May 17 Update: 2020 AGM (Budget) and Next Steps for Demands to HK FIS
In view of most recent communications, budget explanatory notes provided, and given deficiencies shown by the school direction & Board, the 20/21 budget to be voted during AGM tomorrow should be rejected.
The school direction and Board have not yet seized and addressed the simple demands expressed by the community, listed below for reference.
- Acknowledgement of breach of services during Jan- May period, through a compensating gesture on tuition fees, FOR ALL. The argument that the school does not have the cash flow to do so is a dishonest one when looking at latest cash flow statements + cash position. It is a matter of choices, same choices that prefer to keep expenses flat for next year rather than adjust to new circumstances. Also, we are talking of a gesture and acknowledgement of failure to deliver core services to many families, not because of COVID but because of poor school organization and management. This is a required step if we are talking of a true "community mindset".
- Educational continuity: as you would have seen in latest Board video communication, the topic has not been anticipated and worked out for summer camps or equivalent, and message at the moment is that we will stick to the regular calendar...
- Long term transparency on financials and vision for the school: current budget for next 20/21 has a 6% decrease of revenues and keeps expenses (excluding depreciation) flat - that is not good financial management. Also, what is the long term plan to rightsize the school and adjust to the new HK sociopolitical context? Also, hearing latest video communication from Mr. Gabet & team, there is no school draft project to be shared until January next year... how is that even possible when the change of status if effective as of September 2020? There is a blatant issue with governance and transformation management here.
- Budget for 20/21: not acceptable and already discussed in the above comments. There would be questions around the decrease in revenues, worst case scenario, cash flow projections, need to hire additional staff vs. repurpose, opportunity to initiate rightsizing, etc. The explanatory note was at least good to provide more clarity, but why could it not be done as part of the original set of AGM documents instead of the incredibly light and bogus budget document that was originally sent?
A further update will be posted to provide more details on next steps / options available w.r.t the breach of services by the school and compensation on the tuition fee.