Anderson Economic Group and Project Innovations, Inc., a consulting firm focused on organizational development and strategic planning, were retained by the Bloomfield Hills School District to assist in the completion of a Strategic Plan for the district. Anderson Economic Group was specifically tasked with completing an education market assessment, and analyzing the district’s balance sheet and financial reserve position.
The education market analysis required AEG to analyze both the education market in Bloomfield Hills and the overall health of the area’s economy. We identified BHSD’s place in the education market, specifically identifying the demographic typically attracted to and targeted by a school system like the Bloomfield Hills School District. Then we assessed what the target demographic looks for in a school system. We also reviewed key economic and demographic trends in Southeast Michigan, Oakland County, and in the district, and discussed how changes in these trends may impact the district through 2018. Additionally, in a separate document, we presented the findings of our financial review, which compared the districts balance sheet and its financial reserve levels with those of similar districts.
Our deliverable allowed the Bloomfield Hills Schools to make an educated and informed strategic plan to ensure the continued academic and economic success of the district. The financial analysis was further used in determining strategies for financing operations and capital expenditures that would be necessary as the district executes its strategic plan.