Understanding School Finance for International School Board Members

Who it is for

Board members of nonprofit and proprietary international schools, including those without financial expertise. The focus is financial governance and oversight, not bookkeeping or day-to-day financial management.

Why it matters

Many of a Board's most consequential decisions are financial: fees, reserves, borrowing and major investment. Throughout the course you follow Andromeda International School, a 280-student international school, as it faces realistic financial choices.

Learning objectives

• Distinguish the Board's financial stewardship role from the operational responsibilities of school leadership.
• Interpret key financial statements and indicators to judge a school's financial health.
• Scrutinise budgets, forecasts and cash flow, and challenge the assumptions behind them.
• Explain how enrolment, fees, staffing and costs drive the economics of an international school.
• Evaluate proposals involving reserves, borrowing and capital investment.
• Assess financial risks and the controls and assurance the Board should expect.
• Reach and justify difficult financial decisions as part of a Board.

Course outline

1. 01Financial Stewardship: What Is the Board Responsible For?~15 min
2. 02Reading the Financial Health of a School~35 min
3. 03Budgets, Forecasts and Cash Flow~30 min
4. 04The Economics of an International School~25 min
5. 05Reserves, Borrowing and Capital Investment~25 min
6. 06Financial Risk, Controls and Board Assurance~20 min
7. 07The Boardroom: Making Difficult Financial Decisions~25 min

Estimated learning time: approximately 3 hours