ANC Secondary Schools
Managing Director’s Report
James M. Adams
W
We are also benchmarking our expenses with
schools similar in size to ours in order to make
sure that we are following best practices and
trends.
This past year we were successful in reducing
our budgeted expenses as follows:
e ended the FY2013 with a $2.7 million
deficit. This is 16% favorable compared to
our budgeted deficit of $3.25 million. We continue
to be on target to return to a balanced budget by
2017. (In FY2010 our deficit was $5.2 million.)
Donations
• Program expenses $300,000 reduction
• Housing expenses (dorms) $71K reduction
• Administrative expenses $140K reduction
Thanks to the generosity of our donors we were
able to increase our donations from $300K in
FY2012 to $1.2 million in FY2013. This focus on
donations is to make up for the decrease in endowment payout due to the stock market decline
in 2008 and a portion of endowment being segregated to pay off Academy wide debt. ANC Secondary Schools’ endowment payout has gone from $5
million in FY2009 to $2 million in FY2013.
We have cut over $600,000 in program costs
compared to their highest point in FY2011. The
majority of these cuts came from facilities and the
elimination of an advertising campaign. We have
also cut $1.3 million in administrative costs.
Secondary Schools
Expense reductions
Our student enrollment was at 201 for the 20122013 school year. In May, the Secondary Schools
graduated 58 students (24 from the Girls School
and 34 from the Boys School).
The breakdown by class last year is shown on
the chart on the opposite page.
We continue to analyze and track all expenses. If
one area is trending over budget we look for other
areas we can reduce with the goal of meeting or
exceeding our targets. We have developed a dashboard to help us track our expenses and show us
how we are doing in each category.
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