Managing Finance in International Schools: Striking the Balance

An engaging discussion on achieving a balance between financial responsibility and supporting the academic mission of a school. This collaborative workshop tackles the challenge of balancing financial responsibility with supporting the academic mission in international schools.

Finance directors in international schools face a unique balancing act: ensuring financial stability, meeting deadlines, and fostering collaboration with academic staff who may have different priorities and work styles.

The workshop explores strategies for achieving this balance, focusing on communication, process improvement, and building a collaborative culture. It is a valuable opportunity to learn from peers, share best practices, and develop effective strategies for managing finances in an international school environment.

Finance directors in international schools will gain valuable insights and practical strategies for the following:

• Improving communication and collaboration with academic staff.
• Streamlining financial processes and meeting deadlines.
• Building a strong financial culture that supports the school's educational goals.

LEARNING OBJECTIVES

• Discuss the importance of compliance, deadlines, and staff behavior in financial management.
• Learn communication strategies for effectively explaining procedures and deadlines to non-finance staff.
• Explore methods for streamlining processes and leveraging technology for improved efficiency.
• iscover approaches for fostering collaboration between finance and academic teams, including joint problem-solving and open communication.
• Participate in group discussions to share experiences and develop solutions for balancing financial responsibility with academic needs.
• Define success for the finance department in an international school setting.
• While executing routine financial tasks, Finance Directors must also effectively manage requests from Board committees, the Board Treasurer, and other stakeholders related to budget management, audits, and strategic planning. This requires a delicate balance of priorities and the ability to efficiently juggle multiple responsibilities.

Business Managers Roundtable: Fostering Financial and Operational Excellence Among Our Schools & Enhancing Business Intelligence

Learn and share together with NESA Business Managers to enhance successful practices in international schools. Roundtable hot topics will include content that enables Business Managers and the Heads of the Business Office to explore best business practices to advance independent schools. Our objective is to strengthen every aspect and health of the school’s business function.

TOPICS FOR DISCUSSION & SHARING

• Budget process: zero-based vs amounts based on prior year spending pattern;
• ERP Accounting and MIS, HR/payroll software;
• Own Staff/Employees vs Outsourcing;
• Managing Portfolio/Funds;
• Effectively managing the transition of leadership and Board colleagues;
• Sustaining a competitive environment/alternative sources of revenue to keep fees at manageable level given the competition;
• Financial Scholarships;
• Possible income tax in Gulf countries;
• Managing Board asks of the Business Manager/CFO and the process.

Visit the FLC24 Resource Library to access any handouts and resources speakers have shared for their session(s). Please check back for late additions.