(Baltimore, MD) March 1, 2017 — Allovue, a pioneering education finance technology company, today launched ESSA Ready - a web site to support K-12 school leaders as they prepare their financial reports for compliance under the new regulations of the Every Student Succeeds Act (ESSA). Created for district and school-level leaders, the site is a guide for meeting the new financial reporting requirements in the statute. Under ESSA, school districts must now demonstrate greater transparency with their financial data, including showing per-pupil expenditures by school based on actual expenses.
“The new financial regulations in ESSA have created uncertainty for many K-12 administrators,” said Jess Gartner, the CEO and founder of Allovue. “Allovue works with school and district leaders to alleviate their concerns around additional financial transparency and to reduce the administrative burden of producing per-pupil expenditure data. We’re eager to share our knowledge and shine a light on the changes and challenges to come.”
Chris Rinkus, formerly a senior official with the District of Columbia Public Schools, now serves as Allovue’s point person on ESSA. “School districts have an opportunity to educate parents and the community about how resources are being used,” said Rinkus. “The districts that embrace this opportunity will discover that when the public is better informed about effective school spending, it is more likely to be supportive of the district’s vision.”
ESSA Ready features both original content penned by Allovue’s team and links to useful resources. The new site will help K-12 administrators understand the new financial requirements and direct them to resources that help them alter existing or develop new practices to meet these requirements.
“This is a whole new world for many school districts in terms of their financial data,” said Gartner. “ESSA will require supplying the public with a clear view of school-level equity like never before. It’s important than ever to have the right information and the right partnerships in place. ”
Allovue’s software platform, Balance, integrates seamlessly with K-12 districts’ existing accounting systems and other data systems to help financial managers budget, monitor, and evaluate spending. Balance and Allovue’s professional services help support financial preparation and analysis needed to comply with ESSA.
About Allovue
Allovue is an education finance technology company that empowers educators to strategically and equitably allocate resources to best support the needs of students. Their signature software platform, Balance, helps educators budget, manage, and evaluate spending. Allovue also supports district financial strategy through research, training, and equity analysis. To learn more, please visit allovue.com.