Chief Financial Officer
29 days ago
Houston
Job DescriptionJob DescriptionChief Financial Officer Beta is a Title I Schoolwide campus. I understand that part or all of this job could be funded with federal funds. Location: Houston, TX Reports To: Superintendent / CEO Supervises: Finance Department Staff Position Overview The Chief Financial Officer (CFO) serves as the senior financial leader of the organization and is responsible for the strategic financial management, fiscal integrity, regulatory compliance, and long-term financial sustainability of the charter school organization. The CFO works closely with the Superintendent, Board of Directors, Finance Committee, campus leadership, and external stakeholders to ensure sound financial stewardship of public and private funds. The CFO oversees all financial operations including accounting, budgeting, financial reporting, grant management, regulatory compliance, debt management, capital project financing, and internal financial controls. The CFO ensures adherence to all applicable federal, state, and local regulations including: • Texas Education Agency (TEA) requirements, • Charter FIRST financial accountability standards, • Financial Accountability System Resource Guide (FASRG), • Governmental Accounting Standards Board (GASB), • Uniform Grant Guidance (2 CFR Part 200), • Serve as the primary financial strategist for the organization., • Partner with the Superintendent, Chief Business Officer (CBO) and Board of Directors to develop long-term financial sustainability strategies., • Develop multi-year financial forecasts and long-range financial plans (3–5 years)., • Provide financial modeling and analysis for strategic initiatives, expansion, enrollment growth, and facilities development., • Provide financial guidance to school leadership on resource allocation and financial decision making., • Ensure financial decisions support the academic mission and operational priorities of the school.Financial Management & Accounting, • Direct all accounting and financial operations of the organization., • Ensure accurate financial recordkeeping in accordance with GAAP, GASB, and TEA financial accounting standards., • Oversee general ledger, accounts payable, accounts receivable, payroll, purchasing, and financial reporting., • Maintain strong internal financial controls to safeguard assets and ensure regulatory compliance., • Manage organizational banking relationships and cash management practices., • Oversee reconciliation of financial accounts and maintenance of accurate financial records., • Ensure proper fund accounting practices for charter school operations.FASRG Compliance & Financial Reporting Standards, • Ensure all financial operations comply with the Texas Education Agency Financial Accountability System Resource Guide (FASRG)., • Maintain compliance with TEA account codes, financial reporting standards, and fiscal procedures., • Monitor updates and revisions issued by TEA related to FASRG and implement required updates to financial procedures and accounting practices., • Ensure accurate financial coding and reporting across all departments and campuses., • Provide guidance and training to finance staff and school leadership on FASRG requirements., • Ensure financial systems and reporting structures remain aligned with current TEA financial accountability standards.Budget Development & Fiscal Oversight, • Lead development of the annual organizational operating budget., • Develop multi-year financial projections and sustainability models., • Oversee preparation and monitoring of:, • Campus budgets, • Department budgets, • Athletic program budgets, • Extracurricular activity budgets, • Capital improvement budgets, • Construction project budgets, • Work closely with principals and department leaders to manage monthly budgets., • Monitor budget performance and provide monthly variance analysis., • Recommend corrective actions to ensure fiscal discipline and budget compliance.Enrollment & ADA Revenue Forecasting, • Develop and maintain enrollment-based financial projections using Average Daily Attendance (ADA) revenue models., • Collaborate with enrollment and academic leadership to forecast student enrollment trends., • Provide financial projections based on enrollment scenarios and funding formulas., • Monitor ADA reporting and ensure alignment between student data reporting and financial revenue projections., • Provide leadership with regular updates on enrollment-driven revenue impacts.Board Financial Reporting & Leadership Communication, • Prepare and present monthly financial reports to the Board of Directors and Finance Committee, including:, • Financial statements, • Budget vs. actual analysis, • Cash flow reports, • Debt service reporting, • Financial forecasts, • Prepare monthly financial reports for campus principals and department leaders., • Prepare quarterly financial performance reports and forecasts., • Develop annual financial reports summarizing fiscal performance and financial outlook., • Provide financial guidance to the Board regarding fiscal policy and financial oversight responsibilities.Charter FIRST Compliance, • Ensure compliance with all Texas Charter FIRST financial accountability indicators., • Maintain Charter FIRST rating of 95 or higher., • Prepare and submit all required financial accountability reports to TEA., • Monitor organizational financial metrics to ensure alignment with Charter FIRST standards., • Serve as the organization’s primary liaison with TEA regarding financial accountability.Procurement & Purchasing Compliance, • Oversee all procurement and purchasing processes in compliance with FASRG procurement requirements and applicable state and federal regulations., • Ensure purchasing procedures follow competitive procurement guidelines when required., • Maintain purchasing policies that support transparency, fairness, and fiscal responsibility., • Ensure proper documentation and approval processes for purchases., • Train staff on procurement requirements and purchasing procedures.Grants Management (Federal, State, Local, and Private), • Oversee financial management of all federal, state, local, and private grant funds., • Ensure compliance with Uniform Grant Guidance (2 CFR Part 200)., • Monitor grant budgets and expenditures., • Ensure accurate documentation for grant compliance and reimbursement., • Coordinate financial reporting to granting agencies., • Support program leaders in proper allocation and use of grant funding.Audit & Regulatory Compliance, • Lead preparation and coordination of the annual independent financial audit., • Ensure compliance with:, • TEA financial accountability standards, • Single Audit requirements (if applicable), • Federal grant compliance regulations, • Serve as the primary liaison with external auditors., • Address audit findings and implement corrective actions when necessary., • Maintain documentation and financial procedures to support audit readiness.IRS & Nonprofit Financial Compliance, • Ensure compliance with nonprofit financial reporting requirements., • Oversee preparation and filing of IRS Form 990 and other required filings., • Maintain financial records necessary for nonprofit regulatory compliance.Debt Management & Financial Instruments, • Manage organizational debt obligations including:, • Municipal bonds, • New Market Tax Credit (NMTC) financing structures, • Other financing agreements, • Monitor compliance with bond covenants and reporting requirements., • Coordinate with financial advisors, bond counsel, and underwriters., • Provide analysis and recommendations regarding refinancing or debt restructuring when appropriate.Capital Projects & Construction Financial Management, • Manage financial planning and oversight for construction and facility projects., • Develop project budgets for construction and capital improvements., • Monitor expenditures and ensure projects remain within approved financial limits., • Coordinate with project managers, architects, contractors, and financial advisors to maintain fiscal accountability.Financial Governance & Board Policy Oversight, • Serve as the administrator responsible for Board Policy Module 4 – Financial Management and Governance., • Maintain and oversee implementation of all board-approved financial policies., • Recommend updates to financial governance policies as regulations evolve., • Ensure policies related to purchasing, budgeting, internal controls, and financial oversight are properly implemented., • Support the Board Finance Committee in fulfilling fiduciary responsibilities.Internal Controls & Fraud Prevention, • Establish and maintain strong internal financial controls., • Implement systems that reduce financial risk and prevent fraud, misuse, or mismanagement of funds., • Ensure segregation of duties across financial operations., • Monitor financial transactions to identify potential irregularities., • Develop and enforce policies for ethical financial conduct and financial transparency.Team Leadership & Staff Management, • Supervise and mentor 3–4 finance department staff members., • Establish clear performance expectations and professional development plans., • Foster a culture of accountability, accuracy, and continuous improvement., • Ensure cross-training to maintain operational continuity., • Ensure timely completion of payroll, purchasing, and financial reporting functions.Required Financial Reporting CycleMonthly Reports, • Board financial reports, • Campus budget reports, • Department budget reports, • Grant expenditure reports, • Cash flow reports, • Budget variance analysisQuarterly Reports, • Financial forecasts, • Board Finance Committee reports, • Strategic financial performance updatesAnnual Reports, • Annual operating budget, • Annual Financial Report (AFR), • Charter FIRST reporting, • External audit preparation, • IRS and regulatory filingsQualificationsRequired, • Master’s degree in Finance, Accounting, Business Administration, or related field., • Minimum 5 years of CFO or senior financial leadership experience in a school system, preferably Texas charter schools., • Demonstrated experience maintaining Charter FIRST ratings of 95 or higher., • Deep knowledge of:, • Texas charter school finance, • TEA regulations, • FASRG accounting standards, • Governmental accounting (GASB), • Federal grant management, • Experience managing:, • Complex organizational budgets and financial reporting., • Charter school facility financing, • Construction project budgetingPreferred, • CPA, MBA, or related advanced degree., • Experience managing:, • Municipal bonds, • New Market Tax Credit financing, • Experience with charter school financial management systems.Core Competencies, • Strategic financial leadership, • Governmental accounting expertise, • Regulatory compliance management, • Budget development and fiscal oversight, • Financial reporting and analysis, • Internal controls and risk management, • Strong communication and leadership skills, • High ethical standards and financial integrity
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