ERIC Number: ED405125
Record Type: RIE
Publication Date: 1996
Reference Count: N/A
Financial Management for Childcare Executive Officers.
Foster-Jorgensen, Karen; Harrington, Angela
This handbook is designed to assist childcare executive officers (CEOs) in managing the finances of their programs. The guide is divided into five sections. Section 1, "Financial Entrepreneurship," advocates the adoption of an entrepreneurial spirit in directors and recommends: (1) becoming the Chief Executive Officer of the program; (2) actively pursuing revenue for the program; (3) keeping abreast of the finances of the business at all times; and (4) involving the team in the management of the business, not just in the care and education of the children. Section 2, "Financial Forecasting," discusses the importance of fiduciary responsibility for the CEO, the role of the accountant, the art of budget building, revenue and expense forecasts, functionalized budget design, the use of account numbers, budget revision, cash flow projections, budget spreading, and 10 key indicators of fiscal management strength in early childhood businesses. Section 3, "Financial Practices," presents financial competencies for business directors, steps in conducting a cost analysis, and characteristics of annual financial audits. Section 4, "Financial Reporting," discusses required financial reporting forms, defines operating ratios, differentiates restricted and designated funds, and discusses petty cash, purchase orders, receipting income, accounts receivable and payable, financial statement development and interpretation, the use of financial statement for cash flow decision making, and balance sheet development. Section 5, "Financial Toolbox," contains worksheets for costs analysis, financial statements, balance sheets, income and expense budgets, and cash flow projections. The publication also lists topics for future chapters. (KDFB)
Descriptors: Administrator Role, Administrators, Business Administration, Day Care, Early Childhood Education, Educational Finance, Financial Audits, Financial Problems, Money Management, Parent Financial Contribution, Program Administration, Small Businesses
Early Childhood Directors Association, 450 North Syndicate Suite 80, St. Paul, MN 55104; phone: 800-925-3232 ($18.95, plus shipping and handling).
Publication Type: Guides - Non-Classroom
Education Level: N/A
Authoring Institution: Early Childhood Directors' Association, St. Paul, MN.