An Inside Job: Safeguarding Schools by Assessing and Mitigating Fraud Risk with Internal Controls and Cyber Security
The true impact of fraud can be disastrous and far-reaching, including financial loss, diminished productivity, legal problems and tarnished reputations. There are age-old schemes that will continue to threaten organizations and, now, the proliferation of technology, which often presents an enormous risk versus reward dilemma and potential for more complex threats. Enterprise risk management is not only tactical and procedural, but it also plays a strategic role in a school's delivery of its mission. Regardless of your school's size or resources, learn how to conduct a fraud risk assessment and develop your own fraud risk management program based on five key principles. Independent school leaders — including the board chair, head of school and all business office staff — have responsibility for risk mitigation and must become familiar with the types of fraud that could occur within each area of responsibility for fiscal operations. Industry experts share detective procedures for identifying fraud, as well as preventative and monitoring techniques. Hear real-life examples and practice implementation considerations. A successful fraud prevention program leads to stronger internal controls and better processes, enhancing the business office's overall efficiency and effectiveness.
Tax-Exempt? Not So Fast! Taxation Issues Affecting Independent Schools
As not-for-profit entities, schools are generally exempt from taxation. However, tax should always be on the minds of business officers who want to ensure their school's compliance involving taxes that fall outside of this federal exemption. Such areas include complex gift transactions, hidden compensation and benefits issues, sales tax, unrelated business income and more. Additionally, the IRS has spent increasingly more time examining nonprofit practices such as executive compensation, fundraising efforts and other activities reported on the 990, which must conform to not-for-profit standards for 501(c)(3) entities. Learn tips and tricks for best practices in taxation and 990 and 990-T reporting, and pitfalls to avoid in these areas.
Financial Reporting: A Top 5 and 10 List, 20 Years in the Making
FASB rolled out substantial changes in not-for-profit reporting to take effect next year, representing the first overhaul since the initial standards were released in 1993. Learn more about ASU 958, which dictates five significant categories, and anticipate the revisions necessary for your school's policies, procedures and financial reporting. Review the 10 most common accounting and reporting mistakes impacting schools today, along with practices for mitigating them so that your financial statements are best in class for invested readers including your board, lenders and donors.
Great to Greater: Business Intelligence for Independent Schools
Hear from experienced colleagues about the strategic conversations they are engaging in with school leadership, including the board and the data that informs the important questions to ask. Get a first look at NBOA's new data platform, Business Intelligence for Independence Schools (BIIS). Examine tools and reports to use as you develop next year's budget and highlight issues for the head of school and board. Benchmark your financial position against peer schools and gain insights into the foundational and aspirational markers to align with your financial model and strategic plan. Engage in lively discussion about the strategic conversations — financial, operational, academic, cultural and more — that will help your school become even better than it is today.
Managing and Motivating for Success: The Value of Performance Management for Independent Schools
Independent schools pride themselves on their high-quality and caring faculty and staff. However, many schools admit they are unhappy with their performance management process, citing that it isn't used effectively or they don't have one in place at all. This can lead to poor morale and potential legal risk. Discuss strategies and examine steps that school leaders can take to approach performance management as a positive and effective tool and the potential benefits to be gained for faculty and staff. Learn strategies for having difficult conversations and issues to consider during the separation process.
Is the Grass Really Greener? The Evolving Landscape of Employment and Enrollment Contracts
A well-drafted contract can help schools create clear expectations and mitigate against potential risks. Hear from two independent school lawyers who will share tips and practical advice for independent schools to get the most out of their employment and enrollment contracts. Learn strategies and considerations for schools thinking about moving away from annual contracts to “evergreen” or “perpetual” agreements.
Human Resources Role in Preventing Abuse
Preventing abuse within schools requires strong policies, a comprehensive applicant screening process and clear reporting procedures. School human resources professionals and business officers play a vital role to ensure these mechanisms are in place and are effective. Learn specific policies you can implement to protect students and employees and to respond to incidents or allegations of abuse. Examine detailed screening and selection techniques that can be used to eliminate inappropriate applicants who may have a higher chance of crossing boundaries or abusing students.
Let's Discuss: Transgender Employees, Disability and Protected Leave, Wage and Hour Update and More
Collaborate and learn from guided case studies on topics that can cause sleepless nights for even seasoned human resources professionals and business officers. Ask questions and discuss shared experiences and lessons learned with fellow attendees.