Prestige School Solutions

David Faunce, Founder and CEO

Prestige School Solutions bridges this crucial gap. For nearly a quarter century, the staff of Prestige has managed all back-office tasks—from accounting, payroll and accounts payable handling to ensuring regulatory compliance and issuing public financing instruments—for public and private schools of choice.

“By relieving school administrators of this burden, they are better able to support their teachers and focus on the primary goal: offering quality education to the students,” says David Faunce, Prestige’s Founder and CEO.

A Strategic Guide for Financial, Regulatory and HR Needs

Public charter schools and independent schools of choice face stringent regulatory requirements, including detailed financial reporting, data compilation and accountability compliance related to federal, state and local education funding. Unlike for-profit accounting, governmental accounting involves multiple dimensions and additional breakdowns to ensure compliance with strict annual audit standards. This complexity is a significant burden, especially for school leaders who are focused on providing quality education and supporting their teachers.

By relieving school administrators of the burden, they are better able to support their teachers and focus on the primary goal: offering quality education to the students.

Prestige provides both end-of-month reporting to school boards and real-time reporting through a live dashboard, allowing clients to access up-to-date financial information, such as current cash and departmental budget balances. This real-time capability is a significant differentiator, ensuring clients always have the most current financial data at their fingertips.

With a focus on public finance, Prestige also supports schools undertaking major construction projects by providing advisory services for tax-exempt bond underwriting. Prestige collaborates with underwriters and investors to facilitate bond issuance and subsequently manages compliance and disclosure reporting post-issuance, including assistance with bond arbitrage and periodic bond surveillance calls with investors.

School leaders seek Prestige’s expertise for budget challenges, HR issues and strategic initiatives. Prestige also provides leadership coaching and continuing education for administrators and governing board members.

A one-size-fits-all approach doesn’t work in an environment that is built upon schools being innovative and different. Prestige’s solution is, therefore, tailored according to each school’s distinct needs.

To that end, Prestige employs cutting-edge technology and the latest cloud-based accounting and compliance solutions and, through a proven implementation process, ensures consistent communication and a steady flow of information.

By maintaining regular contact with school leaders and business offices through weekly update meetings, the team is continuously building and nurturing its valuable relationship with clients and becomes intimately familiar with the school’s needs, struggles and goals. This close relationship allows Prestige to proactively help administrators and boards of directors anticipate and plan for potential issues.

As a result, Prestige has maintained relationships with some client schools for over 20 years, relationships that are grounded in shared expertise and a mutual commitment to achieving the same goals.

The Prestige Power to Fuel School Success

Prestige has often intervened to assist schools with gaining critical clarity when undertaking large capital transactions, some totaling tens of millions of dollars. Recently, it assisted a school aiming to build a $25 million facility. The school had spoken with numerous lenders, all of whom presented differing products and terms. Stepping in, Prestige orchestrated the involvement of key stakeholders, swiftly facilitated the underwriting of the bond, and within a year, the new facility was operational and funded seamlessly through the bond.

The wide array of offerings is a result of Prestige’s unique team of highly qualified professionals with extensive experience in various facets of the industry. The team includes seasoned CPAs, auditors, former regulators from state departments of education, attorneys, investment advisors, accomplished school leaders and accountants. Auditors on the team ensure rigorous quality control and audit integrity. This diverse group of professionals brings a wealth of expertise across education, leadership, accounting, legal and HR domains, enabling Prestige to deliver comprehensive and high-quality services to clients.

As charter schools expand nationwide, so does Prestige. Five years ago, it operated in one state with a small team serving a limited client base. Today, it spans five Southeastern states, consulting with nearly 200 schools and employing 100 staff members. As it grows and migrates across state borders, Prestige’s goal is to become a leading national firm in charter school financial management and expand the footprint of its recognized name, which is trusted by charter schools across the U.S.

Relentless in its pursuit of cutting-edge solutions, Prestige always pushes beyond the status quo to deliver the highest standard of service every day. With a trusted partner like Prestige by their side, charter schools and private school leaders can confidently focus on educating students in a thriving school while having the peace-of-mind that Prestige has the back-office well under control.