Article Link: http://exchangepress.com/article/budgeting-for-quality-and-survival-in-the-21st-century/5015307/
A great deal has changed since I began my first child care center over 25 years ago, ranging from the dramatic increase in the cost of doing business to the level of intense competition many of us now experience. Running a child care program has always been a delicate balance between what we would ideally like to do and what we can actually afford based upon our financial resources. But, now more than ever before, it isn’t enough to be committed to quality programs for children, we must be able to harness and utilize our financial resources wisely so that our programs can continue to survive even during difficult and uncertain times.It is essential for directors and/or owners to create realistic goals that reflect the actual tuition income and the financial resources available. In order to maintain control of our finances, we must develop a well thought-out budget every year, and continuously monitor and revise it as we go. It is the only way to ensure we have the resources to not only maintain our priorities but to guarantee stability in our organizations. It can no longer be something we hope to get around to, budgeting must be one of our ...