Trustees at the regularly scheduled board meetings along with the detailed reports via Dropbox. The budget process for the subsequent school year begins at the Finance Committee’s October/November meeting where the administration presents a summary budget and informs the Finance Committee of proposed tuition increases. The committee considers the tuition increases, assumed attrition, anticipated new students, financial assistance, compensation, employee benefits, and other economic factors in determining a preliminary budget. In December/January, the Board of Trustees votes on the tuition increases proposed in the preliminary budget. After review of the preliminary budget and approval of tuition rates by the board, the enrollment office begins the process of re-enrollment for the next school year. In January through March, the Business Office coordinates the collection of data from the division directors f or the coming year’s activities in order to determine divisional staffing and spending needs. These requests are reviewed by the Director of Finance and Operations and the Head of School in order to be incorporated into the school’s preliminary budget . . The preliminary budget is presented to the Finance Committee in May for the committee's discussion and review. The school’s management receives the committee’s input and incorporates any recommendations into a final preliminary budget draft. The Finance Committee recommends this preliminary draft to the Board of Trustees at its May meeting. The approved preliminary budget is the plan the school’s administrators use to gui de their activities in preparing for the next fiscal year. The content of the preliminary plan is the foundation for net tuition revenue targets, compensation, staffing, and all operating decisions for the upcoming year. The following August, after opening day enrollment is known, the school’s administrators present a final budget for the Finance Committee and the Board of Trustees ’ approval, after which the cycle begins again. The school’s operating budget is approximately $ 8.3 million for the year ended June 30, 2021. Approximately 72% of the school’s operating budget comes from tuition ($6.0 million), 7% ($0.3 million) coming from camp and extended day fees, with fundraising at 6% ($0.5 million), other grants at 3% ($0.3 million), endowment draw at 1% ($0.1 million) and other income at 5% ($0.4 million). Endowment The school’s en dowment balance at June 30, 2020 was approximately $2.3 million. The endowment is managed by the school’s Investment Committee with monthly updates given to the Finance Committee, Executive Committee and Board of Trustees. The role of the Investment Committee is to assist the board in establishing an appropriate investment strategy to preserve and increase the value of the school’s portfolio. The school’s endowment is pri marily held by Dallas Jewish Community Foundation with the funds invested in Graystone Passive Balanced funds (60%) and Graystone Stable Value funds (40%). The committee is composed of a combination of trustees and
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