FINANCE

St. Joseph High School knows that, in addition to its education and social missions, it must be financially responsible and secure. To that end, it employs a rigorous approach to its financial oversight. The Executive Director of Finance and Development (Executive Director) partners with the Board of Directors to oversee an annual operating budget whose metrics seek to deliver an annual profit margin after all expenses between $50,000 and $100,000.

The Executive Director provides quarterly financial statements to the Board of Directors. In tandem with the finance subcommittee, the Executive Director participates in quarterly board meetings to review current financials and assess future projections. Finally, the Executive Director delivers full quarterly financial reports to the entire Board.

The financial objectives of St. Joseph are:

• A strong balance sheet with positive annual operating margins, i.e., revenues greater than expenses

• The reduction of debt by at least 33% by June 30, 2025 through a combination of budget surplus and major gift resources and to continue reducing further beyond 2025

• Strong financial oversight including rigorous control procedures, robust reporting cycle including annual budgeting, financial planning, and quarterly reporting with an annual full audit

• A sustainable operating model that is less dependent on tuition and fees and more dependent on sustainable Development revenue; e.g., grants, multi-year gifts, Foundation gifts, etc.

• A multi-year operating budget that integrates the strategic planning goals and objectives