Community Update - 4/7/2009

Dear ISM parents,

At last night's meeting our ISM Board of Directors explained how the State's financial crisis has affected and continues to affect ISM. The State has cut some of the revenue that we were to receive this school year. The State has deferred payments that ISM was to receive in February until July and funds we were to receive in July, August and September are being deferred until October.

ISM's financial obligations and the date each is due remain the same.
To meet the challenge:

• The Board froze all nonessential expenditures in December.
• At the request of the Board the Foundation energized the ISM community and successfully raised the level of Family Share donations.
• The Board successfully negotiated a bridge loan.

The Board made it very clear that we must continue to look for ways to create new sources of funding for ISM and it asked for the ISM communities' help.

Some very good news was shared at last night's meeting. ISM is not moving. The Board has been in negotiations with MPUSD for several months now. The District presented ISM with a letter on Friday stating that it was their intent that we stay at the Manzanita Campus through the end of the 2010-2011 school year.

Negotiations with the district will continue to determine the number of classrooms that we will have for all of our programs.

Sincerely,

Eric Pearlstein
Interim Executive Director
(831) 583-2165
epearlstein@ismonterey.org