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Chief Financial Officer

Department: Leadership
Dept./Subject: Central Office
Role Type: Consultant Full Time
Grade: n/a
Reports To: CEO and Legacy Prep Board of Directors
School Year: 2021-22 School Year
Start Date: Immediate

Our Belief in the Importance of Teachers

The Chief Financial Officer will be a key partner to our organization, operating with incredible efficiency to maximize impact. The overarching job goal is to provide a sound financial management system that ensure the proper accountability for funds administered by Legacy Schools. Furthermore, the CFO is expected to administer the business affairs of the system in such a way as to provide the best possible educational services with the financial resources available and be responsible for a financial management system that reflects the financial condition of the Board on a timely and accurate basis.

Primary Roles and Responsibilities include but are not limited to:

  • Provide monthly financial reporting to the CEO and Board of Directors including balance sheet, income statement, cash flow statement, budget vs. actual comparison and any other required reports
  • Maintain a current cash flow projection for the fiscal year and provide projections to the CEO and Board of Directors
  • Maintain an accounting system in accordance with generally accepted accounting principles and governmental accounting standards
  • Plan, administer, and control financial activities of schools and departments by monitoring and providing oversight and assistance to subordinate managerial and administrative staff
  • Attend training sessions, conferences and workshops as assigned to keep abreast of current practices, programs and legal issues
  • Reconcile the primary operating accounts of record
  • Calculate and prepare check disbursements from properly approved accounts payable batches/invoices
  • Calculate, prepare, and transmit all periodic state and federal reporting as required by the Alabama State Department of Education (ASLDE), Alabama Public Charter School Commission, and other mandates in effect
  • Calculate and prepare payroll in accordance with the existing payroll schedule
  • Maintain compliance with federal and state payroll reporting and payroll tax remittance standards and prepare semi-monthly, monthly, quarterly, and annual payroll tax reports Submit applicable tax reports to the state of Alabama and IRS
  • Prepare reports as required by other agencies
  • Maintain an adequate system of internal controls including property and inventory accounting
  • Maintain a system of contracting and purchasing procedures
  • Analyze and reconcile various general ledger accounts and prepare various journal entries for adjusting accounts
  • Direct and oversee the annual budget preparation, including communication of budget information to the general public
  • Provide W2s to employees in accordance with the existing payroll schedule
  • Collect and maintain accurate and updated employee records: contracts, benefit elections, and payroll modifications
  • Calculate and prepare for timely remittance payroll deductions, trust fund withholdings, retirement deferrals, major medical and insurance deferrals, other withholdings associated with each payroll
  • Grant writing for federal and other grants as requested including required grant reporting, amendments and consultations throughout the grant term
  • Prepare and provide a monthly budget report reflecting the budgeted revenues and expenditures, the monthly revenue and expenditures and the remaining revenue and expenditures
  • Advise CEO and Board of Directors of the status of budget and provide recommendations for remaining funds within the established budget
  • Provide CEO with budget projections for the upcoming fiscal year in a timely manner in order to inform hiring decisions
  • Assist with budget activities and workshops
  • Interpret and enforce Alabama statutes, Department of Education rules, system policies and procedures as they relate to financial matters
  • Responsible for investment of funds upon CEO approval
  • Serve as network administrator for accounting software
  • Provide leadership and direction for assigned areas of responsibility
  • Maintain effective community relations and interpret finance matters to the community
  • Coordinate and enable the independent auditor to plan and conduct the annual audit
  • Prepare updates to the financial policies and  procedures manual  as needed
  • Maintain sufficient internal controls, including ongoing monitoring of financial and financial reporting activities as approved by the Board of Directors
  • Prepare year-end adjusting journal entries, accruals, management discussion and analysis, or other audit-related functions. Provide financial, budget, and other reports, as requested by the independent auditor
  • Prepare the Financial Performance Framework to be submitted to the Alabama Public Charter School Commission
  • Oversee all federal programs and funding for the School. Develop and complete the Funding Application and Comprehensive Improvement Planning within Monitor compliance with federal policies and federal laws. Develop the budgets for and maintain records/expenditures for all federal funds to include Title Programs, Competitive Grants, English Learners, and IDEA. Ensure the program and fiscal aspects of Title I meet the requirements of the Elementary and Secondary Education Act (ESEA). Coordinate the improvement of federal programs through in-service educational activities parent involvement, establishing channels of communication, and serving as a liaison with outside agencies
  • Ensure School is compliant with all Financial and Federal Compliance monitoring items as required by the ALSDE
  • Oversee all grant financial management to include management of all federal and local grant funds
  • Ensure compliance with all debt agreements
  • Prepare the annual budget and make amendments as appropriate
  • Perform and oversee bookkeeping services for the organization (expense reimbursements, invoices, etc.)

Additional Responsibilities

  • Collaborate with school personnel in grant writing and reporting for any state competitive grant
  • Assist CEO with various operational items, as financially related to include, various policies and procedures, human resources, forms, safety, food service, and transportation
  • Assist CEO with facility costs and financing when move to either a larger facility or a new facility
  • Assist CEO with preparing annual budget and personnel salaries as new employees are needed
  • Assist CNP Director with the financial operations of the child nutrition program and other special programs in accordance with federal, state, and local laws and with applicable rules and regulations
  • Perform other duties as may be assigned to the position by law, by the CEO and local Board of Directors, and by rules and regulations of the ALSDE and Alabama Public Charter School Commission
  • Assist CEO with posting the annual school system budget and monthly financial statements, in the form required by law on the school website and/or board meeting agendas

Employment Qualifications:

  • Bachelor’s degree from an accredited four-year educational institution (master’s degree highly preferred) with a concentration in accounting (required)
  • MBA or other graduate degree from an accredited institution (preferred)
  • Certified Public Accountant (preferred)
  • Fund accounting (required)
  • Previous experience serving as a CFO/CSFO for an Alabama public school or district (highly preferred)
  • Three years’ experience in business-related fields
  • Three years in governmental accounting (preferred)
  • Complete Alabama State Department of Education required CFO Certification
  • Meet annual requirements for continuing education to maintain Certification of CSFO Designation through AASBO
  • Experience with payroll accounting system
  • Must be bondable
  • Knowledge and experience in school finance;
  • Knowledge of accounting laws, policies, rules and regulations
  • Effective interpersonal skills, with an emphasis on communication and collaboration with a wide variety of people and groups as well as government agencies
  • Ability to supervise and evaluate personnel as assigned;
  • Ability to use technology to communicate, to manage data, and to produce/submit required reports, correspondence, and/or financial information;
  • Excellent strategic thinking and an entrepreneurial spirit that maximize available resources and yield exceptional, sustainable outcomes;
  • Demonstrated ability to analyze complex scenarios and data sets, clearly define the strategic questions they imply, and make tough decisions despite ambiguity or incomplete information;
  • Effective interpersonal and communication skills, including the ability to cultivate partnerships, build consensus, and coordinate activities across teams at multiple locations;
  • Strong comfort defining and upholding high expectations, including delivering and receiving constructive feedback;
  • Solid organization and time-management skills, including the ability to advance numerous competing priorities while solving problems independently;
  • Persistent resilience and comfort working in a complex, fast-paced environment that demands continuous learning and improvement;
  • Prioritize and manage multiple projects simultaneously and follow through on issues in a timely manner.
  • Self-aware: Aware of own strengths and areas of growth, work relentlessly to improve upon areas of growth, are open to feedback, willing to take personal responsibility, show balance in confidence vs. humility, and behave professionally
  • Strong belief in the Legacy Prep mission and educational model, including experience implementing – or a passionate desire to learn how to integrate elements of project based learning – personalization and social emotional learning into instruction
  • High moral character
  • Values the importance of working in a diverse, inclusive, and equitable
  • Positive and effective collaborator
  • Communication: Speak and write effectively.
  • Personal organization: Prioritize and multi-task effectively. Punctual, prepared, and detail oriented
  • Passionate about continuous improvement

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Legacy Prep admits students of any race, color, national and ethnic origin to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, national and ethnic origin in administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs.

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