Fiscal Management
1. Describe the different types of funding for children's programs.
2. Develop a center budget showing line items and amounts for both projected income and expenses.
3. Develop a staffing plan that aligns with your budget and number of children in your center.
4. Describe three strategies for ensuring that a child care center's income and expenses balance, or that the income exceeds the expenses.
5. Develop a written fee policy for your center. Include information on amount of fees, when they are due, and consequences for late payment.
contracts available to assist in covering operational costs as well as offering additional services such as tutoring or special education curriculums. Corporations may provide funds through their corporate giving program which often focuses on organizations supporting educational initiatives. Foundations offer support through large donations that may be focused on specific areas like early literacy or science-based learning; while private donors may contribute more modest amounts but still make an impact within the community.
Center Budget
Income:
• Government Grants & Contracts: $100,000
• Corporate Donations: $10,000
• Private Donors: $5,000
• Tuition Fees: $50,000
Total Income - $165,000
Expenses:
• Salaries & Benefits: $90,000
• Facilities & Equipment Costs: $30,000
• Supplies & Resources Costs:$15 000
• Professional Development Costs :$10 000
• Marketing & Advertising Costs :$2 500 Total Expenses - $147 500 Net Profit/Loss - +17 500
Staffing Plan The staffing plan should be aligned with the budget and number of children in your center in order to ensure that you have enough personnel available to provide quality care and instruction to each child enrolled at your center. The appropriate staff size can vary depending on enrollment numbers and state guidelines; however a typical model could be based on one adult supervising every four infants (0-18 months), five toddlers (18 months – 3 years) /preschoolers (3-4 years), or twelve kindergarteners / school agers( 5–11). You would need supplemental staff members for meal times , field trips , afternoon activities such as art projects etc . Additionally it is important to consider other roles such as administrative duties finance management , marketing etc . depending on the size of your center .
Three Strategies for Ensuring Balanced Income/Expense Ratio 1. Monitor Expenses Regularly – Keeping track of expenses both monthly and yearly will help identify unnecessary spending patterns you can avoid in future budgets . Try organizing all financial records into categories so it’s easier compare expenses across different time frames . This process also allows you evaluate effectiveness various budget items over time driving greater efficiency with fewer resources allotted towards them 2 Reduce Waste Where Possible—Analyzing inventory supply usage carefully can help reduce waste by making sure nothing is being ordered more than needed This also applies any contractual agreements made with vendors 3 Increase Non Tuition Revenue Sources—Generating additional revenue streams beyond tuition fees helps buffer against changing market trends For example exploring partnerships with local companies run fundraising campaigns etc allow access new resources potentially increase income overall Fee Policy Our fee policy requires parents/guardians enrolled at our facility must pay tuition fees per month due date stated below Failure submit payment this date will result late fees assessed accordingly Parents guardians who anticipate having difficulty making timely payments should communicate directly our office arrange alternate payment plans Amount Due Monthly Tuition Fees………………....…..…...$200 Late Payment Fees………………..….………………….…..$.25 per day Overview All tuition payments due no later than first day each month Payments received after this date assessed late fee twenty five cents per day until full amount paid Automatic withdrawal forms required initial enrollment will secure scheduled payments Please note refunds given missed days due illness closure short notice holidays etc Contact us anytime discuss potential arrangements payment schedule