Financial Project
Waqas AhmedUnit 4: Unit 4 - Project - Financial Project
Tiny Hands Preschool
You have been placed in charge of the Tiny Hands Preschool. Your first task is to submit a budget to the board of directors. Here is the information you know:
Tuition: MWFam $125/month 23 Students
MWpm $100/month 12 Students
TTham $100/month 12 Students
TThpm $100/month 12 Students
School year: January – May and September – December
AM classes are from 9:00am – 11:30 am
PM classes are from 12:30pm – 3:00 pm
Summer School: June – July ($300 flat fee) 10 kids none are new so no additional enrollment fee
Enrollment Fee: $50 per student
Dillon’s Neighborhood Partner program: $2000
Family Fun Night fund raiser: $5000
Expenses:
Admin: $300
Building Rental: $200/month (all year)
Phone book advertising: $25 month (all year)
Curriculum: $100
Health Dept License $100
Supplies: $3000
Family Fun Night expenses $1000
Fall Conference $250
The school employs a Director who is also the lead teacher and a second teacher. Sometimes the school employs a teacher aide. Currently the school is operating 1 aide.
Lead Teacher/Director Salary $37800
FICA (7.65%)
Medicare/Disability $1000
Retirement $3400
Disability $520
Acc Death Insurance $450
Health Insurance $4000
Christmas Bonus $500
Teacher Salary $22.50 per session
FICA (7.65%)
Medicare $190
Christmas bonus $200
Aide Salary $8.00 per hour
FICA (7.65%)
Substitute teacher $20/ session ($200 budgetted) The lead teacher is given 10 days per year.
Below are the spending lines for each item in the budget. Create a budget for the preschool.
Preschool Board | ||
Budget Proposal 2014 | ||
Acct # | Acct Name | |
INCOME |
|
|
3.302.100 | Total Tuition Income | |
3.302.200 | Enroll Fee | |
3.302.300 | Total Tuition Income | |
3.302.400 | Dillons Neighborhood Rewards | |
3.302.500 | Preschool Family Fun Night | |
| ||
Total Income |
|
|
EXPENSES |
|
|
5.302.100 | Preschool Administration | |
5.302.104 | Preschool Building Maintenance | |
5.302.105 | Preschool Advertising | |
5.302.110 | Preschool Curriculm | |
5.302.115 | Preschool Licenses | |
5.302.120 | Preschool Supplies | |
5.302.125 | Preschool Conference Fees | |
5.302.130 | Preschool Scholarship Exp | |
5.302.135 | Preschool Bank Expense | |
5.303.100 | Lead Teach/Dir Salary | |
5.303.105 | Lead Teach/Dir FICA (7.65%) | |
5.303.110 | Lead Teach/Dir Medicare (s/b disability) | |
5.303.115 | Lead Teach/Dir Retirement | |
5.303.120 | Lead Teach/Dir Disability | |
5.303.121 | Lead Teach/Dir Acc Death Ins | |
5.303.125 | Lead Teach/Dir Health Insur | |
5.303.130 | Teacher Salary | |
5.303.135 | Teacher FICA (7.65%) | |
5.303.140 | Teacher Medicare | |
5.303.145 | Aide Salary | |
5.303.150 | Aide FICA | |
5.303.155 | Aide Medicare | |
5.303.160 | Substitute Teacher Salary ($20 per session) | |
5.303.165 | Substitute FICA | |
5.303.175 | Auction Expense | |
| ||
Total Expenses |
|
|
Preschool Board Operating Totals | ||
Answer the following:
What is the bottom line for the preschool’s budget?
The payroll is run every two weeks. What is the usual paycheck for each of the three employees?
Enrollment did not come in as expected. There are only 18 kids in the MWF class and 10 kids in the TThpm class. What changes will you make so the preschool will not go in debt?
10 years ago
20
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financial_project.xlsx
