All attendees introduced themselves, sharing their name, role, and summer plans.

The Executive Director framed the meeting and reviewed the agenda, which was shared in advance. She reviewed the goals for the day.

The team shared a thank you to Paul Maleh for hosting the meeting. 

The KIPP MA team shared updates about teacher qualifications. We are no longer required to report to DESE on a monthly basis regarding our teachers' MTEL status. The KIPP MA team shared that the current MTEL policies includes both support and accountability for staff members whose role requires them to pass certain MTELs.

 The KIPP MA team shared the current state staffing model, which was scaled back after ESSER funding ended. A member of the Board asked about 2021 and COVID funding, and how that compares to now. A member of the KIPP MA team explained that 2021 was our first year fully enrolled, so a comparison between then and now is not fully accurate. Now, the needs of our students have changed since pre-COVID years. A member of the Board asked if the state provides additional support for students with disabilities. A member of the KIPP MA team explained that the state provides the same funding for all students, but that circuit breaker reimbursement is available under certain circumstances.

Two representatives from HRK (HR Knowledge) joined the meeting to discuss medical benefits and the upcoming renewal. A member of the Board asked if KIPP buys benefits from HRK and whether or not KIPP pays HRK directly or if they are paid from the people KIPP MA buys from. An HRK representative explained that they do not work with any one particular insurer, but search the markets to find the best benefits for KIPP MA. HRK is paid from standard commission, but there is a fixed fee per year for consulting. A representative from HRK explained that we have a self-funded medical arrangement. The actuaries at edHEALTH forecast what our claims will be. The largest cost are claims and KIPP MA's claims were much higher than what was forecasted. The HRK representative explained that this is affecting the nation, not just KIPP MA, but that KIPP MA was overfunding its health insurance. A member of the Board asked what the main drivers of the over utilization were. The HRK representative shared that there were four main drivers: high cost claims post-COVID, GLP-1 medications, specialty medications, and the rates in which hospitals want to charge insurance companies.

A member of the Board asked for clarity about the timeline. The HRK representative noted that after KIPP MA moved to edHEALTH, costs remained fairly level, and they recommend continuing self-funding with protection if claims exceed 125%, while budgeting for expected claims plus some cushion and considering a focus network. In response to a Board question on cost sharing, KIPP MA confirmed that specifics would come during the budget discussion, but the split would return to 70%-30%. A member of the KIPP MA team shared the projected cost savings for 2026 and shared the option most likely to be chosen. A member of the Board asked how immediate the change would be and what the cost is per family. A member of the KIPP MA team shared that this would start January 1 and would be a school savings. A member of the Board asked if there is any explicit care regarding GLP-1s and if it is 25% of the drivers of claims. An HRK representative shared three options that would reduce costs. 

A member of the Board asked if what we are proposing is a higher deductible, higher premiums, and a focused network that people can opt into. A member of the KIPP MA team asked how easy it will be for staff to see how the focused network impacts the doctors they can/cannot see. The HRK representative responded that this is in how we communicate to staff. A member of the Board asked what the current deductible is. A member of the KIPP MA team shared information about the plans and deductibles. A member of the Board asked if we would consider a high deductible health plan. The HRK representative shared that they looked into this and less than 12% of charters utilize a high deductible health plan. 

The Executive Director introduced a financial consultant that KIPP MA has been working with to revise the FY26 budget. The financial consultant explained where we were landing after closing the books on FY25 and an update on the audit. A member of the Board asked how we feel as an organization after CFO transition and working through the budget and audit. A member of the KIPP MA team shared that we feel close to being a good place and said that it is a priority of the incoming CFO to audit these numbers and reconcile the proposed FY26 budget. 

A member of the Board asked if we would receive a waiver from the bank the following week. Another member of the Board asked if we would receive a draft. A member of the Board acknowledged that the bank reached out asking for a meeting. A member of the KIPP team reviewed the proposed budget which includes a slight increase in revenue with some fundraising needed. The KIPP MA team member said that expenses will remain flat due to reduction in personnel. 

A member of the KIPP MA team reviewed tracking against the proposed budget, including a close out of July. The KIPP MA team member and financial consultant are analyzing the staffing model - personnel assumptions listed by the former CFO were not accurate. The top priorities of the incoming CFO are to understand personnel projections, freeze hiring if needed, increase staff portion of benefits payment to 30% and meet fundraising requirements. A member of the Board asked what portion of staff reduction savings are included in the budget. A member of the KIPP MA team shared that the budget was inaccurate and that we retained over 85% of staff, whose salaries increase year-over-year, accounting for increased personnel costs despite reductions. Members of the Board engaged in a conversation about aiming to break even or build a surplus. There is agreement that members are seeking more of surplus, some of which will be addressed with healthcare changes. 

A member of the Board asked if part of the solution was renegotiating the debt service coverage ratio with the bank.  Board members engaged in a conversation about preparing for a meeting with the bank and aligning on the debt service coverage ratio. A member of the Board asked how the model would change moving forward. Board members engaged in a discussion about addressing the debt service coverage ratio with the bank, building a surplus, and creating a mechanism for checks. The Executive Director shared that philanthropy has been increasingly difficult and much of our post-secondary work is funded in that way. A member of the Board suggested that the Finance and Compensation Committee review the proposed budget line by line and prepare for a meeting with the bank. A member of the Board also suggested that we determine the appropriate size and structure of the KIPP MA Finance Team after the incoming CFO begins.

The Executive Director shared an overview of KIPP MA's supplemental family and medical leave policy, showing how it compares to similar districts. The policy is a point of pride for KIPP MA and staff are grateful for it. There is an impact on the KIPP MA mission when so many people are out on leave, in addition to the financial cost. The Executive Director shared that this information has been shared with staff, but she is looking for guidance on what KIPP MA should do. A member of the Board suggested that the KIPP MA team iterate on the plan and consider eliminating a few positions since the cost savings are similar, acknowledging that both choices are difficult. Board members engaged in a discussion on the impact of staff morale, comparative leaves offered in other professional arenas, and the long-term impact. The discussion included the importance of the benefit on KIPP MA's demographic, as well as this being a larger societal problem, not isolated to KIPP MA. A member of the Board recommended a multi-year forecast.  

The Executive Director summarized next steps: work with the bank to address the debt service coverage, understand with precision the exact number of FTEs KIPP MA has, look at projections for healthcare and PFML to ensure we do what is best and allows a surplus, and another potential reduction in force if needed. Members of the Board agreed with this summary and a member of the Board included that transparency with the Board is also important. 

A member of the KIPP MA team shared that both districts are fully enrolled. Members of the Board asked what number of students we receive funding for, if over-enrollment is difficult to manage and if we incur additional expenses for students above our maximum enrollment. Members of the KIPP MA team explained our strategy of over-enrollment.

A member of the KIPP MA team gave an update on the demographics of our student population, including comparison to sending districts. Members of the Board asked questions regarding the comparative data, the state definition of high needs, and the possibility of adding pre-K grades to our model, to which members of the KIPP MA team provided explanations. 

A member of the KIPP MA team shared the assessment and progress monitoring strategy for 2025-26, including i-Ready and DIBELS. The assessment and progress monitoring strategy provides visibility into how students are performing against grade level and makes projections on how students will perform on the state assessment. 

A member of the KIPP MA team shared updates on DIBELS data from School Year 2024-25. Members of the Board asked about growth and specific grade bands. A member of the KIPP MA team shared specific gains by grade level and district, highlighting that growth was observed in grade levels that implemented a pilot program. The pilot program will be implemented in all grades in School Year 2025-26.

A member of the KIPP MA team gave an update on persistence, family engagement, and opportunities for engagement with the Massachusetts Charter Public School Association.

The following Board committees met from 1:30-2:30pm: Finance and Facilities, Development, People, and Teaching and Learning. All committees shared their goals for School Year 2025-26 with the full Board of Trustees.

A member of the KIPP MA team shared highlights from the Advanced Placement exams taken in School Year 2024-25. A member of the KIPP MA team shared a video highlighting the CRA summer internship program from summer 2025.