Symposium 2010: Concurrent Sessions

Battling the Bond Financing Blues: The Bank Qualified Tax Exempt Credit Program

Dan Bronfman, Growth Capital Associates, and Kelny Denebeim and Brent Wiblin, First Republic Bank

Most business officers are familiar with tax-exempt bond financing, but with the recent upheaval in the financial markets, many are equally familiar with the potential volatility associated with those bonds. The American Recovery and Reinvestment Act of 2009 created an alternative financing tool that offers schools a traditional bank loan with a low fixed interest rate. This session will review the Bank Qualified Tax Exempt Credit Program, including the features of the program and how banks deliver it. Find out if this program is right for your school.

Learning Objective: Participants will learn about a new financing program available to independent schools.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Finance

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Change is Everywhere: Lessons Learned from South Africa

Alistair Dry, St John's College

South African society has gone through major transformations in the past 15 years, and its independent schools have been greatly affected. While those schools are thousands of miles away geographically, they share many similarities with American schools, so there is much to be learned from our South African colleagues. This session will share lessons learned and best practices from South African experiences, including how schools have dealt with change, pressure, financial challenges, and diversity, and will suggest innovative and inspiring ways for American schools to do the same.

Learning Objective: Participants will learn how independent schools in South Africa have responded to change and how to apply those lessons to meet their own schools’ challenges.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Eating Well: Six Steps Toward Sustainable Dining

Gary Giberson, Sustainable Fare

Schools are taking a hard look at their food service programs, hoping to provide better food in an environmentally responsible manner. From going trayless to planting a vegetable garden, there are many ways to move toward sustainable dining. And despite common perceptions, it is possible to feed students more healthful food, reduce waste, and conserve resources, without increasing the food service budget. Gary Giberson did just that at The Lawrenceville School. In this session, he will outline the process of developing a sustainable dining program, discuss ways to manage costs, and show the resulting connections that can be made between students, dining center staff, and the local community.

Learning Objective: Participants will learn how to implement a sustainable dining program at their schools.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Healthy Employees, Healthy Bottom Line: Managing Health Insurance Programs

Jennifer Borislow and Mark Gaunya, Borislow Insurance

Between pending healthcare reform, continually escalating premiums, and the economic crisis, schools face continuing change and challenge on the employee benefits front. In an attempt to balance their budgets, many schools are looking at employee benefits programs, whether searching for lower-cost alternatives for health insurance or shifting more of the cost to employees. This session will cover the latest trends in health insurance, offer suggestions for cost-effective changes to employee benefits programs to help create long-term sustainability, and review the latest on healthcare reform, including the important policies, provisions, and features of the plan, the timeline for implementing the changes, and how reform will affect faculty and staff.

Learning Objective: Participants will learn about the current health insurance market, including managing costs and how healthcare reform might affect independent schools.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Personnel/HR

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

The Holy Grail: Developing and Implementing a Policy and Procedures Manual

Joseph Blatt, Loeb & Troper LLP

Past NBOA surveys indicate that only 50% of independent schools have an up-to-date policy and procedures manual for the business office. Now, when the IRS and others are scrutinizing nonprofit organizations for transparency and requiring policies for gift acceptance, compensation, conflicts of interest, and record retention, it is even more important to have documented policies and procedures. This session will provide guidance on policies to include in a policy and procedures manual and how to structure each policy and related procedure, and provide sample policies and procedures for key areas.

Learning Objective: Participants will learn how to create a business office policies and procedures manual and which key information must be included.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Business Management and Organization

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Protecting the Mission: Fads, Trends & Principles

David Zach

One of the best ways to think about and do something about the future is to recognize fads, trends, and principles. Fads are flavor, as in the spice of life. Trends are about movement and change. They’re deeper and more important than fads, so you need to work for them or fight against them. Principles are the sorts of things that don’t change. Knowing your principles helps you deal with fads and trends. David Zach will show you how to play with fads, work with trends, and live by principles, instead of the typical behavior of being seduced by fads, ignorant of trends, and resistant to principles.

Learning Objective: Participants will learn how to differentiate between fads, trends, and principles to support the school’s mission.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

What Goes Down Should Come Up: Independent School Endowments

John Griswold, Commonfund

In 2008, the capital markets all fell at once, leaving investors no place to hide. Asset values plunged, credits froze, liquidity dried up, and many schools cut spending and scrambled to protect the value of their endowments. With the markets having recovered somewhat recently, endowment managers are assessing whether to take more investment risk or pull in their horns. Based on the 2009 Commonfund/NBOA Study of Independent School Endowments, this session will review what independent schools are doing with their asset allocation, spending policies, liquidity, gifts, and debt; explore the governance and fiduciary implications of the current legislative and regulatory environment; and discuss what happened and the implications for endowments in the future.

Learning Objective: Participants will learn about the current endowment market and how independent schools have responded to the changing investment environment.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Finance

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Deferred No More: Facilitating a Facilities Turnaround

Bill Keslar, Building Solutions, and Cindy Stadulis, Dwight-Englewood School

During the building boom of the past ten years, many independent schools ignored deferred maintenance on their existing buildings. This session will describe how one school recognized the need for radical change in the management of its physical plant and implemented a facilities program to improve the school’s competitive position, image, operating budget, and culture. Topics include creating an RFP and hiring a consultant for a facilities audit; hosting and conducting such an audit; initiating cultural change; and addressing broad issues, such as personnel, in the audit. The session will offer techniques for communicating with and engaging the community and implementing the results of the facilities audit.

Learning Objective: Participants will learn how to create and implement a facilities improvement plan.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Education

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Dotting the Is and Crossing the Ts: Effectively Negotiating the Head’s Contract

Caryn Pass, Venable

Concern about intermediate sanctions has brought increased focus to the employment contract for the Head of School, but if schools focus solely on legal requirements, they may miss an opportunity to strengthen the strategic alliance between the Head and the Board of Trustees. Done well, the process of developing and negotiating the Head’s employment agreement can set the tone for a healthy and productive working relationship between the Head and the Board, by promoting a positive connection and ensuring that all parties feel comfortable with the nature of the work ahead. This session will discuss the provisions of the agreement that, if drafted strategically, will benefit both parties for years to come.

Learning Objective: Participants will learn how to effectively negotiate the Head of School’s employment agreement.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Personnel/HR

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Making the Right Choice: How to Select an Insurance Broker

Cheryl McDowell and Ron Wanglin, Bolton & Co.

Hiring the right insurance broker or benefits consultant is critical to ensuring a school receives good advice and has proper coverage, but without a professional background in insurance, business officers may be unsure of how to proceed. Insurance brokers specializing in independent schools will discuss the Request for Proposal (RFP) process and a panel of business officers will share practical insights and best practices in selecting a broker, including establishing a timeline; data to provide to firms; questions to ask the candidates; how to structure interviews; and how to evaluate proposals.

Learning Objective: Participants will learn about selecting an insurance broker.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Management Advisory Services

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Not Business as Usual: Putting a For-Profit Mindset to Work in the Business Office

Arthur Diaz, Pomfret School

Despite the familiar mantra, “This is a school, not a business,” independent schools can learn from those in the corporate world. Arthur Diaz brought his “for-profit” mindset to Pomfret School’s business office, identifying ways to save time and money and to improve service. In this session, he will explain his approach and share his experiences, including the difference between “team” and “family” and why it matters; how to instill a customer focus mindset, using the “McDonald's in Russia” analogy; creating a “dashboard” for continuous improvement; using technology to improve efficiency and service; and involving students and faculty to increase understanding and obtain buy-in. Learn how thinking like a business can be a good thing for your school.

Learning Objective: Participants will learn how to use theories and procedures from for-profit organizations to improve the operations of the business office.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Business Management and Organization

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

On the Road: Best Practices in Managing Off-Campus Programs

Ann McCollum

Whether it’s a day trip to the local art museum, a spring break backpacking trip in the Rocky Mountains, or a student exchange program in France, many independent schools offer a wide array of off-campus experiences for their students. While off-campus programs can greatly enhance a school’s curriculum, there are risks involved in the most basic field trip, and it’s the business officer’s job to eliminate and mitigate those risks. This session will cover numerous aspects of off-campus programs, including best practices; fundamental considerations for developing and improving a risk management plan; assessment and evaluation; and getting the community to follow policies and procedures.

Learning Objective: Participants will learn how to create policies and procedures to reduce and mitigate the risks of off-campus programs.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Management Advisory Services

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Taming Technology: E-myth Busters

Suzanne Bogdan, Fisher & Phillips, and Lee Conner, Woodward Academy

Technology can have a tremendous impact on a school’s operations and academics, and not all of that impact is positive. Within the school’s leadership team, there is often disagreement or confusion about the proper use and limitation of technology, and the quick pace of change adds to the challenge. How long should email messages be archived? Should students be allowed to use their cell phones during the school day? Should faculty “friend” students on Facebook or other social networking sites? This session will discuss the administrative and legal considerations surrounding the use of technology in schools. Participants who would like a specific topic addressed may submit entries for discussion at http://sites.google.com/site/embnboa2009/.

Learning Objective: Participants will learn how to create policies and procedures to manage the use of technology in their schools.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Computer Science

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Working Together to Prepare for 403(b) Plan Reporting and Audit Requirements

Carmie Howell, TIAA-CREF

Beginning with the 2009 plan year, large 403(b) plans (defined as having 100 or more eligible participants) subject to ERISA are required to have an annual audit. Schools with a calendar year plan should be preparing for the first audit. Topics to be covered include year-end requirements for plan sponsors; an overview of TIAA-CREF’s year-end report package; sample reports; Statement on Auditing Standards (SAS) 70; and limited scope versus full-scope audits.

Learning Objective: Participants who use TIAA-CREF as a 403(b) provider will learn about the resources available from TIAA-CREF and how to prepare for a 403(b) plan audit.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Personnel/HR

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Texting, Tweeting, and Digital Tribes: Thoughts on the Kids of Today and Tomorrow

Maggie Jackson

The greatest casualty of our mobile, high-tech age is attention. By fragmenting and diffusing our powers of attention, we are undermining our capacity to thrive in a complex, ever-shifting world. In this session, award-winning Distracted author Maggie Jackson explores the impact of our media-saturated culture on students and families, and outlines how new scientific discoveries related to the science of attention can help our children in the information age.

Learning Objective: Participants will learn how students are affected by the constant distractions of today’s culture.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Doing It Right: Cost Cutting and Reducing Liability in Lean Times

Melanie Poturica and Donna Williamson, Liebert Cassidy Whitmore

In these times of budget cuts and an increased demand to do more with less, schools may consider implementing creative or alternative measures to alleviate some of the financial burdens of this economy. Any such measures should be undertaken thoughtfully and with an eye to avoiding liability. This session will provide practical tips and tools to get schools through these tough economic times and will cover the legal ramifications of implementing new measures. Topics will include early retirement incentives to employees; layoffs; severance agreements; and health insurance and other benefit plans.

Learning Objective: Participants will learn about ways to reduce personnel expenses.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Business Law

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Forewarned is Forearmed: The Next Generation of Independent School Risk

Chris Duble, Fred C. Church Insurance

The last decade brought unanticipated and unthinkable risk management and insurance disasters such as Y2K, 9/11, Hurricane Katrina, avian and swine flu, Virginia Tech, and the financial markets crash. What new issues might independent schools face in the next ten years? A list of possibilities includes Environmental Protection Agency audits; lawsuits with 8-figure awards, judgments, and settlements; electronic discovery; donor lawsuits; and information technology security threats. In this session, one of the largest independent school insurance brokers in the US will share his risk management visions and latest experiences¬ - scary, timely, and critical for business officers to understand.

Learning Objective: Participants will learn about new risk management issues that may affect independent schools.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

LIBOR and Swaps and Downgrades, Oh My: Trends and Opportunities in Independent School Finance

Kevin Quinn, Wye River Group

In the past ten years, independent schools took advantage of low interest rates and accessible credit to finance building projects, but nobody foresaw how far the market would swing. With the market implosion of 2008, independent schools carrying tax-exempt debt have faced numerous challenges, including bank credit rating downgrades; rising cost and overall scarcity of letter of credit facilities; increasingly stringent financial covenants; underperforming interest rate hedges; general interest rate volatility; restructuring of existing debt; capital budgeting; and investment management. This session will focus on developments in the economy, financial services industry, capital markets, and federal tax law relevant to debt management and capital financing, and will discuss some new financing options such as Bank Qualified Bonds and “Window” VRDBs.

Learning Objective: Participants will learn about recent development in the tax-exempt bond market.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Finance

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Nothing but Net: Constructing a Net-Zero Energy Building

Randy Smith, The Putney School

The lack of a gym left some of The Putney School’s sports teams without a place to play or practice, and student-athletes had to be transported to off-campus practice facilities on a regular basis, which was not in keeping with the school’s commitment to environmental conservation. This situation provided Putney with an opportunity to design and build a field house that combines sustainable construction, high performance energy conservation technologies, and passive solar electrical production. The resulting building, which opened in October, will produce as much energy as it uses over the course of a year. This session will describe the process the school went through to design and build the field house, the technologies associated with the project, and its use as a teaching tool for other schools.

Learning Objective: Participants will learn how schools can construct environmentally sustainable buildings that generate as much energy as they use.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Town and Gown: Developing Community Partnerships

Jean Campbell, Vistamar School

In trying to maintain quality with fewer resources in these difficult economic times, many schools are seeking innovative ways to deliver their programs. Partnerships with local organizations including public and charter schools are one avenue worth exploring. Such partnerships can benefit an independent school’s bottom line and curriculum while providing services and financial assistance to the community. This session will explore one school’s five-year experience with community partnerships, demonstrating how true partnerships can benefit the school and the larger community.

Learning Objective: Participants will learn how partnerships can benefit both the school and community organizations.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Specialized Knowledge and Applications

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Where Do We Go From Here? The New 403(b) Regulations

Monica Calhoun, Giller & Calhoun, and Gary Mauger, New Pinnacle Consulting

While the focus of many business officers has been compliance with the plan document rules, the new 403(b) regulations also require considerable attention to overall plan compliance. This session will review a number of issues related to the new regulations, including how to effectively enforce the rules governing loans and hardship distributions; the correct treatment of funding vehicles that have been discontinued under the plan; how to change or suspend plan contributions; how to terminate a plan; and how to prepare for the required plan audit.

Learning Objective: Participants will learn how to resolve issues related to the new 403(b) regulations.

Program Level: Basic
Estimated CPE Hours: 1.5
Field of Study: Personnel/HR

Delivery Method: Group-Live
Prerequisites: None
Advanced Preparation: None

Doing It Right: Cost Cutting and Reducing Liability in Lean Times

Melanie Poturica and Donna Williamson, Liebert Cassidy Whitmore

Forewarned is Forearmed: The Next Generation of Independent School Risk

Chris Duble, Fred C. Church Insurance

Healthy Employees, Healthy Bottom Line: Managing Health Insurance Programs

Jennifer Borislow and Mark Gaunya, Borislow Insurance

Not Business as Usual: Putting a For-Profit Mindset to Work in the Business Office

Arthur Diaz, Pomfret School

Taming Technology: E-myth Busters

Suzanne Bogdan, Fisher & Phillips, and Lee Conner, Woodward Academy