Operating Metrics

Each of these variable metrics should be presented with YTD data as well as the average for the last three years:

• Inquiries
• Applications
• Annual fund - amount of money raised
• Annual fund - percentage of parents participating
• Amount of revenue collected
• Amount of money spent
• Percentage of variation in revenue and expenses from the annualized budget

It may make sense to use additional or different metrics depending on the school’s current operating position and strategic priorities.



Note that the metrics identified above are variable. This allows the board to see progress over the course of the year. Comparing this year’s metrics to last year’s or a running three-year average provides the context to understand if the current numbers are on track, a reason to celebrate, or a cause for concern.

Annually, the board should see fixed metrics alongside three-year averages.

Some fixed metrics might include:

• Total enrollment and enrollment by division
• Percentage of student and staff attrition
• Diversity in both staff and students
• Monies raised the prior year

Additionally, be sure to review:

• End of the year budgetary surplus or deficit
• Endowment holdings and growth over the prior year compared to an appropriate index

These metrics, while incredibly important, do not provide insight into the fundamental mission of the school -- educating students. Unfortunately, the quality of the education delivered is not easily quantifiable.

Boards and heads working in partnership can attempt to identify proxies to measure the strength of the program. Yet many of the most obvious proxies do not actually measure the strength of the program. For instance, standardized test scores often measure the IQs of accepted students and the socioeconomic status of their parents rather than actual student growth.

In trying to measure academic excellence, consider this quotation attributed to Albert Einstein:

“Not everything that can be counted counts, and not everything that counts can be counted.”

A smart board knows what to count and what to evaluate by using other measurements.