Chapter One Description: TBD

Instructions:
Review the sample financial statement on the following page. It is the end of Quarter 3 (Q3), meaning 75% of the fiscal year has passed. (See page three for potential board responses.)

Case Study: Passive Financial Review

Scenario: 

At monthly board meetings, the financial report is included in the agenda, but it is quickly approved with little to no discussion. Only the board treasurer seems to understand the details, and most members rely on them to raise any concerns. What should the board do to improve its financial oversight practices? 

Potential Board Action:

Schedule a dedicated financial training session at an upcoming board meeting to build all members’ understanding of key documents. Encourage active engagement by including time for Q&A on financial statements during each meeting. Require the Finance Committee to provide a brief summary or analysis of financial trends prior to each board meeting to support discussion

Great job completing the final quiz for Module #2: Financial Oversight! Your Module 2 Certificate of Completion can be found [where?]. If you are just completing this module, thank you for your commitment to strong financial oversight. We hope you will explore additional modules in the future. If you are continuing to Module #3, we will explore the board’s role in hiring, supporting, and evaluating the school leader.