Feature
-
Boards and Trustees
-
|
Budget
-
|
Leadership
The financial sustainability heat map, which will soon be available in BIIS, has helped schools in areas from board communication to strategic planning. Here are four school’s stories.
-
Budget
-
|
Leadership
-
|
Planning
A balanced budget is nice, but it is not enough.
You can sharpen finance committee discussion using sensitivity analysis and improve your presentation to the board of trustees with a waterfall chart.
Resist letting fears of escalating inflation hijack your tuition-setting and budget-setting conversations this school year.
-
Budget
-
|
Forms
-
|
Planning
Distributing a budget request form in the fall will build good will across the school and give you a comprehensive view of school needs and wants.
While the calculation requires collaboration, the results can help schools achieve their goals more efficiently.
-
Budget
-
|
Financing
-
|
Investments
To react quickly and appropriately to new market conditions, independent schools should understand inflation trends and prepare for potential outcomes.
-
Accounting
-
|
Financing
-
|
Procedures
These financial reporting strategies can help business officers and their finance teams focus on value-added initiatives and strategic work to to improve their school's governance and control.
To help combat adolescent stress and to give both students and staff a breather, schools are investing in school wellness centers that emphasize connectedness.
When presented with purpose, financial data can make all the difference in preparing your school for the road ahead.
Other Duties As Assigned
-
Accounting
-
|
Leadership
-
|
Membership
This business officer represents independent schools on the FASB Not-for-Profit Advisory Committee.
Strategies
-
Investments
-
|
Policy
-
|
Risk Management
Accepting cryptocurrency is relatively straightforward, but holding it requires careful consideration.
Holding roles as diverse as hockey coach and human resources director, this now director of financial reporting has deep connections across her school.
Member insights were crucial in developing NBOA’s new strategic framework – and we’ll need your feedback today and going forward to assess its progress.
Voices from the Field
-
Cash Management
-
|
Reports
The 2022 recipient of the Ken White Distinguished Business Officer Award, Nancy Greene, is known for mastering advanced strategies in finance and risk, and communicating their importance to colleagues and peers.
-
Diversity and Inclusion
-
|
Endowment
Miss Porter’s School has leveraged its large endowment and operating budget to challenge systemic racism. Miss Porter's is one of three schools to receive this year's Innovation Excellence Award.
CEO Notebook
-
Budget
-
|
Change Management
-
|
Leadership
As we move away from the forced changes of pandemic years and into intentional innovation, consider a few low- to no-cost efforts successfully undertaken by colleges and universities.
NBOA’s latest book provides key considerations to help professionals new to independent school business succeed in their leadership roles.
-
Cash Management
-
|
Financial Aid
Mid–2020, business officers predicted a bumpier outcome for FY21 than came to pass. Deficits and cash draws were smaller, while aid awards were higher.
Fringe benefits included in head-of-school packages may help attract strong candidates, but be aware of compliance issues.