Key Performance Indicators in Strategic Financial Management


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Key Performance Indicators are a way to focus on the financial metrics that give you confidence the school is doing well. Following and attending to their progress gives you analytical capability so that you – whether the Principal, and/or the Business Manager and/or the Finance Committee – can determine whether the vector of the school’s financial position is positive or negative. Using them for analysis also allows you to ask the right questions consistently and persistently. The connection to strategic financial management indicates that paying attention to the day-to-day, while necessary, can obscure long-term trends that left untouched will prove difficult and even perilous to the school’s existence. Thus, key performance indicators (KPIs) offer both a tactical and strategic way to think about the school’s money. They are what every Board member must understand to carry out the Board’s fiduciary duty.


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