Laura Spivy
Chair, Finance Committee
I am honored to take on the role of finance committee chair for our board of trustees. I want to acknowledge my predecessor, Melinda Ellis Evers, who continues (as our current treasurer) to dedicate an incredible amount of time and energy to San Francisco Day School. As the previous chair, her strong leadership and diligent focus on financial sustainability pushed the school forward in the ever-present challenge of achieving long-term financial sustainability. We are lucky to have Melinda on our team.
The finance committee is made up of eight trustees: me, Katie Albright, Orlando Bravo, Sandy Dean, Melinda Ellis Evers, Carl Kawaja, Alicia Nogales, and Tommy Battat, and four administrative members: Katharine Daugherty (assistant business manager), Terry Gumz (director of development), Dr. David Jackson (head of school) and Carolyn Sasser (business manager). Jennifer Holderness (PA president elect) also participates. We are fortunate to have such a dedicated, highly skilled, and experienced group.
The finance committee is the primary financial oversight committee of the board. We work with the administrative team to oversee current-, past-, and future-year budgets, as well as the audit of prior-year financials. The committee places a strong emphasis on long-term financial planning. In every discussion that we have as a committee, the following five factors are recognized as the primary drivers (current and future) of our financial model:
- Tuition
- Annual Fundraising (including Annual Fund, Major Gifts and Events)
- Endowment Income
- Tuition Discounts
- Salaries and Benefits
The finance committee carefully considers all aspects of the School’s revenue and expenses for both current and future years and how they affect our community. The ability of the School to keep its community whole in 2008-2009—consistent with our objective to be a family school—will be a focus again this year, as we expect the economic environment to continue to be difficult for families in our community.
The committee also focuses on the strategic decisions of the School and how these decisions impact its long-term financial stability. The finance committee will work closely with the Strategic Plan 2010 Committee on the financial aspect that group’s planning. In addition, the committee communicates regularly with the development team to coordinate the long-term development strategy and its major impact on future financial stability.
In my first year as chair of the finance committee, I look forward to working with many of you to provide an incredible program for our children in a way that is financially sustainable for the long term. I encourage you to contact any member of the finance committee or any trustee if you have questions, comments, or concerns—especially as they relate to our School finances.
