Thanks Rufino. I am
still working on the paper clarifying the tuition fee structure of
St. Mary’s School and I am awaiting monthly income statements for
this year, so I can project total expenses. I want to be very
accurate in my figures so everyone knows what is happening. I have
already given an informal presentation to the parents two weeks ago,
so they know what percentage of the true cost of education is coming
from their payments, what percentage comes from the government
(ESC), and what comes from alumni support on operations. I also
showed them the deficit on the 2004-2005 school year, and what I
expect the deficit to be this current year, and how Rhoda and I have
been advancing money in order to pay teachers on time. Finally, I
will come up with a plan based on my analysis which will address the
deficit problem temporarily until the endowment fund is set in
place. I applaud John
Alipit’s endowment drive and the sale of the land that I have
donated to St. Mary’s will help on the long term, but until these
things happen, I honestly believe that our “faculty chair” concept
(sponsors for teacher salaries) will be the answer to the
immediate operational needs of the institution.
I expect to publish this to the alumni and the website before
Christmas or shortly thereafter. The next two weeks are very busy
preparing for Foundation Day and our Christmas celebrations.
