The discussion followed the notes provided ahead of the meeting.

Main items of discussion related to:

- Increase in personnel cost of 52.8% compared to previous year. Jeff believes this will normalize with reversal of accruals but will provide an explanation at the next Fincom

- HR software (Frontline) was selected by new HR Manager after a review of several options. MCCPS entered into a 3-year agreement. The annual expense is $4K but there were start-upcosts of $3,500 ($4,400 reflected in August).  Because the overall value of the contract exceeds $5K, Fincom will receive details of the contract and officially discuss/vote on approving the expense

- Teaching Force program has resumed and new payments was made, reflecting increased scope

- The new fire panel is complete (and passed inspection) and work was remaining for the roof and kitchen projects.  The occupancy permit of the school will need to be renewed by October 31

- Enrollment remains strong at 226. Down from 229 as 3 kids from Peabody dropped out, reflecting challenges with commuting to school    

Fincom discussed the proposed amended budget and in the end made the following recommendations:

- the Budget stays as originally approved

- By November, a reforecast will be be finalized and presented to Fincom by Jeff Barry and the monthly review will then show variances of Actuals to Budget and to this Reforecast

- Fincom direction for this Reforecast is to remain conservative and in particular:

• show more limited surplus (between $100-150K) compared to proposed version
• Maintain enrollment assumption at 224
• Assume inflation impact in personnel and utilities bill