State of the School Report 2012 Dear Summit School Family and Friends, The soul of Summit School is expressed in our mission: To provide a challenging curriculum in a caring environment to help students develop their full potential. The same combination of courage and vision that led founder Louise Futrell in 1933 to develop a program committed to the wonders, richness and complexity of each child leads our Summit community to embrace our 2011 – 2016 Strategic Plan: Developing Our Full Potential. This dynamic plan extends our reach into the future while remaining true to our roots as we focus on three areas: Exceptional Educators, Inspiring Learning and Effective Communication. The snapshots outlined in this report reflect a robust plan that is well underway--and that inspires our children to reach their full potential.
Revenue Sources : 2011-2012 Budget $11.3 million 4% 2% 6%
Other
4%
Auxiliary Programs 84%
Endowment Income Annual Giving Tuition & Fees
Expenses : 2011-2012 Budget $11.3 million 6% 8%
SAIS/SACS Re-accreditation As part of our re-accreditation by the Southern Association of Independent Schools (SAIS) and the Southern Association of Colleges and Schools (SACS), Summit hosted a visiting team of evaluators on October 16 – October 18. The team, comprised of independent school colleagues from throughout the region, offered nearly 25 commendations to our faculty, staff, students, administration, board and parents. Perhaps most telling were these three comments from the visiting team: “[Summit has] created an environment where children feel valued for their unique gifts and interests and genuinely enjoy the everyday school experience.” “We commend you for aiming to maintain both ‘roots and reach’ in the desire to honor past traditions while moving forward with innovative experiences.” “You are one of the great schools of the Southeast. You demonstrate courage, energy and hard work. Your school community has made great use of the accreditation process. You have the opportunity to build on your many strengths and take it to the next level.” SAIS-SACS accreditation is recognized worldwide as a symbol of quality in education. The visiting team unanimously recommended accreditation, which will be in force for five years.
Admin/Other 9%
Financial Aid 65%
12%
Instructional Plant & Operations Salaries & Benefits
Fiscal Health With the leadership and teamwork of a strong Finance Committee, a committed board, and disciplined fiscal management internally, Summit ended the past fiscal year with a balanced budget. In keeping with our strategic goals, our 2011-12 budget focuses on faculty salary and benefits, with modest salary and retirement increases; instructional materials and program, including adding a choral program and a mathematics program for gifted students; support for enrollment efforts; targeted use of financial aid; and increased professional development for faculty and staff, including the initiation of the Center for Excellence and Innovation in Teaching and Learning. Administrative costs remain low at Summit compared to our sister schools. Our tuition has increased a modest average of 3.1% over the past three years. Summit’s longterm financial strength looks robust. Our commitment to fiscal prudence has served us well and will help ensure a sustainable model and a promising future for the school.