Measuring Financial Health with the Composite Financial Index: Course Details


The complete course is three weeks, from April 1 - 19, 2019.

The class is conducted in a learning management system, which places greater responsibility on the learner than other traditional professional development programs. Classes are conducted asynchronously, so there is no single time each week when participants are required to be online. However, participants should commit to spending approximately 3-5 hours on the class each week.

Coursework and assignments for each week open on Monday morning, and should be completed by the following Sunday evening. Grace periods are given, but interaction is more effective when the entire class is working on the same topic. Participants will connect and collaborate with each other through several forms of interactive media, including short videos and discussion boards.

Certificate of Completion

Registrants interested in obtaining a Certificate of Completion for a course must complete the program and earn the Course Completion badge. A certificate will only be issued to a registrant who has earned this badge.

Course Description

Week 1: Introduction to the Composite Financial Index and the Four Core Ratios

In the first week of the course, you will learn about the genesis and benefits of the Composite Financial Index. You will be introduced to the four core ratios and how they are calculated and used in discussion of the index. Also in this week you will calculate a five-year trend of the core ratios and develop a narrative of the trends and factors/actions the school has taken that are affecting the trends.

Week 2: Calculating the CFI

In the second week of the course you will learn about the strength factors and weighting schema for calculating the CFI and how to calculate your own CFI five-year trend. You will learn how the use of debt in the independent school sphere differs from that in higher education and how debt influences the calculation of your CFI. Students will post a summary of their school’s five - year trend and and whether it validates or contradicts what you know about your school’s financial health.

Week 3: Practical and Strategic Application

In the final week of the course you will learn how to use the CFI in conjunction with your school’s strategic plan. Through an exercise, you’ll forecast your school’s CFI trend for three years and see how your current strategic financial plan will affect your CFI in the future. You will also have the opportunity to map out your introduction of the CFI to other school leadership (HOS, Finance Committee chair, etc.). Then you may either have the conversation with leadership or do a practice-run with other course participants and share feedback on your experience.


SHRM Information

Credit Hours: 6

Category: Business Acumen

NBOA is recognized by SHRM to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). This program is valid for 6 PDCs. For more information about certification or recertification, please visit


HRCI Information

Credit Hours: 6

Category: HR Business

NBOA is a recognized provider of recertification credits. HR Certification Institute® pre-approved this program for 6 HR Business credits towards aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification.


NBOA Summer 2019 Webinar Series

New Summer Webinar Series: Innovations in Independent School Business Models

Learn about forward thinking solutions and strategies designed to address the unprecedented challenges around issues of enrollment, financial aid, sustainability and value perception this summer in NBOA's Summer Webinar Series. All webinars take place at 4:00 PM ET and are FREE to NBOA Members and $89 for nonmember schools.

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