In late 2005, the school faced mounting budget deficits. To help alleviate the deficit, the School's Board of Directors initiated cost-cutting, layoffs, and an extraordinary fund-raising effort. The school successfully balanced its budget for 2006–07 and seemed to have achieved that with which most Jewish Day Schools continually struggle—correcting financial course without severely damaging enrollment or the quality of its education. At the same time, the school's governance structure changed. Formerly managed by a 7-member school committee, the school was now governed by a new board and a new board chair, Timberland CEO Jeff Swartz. The school committee became much smaller (3 members) and supervised only one person, the school's Rosh Yeshiva.