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Home My WebLink About2026-08-24-SBC-min (Finance Subcommittee)School Building Finance Sub -Committee Minutes, Meeting of Monday, August 24, 2026 Virtual Meeting 12:00 PM This was a public meeting of the Finance Subcommittee of the School Building Committee, held via Zoom. Members: Jonathan Himmel (Permanent Building Committee) - Chair; Mike Cronin (Facilities Director); Carolyn Kosnoff (Assistant Town Manager Finance); Joe Pato (Select Board); Kseniya Slaysky (Community Representative); Dan Voss (Sustainable Lexington). ATTEN DANCE • Jonathan Himmel (Chair) • Mike Cronin • Joe Pato • Kseniya Slaysky • Dan Voss (joined shortly after call to order) • Mark Barrett (Town staff) • Mike Burton (Dore & Whittier) • Kyle Leone (Dore & Whittier) CALL TO ORDER Jonathan Himmel called the meeting of the School Building Finance Subcommittee to order at approximately 12:03 PM. APPROVAL OF PRIOR MEETING MINUTES Joe Pato moved to approve the prior two sets of meeting minutes, and Kseniya Slaysky seconded. The motion passed unanimously. PROJECT FUNDING AND FINANCIAL DASHBOARD Mike Burton reported that the project team was communicating with the Massachusetts School Building Authority regarding the Project Funding Agreement. MSBA had raised concerns associated with the DEP- related delay, and the timing of the agreement remained unresolved. Kyle Leone reviewed the financial dashboard, which reflected data through July 31 and is updated monthly. The first Turner invoice had recently been approved and would appear in the next reporting cycle. The committee requested that the total project cost display more clearly show the MSBA and Town shares and that completed feasibility -study information be placed in a more logical chronological position. The committee also discussed the financial consequences of pursuing a different project alternative. Members noted that a new SOI and feasibility process could require substantial work to be repeated and that MSBA reimbursement would not be available for the repeated work. CONTRACT, COMMITMENT, AND INVOICE REPORTING Kyle Leone presented a one-page summary of contracts, commitments, and invoices for the owner's project manager, designer, construction manager, and other project costs. The committee discussed the need to connect the overall budget, commitments, amendments, contingency use, invoicing, and month - over -month changes in a comprehensive report. Amendment logs with descriptions and dollar amounts were viewed as potentially sufficient without distributing every amendment document. Members clarified that the public dashboard would remain the principal public -facing summary, while the subcommittee would receive greater supporting detail for oversight. The subcommittee's review is intended to provide high-level assurance that appropriate processes are being followed, not to duplicate staff, designer, or OPM review of every invoice. Dore & Whittier staff described their review of project spending and the cover letter and checklist used for construction requisitions. The committee discussed whether comparable documentation should cover design and other project invoices. Kseniya Slaysky and Dore & Whittier agreed to continue that discussion separately and return with a practical recommendation. REPORTING AND MEETING CADENCE The group agreed to work toward a monthly package that includes available warrant information, the OPM monthly report, the dashboard, contract and invoice tracking, and appropriate supporting detail. The expected timing is around the middle of each month so the committee can review the material before meeting. The committee agreed to pencil in meetings for the third Thursday of each month, with flexibility to move a meeting one week later when required information is not yet available. For September, September 24 was identified as the preferred date because of the cost -estimate reconciliation schedule. ACTION ITEMS • Kseniya Slaysky: Contact Mike Burton with updated availability and meet with Dore & Whittier to clarify the desired monthly reporting package and level of detail. • Kseniya Slaysky and Dore & Whittier: Develop a practical recommendation or draft checklist for the subcommittee's recurring financial review, including how assurance over construction, design, and other invoices should be documented, and report back to the committee. • Kyle Leone: Revise the dashboard to show the total project cost as balanced between the MSBA and Town shares and reposition the feasibility -study information chronologically. • Kyle Leone / Dore & Whittier: Distribute the contract and invoice summary with requested backup, including amendment logs, and assemble it with the OPM monthly report and other agreed financial information on a monthly cadence. • Mark Barrett: Resume consistent monthly distribution of warrant information; include Mike Burton and Kyle Leone on correspondence to the subcommittee; and provide the first construction pay requisition information after the August payment cycle closes. • Committee leadership and staff: Schedule regular meetings for the third Thursday of each month, shifting by one week if needed based on report availability; target September 24 for the next meeting. - 2 • Subcommittee: Use the next monthly cycle to test the proposed review process, focusing on the dashboard, contract and invoice tracking, commitments, budget, contingency use, and a high- level review of requisitions. ADJOURNMENT Joe Pato moved to adjourn, and Kseniya Slaysky seconded. The motion passed unanimously. The meeting adjourned at approximately 12:54 PM. Minutes submitted by Joseph Pato drawing on Zoom transcript CoPilot Al prompt: Using the Zoom Transcript in this file generate minutes of this meeting identifying attendees and action items Approved 10/8/2026 -3