Director of Finance (12 months)

The Foundation Schools
Largo, Maryland
Oct 05, 2022
Oct 11, 2022
Executive, Director
Full Time

The Foundation Schools is a special education day school which delivers innovative school programs and support services for children and adolescents with emotional disabilities, autism spectrum disorders and other learning challenges. For over 40 years, the combination of academic support and therapeutic services has given our students a chance to reach their full potential. The Foundation Schools has schools in Gaithersburg, Rockville, Largo and Landover, Maryland that serve over 200 students in grades K-12. We are currently accepting resumes for Director of Finance candidates for all schools, office located in the Largo school location.

Our Core Values’ provide a strong foundation for our programs, are integrated into our positive behavior intervention system, drive our actions and guide our staff and students daily to TWIRL (Teamwork, Work Ethic, Integrity, Respect, and Leadership). We offer a supportive working environment with small class sizes and excellent resources.

The Foundation Schools offers a comprehensive benefit package including tuition assistance and a generous retirement package. Visit our website at for more information.

The Director of Finance reports to and works closely with the Chief Executive Officer, works with the Board of Directors, and participates as an integral member of the senior management team.   They are responsible for all financial and fiscal management aspects of The Foundation Schools operations to ensure economic growth and sustainability.   The Director of Finance must understand federal, state, and county special regulatory guidelines as they relate to compliance of financial planning and reporting. The Director of Finance will manage the food and nutrition program guidelines as well as funding sources through USAC (E-Rate) and Medical Assistance. They lead the finance department and provide supervision and coordination of the financial administration, investment performance oversight, cash management, budgeting and analytics work of the organization.   They monitor short- and long-range strategic planning and provide critical financial insight and strategic support to the CEO, Board of Directors, Senior Management Team and Audit/Finance & Investment Committee.

Annual budget - $15,000,000 - $20,000,000

Supervises:  Direct supervision of all employees in the finance department and other staff or departments as assigned by the Chief Executive Officer


Additional Eligibility Qualifications:

  • Experience on senior administrative teams and working with nonprofit boards
  • Skilled in budget and resource development, and strategic planning
  • Knowledge of Maryland State Department of Education (MSDE) budget approval process
  • Proven experience in effective cash management and bank relations
  • Knowledge and experience in Medical Assistance funding and compliance
  • Proven experience in effective bank, cash and investment management
  • Excellent people skills

Essential Job Functions:

Financial Planning and Analysis

  • Prepare and submit the annual budget rate application package to the Maryland State Department of Education (MSDE) following their established rate setting methodology to calculate tuition rates as well as other counties and funding source annual approval process
  • Prepare and submit the annual budget for other funding activities and programs with Counties such as Montgomery County Public Schools
  • Develop and prepare annual operating budget for CEO and Board approval  
  • Oversee the implementation of the organization’s operational budget and prepare financial analysis reports to monitor achievement of The Foundation Schools financial objectives on department and/or monthly basis including analytics for CEO and others on the senior management team
  • Work with the CEO, board of directors and members of staff to provide consultative support to planning initiatives through financial and management information analysis, reports and recommendations
  • Monitor enrollment and program staffing comparative to the budget and provide recommendations to the CEO to avert a negative bottom line
  • Collaborate with the Information Technology Director in the design and implementation of an IT plan for the organization, allocating resources for the procurement of hardware and software that will meet organizational requirements
  • Oversee all department budget development and monitor all purchases and payments
  • Work with the Director of Communications & Development in the planning and implementation of fund-raising strategies as well as working on grant reporting
  • Develop and maintain capital budget for each fiscal year with collaboration with Director of Operations, Director of Technology and/or CEO

Accounting and Administration

  • Enhance, develop, communicate, implement and enforce finance department policies, procedures and practices 
  • Ensure compliance with appropriate internal controls and financial procedures, and that record systems are maintained in accordance with GAAP
  • Ensure legal and regulatory compliance regarding all financial functions
  • Review and approve all month-end closing activities, including general ledger maintenance and balance sheet reconciliation
  • Oversee the preparation of monthly financial statements in a timely manner
  • Analyze and interpret financial data and prepare reporting materials for the senior management team and board of directors
  • Manage and coordinate tax return preparation and filing
  • Oversee the coordination and activities of the financial and retirement plan audits conducted by independent auditors to ensure that all compliance requirements are met and the preparation of the annual financial statements are in accordance with GAAP
  • Work in conjunction with the board audit committee on auditor selection and engagement services
  • Work with the external CPA firm on an annual basis to ensure a timely completion of the audit report for both the Annual Financial Audit and the Employee Retirement Plan Audit including receiving a “clean opinion”
  • Ensure compliance related to the tax-exempt bonds and other correspondence with lenders and/or trustees
  • Work with the Development Department to prepare financial reports in support of initiatives and grant proposals and to reconcile in-kind and financial donations
  • Attend assigned state, district and local budget and partnership meetings and trainings

Finance and Cash Management

  • Interact with banks and other lending institutions and ensure appropriate asset and liability management
  • Oversee cash flow planning and ensure availability of funds as needed
  • Review and approve weekly payables and execute check signing
  • Oversee accounts receivable management and provide collection activity support
  • Oversee and review the processing of bi-weekly payroll consulting with Human Resources regarding payroll changes, time and attendance including the accuracy of the payroll
  • Work with the CEO and Board of Directors to provide investment performance oversight and evaluation

Leadership and Management

  • Oversee the finance department to include staffing, supervising and managing work allocations, cross-training, performance evaluations and professional goal development
  • Evaluate the finance department structure and team, and plan for continual improvement of the efficiency and effectiveness of the department as well as provide individuals with professional growth opportunities
  • Participate in the implementation of strategic business and/or operational plans, projects, programs and systems that will support responsible fiscal decisions
  • Direct and actively participate in the administration of the USDA meal program at both schools and E-Rate program to ensure program compliance with all applicable local, state and federal requirements
  • Lead the student meal program vendor selection, audit and billing processes
  • Direct or assist with contract negotiations
  • Lead on vendor source and relationship in technology and operations areas
  • Serve as the senior director on the Retirement Plan Oversight Committee and assist with the supervision of the fiduciary responsibilities of the organization
  • Work with the CEO and Human Resources Director to provide the highest quality and cost-effective benefits package to employee within budget limitations