Nancy Smallenberger

The board accepted a donation from Mr. Stephen Eastridge and approved bills and payrolls. Discussion items included the Executive Director's quarterly report regarding enrollment and student referrals, and an update on the completed DESE financial review. The board reviewed balance sheets and income statements, the status of the Capital Reserve and OPEB Trust funds, and presented the first iteration of the draft fiscal year 2027 budget, which covers projected increases in tuition rates, revenue from various sources, and expenditures including salaries, health insurance, and transportation contracts.

The board approved payroll and bills totaling $7,383,340.70 for November and December 2025 and authorized the Chairman to sign lease amendment and SNDA documents. The Executive Director provided a quarterly report highlighting enrollment trends, referrals, and 100% compliance in program and monitoring reviews. The finance section addressed the ongoing accounting software upgrade, reviewed the status of the Capital Reserve and OPEB Trust Funds, and discussed an agreement for the expansion of the Central Office footprint at the Blanchard Road location.

The board accepted the FY25 Annual Report and approved bills and payrolls for October 2025. Key actions included the selection of HUB International as the new third-party administrator for 403(b) and 457(b) plans, approval of the cumulative general fund surplus, and the decision to provide $320,967 in member credits to districts. The board also approved the FY25 audit and the Uniform Financial Report. Discussion topics covered the status of the Capital Reserve and OPEB Trust funds, a review of the audit process, and an update on the MOEC annual report.

The agenda includes consideration of a donation from the Lexington Firefighters, a review of the Statement of Corporate Authority, and discussions regarding Finance and Operations, specifically focusing on the Capital Reserve and OPEB Trust Fund, warrant approvals, and the draft Fiscal Year 2027 Budget and Capital Plan. Additionally, the Board will enter an executive session to discuss strategy related to collective bargaining.

The meeting included discussions and actions on several key areas. The board approved the meeting minutes from September 11, 2025, and approved bills and payrolls for September 2025. They accepted the Treasurer Performance Evaluation and moved to explore the Blanchard Road expansion, authorizing funds for construction. The Executive Director's report covered student enrollment, implementation of a School ERP system, the commencement of an annual audit, staffing updates, and updates on DESE/MOEC reviews. Financial matters included a review of the Capital Reserve Fund and OPEB Trust Fund balances. The meeting also involved an executive session.