For decades, ISM has recommended that Boards of Trustees, with their School Head and Business Manager, undertake strategic financial planning on a quadrennial cycle, unless economic or other exigencies intervene to dictate a shorter cycle. If you, as Board leader or School Head, face the possibility of a precipitous decline in your school’s enrollment demand for any reason—natural disaster, pandemic, economic reversal, or simply your draw-area demographic changing dramatically—consider the following steps in thinking about how to, or whether to, reshape your strategic financial plan.