Meeting with your financial board can be one of the most stressful points of the month, quarter, or year for you as a school leader. From the audits of school finances, to the projections that must be made for the following year, these meetings call to attention the financial present – and future – of your institution.
Financial reporting from schools has long been an area of ambiguity for Dioceses across the country. Schools face a set of unique challenges when financial reporting – projections for future tuition cost, programs for reduced tuition and fees for certain students, and costs associated with offerings in the schools have long resulted in balance sheets inundated with confusing – and sometimes inaccurate – information.
Our team at St Joseph Financial Services is able to help you and your leadership team prepare for these meetings, creating accurate, detailed financial reports and assisting in the future cost-setting needs of the school.
All of this information is then used to create and file financial reports used as a foundation for growth, instead of a roadblock to accurate cost and revenue predictions. As schools move past the COVID-19 pandemic, the new revenue challenges make financial reporting more important than ever – and our team is prepared to help the Church turn these challenges into new opportunities.
In addition, our team can help prepare school leaders for the questions expected from these Financial Boards. By predicting the questions that will arise in these meetings, leaders can confidently lead these discussions – and instill confidence from the Financial Board, fostering a spirit of trust and excitement from the community, the Church, and the appointed officers to oversee school operations.