Director of Finance

Richmond Montessori School is a premier Montessori community, inspiring academic excellence and nurturing human potential.

Job Title: Director of Finance

Supervisor’s

Title:

Dean of Operations

Supervises: Accounts Receivable and Payable (contracted)

Employee Classification: Exempt

General

Schedule:

Full-time, 12-month position

The Director of Finance reports to the Dean of Operations and serves as a strong partner on all strategic and tactical matters as they relate to financial objectives, planning, and programs aligned with the mission, strategic direction, and culture of the School including strategic financial planning, budgeting, accounting and the annual audit and 990. The Director of Finance serves as a key member of the senior leadership team, the Board of Directors’ Finance Committee, and supports all strategic initiatives related to these areas.

The DOF Provides support to the Head of School on special projects as needed, including compensation and benefits.

• Support enrollment in preparing contracts:
  Update rates in system prior to contracts, update financial aid in shared spreadsheet for use by enrollment, confirm staffing for remission in contracts.
• Prepare monthly/quarterly financial statements, and reconcile all financial accounts monthly
• Process semi-monthly payroll and 401k contributions
• Supervise the preparation of financial data to provide audit trails and the supporting material for conducting a professional audit, including Form 990 tax return
• Ensure that all reports are prepared and submitted to guarantee the school’s continued tax-exempt status; (2027)
• Partner for Head of School and Finance Committee on strategic projects, such as multi-year financial planning, enrollment projections, enrollment modeling, compensation, tuition, etc. Ability to use DASL and NAIS strategic financial tools required
• Oversee Financial Aid Process including communication of timing to families, yearly set up and review of applications. Recommend amounts to the Financial Aid Committee. Maintain a consistent process to ensure fairness, while keeping budget in mind. Work with Admissions to ensure contracts include correct financial aid
• Communicate with parents regarding financial matters, Financial Aid and including delinquent accounts collection
• Invest surplus funds in accordance with the policies established by the Finance Committee and the Board
• Record grants
• Oversee DASL input for school - ensure all areas including development and enrollment and business office input on schedule.

• Oversee the school’s accounting practices, ensuring accuracy and timeliness of recording and reporting, adherence to state and federal law, and generally accepted accounting principles (GAAP)
• Oversee and approve accounts payable and post in the general ledger.
• Record all receipts of cash & set up
• Oversee billing system and set up of invoices within the billing system (currently FACTS)
• Oversee accounts receivables and ensure timely collections
• Ensure adequate cash flow to meet the organization’s needs
• Rate Setting for Tuition. Develop a preliminary budget and recommend tuition and fee schedules to ensure sufficient revenue to balance the budget, including review of comps and HEPI
• Oversee Financial Aid Applications and, working closely with Admissions, make recommendations to the Financial Aid Committee
• Prepare a final annual operating budget for Board approval
• Monitor expenditures, provide reports to all budget managers at least quarterly and approve requisitions in accordance with the budget
• Track all restricted spending.

• Oversee risk management and the renewal of the School’s property, casualty, and liability programs
• Ensure OSHA compliance and documentation
• Develop and remain aware of trends in risk management policies to ensure the most effective coverage for the cost
• Maintain professional relationships with the School’s banks, attorneys, auditors, insurance carriers, contractors, and accrediting organizations
• Maintain Worker’s Compensation and unemployment insurance package in compliance with state regulations
• Maintain appropriate liability coverage for…