Business Managers Network Meeting: November 15 th, 2013

Background  Working in charter schools for 17 years  Founder, Governing Board President, Administrator  Focus on finance  Executive Director of High Point Academy since 2006

High Point Academy: Finance Structure  Currently HPA outsources accounting and financial consulting to Boos Financial  In the past, HPA has had an employee who served as the Business Manager  Advantages and disadvantages of both  ED meets with Account Manager weekly  Office Manager and Bookkeeper work very closely – daily communication

Finance: Process  ED meets with Account Manager weekly  Office Manager and Bookkeeper work very closely – daily communication  Communication: in constant communication and ensuring that enough time is devoted to the business side

Finance: Key Players  Finance Committee: ED, GB Treasurer, Business/Account Manager once per month (other administrators attend when they are available)  Governing Board  The right balance: ensuring the board is informed and well aware without slipping into the day to day operational issues  Governing Board Training: ED and Boos Financial provide training

How does an ED ensure a productive relationship with the board?  Be extremely knowledgeable about school finance and the school’s budget  Plan for the future  Provide PD for the Business Manager, Board Treasurer, Governing Board and Staff  Open communication

challenges/successes  Challenges: Respecting the roles and responsibilities of the board and the head of school Salaries for the administrative team Performance Pay Using reserves  Successes: Open communication All parties are knowledgeable about the budget and finance. Healthy financial standing

For More Information…  Terry Croy-Lewis, Executive Director of High Point Academy   School: