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Funding Our Future

Funding Our Future. Site Meeting Presentation 2013-14 School Year. How did we arrive here?. Let’s think about Catholic education in the U.S. Catholic Education in the Peoria Diocese.

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Funding Our Future

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  1. Funding Our Future Site Meeting Presentation 2013-14 School Year

  2. How did we arrive here? Let’s think about Catholic education in the U.S.

  3. Catholic Education in the Peoria Diocese • 1839 - Request by Father Blasé Raho, Vincentian missionary in La Salle on behalf of Catholics in Peoria • Asked Bishop Joseph Rosati of St. Louis to invite The Sisters of the Visitation or Madames of the Sacred Heart to set up a school • 1863 - Sisters of St. Joseph established the first “official” Catholic school in Peoria ---------- Do you know the history and traditions of your school?

  4. 2011-12 Elementary School Income Elementary School Income (2011-2012) Income SourcesAmountPercent Tuition/Fees $19,997,510 48% Parish Investment $15,050,754 36% Development/Fundraising $3,063,816 7% Extracurricular $379,334 1% Other $3,256,590 8% TOTAL $41,748,004 100%

  5. Sample School Income Comparison

  6. 2011-12 Elementary School Expense Elementary School Expenditures (2011-2012) ExpensesAmountPercent Salaries/Benefits $31,487,286 76% Instructional Materials $1,003,620 2% Cafeteria $1,411,120 3% Extracurricular $376,777 1% Other $7,365,513 18% TOTAL $41,644,316 100%

  7. Sample School Expense Comparison

  8. How do we move forward? We must have a plan….

  9. Mission & Vision Lead the Way Planning Reporting and Analyzing Stewardship

  10. Long Range Financial Planning • Five-year financial planning strategy combines long-range strategic school objectives with funding alternatives • Driven by the Strategic Plan • What do we want to accomplish? • How much will it cost to…? • How can we afford to….?

  11. Current Situation • Funding Model Limited in Potential • All Families Subsidized Regardless of Need • Enrollment Trending Down in the Diocese • Subsidy Levels May Not be Sustainable • Few Schools Have Multi-year Financial Plans

  12. Key Features of the Funding Plan • Define the Cost of Education • Operate Schools with Efficient Staffing Levels • Increase the Percentage of Tuition Revenue • Shift Part of Parish Subsidy to Financial Aid • Strengthen Development Efforts _________ • Schools to Follow Good Business Practices • Increase Diocesan Financial Assistance

  13. How Do We Begin?

  14. Steps to Complete a Funding Plan

  15. Spotlight on Steps in the Process • Project Enrollment • Build a Staff Projection • Project Expenses – Project Salaries • Project Income • Parish Support • Development and Fundraising • Financial Assistance • Project Tuition

  16. Sample of Enrollment Projection

  17. Staff Projection to Complete

  18. Sample of School Expense

  19. Sample of School Income

  20. Sample of Tuition Worksheet

  21. Sample of Statistics

  22. Developing a Financial Projection • Begin with historical data • More than an annual budget • Template that incorporates using some “What if…” scenarios • Tool to guide decision makers • How best can we achieve our goals and realize our dreams?

  23. Realize the Power of the Projections • Adjust the variables • What are your options? • Move toward a new funding model

  24. Key Points to Remember • School and Parish are a business • Financial Statements: • Analysis only as good as information provided • Consistent reporting • Budgeting: • Long-range Financial Plan • Annual operating budget

  25. Faith in our Futureguides us inFunding Our Future

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