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ISBN: 978-1-7324208-2-3
This book provides board members with essential knowledge of key concepts and strategic considerations as well as the questions they should ask school administration. It also addresses how school leadership — the business officer, head of school and other administrators — can work effectively with the board on financial matters.
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Boards of trustees and their finance committees can better fulfill their stewardship and fiduciary responsibilities with an enhanced understanding of the financial model and related drivers of K-12 nonprofit independent schools. This book provides board members with essential knowledge of key concepts and strategic considerations as well as the questions they should ask school administration. It also addresses how school leadership — the business officer, head of school and other administrators — can work effectively with the board on financial matters, respond to trustee needs and communicate in a relevant, concise and actionable way with the goal of driving consequential discussions.
Chapters address schoolwide topics: operational drivers of school finances, financial health and performance, resource allocation, liquidity, budgets and net assets; as well as specific topics: tuition and financial aid, contributions and fundraising, auxiliary services, personnel costs, plant assets and operations, debt management, endowment funds and UPMIFA.
Phil Tahey, CPA, is an independent consultant to higher education institutions with more than 35 years of experience and service to the higher education community.
Ron Salluzzo is a partner in the higher education practice at Attain, LLC, an education consultancy. He is responsible for strategic financial services and enterprise risk services.