So, because that's a lot of things people will say is, okay, I already have a 403b. A lot of people don't want a bunch of different retirement accounts sitting around. So, they usually just will consolidate it through a rollover um or a transfer. And so, that's that's a really nice thing about our product as well is there's no fees or anything if you want to roll that money over to an existing account. >> Um, another question. And is it possible for someone to split some of their payout into medical and some into the 43b? >> Great question. Uh, generally no. And I would say we have about 300 different entities across the country. We only have one that splits it. But what the employer has to do is they have to set a percentage in their plan document. That way you're not doing different things for employees.
Do you have any questions yet or would you just like me to kind of go into a spiel on which one I would prefer? >> Yeah, go into >> So, the first one is the uh the McGra Hill, the American history. That one is probably going to be the most conducive. It's going to be the best one in my opinion after looking at both of them. Um, it does have a an app, which I know kids are dying to have an app of a textbook on their phone, but if there is reading, um, just because of how extensive APA is, there needs to be outside information, there has to be, um, I can't cover everything that I want to and that the test requires in a in a calendar year of school. So, the textbook, it has multiple adaptability to it. Um, one of the big things with this and I'm not sure if it the app and they have a um like digital testing I guess you would say.
So it's you know depending on how much the the people applying for these grants how much money that they need for whatever programs that they're running like you know increase it maybe but >> thank you. >> That's great feedback. Oh R has his hand up too. All right. Yeah. R has his hand up. Just uh to add on to that, um I agree. I think that especially maybe it's because I'm biased and I love Ashland, so I know where the money is is going to generally speaking. Um I think it's very doable um in terms of the minimum, but I also think that when you really elaborate on where these funds are going to, I found that you have more success. So, as opposed to people, you know, reaching out or posting on their social media, hey, support me in my fundraising, here's my Venmo.
um we're responsible for all of it, not just those ones, but but they the buildings and department heads compile all of their information in the month of October. Comes back to us at the end of October and then we take I it usually takes a couple of weeks to really then compile all of that into one uniform budget document that I work from from that point on. And >> I I'll clarify a little more. I didn't mean the detail oriented work. I would like to focus in on the strategic alignment of the budget to the plan in you know in in different forums in this forum in the finance committee forum right I trust that those details are being worked right but I think we need to be having year- round conversations of linking the the money to the outcomes >> to the mission >> and as the finance committee we had a hard time trying to look at the budget and tying it to the strategic plan.
We couldn't do anything. We you've uh given us an athlete Mr. Neil Blanco is doing a great job. Next slide. We are we rely heavily upon our coaches. We have a lot of coaches that work with our kids every day. We offer u well next slide. We we've got we offer uh three seasons of sports uh with uh flag football and and uh and volleyball and cross country and for for middle school. Um eightman football for high school, girls and boys basketball, we just finished our season now. Uh softball and baseball and this year track and field I'm afraid is in jeopardy because we are looking for a coach. So, we've we've had we're we're still looking, but we are probably about to close it down for this season as a one time only while we spend more time getting somebody ready to go with all of their NFHS certifications and get them ready to go.
So you would have to say everybody gets 80% into special pay and then the other 20% will go into HR. So generally no, you can't split it. um unless the district sets an amount, but I would say 99% of our entities don't do that because you don't want someone who really needs it for medical and now they're getting all into special pay or you maybe have someone on TriRiCare is like why do I even have to put 20% into into this medical account? I don't want that. So, generally, no. >> Okay. And then last question I think for me, um how does your company and then also the third party vendor make money? >> Great question. So, we make an assets under management fee of 1% on all the money that sits in these accounts. It's not actively taken out of any of these accounts.
So it is a digital textbook uh print textbook and then there is an app uh on it as well. As the students read each chapter it will give them um all forms of the way that they will be tested. So, a long essay question, a short answer question, document based question, and then multiple choice uh questions. And with the multiple choice questions, it will give immediate feedback on if they miss the question or get the question correct, why did they choose, why is that question, why did they miss it, and what could they look out for, if they got it correct, reinforcing what to look out for, and everything like that. And then the SAQs, um, they didn't really touch on it when I was going over it about the written exam because that's always subject to a rubric and also every student can have varying answers because there is multiple multitudes of that.
Uh, it's a lot more uh, you know, relatable depending on who the person is when you actually list off where this grant is going. >> Um, because you never know where like where or what organization really touches a person and all of Ashland's um, different allocations. uh I found to be very personable to people when you actually are able to explain it out to them. Uh so that for me was really effective. >> That's great. >> Thank you. >> I think we got Nick. >> We have one more. >> Yep. Nick. >> Awesome. Thank you. Um yeah, I totally agree with what everybody's said. Um, I've had the opportunity to fund raise for a couple other charities, whether it was in NATIC or or some in Framingham, and they were through the same situation of towns that are on the route getting their own bibs.
We just >> I think we have a lot of opportunity there >> for next year. >> We do. And it's great. There's an appetite for that. So, we'll make it happen. >> Um and and and I just Erin, back to your point, I would just also share that um you know, should it remain at the 4.41, we we will be looking at the items that have been identified, right? And so I I guess I just wanted if there was any if anything was unclear, I just want to be clear like we do know that there are some items that have been identified by the board and if we do have to reduce to that that we would and like I said that would be approximately $250,000. Um I would also say in the same line that I think if it's reduced a significant amount more, that's where it's going to get a lot more challenging.
We we had we asked we looked not this year. So, um next slide in terms of participation uh now just little priva these numbers are from 2425 because I wanted to have a full year's uh in in there. So these are the middle school participation numbers. So we're including grade six as well. So with all in we had 236 kids. Of them 83 were athletes. So that gives us a participating patient rate of just north of one-third of our kids participating in our athletics. Uh so 35.2% athletes at our at our schools. Now I I'll also say that that's just the number of kids on the field. Anytime that we have athletics, it also includes more kids because the kids are fans. the kids show up in support, it has a a beneficial effect on the school. Uh, next slide, please. We have, now this is this is our our high school.
We're paid by our investment provider. So, all of the money sits in the um it's a group fixed annuity is how it's uh is how the money is invested. We make 1% of all the money that sits in this account. It's not taken actively out of the account. We're just paid by our investment provider. Our thirdparty administrator makes money based off of the fees, the $5.50 50 cents and the $4 fee. We have an arrangement. The reason the special pay plan has no um fees on it is because we pay that to our third party administrator >> first and then >> so it sounds like I just want to clarify and make sure that I'm understanding correctly. If the district or maybe they already have, I don't know, but if the district does go with this plan, as a retiree that would be over 65 eligible for Medicare and my ASRS, I wouldn't have a choice other than do I want my payout to go into the um Medicare, Med >> medical one or the special pay.
Um, and then but it from a standpoint of living in the digital age, my preference would be this one. Um, and then Fabric of a Nation, that is the second one that I have a teachers copy of that one right now that I'm using for class and for pacing. The first two, either one, I'm not going to complain. The first one probably has more digital resources and probably would be better for students because of the immediate feedback, the toolbox that they have and everything that they can do on the computer and what was kind of presented to me. Um, with a digital textbook, I know some kids like a physical textbook and they like to be able to write things down. With the digital one, they're able to highlight, they're able to annotate, they're able to make their own notes, uh, define words, you know, things like that.
And so, I think having in in all of those situations, it's it's been about the same minimum. and knowing that it's for a town, it's been really great where I know some of the larger um nonprofits have a much higher minimum. Um so knowing that it's for towns on the route and having that minimum I think is very attainable. The one um the one piece of feedback I would say is nothing against our uh bill pay system and all that but uh I have had the experience of having to be able to do it through give and gain which is a lot of what other charities use. Um, and it is a much easier uh format for folks to donate. Um, whereas I know, you know, I pay my my excise tax and all that stuff. So, I know how that system works and I I can do it quickly, but folks that don't live in Ashland might find it a little bit difficult to use that municipal system to to end up finding the donation.
and and I do think innovative opportunities that could be potentially ahead of us and right before us would probably have to go on hold. Um and I'd hate to see that because I think they're opportunities that will benefit our students.
I know it says middle school, but I make mistakes and that's one of them. So, this is high school all the way. Uh, these numbers were taken from 20 from 2025 at the very end in May. So, typically our high school population is north of 201. There were 201. We're running this year closer in the 230s, more like 250 typically. Uh but in this case, running the numbers, we had 201 high school at that time and 107 athletes, which gives us more than half the kids uh participated in one or another of the sports across the year. So high high participation and even higher when you consider how how many kids are actually get involved in going to the game in going to the sales and participating and being part of the fun. Uh next slide. Uh so funding we are very well funded. Uh we uh this this district supports our sports in many many ways uh and in dollars.
That would be the only choice that I have. >> Correct. Yeah. >> Okay. >> Yeah. But if you wanted the payout, it would go tax deferred and then you can do that claim reimburse or the the distribution for it. >> If you're 55 and older and your money goes into the special pay plan, there is no time limit that it has to sit there. The day the account is funded, you can take the money out and there's no penalty. You will pay state and federal taxes. Of course, we're all very familiar with that. But there is no 10% penalty for taking the money out early. You can do it right away and you're still going to save that 7.65%. 55. >> When is this plan decided? Joel, >> so this uh came to triad as an option for uh benefit and so we're bringing it to meet and confirm to have a conversation about um the next steps in our process.
mark it up in a digital aspect. So we don't obviously it's not like a college course where they can they get to rent the book or they get to keep the book after it but when it is digital it saves everything for them. Uh fabric of a nation that is the teachers edition that I'm using right now pacingwise um this being my first year teaching AP US it probably has been the lifesaver for me because I know how to go step by step and what's expected on the test. um at the end of the year in May. And that one is probably both uh the American history the bring the McGra Hill one and this one are very similar. Um and I think they suit the our students needs the best. The last one experiencing history. I don't ever want to like talk bad about something but this would be like this is my third option.
>> Yeah. I've I've gotten that >> I've gotten that feedback as well, Nick. So, uh I definitely hear I hear that. So, thank you. >> Yep. >> Very good. Appreciate everything that you all have done so far to get yourselves ready. It's a long aruous road, but it's a road that's uh paved with gold at the end for sure. and we appreciate all your work that you're doing and all the committees and groups that are the beneficiaries of all your hard work are greatly appreciated and um I can say that because I know that throughout the years uh being involved with National Day and the summer concert programs a lot of our programs that are free uh free for that reason because you folks are the ones that generate that monies for these free concerts on Tuesday evenings. So, we thank you very much for that, as do the residents of town.
And so, um, you know, I but but we're here to answer any questions about the budget or the detail that maybe, um, after looking at it for this period of time, you might have had that weren't answered, uh, previously. >> I have a question just to follow up to what you had just said. Can and if if the budget is further reduced, are you able to accomplish any of your initiatives? Like is there room within our current um where we are not necessarily within the budget but where we are within the schools to move things around or are you handcuffed with any reduct? like so the the initiatives of like full K prek or full day prek and the special ed um investments that we want to make to you know move that program forward and and in turn bring some of those expenses back in house right can you do any of that if the budget is further reduced or are we at a standstill I'm just curious so that we can know now like ahead of time where we're going to be at >> so here's where the variables come in right yeah >> so if you think about how all that would have to play out >> you have to hire all those staff half first and train them.
Uh I want to point out that this is a lot of money. Uh, and if we've got the total there. If you go to the next, we've got Oh, well, you didn't see our total. Where did my total go? Um, well, forgive me. I The total is on there. I think this is now a a PowerPoint presentation and the bottom part got cut off. But if you add those numbers up, you'll have your total. Um, >> excuse me. Well, yes. Uh, but the point here is >> it is there. I do see it. Sorry. It is at the bottom of that slide. >> Oh, yeah. Just hiding way down. It's hidden. Yeah. So you're right. >> And I can't read it because I'm blind, but >> Well, there it is. >> $138,900 is the total if >> President Buendia for the win. >> Very good.