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Empowering School Leaders: Mastering Finance for Mission Success

Join the Women's Leadership Seminar on May 3, 2014, to learn how school leaders can leverage finance as a key tool to achieve their mission. Explore budgeting, resource generation, and financial planning strategies to empower your school's success. Understand the critical role of CFOs, Heads, and finance committees, and delve into terms like endowment income and EBITDA for financial fluency. Don't miss this opportunity to enhance your financial leadership skills and drive your school towards excellence.

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Empowering School Leaders: Mastering Finance for Mission Success

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  1. Head’s NetworkSaturday, May 3, 2014Women’s Leadership Seminar Finance… what school leaders need to know

  2. Finance is a key tool in achieving mission It’s your most moral document

  3. Don’t give up your power

  4. The critical question is: • Does the school have or can the school generate the resources needed to meet the mission?

  5. Who is involved? • Budget managers • *CFO* • Head • Finance committee • Board

  6. What happens • Know goals from planning processes and multi-year financial plan • Gather input • Start budget building and prioritizing

  7. Almost nothing can be accomplished in one year!

  8. Time frame – • Fiscal year usually July 1- June 30 • Oct/Nov – input, define assumptions • Dec/Jan –preliminary budget approval for tuition setting • Jan/Feb – appointment renewals, contracting, budget setting • April/May or Aug/Sept – budget finalization

  9. What’s normal? • 80-85% tuition dependence • 2/3 (board school) or ¾ (day school) in personnel expenses • Debt ratios

  10. Knowledge/terms that make you sound like a pro • Endowment income • Financial aid = endowment income and annual fund? • Capex • Intergenerational equity • Depreciation/deferred maintenance • Extra credit: EBITDA

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