Description
Download, save, complete and submit the budget template. Please read the directions carefully. Use the Ratios Handout to determine how many staff you need for each class. If you decide to go by NAEYC ratio standards, you will have fewer children per adults, which suggests higher quality but is more expensive to provide than meeting the minimum ratio requirements. I HAVE INSERTED AN EXAMPLE FOR INFANT WHICH YOU MAY USE OR CHANGE. After figuring out how many staff you need, decide on the wage you would like to pay and then do the math to figure out how much that will cost per year (2080 is the number of work hours in a year at 40 hours per week). Multiply the total of all salaries times 25% to give the amount of fringe benefits (health, sick, etc) and then add that to get a grand total of salaries.
Insert the grand total on page 2, and add all budgetary items to determine your total expenses. The number of children you have when you are at 90% capacity IS 63 (70 TOTAL CHILDREN X .90) and then do the division to determine how much families would have to pay per week. Then answer the 3 questions at the bottom of the page.
Salaries are the largest part of any child care budget. You should have a BIG number. Don't forget, once you decide on your hourly rate, multiply that by the number of staff in the classroom, and then multiply that by the number of work hours in a year (2080).
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Explanation & Answer
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Outline
EDU 261 Budget Assignment
You have decided to open your own high quality child care center after working for three years
as a preschool teacher and assistant director in an excellent, established program in another
community. You have an Associate of Applied Science Degree in Early Childhood Education and
you want to ensure that all of the best practices you have learned are put into action. You want
to have an exemplary program that meets the needs of children and their families and where
staff will enjoy their jobs and remain with you for many years. You also want to make about
$35,000 per year yourself. You have decided to follow voluntary higher licensing standards
and open a 5 star center. You have a financial backer who has loaned you the money to build
and equip your center the way you want it. You already have a waiting list of 100 children
ready to enroll as soon as you open. The building is finished and the licensing consultant has
approved it, your room arrangements, and equipment. The sanitation consultant, fire marshal,
and building inspector have also approved everything. All that is left to do is to hire your staff
and develop your operating budget so you will know what to charge your parents. Your
minimum requirements for staff are caregivers must have at least an Associate’s Degree in Early
Childhood and 1 year experience in a licensed child care center. All staff must complete the NC
Early Childhood Credential and all other required trainings.
Classroom Group
Size
Staff Required
Wage per hour
Annual (x 2080)
Infant Room
8
____________
x
______________ x _____________
Toddler Room
12
____________
x
______________ x _____________
2-yr-old Room
12
____________
x
______________ x _____________
3-yr-old Room
18
____________
x
______________ x _...