Tools and guidance to help boards understand school finances, monitor financial performance, and ensure long-term financial sustainability.
The Board is responsible for the financial sustainability of the school. While the administration manages the day-to-day financial operations, the Board provides oversight by approving the budget, monitoring financial performance, and ensuring that appropriate financial controls and policies are in place. Financial oversight focuses on the big picture, long-term sustainability, and risk, rather than daily accounting.
Board financial reports should provide clear, high-level information that helps the Board understand the school’s financial position, performance against budget, and financial outlook. Reports should support decision-making and oversight, rather than focus on day-to-day accounting details.
Use these resources if your school needs to:
Improve board financial reports
Help board members understand financial information
Create clear and consistent financial reporting
Strengthen financial oversight practices
Finance Report Guidance & Template
Board Finance Report Real School Example
In addition to reviewing financial reports, the Board should regularly monitor key financial indicators that reflect the overall financial health of the school. Monitoring these indicators helps the Board identify risks early and make informed strategic decisions.
The Board should regularly monitor:
Enrollment compared to budget
Revenue and expenses compared to budget
Cash flow and cash reserves
Reserve levels
Capital and major maintenance spending
Staffing costs as a percentage of the budget
Financial forecast for the year
One of the Board’s most important responsibilities is ensuring the long-term financial sustainability of the school. This includes maintaining appropriate reserve levels, planning for major capital expenses, and ensuring that tuition and enrollment levels support the school’s long-term financial health.
Use these resources if your school needs to:
Plan for long-term financial sustainability
Understand reserve levels
Connect budget decisions to long-term planning
Improve financial planning at the board level
Tuition Setting Guidance/Framework
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.