Creating a Budget for Your Early Childhood Organization
In this assignment, you will continue the budget development process by computing what is known as the “full cost of care.” In narrative form, you will use the Unit 3 Assignment Template as well as the Unit 3 Budget Spreadsheet to complete the assignment. Be sure to submit both the template and the spreadsheet to the Dropbox.
Part 1: Portrait of Organization
Using the Unit 3 Assignment Template, provide a portrait of your program using information from the Unit 1 and Unit 2 Journals.
In paragraph one, provide the following:
The name of your organization.
Identify the organization as a for-profit or a non-profit.
Provide the ages of children served.
Provide the number of children in each class.
How many children are you licensed to serve?
Share a brief statement of your program’s mission or values.
In the second paragraph, refer to the enrollment and staffing patterns that you identified in your Unit 2 Journal. Share the following:
The ratios that you will follow (be specific and share if these if the ratios you are using are in line with state standards, or national standards).
How many teachers will you need for each classroom?
What will their hours of work be?
How many hours per week will they work?
What is their salary?
Then, in a third paragraph, provide the following information:
Identify two written policies or procedures pertaining to finances that your program can apply to support efficient operations.
How do these written policies or procedures focus on maintaining and improving the quality of early childhood environments?
How can these written policies or procedures be applied when developing a budget?
Part 2: Budget Spreadsheet
Using the budget spreadsheet, calculate your annual budget based on the enrollment and staffing patterns that you determined for Part 1. You should create three versions of your spreadsheet to balance your budget. Be sure to create a small surplus for your budget. After creating your budget, calculate the average monthly budget (or dollar amount difference) and include that on your budget next to your annual revenue/expenses. Be sure to include the completed budget template when submitting this assignment.
Part 3: Budget Planning
After you have completed Part 2, refer back to the template in Part 1. In your final paragraph each, please respond to the following:
Explain the importance of cash flow planning.
Describe how your budget can be used as a planning tool for future budgets.
How will budget planning ensure a quality program? How did the surplus/deficit vary under each sample budget? How do these results measure the health of your organization?
Describe the effects that staffing and tuition changes had on your revenue.
Assignment Guidelines
Your assignment should be at least 3 pages, not including the title and reference pages, and should include the following elements:
Title page: Provide your name, title of assignment, course and section number, and date
Body: Answer all the questions in complete sentences and paragraphs
Reference page: Sources in APA format
Include at least two scholarly references
Use Arial or Times New Roman 12-point font, double-spaced, and left aligned
Use standard 1″ margins on all sides
Use APA Formatting and Citation style (If you need assistance with APA style, please visit the Academic Success Center.)
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