Back in January the Finance Committee began meeting to establish our budget for next year. We reviewed Final Statement of Operations for the last several years, a list of Budget Building Factors published by the Archdiocese, and our current financial statement that shows our planned budget and actual income and expenses for this school year. Using this information we began our deliberations.
Going into our first meeting this year, the Finance Committee estimated that tuition would have to increase by 5 %. After several meetings and carefully looking at financial trends and next year’s predicted enrollment, we have been able to establish a healthy budget with only a 4.5 % increase. As always, our first priority is to serve the children and families of our community.
Please carefully review the information that follows because there are a few changes that you should note. Specifically there has been an increase in tuition and we will be charging tuition for “fourth children” at the same rate as “third children.” Star families who started here before August 2013 will be grandfathered in and not have to pay for “fourth children.” Also, please note that our Pledge Program (described below) is still a critical part of our budget.