holy savior international school academy checklist for financial manual

Assess current financial software and tools for compatibility with school needs.

Select a comprehensive financial management system that meets operational requirements.

Train staff on the newly implemented financial software to ensure effective usage.

Establish user access levels to maintain security and accountability.

Create a backup system for all financial data to prevent loss.

Identify potential new sources of revenue, such as grants or community partnerships.

Develop a fundraising plan that includes events and donor engagement strategies.

Implement a marketing strategy to promote the school’s programs and attract new students.

Analyze the effectiveness of current tuition and fee structures and make adjustments as necessary.

Create a donor appreciation program to foster long-term relationships.

Review and categorize all recurring expenses to identify potential savings.

Implement a purchase order system to control spending and track budget adherence.

Negotiate with vendors for better pricing and terms on essential supplies and services.

Set up a monthly review process for departmental budgets to ensure compliance.

Monitor utility and operational costs to find areas for energy savings.

Develop a monthly financial reporting template that includes key performance indicators (KPIs).

Schedule regular financial review meetings with key stakeholders to discuss reports.

Analyze variances between actual and budgeted figures to identify trends and issues.

Prepare quarterly financial forecasts to aid in strategic planning and decision-making.

Utilize graphical representations of data for better understanding of financial health.

Conduct a compliance audit to ensure adherence to local and national financial regulations.

Develop a risk assessment matrix to identify potential financial risks and mitigation strategies.

Train staff on compliance requirements and the importance of ethical financial practices.

Maintain a written policy on conflict of interest and ensure all staff are aware of it.

Review insurance coverage to ensure protection against financial losses.

Create a financial FAQ document for parents and stakeholders to improve transparency.

Schedule regular updates to the school board regarding financial status and challenges.

Develop a newsletter section dedicated to financial literacy and updates for the community.

Facilitate open forums for parents and staff to discuss financial concerns and suggestions.

Share annual financial statements with stakeholders to promote transparency and trust.

Set up a feedback mechanism for staff and stakeholders to suggest financial process improvements.

Conduct annual reviews of financial policies and procedures to ensure they remain effective.

Stay updated on emerging financial trends and technologies that could benefit the academy.

Encourage cross-departmental collaborations to enhance financial efficiency and effectiveness.

Implement a recognition program for staff who contribute innovative financial solutions.