Financial planning is one of the essential ingredients in successful Catholic secondary schools. Along with effective budgeting, solid financial management, financial reporting, and an effective teaching/learning program and environment, financial planning is key to the long-term viability of Catholic secondary schools. However, with increased emphasis on the need for financial planning, some Catholic school administrators and board members have allowed financial planning to determine the future direction of the Catholic secondary school. This article argues that this is an inappropriate course of action. Rather, long-range financial planning is one element in the comprehensive Catholic-school planning model. Indeed, this model should be mission driven, and any financial plan should be based upon the school’s strategic model which has proven to be effective for Catholic secondary schools.
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Burke, R. J. (1999). Financial Planning for Catholic Secondary Schools: Essential but not Determinative. Journal of Catholic Education, 2 (4). http://dx.doi.org/10.15365/joce.0204122013