Bellarmine College Prep FY 09 Budget and Salary Increase

1
Bellarmine College PrepFY 09 Budget and Salary
Increase

• Faculty/Staff Annual Budget Meeting
• February 29, 2008

2
Bellarmine FY 09 Operating BudgetExecutive
Summary

• Income
• Tuition increase of 7.8 to 13,800. 
• Financial Aid will be 2,400K up 200K, or 9.1,
  from FY 08. Funding for Financial Aid will be
  provided by
• 1,198K from the Endowment 180K increase over
  FY 08.
• 700K from Direct Financial Aid.
• 502K will come from other revenue streams.
• Summer Program income reduced due to Gym
  renovations.
• Income from the Auction, Alum/Parent Activities,
  Parent Fund and Annual Gifts used to fund school
  operations is reduced to 1,120K in FY 09 from
  1,245K in FY 08.
• Earnings from the Endowment to support Programs
  and Professional Enhancement increase to 1,279K
  from 1,122K in FY 07.
• Total income increases 5.6 to 25,680K.

3
Bellarmine FY 09 Operating BudgetExecutive
Summary(continued)

• Expense
• The pay increase for Faculty Staff will be
  5.0.
• The cost of medical benefits increases 14.0.
• Direct Expense increase 3.1.
• Utilities increase 6.0.
• Property Liability insurance decreases 10.4.
• Interest Expense increases 132K due to financing
  of new parking.
• Other Indirect Expense increases 5.0.
• Capital Projects (Renewal Replacement) remains
  constant at 700K.

4
Bellarmine FY 09Operating BudgetExecutive
Summary(continued)

• Surplus
• Operating Surplus of 36K
• Cost per Student
• Cost per student increases to 16,452 in FY 09
  an increase of 6.2.
• Gross Tuition per Student as a per cent of Cost
  per Student increases to 83.9 from 82.6 in FY
  08.

5
The Faculty Pay Increase ModelApproved January,
2004Re-Approved December, 2006

• In November of each year faculty pay increases
  for the following school year will be computed in
  the following fashion
• Current salaries for teachers in the five Santa
  Clara County Secondary Schools will be secured
  from information available to the public.
• An average of the three highest paid schools in
  each category will be computed.
• Separately the Cost of Living percentage increase
  for the current year over the prior year for San
  Jose/San Francisco/Oakland will be determined by
  using http//www.newsengin.com/neFreeTools.nsf/CPI
  calc?OpenView
• If Bellarmines salaries in each of the
  categories relative to the three school average
  are
• Less than 100.0 --- the Bellarmine pay increase
  will be the percentage necessary to equal 100.0
  plus the Cost of Living percentage increase
  (increases greater than 10.0 will be
  negotiated).
• Greater than100.0 but less than 110.0 --- the
  Bellarmine pay increase will be the Cost of
  Living increase only.
• Greater than 110.0 ---no increase will be given
  to Bellarmine teachers.

6
Bay Area Consumer Price IndexAll Items
Source U.S. Dept. of Labor Base
Period 1982-1984 100
7
Bellarmine Faculty Salary Comparison
8
Income per Student vs. Cost per StudentFY 08
Forecast Compared to FY 09 Budget
9
2007-08 Financial Aid by School
10
San Jose Catholic High School Comparison