Finances | Montessori Foundation | MFA

Preparing the Budget

by Tim Seldin | Finances, Montessori Administrators, The International Montessori Council

Preparing the Budget Since most of a school’s income comes from tuition, the development of the next year’s budget begins with preparing the best and hopefully most accurate projection of next year’s enrollment at each age level. In this process, you should show...

Budgeting for your School in a Time of Rising Costs

by Marc Seldin | Finances, Re-enrollment, Recruitment & Admissions, School Leadership, School Resources, The International Montessori Council, Video, Webcasts / IMC

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Dear Cathie: How can I guide my children to help around the house?

by Cathie Perolman | Dear Cathie, Family Resources, Finances, MFA, Montessori Education, Montessori Family Life, Montessori Parenting, TC November 2021

DEAR CATHIE— I have always done everything for my children. I just thought that is what good parents did! I thought it showed my love. But now that they are growing up, and I am learning more about the Montessori Method from their school and my reading, I understand...

Money Talks: Talking About Financial Uncertainty With Your School-Age Children

by Nathan Dungan | Covid, Family Resources, Finances, MFA, Montessori Education, Montessori Family Life, Montessori Parenting, TC November 2021

With the coronavirus crisis causing unprecedented job losses, many families are experiencing uncertainty around money. Even families with relatively solid financial footing are feeling a need to rethink family finances. Our impulse as parents is to protect our...

Sample Letter Holding a Family to Their Contract

by The Montessori Foundation Staff | Administrative Team, Finances, Montessori Administrators, School Resources, The International Montessori Council

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Preparing the Budget

by The Montessori Foundation Staff | Finances, Montessori Administrators, The International Montessori Council

Since most of a school’s income comes from tuition, the development of the next year’s budget begins with preparing the best and hopefully most accurate projection of next year’s enrollment at each age level. In this process, you should show enrollment for the year before, the current year, and the year for which you are […]

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Basic Accounting Income Statements

by The Montessori Foundation Staff | Finances, Montessori Administrators, School Leadership, The International Montessori Council

An income statement otherwise known as a profit and loss statement is a summary of a company’s profit or loss during any one given period of time, such as a month, three months, or one year. The income statement records all revenues for a business during this given period, as well as the operating expenses […]

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An Example of General Procedures for Bookkeeping

by The Montessori Foundation Staff | Finances, Montessori Administrators, The International Montessori Council

A. General Objectives 1. To facilitate the conduct of business. 2. To help assure the security of funds. 3. To help maximize the use of funds. B. Procedural Elements 1. Record keeping and check signing functions should be done by different people to as great an extent as possible. a. Primary record keeper: School Secretary […]

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The Key Financial Reports That We All Need To Understand

by The Montessori Foundation Staff | Administrative Team, Finances, Montessori Administrators, The International Montessori Council

Many of us who end up in school administration or serving on a board would not consider financial planning and analysis to be our strongest skill area. Despite this, we are all responsible for keeping close tabs on our schools’ finances and for making decisions...

Sample Financial Aid Policy #1

by The Montessori Foundation Staff | Finances, Montessori Administrators, Recruitment & Admissions, School Resources, The International Montessori Council

I. Introduction A. Rationale Part of the mission of the _____ School is to demonstrate that intelligence is not rare in the universe, but rather can be cultivated if we begin to provide children with the right intellectual and emotional environments from an early age...

Sample Financial Aid Policy Shared With Parents

by The Montessori Foundation Staff | Administrative Team, Finances, Montessori Administrators

Financial aid is defined as a reduction in tuition granted to families who have demonstrated eligibility through an objective assessment of their financial position. The Financial Aid Committee The Board of Trustees has established a Financial Aid Committee consisting of three members. The members of the 2011 Financial Aid Committee are: • ____, Trustee and […]

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How to Use Attrition Charts to track your enrollment

by Tim Seldin | Administrative Team, Finances, Montessori Administrators, Re-enrollment, Recruitment & Admissions, School Leadership, The International Montessori Council

Independent schools normally depend on tuition to cover their operating expenses, which means that accurate up-to-date information is essential. Despite this fact, too often, administrators rely on their memory or sense of what feels right when considering whether the current enrollment trend is normal or something to celebrate or fret over. One thing is certain: […]