All Saints Catholic School 

School Finance Council Minutes

12/13/04

Attendees:  Martie Owan, Margherita Rader, Carolyn Bisulca, Jeff Schneider,

                    Niki Goodman, Mike Maxwell

Minutes were approved from the prior meeting as written.

November financials were distributed and reviewed.

Discussion items were as follows:

• Diocesan Insurance per child cost coverage – needs to be added to budget
• Two major concerns identified with 2004-05 budget

§         Utility costs – electric underestimated in the 2004-05 budget – will need to increase to $9 – 10K per month for 2005-06 budget

§         Contributions for tuition assistance - $15,000 donation received but not on books for tuition assistance

• Mike Maxwell reported that Parish is anticipating a $120K - $130K shortfall in Parish budget
• Fall Festival monies requested to be set up as deferred subsidy
• Initial Distribution prior to January 1^st   with balance of monies distributed in spring

• Marketing of school important within parish and in the community at large
• We need a vision for the future to protect investments

Copy of 5 Year Budget Proposal was distributed by Carolyn.  Members are to review and provide feedback to Carolyn by January 1^st.

Next meeting of Finance Council is set for Thursday, January 6, 2005.