The Cost of Cash in K-12 Education

02/12/17

From the CEO

Greetings,

In the course of servicing our clients and managing distributions for classroom purchases, Title I funds, grants and other school business transactions, we have consistently heard about problems schools have related to cash collection.

ClassWallet has an innovative partnership with InComm, a leader in payment solutions, and will be announcing a new solution that will allow parents to pay school and lunch fees with cash at nearby retailers using barcode technology.

Look for the release with more details coming soon!

Sincerely,
Jamie
CEO, ClassWallet

Exciting News

The Cost of Cash in K-12 Education

One in five households earning less than $50,000 prefer to pay bills with cash. This includes school and lunch fees. When schools take in an average of $1.5M in fees each year, that adds up to a lot of cash running through backpacks, classrooms and the front desk. The impact - fraud, safety - and cost of managing cash in schools, especially those serving low income communities, is enormous. Check out our “Cost of Cash in K-12 Education” blog post to gain more insight about this problem.

ClassWallet CEO Addresses Title I Conference

ClassWallet CEO Jamie Rosenberg was invited to present to attendees of the National Title I conference last month in Long Beach, CA. As more districts adopt policies that decentralize parts of the procurement process, the number of transactions is bound to grow. Jamie spoke to the hard and soft costs related to purchase orders and how innovation exists to save districts time and costs.

Take ClassWallet Out to the Ballpark

Response from college athletic departments to ClassWallet’s Digital Wallet & Prepaid Card for Coaches and Student Athletes has been overwhelmingly positive. This spring University of Bridgeport baseball players will be getting their per diem expenses on the ClassWallet Debit Card. Go Purple Nights!

ClassWallet Shout Out at New York Edtech Week

At this year’s New York Edtech Week, Christopher Nesi, host of House of Edtech Podcast, asked Superintendent Adam Fried, an innovative education leader and superintendent of Harrington Park Public Schools about what he thinks are the most innovative companies. Fried highlighted ClassWallet as a company “lights out that I love.” Hear the whole podcast here.

Upcoming Events

Say Hi in Person! Find Us

Conecuh County Board of Education - ClassWallet Lunch & Learn Evergreen, AL March 21 National Schools Foundation Association (Speaking) Chicago, IL March 28 - 29 Southeast Regional Association of School Business Officials Orlando, FL April 3- 4 Utah Association of School Business Officials Provo, UT April 18 - 19

ClassWallet addresses the pain of managing checks, reimbursements, paper receipts, and the paperwork associated with tracking expenditures for school systems. The platform makes the accounting and audit trail very easy and helps reduce administrative costs.

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