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      Module #4 | Building Fiscally Savvy Board Members

      MODULE #4 - FINANCIAL PACKAGE REVIEW PRACTICE

      Welcome to the Building Fiscally Savvy Board Member series! In this module, we're diving into a sample financial package to help you understand key components of charter school finance. We'll cover everything from cash flow statements and budget vs. actual comparisons to balance sheets and compliance reports. You'll gain practical insights into analyzing financial documents, identifying trends, and asking the right questions to keep your school on a path to fiscal health. By the end of this module, you'll feel more empowered and confident in your ability to make informed financial decisions for your school. Let's dive in and strengthen your board leadership today!

      Video Walkthrough: 

       

      💡 Bonus Tip: Ask the Right Questions About Enrollment Trends
      When reviewing the financial package, pay special attention to enrollment trends. If the data shows a downward trend, it's crucial to ask what strategies the school is using to counteract this. Enrollment directly impacts revenue, so a proactive approach can prevent potential budget shortfalls.

      Quiz:

      Question 1 of 5

       

      1. What is the purpose of the executive summary in a financial package?

      A) To list all payments made B) To provide a high-level overview of the school's financial status C) To detail the school's expenses only D) To highlight compliance reports

       

      💡 Bonus Tip: Understand the Impact of Cash Flow Timing
      Cash flow can vary significantly throughout the year, especially in charter schools dependent on public funding. Look for periods where cash dips below expected levels and ask about contingency plans, such as short-term loans or deferred payments, to ensure operational stability.

       

      Slide Deck: