Live Case – Project
Develop a Comprehensive and Sustainable Financial Reporting Structure for an Education Foundation
A Collaboration Between
The Ashton-Franklin Center School District is looking to define and establish the foundation’s financial reporting structure as part of an overall process of revitalizing the 501c3 organization.
Researching best practices for school districts collecting, organization, documenting, and sharing financial reports.
Reviewing foundation by-laws, financial reports, and other key resources.
Developing a comprehensive, exhaustive accounting of all assets and accounts and how they are being used.
Create a schedule for monitoring, decision-making, and reporting activities to ensure best practice and compliance.
Curate, synthesize, and create financial reporting templates.
Devise a strategy, set of tactics and tools for sound financial data management and reporting.
A comprehensive and sustainable educational foundation financial reporting structure.
Project Topics
Corporate Social Responsibility
Data Management
Company Information
| Company | Ashton-Franklin Center CUSD #275 |
| HQ | Ashton, Illinois |
| Revenue | N/A |
| Employees | Unlisted |
| Stage | Small Business |
| Hiring Potential | N/A |
| Website | https://www.afcschools.net/ |
Company Overview
N/A
Experiential Learning Program Details
| School | Northern Illinois University (NIU) |
| Engagement Format | Live Case - Think "Hackathon" or Case Competition with a whole class of students! This learning format allows educators to deliver experiential learning to students at scale. Students are often split into groups to work on a live case (or a series of cases) from a real host company that directly relates to key learning objectives. |
| Course | Business in Action, Summer 2022 (Collum) – AFC School District |
| Level |
|
| Students Enrolled | 40 |
| Meeting Day & Time | Mon & Wed 6:00-8:40 p.m. |
| Student Time Commitment | 4-7 Hours Per Week |
| Company Time Commitment | 1 Hour |
| Duration | 7.57 Weeks |
Program Timeline
| Touchpoints & Assignments | Due Date | Type | |
|---|---|---|---|
|
Company & Projects Reveal
Company & Projects Reveal |
June 15th, 2022 | Event na | |
|
Teams Announced/Team Charters
Teams Announced/Team Charters |
June 27th, 2022 | Event na | |
|
Project Launch
Project Launch |
June 29th, 2022 | Event na | |
|
Visit with AFC School District Representative
Visit with AFC School District Representative |
June 29th, 2022 | Event na | |
|
Deliverable 1 Presentations
Deliverable 1 Presentations
|
July 11th, 2022 | Submission Required submission-required | |
|
Deliverable 2 Presentations
Deliverable 2 Presentations
|
July 20th, 2022 | Submission Required submission-required | |
|
Visit with AFC School District Representative
Visit with AFC School District Representative |
July 25th, 2022 | Event na | |
|
Deliverable 3 Final Presentation & Paper
Deliverable 3 Final Presentation & Paper
|
August 1st, 2022 | Submission Required submission-required |
Key Project Milestones
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July 11, 2022 - Gain Insight into the Status Quo
- Learn about the education foundation’s brand, history, structure, mission and values.
- Highlight your understanding of the purpose of the foundation and its stakeholders. How do they measure success?
- Which financial statements are most pertinent to this organization?
- What documents and resources will you need to obtain in order to build a financial reporting structure? In addition to the foundation by-laws and financial reports, what other information do you need?
- Where do the financial data come from?
- What drives the foundation’s costs and revenues? How are these categorized?
- How can you ensure a full accounting of assets and accounts?
Suggested Deliverable:
Financial Data Inventory and Map
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July 20, 2022 - Research Best Practices for Financial Reporting
- What do results from your secondary research on reliable sources and subject matter experts reveal about the best practices for school districts collecting, organization, documenting, and sharing financial reports?
- What are the most effective strategies documenting, monitoring, decision-making, and reporting activities to ensure best practice and compliance?
- Can you curate financial reporting templates that would be appropriate for the foundation to use/adapt for their own purposes? What are their strengths and limitations?
Suggested Deliverable:
Curated and annotated resources and reporting templates
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August 1, 2022 - Devise a Financial Reporting Structure
- Based upon your analysis of the foundation’s organization and financial documents and research on best practices, develop a strategy, set of tactics and tools for sound financial data management and reporting.
- What are your recommendations for a comprehensive and sustainable educational foundation financial reporting structure?
- How will this structure be useful to the foundation in achieving its mission? For communicating with stakeholders on the financial status, assets and how these are used? For communicating with potential contributors?
Suggested Deliverable:
Financial Reporting Structure and Supporting Templates/Frameworks
Project Resources
There are no resources currently available
Industry Mentors
Academic Mentors
Assigned Students
There are currently no students assigned.