Director of Business Operations

Position: Responsible for the overall management of the school’s financial activities

General responsibilities include

• Supervision of the day-to-day accounting and financial activities of the school ensuring maintenance of appropriate policies and procedures (including maintenance of a standard operating procedures manual for the business office);
• Working with the Board, Finance Committee, the Faculty and Administration to develop and regularly review financial models, structures and policies that ensure long-term affordability and sustainability, optimize revenue and budget performance and remain aligned with the school’s mission and philosophy.

Skills required:

• Strong accounting skills
• Strong computer skills
• Ability to construct and maintain a budget
• Strong executive function skills
• Ability to maintain professionalism, including confidentiality
• Ability to work collaboratively with Board, its committees, faculty, staff and families
• Familiarity with HR procedures

Financial management:

• Complete billing (TADS), accounts receivable and accounts payable and sales tax reporting (accountant and Paylocity)
• Oversee collection, investment, disbursement, accounting of school funds
• Ensure that all obligations of the school are met: payroll, payroll taxes, debt service payments, insurance premiums and all payable bills, tax return preparation
• Maintain accurate, updated and locked personnel files
• Maintain accurate and updated salary schedules, payroll changes due to changes in insurance, tax withholding, retirement contributions, etc.
• Maintain oversight of monthly, quarterly and annual government payroll reporting as required, i.e., unemployment, W-2, 941s (Bookminders, Paylocity)
• Preparation and mailing of annual 1099s & 1096 (Bookminders does most of this)
• Ensure that bank and investment accounts are reconciled regularly and deliver cash deposits to bank
• Work with faculty and staff to develop policies and procedures to safeguard and account for operating and restricted cash collections and disbursements, reimbursements, etc.
• Ensure that bank and investment account documentation and corporate resolutions are properly maintained as instructed in writing by the board treasurer (Dir. of Bus. Operations collects board minutes for the audit)
• Facilitate annual audit
• Oversee financial aspects of the facilities management with the Facilities Manager

Tuition billing and collection:

• Work closely with parents and outsourced tuition billing resources to maintain timely and accurate tuition collection. Communicate payment policies to parents.
• Manage delinquent accounts following decisions of Finance Committee; communicate appropriately with delinquent accounts
• Make decisions regarding third-party collection/small claims activities for non-current parent accounts; (work with collection agency to maximize collection opportunities for aforementioned accounts as directed by the Head of School or Board)

Budget:

• Prepare and present budget scenarios and supporting materials to support the annual tuition setting process as needed by the Board and Finance Committee
• Prepare the annual operating budget including the incorporation of input from the Head of School, Faculty Chairs and Finance Committee. Oversee budget spending upon its approval by the Board.
• Regularly report budget spending to individual budget managers, the Head of School, Faculty, Finance Committee, and Board
• Make recommendations as necessary to Finance Committee and Board for forecast adjustments during the year

Financial reporting:

• Prepare and distribute summary and detailed income statement and balance sheet reports as well as ad hoc financial reporting on a monthly basis as requested by the Board and Finance Committee
• Develop agendas, meeting materials, and presentations for monthly Finance Committee and Board meetings as well as special Leadership, Faculty and Staff or WSP community meetings
• Regularly assess the accounting software and its ability to support the school’s needs

Development support:

• Work with the Head of School and grant writer to properly account for gifts and donations
• Manage the release of restricted funds as well as the communication of financial information for the purpose of gift solicitations
• Prepare and send out annual donor tax letters with grant writer/finance assistant’s support

Enrollment support:

• Work closely with the Admissions office to develop and implement fiscally responsible enrollment policies and procedures and to optimize preparation, delivery and communications regarding enrollment contracts and associated enrollment-related recordkeeping and billing (Ravenna Student Management)
• Prepare tuition contracts and associated documentation for parents, i.e., payment plan options, withdrawal policies, etc. (Ravenna Billing)
• Review and process incoming contracts
• Ensure that third party tuition billing agreements are established within school-approved parameters in the appropriate amount and within payment plan deadlines
• Ensure that all tuition contracts are invoiced correctly

Financial Aid:

• Articulate the school’s process and policies regarding FA to existing and prospective parents
• Review and analyze tuition assistance applications
• Manage the annual tuition assistance award process along with the Head of School, including the development and delivery of parent communications; work with third party assessment resources
• Assess and make recommendations as to whether the financial aid/tuition assistance budget is strategic and meets the needs of the WSP community

Financial/legal administration:

• Provide input and remain engaged in the establishment and articulation of personnel policies and practices in such matters as new employee hires, annual employment and contractor agreements, and compensation and benefits
• Regularly review personnel policies for faculty and staff in collaboration with the Leadership Team in order to ensure compliance with government standards and laws
• Administer health and other insurance policies; obtain annual plan reviews; administer policy enrollment, termination and updates and COBRA participation; communicate insurance information as necessary to plan members (insurance vendor)
• Administer school retirement plan including enrollment, contribution documentation and changes, bi-monthly submission of employee and/or school contribution remittance
• Oversee liability, property and student accident insurance needs and requirements; obtain annual plan renewals and assess adequacy of coverage
• Interact with financial institutions or legal counsel as necessary
• Complete financial portion of NAIS DASL survey and AWSNA reports; complete any required government reports from DOL, Census, etc. as needed

General Administration:

• Oversee Bookkeeping
• Committee responsibilities:
• Attend Board of Trustees meetings as requested (typically monthly)
• Tuition Assistance Committee
• Finance Committee
• Leadership Team as requested
• Attend Faculty meetings as requested
• Staff meetings
• Buildings, Grounds & Safety Committee
• Other ad hoc committees or task forces as needed