For K3–6, the report card concludes the quarter 1 grades. Quarters are averaged for a final, year-long grade.
For 7–12, the report card represents a kind of screen-shot of current (mid-term) grades for the semester. A student’s assignments and grades continue to be added to the gradebook until the end of the semester for a semester grade. For middle school classes the semester grades are averaged for a year-long grade. For high school classes, grades and credits are by semester, not by year.