Whether your school is growing student enrollment, expanding facilities, or implementing new educational programs, we can all agree that a school’s financial wellness is one of the most important aspects of running a successful charter organization. Without sound financial wellness, schools close, regardless of how successful they were at educating students. Get armed with the right knowledge, techniques, and materials to ensure financial success and learn how to avoid the pitfalls that may cause trouble. Top Five Financial Mistakes Charter Schools Make . . . And How to Avoid Them Ricardo Mireles, Executive Director, Academia Avance Branche Jones, Lobbyst, The Branche Jones Lobbying Firm Tricia Blum, Head of Business Consulting, Charter School Capital

1. Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
Top 5 Financial
Mistakes Charter
Schools Make . . .
And How to Avoid
Them
California Charter Schools
Conference 2019

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Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
WELCOME OUR PANELISTS
Tricia Blum
Head of Business Services,
Charter School Capital
Ricardo Mireles
Founder/Executive Director,
Academia Avance
Branché Jones
Principal/Founder
The Branché Jones Lobbying Firm

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Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
THE FIVE MISTAKES
Not
recognizing
that charter
schools are
businesses
Being
unprepared
for the
unexpected
Under
estimating the
importance of
finances
Losing sight
of your
mission
Lacking
strong
relationships
w/
stakeholders

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1. Not Recognizing Your School is
a Business

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SOLUTION: REMEMBER, YOUR SCHOOL
IS A BUSINESS
NOT RECOGNIZING
YOUR SCHOOL IS A
BUSINESS
1. You are a superintendent (not a
principal)
• Not just curriculum and teachers
• Its endless hard work
• You will be challenged in ways you
never thought possible
2. Know your customer
• All your stakeholders are customers:
oParents
oStudents
oCommunity
oAuthorizer
oStaff
3. You’re the boss—the buck stops with
you (literally)
• Everything impacts your financials
(especially mistakes)
• You are responsible for it all
• Find a mentor
MISTAKE1
ACTION STEPS

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2. Being unprepared for the
unexpected

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BEING
UNPREPARED
FOR THE
UNEXPECTED
1. Beware the lawsuit and bad actors
2. Keep a strong, updated wait list
• Sometimes your enrollment stream dries
up or decreases substantially
o Military bases/large employers, new
schools, bad PR
3. Facilities have tripped up more than one
great charter school
• Landlords aren’t always your friend:
Know and understand your lease and the
numbers behind them
• Start looking for larger or better facilities
now
4. Beware the tenacity of angry employees
and parents
• Create and maintain good public
perception
o Marketing/PR
MISTAKE2
ACTION STEPS
SOLUTION: PREPARE FOR THE UNEXPECTED
BY BEING FLEXIBLE AND ADAPTING QUICKLY!

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3. Underestimating the importance
of finances

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SOLUTION: UNDERSTAND THAT
SUCCESS REQUIRES MONEY &
PLANNING
UNDERESTIMATING
THE IMPORTANCE
OF FINANCES
1. Make a plan, work the plan:
• Budget forecast
o Don’t overbudget
o Don’t overspend
*When in doubt do without
• Cash flow
• Budget to actuals
• Contingency plan
2. Beware the claw-back
• Forecast enrollment realistically
o Nobody will correct you but they
will take your money
3. Hire a charter school financial expert
• Internally & externally
MISTAKE3
ACTION STEPS

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4. Losing sight of your mission

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SOLUTION: KEEP YOUR EYE ON
THE ULTIMATE PRIZE: YOUR MISSION
LOSING SIGHT OF
YOUR MISSION AND
VISION
1. Know your end game—it’s your
mission and vision
• Tie all financials and operations back
to your goal or consciously make new
goals (redo mission/vision)
2. FAB
• Be Ferocious About your Boundary
• Said differently, trust but verify
o Experts
3. Enrollment, enrollment, enrollment
4 MISTAKE ACTION STEPS

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5. Not maintaining strong
relationships

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NOT MAINTAINING
STRONG
RELATIONSHIPS
1. Make authorizers your advocates
• A “fine” relationship with your Authorizer suggests
no relationship with your Authorizer
o Calendar regular contact with staff,
ED/superintendent, Charter Board
o Toot your own horn
o Show up to Authorizer events
2. Your Board of Directors: know your governance
• You report to them — cultivate them
• Lean on them for good and bad—they should be
involved not just aware
• Organized and agenda-d monthly public
meetings
3. Experts: find them, pay them, keep the good ones
• Consultants, thought leaders, business partners
SOLUTION: HAVE FRIENDS IN
ALL THE RIGHT PLACES
4
4 MISTAKE5
ACTION STEPS

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Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
THE FIVE SOLUTIONS
Remember
your school is
a business
Prepare for
the
unexpected
Understand
that success
requires
money
Keep your
eye on your
mission
Have friends
in all the right
places

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Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
ADDITIONAL RESOURCES
Educate yourself with
training sessions on
growth, funding,
finance, board
governance, revenue
Find and connect with
great charter school
leaders, attend
conferences, and
build your network.
Surround yourself with
good people, great
leaders, financial and
charter experts.

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Copyright © 2018 Charter School Capital, Inc. All Rights Reserved.
Q & A: THANK YOU FOR ATTENDING
Find this presentation at: www.charterschoolcapital.org/conferences/
Tricia Blum
Head of Business Services,
Charter School Capital
tblum@charterschoolcapital.org
Ricardo Mireles
Founder/Executive Director,
Academia Avance
ricardo.mireles@academiaavance.com
Branché Jones
Principal/Founder
The Branché Jones Lobbying Firm
Branchejones@gmail.com