InHisTiming already helped out so much, and I think you already have a great plan in place.
So, I'll just add that the binder portfolio you keep for the year can actually be graded overall too. Actually, many colleges are having dc prepare portfolios for entrance - you'll find a ton of information on "Preparing Your Portfolio for College Admissions", and also for job interviews, etc.. So, I love the portfolio concept at a young age. I feel it better showcases their year and provides more information about what they can really do than grades
can. I do understand the need for grades
if states require it, but you can easily assign a grade to the portfolio as a whole at the end of the year if you want. I had portfolios I had to turn in for some of both my undergrad and masters classes, and my entire grades
were based on the portfolios for those classes. Just thought I'd throw this out there - as the portfolio way of doing things was not around back when I was younger, and I thought it might be a new concept of grading for others on this board too.