Note Regarding Approval of Meeting Minutes

Trustees do not need to have attended a meeting to participate in the vote to approve its minutes. Trustees who were not in attendance may review the minutes and vote to approve them based on their review of the written record. If a trustee does not feel they have sufficient information to approve the minutes, they may choose to abstain.

This applies to both the Charter Renewal Focus Group minutes and the executive session minutes presented for approval.

Matt Landon will make a motion that the Board of Trustees enter executive session pursuant to M.G.L. c. 30A, § 21(a)(7), to comply with the provisions of the Massachusetts Open Meeting Law, M.G.L. c. 30A, §§ 22(f) and 22(g), for the purpose of reviewing and approving minutes from a previous executive session, as discussion of those minutes in open session could disclose confidential information.

As part of the ongoing strategic planning process, a survey was sent to trustees to gather availability for upcoming in-person working sessions with consultant Erin Linville. These sessions will provide opportunities for Board engagement, discussion, and input on the school's long-term strategic direction.

Upcoming sessions include:

November 19 or 20: Date and time TBD based on trustee availability.

December 17, 3:30–6:30 p.m.: In-person strategic planning session during our planned, extended December meeting.

Trustees are encouraged to participate as we continue this important work.

Review and discuss the CEO’s annual performance evaluation and summary evaluation report.

Rachel will share final thoughts on her FY26 evaluation and briefly discuss her FY27 goals with the Board of Trustees.

As we discussed at the Finance Committee meeting, we're bringing forward a revised FY27 Operating Budget for Board approval. The primary driver behind these revisions is enrollment coming in below our original projections. We're now budgeting for an average daily enrollment of 727 students, compared to our approved capacity of 766, resulting in a projected revenue reduction of approximately $440,000. We've made the necessary adjustments to align our expenses with this updated outlook, noted in the footnotes. The revised budget reflects a more realistic picture of where we are financially and positions us to manage the remainder of the year with more realistic monthly financial statements and without the need to report out on these planned variances at year end. At the same time, we're taking a deeper look at our enrollment trends and long-term sustainability through our strategic planning process. That work will help inform important decisions about enrollment, facilities, and our financial future. Today, we're asking the Board to approve the revised FY27 Operating Budget as recommended by the Finance Committee.

Denise will provide an update on the organization's current financial position, including monthly revenue, expenditures, cash flow, and other significant financial matters.

The Finance Committee will present the proposed revisions to the FY27 Operating Budget, reflecting updated enrollment projections and corresponding adjustments to revenue and expenditures. The revised budget incorporates reductions in personnel expenses and contingency funding to align spending with anticipated revenue and support the school's financial sustainability. Following discussion and the Finance Committee's recommendation, the Board will be asked to vote to approve the revised FY27 Operating Budget.

Erin Linville will introduce her role in supporting Veritas Prep's strategic planning process and provide an overview of the proposed approach, timeline, and opportunities for Board engagement. The presentation will outline how the planning process will help inform the school's long-term priorities and strategic direction.

Representatives from Attuned Education Partners will introduce their team and provide an overview of the program planning process, including the research, enrollment analysis, and financial modeling that will inform potential future scenarios for Veritas Prep. The presentation will outline the scope of work, anticipated timeline, and how findings will support the Board's strategic planning and decision-making.