Start up Budget Writting Assignment

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CHAPTER 6:
Fiscal Management

Management of Child Development Centers

Eighth Edition

Patricia F. Hearron

Verna P. Hildebrand

6-*

Resources

Resource: a means (person or thing) through or by which an end or goal is obtained; dormant until used.

Materials: physical items; information

Equipment: toys, furnishings, vehicles

Space: buildings, playgrounds, insurance

Human energy (human capital): knowledge, skills, abilities of all participants (staff, children, families, volunteers)

6-*

Funding Sources

Fees charged to families

vary among communities

difficult to balance affordability with cost and quality

Government subsidies

Fund raising

in-kind donations

grant proposals

6-*

Calculating Staff Costs

Largest expense in center budget

Basic guidelines for calculating staff hours per classroom

meet or exceed NAEYC guidelines for group size and adult-child ratio

provide protected time for teacher planning

provide appropriate break time

provide paid time for cleaning after children leave

6-*

Constructing a Budget

Budget: plan, expressed in dollar amounts for how program will use resources to meet goals

Types

start-up (for new program; one-time costs)

operational (plan for coming year)

narrative (explanation of items)

Accurate projections

allow for fluctuations in income

expenses include: personnel, occupancy costs, insurance

6-*

Financial Management Strategies

Written policies and procedures for fairness and consistency

Accurate record keeping

cash-flow analysis (track income and outgo)

Internal controls

keep track think big

avoid waste buy in bulk

compare prices plan ahead (cycle menus)

consider hidden costs join forces