Performance Monitoring/Monthly Dashboard Reporting
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Presenters: Susan Shepard, Ast Supt/Business Services, CCSD 62 PowerPoint PPT Presentation


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Performance Monitoring/Monthly Dashboard Reporting IASBO Annual Conference 2008 Budgeting and Financial Planning Professional Development Committee. Presenters: Susan Shepard, Ast Supt/Business Services, CCSD 62 Jon Hitcho, Ast Supt/Business, Addison SD 4 Moderator:

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Presenters: Susan Shepard, Ast Supt/Business Services, CCSD 62

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Presenters susan shepard ast supt business services ccsd 62

Performance Monitoring/Monthly Dashboard ReportingIASBO Annual Conference 2008Budgeting and Financial Planning Professional Development Committee

Presenters:

Susan Shepard, Ast Supt/Business Services, CCSD 62

Jon Hitcho, Ast Supt/Business, Addison SD 4

Moderator:

Michele Slav, Director/Business Services, HSD 203


Performance monitoring dashboard reporting

Performance Monitoring/Dashboard Reporting

  • Purpose:

    • To introduce and lead the way for the discussion/implementation of the concepts of Performance Monitoring and Benchmarking in public school finance to highlight the transparency and accountability of Business Managers and their respective Districts.

    • To use that data to help make sound financial decisions.


Purpose for a business manager and a school district

Purpose for a Business Manager and a School District

  • Accountability.

  • Transparency.

  • Communication.

    • Board of Education.

    • Community/Constituents.

    • Staff Members.

  • Create an Environment of Trust.

  • Tool for Decision Making.


Performance monitoring with benchmarking

Performance Monitoring with Benchmarking

  • Internal

    • Driven by values held inside by the organization.

  • External

    • Driven by values held by the organization comparing themselves to other entities (IE. How they “Stack Up”).


Internal performance monitoring

Internal Performance Monitoring

  • District Goals

    • Board of Education goals.

    • Driven by Board Policy and Procedures.

    • Strategic Planning.

    • District Mission.

    • District Vision.

    • Business Office Goals, Objectives and Principles.


Internal performance monitoring1

Internal Performance Monitoring

  • Treasurer’s Reports.

    • Balance Sheets.

    • Revenue/Expense Statements.

    • Statement of Changes in Financial Position.

    • Cash Flow Projections.

    • Expense Trending.


Internal performance monitoring2

Internal Performance Monitoring

  • Illinois Financial Profile Ranking

    • Five Major Areas of Financial Performance.

      • Fund Balance to Revenue Ratio.

      • Expenditure to Revenue Ratio.

      • Days of Cash On-Hand.

      • Percent of Short-Term Borrowing Maximum Remaining

      • Percent of Long-Term Debt Margin Remaining.

    • Rates the District.

    • Can Give up to a Six (6) Year Comparison to Measure Financial Health Internally.

    • http://www.isbe.net/sfms/P/profile.htm


Internal performance monitoring3

Internal Performance Monitoring

  • Dashboard Reporting:

    • Incorporates Budgets and Annual Financial Reports (AFRs).

    • High Level Summary Information:

      • Helps Organizations Communicate Strategy.

      • Monitor and Adjust the Execution of their Strategy.

      • Deliver Insights to All.


Internal performance monitoring4

Internal Performance Monitoring

  • Financial Projections:

    • Should be at least five (5) Years of Data.

    • Should be based on key economic and policy decisions.

    • Should be updated with current data.

    • Can be tracked in a variety of ways.

    • Integral in understanding the long-range effects of Budget decisions.


External performance monitoring

External Performance Monitoring

  • Illinois Financial Profile

    • Five Major Areas of Financial Performance.

      • Fund Balance to Revenue Ratio.

      • Expenditure to Revenue Ratio.

      • Days of Cash On-Hand.

      • Percent of Short-Term Borrowing Maximum Remaining

      • Percent of Long-Term Debt Margin Remaining.

    • Rates the District.

    • Can Give up to a Six (6) Year Comparison to Measure Financial Health Externally v. Other Districts.

    • http://www.isbe.net/sfms/P/profile.htm


External performance monitoring1

External Performance Monitoring

  • Equalized Assessed Valuation (EAV) per Average Daily Attendance (ADA).

    • Can Show the Strength of the Community Financially.

  • Operating Expense Per Pupil

    • Determined by Perception

  • Tax Rates.

    • Compare by District Type (i.e. Unit, K-8, and HS)


External performance monitoring2

External Performance Monitoring

  • Available Debt Capacity

    • Shows the Potential for Borrowing.

  • Bond Rating.

    • Shows the District’s “Credit Rating.”

  • Step/Lanes of Salary Schedule

    • Negotiated Agreement


Incorporation of data

Incorporation of Data

  • Instructional

    • Illinois Report Card Data.

    • ISAT

    • PSAE

    • MAPS

    • AIMSWEB

    • Iowa Basics

    • Average Yearly Progress (AYP)

    • Extremely Important


Incorporation of data1

Incorporation of Data

  • Staffing.

    • Number of Full-Time Employees to Student Ratios

      • Teacher to Pupil

      • Administrator to Pupil

      • Administrator to Teacher

    • Number of Full-Time Employee History.

      • Academic

      • Demographic

      • Experience


Incorporation of data2

Incorporation of Data

  • Facility/Operations

    • Cost Per Square Foot

    • Facility Condition Index

      • Facility Renewal and Repair Costs/Replacement Cost of the Asset

        • Good (0 to 5%)

        • Fair (5 to 10%)

        • Poor (10 to 30%)

        • Critical (30% and Over)

    • Utility Costs


Practical examples to implement and start the process

Practical Examples to Implement and Start the Process

  • January

    • Mid-Year Monitoring of Revenues/Expenditures

  • February

    • Staff Development.

  • March

    • Staff Attendance


Practical examples to implement and start the process1

Practical Examples to Implement and Start the Process

  • April

    • Staffing

  • May

    • Health Insurance

  • June

    • Workers’ Compensation Insurance


Practical examples to implement and start the process2

Practical Examples to Implement and Start the Process

  • July

    • Utilities

  • August

    • Enrollment

  • September

    • Year-End Monitoring Revenues/Expenditures


Practical examples to implement and start the process3

Practical Examples to Implement and Start the Process

  • October

    • Financial Profile Rating

    • Web Brochure

  • November

    • ILEARN/Financial Comparison23

    • http://webprod1.isbe.net/ilearn/ASP/index.asp

  • December

    • Tax Levy


Internet

Internet

  • Websites

    • Powerful Communication Medium that is Interactive, Unstratified, and Multi-Channeled plus its easy!

      • http://www.d62.org/schoolboard/dashboardreports.html

      • http://www.lz95.org/business/dashboard_indicators.htm


Conclusion

Conclusion

  • Need to get this topic in the forefront of our colleagues to stay ahead of the curve.

  • Need to be accountable and transparent in our practices to our community.

  • Need to communicate realistic data (good or bad) to help make sound decision making.


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