Notably, I'm also spending my summer break with more than 40 heads of schools, division heads, admissions directors and others in our popular online course, "Essentials of School Business for Non-Business Administrators: Budget Meets Mission." Over three weeks, these participants will develop the financial chops they need to better understand their schools' specific financial issues, and to become exceptional partners with their CFOs. As one head of school with 13 years of experience put it, "It's important to keep my CFO happy." Bravo to her for taking this important step.
Thanks to NBOA's partnership with the Online School for Girls, Inc. (OSG), "Budget Meets Mission" has become an integral part of NBOA's online course portfolio. I've had the opportunity to teach it several times over the past few years, and this summer's cohort is the most appreciative and eager yet. Within days of the July 13 kick-off, I received almost 20 notes thanking me and my co-instructor, Brad Rathgeber, executive director of OSG and NBOA board member, for simply offering it. This was before the course really even began in earnest. How often does that happen?
As I have often said, the days of heads of schools shrugging their shoulders when financial conversations take place in the boardroom are long since over. Expectations for this position have changed dramatically. Heads aren't "simply" academic or faculty leaders; they must also understand their school's business model, its financial challenges and its road to long-term financial sustainability and growth.
With "Budget Meets Mission," Brad and I will spend the next two weeks immersed in conversations regarding net tuition, debt management, facilities depreciation and more within the current preK–12 independent school market—and without the presence of a single business officer. Instead, we'll be with a cohort of academic leaders who are stepping outside their comfort zones and demonstrating their commitment to lifelong learning and their schools. As a result, when their schools re-open for the 2015–16 academic year, they will be ready for all challenges, including the financial ones.
Another result: much smoother sailing in every participating school's business office.
Enjoy the rest of your summer!
