Board News

Board Update

December 17, 2008

Dear Oakwood Family,

The Board of Trustees has met and continues to work on plans for the 2009-10 school year, as well on our long range Strategic Plan.  We are also focusing on ensuring that the policies and procedures we need to operate smoothly as a quality independent school are in place and are being used appropriately.  In keeping with our fiduciary duty, we are regularly reviewing our financial position and analyzing our options in this uncertain economy. Although our school is thriving and interest in admissions continues to be strong, we are aware that the current condition of the national and local economy may have an impact on us in the future.  Everyone at Oakwood can help reduce this impact by encouraging new families to join our school.

We are enjoying a wonderful year and have a bright future.  Thanks to all of you who have paid your tuition and other bills on time and have supported the Annual Fund.  As an independent school, Oakwood operates on the trust that each of us will pay our tuition and school bills when due and will contribute as generously as possible to the Annual Fund and other fundraising efforts.  We strive to keep our tuition as reasonable as possible, and the Annual Fund is the source of the funds we need to fill the gap between our tuition and the actual cost of educating each child and providing the programs and the excellent teachers our children enjoy.  Pursuant to our enrollment contracts and our general policies, however, Oakwood charges interest in those cases in which tuition and other bills are not paid on time in an effort to recoup the ultimate cost of late payments to the school.

One of the steps we have taken to survive the current economy is to refinance our capital debt and reevaluate our Capital Campaign based on our growth, enrollment and program needs.  Although there are many capital improvements we would like to add to our campus, at this point we have the basic facilities we need to offer the programs we have in place.  As a result, for the remainder of this school year, we will be relying on the payment of current pledges to cover our capital expenses and we will not be making any additional requests for capital contributions from our general Oakwood community.  We know you welcome this respite and we hope this temporary break in our capital fundraising efforts will encourage you to support the Annual Fund even more fully this school year.

Finally, add this date to your calendar.  We will hold an evening Town Hall Meeting on January 13, 2009 to discuss our plans for the 2009-10 school year.  Details will follow.

Enjoy the holidays!

Eileen Van Houten, on behalf of the Board of Trustees