Standard 10 Guidelines
Standard 10: An excellent Catholic school provides a feasible three to five year financial plan that includes both current and projected budgets and is the result of a collaborative process, emphasizing faithful stewardship.
Benchmark 10.1 The governing body and leader/leadership team engage in financial planning in collaboration with experts in nonprofit management and funding.
Benchmark 10.2 Financial plans include agreed-upon levels of financial investment determined by the partners involved who may include but are not limited to parishes, dioceses, religious orders, educational foundations, the larger Catholic community, and responsible boards.
Benchmark 10.3 Financial plans define revenue sources that include but are not limited to tuition, tuition assistance/scholarships, endowment funds, local and regional partnerships, public funding, regional cost sharing, (arch)diocesan and/or religious communities’ assistance, foundation gifts, entrepreneurial options and other sources not listed.
Benchmark 10.4 Financial plans include the delineation of costs for key target areas such as instruction, tuition assistance, administration, professional development, facilities, equipment, technology, program enhancement/expansion, capital projects and other planned projects.
Benchmark 10.5 Current and projected budgets include a statement of the actual and projected revenue sources, indicating an appropriate balance among revenue sources, and a statement of actual and projected expenditures including the actual cost per child, benchmarked compensation/salary scales, and other health benefits and retirement costs.
Benchmark 10.6 Financial plans include educational materials for distribution to all members of the community explaining the total cost per child and how that cost is met by identifying the percentage of cost that is paid for by tuition and the remaining amount of cost that is supported by other sources of revenue.
Benchmark 10.7 The governing body and leader/leadership team provide families access to information about tuition assistance and long-term planning for tuition and Catholic school expenses.
Benchmark 10.8 The governing body and leader/leadership team ensure that appropriately developed financial plans and budgets are implemented using current and effective business practices as a means of providing good stewardship of resources.
Download All Benchmark Guidelines for Standard 10