Budgetary Need and Deficit Reduction Drive

Budgetary Need and Deficit Reduction Drive

On February 27, 2017 the Board of Timothy Christian School compiled a draft budget for the 2017/18 school year.  While we remain confident in the providential hand of our Lord, we feel it necessary to share with the community the current financial situation in advance of the Spring membership meeting. 

Working within the guidelines adopted by the membership, the Board and its committees considered several factors as it compiled the draft budget:

  1. Timothy is forecasting a revenue reduction of over $550,000 in our next fiscal year. 
  2. The current tuition rates are near the maximum sustainable levels for our membership. Increasing tuition rates threatens the sustainability of covenantal education within our community.
  3. The quality of education (curriculum, one grade/classroom, class sizes, special education, etc) should not to be sacrificed for the sake of financial benefit.

Given the factors above, we are faced with two choices:

  1. Balance the budget by increasing tuition from $854/month to $1154/month
  2. Maintain current tuition rates and approach the community at large for support

After extensive discussion and consideration, the Board intends to maintain current tuition rates, while communicating our pressing need to the community at large. To maintain tuition levels at $854/month, however, we face a budgetary deficit of $350,000. 

As an initial and immediate effort, a new Deficit Reduction Drive has been launched through the website. Please prayerfully consider how you can assist in alleviating the upcoming budgetary shortfall.  A ‘super donor’ has provided a $10,000 donation once the drive meets the first $25,000.  The Board encourages any community members able to become “super donors” to contact me at chair@timothyschool.org.

The Board also intends to engage corporate donors to fund some of the costs currently being shouldered by our members. Any leads on corporate donations can also be forwarded to me and I will arrange with the appropriate committee.

Board efforts can only go so far.  The Timothy School Society membership and our covenantal community must do whatever they can to utilize existing programs which directly impact our budget.  Simply using the Timothy Voucher Program to purchase everyday items, for example, could reduce our shortfall by $100,000.  Our current usage suggests only half of this will be raised, so there is much more that can be done.

Let us humbly ask our God to provide, as He does time and again.  Let us also humbly pray and encourage our covenantal community to band together at this time to provide assistance to those brothers and sisters in Christ seeking to provide their children with Christ-centred education at Timothy Christian School.

On behalf of the Board,

Wade Van Bostelen, Chair