From the Board of Directors

On behalf of the Board of Directors, I write to update you on some of the work the Board has been engaged in during the first half of this year.

Finances

One of the main duties and responsibilities of the Board is the fiscal stability of the School. We are committed to maintaining a secure financial foundation and transparency for our community. We are pleased to note the following; 

  1. Audit 2018-19: Ernst and Young have carried out last year’s audit and have declared the school’s financial reports to be in good order.  A copy of the summary report can be found here. UNIS’s Annual Report 2018-2019 will provide the summary financial overview. The Annual Report will be shared in the TinTuc throughout Semester Two.
  2. Budget planning 2019 -20: Our projected budget for this year was based on an enrollment figure of 1135 students. Current admissions data shows enrollment figures tracking higher than that figure with no budget adjustment required.
  3. Budget 2020-21: The Board has approved the budget for next year’s annual action plan based on a steady enrollment of 1145. This is a cautious figure as we  budget conservatively to ensure long term stability for the school. UNIS Hanoi remains the number 1 choice of new families relocating to Hanoi.

Tuition Fees Increase of 4.5%, Capital Fees remain at $3,000 (K2-G12)

The Board bases its budget decision on the School’s Values, Mission and Vision to ensure that the School honours its commitment to you and your children. Key to that commitment is recruiting and retaining highly qualified and experienced teachers and further developing our facilities in support of teaching and learning. Thorough benchmarking analysis of local and regional international schools as well as wider economic scans are used to determine the budget figures each year. Following review, a draft budget with a proposed 4.5% tuition increase for 2020-2021 was presented at our community meeting in November with capital fees to remain at $3,000 for grades K 2 – 12. These budget figures were subsequently approved at the 12th November Board meeting.

During the first half of this year the Board has concentrated its work on the following goals:

  1. Development of next Strategic Plan by May 2020
  2. Financial Oversight
  3. Governance Training and Leadership
  4. Fundraising Leadership 

None of this work would be possible without the dedication of Board, Committee and Task Force volunteers. I would like to thank everyone for their hard work and support. Wishing everyone a wonderful holiday season, and a healthy and happy New Year!

Amie Pollack, PhD.
Board Chair, 2019-2020

Print Friendly, PDF & Email