Create A Sample Budget

To create a sample program personnel budget and to evaluate your budget. (A sample has been attached to guide you in the process).

Scenario:
You are the director of a small center, Child Time, and forecasting for your upcoming year. Your program will have three classrooms open, each projecting to be full: two toddler rooms of 8 children (in each classroom) and a preschool room of 18. All three rooms will need two teachers the entire hours of operation, 8:00 am to 6:00 pm. Teachers can work no more than eight hours per day, meaning you will need additional coverage during the day in each room. You need to create an annual budget that considers the expenses of six teachers plus you (adding in 25% for fringe benefits to base salaries) to the income generated by tuition. Your goal is to keep the percentage of your budget spent on personnel at 70% or below.

Create a spreadsheet to calculate the average hourly rate you can pay all of your teachers, assistants and yourself, which includes the percentage of total income you are spending on payroll. This spreadsheet also needs to include what you are charging for tuition for each age group.

Self-Reflection: 50 points

1. For your budget, explain how this budget addresses the issues in the scenario (40 points).

   Chapter 5 Scenario Sample Budget

   Focus Assignment 75 points.

   Position Title Classroom Hourly wage p/h Annual

   wage

   Tuition

   Rate came from 5 star market rate for

   Haywood County

   Toddler room #1

   Teacher

   Toddler room A $11.00 22,880 $897. Per month per child= 7,176. for 8 children

   Annually =$86,112

   Toddler room #1

   Teacher Assistant

   Toddler room A $10.00 20,800

   Toddler room #2

   Teacher

   Toddler room B $11.00 22,880 $897. Per month per child= $7,176. for 8 children

   Annually =$86,112

   Toddler room #2 Teacher Assistant

   Toddler room B $10.00 20,800

   Preschool Teacher Preschool room $11.00 22,880 $706. Per month per child = $12,708. For 18

   children

   Annually = $152,496

    

   Preschool Teacher

   Assistant

   Preschool room $10.00 20,800

   PT Teacher to float Preschool/ toddler

   room

   $9.00 14,040

   PT Teacher to float Preschool/ toddler

   room

   $9.00 14,040 Total operating budget

   Annually = $324,720

   70% $227,304

    

    

    

   1 Director 35,360

   3 lead teachers @ 11 per hour $68,640

   3 assistant teachers @ 10 per hour $62,400

   2 part time floaters @ 6 hours per day @ 9 per

   hour $28,080

   Payroll = 194,480

   Director n/a $17.00 35,360 Fridge Benefits @ 25% = $48,620

   Total payroll 243,100 (which is over the 70%

   goal by $15,796