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Building Fiscally Savvy Board Members

Module #3 | Building Fiscally Savvy Board Members

Welcome to the Building Fiscally Savvy Board Member series! In this module, we're diving into the financial philosophies that guide charter school funding. You'll learn how to align your instructional model with available resources, prioritize expenses, and create a balanced budget that supports your school's vision. We'll explore practical strategies for handling unexpected challenges, maintaining open communication with stakeholders, and ensuring financial decisions reflect your mission.

By the end of this module, you'll be equipped to make confident decisions that keep your school's finances on track. Let's dive in and empower your board leadership today!

đź’ˇBonus Tip: Engage Stakeholders Early in the Budget Process


To build a balanced and effective budget, it's crucial to involve stakeholders—teachers, staff, board members, and parents—early in the process. Their input helps ensure that the financial plan aligns with the community's priorities and supports the school's mission. Collaboration from the outset can prevent misunderstandings and help all parties understand any necessary cuts or adjustments.

Question 1 of 5

 

1. What is one of the main goals when creating a charter school's budget?

A) To maximize spending on non-essential items B) To ensure a balanced budget, ideally with a surplus C) To ignore collaboration with stakeholders D) To always start with a deficit

đź’ˇ Bonus Tip: Plan for the Unexpected


Financial surprises are inevitable, but preparing for them can reduce stress on staff and programs. Budget with contingencies in mind by setting aside funds for unexpected expenses. This proactive approach helps the school avoid midyear cuts and keeps essential programs running smoothly, even when surprises arise.

Module #1 - Key Finance Funding update
Module #1 - Key Finance Funding
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Module #2 - Critical Budget Drivers
Module #2 - Critical Budget Drivers
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Copy of Module #4
Module #4 - Finance Package
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