Strong financial systems do not happen by accident. In small international schools, financial decisions are closely tied to every aspect of school life—from staffing and program design to facilities and long-term sustainability. Without a clear understanding of how financial systems work, even well-intentioned decisions can create unintended challenges over time.
This chapter focuses on practical approaches to financial planning, budgeting, and long-term sustainability. It brings together key concepts, essential financial tools, and real-world examples to help school leaders and boards understand how resources flow through the school and how financial decisions support the mission.
Whether your school is strengthening its budgeting process, improving financial oversight, or planning for long-term stability, this chapter provides a clear, accessible approach to understanding and managing school finances.
This chapter is part of the AISA Small Schools Resource Hub and is designed to support leadership teams and boards in building financially stable, mission-aligned, and sustainable schools.
Dr. Ari Betof - Author of Full Chapter: Finance. Dr. Betof is the co-founder and partner of Mission & Data. He is a nationally recognized expert in the area of nonprofit organizational stewardship and sustainability. Ari has served as an independent school trustee, head of school, administrator, and teacher. He began his career as a physics and mathematics teacher and coach. Ari understands multiple facets of independent school management, having held the administrative roles of Head of School, Chief Advancement Officer, Director of Enrollment Management, and Director of Strategic Planning. His experience includes working at day and boarding schools; schools as small as 50 students and as large as 1,500 students; single campus and multi-campus schools; single and multi-division schools; US-based schools and schools around the world; and religiously affiliated and nonsectarian schools.
What You’ll Find in This Chapter:
What You’ll Find in This Chapter:
This chapter includes guidance and practical tools related to:
Financial roles and responsibilities of boards and school leaders
Budgeting processes and financial planning
Understanding operating and non-operating budgets
Key financial documents and reports
Enrollment, tuition, and net tuition revenue
Major cost drivers, including personnel and facilities
Financial oversight, audits, and accountability
Long-range financial modeling and scenario planning
Financial sustainability and risk management
Examples, tools, and practical frameworks for school leaders
Read the Full Chapter
Read the Full Chapter
The full chapter is available as a downloadable PDF. You can read it online or download it to use with your leadership team, curriculum coordinators, or accreditation committees.
How to Use This Chapter:
How to Use This Chapter:
You do not need to read this chapter from beginning to end.
You may wish to:
Start with the 10 Key Questions to reflect on your current program
Go directly to the Tools & Templates section for practical resources
Use this chapter to guide leadership discussions or strategic planning
Return to specific sections as your school grows and develops
10 Key Questions
10 Key Questions
Use these questions to assess your current practices and identify areas for improvement.
Tools & Templates
Tools & Templates
Practical tools, templates, and real school examples that you can adapt for your own school.
Full Chapter
Full Chapter
Detailed guidance and background information for a deeper understanding of this topic.
Use of Materials
These resources are provided for AISA member schools for internal school use and adaptation. If you adapt or share these materials, please acknowledge the AISA Small Schools Resource Hub. Materials may not be sold or publicly redistributed without permission.
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