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School Business
Services
Foundations offers a comprehensive set of business services that help
schools do everything from manage day-to-day financial operations
to preparing budgets and financial projections for the future. Here’s
a description of some of our most popular services.
General Accounting
We will maintain compliance with all federal, state and foundation
grant financial requirements consistent with Generally Accepted Accounting
Principles, along with the formal accounting for all school-based funds
such as petty cash and student activity funds. We reconcile your bank
accounts and maintain adequate cash to pay all bills while investing
idle funds. Of course, we will also pay your bills and collect your revenues
promptly and accurately.
Reporting
We provide these general accounting services employing a sophisticated
financial system customized to meet the needs of charter schools—not
an off-the-shelf system you have to adapt to. This way, when you
need specific reports to meet the needs of a particular funding source
or public official, you get them.
Revenue Maximization
We will ensure you’re getting all the funding you’re entitled
to, along with presenting new funding opportunities that may become available
from time to time.
Facility Planning and Design
We can assist your school with facility planning and design. This
includes selection of architectural and engineering service providers.
Budgeting
With the appropriate board members and school officials, we will
prepare your annual budget and present it to your Board in an easily
understandable presentation. Once a budget is adopted, we’ll help
you stick to it by monitoring your expenditures and providing monthly
reports. We can also review all requests for personnel or for purchases
of materials, supplies and services to ensure there are sufficient funds
in the budget.
Financial Liaison
We can facilitate your payroll and serve as liaison with your chosen
payroll company, facilitate your annual audit with an independent certified
auditor, and interact with liability and medical insurance brokers to
make each of these processes as easy for you as possible based on our
extensive background working in these areas.
Capital Planning
Lastly, we can advise and lead you through the financial process
when it comes time to borrow for short term or capital requirements.
And the Extras
When you hire Foundations, you’re getting a team of educators and
school business professionals who can bring a wide range of expertise and
advice to you at no extra cost, like advice on board governance, consultation
on financial policies, interpreting financial statements, and tracking
grant opportunities.
Get Exactly What You Need
(And Only What You Need)
One-size-fits-all doesn’t work for everyone, especially when it
comes to running institutions as varied as charter schools. That’s
why Foundations offers each of our client schools the opportunity to select
from a menu of services, depending on their individual needs.
Contact us and we’ll work with you to determine the right mix of
services that makes sense with your organization and existing capacity.
Once set up, our services will be provided by a team led by one of our
experienced school business administrators, backed up by other equally
experienced professionals and support staff.
There is flexibility in what we offer, but here are our basic packages
for charter schools:
Package One
General Accounting
- Accounts Payable
- Accounts Receivable
- Report Preparation
- Grant Accounting
- Facilitate Audit and Assist in Annual Financial Reports (AFR)
- Banking
- School-Based Accounts
Package Two
Financial Planning
- Financial Reporting
- Budget Preparation
- Budget Management
- Grant Budgets
- Long Range Financial Projections
- Purchasing
Package Three
Payroll & Benefits
- Facilitate Biweekly Payroll
- Facilitate Extracurricular Payroll
- Benefits Administration
Package Four
Comprehensive Service Packages
Includes everything in packages one, two and three, plus:
- Debt Management
- Representation at Board Meetings
- Insurance Facilitation
- Capital Budget Management
For more information please contact:
Peter Costa, Manager of Business
Services
pcosta@foundationsinc.org
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