Also, if the budget went down why is there a need for an increase? Did scholarship demand go up or donations go down so much in one year?
___________________________________
Dear
Fellow Moriah Parents:
Last
evening, the Board of Trustees adopted a budget for the coming academic year.
This is a challenging process recognizing the inherent hurdle of balancing
academic excellence with our commitment to keep a Moriah education accessible
to all and being fiscally responsible. We believe the guiding principles
employed throughout the process serve us well. They are as follows:
·
Continually advance our program
·
Maintain our financial needs-blind policy
·
Minimize financial impact to parents
·
Treat staff respectfully
The
board meeting was the final step in an extensive process that began in
December. The administration, finance committee and executive committee,
invested significant time and effort to ensure that we meet all of the primary
objectives. It is imperative to note that as part of the process we have
challenged all material operating expenses and have made cuts, as appropriate, while
maintaining the quality of education. Over the past three years, we have
reduced our overall budget from 15 million to 13.3 million dollars and we
continue to explore additional reductions which will not have a negative impact
on our educational program.
We
are pleased to be offering our faculty and staff a modest salary increase for
the coming year. Moriah continues to lead our Bergen County peer schools
in overall compensation packages. This will allow Moriah to continue to attract
and retain the best faculty and administration.
Factoring
these changes, gaining staffing efficiencies as well as operating expense cuts,
tuition will need to be increased for grades 1 - 5 and grades 6 - 8 by $600 and
$800, respectively. This increase honors our fiduciary responsibility of
balancing continued academic excellence while controlling costs.
Despite
the financial volatility in the world outside, there is the gratification
within our school - that eager students continue to be challenged and engaged
in meaningful learning. We are fortunate to have a dedicated administrative
team and an equally talented teaching staff.
Special
thanks to Yussie Leiser, whose financial acumen and historical understanding of
the budget are unparalleled. We would also like to extend our gratitude to the
administrative team and business office who labored tirelessly in arriving at a
fiscally responsible budget. Finally, thank you to the Board of Trustees,
Executive and Finance committees for their dedication to this process.
Warmest
Regards,
Michael
Goldsmith - President
Jeremy
Schwalbe - Chairman of the Board
Dr.
Elliot Prager - Principal
