VIS Annual Report 2023-2024 - Report - Page 10
Vienna International School
8
2024–25 school year. The budget considered the continuing effects of high
inflation which was reflected in a tuition
increase of 5.0% to cover the anticipated CPI-based increase in personnel costs
(6%). The 2024–25 budget is based on
projected revenues of €40.9 MM, including revenue of €37.4 MM from tuition and
other fees, €2.3 MM from subsidies and
grants and €1.5 MM from other school
revenues. Initially, the budget included
use of reserves to cover the payment of
annual leasehold agreement obligation,
however, resulting from the already mentioned efficiency measures and tight cost
controls, this would not be required.
As in previous years, by far the largest
school expenses are for personnel costs,
comprising 81% of the total budget. Academic expenses, including materials,
trip costs and exam fees, comprise 6%
of the total budget. Administrative costs,
including maintenance, energy, security, cleaning, IT, leasehold obligation and
other non-academic operating expenses
comprise 11% of the total budget, and capital fund allocations comprise 2% of the
total budget.
Sasha
Damjanac
VISA Treasurer
