Building Board Member Fiscal Savvy: A Guide to Monthly Financial Statements
Many board members without a financial background aren't comfortable reviewing financial reports and lack the confidence to ask probing questions to school leadership and financial advisers. In this highly interactive session, the audience will take part in a mock financial presentation to identify trends, discrepancies, and warning signs. If you're unclear as to what you should really be looking for when financials are presented at your next monthly board meeting, it's time to learn. We'll start with an introduction to key finance terms and concepts to explain the basics of board fiduciary duties. Then we'll embark on a mock financial presentation and package, reviewing Attendance Data, Revenue, Expenses, Fund Balance, and Cash Balance.
At the conclusion, all attendees will take-away a sample financial package with notes on what to review, a Compliance Checklist to be reviewed monthly and annually, and 10 Questions to Ask at Every Meeting. This session provides a strong foundation for board members to start grasping their organization's financial performance, and how to think proactively about key decisions they must make.
Breakout Session
Strand 4 - Effective board management practices
Presented by
Andrew Crowe
Deputy Director
Scholarship Prep Charter School
Andrew Crowe is the Deputy Director at Scholarship Prep, a network of charter schools serving students in grades TK-8. Andrew has led the closing of the opportunity and achievement gaps as a teacher, instructional coach, site administrator, and district leader in Philadelphia, Hawai`i, and Southern California. Andrew holds a Bachelor’s degree from Notre Dame, a Master’s degree from the University of Pennsylvania, and was a Teach For America corps member. He currently serves as the Chair of the Native American Alumni Board of Notre Dame.
Jason Sitomer
Managing Director
Charter Impact
Jason Serves as the Managing Director for Charter Impact. He oversees a 10-member team that oversees all financial aspects for approximately 100 charter schools throughout California. Before joining Charter Impact, Jason was a Senior Director of Finance for a large network of charter schools in California. During his 4 ½ years there, he was responsible for the financial projections, cash management, banking relationships, and ad hoc analysis and reporting for 20 California charter schools. He is a strong advocate for school choice and opportunities outside of the traditional public schools currently available to students.
Spencer Styles
President
Charter Impact
Breakout Session
Strand 4 - Effective board management practices