St. Isidore SchoolFinance and Budget Parent Meeting February 7, 2013
Diocese tuition goals for all Catholic schools:1 child 2 children 3 children100% 150% 200% What does that look like compared to our tuition rates? 2012-2013 1 Child 2 Children 3 Children Diocesan Goal $4,200- 100% $6,300- 150% $8,400 %200 Current Tuition $4,200- 100% $5,700-136% $6,500-155%
So how do we achieve the diocesan goal?• We are required by the diocese to prepare a 5 year plan.• We must move forward with the 5 year plan AND balance the budget each year.
What makes it all worth it?• Catholic Schools provide spiritual and moral development as part of teaching the whole child• Catholic School Graduates consistently score 1/3 higher on standardized testing• Catholic School graduates are more likely to act in service to their community• 100% of our students in 8th grade the last 2 years have been accepted to their Catholic High School of choice• 98% of Catholic School Graduates complete high school and seek higher education• More than 80% of Catholic School graduates participate in extra-curricular activities in high school such as sports, community service, spiritual endeavors
Diocesan Support: Year Amount 2007 $281,000 2008 $190,000 2009 $190,000 2010 $184,300 2011 $184,300 2012 $160,000 2013 $150,000So next year will be $131,000 less than six years ago, and wehave been told, this downward trend of support will continue.
School ExpensesYEAR Actual Actual Projected Projected 2010-2011 2011-2012 2012-2013 2013-2014AMOUNT $1,347,010 $1,256,155 $1,181,286 1,213,308So we have good control over our expense stream from year toyear. We need to have that same level of control over revenuecoming in to balance the budget.There are other factors that we have been looking at todetermine impact so that we can plan for and preventunforeseen shortfalls in the future.
The 2013-2014 projected budget amounts:• $1, 213,308 expenses (projected for 2013-2014)• Revenue projections with tuitions set for 2013-2014 based on current enrollment: tuition & fees- $743,100 parish subsidy- $115,000 diocese- $150,000 other- $108,000 fundraising $ 55,000TOTAL: $1,171,100• Will fundraising fill that gap? The diocese has projected $55,000 as the average amount we raise.• The answer is increased enrollment. Even 10 children will yield $45,000. 15 with 5 second child will yield $77,500 more revenue.
What does that look like in terms of tuition payments for next year 2013-2014? 1 Child 2 Children 3 Children2012-2013 $4,200- 100% $5,700- 136% $6,500- 155%2013-2014 $4,500- 100% $6,500- 144% $7,500- 166%12 mo. pmts. $375.00 $541.67 $625.00
What can you do to keep tuition increases low?• Work, attend, advertise and support fundraising to greatest of your ability.• You’re the best PR for St. IsidoreSchool- take advantage of the new incentive- bring in 1 new family receive a $250 credit, 2 families another $150, 3 families another $100= $500.• Pay your tuition in a lump sum- 2% reduction.• Apply for Tomorrow’s Hope- last year, St. Isidore families received received a total of $36,000 in tuition assistance to defray the costs.