Narrative Fiscal Report 2008-2009 School Year

St. Mary Magdalen School

Narrative Fiscal Report

2008-2009 School Year

St. Mary Magdalen School ended the 2008-2009 academic and fiscal year on a sound financial basis. Despite the serious downturn in our national economy, the school’s anticipated revenue met projected and real expenses. Several programs were in place to meet expenses: a standard increase in tuition, fundraising which netted over $220,000, the parish subsidies, the annual fund which accepted pledges amounting close to $70,000, plus approximately 9,000 service hours. In addition, 100% of school families met their church pledge of Sacrificial Giving. All these contributions combined provided the needed dollars to meet the actual cost of educating a student at St. Mary Magdalen School.

The school’s enrollment also remained relatively stable at 420. Graduating students plus families moving out of the area were replaced almost equally with new enrollees. 92% of the students were Catholic and 35% were of other than Caucasian ethnicity. School families carpooled from eighteen zip codes – from as far away as Arlington, Whidbey Island and Shoreline. Preschool enrollment continued to be a solid foundation for future growth of the school population. Remarkably, 27 families had a parent who graduated from St. Mary Magdalen. Service to the parish and community continued to be a focus. Eighty-six students participated as Altar Servers and over one hundred cans of food were collected each month for the St. Vincent de Paul Food Bank.

While there was an increased need for financial assistance with 13% of school families receiving help, and while that need is expected to grow more in the future, responsible stewardship enabled the school to accomplish its mission in providing an excellent education in a Christ-centered environment.

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