Goal 8: Secure Our Financial Health & Future

Christian Brothers High School will ensure and enhance its strong financial operations to support the strategic direction, long-term viability, and sustainability of its nearly 150-year legacy of providing quality and affordable education.

Main Objectives & Priorities

  1. Ensure the school remains affordable and accessible at all income levels by providing need-based financial assistance to qualified students through a well- defined and implemented process. 
  2. Align the operational budget with the strategic plans for all domains while exploring and evaluating opportunities for additional revenue streams and areas for cost reduction. 
  3. Evaluate the finance department to determine the appropriate staffing and tools to conduct effective and efficient fiscal operations and create best practices.
  4. With the help of a task force, assess current pension and retirement benefits to communicate and adopt a fair and sustainable program for employees.

Action Items to Achieve Goal Eight

Year One

  • Develop a short-term action plan to mitigate concerns about the unfunded pension liability.
  • Develop a long-term strategic plan to withdraw from the employee retirement pension plan.
  • Monitor and compare similar local and faith-based schools’ retirement pension benefits and contributions. 
  • Update long-term financial projections with current financial factors. 
  • Review the existing tuition process and endowment guidelines and determine if there are adjustments that can be made to align CB more closely with its mission. 
  • Research opportunities to increase revenue streams and decrease expenses to ensure long-term sustainability.
  • Assess the personnel structure of the business office to ensure best practices and efficiencies and make recommendations for improvement.

Year Two

  • Make recommendations on revenues and expenditures.
  • Implement a short-term action plan to mitigate concerns about the unfunded pension.
  • Implement a long-term strategic plan to withdraw from the pension plan.

Year Three

  • Plan and project for the financial future of CB, considering targeted enrollment, class size, tuition costs, tuition assistance, and endowment.

Year Four

  • Implement financial plans, considering targeted enrollment, class size, tuition costs, tuition assistance, and endowment.

Year Five

  • Assess and review the financial health of CB as a whole.