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Dear Parents and OLF Families,
This is the time of year for budgetary preparations and sound financial planning for our learning community. Many people would prefer not to think about numbers, mathematics, budgets and limited resources around Easter and the holidays.
The reality is that accurate calculations, trend analysis and thorough review of options are effective tools for the budgetary decision-making process. Our Finance Committee has done outstanding work over the past two school years in three areas:
Basing our budget on prior actuals and trends
Trimming automatic percentage increases
Providing support for Diocesan compliance
As you may remember, last school year one of our major accomplishments was the alignment with the Diocesan teacher salary scale, something that was much needed and had eluded OLF in prior years. We also invested in a financial advisor who assisted our bookkeeper with the new Diocesan Chart of Accounts and other compliance requirements.
This has proven very beneficial and we are definitely making some major advancements in the transparency and accuracy of our financial stewardship. Having a good solid foundation to build on is paramount if we are planning for the future. Hard economic times in our communities have made us prudent, hard work in our financial planning has made us effective in the allocation of resources.
As we finalize our budgetary considerations for 2013-14, we balance the needs for affordability, academic excellence, competitive edge, operational efficiency, parochial collaboration and vision for the future.
These decisions are complex and are driven by the mission of our school. How to make quality Catholic education affordable and accessible to all students? How to raise standards continuously to ensure the advantages of a quality Catholic education? How to promote ample room for rapid growth in areas such as technology? How to maintain adequate campus facilities for a safe and happy learning environment for all?
The key is to have a good team of dedicated professionals who want the best for every child in our trust. This, we have at OLF! Thank you, Cindy Clark, Darrin Vallone, Tom Senske, Allison Bodenweiser, Father Mike and Rich Lodyga for working together to ensure financial health and student success!
Blessings,
Beate Nguyen, M.A. Ed
Principal
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