GettingTrustee Committees out of the Weeds and into Strategic - PowerPoint PPT Presentation

GettingTrustee Committees out of the Weeds and into Strategic Conversations Mo Copeland, Head of School Gretchen Reed, CFO Jon von Behren, Director of Facilities

Today’s workshop ● Some things we’ve done that work  Strategies and tactics at OES  What works for you? Discussion ● Some things we’ve done that don’t  Where things go off the rails  Tales from the trenches. Discussion

Things that Work ● Great Board / Great Staff

Board of Trustees 2018-19 The Rt. Rev. The Rev. Canon Elizabeth Gewecke Dan Bissell Nancy Bryant Michael Hanley Robert Bryant Board President Board Member Board Member Chairman of the Board Board Member Tabon Chang Dan Drinkward ‘95 Paul Ehrlich Mary Lou Green Pamela Hummelt Board Member Board Vice President Board Member Board Vice President Board Member The Very Rev. Adam Kobos ‘91 Brad Lawliss Malcolm McIver ‘82 Georgina Miltenberger Nathan LeRud Board Treasurer Board Secretary Board Member Board Member Board Member Alicia Morissette Sarah Raymond ‘91 Lucy Reynolds Christopher Riser Kevin Walkush Board Member Board Member Board Member Board Member Board Member Ben Chessar Mo Copeland Hilary O’Hollaren Jess Wetsel President, Alumni Council Head of School Advisor Board Member Advisor Parent Community Link Advisor Board of Trustees

Administrative Team Sage Carter Peter Kraft Asha Appel Mo Copeland Phillip Craig Executive Assistant to Assoc. Head of School Head of Upper School Head of School Head Chaplain Head of School Susan Gundle David Lowell Liz MacDonell Gretchen Reed Ann Sulzer Director of Enrollment Head of Lower School Dir. of Advancement Chief Financial Officer Head of Middle School Management Jon von Behren Director of Facilities

Things that Work ● Great Board / Great Staff ● Work plan 2018-19

Board Work Plan: 2018-19

Board Work Plan: 2018-19 (cont)

Board Work Plan: 2018-19 (cont)

Things that Work ● Great Board / Great Staff ● Work plan 2018-19 ● Charters

Charters: Finance Committee Board Committee Charter Finance Committee Purpose The purpose of the Finance Committee is to ensure the financial sustainability of Oregon Episcopal School (the School) and provide guidance to the Board of Trustees for all policy decisions pertaining to financial planning and oversight. It is responsible for recommending financial policies, goals, and budgets that support the mission, vision , and strategic goals of the School . The committee also reviews the School’s financial performance against its goals and proposes major transactions and programs to the Board.

Charters: Finance Committee (cont) Responsibilities The Finance Committee’s specific responsibilities include: • Review Finance Committee charter annually and file and/or recommend changes to the Board by 30 days prior to last Board meeting • Recommend finance related policies that maintain and improve the financial health and integrity of the organization, including fundraising • Review and recommend an annual operating budget for the School • Review and recommend tuition for forthcoming school year • Review and recommend capital budget, including any capital projects and related financing • Review the financial aspects of major unbudgeted proposed transactions, and making action recommendations to the Board • Monitor financial performance of the School as a whole against approved budgets, long- term trends and industry benchmarks • Require and monitor corrective actions to bring the organization in to compliance with its budget and other financial targets • Review and monitor the School’s administration and management of the 403(b) plan • Review and monitor the School’s cash investments

Charters: Finance Committee (cont) Operational Guidelines The Finance Committee is a standing committee of the Board of Trustees and will meet at least 4 times per year, or when necessary at the call of the committee chair. Meeting dates and times are specified no later than July 1st for the year to follow. The Finance Committee shall have no authority to bind the School, but shall be advisory to the Board.

Charters: Finance Committee (cont) Members The Finance Committee shall consist of at least 10 but not more than 15 members, with a mix of both trustee and non-trustees and administrators. There shall be at least 3 more non-administrators than administrators. Membership will include: • Committee Chair (appointed by the President) • Treasurer (appointed by the President, might be the same person as the Committee chair) • Chief Financial Officer (“CFO”)(or equivalent) • Head of School • Director of Advancement • Director of Facilities • Director of Admissions • Various Trustees • Other community members • And such other persons as may be designated by the President The CFO will provide staff support to the committee.

Charters: Finance Committee (cont) For purposes of voting on setting tuition and budget approval, staff will recuse themselves from the vote and not count towards a quorum. The Finance Committee should seek members with experience in finance, accounting, banking, business, investment management, risk management, real estate management/development, nonprofit management and/or governance. The Finance Committee will have two sub-committees: • Facilities Sub-committee • 403(b) Plan Sub-committee

Charters: Finance Committee (cont) Reports The Finance Committee will monitor, review and discuss the following reports prepared by the business office/Chief Financial Officer: • Detailed revenue & expenses report (statement of activities) • Assets and liabilities report (statement of financial position) • Report on status of capital spending on facilities(provided by Facilities Sub-committee) • Semi-annual report on cash investments • Investment reports (other than those managed by the Investment Committee) • Reserves report, including: Statement of Operating Reserves o Statement of Capital PPRRSM Reserves (”plant reserve”) o Allocation of “Surplus Funds” o • Debt report: evaluates and monitors long and short-term indebtedness • Report on the School’s 403(b) plan (employee retirement plan) provided by 403(b) Plan Sub-committee • Report from Advancement Department on current fundraising

Charters: Finance Committee (cont) Important documents and policies are available by clicking on the following links: • 403(b) Plan Restatement 04-19-16 • Draft Retirement Sub-Committee Charter 08-17 • OES Operating Reserve Policy 04-21-15 • OES Property Reserve Policy 04-21-15 • Cash Management Investment Policy dated June 6, 2009

Things that Work ● Great Board / Great Staff ● Work plan 2018-19, 2020 ● Charters ● Finance Committee - Indicators, Long Term financial plan

Financial Indicators

Benchmarked Tuition Rates

OES Enrollment & Benchmarked # of Flexible Tuition Students

10-Year Financial Results and Projection

Things that Work ● Great Board / Great Staff ● Work plan 2018-19 ● Charters ● Finance Committees, Indicators, Long Term financial plan ● Committee chairs

Things that Work ● Great Board / Great Staff ● Work plan 2018-19 ● Charters ● Finance Committees, Indicators, Long Term financial plan ● Committee chairs ● Outside experts – Data and Consultants

Group Work and Share Out ● What are the things that are working for you? ● What are some tactics and/or processes that have been successful?

Things that DON’T Work ● Great Board / Great Staff ● Work plan 2018-19 ● Charters ● Finance Committees, Indicators, Long Term financial plan ● Committee chairs ● Outside experts – Data and Consultants

CASH! A dead horse inherited

Group Work and Share Out ● Any really great anecdotes? ● What have you tried that didn’t work?

Stories from the Worm Hole

Contact us! ● Mo Copeland: copelandm@oes.edu ● Gretchen Reed: reedg@oes.edu ● Jon von Behren: vonbehrenj@oes.edu