Accounting, Finance and Tax

Sessions by Track

Accounting, Finance and Tax

For a personalized experience, attendees may elect to attend sessions in any track. Tracks do not include general sessions or deep dives.

  • Grading Independent Schools 2.0: How to Improve Your Standing

    Accounting, Finance and Tax
    Monday, 10:30 am - 11:45 am

    Financial officers may know how their school's financial health stacks up against its peers, but do they know how to improve it or what pitfalls to avoid? This session takes an in-depth look at what steps could be taken to positively impact financial metrics and avoids mistakes that will impact strategic decision making. The panel uses case studies to illuminate each category and bring further depth to prior conversations. (Note that a recording of "Grading Independent Schools 1.0" from the 2018 NBOA Annual Meeting is available to members through nboa.org. Prior knowledge of that session not required to attend this session.)

    Peter Christian, Director of Finance and Human Resources, Dean of Staff, Windward School
    Dirk ten Grotenhuis, Managing Director, Business Banking, First Republic Bank
    Lisa Turchan, Chief Financial Officer, The Buckley School

  • Lessons Learned from Tax Reform and Recent IRS Activities

    Accounting, Finance and Tax
    Monday, 10:30 am - 11:45 am

    Take a deep dive into tax reform and discuss the impacts of the Tax Cuts and Jobs Act to your school. Review recent IRS updates and hot topics. Discuss tax reform legislation, including changes to fringe benefits and compensation, unrelated business income tax, and individual, business and international provisions that may affect your organization. Explore recent IRS news and guidance, discuss priorities for the year ahead, and look at new initiatives affecting exempt organizations, IRS/Treasury guidance programs and Congressional initiatives.

    Patty Mayer, Director, Moss Adams LLP
    Colleen Ramires, Tax Senior Manager, Moss Adams LLP

  • Audits Gone Wrong: How to Avoid a Train Wreck

    Accounting, Finance and Tax
    Monday, 1:30 pm - 2:45 pm

    Consistent communication. Efficient procedures. Insight into the private school sector. These are qualities that competent, effective auditors and business officers can use to avoid an audit disaster in years to come. Discuss audit best practices, from the technical know-how to the less tangible need to build relationships, as well as how to work most effectively with your audit team and ensure that your school is shown in the best light, from internal controls to journal entry adjustments.

    Kathy Ferguson, Manager, Armanino LLP
    Jason Gilbert, Partner, Armanino LLP

  • Rogue Waves Sink the Unwary Vessel: Think Like a Fraudster!

    Accounting, Finance and Tax
    Monday, 1:30 pm - 2:45 pm

    As auditors, we are charged with identifying weaknesses in internal controls that pose risks for fraud, including theft or misstatement of financial results. As a result, we make recommendations to management to enhance controls to mitigate the opportunity for fraud. However, combating fraud schemes requires more than just an understanding of process and system vulnerabilities. To effectively battle against fraud, your school's skipper and senior crew must learn how to think like a fraudster. And a fraudster is thinking "Where are the weaknesses that would enable me to succeed undetected?"

    John Buckley, Partner, AAFCPAs
    Cynthia Fanikos, Chief Financial Officer, St. John's Preparatory School

  • Complex Financial Aid Compliance Issues

    Accounting, Finance and Tax
    Monday, 3:15 pm - 4:30 pm

    Review IRS requirements for schools offering need-based financial aid that exceeds tuition. Discuss IRS compliance requirements when offering need-based financial aid to foreign nationals. Is your state one of the 21 that has agreed in principle to allow, in accordance with the new tax law, $10,000 distributions from 529 plans for K-12 education? If so, many of these states must still pass legislation allowing tax-free treatment of these distributions.

    Mike Szydlowski, Director of Financial Aid, Woodberry Forest School

  • Controllers Special Interest Group

    Accounting, Finance and Tax
    Monday, 3:15 pm - 4:30 pm

    Independent schools share many common and some wildly different opportunities and challenges, just as controllers within those schools experience. This session is designed to provide an opportunity for individuals managing accounting, finance, tax and other controller/assistant CFO functions to join roundtable discussions with other professionals from similar types of schools. Groups examine differences and commonalities of your individual roles and school communities. These roundtable discussions allow for unscripted conversation, sharing experiences and learning from each other's successes and failures. Explore how other schools handle many of the same challenges you face.

    Jennifer Osland Hillen, CPA, CGMA, Vice President, Professional Development and Business Affairs, National Business Officers Association

  • Improve Your School's Operational Performance and Financial Position Using the NBOA Financial Dashboard

    Accounting, Finance and Tax
    Tuesday, 8:45 am - 10:00 am

    Relevant and reliable data is important to the work of business officers and the decisions you must make to help ensure your school's long-term financial sustainability. The NBOA Financial Dashboard for Independent Schools makes your role of data reporter that much simpler. Learn how to use the NBOA Financial Dashboard to assess, monitor and improve your school's operational performance and financial position, and use the 12 pre-loaded key financial indicators from BIIS to tell your school's story and help you plan your future.

    James Palmieri, Senior Vice President, National Business Officers Association

  • It's Here! Preparing for the New Financial Statement Presentation Standards

    Accounting, Finance and Tax
    Tuesday, 8:45 am - 10:00 am

    The new FASB financial reporting rules have been discussed for the past two years. However, the rubber now meets the road as schools must adopt these rules effective with the close of the current fiscal year. In this session, we delve into the areas of liquidity disclosure and net asset consolidation in order to provide participants with a road map that can be applied to their respective situations, and discuss upcoming FASB pronouncements (revenue recognition, contribution conditions, leases, etc.) to keep participants informed of the next challenges after adopting the financial reporting standard.

    Michele DiVito, Assurance Senior Director, RSM US LLP
    Jeri Fleming, Audit Senior Manager, RSM US LLP

  • Top 10 Tax Considerations for Independent Schools

    Accounting, Finance and Tax
    Tuesday, 8:45 am - 10:00 am

    Although your school may be tax-exempt, this does not mean tax is a non-issue. Tax implications for independent schools are very complex. This session provides an overview of the top 10 tax considerations impacting independent schools, along with a practical approach to addressing the issues.

    Karen Gries, Principal, CliftonLarsonAllen LLP

  • Bond Financing for Independent Schools

    Accounting, Finance and Tax
    Tuesday, 10:30 am - 11:45 am

    This session provides a basic overview of the key considerations relevant to the use of debt financing for nonprofit independent schools, focused particularly on tax-exempt instruments as the most widely used approach. The session progresses logically through a series of topics to help attendees secure a basic understanding of the factors that will impact the planning and implementation of a debt financing for their schools. Topics include: federal tax law, accounting rules, fundraising debt, affordability analysis, financing alternatives, debt policy and financing process.

    Jessica Matsumori, Senior Director, Sector Leader, S&P Global Ratings, Standard & Poor's Corporation
    Kevin Quinn, Principal, Wye River Group
    Elyse Waterhouse, Director of Finance and Operations, The Spence School
    Chris Wienk, Senior Vice President, Wye River Group

  • Aligning Your Endowment Strategy with Your School's Operations

    Accounting, Finance and Tax
    Wednesday, 8:45 am - 10:00 am

    When developing your financial aid budget for next year, will you think about how much exposure your school's endowment has to stocks or bonds? In today's market environment, the alignment between these types of operating decisions and the investment profile of the endowment are more important than ever. Learn how enterprise considerations and investment strategies connect, and what types of levers you can control in finding balance between the two. An experienced business officer walks through an example affecting operations and debt management.

    Richard Grzymajlo, Managing Principal and Consultant, FEG Investment Advisors

  • Cash from Payables: Where to Start, What to Expect

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    The payables system is taking a modern operational step forward that introduces a new revenue stream for schools. Explore the basics of how a revenue-producing payable program works and get a framework for estimating the time needed, resources required and revenue expectations.

    Henry Jordan, Executive Director, Sprinkle Caldwell

  • Form 990: What Does Your Filing Say About Your School?

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    If you've prepared or evaluated the Form 990, you know it's a complex filing used for reporting important information. We will focus on targeted areas of the Form 990 and schedules to inform the audience on issues and opportunities. Topics include functional expenses, grantmaking and how activities are reflected on Schedules F and I, related organization topics and their reporting on Schedule R, and corresponding components of the core form.

    Patty Mayer, Director, Moss Adams LLP
    Colleen Ramires, Tax Senior Manager, Moss Adams LLP

  • How to Have a Happy Chart of Accounts Conversion

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Creating a new chart of accounts is a big project that impacts all areas of a school's campus. Oregon Episcopal School took steps to make sure that a new chart of accounts would meet the needs of all budget managers on campus. Account numbers in the new chart are significantly shorter and easier to use but are designed to give budget managers information in a format that is most useful for them, a format that works when the business office needs to create financial statements. Learn how they did it.

    Kathy Langley, Controller, Business Officer, Oregon Episcopal School

  • Is Your School Hitting It Out of the Financial Ballpark?

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Financial data is everywhere. With so much data available, how are you prioritizing what matters most to the long-term financial stability of your school? Based on an analysis of 170 schools, learn what metrics showcase operating efficiencies, strategic initiatives and long-term stability. Learn about the minimum level of performance for each identified metric and how schools have become best-in-class in each category.

    Matt Gard, Senior Manager, Armanino LLP
    Josh Nevarez, Partner-in-Charge, Client Education, Armanino LLP

  • Preparing for a Stress-Free Audit

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Preparing for your annual audit does not have to be stressful and time consuming. Review a timeline of tasks and items to prepare in advance so that your audit can go smoothly and successfully. Tips include files to prepare in advance, spreadsheet samples for asset classifications and restriction releases as well as ongoing reconciliations and files to provide to your auditors.

    Diane Byrne, Assistant Director of Finance and Operations, Fay School

  • Staying Out of the Department of Labor Crosshairs

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Employee benefit plans are fraught with danger due to the enormous fiduciary responsibilities for all with oversight. Those with oversight vary from payroll personnel all the way to the board of trustees. This session covers some of the often-overlooked responsibilities of plan administrators in carrying out their fiduciary duties.

    David Schriver, Director, Ellin & Tucker

  • Tax-Exempt Financings: A Borrower's Legal Perspective

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Schools that are undertaking capital projects often pay for a portion of the projects' costs using borrowed funds. Schools that are 501(c)(3) tax-exempt organizations may be able to take advantage of lower interest rates in an exempt financing, as compared to rates charged for commercial loans, which can substantially reduce the cost of the borrowing. Get an overview of exempt financings from the school's perspective, from the initial planning and steps to be taken in the capital campaigns to negotiating commitment letters with banks, basic legal documents, and closing the financing.

    Jonathan Saben, Partner and Chair, Corporate and Real Estate Department, Folger Levin LLP

  • Ten Reasons Your Finance Function is Dysfunctional, and the Solutions

    Accounting, Finance and Tax
    Wednesday, 10:30 am - 11:45 am
    15-min Goldmine

    Discuss the top causes that lead to dysfunction in a finance department and related solutions to bring cohesion and efficiency back to the department.

    Kelsey Vatsaasm, Manager, CLA Minneapolis, CliftonLarsonAllen LLP