The School Fee Statement for 2017/18 has been issued this week and I would like to provide you with some brief additional background information. Tuition fees are increasing on average by 3%, with the slight difference in increases between grade levels being attributable to a gradual balancing and alignment of grade-level costs with fees. The Stability Reserve Fee as well as the School Growth Fund Fee will remain stable.
The increase in tuition fees is due to an increase in personnel costs, which are due to
- the 'step-up' effect resulting from the salary increments embedded in the Collective Bargaining Agreement (CBA),
- the recently announced statutory adjustment of the Cost-of-Living index (+2.5% as of 1 Jan 2017), and
- staff additions to further expand the breadth of ISL's language program (Spanish and Luxembourgish) as well as to strengthen the school's leadership team in order to:
a) achieve greater effectiveness and efficiency of administrative and support functions over the long-term and
b) facilitate the school's growth in terms of number of students as well as the quality and diversity of the educational program.
The Board and ISL's leadership team continue to monitor the financial situation of the school closely with an aim to ensure its long-term sustainability under consideration of all known risks and circumstances.
Please do not hesitate to contact or approach me with any questions you may have in relation to ISL's finances. Finally, I would like to thank you for your continued support and engagement and look forward to seeing you at the Parent Forums or latest at the AGM in June.