Committee was provided with both the long version and condensed version of the Budget vs Actual for the 2nd quarter.  Half way through the fiscal year; important indicator is not less than 50% of the budget remaining.  Some accounts may have been "front loaded" meaning that the bulk of the expense is during the first part of the year - this is especially true with items like annual memberships or software purchases.

Revenue:

1.  Grant funding was approved late so we are a little behind in capturing the reimbursements from the state.

2.  On target with tuition.

3.  Have not yet begun to receive transportation reimbursement from transporting South Hadley students - Regional aid will be received in 2027.

Expenses:

1.  Personnel cost will differ based on category: 10 month runs Sept to June and 12 month runs July to June.

2.  Will check account 5221a Salaries - Arts teachers Classroom running in negative - seems as if something was miss-coded with the new accounting structure.

3. One reason for the new account structure was to align our accounting with state reporting.  For example an accountability measure for PVPA is how it disseminates educational content/practice to other schools - account # 5610 Dissemination Activities - we have not tracked the cost in the past and are focusing on changing this.  The account will be over budget for FY26.

4.  Grant expenses are low because we received late approval.

Overall the budget vs actual is in good shape as we move into the second half of the fiscal year.

DESE 2nd quarter tuition projection was released on December 26, 2025.  This is really the first time in the tuition cycle that the projection is based on some current demographics: October 1 student enrollment.  PVPA reported 395 students (down 5 students). The Above Foundation numbers in red represent communities that have had a decrease in funding.

Overall the second quarter is tracking approximately $8,000 less than the FY26 budgeted tuition.  The student count is important as we realize approximately $20,000 per student - the enrollment for second semester will be back up over 400.  PVPA will receive partial year tuition for those students when the reconciliation is done in June.  Good job Brent & Team on taking action and getting us back to 400 students.

Currently we are also not tracking to be able to give the CBA contingency payment for the year.

Intended to discuss a graphic that was created by MCPSA showing the state budgeting process and when information becomes available for budgeting purposes. It was left off the agenda but we will pass it along to the Board as it is important to understand the process.