The Executive Management and Board of Governors of St Benedict's will embark on a comprehensive study to examine the financial sustainability of our school. In doing so, we must ask the tough questions and work towards finding those answers that would best address our school's unique position.
- Is our current financial model sustainable?
- If the model is not sustainable, how do we change it to ensure we have sufficient resources to support our academic, sporting and cultural programmes?
- How do we ensure that we can continue to attract, employ and retain top academic and sporting staff?
- How can we address the fixed costs of operating our school that are far outpacing inflation and tuition levels?
- How do we keep tuition costs as affordable as possible?
We are currently experiencing a "boom" and a "boon" at St Benedict's with record and increasingly selective enrolment. We are blessed with waiting lists at our intake points. We undertake this study from a position of strength, not desperation. However, like most independent schools in South Africa, we are completely reliant on tuition fees to cover our operating expenses.
A key component of this study will be to conduct the Financial Sustainability workshop offered by the Independent Schools Association of South Africa and a close examination of what have been identified as "The Markers of Success":
- Market demand
- Learner attrition
- Staff attrition
- Tuition levels
- Financial aid
- Productivity: learner/teacher ratio and learner/all staff ratio
- Professional development and technology
- Learner outcomes