OCS Principal's Message

On June 15, 2010, Opelousas Catholic School, under the leadership of Chancellor Monsignor Romero and Principal Perry Fontenot, borrowed $1,639,270.33 at an interest rate of 5.250% to complete much needed renovations across the campus, including air conditioning, Promethean boards, new floors/interior walls, and the construction of the chapel.

We are extremely proud and happy to report that this month, with a final payment of $507,536.72, Opelousas Catholic is debt free – and we did not use general fund, tuition, registration and fees, or foundation money for the payment.

The original loan was drawn up to be paid off in four installments by September 1, 2014. Due to economic downturns, rising inflation, enrollment fluctuations and other factors, the loan was refinanced multiple times over the following 13 years. By the time our current administration and chancellor began managing finances, the balance topped $600,000 and the school was making payments of $8,750 a month, with roughly $2,000 of that going to interest. Three years ago, the administration, with the blessing of the Board of Pastors, began to set aside money towards repayment of the loan. This money came from state-reimbursed mandated services we are required to perform, balances from the general fund after expenses for the school year were paid (a result of budget cuts across the board), money from the PPP payments at the start of the pandemic that we were able to save, and funding from the ERC that we received from the federal government this year. The ERC money was also used to fund raises and bonuses for faculty that enabled us to offer a competitive salary package.

We also continue to maintain our Opelousas Catholic Foundation of over $2 million – money we are not allowed to use for expenses, but that is there as a living trust for our school. When the foundation was created, interest rates were high and the school benefitted from that interest. Today, interest rates are at an all time low, so the foundation is not as profitable – but it is still there and untouched, as required by the trust and diocese.

We wish to thank our past chancellors Monsignor Romero, Monsignor DeRouen, Monsignor Harrington and current chancellor Father Pettit, as well as the dedicated Advisory Council members who helped steer our school toward this financial independence. While none of us know what the future holds, it is a blessing that we can say what many homeowners look forward to: “The mortgage is paid. We are debt-free. We are moving forward.”

Thank you all for your continued support of our one of a kind Catholic school!

Mrs. Heintz