Hello, Academy community! We have a few brief items to share with you today…
I just came to the realization that much of our larger community may have missed this: Andy Watson has called a meeting for the entire faculty tomorrow afternoon, April 24th, at 4:00 in Simms Auditorium. We here at the Save Albuquerque Academy project will be sure to let you know what transpires.
Also, with regard to Gary Gordon’s slideshow and talk, I wanted to add a conclusion of sorts. On reflection, the presentation 1) largely consisted of incomplete or incorrect information and 2) did not address many of the questions that we and others have posed about the Academy’s asset management – or the most important concern for every one of us: where do we go from here? Relying on the future generosity of our donors is not a viable plan for running a school. There has to be more concrete strategic planning.
Finally, a last bit about finances: During the Monday night version of his presentation, an audience member asked Mr. Gordon whether the Academy had ever defaulted on a bond. Mr. Gordon said no. But it looks like High Desert Investment Corporation, which was, as we all know, wholly owned by the school, did.
Stay tuned. Thank you so much for following us.
You can make numbers tell any story you want to tell, but it doesn’t mean the story is complete. Without liabilities and losses from Mariposa, without principal plus interest payments included on the bond we don’t get an accurate picture. The percentage increase in tuition graph is particularly offensive. A 10% increase on tuition of 6,000 is only $600.00. However a 5% increase on 20,000 is 1,000. So when you present a graph of percentage of tuition increases over time you really skew the reality of what has happened. Thank you Admin for showing both the real debt service costs and the real increases of tuition over time.