Not-For-Profit School System
Company:Not-For-Profit School System
A not-for-profit school system was experiencing a decline in student enrollment.
Focus was engaged as Interim CFO to analyze the school’s financial situation, increase operational efficiency, and provide a course of action to right-size operations and bring the entity back to financial stability.
- Prepared a situation and cash flow analysis of the organization
- Proposed detailed actions to be taken in order to minimize the cash shortfall
- Increased revenue by building an endowment fund and charitable donations through vigorous and ongoing contribution drives
- Communicated an appeal on donors of committed pledges for early contributions to correct the cash flow deficit
- Reviewed and developed policies to reduce the dilution of revenue regarding tuition discounts, tuition swaps, and tuition barter for new enrollments
- Implemented a collection strategy for delinquent accounts receivable
- Reduced costs by decreasing non-core programs which did not carry weight with respect to revenue generation, and didn’t seriously impact the overall mission and charter of the school
- Focus’ recommendations provided the school with attainable budgets and the necessary measures to successfully restructure its financial situation.
- As a result of the analysis, the school implemented the recommendations made to right-size operations and was brought back to financial stability.