Over 11 million K-12 students were enrolled in private schools in the US in 2018, and that number is only expected to grow. Private and charter schools allow students to experience elite academics, arts, and technical training that public schools cannot provide, which...
Private School
Guest Article: Navigating Success: The Crucial Role of Bus Tracking Software in Private Schools
In today’s fast-paced world, ensuring the safety and well-being of students is a top priority for private schools. Beyond providing a quality education, these institutions are responsible for safeguarding their students during their daily commute. This is where bus...
Private School Best Practices
It is getting increasingly more difficult to run a school. Hell, it’s getting increasingly more difficult to run any business. Too often the management team finds themselves in crisis mode, focusing on putting out fires instead of strategically thinking about how to...
Retooling Leadership in Private Schools
The workplace landscape is continually evolving, and with each new generation that enters the workforce, leadership styles and strategies must adapt to meet its unique needs and expectations. Private Schools, known for their commitment to academic excellence and...
Evaluating Your Accounting Software Needs
When was the last time your organization evaluated its accounting software… or maybe you are a start-up, keeping track of your organization’s finances on excel or even paper ledgers and now it is time to upgrade to a more sophisticated system. Many organizations tend...
The Importance of Financial Management in Private Schools
Private schools play a vital role in providing quality education to students as an alternative to the public school system. However, managing the finances of a private school can often be challenging. Private schools need to balance their budgets, ensure adequate...
The Importance of Internal Controls in Protecting Private Schools Against Fraud
Fraud can have devastating consequences for private schools, both financially and in terms of reputation. That’s why it’s important for schools to implement strong internal controls to prevent fraud from occurring in the first place. What are internal controls?...
Trends and Challenges in Private School Enrollment and Admissions
Private schools have long been a popular choice for parents seeking a more personalized and academically rigorous education for their children. Private schools offer tremendous benefits compared to public schools such as more intimate classroom settings, a more...
Ways to Promote Diversity, Equity, Inclusion, and Accessibility in Private Schools
Introduction Private schools have a responsibility to create an environment that is diverse, equitable, inclusive, and accessible for all students, faculty, staff, and community members. Promoting diversity, equity, inclusion, and accessibility (DEIA) in private...
K12 Data Protection Q&A Panel – Powerhouse Team
Join our Powerhouse Team for a Time-Critical Panel Discussion followed by a Question-and-Answer Session New York State Education Law §2-d took effect in 2020 and applies to school districts, charter schools, universal pre-K providers and BOCES. It also applies to...
Segregation of Duties
Segregation of duties is a commonly used and widely accepted internal control practice. It is the process of taking shared responsibilities of a key process and dispersing the critical functions of that process to more than one person or department. Implemented...
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Guest Article: Cybersecurity – School from home IT Concerns
Jan 26, 2021
With the COVID pandemic, everyone has been forced to operate more remotely and this is even more prevalent in schools where remote learning is a standard, as parents are afraid to send their children to physical buildings or governmental regulations have prohibited...
Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2014-09 – Revenue Recognition – Not-for-profit (“NFP”) entities (including private schools )
Jan 26, 2021
Nonprofit organizations are required to adopt the new revenue recognition standards during 2021. For schools, this means that if they haven’t already early adopted the new standard, they will need to adopt it for the 2020/2021 fiscal year. The new revenue recognition...
CARES ACT: Education
Jan 26, 2021
Less than a week before schools closed down for the holidays, Congress passed round two of the CARES Act providing an additional $900 billion of pandemic relief.