Foxborough Regional Charter School
Minutes
Finance & Facilities Committee Meeting
Date and Time
Friday May 2, 2025 at 8:00 AM
Meeting Format
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Committee Members Present
Karen Calvert, Lesly Michelot, Matthew Yezukevich (remote), Ryan Higgins (remote), Sergio Martin (remote), Toby Romer (remote)
Committee Members Absent
None
Committee Members who arrived after the meeting opened
Matthew Yezukevich
Guests Present
Christine Barraford (remote), Heidi Berkowitz
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
D.
Vote to Authorize the Chair to Approve Executive Session Minutes
Tabled to next meeting.
E.
Consent Agenda Vote by Chair to Approve Executive Session Minutes
Tabled to next meeting.
II. Finance & Facilities
A.
FY2026 Budget Review
Ms. Calvert reviewed the FY26 budget including the following highlights:
- DESE projecting per pupil tuition increase to $19,948.
- In light of the economic and federal uncertainties, FRCS is projecting a more conservative per pupil tuition of $19,800.
- Present enrollment is 1,440.
- Projected enrollment for FY26 is 1,460.
- Grants are level-funded.
- Mass Premier rental of gym has been increased from $60K to $124K.
- Capital projects for boiler and chiller budgeted at $460K.
- Shortfall in capital may be offset by contribution from the Board's capital reserve fund.
- IT licenses and renewal agreements being evaluated.
- Increase in dental insurance projected at $65K.
- $350K reduction in revenue and $100K in expenses net $250K.
- Debt ratio is 1.27; Eastern Bank is 1.2.
- Insofar as replacement of furniture was done in FY25, there is nothing budgeted for FY26 as capital expenditure; replacement of individual pieces of furniture as needed within operating budget.
- Change from purchase of Chromebooks to three-year lease makes economic sense as the equipment is totally refreshed after three-year lease term expires.
- Upcoming facilities assessment will determine the need for capital projects and a strategic plan for priority and completion.
Following discussion of the cyberattack audit completed six years ago, Mr. Michelot will look into hiring an outside vendor to complete an updated security check on the network.
Mr. Romer reviewed his PowerPoint presentation on the FY26 budget including the following highlights:
- Revenue summary.
- Fee update.
- Overall compensation.
- Administration and Finance.
- Additional needs not budgeted.
Discussion ensued on method of compensation for teachers' earning additional degrees. Also discussed were the additional needs not budgeted. Mr. Michelot reported that high school leadership was in favor of adding late buses in order that interested students could participate in sports practices after school and have transportation home at the end of the day.
It was decided that a meeting would be scheduled for May 8th for further discussion.
III. Closing Items
A.
Adjourn Meeting
| Roll Call | |
|---|---|
| Lesly Michelot |
Aye
|
| Matthew Yezukevich |
Aye
|
| Toby Romer |
Aye
|
| Sergio Martin |
Aye
|
| Ryan Higgins |
Aye
|
| Karen Calvert |
Aye
|
- Updated Rev 3 FY2026 Budget Rolled up.xlsx
- FY26 Budget Presentation - Board of Trustees May 2025.pdf
Tabled to next meeting.