St. Isidore SchoolFinance and Budget Parent Meeting

February 7, 2013

Diocese tuition goals for all Catholic schools:

1 child 2 children 3 children

100% 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 $150,000

So next year will be $131,000 less than six years ago, and we have been told, this downward trend of support will continue.

School ExpensesYEAR Actual

2010-2011Actual2011-2012

Projected 2012-2013

Projected2013-2014

AMOUNT $1,347,010 $1,256,155 $1,181,286 1,213,308

So we have good control over our expense stream from year to year. We need to have that same level of control over revenue coming in to balance the budget.

There are other factors that we have been looking at to determine impact so that we can plan for and prevent unforeseen 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- $743,100parish subsidy- $115,000 diocese- $150,000other- $108,000fundraising $ 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 Children

2012-2013 $4,200- 100% $5,700- 136%

$6,500- 155%

2013-2014

12 mo. pmts.

$4,500- 100% $375.00

$6,500- 144% $541.67

$7,500- 166% $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. Isidore School- 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.