fees paid by parents as a percentage of total operating revenue;
where it falls short, however, is in the area of annual giving
and endowment. For Saltus to grow and continue to upgrade
its facilities in the future, an increase in annual and capital
giving must occur. This is an area in which the School has not
achieved top performance as of late.
reason due to the number of maintenance projects which have
been necessary over the past three years and in the coming
year. once this period of major upgrades is complete, it is
expected Saltus will fall in line with the median of the other
schools. Saltus's teaching area per square foot is at the median
of 170 feet.
expenses per student while its administrative staffing head-
count falls in line with the median of other schools. Information
technology costs as a percentage of total operating expenses
are twice the median and total information technology costs
per students are 1.5 times the average. These areas of concern
will be addressed through the followup on the Technology
Audit in 2013 and forward.
A
L
B
to all Bermudians, regardless of economic background.
We have an endowment base of $4,293,160 and
committed donors to assist us with our goals.
current economy, but Saltus was delighted to award
$1,108,822 in financial aid and scholarships to 141
students, 12 percent of our population, during the year
ending June 30, 2012.
the new economic realities facing our student population
and is committed to assist those mission-appropriate
students in need.
In an effort to improve financial controls and ensure financial
statements represent the full cost of providing an education,
Saltus introduced an Activity Fee in 2012. The fee was
designed to cover many incidental expenses which parents
were previously requested to pay in addition to tuition costs.
The graph and chart depict how the Activity Fee was allocated.
A deficit was exhibited at each year level, most significantly in
Upper Primary and SGY2.
As Saltus enters the next academic year, student numbers are
targeted at 927 and the first day of class met this target. Fiscal
2013 will be the final year in its major capital improvements
drive, with an eye to moving to a preventative maintenance
mode to maintain its facilities into the future. With continued
excellence in teaching, a renewed thrust to integrate technology
in the classroom, a dedicated, mission-appropriate student
body and a refined financial-aid structure, Saltus has once
again positioned itself as the school of choice in Bermuda.