AISB Committed to Transparency and Cost-Efficiency
In December 2008 the School Board hosted two Meet the Board events for parents who were interested in learning more about the School Board’s responsibilities and goals. At these meetings, we introduced the Board members, explained the function and responsibilities of the four Board Committees, and presented the school’s Strategic Plan. We sincerely thank the parents who attended for their positive comments and thoughtful questions. For those parents who could not attend, we would like to briefly review some of the issues raised:
Transparency in Board Communications
The Board welcomed a question about the details of the financing of the New Elementary School (NES) because it allowed the Board to address several issues pertaining to its legal and financial responsibilities, as well as to confirm its commitment to transparency and effective communication with all school stakeholders.
The Board can assure parents that the NES budget was conservatively set and the tender process was carefully monitored. The approved budget was kept confidential to protect the legitimacy of the tender process. We continue to rely on the considerable expertise of the members of our Finance and Building & Development Committees, as well as the School’s Business Office and Legal Counsel, as we manage the construction project.
The Board encourages any parents who are interested in the confidential details of Board work to consider running for Board election in April.
| The Board is committed to open and transparent communication as outlined in our Communications Policy. To read that policy, please visit the Board link at www.aisb.hu, where you can also learn more about the NES construction, the School’s finances, and the Strategic Plan. The Board will continue to keep parents informed through the Wednesday Weekly, the Board website, Board letters, and periodic events such as Meet the Board. In addition, parents are encouraged to visit the School Board booth at the upcoming International Festival and attend the Open Sessions of the monthly Board meetings. |
Cost Efficiency
Questions regarding the financing of the NES, the future sale of the Buda campus, and tuition fees also led to a discussion about the costs and benefits of an education at AISB and whether AISB is a cost-effective organization.
The School Board members are all parents who share your concern with the high cost of private education. As Trustees of this School, it is our individual and collective responsibility to be cost-conscious in order to offer the highest quality education at an affordable cost. Please note:
• AISB is a not-for-profit school and all revenue is applied to the cost of the operation. Faculty salaries account for the greatest percentage of operational costs.
• The Board sets fees annually and carefully reviews the School’s costs.
• AISB’s fees cannot be compared to other international schools in Budapest without taking into consideration the different financing mechanisms of the other schools.
• Sound financial management has enabled the School to provide an education that parents recognize as offering value for the money.
• A surplus fund, required by the dictates of our accrediting organizations, further safeguards the School against any possible effects of an economic downturn.
• The Buda campus is a valuable asset and the Board’s priority is to maximize the income from the property. The School’s finances are healthy and the sale of the Buda campus will move forward at a time that is most opportune for the School.
We are blessed with the resources to provide one of the finest educational facilities in central Europe, but only because we have a sustained record of sound financial management. Financial prudence will continue to lead us confidently into the future. The Board is proactively planning for all contingencies for the coming school year.
The School’s Mission
Finally, we were delighted to hear positive feedback regarding AISB’s Mission statement from parents who have seen it in practice in their children’s classrooms. The AISB Board, Administration and Faculty are all committed to bringing AISB’s Mission, Vision and Values (MVV) to life. We encourage all parents to become familiar with the MVV, discuss them with your children, and model the values in your day-to-day involvement in our community.
Upcoming Events:
• Board Planning Session: The School Board will meet on June 6th for an all-day Board Planning Session. Current and newly elected Board members will attend. The agenda includes the annual Board self-evaluation, the setting of goals for the 2008-09 school year, evaluation of the latest draft of the Strategic Plan, and Board training for new members.
Board Meetings:
All community members are welcome and encouraged to attend the Open Session of the Board’s last meeting of the school year in June. Meetings are held in the Nagykovácsi Campus Conference Room at 4:45 pm. Click here for Board Meeting Dates.