Afton advises one of the nation’s largest public charter school systems through financial reorganization
Immediately prior to the founding of Afton, Afton co-founder, Carrie Stewart, advised Aspire Public Schools (“Aspire”) on improvements to the timeliness and accuracy of the organization’s financial information utilized by board and school level decision making. At the time, Aspire operated 30 schools for 9,800 students in California. Today, Aspire operates 40 schools in California and Tennessee, serving 16,000 students.
Our guidance to Aspire included recommendations for board finance committee governance, finance and accounting roles, responsibilities and skill sets, cash flow guidance, and long term planning considerations.
Following this work, Afton was engaged to assist Aspire in 2012 on their refinancing strategies. Afton performed an in-depth analysis of Aspire’s multiple debt financings and its multi-year projections, resulting in a prioritization for future refinancing efforts that could provide the most financial relief. Over the course of the next several years, Aspire was able to successfully execute on these recommendations. In 2015, Afton assisted the organization again, this time, performing a review of the organization’s payroll processes.
