Burke’s

1
We continue to make great progress toward our longterm
financial and strategic goals while working to
enhance the day-to-day operations of our school.
Among the highlights of 2011, we achieved 99% parent
participation, 100% trustee participation and 94%
faculty and staff participation in the annual fund, raising
a record $951,000 to support the operating budget. In
addition, our Parents’ Association contributed $550,000
to student financial assistance and faculty and staff
development – and $50,000 to the endowment – from
the net proceeds of Family Festival 2010 and Dinner
Auction 2011. These strong fundraising results help
decrease pressure on escalating tuition and are a tangible
reflection of the support of our school community.
Our school is in excellent fiscal shape in no small
measure due to the leadership of Peter Engel, who served
as Treasurer of the Board from 2008 to 2011. Below is
a brief summary of our school’s financial well-being.
• We completed our fiscal year ended June 30, 2011 with
a balanced budget and with total operating revenue of
$12 million. Approximately 82% of our revenue came
from tuition, with 12% from fundraising, 3% from our
endowment draw and 3% from other income.
• Total expenses for the year were $12 million with
salaries and benefits representing 62% of our expenses
in fiscal 2011. Student financial assistance was 9%,
facilities operations, maintenance and depreciation
totaled 10%, instructional costs were 7% and general
and administrative expenses were 4%. Interest costs
associated with the bonds issued for our campus
renovation and building project (Second Century
Project) decreased to 6% in fiscal 2011 as we paid
down $5 million of these bonds and restructured the
remaining debt in November 2010.
• Reflecting the prudent oversight of our investment
committee, Burke’s endowment rebounded to $12.2
million as of June 30, 2011. The endowment is critical
not only to the long-term health of Burke’s but also as it
provides an annual draw that helps fund current operations.
Our endowment draw in fiscal 2011 was $360,000.
One of the highlights of the past year was the very successful
introduction of Burke’s first all-inclusive lunch
program for students, faculty and staff, a big step in our
student and community wellness initiative. In addition,
an important project of the Board of Trustees was its
work on revising and updating Burke’s mission statement
(see facing page) – kudos to trustee and alumna
Dana Goldberg and our lower school librarian Susan
Faust for leading that effort!
On behalf of the Board of Trustees, I extend my most
sincere thanks to all our parents, alumnae, faculty,
staff, grandparents and other friends of Burke’s for their
deep commitment and support of our school.
Arun Sharma
President, Board of Trustees 2010-2012
December 2011
CAIS Update
The accreditation process is important in the life
cycle of independent schools. Burke’s received
a full six-year accreditation in 2006 from the
California Association of Independent Schools
(CAIS). The school just completed an extensive
self-study as part of the regular 2012 accreditation
process. The resulting 176-page self-study
report examines all aspects of school life and
concludes with an action plan for the future.
The self-study involved administration, faculty,
and staff, along with the Board of Trustees and
Parents’ Association. Coordinated by Susan
Faust, the accreditation process will culminate
with a site-visit by a five-member committee,
assigned to Burke’s by CAIS. On campus from
January 29 through February 1, this visiting
committee is being led by Reveta Bowers, the
Head of the Center for Early Education in Los
Angeles and a highly respected educator who
has participated in 60 school accreditations. The
self-study report provides a rich and full picture
of the school at this moment in time, and we
look forward to the visiting team’s report, which
will hopefully lead to a renewed six-year accreditation
by the CAIS Board of Standards.
Lila Lohr
Interim Head of School
December 2011