Sunday, April 29, 2012

RYNJ Announces 2012/2013 Budget

Thanks CJ for posting this letter.  I moved it from the comments section to a new Post so everyone would see it.  

April 27, 2012

Dear RYNJ Parents,

This past week, the Board of Directors adopted a budget for the 2012 – 2013 school year. As guardians of our children’s and grandchildren's education, we are committed to ensuring that the Yeshiva's finances remain on solid footing. To that end, the administration and board worked tirelessly to find ways to contain costs while continuing to maintain and improve upon our excellent educational standards.

I am pleased to report that tuition at the Rosenbaum Yeshiva of North Jersey will remain flat for the upcoming school year. The only exception is the decrease in fees that was announced in our Preschool Enrollment Package last fall. We are proud to have had no significant increase for the past 4 years and we remain committed to keeping our tuition steady for the foreseeable future. 

In a show of appreciation to our dedicated staff, the new budget provides for pay raises as well as funding for teacher training and professional development to further our goal of continuous improvement. In order to serve the needs of our children, we plan to undertake a number of small building construction projects this summer. These will include an expansion of the lunchroom, renovation of some of our student restroom facilities and updating the outdoor play area with new surfacing. 

In an effort to simplify our fee structure and in response to concerns expressed by members of our parent body, the Board of Directors has voted to implement the following changes and procedures: 

1) Elimination of Incidental Fees – Tuition payments now include all incidental fees. Fees for trips, special projects, siyumim, and snacks will no longer be collected from parents throughout the school year. Our administration and board have put a great deal of effort into finding funding for these items in the budget so
that parents will not be subject to small payments throughout the year. Please
note that this is a pilot program and that it does not include any PTA programs
or graduation trips and fees. 

2) Building Fund Payment Structure – As an accommodation to new RYNJ parents, the $8000 Building Fund will now be payable over 8 years and will be billed at $1000 a year beginning in the oldest child’s Kindergarten year. This replaces the current payment schedule that requires a $2000 payment in the first year and a $1000 payment in successive years. 

3) Consolidation of Fees – In order to simplify our fee structure, the annual dinner
journal obligation of $850 and security fee of $400 will be combined into one family obligation of $1250. Payment of this fee entitles parents to 2 nontransferable tickets to the dinner and a $250 ad credit. Families whose oldest
child is in Nursery or Pre-K will have a family obligation of $400.

4) FACTS – RYNJ has partnered with FACTS, a well-known tuition management company used by many area schools to process tuition payments. Families who pay their tuition through auto-matic bank payments will now enroll with FACTS to ease the payment process. Parents will have access to a convenient online payment plan sign up, a plan administrator who will be available for issues like holding a payment and email reminders when payments will be with-drawn. Additional information on FACTS will be forthcoming in June with tuition contracts. 

We extend gratitude to our Finance Committee who worked tirelessly to prepare a budget that is fiscally responsible, recognizes and appreciates our staff’s dedication and maintains our commitment to Torah scholarship and academic excellence, while being sensitive to the hardship that paying for a Yeshiva edu-cation may create. 

We are excited that projected enrollment for 2012-2013 is once again at a record high and with the help of our administration, faculty and staff, we remain dedicated to providing all RYNJ students with a first class Limudei Kodesh and Limudei Chol education. We strongly believe that every Jewish child deserves a Torah education. If this proves to be a burden to any family we will offer financial assistance to those in need. 

With the help of the Ribbono Shel Olam, may we all be blessed with a successful year and continued nachas from our children. I invite and encourage you to contact me with any comments, questions or concerns.

Rabbi Yehuda Rosenbaum, President