Boston Preparatory Charter Public School
Minutes
Finance Committee Audit/Q1
Date and Time
Thursday October 15, 2026 at 8:00 AM
Location
https://bostonprep-org.zoom.us/j/6226417759?omn=97482593647&from=addon
The public is welcome to attend any meeting of Boston Prep’s Board of Trustees or its subcommittees. If communication assistance or any other accommodations are needed to ensure equal participation, please contact Lucie Torrey at ltorrey@bostonprep.org at least two (2) business days prior to the meeting. Any changes in the agenda will be posted on Boston Prep's website and will be electronically filed with the secretary of state at least forty-eight (48) hours in advance of the meeting.
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Committee Members Present
B. Jones (remote), J. Johnson (remote), K. Borchert (remote)
Committee Members Absent
B. Sacks, D. Russell
Guests Present
A. Peterson (remote), B. Clark (remote), Enis Bezhani (remote), J. Grandin (remote), L. Torrey (remote), T. Martin (remote), V. Harris (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
| Roll Call | |
|---|---|
| D. Russell |
Absent
|
| K. Borchert |
Aye
|
| J. Johnson |
Aye
|
| B. Jones |
Aye
|
| B. Sacks |
Absent
|
D.
Call for public comment
II. Finance
A.
FY26 Audit Review
E. Bezhani of the audit team presented the FY26 audit.
Members asked about the prior year's effect on the cash reserve and about interest rates on the school's real estate bonds. Tyler reported that the Phase 2 bonds must be refinanced this fiscal year.
The audit of the school's federal grants had no findings. The FY26 federal compliance supplement has not been issued, so the audit cannot yet be finalized; DESE extended the November 1 reporting deadline to January 1. Additional testing is possible but not expected. Tyler reported that DESE and the Department of Revenue expect to handle matters as they did last year.
The audit team reported one finding in its review of charter school compliance: a tested new hire was not enrolled in the Massachusetts Teachers' Retirement System (MTRS) within the required 30 days. The finding will be reported to the state. Bezhani said it is a common finding and expects DESE to be understanding if the issue is corrected going forward.
Current enrollment was reported as 670 students.
| Roll Call | |
|---|---|
| B. Sacks |
Absent
|
| D. Russell |
Absent
|
| K. Borchert |
Aye
|
| B. Jones |
Aye
|
| J. Johnson |
Aye
|
B.
FY27 Committee Charter Review
The Committee's FY27 goals are its standard goals plus two additions: (1) refinancing the Phase 2 bonds, and (2) rethinking the compensation structure to be more competitive in attracting teachers.
Members discussed recruitment strategy, including developing a full value proposition, and asked about the tuition rate per student. Tyler described compensation model options under consideration, such as performance raises versus straight salary-scale raises.
Tyler reported that Boston Prep's teacher pay is mid-range among charter peers, except Brooke Charter Schools, which is an outlier. A member noted that Brooke's structural advantages, such as real estate arrangements, may make it hard to compete.
The Committee also discussed holding a finance 101 training for the wider group of trustees, especially new trustees.
C.
FY27 Budget to Actual
Tyler provided a quick overview. Enrollment is looking in line with what is budgeted for and the school is slightly ahead of plan. Feels much more confident about this year's financial position.
K Borchert called for public comment. No public comment was offered.