Financial Strategy and Performance Report Template

Every college needs a financial strategy and performance report format that clearly describes how the college moved from the end of the previous fiscal year to the end of the current fiscal year and how the current state of the college will shape the strategy for the next fiscal year. This template provides such a format that can tell the board of trustees, the president, and chief administrators about the financial condition of the college and where it intends to go. Any college can change any section of the report to fit the financial condition, performance and strategy for the college. The following template should not be taken as a strait jacket.

Template

Financial State of the College, Previous Fiscal Year:

1. Operational Deficit
2. Total Net
3. Enrollment Loss During Fiscal Year 2023-24
4. Debt Load
5. Cash Position: Precarious

Financial Strategy for the Current Fiscal Year:

1. First Priority – Build a multi-month cash reserve.
2. Continue Reduction in Force (RIF) of Faculty and Staff Begun during the Prior Fiscal Year
3. Freeze Discretionary Expenses
4. Sell Unused Buildings
5. Cut Debt Service
6. Grow Enrollment
7. Pay Down Unpaid Vendor Billings
8. Rebuild Image by Restarting Renovation of the Library

Financial Strategy – Performance for the Current Fiscal Year

Action	Start of Fiscal Year	End of Fiscal Year	Change
Cash Reserves
Faculty & Staff Costs
Savings Discretionary Buildings
Cash from Sale of Buildings
Reduction in Debt Service
Enrollment
Payoff in Vendor Payables
Progress on Library

Major Financial Conditions at the End of Fiscal Year

	Start of Fiscal Year	End of Fiscal Year	Change
Operational Net
Total Net
Cash Reserves
Debt-Service
Enrollment

How We Produced the Financial Performance for the Current Fiscal Year

1. Describe how each strategy was accomplished
2. Continue list

Opportunities for Next Fiscal Year

1. Describe major opportunities
2. Continue list

Financial Weaknesses to Address in the Next Fiscal Year

1. Describe major weaknesses
2. Continue list

Financial Strategy for Next Fiscal Year

1. Operational Net
2. Total Net
3. Cash Reserves
4. Enrollment
5. Complete Library

Operational Plans to Achieve Objectives for Next Fiscal Year (Explanations)

1. Operational Net
2. Total Net
3. Cash Reserves
4. Enrollment
5. Complete Library