D3

=Category D: Resource Management and Development= toc

D3 - Resource Management

 * Are the school’s financial resources adequate to fulfill its mission and programs?
 * Are the school’s financial operations conducted with integrity and in accordance with acceptable accounting practices?

Suggested Areas to Analyze
> projections
 * a financial review by an outside auditor/reviewer
 * annual report statements
 * budgets and monthly financial reports
 * reflecting a balanced budget and the accurate cost for educating a student
 * minutes of budget/finance committee/school board meetings
 * all fiscal aspects of the school reflected in financial documentation including any funds on account, off budget items or programs, and categories of income
 * debt service (if any)
 * 3–5 year analysis and projections of income/expense ratio and tuition/salary
 * capital budget planning
 * implementation of audit or review management letter if applicable
 * standard checks and balances methods for cash management
 * 3–5 year analysis of the school’s monthly and annual cash flow
 * additional evidence

Guiding Questions The school resources are adequate to carry out its mission, programs, and to promote student achievement of ESLR's; however, reliance on tuition dollars may limit the future ability to maintain and/or expand programs. The school conducts its financial operations with integrity.

in accordance w/acceptable accounting practices || Audit - management letter communication to governance. Board & Financial periodic minutes. ||  ||   ||   || Brothers & Board agreed to help with the tuition asst.- evidence in minutes. ||  || Balance the budget ||   || management || Accounting policies ||  ||   ||   ||
 * Areas of Strength || Evidence ||  || Areas of Growth || Evidence ||
 * Financial operations are conducted with integrity and
 * Tuition assistance program that meets the needs of many families requiring financial help to pay tuition. || 2011 not a balanced budget due to the economy-
 * Standard checks and balances methods for cash
 * Budgets are responsive to department needs || In receiving the monthly financial reports and budgets department chairs are the checks and balances in the accounting system. ||  ||   ||   ||
 * Debt service (if any) || Do not have ||  ||   ||   ||

Virtual Evidence Link
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