Two Rivers Board of Trustees 5.10.22

May 10,2022

Agenda-May 10, 2022 Time Item Topic Purpose 6:00pm Roll Call ● Approval of agenda For information and 6:10pm ● Approval of minutes votes 6:40pm ❖ General Updates Executive Director Report For discussion and 8:00pm ❖ Executive Director information ● Retention & Overview Enrollment Update For discussion and information ❖ Governance ● Review Draft ❖ Academic Priorities for SY 23 For discussion and information Excellence Board Committee Reports For discussion and ❖ Development information ❖ Finance ● New Member For discussion and information Adjourn Discussion For information and votes ● General Updates ● General Updates ● Budget Approval ● Contract Renewal Approvals ● Contract Approval Vote This meeting is governed by the Open Meetings Act. Please address any questions or complaints arising under this meeting to the Office of Open Government at [email protected]. Bylaws Next meeting: ● June 14, 2022

April 19, 2022 Call to Order Vice-Chair Husser called the April 19th Meeting of the Two Rivers Board of Trustees to order at 6:09 PM via Zoom. Secretary Schlam opened the meeting by explaining that the meeting would be held per the Open Meetings Act and recorded. Roll Call Absent Board Members Present Aswathi Zachariah, Chair Present Malik Husser, Vice Chair Present Eli Schlam, Secretary Present Saumil Shah, Treasurer Absent Jenny Bradbury, Trustee Absent Kimberly Eddings, Trustee Present John Phillips, Trustee Present Derek Pierce, Trustee Absent Ahnna Smith, Trustee Absent Matthew Steenhoek, Trustee Present Penelope Thornton Talley, Trustee Present Theo Thompson, Trustee Kristina Kyles-Smith, Executive Director and Ex Officio Others Present Kenneth McCants-Pearsall, Chief Academic Officer Aurora Steinle, Chief of Staff Gail Williams, Chief Operating Officer Michelle Kimso, Executive Assistant Michael Murphy, Attorney Executive Director Report Executive Director Kyles-Smith started by sharing that Two Rivers is working towards reviving traditions. One such example is the revival of Mandatory Fun Day on April 6th. Chair Zachariah, Secretary Schlam, Trustee Bradbury, and Trustee Pierce all led events during the event, which was the first time all staff had been physically together in one space in about two years. Currently, Network Leadership is engaged in SY 22-23 planning and working on getting staff feedback to

inform several different decisions. Finally, Executive Director Kyles-Smith is working on completing goals for the coming year aligned with equitable outcomes. Approval of Meeting Agenda Secretary Schlam proposed amending the agenda to include a Closed Session under Open Meetings Act D.C. Code Section 2-575(b)(4)(A) to consult with counsel and obtain legal advice. The Closed Session would take place following the committee reports. The Board unanimously voted to amend the agenda to include the Closed Session. Board Committee Reports Governance Committee Secretary Schlam shared that the Governance Committee is focused on recruiting new board members and has received one candidate thus far. He encouraged Trustees to continue recruiting through their networks. Finance Committee Trustee Shah shared the planning process for the budget. There is a revenue increase of 5.9% UPSSF increase. The other revenue increase will come from the final year of increasing the Middle School by 6% enrollment. The budget for FY 23 is expected to meet expectations. The current draft budget for FY24 and FY25 needs further review to ensure that they are sustainable.. The Two Rivers team is working to build a more sustainable budget. Executive Director Kyles-Smith shared that they are working to understand the Middle School model, specifically the differences in what was set forth in the budget vs. what is currently stated as needs. The Two Rivers leadership team is committed to building a budget that showcases long-term sustainability. Development Committee Executive Director Kyles-Smith shared that the gala was held in person and had approximately 213 people in attendance. Over $100,000 was raised at the gala, and roughly $15,000 came from the raffle. The team is now closing out the final tasks from the gala, budgeting for next year, and continuing the process of onboarding new staff. Academic Excellence Committee Chief Academic Officer McCants-Pearsall shared the Annual Spring Academic Update, which is based on winter benchmarks. In Math data, there was a decline from the fall, however, the decline was less than the previous year. 46% of students met their growth goal, up 6% from last year. The percentage of PS and PK students at or above benchmark increased for almost every subgroup in math. The MAP data for math indicates a slight decline in the last two years over winter testing. The biggest gain in MAP data was with 7th graders, at 2% from last year. The most significant gap is the 3rd, 5th, and 8th-grade cohorts from the previous year. In MAP reading data, there was a decline from the fall of 4% this year compared to 7% last year. The percentage of ECE students at or above benchmark in Phonological Awareness increased for every group of students except SPED. However, 75% of ECE SPED students were at or above proficiency. 57% of students are meeting or

exceeding expectations for oral reading fluency. Successes since January include the new content director structure, phonological awareness in ECE, Skills Block implementation in K-2, and math proficiency on Bridges units. The Board of Trustees discussed concerns about SPED student achievement data. One of the contributing factors is SPED staffing challenges. Tutoring hours will be offered as comp-ed. Trustees encouraged staff to include academic goals, seek partnerships with human support, and report on the three dimensions of learning. Closed Session The Board of Trustees unanimously voted to move to Closed Session under Open Meetings Act D.C. Code Section 2-575(b)(4)(A) to consult with counsel and obtain legal advice. The Board of Trustees unanimously voted to move to Open Session. Adjournment The Board meeting adjourned at 7:41 PM. Prepared by: Submitted by: Michelle Kimso/s/ Eli Schlam/s/ Executive Assistant Secretary

____________________________________________________________________________ TO: Two Rivers Board of Trustees FROM: Kristina Kyles-Smith, Ed.D, Executive Director DATE: May 10, 2022 SUBJECT: Retention and Enrollment Update ____________________________________________________________________________ PURPOSE: The purpose of this Memo is to update the Board of Trustees on Two Rivers current staff retention and student enrollment numbers for SY 2022-2023. BACKGROUND/CONTEXT: Staff retention and student enrollment are the keys to our year-over-year stability. On April 8, eligible to return instructional staff were issued offer letters for the school year 2022-2023. In addition to our standard compensation package, this year, we were able to offer staff retention bonuses based on years of experience at Two Rivers. The bonuses range from $500 for employees who have only completed a partial year of service upto $2,500 for employees with 10 or more years of Two Rivers experience. To date, 96% of our 4th Street instructional staff, 95% of our Young ES staff, and 78% of our Middle School staff have signed their offer letters and have committed to returning. Offer letters for our 12-month employees were issued on April 29 with a signing deadline of May 13. In School Year 2022-23, we are seeking to enroll 1,067 students at Two Rivers. This number reflects the number of students we would serve if all classrooms/crews were at their intended class size and is smaller than our budgeted number of 1,057 students in the event we experience enrollment challenges based upon last year. Of the students we will ultimately enroll, we anticipate that approximately 196 students will be new to Two Rivers (e.g. Receiving new seats in Preschool and Pre-K or filling open seats due to attrition) and 871 will be returning students who are “re-enrolling” from last year. The enrollment process kicked off in early April with the support of our newly hired registrar, Asia Bell, and a temporary team of 15+ TR enrollment specialists who began reaching out to families. New families had until May 2, 2022, to accept their offer and enroll and returning families have until

May 20, 2022, to re-enroll before losing their seat. All families must complete residency verification paperwork and other critical forms in order to become “enrolled.” EXECUTIVE SUMMARY: Currently, our “match day” waitlists look very similar or slightly lower than last year - which was a low year compared with previous years. We are awaiting formal citywide data, but are hearing that this reflects the reality that the city overall has not rebounded from the pandemic dip. While initially our waitlists looked larger than in previous years, on “Match Day,” a number of families who appeared on our early waitlist ultimately were matched with a school higher on their list. Initial Waitlist Numbers - Young Campus Grade SY22-23 SY22-23 SY21-22 SY20-21 SY19-20 PS3 (Pre-Match Day) (Actual on Match 131 127 PK4 Day) 101 115 K 84 88 1 230 69 63 54 83 2 47 45 3 71 30 77 49 44 4 31 45 5 93 47 74 26 23 6 78 200 7 53 29 59 96 108 8 48 57 63 41 38 70 43 33 55 32 23 59 26 28 179 62 71 70 43 28 43 40 23

Initial Waitlist Numbers - 4th St. Campus Grade SY22-23 SY22-23 SY21-22 SY20-21 SY19-20 PS3 (Pre-Match Day) (Actual on Match 296 360 PK4 Day) 216 239 K 166 185 1 435 165 170 92 149 2 92 76 3 134 71 168 83 93 4 60 116 5 138 75 135 61 76 100 62 82 72 49 58 80 55 65 68 42 44 65 19 31 As of May 1, 87 new families and 235 returning families had completed the registration process for a total of 327 enrolled students. This rate of enrollment is approximately 100 students below past years’ progress so we are working with enrollment specialists to increase the pace of moving a family from “contacted” to “enrolled.” BUDGET SNAPSHOT: N/A ANTI-RACIST/INCLUSION IMPACT: This year Two Rivers participated in the inaugural offering of an “equitable access” (EA) preference and set aside 21 preschool seats (25% of PS3 seats at each preschool) for students who are qualified as “at-risk” by OSSE. In exciting news, we matched in the first round of the lottery with applicants for all 21 of our set aside seats. To date, the acceptance and enrollment of EA seats is higher than our non-EA applicants and we still have a short waitlist (15) to draw on should any of the initial 21 matches decline. For additional Districtwide context, please see the article linked below. RECOMMENDATION/RATIONALE: N/A

ACTION: (Describe the intended/requested outcome) For informational purposes only. ATTACHMENTS: Article on Equitable Access Preference in DC OSSE Update on Enrollment Trends C: Aurora Steinle, Chief of Staff Mary Gornick, Senior Director of HR

Board of Trustees April Committee Summary Committee Meeting Date Attendees Topics of Discussion Executive Committee 4/26 Ash Zachariah Finance Eli Schlam Committee Saumil Shah Matt Steenhoek Development Committee 5/4 Saumil Shah ● Contracts up for vote Academic Excellence Malik Husser ● Contract renewal for upcoming year Committee Matt Steenhoek ● TR SY 23 Budget Governance Committee Kristina Kyles-Smith Gail Williams Driss Belahcen Alex Mackey —-- N/A ● No meeting this month 4/3 Jenny Bradbury ● TR High-Quality Work 5/3 Derrick Thompson Ahnna Smith ● TR Credentialing Profile Jessica Profitt ● 3-dimensional academic review for board Margaret Troyer Kristina Kyles-Smith 4/5 Eli Schlam ● Legal Matters 5/5 Malik Husser ● Operational Governance Updates Ash Zachariah ● New Member Recruitment Aurora Steinle Kristina Kyles-Smith

To: Two Rivers Board of Trustees From: Kristina Kyles-Smith, Ed.D, Executive Director Date: April 19, 2022 Subject: Two Rivers School Year 2021-22 Budget (FY23) PURPOSE: The purpose of this Budget Memo is to request approval of the Two Rivers budget for the Fiscal Year 2023 (FY23). BACKGROUND/HISTORICAL CONTEXT Each year in the spring, the Mayor releases a proposed budget for the District, which is ultimately considered and approved by the D.C. Council. This year, the Mayor’s budget process was delivered in a timely manner and allowed our finance team to also create a proposed budget in a more timely manner. In February of 2022, Mayor Bowser announced that her proposed budget would include a 5.9% increase in the foundation amount of the uniform per-student funding formula (UPSFF) and several other encouraging increases. Building on the release of budgetary information from the mayor and the Office of the State Superintendent for Education (OSSE) regarding FY23 funds, Two Rivers has engaged in its planning process for the upcoming fiscal year. Two Rivers budget planning is led by Two Rivers’ Executive Director and Chief Operating Officer, who works with the Board’s Treasurer and other members of the Finance Committee to develop a strong budget proposal for consideration by the entire Board. After initial review and feedback, the budget is amended and returned to the board for a final vote. The approved budget must be submitted to the DC Public Charter School Board (DC PCSB). This year the approved budget must be submitted to DC PCSB by the end of July 28, 2022. EXECUTIVE SUMMARY: Two Rivers FY23 budget reflects continued priorities that we have engaged in for some time and new priorities that reflect the evolving needs of our program and students. Additionally, this budget begins to contract some of the staffing expansions made to accommodate in-person instruction during FY22. Two main budgetary priorities for this year include: 1. Middle School Expansion 2. Fair and Competitive Salaries for TR Staff 3. Recover full pre-pandemic staffing and Educational Model These continue to be non-negotiables moving forward. In addition, we are committed to significantly increasing equity and commitment to the beauty of our educational model in School Year 2022-23 in ways that allow us to fully recover from the impact of COVID-19. These include a continued commitment to:

1. Responding to the Need for Enhanced General Education Student Supports - Enhancing Tier 1 and 2 student supports to increase our ability to meet our mission and goal. 2. Responding to the Need for Enhanced Teacher Content-specific Feedback and Coaching - Creating roles and capacity to provide needed content support. The current budget reflects these priorities while reducing COVID-related staffing increasing and maintaining a strong financial stance. This includes: ● Maintaining step increases for assistant teachers and teacher leaders and COLA increases for non-instructional staff. ● Maintaining a healthy number of days of cash on hand. ● Ensure smooth spend down of COVID-Related grant funds Timeline ● April 19th – Finance Committee Submits Budget to the Board for First Vote ● May 10th – Final Board Vote on Budget ● By June 1st – Final Budget must be filed with PCSB RECOMMENDATION/RATIONALE: N/A ACTIONS: For discussion and the provision of Board recommendations ATTACHMENTS: Budget Report v 2.7 Budget Summary of Financials v2.7 C: Gail Williams, Chief Operating Officer Saumil Shah, Treasurer, Board of Trustees Treasurer

FY23 Budget Summary Budget version 2.7 Background & Trustee Responsibilities This presentation contains information about the proposed Two Rivers FY23 budget. Trustees are responsible for governing the organization. When making financial decisions, trustees should consider: 1. Does the decision benefit our students? 2. Does the decision make Two Rivers a better place to work? 3. Is this decision fiscally responsible? The board of trustees’ fiduciary responsibilities also include the review and approval of an annual budget before it takes effect. 2

FY23 Proposed Budget Executive Summary Two Rivers’ finance team worked with Dr. Kristina, budget managers, and EdOps to create this version of an FY23 budget. This budget more closely resembles our pre-pandemic operations with no anticipation of occupancy restraints. Consequently, FY23 includes a sunsetting of federal pandemic relief funding. QALICB Note for FY23: ● ST CDE A Loan: $2,040,600. Will be paid in Dec. 2022. ● CURE CDE A Loan: $4,081,200. Will be paid in Dec. 2022. ● ST CDE B Loan: $959,400. Will be forgiven in FY23. ● CURE CDE B Loan: $1,738,800. Will be forgiven in FY23. 3 Major Budget Drivers 4

Foundations of Budget Modeling ● Two Rivers’ 2022–2023 operational plan ● Expectation that COVID-19 occupancy constraints end ● Enrollment of 1,057 students by October 2022 count-date ○ Student enrollment increasing 6% from 997 to 1,057 ○ Final year of middle school enrollment expansion ● Staffing changes to accommodate operational changes ○ Staff level remains at 207 ○ Final year of middle school enrollment expansion ○ Elimination of 8 of 9 pandemic-related positions 5 Projections: Revenue Drivers ● QALICB loan forgiveness: $2.69 million ● 5.9% increase in UPSFF revenue (awaiting Council approval) ○ FY22 foundation level: $11,730 ○ FY23 foundation level: $12,419 ● New and carryover of pandemic-related funding ○ $717,349 of ESSER III carryover ○ $68,000 in new Emergency Connectivity Funds ● Increased development revenue projections ○ Increased Beyond the Basics target to $75,000 ○ $65,000 of private grant carryover (actual & projected) 6

Projections: Expense Drivers ● Final year of middle school expansion, including up to four instructional staff members: $355,224 7 Note on FY24 and FY25 Projections Adjustments made to FY24 and future fiscal years to improve revenue and reduce expenditures: ● Increasing projected enrollment from 1,066 to 1,078 ● Staffing Reduction ○ Three teaching positions ○ One assistant teacher position ○ COVID health and safety coordinator position 8

Budget Year Comparisons 9 Summary of Major Changes FY22 Budget FY23 Budget Change Value % November 2021 Proposal 9.7% 3.1% $26,388,512 March 2022 59.6% $23,306,898 (5.7%) Revenue $3,081,614 $28,936,940 $2,548,428 143.6% Ordinary Expenses $4,539,457 Net Ordinary Income ($1,457,843) $24,019,926 $713,028 Extraordinary Expenses Net Income $4,917,013 $1,835,399 $4,281,178 ($258,279) $635,835 $2,093,678 Changes to Cash FY22 (Reforecast) FY23 (Proposed) Change, $ Change, % Change in Cash ($788,316) ($83,883) $704,433 89.4% Ending Cash Balance $8,328,316 $7,989,724 ($338,592) (4.1%) 10

Relief Funding Summary Any unspent funds from FY22 will be carried over into FY23. Source (All COVID-19 Relief) FY20 FY21 FY22 FY23 CARES Act $59,148 $0 $0 $0 CARES Act II — $140,570 $0 $0 PCS Reopening Grant — $350,378 $0 $0 ESSER II (Initial & Supplement) — — $952,431 $0 ESSER III (Initial & Supplement) — — $1,434,698 $717,349* PCS Reopening Facilities —— $327,869 $0 ARP IDEA —— $41,121 $0 COVID-19 Positive Case Response — — $30,000 $0 Emergency Connectivity Fund —— $126,513 $68,000 Total: $59,148 $490,948 $2,912,632 $785,349 11 * = Projected carryover Changes to Key Performance Indicators 12

Key Performance Indicators Reforecasted budget - November 2021 13 Summary of Changes to Key Performance Indicators Indicator: FY22 FY22 FY23 FY24 FY25 Current March Projection Projection Projection Operating Financials Budget 83 (7%) Days of 108 117 112 96 Cash 0.82 Gross (6%) (6%) 2% (8%) Margin Debt Service 1.36 1.75 2.46 0.81 Coverage Ratio 14

Key Performance Indicators March 2022 15 Key Performance Indicators Projected FY 23 16

Financial Sustainability in FY24 and FY25 To improve key performance indicators (e.g., debt-service coverage ratio) in future fiscal years, we are looking at combinations of three primary approaches for a net financial improvement of $750,000: ● increase development revenue, ● restructure staff, or ● adjust the student-to-teacher ratio. In planning for these potential adjustments, the organizational leadership team, the Board and its committees will be engaged in conversations around the viability and impact of each approach. 17 Key Performance Indicators with $750,000 Improvement in FY24, FY25 Indicator: FY22 FY22 FY23 FY24 FY25 Current March Projection Projection Projection Operating Financials Budget Days of 108 117 112 107 104 Cash Gross (6%) (6%) 2% (5%) (5%) Margin Debt Service 1.36 1.75 2.46 1.10 1.10 Coverage Ratio 18

Budget Impact Area: Student Enrollment 19 Enrollment and Revenue Two Rivers’ primary source of income are universal per-student funding formula (UPSFF) payments based on student enrollment on our October 2022 count-date. Our projections about enrollment impact the budget planning process. Projected Enrollment UPSFF Shortfall Budget’s Projected in FY23 Contingency Rate Enrollment in FY23 1,057 0% 1,057 (full enrollment) Historically Two Rivers planned for a shortfall of between 0% and 1%. 20

Enrollment Summary by Grade Level FY23 Enrollment Projections FY22 Students Number of Current On Pace Progressing Seats Waitlist to Fill Grade? Number of % of Total to Next Grade Students Enrollment Offered 270 Yes 83 141 Yes PS3 84 8% 92 84 159 Yes 97 24 126 Yes PS4 94 9% 99 16 114 Yes 98 8 132 Yes K 100 9% 93 5 101 Yes 95 4 69 Yes 1 100 9% 95 11 97 Yes 101 17 66 Yes 2 100 9% 95 20 52 Yes 948 8 1327 — 3 100 9% 0 197 4 100 9% 5 95 9% 6 100 9% 7 95 9% 8 89 8% Total 1057 100% 21 Bond and Loans 22

Notes About the New Money Project Fund (“The Bond”) The New Money Fund ($1.2 million) must be expended by October 2023. The funds are released upon the earlier of A) delivery of a Completion Certificate or B) October 29, 2023. At such time, any balance remaining in excess of $100,000 would be used to Redeem Bonds (reduce Principal) and the residual applied towards Interest. Expenditures to Date: New Money Fund Period: Expenditures: Balance: $1,200,000 Starting amount: $417,065 $357,065 FY22, budgeted: ($782,935) $0 FY23, anticipated: ($60,000) FY24, anticipated - flooring ($357,065) 23 Notes about Loans Total of $2,698,200 will be forgiven in FY23: ● ST CDE B Loan: $949,500 ● CURE CDE B Loan: $1,738,800 This amount of debt forgiveness was established when these loans were negotiated in 2015. The forgiveness was based on the condition that Two Rivers renovate, open, and operate the DCPS-owned facility at 820 26th St. NE (the building that houses Young Elementary School). 24

Appendix 25 KPI: Days of Cash The FY23 budget includes 10 fewer days of cash than the February 2022 financials. Days of Cash: Details Two Rivers’ Daily Actual Ending Projected Ending Projected Ending Operating Cost: Cash Balance, Cash Balance, Cash Balance, June 2021 June 2022 June 2023 $71,504 $8,868,408 $8,073,607 $7,989,724 26

KPI: Gross Margin FY23’s current projected gross margin Calculating Gross Margin is 2%, compared to –6% in FY22. Gross margin is the difference between revenue and expenses, Operating at a deficit in this fiscal year divided by revenue. will result in the drawing down of “reserves” built up over time, namely $635,835 ÷ $28,936,940 net assets and cash balance. Key measurables like days of cash and debt Note: Expenses include both service coverage ratio (DSCR) are still ordinary and extraordinary forecast to be strong in FY23. (depreciation, amortization, and interest) expenses. 27 KPI: Debt Service Coverage Ratio ● At this time, there are ongoing conversations with Two Rivers’ lenders about removing the Young leasehold from our debt covenant calculations, which would positively affect our debt service coverage ratio in the eyes of our financial partners, even if this does not appear on DC PCSB records. ● Simplified, each $31,000 of new revenue or savings (or combination thereof) positively improves our DC PCSB DSCR indicator by 1/100th of a point. 28

IDX SY21-22 SY22-23 SY23-24 SY24-25 Reporting, v2.7 12,914,965 14,485,991 15,059,450 15,360,639 3,638,787 3,851,564 4,006,647 4,086,780 Two Rivers 230,635 363,040 223,534 264,503 269,793 Account 202,343 691,360 228,005 232,565 Revenue 698,170 - 719,292 733,725 235,277 3,681,506 State and Local Revenue 3,397,776 30,000 - - 4000 · Per-pupil alloc 30,000 16,021 3,871,042 3,991,045 4010 · Per-pupil SpEd alloc 14,461 4011 · Per-pupil SpEd ESY 21,494,817 23,210,611 - - 4020 · Per-pupil LEP/NEP alloc 16,829 17,250 4040 · Per-pupil At Risk 249,744 276,689 24,165,768 24,691,796 4050 · Per-pupil adjustment 72,100 80,471 4100 · Per-pupil facility alloc 25,609 290,651 297,918 4200 · Local grants 8,595 84,771 86,891 4210 · Local programs 253,018 280,316 26,377 27,036 State and Local Revenue Total 1,740 294,462 301,823 1,623 10,000 1,805 Federal Revenue 23,984 - 10,000 1,850 5000 · ESEA Title 1 952,432 10,000 5001 · ESEA Title 2 1,420,351 717,349 - 5002 · ESEA Title 3 363,636 - - - 5003 · IDEA 611 210,535 - - 5004 · IDEA 619 107,037 320,424 183,260 - 5005 · ESEA Title 4 43,873 118,585 124,569 183,260 5007 · CARES ESSER-II 20,000 51,059 127,683 5008 · ESSER III 33,145 48,606 23,276 52,335 5009 · ARP Facilties Grant. 126,513 22,158 38,574 23,858 5030 · Competitive federal grants 96,213 36,721 148,747 39,538 5100 · National school lunch prog 3,982,799 68,000 111,972 152,466 5101 · National school breakfast 106,593 1,389,524 114,772 5103 · Donated Federal Commodities 144,000 2,113,260 1,419,430 5110 · E-rate program 86,576 235,304 5111 · Emergency Connectivity Fund 20,000 224,000 100,757 241,186 5120 · Medicaid program 95,917 23,276 103,276 Federal Revenue Total 2,500 22,158 23,858 115,145 2,770 2,909 Private Grants and Donations 368,221 134,005 2,982 6020 · Foundation grants 127,568 496,251 137,356 6200 · Individual contributions 40,630 472,412 508,658 6210 · Corporate contributions 1,000 77,745 6220 · Foundation contributions 56,611 1,164 106,252 6230 · Special event contributions 60,000 1,108 82,400 1,193 Private Grants and Donations Total 4,135 60,000 4,812 4,581 112,613 Earned Fees 249,646 104,019 - 4,932 6400 · Paid meal sales - 2,698,200 - - 6420 · Student/parent fundraising 35,996 37,813 - 6430 · Student uniform sales 32,491 2,960,515 203,934 6500 · Short-term investments 387,902 38,758 6510 · Dividends & interest securities 148,336 155,822 263,749 6530 · Realized gains/losses 139,916 31,805 33,410 6560 · Miscellaneous revenue 30,000 189,232 159,717 Earned Fees Total 169,916 180,142 26,444,709 34,246 26,403,655 28,936,940 193,963 Donated Revenue 27,077,596 6700 · Donated services revenue 6710 · Donated tangibles revenue Donated Revenue Total Revenue Total

Expenses 1,116,022 1,157,885 1,192,621 1,222,437 Salaries 3,712,157 3,691,123 3,731,189 3,824,469 7000 · Leadership salaries 1,810,564 2,017,765 2,078,298 2,130,255 7010 · Teacher salaries 7011 · SpEd salaries 171,657 164,891 169,838 174,083 7012 · ELL teacher salaries 1,237,312 1,330,864 1,241,589 1,272,629 7013 · Specials salaries 7014 · Substitute salaries 128,379 109,488 112,772 115,591 7020 · Teacher aides salaries 1,089,145 1,300,233 1,339,240 1,372,721 7080 · Curricular stipends 7090 · Curricular bonuses 93,596 109,694 108,927 111,650 7100 · Student support salaries 155,360 172,122 180,807 185,328 7110 · Instr staff support salaries 1,706,697 1,602,976 1,651,066 1,692,342 7120 · Clerical salaries 469,293 347,631 358,060 367,012 7130 · Business, operations salaries 350,840 366,130 377,114 386,542 7140 · Maintenance/custodial salaries 785,701 833,486 809,883 830,130 7180 · Supplemental service stipends 146,484 153,005 157,596 161,536 7190 · Supplemental service bonuses 10,459 12,172 12,476 7280 · Program stipends 59,931 24,587 69,747 71,491 7300 · Executive salaries 189,634 66,397 220,695 226,213 7310 · Development salaries 745,809 225,093 797,596 817,535 7380 · Exec, dev stipends 283,257 774,365 305,672 313,314 7390 · Exec, dev bonuses 296,769 Salaries Total 6,265 6,941 7,291 7,473 Benefits and Taxes 5,220 5,783 6,075 6,227 7400 · Retirement plan contrib 14,273,781 14,757,229 14,928,249 15,301,456 7405 · DCPS Retirement plan contrib 7410 · Health insurance 544,000 590,289 597,130 612,058 7420 · Life and disability insurance 10,215 - - - 7430 · Section 125 plan 1,177,372 7460 · Workers' comp insurance 101,418 1,261,111 1,274,085 1,305,937 7500 · Social security & medicare 112,241 113,395 116,230 7510 · State unemployment tax 5,000 4,375 4,420 4,530 7520 · Transportation Tax 35,410 40,271 40,737 41,756 7550 · Universal Paid Leave Tax 1,068,813 7600 · Staff development (non-travel) 50,504 1,128,928 1,142,011 1,170,561 7610 · Staff development travel 54,549 53,505 53,505 Benefits and Taxes Total - 38,369 38,813 39,784 Contracted Staff 88,920 91,495 92,555 94,869 7700 · Substitute contract staff 160,759 185,122 189,750 7712 · Sup service contract staff 15,000 183,237 20,106 20,609 Contracted Staff Total 3,257,411 19,902 Staff-Related Costs 3,561,880 3,649,589 7800 · Staff recruiting 220,397 3,524,766 7810 · Staff background checks 38,136 157,570 161,509 7820 · Staff meals, events, & awards 258,533 150,000 49,313 50,546 7830 · Staff travel (non-development) 46,944 206,883 212,055 Staff-Related Costs Total 16,724 Rent 30,373 196,944 18,898 19,371 8001 · Deferred rent expense 34,322 23,958 24,557 Rent Total 18,706 41,905 42,952 Occupancy Service 4,198 23,714 4,349 8100 · Utilities & garbage removal 85,617 41,478 89,110 4,458 8110 · Contracted building services 4,305 91,337 8120 · Maintenance and repairs 55,973 88,202 - 8130 · Janitorial supplies 55,973 - - 8140 · Facility consulting fees 55,973 - Occupancy Service Total 374,627 55,973 442,785 787,719 912,752 453,854 224,297 429,888 307,373 935,571 24,047 886,167 14,147 315,057 10,000 298,420 14,500 1,420,690 - 13,735 1,677,056 - - 1,718,982 1,628,210

Direct Student Expense 200,000 246,637 259,083 265,560 9000 · Student supplies, snacks 63,046 58,731 61,695 63,237 9010 · Student assessment materials 70,000 72,334 75,984 77,884 9020 · Student textbooks 21,683 22,986 24,146 24,749 9030 · Student uniforms 82,394 76,479 80,338 82,347 9040 · Library & media materials 518,981 134,223 9050 · Contracted instruction fees 768,160 124,659 130,950 856,499 9051 · Contracted SpEd instruction 340,630 872,087 835,608 374,930 9060 · Food service fees 120,000 348,213 365,785 152,037 9070 · Student field trips 4,000 141,203 148,329 9080 · Student recruiting 4,013 9,152 9085 · Student events 20,000 8,500 8,929 8,614 9090 · Other student expenses 18,000 8,000 8,404 21,349 9091 · Translation services 61,299 19,828 20,829 18,228 9094 · COVID-19 Expenses 2,292,206 16,929 17,783 39,438 Direct Student Expense Total 36,628 38,476 2,128,248 126,906 2,053,214 2,076,339 Office & Business Expense 16,430 147,656 9100 · Office supplies 117,483 137,134 144,054 23,814 9110 · Copier rental & services 4,000 22,117 23,233 127,280 9120 · Telephone & telecommunications 5,669 9130 · Postage, shipping, delivery 113,049 118,210 124,175 1,732 9140 · External printing 234,334 1,609 1,690 4,644 9200 · Business insurance 191,473 4,313 4,531 135,703 9210 · Authorizer fees 40,000 265,689 9230 · Accounting, auditing, payroll 224,907 126,033 132,393 266,578 9240 · Legal fees 45,000 270,413 259,485 38,035 9260 · Computer support fees 156,139 247,582 260,076 275,384 9270 · Fundraising fees 4,000 97,566 9280 · Other professional fees 38,913 35,325 37,108 113,555 9290 · Other expenses 1,318,303 255,760 268,667 5,384 9300 · Dues, fees, and fines Office & Business Expense Total 104,409 90,613 95,186 - 104,409 105,464 110,786 1,503,019 Contingency 9900 · Unforeseen expenses 139,916 5,000 5,252 124,549 Contingency Total 30,000 - - 124,549 169,916 Donated Expense 23,236,839 1,419,573 1,466,636 159,717 9400 · Donated services expense 3,166,816 34,246 9410 · Donated tangibles expense 115,674 121,511 193,963 Donated Expense Total 115,674 121,511 24,923,198 2,154,398 Expenses Total 148,336 155,822 NET ORDINARY INCOME 31,805 33,410 Extraordinary Expenses 180,142 189,232 Depreciation and Amortization 24,019,926 24,316,896 11000 · Operating asset depreciation 4,917,013 11010 · Facility asset amortization & depreciation 2,127,814 Depreciation and Amortization Total 406,325 370,825 403,636 366,035 Interest 1,830,112 1,831,290 1,866,933 1,856,842 12000 · Interest payments 2,236,437 2,202,115 2,270,569 2,222,877 12020 · Amortization of deferred financing 12022 · Amort. of defer. financing - QALICB NMTC Loans 2,175,824 2,027,661 1,920,393 1,902,314 Interest Total 51,402 51,402 51,402 51,402 51,106 - - - Extraordinary Expenses Total TOTAL EXPENSES 2,278,332 2,079,063 1,971,795 1,953,716 NET INCOME 4,514,769 4,281,178 4,242,364 4,176,592 27,751,608 28,301,104 28,559,259 29,099,790 (1,347,953) (2,114,550) (2,022,195) 635,835

Cash Flow Adjustments 161,004 168,804 165,384 144,881 Add Depreciation 237,798 196,465 229,527 209,187 1700 · Accum depr FF&E 11,968 1720 · Accum depr computers 7,523 5,557 8,725 322,290 1760 · Accum depr other oper assets 320,226 321,405 336,493 1,534,552 1900 · Accum depr buildings 1,509,885 1,509,885 1,530,441 2,222,877 1910 · Accum amort lease imp 2,236,436 2,202,115 2,270,569 Add Depreciation Total (11,000) Operating Fixed Assets (185,000) (224,000) (22,000) (232,000) 1600 · FF&E (440,000) (166,000) (167,000) 1620 · Computers (14,974) (15,838) (16,215) 1660 · Other operating assets (639,974) (14,974) (204,838) (259,215) Operating Fixed Assets Total (404,974) Buildings (232,522) (400,000) (45,000) 1811 · Building-1227 (115,000) (19,000) (45,000) (10,000) 1812 · Building-1234 (347,522) (16,000) (445,000) (55,000) Buildings Total (35,000) Other Operating Activities 72,000 (60,000) - 1200 · NCLB receivable (131,505) 60,000 131,505 - 1220 · Supplemental grants receivable - (25,000) - 1260 · Medicaid receivable 53,975 - 1390 · Loan receivable - 25,000 - - 1420 · Deferred rent asset ST 6,241,162 - 17,896 2200 · Accrued salaries (296,581) 20,850 17,896 Other Operating Activities Total 67,244 - 67,355 Per-Pupil Adjustments 40,901 - 2400 · Unearned per-pupil revenue (234,867) 6,367,063 - - Per-Pupil Adjustments Total - Facilities Project Adjustments 0 - - 1042 · Capitalized Interest 0 - - - 1055 · Zion Project Fund (286F) 350,000 - 1059 · SunTrust Reserve x9414 400,000 - 34,894 - 1820 · Construction in progress (0) - - 1831 · Leasehold Improv.-Young 56,194 - - 1848 · Operating Lease Asset - Right of Use 56,194 - (370,000) - 2605 · ST CDE A Loan 0 - - 2606 · CURE CDE A Loan - - (595,000) 2607 · Tax-exempt Bond (1,124,064) (2,040,600) - - 2608 · ST CDE B Loan 369,833 (4,081,200) - - 2609 · CURE CDE B Loan - - (575,000) (136,518) 2611 · 2020 Bond Premium - (959,400) - - 2620 · Capital lease lia-facility (136,515) (1,738,800) - - 2702 · Senior debt cost - QALICB NMTC Loans - (136,518) (136,518) 34,641 2705 · Loan cost - 2020 Bond - - - 16,761 2706 · Underwriter's Discount (2020 bond) - - - (680,116) Facilities Project Adjustments Total (17,278) 34,641 34,641 1,246,442 Cash Flow Adjustments Total 51,106 16,761 16,761 (775,753) 51,402 (8,848,922) (645,222) 6,918,038 CHANGE IN CASH - (719,718) 1,042,863 (775,753) Starting Cash Balance (349,323) (83,883) (1,071,686) 6,142,285 Change In Cash 664,750 8,073,607 7,989,724 ENDING CASH BALANCE (683,202) (83,883) (1,071,686) 7,989,724 6,918,038 8,756,809 (683,202) 8,073,607

4567 Summary Financials (IS2), v2.7 Two Rivers Income Statement, Reconcilation to Cash, and Quick Analysis Income Statement SY21-22 SY22-23 SY23-24 SY24-25 - - Event -- 1,078 1,078 Students 997 1,057 Employees 99 100 97 97 Teachers 79 74 74 74 Other Curricular 35 35 34 34 General and Admin 213 209 205 205 Total Employees Revenue 21,494,817 23,210,611 24,165,768 24,691,796 State and Local Revenue 3,982,799 2,113,260 1,389,524 1,419,430 Federal Revenue Private Grants and Donations 368,221 472,412 496,251 508,658 Earned Fees 387,902 2,960,515 203,934 263,749 Donated Revenue 169,916 189,232 193,963 26,403,655 180,142 26,444,709 27,077,596 Total Revenue 28,936,940 Operating Expense 14,273,781 14,757,229 14,928,249 15,301,456 Salaries 3,257,411 3,524,766 3,561,880 3,649,589 Benefits and Taxes Contracted Staff 258,533 196,944 206,883 212,055 Staff-Related Costs 85,617 88,202 89,110 91,337 Rent 55,973 55,973 Occupancy Service 1,420,690 1,628,210 - - Direct Student Expense 2,292,206 2,053,214 1,677,056 1,718,982 Office & Business Expense 1,318,303 1,419,573 2,076,339 2,128,248 Donated Expense 169,916 180,142 1,466,636 1,503,019 Contingency 104,409 115,674 23,236,839 24,019,926 189,232 193,963 Total Operating Expense 3,166,816 4,917,013 121,511 124,549 Net Operating Income 24,316,896 24,923,198 Interest, Depreciation 2,236,437 2,202,115 2,127,814 2,154,398 2,278,332 2,079,063 Depreciation and Amortization 27,751,608 28,301,104 2,270,569 2,222,877 Interest (1,347,953) 1,971,795 1,953,716 Total Expenses 635,835 28,559,259 29,099,790 Net Income (2,114,550) (2,022,195)

Adjustments To Cash Flow SY21-22 SY22-23 SY23-24 SY24-25 Net Income (1,347,953) 635,835 (2,114,550) (2,022,195) Add Depreciation 2,236,436 2,202,115 2,270,569 2,222,877 Operating Fixed Assets (639,974) (404,974) (204,838) (259,215) Buildings (347,522) (445,000) Other Operating Activities (234,867) (35,000) (55,000) Financing Activities 6,367,063 67,355 17,896 Per-Pupil Adjustments - - Suspense 0 - - - Facilities Project Adjustments - - - Equity - - - Total Cash Flow Adjustments (349,323) (8,848,922) (645,222) (680,116) Net cash increase for year - - - - (719,718) 1,246,442 664,750 (83,883) 1,042,863 (775,753) (683,202) (1,071,686) Analysis SY21-22 SY22-23 SY23-24 SY24-25 Beginning Cash Balance 8,756,809 8,073,607 7,989,724 6,918,038 Net cash increase (683,202) (83,883) (1,071,686) (775,753) Ending Cash Balance 8,073,607 7,989,724 6,918,038 6,142,285 Available for Debt Service (1,347,953) 635,835 (2,114,550) (2,022,195) Net Income 2,236,437 2,202,115 2,270,569 2,222,877 + Deprecation and Amortization +(-) Decrease(Increase) of RNA 2,278,332 - - - +(-) Unrealized Losses(Gains) - +(-) increase(decrease) of accrued rent liabilities 3,166,816 2,079,063 1,971,795 1,953,716 + Interest 2,278,332 + Debt Service Reserve Fund 400,000 2,127,814 2,154,398 + Capitalized Interest Fund 287,216 5,317,013 2,565,548 2,056,911 2,038,832 Total Available for Debt Service 2,164,179 575,000 595,000 Debt Service 1.23 - 2,631,911 2,633,832 Interest 2,164,179 0.81 0.82 Principal 2.46 Total Debt Service 72,024 73,635 Debt Service Coverage Ratio (DSCR) 71,504 96 83 112 -8% -7% Daily Expense 69,905 2% Days of Cash 115 Gross Margin -5% Per-Pupil, with inflation effects removed

Per-Pupil Economics SY21-22 SY22-23 SY23-24 SY24-25 105% 103% 103% Inflation 21,559 Revenue 3,995 21,013 21,764 22,347 1,913 1,251 1,285 State and Local Revenue 369 Federal Revenue 389 428 447 460 Private Grants and Donations 170 2,680 184 239 Earned Fees 26,483 170 176 Donated Revenue 163 23,817 24,506 Total Revenue 26,198 13,445 13,848 Operating Expense 14,317 13,360 3,208 3,303 Salaries 3,267 3,191 Benefits and Taxes 186 192 Contracted Staff 259 178 80 83 Staff-Related Costs 86 80 - - Rent 56 51 1,510 1,556 Occupancy Service 1,425 1,474 1,870 1,926 Direct Student Expense 2,299 1,859 1,321 1,360 Office & Business Expense 1,322 1,285 170 176 Donated Expense 170 163 109 113 Contingency 105 105 2,045 2,012 Depreciation and Amortization 2,243 1,994 1,776 1,768 Interest 2,285 1,882 25,721 26,336 27,835 25,622 (1,904) (1,830) Total Expenses (1,352) 576 Net Income SY23-24 SY24-25 SY22-23 Per-Pupil Growth Analsis (Updated SY20-21) 4% 3% -3% -35% 3% Per-Pupil Economics Growth SY21-22 -52% 3% 16% 5% 30% Revenue 589% -93% 3% -4% 3% State and Local Revenue 2% -1% 4% -9% 3% Federal Revenue 96% -7% 3% -2% 1% 3% Private Grants and Donations 8% -31% 1% 3% -7% 5% Earned Fees 27% -10% 1% 3% 3% -100% 3% Donated Revenue 132% -19% 2% 3% -3% 1% 3% Total Revenue 11% -4% 3% 3% 0% 4% -2% Operating Expense 13% -11% 4% 0% Salaries 21% -18% 3% 2% Benefits and Taxes 836% -8% -6% Contracted Staff -19% 0% Staff-Related Costs -92% Rent 49% Occupancy Service 123% Direct Student Expense -9% Office & Business Expense 3233% Donated Expense Contingency 269% Depreciation and Amortization 22% Interest 26% Total Expenses

Balance Sheet Presentation (Do Not Delete) Balance Sheet SY21-22 SY22-23 SY23-24 SY24-25 ASSETS 3,681,347 3,653,658 2,966,865 2,191,112 Current Assets 4,391,256 4,335,062 3,950,168 3,950,168 8,073,326 1,747,164 1,700,660 1,700,660 Cash and Cash Equivalents 6,066,044 6,066,044 6,066,044 6,066,044 Restricted Cash 19,128,441 19,128,441 19,128,441 19,128,441 Accounts Receivable 41,340,414 34,930,369 33,812,178 33,036,425 Other Current Assets Intercompany Transfers 4,391,256.06 4,335,062.06 3,950,168.06 3,950,168.06 Current Assets Total 17,254,499 15,458,209 14,406,276 12,604,435 Noncurrent Assets 1,034,312 1,068,461 869,663 762,844 Restricted Cash 296,581 296,581 296,581 296,581 Facilities, Net 22,976,648 21,158,313 19,522,689 17,614,028 Operating Fixed Assets, Net 64,317,063 56,088,683 53,334,867 50,650,453 Rental Deductions Noncurrent Assets Total 396,743 396,743 396,743 396,743 TOTAL ASSETS 820,212 861,112 881,962 899,859 LIABILITIES Current Liabilities 0 0 0 0 Accounts Payable - - - - Accrued Salaries and Benefits 292,207 292,207 292,207 292,207 Deferred Revenue 1,509,162 1,550,063 1,570,913 1,588,809 Short-Term Debt Other Current Liabilities 45,183,716 36,227,198 35,515,680 34,784,162 Current Liabilities Total 6,142,845 6,142,845 6,142,845 6,142,845 Long-Term Liabilities (1,640,878) (1,589,476) (1,538,074) (1,486,672) Long-Term Debt 49,685,683 40,780,567 40,120,451 39,440,335 Other Long-Term Liabilities 51,194,845 42,330,630 41,691,364 41,029,144 Loan costs, Net Long-Term Liabilities Total 12,755,863 13,391,699 11,277,149 9,254,954 TOTAL LIABILITIES 366,354 366,354 366,354 366,354 NET ASSETS - - - - Unrestricted Net Assets Temporarily Restricted Net Assets 13,122,218 13,758,053 11,643,503 9,621,308 Permanently Restricted Net Assets 56,088,682 53,334,866 50,650,452 TOTAL NET ASSETS (0) (1) (1) TOTAL LIABILITES AND EQUITY 64,317,062 Diff (0)

EdOps Facility Analysis SY21-22 SY22-23 SY23-24 SY24-25 3,397,776 3,681,506 3,871,042 3,991,045 Facility Metrics 1,830,112 1,831,290 1,866,933 1,856,842 Facility Funding Depreciation Expense (reference) 1,420,690 1,628,210 1,677,056 1,718,982 2,227,226 2,079,063 1,971,795 1,953,716 Occupancy Expense (Cash Version) 8,956,518 Rent Expense (8000,8010, 8020, not 8001) 136,515 11,035,581 711,518 731,518 Occupancy Service Expense (81xx) 2,363,741 12,663,791 2,683,313 2,685,234 Debt - Interest (12000, 12010, 12020) 3,784,432 4,360,369 4,404,216 Debt - Principal (260*, 261*), Outlays only Debt Subtotal 26,403,655 28,936,940 26,444,709 27,077,596 Total Occupancy Expenses -926,039 -3,613,068 -889,418 -966,369 25,323,871 Public Revenue 25,477,617 25,555,292 26,111,227 Total Revenue 344.0% Less Private Revenue 111.4% 50.0% 112.6% 110.4% Total Public Revenue 14.9% 43.8% 17.1% 16.9% 14.3% 16.5% 16.3% Occupancy Expense/Facility Funding Revenue Occupancy Expense/Public Revenue Occupancy Expense/Total Revenue

____________________________________________________________________________ TO: Two Rivers Board of Trustees FROM: Kristina Kyles-Smith, Ed.D., Executive Director DATE: May 3, 2022 SUBJECT: Vendor Renewals for FY23 ____________________________________________________________________________ PURPOSE: The purpose of this board agenda item is to request approval of the renewal of FY23 contracts with vendors who were used in FY22. BACKGROUND/CONTEXT: Two Rivers works to confirm and renew service contracts annually and in alignment with the completion of the Two Rivers Budget Process. In preparation for FY23, Two Rivers seeks to complete the contract renewal process to ensure no disruption of service. Contracts previously procured in compliance with DC Public Charter School Board requirements are eligible for renewal without further procurement. Contracts estimated to have an aggregate value equal to or exceeding $25,000 over the course of the fiscal year require board approval according to Two Rivers policy. EXECUTIVE SUMMARY: Two Rivers used the services of the companies in the attached table in FY22. Rates for FY23 were solicited from each vendor and increased/decreased usage (if any) was considered. All listed contracts were previously procured in compliance with DC Public Charter School Board requirements and are therefore eligible for renewal without further procurement. All are estimated to have an aggregate value equal to or exceeding $25,000 over the course of the fiscal year and therefore necessitate board approval according to Two Rivers policy. BUDGET SNAPSHOT: See attachment for background/context/cost for each vendor. RECOMMENDATION/RATIONALE: It is recommended that Two Rivers continue to use all listed vendors. All continue to be effective, affordable partners.

ACTION: It is requested that the Board approve the renewal of these contracts. ATTACHMENTS: BoardMemoATTACHMENT_ContractRenewals_FY23_May 2022 C: Driss Belahcen, Senior Director of Finance Liz Riddle, Business Program Associate

FY23 ContractRen Contractor Services Rate Increase Alignstaffing Education Staffing Average rate increase of approximatel Agency 10%. (Dedicated aide rate increased b Conaboy & 8.6%, daily substitute teacher rate incr Associates, Inc. by 12%, and teacher assistant rate incr Delta-T Group by 9.5%). Rate increases are due to inc in minimum wage on 7/1/2022. Rate DC-Net increases are also designed to make Tw Rivers more competitive with other sc that Alignstaffing serves, so that work are more likely to choose our assignm over others. Physical Therapy (PT), No rate change. No significant usage Occupational Therapy change. This vendor will be used almo (OT), and Assistive exclusively for PT but will also meet a Technology (AT) overflow OT needs and perform occas Evaluations AT evaluations. SpEd Staffing Needs and Regular Education Subs 8% increase in rates Internet Connectivity Two Rivers receives discounted intern connectivity rates through the E-Rate program. This contract was procured through the E-RATE process during th SY20-21 bidding season; that contract allows for renewal and leverages the s

newals / May 2022 FY22 Cost FY23 Cost ly by reased reased crease wo Contract value depends on use of Contract value depends on use of chools services. Estimated year-end cost is services. Estimated cost is $733,640. kers $753,550. ments ost Contract value depends on use of Contract value depends on use of any services. Estimated year-end cost is services. Estimated cost is $74,000. sional $74,000. Contract value depends on use of Contract value depends on use of services. Estimated cost is $85,000. services. Estimated year-end cost is $80,000. net he Contract value depends on use of Cost (minus 50% E-RATE funding) t services. Estimated year-end cost is $22,588.82 same $36,000

The Hartford Workers’ discounted rate. The Hartford Compensation The Hartford Insurance No rate change. Premium increase is b Package Insurance on increase in reported payroll. The Hartford Umbrella Insurance 2.4% increase Student Accident Insurance negligible increase Premium increase of 20%. No rate cha TR has been paying the same premium several years, based on SY18-19 enrol numbers. Increased amount is due to updated enrollment numbers.

based $39,891 $34,434 $95,721 $5,801 $93,532 $5,657.70 $5,779 ange. m for llment $4,703.60

__________________________________________________________________________ TO: Two Rivers Board of Trustees FROM: Kristina Kyles-Smith, Ed.D, Executive Director DATE: May 10, 2022 SUBJECT: Chromebook Procurement for Replacemement Devices ___________________________________________________________________________ PURPOSE: This agenda item aims to seek approval for a proposal to procure replacement Chromebooks. BACKGROUND/CONTEXT: In 2015, Two Rivers’ implemented expanded student technology access as a part of its academic program. After reviewing and analyzing device options, Two Rivers concluded that the Chromebooks with an extended protection plan were the most affordable and sustainable technology option. The Chromebooks allow Two Rivers to offer students a one-to-one computing program in grades K-8 and a one to two computing program in PreSchool and PreKindergarten. EXECUTIVE SUMMARY: Two Rivers is seeking to purchase 170 Chromebooks and ten computer charging carts. Chromebooks have a life-cycle of 4-years before depreciating. The procurement schedule ensure devices are replaced when they reach the end of the warranty period. Devices purchased for the 2022-2023 school year are replacing devices procured in 2018-2019. Along with Chromebooks, it is time for Two Rivers to increase and replace classroom charging carts. Two Rivers issued a notice of intent to enter a contract on April 1, 2022, and placed advertisements in the DC Register, Washington Post, and Washington Informer for the acquisition of computer charging carts, Chromebooks, a 4-year accidental damage protection plan, and the required Google management license per device. Two Rivers received proposals from three vendors: ICT Resources, Trafera, and Marlor Company. All the proposals offered pricing for Dell Chromebooks and charging carts. Two of the three proposals offered the solicited 4-year accidental damage protection. The submitted proposal costs ranged from $47,964.90 to $82,400.

BUDGET SNAPSHOT: The total cost quoted by ICT was $73,989. Two Rivers will use Universal Service Administrative Company (USAC) Emergency Connectivity Fund (ECF). The fund supports schools and libraries’ efforts to ensure remote learning access for its students in need by acquiring broadband connectivity services and devices. USAC will reimburse schools up to $400 per laptop. ECF will cover $64,022 of the ICT Resources proposal., Two Rivers ask bidders to submit proposals as a bundle price, including the device, a 4-year accidental warranty, and a Google management license to ensure 100% of this procurement of devices were covered through ECF. ANTI-RACIST/INCLUSION IMPACT: ICT Resources is a small woman/minority-owned business established in 2008 in New Jersey. ICT Resources is a technology distribution company and can offer wholesale pricing. RECOMMENDATION/RATIONALE: Two Rivers recommends contracting with ICT Resources. They scored highest on our rubric compared to vendors offering our preferred Dell Chromebook brand and offered the second-lowest overall price. Malor Company’s proposal offered the lowest overall price but did not offer a 4-year accidental damage protection option. Malor Company’s proposal did not include the requested accidental protection coverage. Based on the remaining proposals, we recommend proceeding with the ICT Resources proposal for $73,989. The rubric considered price, product delivery, brand preference, and ICT Resources price is $73,989 for the preferred Dell Chromebook. ACTION: Vote on the Chromebook purchase contract. ATTACHMENTS: ICT Resources C: Gail Williams

____________________________________________________________________________ TO: Two Rivers Board of Trustees FROM: Kristina Kyles-Smith, Ed.D, Executive Director DATE: May 10, 2022 SUBJECT: Facilities Painting Procurement of Services ____________________________________________________________________________ PURPOSE: The purpose of this agenda item is to seek approval for a proposal to procure Two Rivers annual facilities painting services. BACKGROUND/CONTEXT: To maintain an aesthetically welcoming environment, Two Rivers annually paints or touches up its facilities. This yearly painting concentrates on highly visible areas such as classrooms and community meeting spaces. Given the scope of facilities projects and repairs over the summer, we have determined that our facilities staff cannot complete all of our painting needs. Therefore, we sought proposals for an outside contractor to paint all classrooms, offices, hallways, stairwells, and multipurpose spaces in each building. EXECUTIVE SUMMARY: Two Rivers is seeking an experienced general contractor or professional painting service with the capacity to paint all four buildings. The vendor selected for this project must complete the project between the end of June and the beginning of August and have the ability to work around the Two Rivers summer program and staff orientation. Two Rivers issued a notice of intent to enter a contract on April 1, 2022, and placed advertisements in the DC Register, Washington Post, and Washington Informer. Two Rivers received one proposal from M&M Contractors, LLC for $89,900. BUDGET SNAPSHOT: Two Rivers budgeted approximately $100K for the cost of annual facilities painting. The estimated budget considered the expansion of property with the new middle school and Young elementary north extension.

ANTI-RACIST/INCLUSION IMPACT: M&M Contractors LLC is a small minority-owned business that has previously performed general contractor projects for Two Rivers since 2017. RECOMMENDATION/RATIONALE: Two Rivers recommends contracting with M & M Contractors, LLC. They were the only bid submitted and have a proven track record of professionally completing summer blitz projects for Two Rivers on time and within budget. ACTION: Vote on the general contractor for painting services. ATTACHMENTS: M&M Contractors LLC C: Gail Williams

Proposal # 29200 April 21, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 820 26th Street, NE Washington, DC 20002 Work Performed: - Work inside school “Two Rivers Public Charter School” paint 18 classrooms, paint 1 gym, paint one (1) stairwell. No hallways paint included. All labor and materials included. Total: $19,800. All labor and materials included. Clean up after work completed. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $19,800. All the above work to be completed in a workmanlike manner for the sum of $19,800. Note: A deposit of $9,800. is requested before any work starts. TOTAL AMOUNT DUE: $19,800.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal #07880 April 21, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 830 26th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint 1 gym, 18 classrooms, 1 stairway. Hallways paint are not included in this proposal. All labor and materials included. Clean up after work completed. Total: $19,800. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $19,800. All the above work to be completed in a workmanlike manner for the sum of $19,800. Note: A deposit of $10,400. is requested before any work starts. TOTAL AMOUNT DUE: $19,800. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal # 5788 April 21,2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 1227 4th Street, NE Washington, DC 2000 Work Performed: - Work inside the school “Two Rivers Public Charter School” paint inside 19 different classrooms and paint 2 stairways. Hallways are not included in this proposal scope of work. All labor and materials included. Clean up after work completed. Total: $19,200. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $19,200. All the above work to be completed in a workmanlike manner for the sum of $19,200. Note: A deposit of $9,600. is requested before any work starts. TOTAL AMOUNT DUE: $19,200.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal # 4551 9 (revised) April 22, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 1234 4th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint different classrooms, paint gym, and paint 2 stairways. Hallways paint are not included in this proposal. All labor and materials included. Clean up after work completed. Total: $14,500. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $14,500. All the above work to be completed in a workmanlike manner for the sum of $14,500. Note: A deposit of $7,250 is requested before any work starts. TOTAL AMOUNT DUE: $14,500.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.

Proposal #2022 April 26, 2022 M&M Contractors, LLC Marco Gomez, President 8222 Tahona Drive Silver Spring, MD 20903 Phone: 240-481-5912 Company Fax: 301-637-3450 Bill To: Two Rivers Public Charter School Attn: Gail Williams 820 26th Street, NE Washington, DC 20002 Work Performed: -Work inside school “Two Rivers Public Charter School” paint different hallways. All labor and materials included. Clean up after work completed. Total: $4,800. Included Warranty Period: M&M Contractors, Inc. warrants all labor and materials for a period of one (1) year. Responsibility is limited to the supply of labor and materials to correct the defective condition. This warranty specifically excludes damages caused by accident/abuse or weather conditions such as excessive moisture, defective building materials or faulty workmanship by others. Change orders: Work crews are not authorized to complete work beyond the detailed specifications without a written and signed change order. Please contact M&M Contractors, Inc. for an estimate on any additional work. Cost: $4,800. All the above work to be completed in a workmanlike manner for the sum of $4,800. Note: A deposit of $2,400. is requested before any work starts. TOTAL AMOUNT DUE: $4,800.00. ACCEPTANCE: This agreement is not valid until signed by Contractor and Client. Signature indicates agreement herewith, including any adjustment in the Contract Total and Contract Time. _______________________ ____________________ Client Date _______________________ ____________________ Contractor Date Payment: Please submit the full payment at the address above (we accept checks, money order, or cash). Thank you for your business! Looking forward to serve you again.