← School Committee · 2026-07-28 · School Committee Meeting
Budget Summary/Grants/Revolving Accounts
Agenda original PDF
Minutes original PDF
4. Second vote to rescind Policy KCB 5. Second vote to approve Policy KA 6. Second vote to approve Policy KDB 5. SUBCOMMITTEES (COMMITTEE OF THE WHOLE) 1. Finance and Facilities - Margaret Driscoll/Melissa Holleran A Budget Summary/Grants/Revolving Accounts Deputy Superintendent Kelley presented the FY27 budget summary, the grant report, and the revolving accounts in the packet. Mr. Kelley noted that we are under way closing out FY26, offsets have met budget targets, and all grants are on track to close out. MOTION: To approve the budget summary, grants and revolving accounts RESULT: ACCEPTED [UNANIMOUS] MOVER: Seamus Kelley SECONDER: Melissa Holleran AYES: Jennifer Razi-Thomas, Jennifer Grigoraitis, Seamus Kelley, Margaret Raymond Driscoll, Matt Hartman, Melissa Holleran, Sheri Leo B Report: FY25 End of Year Report Audit Deputy Superintendent Kelley presented the final report from an independent audit firm, marking several consecutive years without significant findings, resulting in another positive report. 2. Policy and Planning - Matt Hartman/Margaret Driscoll A Review: Po
Transcript
▶ 24:36 Margaret Raymond Driscoll: Seven. Thank you so much. First on our agenda this evening is the budget summary with grants and revolving accounts through the superintendent to Mr. Kelley, please.
▶ 24:48 Speaker 2: Sure. Good evening. Thank you. So you've got the three reports. You have your FY27 budget summary from UNIS, the grant report, and our revolving accounts. Just a couple highlights. We're well underway with closing out FY26 and are now in the phase of making sure we have our carry-forward numbers correct, both in our open POs as well as what we need to fund for the current warrants that are in front of you tonight. Our offsets did meet their budget targets. And good news, we were not in a position where we needed to request access through city council consideration for stabilization fund, which is a good best practice, and moving away from that as one of our contingency offsets. And all grants are on track to close out that are closed June 30, and some grants do stay open through September and even into the following year. So, all things that are on track, and I'd be happy to answer any questions you might have tonight.
▶ 25:53 Margaret Raymond Driscoll: Questions for Mr. Kelley or the superintendent?
▶ 25:58 Speaker 3: Seeing none, why don't we move right into our grants report, please?
▶ 26:05 Speaker 2: Sure. Yep. So all grants are on track. In case you're not aware, just informational, the new GEM system is almost a reimbursement system through the state now, where we submit backup detail that we've paid bills, and then we receive the drawdown funds, which is a little different than the way the old grant system used to work. So, our grants are all on track and in a good place.
▶ 26:31 Speaker 3: And anything else on the offset projections? Anything additional on that?
▶ 26:38 Speaker 2: One question. Ms. Razotins, yes. Thank you. So someone who's just looking at this would say that our offsets are very robust, which is great. With the override having passed, do we need to have all these offsets? And are there certain areas where could there potentially be relief with increases to tuition or things like that? Sure. So for those that might not be aware that may be watching, the offsets are a built-in budgeted portion of our budget, so the city appropriates a major piece of our budget, and then we, through fees and tuitions, just like you mentioned, we raise about $5 million each year towards our budget. So, those are numbers that are budgeted at the beginning of the year. We have not raised those funds yet as we start FY27, so I probably don't have an answer right now as to things that we could reduce because those are funds that we do build throughout the course of the year, and we do rely on them. Mm-hmm. And while the override was a very generous thing for the city to put forward for both the city and the school side, I would need more time to answer that question regarding were we going to move away from any of those offsets, because they are all a significant part of our budget. Right. It's baked in. Correct. And it's absolutely essential, especially when we're super lean. Yep. I just know that people are also really struggling financially with everything- Yep ... the costs of everything, and we're obviously six months away from our budget season, but it's something for us to be-- I know you're really thoughtful about it. Sure. So we'll see where we go. And we never know what's around the corner. Can have a global pandemic, right? So we'll see. Sure. Yep. No, we understand. Families have budgets that they plan and watch very closely, as do we, and two of our lines for the ECC and Ed Stations that we pay salaries with those funds. Yes. So, there's a lot that goes into those offsets. Great. Thank you.
▶ 28:50 Margaret Raymond Driscoll: Yep. Thank you. Thank you. Any other questions? Seeing none, do I have a motion for approval? Made by Mr. Kelley. Second. Seconded by Ms. Holleran. Any further discussion? Seeing none, all in favor? Opposed? That motion carries unanimously. Next on our agenda is the end of year report audit. And just to clarify that this is actually a review. It's not an audit in the way that we think of the city finances being audited. So this is a financial report. Mr. Kelley, I think you have some good news to share with us.