Noble Network of Charter Schools board review finance report
The Noble Network of Charter Schools Board of Directors met July 6 to review the finance report.
Here are the meeting's minutes, as provided by the board:
Board of Directors Meeting Minutes
Monday June 6, 2016- 12:00pm
Katten Muchin Rosenman LLP
525 W. Monroe Street
Chicago, IL 60661
Mr. Muchin called the meeting to order pursuant to the public Notice.
The following members were in attendance:
Agenda Item 1. Public Comment
Agenda Item 2. Approval of Minutes from 3.7.16
Ms. Mueller moved to approve the previously circulated minutes from the March 7, 2016 meeting. Mr.
Ratliff seconded the motion. The motion was adopted by the unanimous vote of the board.
Agenda Item 3. Committee reports
A. Executive Report
Mr. Muchin announced that Archana Kumar would be joining the board. Ms. Kumar is the Chief Financial
Officer of Wealth Management at The Northern Trust Corporation and previously worked for both HSBC
and General Electric. Mr. Muchin moved to appoint Ms. Kumar onto Noble’s Board of Directors. Mr.
Harris seconded the motion and it was adopted by unanimous vote of the board.
Mr. Milkie introduced the board meeting dates for the 2016-2017, which include September 19, 2016,
December 5, 2016, March 6, 2017, and June 5, 2017. He also addressed the state budget crisis and
invited the Board of Directors to attend a Fight For Students Rally on Thursday, June 9, 2016.
Mr. Niksch presented the College Report and informed the board that there are over 1,800 graduates in
the Class of 2016 and 99% were accepted to college. He discussed the importance of students
matriculating to schools that will best support them as they earn their degree and as a result, this cohort
of seniors has the highest projected college graduation rate for Noble alumni to date. Mr. Niksch
answered questions from the board.
The Principal Spotlight featured Jennifer Reid from Rauner College Prep. She discussed the mission of
her campus, which is focused on strengthening our city today by empowering the college graduates of
tomorrow. Ms. Reid also discussed the impact of strong curriculum on the academic success of her
scholars, such as AP courses and a STEM Honors Program. She informed the board that she places a lot
of emphasis on strategically planning for the future and also values staff diversity.
B. External Affairs report
Ms. Brewer presented the External Affairs Report and discussed the importance of building a coalition of
Noble champions to advocate on behalf of our students. She updated the board about the state of
legislation in Springfield and informed them that Noble students have become active in the fight for
equal state education funding. Ms. Brewer also discussed the proactive fundraising and communications
work being conducted by the External Affairs team, while answering questions from the board.
C. Audit & Finance Committee report
Mr. Drago presented the Finance Report with updates about revenue and expenses as Noble
approaches the end of FY16. He informed the board that despite budget cuts this year, Noble is on track
to end the fiscal year in a good position due to conservative financial planning. Furthermore, Mr. Drago
informed the board that Noble has not received information from CPS regarding FY17 funding and is
preparing for various outcomes. Mr. Drago also answered questions from the board.
D. Facilities Committee report
Mr. Madden presented the Facilities Report and informed the board that the 2015-2016 capital plan is
nearly complete and is coming in on budget. He also shared that Noble broke ground on the Mansueto
High School campus and that students will incubate in a temporary location while the school is built.
Agenda Item 4. Other Matters
Meeting was adjourned by Mr. Muchin at 1:22pm.
Recorded and submitted by
Interim Clerk of the Board