Viability Requires More Than Money
“Economics” is commonly defined as the study of how people allocate scarce resources. Educators, school finance professionals, and Board members in Jewish Day Schools live that definition – not just daily, but year after year. Schools can neither raise tuition dramatically to cover rising costs; nor can they say “yes” to every new initiative. With a few computer keystrokes, one can balance a budget, but good people might lose their jobs, dreams of educational upgrades will be put on hold, and donors and parents will either be thrilled or upset (or both!). In addition to building endowments, it is no wonder that Jewish communities around the country have also been looking at state and federal funding for day schools to give them not just some breathing room, but opportunities to expand their programs and increase salaries and benefits for teachers. Depending on the size of the endowment, and the amount and duration of government funding, a school’s budget process will continue to re...