Subject: Letter from the Board of Trustees
From: "Sidwell Friends School" <[email-masked]>
To: "R. Hunter Biden" <[email-masked]>
Date: Tue, 30 Dec 2014 22:00:10 -0500

Tuesday - December 30, 2014

		

		 
			
				Dear Parents:The Sidwell Friends Board of Trustees has approved the budget for the 2015/2016 school year and we want to share the highlights with you. The challenge in building the annual budget is balancing the resources needed for strong academic programs, competitive faculty salaries and benefits, and the upkeep of our physical infrastructure and grounds, while at the same time minimizing tuition increases.After much analysis, the board has approved the tuition for all grades at $37,750 for school year 2015/2016.Each year, careful consideration is given to aligning the priorities of the School within a budget that reflects both operational efficiency and the generation of non-tuition revenue. In this year&rsquo;s process, particular attention was given to revenues and the allocation of resources in each of the divisional budgets and no material difference was found in per student expenses in the Lower, Middle, and Upper Schools. Therefore, an increase has been made to the Lower School tuition so that all grades will now have the same tuition.The budget also reflects the board&rsquo;s ongoing commitment to investing in programs that support the Long-Range Priorities. Students are already benefitting from new opportunities in interdisciplinary programming in the Lower and Middle Schools and expanded global opportunities and new course offerings in engineering and science in the Upper School. Ongoing innovations to the curriculum and student programs are underway across all the divisions. The board also remains committed to supporting salary increases beyond inflation so that Sidwell Friends can continue to attract and retain a superb faculty and staff. (Employee compensation is approximately two-thirds of operating expenses.)Finally, trustees are currently engaged in strategic conversations about the School&rsquo;s financial model. We are exploring the role of endowment resources to enhance and expand programs and reduce dependence on tuition. This commitment is fully shared and supported by Bryan Garman, the new Head of School, and we look forward to working closely with him when he arrives in January.Throughout the budget process, we have remained mindful that the cost of an independent school education places a heavy burden on many of our families. We will continue to make financial aid a priority and prioritize philanthropy for financial aid, with a goal of increasing the percentage of the annual budget allocated to financial aid from 16 to 18 percent.We hope this information helps illuminate some of the factors at work in determining the annual budget and adjustments in tuition. As always, we welcome your comments and encourage you to share your questions and suggestions with us. And we thank you for your support, engagement, and partnership on issues that matter deeply to our community.With warm wishes for a happy and peaceful 2015,Lissa MuscatineClerk of the [email-masked] Neal WilsonTreasurer and Finance [email-masked]

		

		

					

					

					

					

					

					

				

		

		
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