This position would begin for Fiscal Year 2024 (starting July 2023).

Coastal Empire Montessori Community Organization

Chief Financial Officer

In accordance with federal and state laws, the Chief Financial Officer (CFO) of CEMCO operates under the direction of the Board of Trustees and in collaboration with the Executive Director, school staff and CEMCO stakeholders, to execute the fiscal aspects of the charter mandate and the supporting school strategies.

The CFO’s work is accomplished by providing leadership to CEMCO regarding fiscal strategies and in the oversight and/or performance of all fiscal functions. To do so, the CFO is responsible for all accounts, contracts, budgets, and other matters related to CEMCO’s fiscal health and must manage these financial tools to appropriately diagnose, plan, implement, achieve, monitor, measure and report progress on strategic goals.

The CFO has full authority and responsibility to specify, plan, implement, and measure the effectiveness of all financial actions tied to the school’s long-term strategy. Under the leadership of the Executive Director, the CFO is charged with executing all Board policies and strategic goals and is expected to actively participate not only in implementing and reporting, but also in diagnosing and adjusting the strategic direction based on sound analysis of fiscal data. Under the leadership of the Executive Director and in cooperation with the Board of Trustees, the CFO leads the development, implementation, and maintenance of school-wide initiatives to continually improve the fiscal health of the school by adopting goals and strategies to ensure long-term fiscal stability.

Communications to and buy-in from all levels within the school, the parent community, community at large, and state organizations, associations, and agencies are required. The CFO’s duties must be conducted in compliance with the charter, policies and procedures of the local school district, as well as state and federal rules, regulations, and statutes.

The essential duties and responsibilities of the CFO include, but are not limited to, the following areas:

1. Generating resources,
2. Allocating resources,
3. Performance and/or direction of all fiscal functions,
4. Managing, analyzing and reporting financial information,
5. Safeguarding resources, and
6. Other tasks as required.

Roles and responsibilities related to generating resources for CEMCO

The CFO’s main role is to lead, support, and/or collaborate with the Executive Director, the CEMCO Board and school staff to pursue and secure all financial resources to which the school is, or could be, entitled. These resources include, but are not limited to, Savannah-Chatham County Public School System funds, state and federal funds, earnings from investment of surplus cash (guided by cash balance FDIC limits), fundraising, sponsorship, and grants. With regard to each source, the responsibilities are specified as follows:

1. Savannah-Chatham County Public School System funds

1. Build relationships with corresponding parties representing the school district and use knowledge and skills to maximize district-derived resources.
2. Ensure funds are provided on a timely basis so as to avoid cash flow problems.
3. Collaborate with the CEMCO Executive Director regarding student enrollment and head counts in order to maximize district-derived funds.

2. State and federal funds

1. Identify state and federal funds for which CEMCO may be eligible for.
2. Ensure CEMCO’s financial readiness to apply for and secure all available state and federal aids.
3. Establish procedures for monitoring the application and receipt of state and federal grant or program funding.

3. Investment funds

1. Advise the CEMCO Board on establishing an investment policy regarding the types of investments permitted and spending limits.
2. Present to the CEMCO Board debt procurement management analysis and alternate plans.
3. Continually monitor the effect of debt on CEMCO cash flow, with the goal of maintaining compliance and ensuring sound financial disclosure.
4. Present to the CEMCO Board a plan for implementing and monitoring annual minimal-risk surplus cash investments based on the endowment policy.

4. Grants

1. Assist in the preparation of grant proposals.
2. Prepare budgeting and financial information to support funding and grant applications.
3. Manage grants or funds received by CEMCO to ensure compliance with record-keeping and monitoring requirements of the various provisions. 

Roles and responsibilities related to allocating CEMCO resources

In conjunction with the Executive Director, the CFO will lead, execute, support, and collaborate with the CEMCO Board and executive team to allocate the school financial resources in a productive and efficient manner by taking the following sequential steps, driven by the school’s planning, evaluation and financial cycle:

1. Collaborate with the Executive Director and the Board to develop and clearly quantify CEMCO’s objectives and the programs and services needed to attain those objectives.
2. Prepare resource allocation scenarios based on school goals and objectives.
3. Allocate resources through the budgeting process to objectives, programs, and services.
4. In collaboration with the Executive Director, develop and present to the Board evaluations of the budget and objectives, programs, and services based on key performance indicators regarding efficiency of allocation and results.
5. Participate with and support the executive team and Board in strategic planning activities.
6. Assess financial needs that account properly for changes in enrollment trends, funding regulations across the county, state, and federal funding, and other relevant factors.
7. Develop and present for approval the financial long-range plan in support of the strategic plan, linking the school’s mission to specific objectives and their related indicators.
8. Create and manage the CEMCO multi-year and current-year budget by gathering, assembling, and formatting data and preparing analyses.
9. Actively track, monitor, and explain to the executive team and Board the budget performance, allocation of predicted revenue flows over competing demands, and key performance indicators.
10. Utilize financial decision analysis tools and techniques, specifying the need or objective, identifying alternative ways to meet the objective, predicting the costs and effects of the alternatives, and, recommend the most desirable financial alternative.
11. Assist the Board in financial decision-making by regularly sharing the results of financial analysis.
12. Maintain accurate data and systems for budget and key performance indicator tracking and reporting. 

Roles and responsibilities related to accounting for, recording, managing, and reporting accounting and financial transactions and information

The CFO takes the lead role in (1) developing and overseeing the implementation of practices and procedures regarding accounting for, recording, managing, monitoring, and reporting funds allocation and financial information in accordance with CEMCO’s educational philosophy and goals and (2) makes recommendations for policies regarding the above including, but not limited to, the following:

1. Directly perform financial activities and/or supervise the financial-related activities of any other individuals tasked with any accounting or financial duties for CEMCO.
2. Maintain CEMCO contractual obligations regarding engaging a certified public accountant (CPA) to conduct annual audits of CEMCO’s financial statements.
3. Share audit results and implications with the CEMCO Board and executive team in a timely fashion.
4. Lead the implementation of audit recommendations.
5. Monitor key financial variables to assess CEMCO’s financial condition and fiscal health.
6. Make use of financial ratios and other diagnostic tools to identify immediate or potential fiscal problems.
7. Report and solve fiscal issues as necessary.
8. Actively participate in the CEMCO Board Finance Committee to support the development of Board policies to safeguard CEMCO’s assets and provide accurate financial reporting.

Roles and responsibilities related to protecting CEMCO resources

The CFO is responsible for protecting CEMCO resources by performing the following tasks, including, but not limited to:

1. Collaborate with the Executive Director, CEMCO Board and Board Finance Committee to develop and maintain a comprehensive written manual of fiscal policies and procedures designed to protect CEMCO resources from risk of loss, obsolescence, waste, and misappropriation.
2. Update (and/or participate with responsible parties) as needed written fiscal policies and procedures regarding inventory, competitive bidding, and record-keeping systems for accounting, finance and procurement.
3. Lead the continued development, implementation, and tracking of comprehensive written internal control procedures regarding but not limited to: accounting and reporting, cash and credit card management, subsidiary ledgers, receipts, deposits and contributions, purchasing and expenditures, payroll procedures, and other similar matters.
4. Continue to put in practice internal control systems procedures to:
   1. establish an adequate control and preventive control environment,
   2. implement compensating controls,
   3. reconcile financial records, and
   4. restrict access to data and inventories.
5. Identify, disclose and track Related Party Transactions.
6. Capture Related Party Transactions in financial statements and inform auditor as appropriate.
7. Support the Board in identifying and recording disclosure statements.
8. Identify and implement cost reduction strategies that improve efficiency of resource allocation and use.
9. Maintain appropriate types and levels of insurance coverage to protect CEMCO resources and reduce/eliminate risks associated with school operations.

Practices related to CEMCO specific functional areas

The CFO’s role with regard to procurement and purchasing includes, but is not limited to:

1. Ensure that procurement activity is in conformance with established fiscal and internal control policies.

Other Requirements

• Required: a minimum of a Bachelor’s Degree in Accounting or Finance or equivalent;
• Preferred: CPA or MBA;
• Experience in performing “hands-on” accounting work, including accounts payable, accounts receivable, general ledger posting and reconciliation, and financial statement preparation;
• A minimum of five (5) years of experience in financial analysis, including the preparation of budgets and budget-to-actual analysis;
• Demonstrated ability to understand and act on trends and forecasts;
• Experience in managing financial processes, reading financial reports (and training others on how to do so) and presenting financial information;
• Demonstrated ability in applying the understanding of financial transactions and plans in order to properly develop corrective actions when necessary;
• Demonstrated ability to understand, evaluate and manage client contracts and quantify them financially;
• Demonstrated success in supervising and managing;
• Advanced knowledge of Microsoft Excel or equivalent and financial/accounting software (Blackbaud preferred);
• Preferred: experience with governmental accounting standards (GAGAS);
• Preferred: experience with Georgia Department of Education (GADoE) accounting requirements;
• Preferred: experience with not-for-profit operations and accounting;
• Preferred: knowledge of financial auditing (so as to coordinate annual audits);
• Preferred: knowledge of grants application processes and reporting;
• Makes decisions in a collaborative manner; uses patience, tact, and courtesy;
• Addresses issues professionally and offers solutions;
• Able to enforce and explain financial policies and procedures and to drive/guide expected behavior from others;
• Highly-skilled in communicating effectively, both orally and in writing; and
• Maintains employee confidence and protects school operations by keeping information confidential.

Work Schedule & Compensation

• Half-time (0.5-0.6) position, 20-24 hours per week;
• Salary commensurate with experience;
• Eligible for employee benefits, including health insurance, pension, paid time off, optional others;
• 219-day work calendar, from mid-July through mid-June annually; and
• Weekly schedule determined by agreement with Executive Director.