Financial Best Practices for Government and School Business Leaders

Local government and school business officials are frequently tasked with making complex financial decisions—whether it’s financing infrastructure upgrades, acquiring essential equipment, or improving educational facilities. These projects might include anything from renovating aging buildings to investing in broadband access, vehicle/equipment fleets, or emergency response systems. Successfully navigating these projects requires more than just planning and community support—it greatly benefits from a knowledgeable financial partner who understands public sector budgets and the unique funding mechanisms available to municipalities and school districts.

Selecting the financial partner aligned with your goals

Finding a reliable, trustworthy, and knowledgeable financial partner who has a deep understanding of local government or school finances is essential to supporting your operational goals and long-term stability. Whether you’re navigating daily banking needs or planning for future projects, the right financial partner can offer more than just accounts and rates—it can offer guidance and a true relationship.

If your current financial provider isn’t proactive, doesn’t fully understand the unique needs of your municipality or organization, or isn’t offering the support you need, it may be time to evaluate what makes a financial partner a great fit for you.

• Are they accessible? An effective banking partner brings the advantage of regional knowledge and a track record you vet within your own network. Face-to-face availability ensures quick responses and personal service when it matters most.
• Do they have experience in the public and nonprofit sectors? Select a partner that understands your operational realities and regulatory requirements. A background in government banking ensures more insightful advice, tailored tools, and a more streamlined customer experience.
• Can they consult with you regularly? A regular 60-minute review meeting to proactively review your accounts, discuss fraud prevention, update you on rates, review collateralization or funding opportunities. You should also review other financial products or services that might be valuable.
• Do they offer value beyond financing? The best financial partners provide a full suite of services—cash management, fraud prevention tools, merchant services, and more. They should also be a sounding board to discuss any operational pain points.

Consider the depth of expertise as you select a partner

Your financial partner should be a resource with a depth of knowledge in government banking. By bringing an understanding of budget cycles, election timelines, or grant funding availability, industry expertise can be critical to the success of your banking relationship. Your financial partner should be able to guide you through loan structuring, help identify potential funding gaps and support you through the municipal approval process.

Rely on your financial partner as a resource for educating your team

Whether it’s educating you on new products and services, explaining banking jargon, from ACH and EFT to LOC and EDI, or keeping you updated on fraud prevention, you should be able to rely on your financial partner to empower your organization to stay vigilant.

A trusted financial partner can offer guidance on structuring financing, evaluating long-term impacts, and ensuring fiscal responsibility, ultimately helping government and school business officials turn capital plans or complex financial decisions into sustainable, community-serving outcomes.

Define your financial priorities

Before moving forward with a major initiative—whether it’s road work, athletic field upgrades, or building renovations—municipal and school leaders should have thoughtful conversations with their internal teams to clarify financial priorities and planning. Ask yourselves:

• How do our current needs shape what we require from a financing partner?
• What does our long-term plan include in terms of future capital or operational needs?
• Are we confident in our internal controls and fraud prevention practices?
• Have we explored all potential funding sources, including grants or low-interest financing options?

Once these questions are addressed, engaging your banking partner early can add real value. They can help you think through financing structures, provide insights based on other public-sector projects, and support your team in aligning funding with your community’s goals.