Pioneer Valley Performing Arts Charter Public School
Minutes
Finance Committee Meeting
Date and Time
Tuesday February 6, 2024 at 6:00 PM
Location
Remote Only - No on-site meeting
Committee Members Present
James Montemayor (remote), Keith Black (remote), Neil Hede (remote), Sasha Viands (remote)
Committee Members Absent
None
Guests Present
Brent Nielsen (remote), Marcy Conner (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
Neil Hede called a meeting of the Finance Committee of Pioneer Valley Performing Arts Charter Public School to order on Tuesday Feb 6, 2024 at 6:03 PM.
C.
Approve Minutes
Keith Black made a motion to approve the minutes from Finance Committee Meeting on 01-02-24.
James Montemayor seconded the motion.
The committee VOTED to approve the motion.
| Roll Call | |
|---|---|
| Sasha Viands |
Aye
|
| Neil Hede |
Abstain
|
| Keith Black |
Aye
|
| James Montemayor |
Aye
|
II. Finance
A.
FY25 Budget Process & Preliminary Information
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 6:36 PM.
Respectfully Submitted,
Marcy Conner
Documents used during the meeting
- MCPSA Tuition & Budget Timelines.pdf
- Capital-FY25 & FY26 Possible Scenarios Feb 2023.pdf
- FY 25 Budget - Tution Budget History & FY25 Options 2-1-24.pdf
Committee reviewed the FY25 Budget Timeline document created by the Massachusetts Charter Public School Association (MCPSA). This timeline shows the state budgeting process that spans January to June of each year. School districts are provided with preliminary tuition figures in January based on the Governor's budget and then again in April based on the House version. The Governor's proposed budget has a 4.1% increase in Chapter 70 funds, which represents full funding for the fourth year of the Student Opportunity Act implementation (remember that the Act had a seven year implementation plan that started in FY21 and skipped one year due to COVID). Other provisions that impact PVPA include level funding for facilities at $1,188 per pupil, universal free meals and $5M in mental health supports.
The In-Year Tuition Changes document from the MCPSA was also reviewed. At this point in time we have received and reviewed the Quarter 2 tuition numbers distributed in December 2023. As we move toward Quarter 3 we are anticipating changes in the Above Foundation Rates and will receive partial year credit for enrollments reported in February during Quarter 4. This illustration shows the state budget process as well; demonstrating the difficult process of predicting tuition funding at any point throughout the year based on all of the factors or "moving pieces".
Key takeaways here are that the Governor's budget uses FY24 Quarter 2 Above Foundation Rates (from December 2023) and enrollment projections based on October 2023 reporting whereas the House version, expected in April, will reflect FY24 Quarter 3 Above Foundation Rates. The Above Foundation Rates are critical because schools used their Federal ESSER III funds in different ways. As this funding dries up we may see school laying off people that their local budgets can no longer support. PVPA has 6.1 FTEs totaling $232,000 that have been supported by ESSER III funds that will either need to be incorporated into the budget or eliminated.
A Tuition History and FY25 Options Report was shared for informational purposes as the Committee begins to have tuition budget discussions in April after the release of the next round of tuition number for both FY24 and FY25.
During the FY24 budget process the Finance Committee developed a possible two year scenario (FY25 & FY26) for capital expenditures, which was shared and reviewed in preparation for the March meeting.