Annual Report 2025 - Other - Page 16
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Vienna International School
Treasurer’s Report
I am pleased to share the Vienna International School’s financial results for
the 2024–25 fiscal year, summarize the budget for the current and present
the approved budget for the next 2026–27 school year.
Financial Statements 2024–25
Sasha Damjanac
Board Treasurer
The 2024–25 fiscal year was challenging for VIS due to rising inflation.
The inflation rate, as measured by the Austrian Consumer Price Index,
averaged between 2.9% and 3.6% for the fiscal year. In addition, given that
84% of the total costs are attributable to staff, costs continue to be heavily
affected by adjustments which are based on the Teacher Staff Working
Agreement and other labor law policies, using higher CPI values from the
previous year.
However, through a combination of tight fiscal management, higher enrollment, expansion of the extracurricular programme, positive trends
on financial markets and other efficiencies, the School maintained a solid
financial performance, and absorbed unplanned costs such as Internal
Management Review, Technical Due Diligence, and upgrade of SAGE (HR
component of the ERP system). Some of the efficiencies identified in this
fiscal year will be reflected in the annual budgets of the coming fiscal years
and will be used to cover the payment of leasehold agreement obligations
(€1.8 M), avoiding the need to use reserve funds, notwithstanding the
ongoing negotiations with the Republic of Austria. Decrease in annual
cash flow is coupled with the decrease in liabilities coming from payment
of obligations from large infrastructure projects from 2023/24 fiscal year
upon completion thereof. The School continues to invest its liquid financial resources with positive net result, using the positive financial market
trends.
