School districts are held accountable not only for the monies that contribute to the education system but also for mitigating any issues that threaten student learning. Some school districts are fortunate to have professional risk managers on staff who can identify and control the many risks that are unique to school systems. Most schools, however, place that responsibility on the shoulders of the school business manager or chief financial officer, who may not have the experience to identify and address those risks. Whether certified or not, school risk managers are responsible for a wide range of issues, including property and casualty insurance; benefits, such as health care, workers' compensation, and unemployment; facility and environmental safety; crisis management; and the personnel training associated with these programs. What's more, the school risk manager must be knowledgeable about issues ranging from IRS 403(b) changes to wellness programs and the effects of the Medicare, Medicaid, and SCHIP Extension Act on liability claims. To be effective, the school risk manager must have the support of the administration and a well-thought-out risk management team which may include representatives from district support services, school administrators, insurance agents and brokers, consultants, and a multitude of other specialists who bring a level of expertise rarely found inside the school environment. Now more than ever, schools need to turn to risk management practices to generate short- and long-range planning for losses that affect the schools' budgets. That money can be better served by contributing to the education process, not by paying claims. There has never been a more critical time for public entities to join the private sector in recognizing the importance of having clearly defined risk strategies in place. Schools and their districts increasingly understand the importance of successfully managing risks, since each risk can be viewed as both a threat and an opportunity.