Directors reviewed the proposed agenda for the May 2026 board meeting.

Mr. McCarthy presented the minutes from the April 15, 2026, board meeting.

Sr. Patricia recused herself from the discussion and vote due to a conflict of interest. Mr.
McCarthy presented the update Aquinas lease renewal agreement, referencing the opinion that
the Letter of Intent that was previously approved by the board was tantamount to approval of the
lease.

The board expressed deep gratitude for all the work Dr. DeVivio has done to make this year so
successful for staff and students. Dr. Mary Anne DeVivio presented the Principal’s Report.

Keynotes included:

• A production of “Peter Pan” will be performed on May 6 th . Board members are invited to
  attend.
• Thank you to the board for supporting families who lost home and family in the recent
  fire.
• The student lottery was held on April 2, 2026. The school has received 137 applications
  for SY2627. 51 registrations have been completed and 15 are in progress. School tours
  are being conducted for interested families.
• All state testing has been completed. Teachers and students feel confident in their
  performance. Scoring will be completed in partnership with the charter consortium.
• NYSESLAT testing will take place May 11-13.
• The Summer Boost grant was secured, and the program will run July 6-July 31.
• Parent-teacher conferences will be held at the end of May. A block party is being
  scheduled for the beginning of the school year this coming September 2026.
• The renewal application is in progress. The leadership team is working in partnership
  with Jill Shahan of Empire Charter Consultants.
• The administrative team will continue to discuss a grades 6-8 middle school expansion
  and model, following the guidelines of Portrait of a Graduate. Curricular decisions will
  prioritize:
  • Interdisciplinary units
  • Project-based learning
  • SEL components
  • Student voice and choice
• Attendance: 90% as of May 4th.
• NYC city school survey has been completed; results have exceeded last year’s.
• CSBM has drafted FY27 budget and will include 3.5% salary increases to align with the
  DOE scale.
• Intent-to-Return surveys have been distributed, and almost all staff will be returning for
  SY2627.
• Next year, a third second-grade Discovery class will be added.
• Two TFA teachers were selected to be celebrated on the Today show and Teacher
  Appreciation Week will be held May 11-15.

Dr. Ursillo, Chair of the Academic Committee, confirmed that there was no April 2026 Academic Committee meeting.

Dr. Gershen-Lowy, Chair of the Finance Committee, presented the May 2026 Finance Committee report. 

Ms. Gnesina reviewed the financial statements for March 2026. As of March 31, 2026, the school had a $7.4M cash-on-hand balance, an excellent cash standing of more than six months. Additional keynotes included:

• There have been no changes in enrollment. There are currently 450 students. There have been no changes to the SpEd enrollment.
• This is a healthy balance sheet with healthy ratios.
• The budget vs. actuals report highlighted a projected surplus of approximately $54K. There have been no major changes since the last report. 
• The Metropolitan Bank savings account and thus the Money Market account balance as of January 31, 2026, is $0. The mandated escrow account has also been moved to Metropolitan Bank.
• The Metropolitan Bank account statement reflects a balance of $6.75M having earned $20K in interest income for the month of March. $75K remains in the account in escrow per the charter agreement.

Mr. Sgambati discussed the RFP process for the audit company. Three proposals were submitted for review. BDO won the bid based on set criteria. The Finance Committee recommends the board approve BDO for SY2627.

The review and revision of the Financial Policies and Procedures (FPP) manual has been completed. Mr. Sgambati reviewed the updates made to the manual based on recommendations from CSBM and the Finance Committee. The Finance Committee made a recommendation to approve the FPP manual as presented. 

Mr. McCarthy, Chair of the Governance Committee, presented the May 2026 Governance Committee report. 

Keynotes included:

• Committee members discussed updates on the Our Lady of Refuge (OLR) lease and proposed term sheet. Whiteman Osterman and Hanna is working with the archdiocese to review the term sheet.
• The Aquinas lease was discussed and signed In anticipation of a retroactive board approval.
• Counsel has reviewed the board policies for approval at today’s meeting. 
• Officers were discussed and will be presented at today’s meeting. 
• The SY2627 board calendar was reviewed and will be presented at today’s meeting. 

Mr. McCarthy proposed a consensus agenda for matters contained in the annual meeting agenda.

Items included:

• Election of 26-27 Board Officers: The Governance Committee recommends officers remain as James McCarthy as Chair, Angel Audiffred as Vice Chair, Dr. Bill Ursillo as Secretary, and Dr. Reva Gershen-Lowy as Treasurer. 
• Appointment of Auditor: The Finance Committee recommends BDO as the SY2627 auditor. 
• Appointment of Board Counsel: The Governance Committee recommends Whiteman Osterman and Hanna (WOH) remain as counsel. 
• Approval of 26-27 Board Meeting Calendar: The Governance Committee recommends the board meeting calendar as presented. 
• Approval of 26-27 Student Family Handbook (English / Spanish): The SY2627 handbook has been reviewed and approved by WOH.

Approval of 26-27 Employee Handbook: The SY2627 handbook has been reviewed and approved by WOH.

The board reviewed the slate of school policies for the 2026-2027 school year. 

Policies on the consent agenda included:

• Strategic Plan 
• Anti-Bullying Policy
• Attendance Policy
• Cell Phone/Electronic Device Policy
• CMCCS Student Data Privacy & Bill of Rights
• Commitment to Excellence Policy
• Complaint/Grievance Policy (English & Spanish)
• Data Security and Privacy Policy
• Dignity for All Student Act (DASA)
• Disciplinary Policy for Students with Disabilities
• Discipline Policy
• Family Educational Rights and Privacy Act (FERPA)
• Freedom of Information Law (FOIL) Policy
• Gender Neutral Bathroom Policy
• Grading & Retention Policy
• Growth for Success Policy
• Health Policy
• Migrant and Immigrant Students' Rights to Attend Public Schools
• Internet Safety Policy
• Lottery Policy/Guidelines
• Non-Discrimination and Equal Opportunity
• NYS Open Meetings Law
• Public Comment at Board Meeting Policy
• Sanctuary Policy
• Student Admission Policy
• Student Wellness Policy
• Subject Matter List of Records Held Policy
• Title IX Grievance Procedure
• Uniform Policy
• Conflict of Interest Policy

The district-wide and school safety plans were reviewed. For security reasons, the school safety plan will remain a confidential internal document, and will not be publicly published. 

Dr. Ursillo presented the Partner’s Report for May 2026. Cardinal McCloskey Community Services has reached an agreement with the Dominican Sisters to purchase the property. The next phase is for CMCS to complete its due diligence. Mr. McCarthy will meet with CMCS Executive Director, Beth Finnerty, to discuss revisions to the bylaws that may affect a potential lease with CMCS.