Network of 15 charter schools relies on cloudbased fund accounting to navigate budget hurdles.
Acero Schools in Chicago faced one change after another: management transitions, union renegotiations, and bank refinancing. The charter school network needed the right fund accounting solution to drive operations forward without affecting its lauded curriculum that serves 7,600 students.
First came a management transition, followed closely by union negotiations, and then bank refinancing soon after. Despite the series of events, Acero Schools continued to be one of the highest ranked charter school networks, as it served 7,500 students from kindergarten through twelfth grade, employed a staff of 750, and managed close to $100 million in revenue.
“We’ve had lot of change in the last couple of years,” explained Chief Financial Officer Michael Bradley. “A number of budget cuts have forced us to think about how to do more with less. First and foremost, you need great folks on your team; then you have to think about the system you’re using. Blackbaud Financial Edge NXT represents the engine for our department, so everything feeds into it.”