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Anonymous Chief Financial Officer and Director of Operations

Monthly Financial Reporting for Independent School

Asked on May 21, 2015

Does anyone have information on best practices for monthly financial reporting for independent K-8 schools? I just started working for a school that only shows YTD summary variances to projected operating surpluses... Annual financial audits are done and reported but no monthly P&L, Balance Sheet or cash flow analyses are done... Thanks

Answers

Len Green Performance Improvement Consultant and ERP Strategist • May 21, 2015

Anon
A former industry CFO who worked for a public school district is in my network. If you'd like to talk to him, email me for an intro.
You may be experiencing a mindset that uses YTD figures simply to determine "what's left in the budget" (often done in NFP organizations that manage programs on annual budgets) or people who don't really understand finances.