Identify and describe two ways that you can adjust your budget planning
Identify and describe two ways that you can adjust your budget planning sheet to increase the weekly as well as the annual tuition fees.
Another way to raise the tuition fee for each age group both monthly and yearly is to reduce their tuition fees by $2.00 a week. This would generate $200 more a week, and this would cost approximately $9,600 more for a whole year. Is it a possibility to be able for parents to apply for daycare assistance from social services? I think that would help not only the parent by saving them money but also cuts some of the costs to be able to disburse it around where needed. I would also add a type of after care service for those parents who have to work late. I think this would be good and can give an extra income to the facility.
What are three additional line items that you might add to the “Total Other Expenses” column? Why did you select each of these?
The three additional line items that I would add are field trips, special events, classroom safety. I would add field trips because it enhances a child’s ability to learn outside the classroom. It is a hands-on experience for them. I would add special events in because we can put on shows and have parents and families come and watch. Special events allow for teacher parent interaction, we can ask if the parents could bring in something for everyone in the class and that could alleviate the extra spending. Classroom safety is pretty important because it is keeping our kids safe and protected. This means anywhere from making sure the building and classrooms are up to date, make sure there isn’t any mold forming, making sure that they don’t get sick, so we have to sanitize everything at the end or start of everyday.
The way the sample budget for Rainbow Place appears, the income and expenses balance the budget. If the “Other Income” category (which is not fixed) changes, this can have a direct impact on meeting the cost of the ‘Total Expenses’ line item. What are two ways that the budget can be adjusted to compensate for this difference?
To create a space in the budget, I suggest that an internship program should be developed for ECE college students, where they can help teachers in the classroom and around the school, as long as if your state allows interns to be left alone with the kids if not then they can help the teachers with supplies and other things around the classroom. This could cover the teacher’s cost for a substitute. We would eliminate the food being cooked and instead we could get help from like a food bank where they provide free meals to schools, or have the parents pack a lunch for their children. I think this would be best because of how many children are allergic to certain foods and you don’t want to risk anything when it comes to children’s health. I would still recommend having a food budget to include snacks.
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