Page 13 - 2021-2022 Annual Report

Expenses Income

Beginning Cash Balance $1,312,659 ͣͣͣ ͣͣͣ ͣͣͣ 1

Revenue
Tuition and Fees $2,540,584
Other Revenue $58,535
$2,599,119
Operating Expenses
Salary & Wages $1,421,592
Other HR Expenses $318,046
Other $164,244
Development & PR $26,243
Building Operating Expenses $267,756
Mortgage Principal Payments $246,597
$2,444,478

Net Operating Balance $1,467,300

Interest and Capital Expenses $86,773

Net Operating Balance Before Development $1,380,527

Development
Fundraising $217,767
Scholarship and Other Designated $207,654
Annual Fund $159,942
$585,363

Other
Capital Investment ($800,005)
Bond Repayment ($100,000)

Ending Cash Balance
$1,065,885 2

1 Beginning cash includes $227,421 of 2021/22 tuition paid in advance of the 2021/22 school year and is $53,194
higher than last year's ending cash due to an adjustment made during the audit.

2
Ending cash includes $279,961 of 2022/23 tuition paid in advance of the 2022/2023 school year.

As a Non-Chartered, Non-Tax Supported School, Ohio Revised Code 5104.02(B)(10) requires MHA to annually certify in a report
to parents of its pupils that the school is in compliance with state and local health, fire, and safety laws and to file a copy of
the report with the state verifying MHA meets Ohio Operating Standards. Mars Hill Academy is accredited by the Associa-
tion of Classical Christian Schools and has not pursued a charter with the state of Ohio due to truly held religious beliefs. All
parents have received written statements of our beliefs, which can also be found at www.marshill.edu. Mars Hill Academy
complies with the mandatory reporting and filing of known and suspected child abuse in accordance with Ohio law.

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