Parents at Radford College are pushing for a change of leadership after it was revealed the school was in deficit for the second year in a row and will again have a large fee increase.
A group of parents say the community has been misled on the school's financial situation and that fees were raised to fund "unnecessary vanity projects".
The parents have been calling on the Anglican Diocese of Canberra and Goulburn to intervene in the school's governance and replace the school board.
In a meeting on Monday night, the college told families it would raise fees again by 9-12 per cent next year after families were hit with fee increases of about 20 per cent in 2026.
Parents were questioning why the school went ahead with capital works, such as a new sports pavilion, floodlights, electronic scoreboard and a new boardroom, while families faced further fee hikes.
The college's audited accounts showed a deficit of more than $550,000 in 2025, following a deficit of $840,000 the previous year.
Parents feel they cannot speak freely on the matter because of potential negative consequences for their children.
"The financial result has very little correlation to the crisis we've been handed," a parent told The Canberra Times.
"The school's own records prove they did not need to raise fees by up to 23 per cent because of any financial situation.
"They chose to raise the fees to fund unnecessary vanity projects and then fabricated a series of financial "errors" to get away with it. They intentionally misled the school community."
The parent said further fee hikes would cripple many families and warned of a mass exodus at the end of this year.
"This school leadership is under the impression that Canberra is a bottomless well of wealth and they are waging the school's future on being able to replace the hard working families of Radford with the wealthy elite. It's a bet they will lose."
The college usually has an enrolment waitlist, but parents heard on Monday night there were currently dozens of vacancies at the private school.
The college told The Canberra Times it expected to be fully enrolled at the start of term 3.
"We are always sorry to see families leave and understand that any fee increase requires difficult conversations, careful financial planning and challenging decisions," board chair Vicki Williams said in a statement.
"We will never underestimate the effect those decisions have on our families and remain committed to working with those experiencing financial hardship."
The Anglican Investment Development Fund, which lends money to Radford, completed a review into the finance, governance and operations of the school. The outcomes of this review have not been made public.
The Anglican Diocese was contacted for comment.
There are currently four board vacancies which the college said would be filled "in due course".
In response to a series of questions from The Canberra Times, the college said the new boardroom was part of relocating the healthcare centre.
They said the centre was funded through the Radford College Foundation and that the new sports facilities were fully funded by a donation.
"The board has a responsibility not only to ensure the college's financial sustainability, but also to maintain safe, functional and high-quality facilities that support teaching, learning and student wellbeing," a spokesperson for the college said.
"Capital projects are considered through that lens and are funded through a range of sources, including designated grants, donations and approved financing arrangements where appropriate."
The college would not confirm the magnitude of next year's fee increases, but indicated it will be lower than this year's 20 per cent hike.
Ms Williams said the board recognised that people still had questions about decisions taken last year.
"The board remains committed to transparency, accountability and keeping our community informed about the College's financial position and future direction."
A small group of parents with financial expertise released analysis before Monday's meeting which argued the school's financial report showed it did not need to drastically raise fees.
The analysis shows the school took in more cash than it was spending and that the $550,000 deficit was due to depreciation and interest expenses.
The college said the increased depreciation costs were based on an independent valuation of the buildings.
The audited accounts show an increase in capital spending from $4.9 million in 2024 to $9 million in 2025.
The board previously said capital spending had not driven up fees because they were funded through donations. Last year's financial statement shows the school received $1 million in donations.
The school increased its loan balance from $23.4 million in 2024 to $30 million in 2025 but also increased its cash holdings by a similar amount.
In the same period revenue from fees increased by about $3 million and government grant funding rose by $700,000 to $9.2 million.
