Financial Management

Fiscal stewardship is central to the success of an independent school. A financially responsible school is attractive to parents and contributes significantly to their enrolment decision.

ISPG associates have assisted numerous independent schools to find better ways to manage their financial obligations, typically resulting in a stronger organization with clear financial goals and objectives and a strategy to achieve them.

Strategic Financial Planning

• Are your current decisions being directed in accordance with your strategic five-year financial plan?
• Have you deviated from the plan?
• Are there pieces missing from your plan that will impact negatively on the school's future?
• We can help you to create your individual strategic financial plan in accordance with the vision and values of your school or work with your existing plan to make it current, relevant and forward looking.

Business and other program assessments

• Does your fee structure reflect your vision and values?
• Are your programs cost effective?
• Are the business fundamentals underpinning your school sufficient to meet your future needs?
• We can evaluate you against other schools and other businesses that demonstrate strong fundamentals and provide options for enhancements to your school.

Budget development

• Is budget time pleasant or can it be tedious?
• Is balancing administration's needs with the Board's challenging?
• Identifying and managing the various revenue items that contribute to the income of a school and then consistently matching these with the required and discretionary expense items requires thoughtful consideration, planning and structure.
• Clearly outlining who does what and when increases efficiencies and reduces cost.
• Recognition and proper use of resources can enhance communications, build community and free up funds for education related programs.
• We can provide a structure that makes the best use of time and resources and provides timely accurate reporting to the Board and administration.

Accounting services

• Wondering if your accounting practices could be better?
• Unsure of whether to hire in or hire out for the service?
• We will evaluate your financial needs and provide recommendations and strategies to make the accounting function as efficient as the rest of your school operations.

Identify/develop school revenue generators

• Are you fairly charging for the services that you deliver?
• Could there be areas that can produce more funds for your school without bringing undue hardship to your families?
• Are there hidden profit centers that are being overlooked?
• ISPG can evaluate your funding platform and operational model to ensure that your school is offering an equitable and fair package to both parties.

Email info@ispginc.com for more information.