Page 3 - Report Card Vol. 9

From the Editor - Ken Cerini, CPA, CFP, FABFA

EDITOR
KEN CERINI, CPA, CFP, FABFA
CERINI & ASSOCIATES, LLP
MANAGING PARTNER

Contributors

WRITERS

KEN CERINI, CPA, CFP, FABFA
CERINI & ASSOCIATES, LLP
MANAGING PARTNER
JAMES LAINO, CPA
CERINI & ASSOCIATES, LLP
SUPERVISOR
SUSAN STEWART Fiscal Insights on Private Education in New York State Tuition Trends and Affordability
CERINI & ASSOCIATES, LLP
SENIOR ACCOUNTANT One of the most prominent fiscal issues facing private schools in
New York State is the ongoing rise in tuition and fees. According
KIMBERLY ROFFI, CPA s the landscape of education continues to evolve, the fiscal dynamics surrounding
CERINI & ASSOCIATES, LLP A private schools in New York State remain a subject of considerable discussion and to recent surveys, the average annual tuition at New York private
PARTNER analysis. It is with great enthusiasm that we present this edition of the Report Card, day schools can range from $15,000 to $55,000, with prestigious
ALBERT BORGHESE, CPA dedicated to exploring the multifaceted financial aspects of private education across independent schools in New York City often surpassing these
figures. Boarding schools, meanwhile, can reach $70,000 or more
CERINI & ASSOCIATES, LLP New York state.
PARTNER per year.
ASSOCIATE EDITOR Setting the Stage: Why Fiscal Perspectives Matter Such costs raise important questions about accessibility and

IWONA SORNAT, CPA socioeconomic diversity. Many families seek private school
CERINI & ASSOCIATES, LLP Private schools have long played a crucial role in New York’s educational ecosystem, offering education for its perceived academic rigor, extracurricular
MANAGER diverse curricula, unique pedagogical approaches, and specialized programs that often opportunities, and personalized attention, but the price point places
PAGE LAYOUT & DESIGN complement or supplement the public education system. Yet, beyond their academic and these schools out of reach for a significant portion of New York’s
population. In response, schools have expanded financial aid
cultural contributions, private schools are also economic entities, deeply intertwined with fiscal
KRISTINA LAINO-TORTORICE realities that shape not only their own operations but also the broader fabric of communities programs and scholarship offerings, yet funding remains limited
CERINI & ASSOCIATES, LLP and the state at large. and competition for available resources intense.
GRAPHIC DESIGNER
In an era of increasing scrutiny regarding educational spending, tuition rates, and fiscal Scholarships, endowments, and philanthropic contributions play
sustainability, it is more important than ever to examine how private schools manage resources, essential roles in promoting affordability, but they are subject to
respond to financial pressures, and adapt to changing market conditions. The fiscal perspective market fluctuations and donor cycles. For many schools, balancing
is vital—not only for school administrators and boards, but also for parents weighing enrollment tuition revenue with meaningful financial aid is a constant
decisions, policymakers considering regulatory frameworks, and taxpayers who may see challenge, requiring innovative fundraising and prudent fiscal
indirect effects on local and state budgets. management.
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