Financial Highlights: Fiscal Year 2016-2017

Susan Wallace, Vice President of FinanceSaint Mary’s College of California maintains its fiduciary responsibilities through the management of its endowment and operating funds.

There is positive news to report on the endowment funds. These funds, which are gifts from donors, are invested, with the earnings used to support specified operational needs. The total return on the endowment funds for the year ended June 30, 2017 was 13.5 percent, which compares favorably to the benchmark figure of 12.8 percent.

Total revenue for the year ended June 30 was $130 million. This was down slightly from 2016. The major factor in this decrease was lower tuition revenue, which, in turn, was due to lower enrollments in both incoming freshmen as well as graduate programs. Competition for undergraduate students spiked this past year, while unemployment rates in the Bay Area continued to encourage working over electing graduate education. Operating expenses for the year were lower than prior years, but our expenditures for instruction, academic support and student services were kept relatively flat, reflecting our continuing commitment to student learning. The College ended the year with a small operating surplus.

In response to the current environment, the College has adjusted its cost structure moving forward. Increased efforts in marketing, fundraising, and revenue diversification are planned. Saint Mary’s will continue to thrive in the coming years and to provide academic excellence through an integrative and collaborative learning environment for its students.

Susan Wallace
Vice President for Finance and Administration