The Board recited the School Mission to consistently remind themselves of the purpose.

No public present. 

• Officially welcome Maria Porto to the Board of Trustees. 
• Committee to review backgrounds of current Board members to strengthen the Board with various career backgrounds. 

• Review of September budget vs. actual
  • No unexpected line items

6:30 - Auditing Firm to call in to Review Drafted Financial Statements

Discussion prior to Auditor phone call

• Review of 2024 vs 2025 net surplus to explain change in ending fund balance
• Review of ending in ESSER Funding's impact on budget

Auditor Review of Draft Audit Report

• Sharon Blazejowski and Meghan Boone from MP CPA's
  • June 30, 2025, Audit
    • Federal Single Audit - any organization that receives over $750,000 in federal funding needs a single audit in addition to a regular audit. The 2025 compliance supplement is just a draft; therefore, no audit is able to be released until the compliance supplement is released. DESE has released guidance that the Board will approve Draft financial statements by deadline but not issue final financial statements. School would still file end-of-year report by deadline. 
      • Question - if board approves the presented drafted financial statements tonight, we will be in compliance with DESE requirements?
      • Answer: Yes, the deadline is October 31st and require board approval of draft prior to then.
    • New Requirements from DESE Charter School Office - wants auditors to test grant funds back to 2018. Testing shows that all grant reports were filed. Additionally, Charter School Office wanted Auditor to test submission dates of DESE required reports for FY 2024 and 2025. Tested 20 reports. There were 3 reports that were late - Annual Report 2024 (one day), Annual Report 2025 (one day), End of Year 2024 (two days late).
      • Question - is there any adjustment from DESE in findings because of delay in reports by one day late. Is there writing from DESE describing what they are requiring and looking for. 
      • Answer - guidance during Charter School webinar it was stated that anything beyond one day late. It is due August 1st. 
  • Review of Board Communication Letter
    • Policies are in line with requirements 
    • New policies were adopted as needed this year
    • Financial Statements contain accounting estimates
    • Sensitive Disclosures
    • No difficulties were had
    • No disagreements
    • Will request a management representation letter when final statements are done
  • Drafted Financial Statements
    • Auditors Report - unmodified opinion 
    • Management discussion and analysis
    • Statement of Net Position, Total Assets, Total liabilities, 
      • Discussion about unrestricted net position, funds restricted for capital funds
        • Cannot be restricted but can be written in footnotes that funds are reserved for capital outlay projects.
        • Question - DESE states that Board has the ability to restrict funds for capital outlay projects. 
        • Answer - Due to funds being deposited into separate account, it will show and be included in calculation for reserve funds for capital projects. Also included in total net position that Board has designated for future capital projects.
      • Operating revenues increased. Operating expenses increased.
      • Statement of cash flow
      • Notes of Financial Statements
        • GASB101 and GASB102 changes and impacts on statements
        • Compensated Absences - required disclosure for GASB101
        • Adjusted footnote for designated net position 
        • Report based on audit based on government audit standards
        • Report based on audit based on compliance - no opinions noted
        • Scheduled findings and costs - Title I - no findings
        • Financial Statement report for reports submissions to DESE
        • No 2024 findings
      • Auditing Standards Questions - "no" to all questions

Discussion to reschedule sub-committee meeting.  Will discuss as a committee and reschedule offline.

New committee members met for first time to discuss purpose and short-term and long-term needs of school.  Elected officers.  Chair - Bopha Malone, Vice-Chair - Maria Porto.

• Scholarships for all seniors
• Summer School Programing
• Arts funding needs

Second meeting included follow-up information to needs, discussion of funding needs to fully support all needs. Goal of $150,000 fundraising to support these needs. 

Discussion of goal, current ideas of fundraising. 

Garage delayed.

HVAC repair.

Will schedule sub-committee meeting for final quarter of the calendar year. 

K-4

• Field Trips
• Early Release
• Trunk or Treat
• Book Character Day
• Coat Donations (Operation Warm) gave $23,000 of coats for Gr. 1-3 - every student got a coat
• Wolf Pride Celebrations
• Attendance Superstars 
• College connections with Grade 4 homerooms - adopting a college
• Science in Action

Gr. 5-12

• Homecoming Nov 7
• Hispanic Heritage Night
• PSAT
• Food Drive
• Financial Night
• College visits - Salem State, Merrimack College

Athletics

• Participation increases 
• Boys Soccer playoff game 10/22 - 15th in the state
• Girls Soccer and Volleyball improving
• Football co-op with Lowell Catholic

Academic Update:

• Discussion of progress across grade levels
• Attendance improving, including chronic absenteeism
• Suspensions decreasing over last year
• Review of PD sessions 
• Co-teaching visit from consultant

Grants and Strategic Partnerships

• Working to secure additional funding for programming
• Grant applications
• Multi-media club at HS level, possibly to include MS

Communications

• Unity through Song on Wednesday 10/22
• Founders article in Lowell Sun
• Yondr update successes and challenges article

MCAS Results

• Overview of results
• Sub-committee meeting to meet to dive into data further 
• 55% progress towards targets

Review and discussion of Bullying Policy.  No changes.

Review of Annual Report 2024-25.

November 18, 2025

4:00 - 5:00 p.m.

Followed by Board Retreat Part 2

5:00 - 8:00 p.m.

Location - Community Room at Merrimack Food Bank