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Thursday, May 7, 2020

Armanino Launches Rapid Response Financial Framework Toolkit for Private Schools


Predictive Financial Modeling Helps Schools Navigate Uncharted Waters

SAN RAMON, Calif. (May 07, 2020) – Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., today announced the launch of a custom-built Private School Financial Framework Toolkit. The Toolkit was developed in response to consultations with the National Business Officers Association and other regional education associations that identified the need to quantify the impact that COVID-19 will have on the private school world.

With volatile world events and economic fallout expected to have a negative financial impact on private schools, it’s now more important than ever that schools have the ability to stress-test their previously approved budgets, forecast various financial models and project liquidity needs and availability. In response to that need, Armanino created the Toolkit so that every private school in the United States would have access to it as part of a 90-day free trial.

“This Toolkit leverages more than 30 years of private school business modeling expertise to quantify and forecast the impact of a variety of factors, from enrollment and financial aid to endowments and fundraising,” said Josh Nevarez, Armanino LLP partner-in-charge of Private Education. “In a time where significant belt-tightening is expected, it’s critical that private schools are fully aware of their current financial condition and the impact that various "what if" scenarios could have on their operations and most importantly, are prepared to take the actions needed to protect the sustainability of their school.”

The Private School Financial Framework Toolkit has been designed for use by any and all private schools regardless of size or geography. The Toolkit's streamlined design makes it easy for any school to input their budget, apply stress test variables and produce meaningful predictive data analytics and output reports that can be presented to a school's board of trustees, audit and/or finance committees or any other group charged with governance of the school.

In addition to the flexibility the Toolkit provides in stress-testing a school's upcoming budget scenarios, it comes at just the right time for schools that applied for and/or received PPP loan funding or may be considering applying for second round funding. The Toolkit allows schools to run various predictive models that will help in determining loan eligibility and retention of loan proceeds. It can aid them in determining if all or any portion of previously received PPP loan proceeds should be returned by the safe harbor date of May 14.

To learn more about the Armanino Private School Financial Framework Toolkit, including a 90-day free trial, please visit: https://learn.armaninollp.com/private-school-financial-framework/

About ArmaninoLLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. The firm serves over 200 private schools nationwide, including over 30 Top 100 schools as ranked by Niche.com. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.