Financial Survival Kit for Schools: Budgeting, Staffing, and Sustainable Growth – Event Recap

The Financial Survival Kit for Schools event brought together industry experts who shared valuable insights on budgeting practices, strategic staffing solutions, and facility financing strategies that support sustainable growth.

Key Speakers and Their Insights

The event featured four distinguished speakers, each bringing specialized expertise to address different aspects of school financial management:

Proven Budgeting Practices – Raj Thakkar

Raj Thakkar, Founder & CEO of Charter School Business Management, outlined 15 proven budgeting and forecasting practices for schools.

His presentation emphasized:

1. Creating clarity with a vision-driven budget that converts words into numbers
2. Separating operating budgets from capital budgets to avoid “hidden deficits”
3. Understanding and maximizing revenue streams
4. Setting appropriate contingency amounts
5. Focusing on enrollment and compensation as budget anchors
6. Using forecasting instead of continuously modifying working budgets

Strategic Staffing Solutions – Beth Jacobs

Beth Jacobs, Co-CEO of vChief, discussed how fractional leadership support can help schools navigate financial challenges while maintaining operational excellence.

She explained:

1. How fractional executive support offers expertise at a fraction of full-time costs
2. When schools should consider fractional support (during transitions, peak periods, or for specific projects)
3. The value fractional leaders bring through their experience with similar challenges

Beth noted that many charter schools are currently facing budget cliffs from ESSER fund expiration, teacher shortages, compliance pressures, and enrollment challenges. Fractional support can help schools maintain momentum while addressing these issues efficiently.

Maximizing Funding Streams – Stanton Jandrell

Stanton Jandrell, CEO of Fraxion, focused on spend management as a critical component of financial health.

His presentation revealed:

1. Unmanaged spending equals missed savings (potentially 10-20% of operational costs)
2. The direct link between effective spend management and stable cash flow
3. Tools for spend control, including procurement automation and budget tracking systems
4. Additional savings through strategies like punchout catalogs and group purchasing organizations (GPOs)

Jandrell emphasized that implementing strong spend management supports financial transparency, accountability, and sustainable growth, enabling schools to better serve students while building resilience against financial uncertainties.

Facility Refinancing as a Growth Strategy – Maddy Marlton

Maddy Marlton, VP of Real Estate Acquisitions at Grow Schools, explained how strategic facility refinancing can unlock capital for educational investments.

She covered:

1. Reasons to refinance: reducing interest rates, extending terms, converting short-term debt to long-term fixed-rate solutions
2. Timing considerations for refinancing, including school financial health and credit market trends
3. Various facility financing options like tax-exempt bonds, CDFI facility loans, and lease-to-own models
4. Grant and philanthropic funding sources for facilities, including charter school facility incentive grants

Marlton provided actionable steps for schools to take immediately, including reviewing current working capital positions, updating financial forecasts, and evaluating existing loan terms.

Takeaways and Next Steps

Participants left with a comprehensive understanding of how thoughtful financial management, strategic staffing, and facility planning can work together to create sustainable growth models for charter schools, especially as they navigate post-pandemic financial challenges.

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