Notable Numbers – May 2021

6% Increase in Technology Costs

Unsurprisingly, technology costs at INDEX schools soared last fiscal year, with the median technology cash expenditures per student increasing by 6%. (Data Visualizations>Technology)

Average Square Footage per Student Up 9% in 5 Years

INDEX school buildings are getting larger. INDEX data show that the average building space per student has increased from 276 sf to 300 sf per student over the last 5 years. This comes even as the median enrollment has increased 2% over that same time. (INDEX Annual Report>Plant)

Energy Cost per Square Foot Down 11% in 5 Years

Despite the increased building size, the average energy cost per square foot has decreased 11% over the last 5 years. Nice work. (INDEX Annual Report>Plant)

Tuition Dependence Up 2 Percentage Points Last Year

Tuition Dependence (the percentage of a school’s total revenue derived from tuition) was up 2 percentage points last fiscal year, likely stemming from the loss of auxiliary and other revenue due to the pandemic. A high Tuition Dependence Ratio can mean that even small fluctuations in enrollment can have a significant impact on the bottom line. So although it is not surprising that the median INDEX Tuition Dependence Ratio is up 2 percentage points, Tuition Dependence is something schools should keep their eye on, as they emerge from the pandemic and revenues normalize. (INDEX Data Visualizations>Financial Operations)