ALL SAINTS CATHOLIC SCHOOL FINANCE COMMITTEE

MINUTES

OCTOBER 18, 2004

Attendance:          Carolyn Bisulca, Niki Goodman, Martie Owan, Margherita Radar, Jeff Schneider

Minutes from the 9/13/04 meeting were approved with corrections.

Niki presented the September 2004 Financial Reports.

• Niki voiced concern over the amount of money that must be raised under “Contributions” in order to balance the operating budget.  It was noted that progress is being made toward raising the money.  The school will be receiving $10,000 from The All Saints Endowment Fund.  Also, the school received sponsorship for 2 tuitions.
• After School Eagles Club Income (after expenses) are currently exceeding budget projections.  Niki will make changes to the financial reports to show income before expenses and expenses will be added (under Programs).
• Electrical bill for September was very high.  It may have included more that one month.  Work is being done to better balance the air conditioning throughout the building.  Future bills will be monitored closely.

Carolyn stated, that as part of the self-study for accreditation, the committee (Finance) assessing “Governance, Administration, and Management” requested 2 new reports.

·        Tuition Collection Report to be generated by the school business office.  Niki will develop the format for the school to use.

·        Operating Budget Tracking Report.

Carolyn presented a timeline for the operating budget process:

·        The committee recommended some additions/changes to the timeline.

·        Jeff will present the revised timeline to the Parish Finance Council.

The committee had some initial discussions on the 5 Year Plan with regards to enrollment and staffing.  In depth work on the 5 Year Plan will begin at the next meeting on November 8, 2004.