February 7, 2008

Dear Crossroads Parents,

On January 22nd, the Board of Trustees reviewed and approved Crossroads Academy's budget for the fiscal year ending June 30, 2009. As in previous years, the Board worked diligently with the administration to ensure that we preserve our program's excellence while carefully managing costs.

The 2008-2009 budget passed by the Board set tuition at $13,750 for grades 1-8 and $9,050 for kindergarten. This reflects an average tuition increase of 5.8 percent. Such increases are necessary to maintain the rich, faculty intensive program on our expanded campus.

As is typical with independent schools, operational costs of our program exceed our revenues received from tuition. Each year we are faced with the continued challenge of raising the operational shortfall of nearly $2,000 per student through grants, donations, and your generous contributions to our Annual Fund. Only through this balance of tuition and annual contributions, can we fulfill our duty as Trustees to keep Crossroads financially stable and positioned for long-term success.

Although every family pays tuition, we are also pleased to be able to support our community by offering financial aid to eligible families. Next year's budget includes some level of financial support to roughly 20 percent of Crossroads students. Your continued help in introducing Crossroads to new families is wonderfully important to strengthen the finances and spirit of the school as we move toward our full enrollment goal of 160 students.

On behalf of the Board, I thank you for your belief in the value of a Crossroads education. Your involvement as a room parent, set designer, or parking attendant as well as your investment in the financial well being of the school keep this community vibrant and protect our school's future. As a Board, we take great pleasure in doing our part to ensure that we have an unrivaled school for generations to come.

Sincerely,

Mark B. Richardson
President, Board of Trustees