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OUR LADY OF MOUNT CARMEL STUDENTS ARE 

ACTIVE CHRISTIANS, SOCIALLY RESPONSIBLE, KNOWLEDGE SEEKERS 
 
From the Principal's Desk 

March 21, 2018
 
Dear Families,
 
The 2018/19 budget was presented by Alexandra Matei, Finance Committee Member, at the March 13th School Board meeting and the March 12th Parish Finance Committee meeting. The budget, as prepared, was unanimously approved by both the Board and the Finance Committee and accepted by Father Ulysses and me.  Highlights of the budget include:
  • 4% tuition increase for grades TK - 8
  • $355 per student registration fee for grades TK - 8 ($5 increase from 2017-18)
  • $250 per family Scrip profit commitment (5/1/18 - 4/30/19)
  • $90,000 allocated for tuition assistance with money coming from funds restricted for assistance. No money will come from the 2018-19 operating budget.
  • Salary increases on average of 3.5% per Archdiocesan guidelines and a 4.5% projected increase in health benefits.
  • Junior high science teacher and part-time math teacher
  • New textbooks for grades K - 6 social studies and grades 6 - 8 science program.
  • Consumable workbook replacements
  • Release of restricted funds for Technology
  • Release of restricted funds to continue classroom renovation projects
  • Release of restricted funds to support library collection growth
  • Enrichment teacher 1/5 time for small group instruction for grades 2 - 5.
     
The cost to educate each student next year, based on an enrollment of 286 TK - 8 students, will be $8,780. Tuition for one student is $7,100. Therefore, $1,680 per student will be generated through fund raising, restricted funds, registration fees, support from A Kid's Place, interest income and grants.  The budget is balanced at $2,512,620 with $222,750 being generated from fundraising and $167,000 from restricted funds.  
 
There are several different types of tuition assistance available to families. Over the past several weeks, they have been posted in the announcements with links to the various application sites. To recap:
  • Archdiocesan Family Grants - a program designed to assist families who live in the Archdiocese and have serious financial need. There are very few of these grants awarded annually. Information must be submitted online to TADS, a 3rd party data collection agency by the deadline of April 15th.
  • BASIC Fund - a privately funded program that provides partial-tuition scholarships
    to low-income families in the Bay Area. Eligibility guidelines range from $38,103 for a family of two - $96,417 for a family of 8. Guidelines for larger families may be obtained by calling 415-986-5650. Application deadline for new applicants has passed, but families may still apply for a wait list. If funds become available during the summer, wait list families will be notified. Deadline for renewing students is April 20th. If you have not yet received your renewal forms, please see Mrs. Mock.
  • Our Lady of Mount Carmel School Tuition Assistance Program helps families who may or may not qualify for one of the other programs listed. Families must submit information online to TADS (you may have already submitted this for the Archdiocesan Family Grant or for a Catholic high school student's tuition assistance program) and then complete the OLMC Tuition Assistance Form online (link coming soon). Our Lady of Mount Carmel School's financial aid program does not have income limits. Factors such as siblings in private high school, college tuitions, special family situations, one or two parent incomes, job changes, and pre-school and daycare costs are all taken into consideration when allocating these funds. Application deadline is April 15th. 
In closing, thank you to the Finance committee for their time and effort to help create a learning environment that meets the needs of our community, supports a sound academic program and affords the opportunity for families to receive a Catholic education.

If you have any questions or concerns, please do not hesitate to get in touch with me. 
 
Blessings,
 
Teresa Anthony, Principal
tanthony@mountcarmel.org