hosts call out the fiscal dysfunction behind america’s school meltdown.
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accounting arc
with byron patrick and donny shimamoto
center for accounting transformation
when cnbc published a video examining why u.s. public schools are facing severe budget shortfalls, it sparked a passionate accounting conversation. on the accounting arc podcast, co-hosts donny shimamoto, cpa.citp, cgma, and byron patrick, cpa.citp, cgma, offer a reaction episode that reframes the crisis through the lens of financial strategy—and accountability.
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both cpas were struck by one glaring omission in the original reporting: the absence of accounting professionals in decision-making roles. “where’s the cfo?” asks shimamoto, founder and managing director of intraprisetechknowlogies, and founder and inspiration architect of the center for accounting transformation. “who looked at the time limits on that covid-era grant money and said, ‘hey, this isn’t going to last’?”
patrick, ceo of verifyiq, and co-founder and educator at tb academy, echoes that frustration: “it’s like budgeting on hopes and dreams instead of facts and forecasts.”
while the cnbc video emphasized the emotional toll—teacher layoffs, student hardship—the podcast hosts argued for a more balanced, strategic approach. “accountants bring an objective lens,” shimamoto says. “we can empathize with the mission, but we still have to plan for financial sustainability.”
patrick adds, “in many cases, administrative costs have ballooned while classrooms go under-resourced. that’s not just inefficient—it’s unacceptable.”
the episode highlights alarming parallels between the education system and the accounting profession itself:
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shrinking talent pools;
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rising operational complexity; and
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emotional resistance to technology adoption.
“schools and firms are both top-heavy,” shimamoto observes. “if we want better outcomes, we have to empower the people doing the real work—teachers and staff accountants alike.”
one of the episode’s strongest themes is the underrepresentation of accountants in public decision-making. “government accountants are often invisible,” patrick laments. “but they have the tools to steer these systems toward sustainability—if they’re empowered.”
shimamoto adds, “we need more cpas in public service. these systems won’t fix themselves.”
10 key takeaways
- many schools used temporary covid funds for ongoing operations, setting themselves up for crisis.
- accounting professionals were noticeably absent from these budget conversations.
- emotional pleas often overshadow objective financial planning.
- schools must base budgets on student enrollment and actual attendance.
- administrative staffing has grown disproportionately, draining resources from classrooms.
- the education sector mirrors many of accounting’s own struggles—especially staffing and resistance to tech.
- technology should empower teachers and accountants, not replace them.
- transparent financial forecasting is essential in both public and private sectors.
- government accountants need more visibility and authority.
- accountants have the power—and responsibility—to help #improvetheworld.