250,000 available. MACS is the intermediary between Walton and the school. Walton will not grant funds to schools in financial trouble or unstable leadership. Walton has asked MACS to find out our viability in these areas.

$72,000 was the most granted to any existing school.

The cash flow was reviewed. It was noted that there will be a mid year Special Education billing done in January with receipts expected in March. We have not received any title monies even though we are entitled to $35,000. Steve Dess stated that the state has not released these funds yet.

Steve suggested that the board ask questions about the cash flow at the meetings. Talk about upcoming budget changes and revise a budget in Jan/Feb. We need to be actively recruiting students and lease the empty space.

Lyle Clemmenson said the two landlords are aware of our situation and are willing to work with us.

The Walton budget was reviewed. Several items were omitted. The science equipment was eliminated since we were awarded the Medtronic grant. Some monies were redistributed to help with the transition of administration and board.

Mary Beth Frank was directed to send the cash flow with explanations, the revised Walton budget and a letter from Lori Bona to Steve Dess on 12/11/02. It is expected that the school will receive this grant with funds mailed to the school in January 2003.

The meeting was over at 6:15 p.m.