The principal's guide to school budgeting

CREATING BUDGETS

Envision that you are the director of The Learning Place Early Childhood Center. A severe flood has recently occurred in the area, causing water damage to many homes and businesses in the town.

You will seek new funding sources to cover costs, develop a balanced budget, and provide a rationale for your budgetary decisions.

Access the following to complete this ASSIGNMENT

· Funding Source Template

· Assessment Budget

· Assessment Mission

Part I: Funding Sources

On the “Funding Source Template” provided, list and describe at least three specific funding sources that you will seek out to help pay for the new costs due to the flooding. Provide a rationale explaining how the funding sources meet the needs of the early childhood program.

Part II: Creating the Budget

Create a balanced budget under the tab “Please Update Budget” in the Excel “Assessment Budget” document. This balanced budget must account for the following that occurred as a result of the flood:

1. The Learning Place Early Childhood Center needs a great deal of repairs as the entire floor is covered with up to 1-foot of water. The estimated repairs are approximately $15,000.

2. It will cost about $6,000 to fix the damaged furniture and equipment.

3. The outdoor play area has large cracks in the pavement and the jungle gym has become rusty due to flooding. Repairs on the outdoor play area are estimated at about $10,000.

4. Families in the neighborhood are experiencing losses in their homes as well. As a result, several families have decided to withdraw their children from your early childhood care center as they cannot afford the weekly tuition. The estimated tuition loss is approximately $25,000 for the year.

5. Two lead teachers and one assistant teacher have decided to move to a different town, causing them to resign from their positions. These teachers will only be paid approximately half their salaries for the year.

Balance your budget so that it is clearly aligned with the mission and beliefs of The Learning Place Early Childhood Center in the “Assessment Mission” document.

Part III: Budget Rationale

Write a 3- to 4-page essay that:

· Explains how your budget reflects the mission and vision of The Learning Place Early Childhood Center

· Provides the rationales for the changes that you made to the budget in Part II

· Explains why cash-flow analysis, projections, and long-term planning are all important when managing budgets (Note: In your explanation, be sure to relate these terms to the given scenario and any relevant professional experience that you may have.)

RESOURCES/ REFERENCES (Use these resources in answering the questions please)

PART 1

Financing and Budgeting, Chapter 7, pp. 187–197

Freeman, N. K., Decker, C. A., & Decker, J. R. (2013). Planning and administering early childhood programs (10th ed.). Boston, MA: Prentice Hall. Chapter 7, “Financing and Budgeting” (pp. 187–197)

Early Childhood Education Funding: Federal, State, and Private Resources

Noble, J. (2013, February 5). Early childhood education funding: Federal, state, and private resources [Blog post]. Retrieved from http://www.scilearn.com/blog/funding-for-early-childhood-education.php

Starting a Child Care Center

U.S. Department of Agriculture (USDA), Rural Information Center, National Agricultural Library. (2016). Starting a child care center. Retrieved from https://www.nal.usda.gov/ric/starting-child-care-center

PART 11

Organizational Management, Chapter 5, pp.81-104

Hearron, P. F., & Hildebrand, V. (2011). Management of child development centers (7th ed.). Upper Saddle River, NJ: Pearson. Chapter 5, “Organizational Management” (pp. 81–104)

Understanding the Budgeting Process, pp. 24-29

Sorenson, R. D., & Goldsmith, L. M. (2013). The principal's guide to school budgeting (2nd ed.). Thousand Oaks, CA: Corwin Press. Chapter 1, “Understanding the Budgeting Process” (pp. 24–29)

Operating Budgets for Child Care Centers

Child Care, Inc. (2001). Operating budgets for child care centers. Retrieved from http://www.earlychildhoodnyc.org/resourceguide/resources/OperatingBudgets-Child%20Care%20Inc%20publication.pdf

The Budget-Vision Relationship and the National Standard

Chapter 2

pp. 35-56

A Model for Integrating Vision, Planning, and Budgeting

Chapter 4

pp. 73–103

Sorenson, R. D., & Goldsmith, L. M. (2013). The principal's guide to school budgeting (2nd ed.). Thousand Oaks, CA: Corwin Press.

PART 111

The Budget-Vision Relationship and the National Standard

Chapter 2

pp. 35-56

A Model for Integrating Vision, Planning, and Budgeting

Chapter 4

pp. 73–103

Sorenson, R. D., & Goldsmith, L. M. (2013). The principal's guide to school budgeting (2nd ed.). Thousand Oaks, CA: Corwin Press.

Planning and Budgeting in Non-Profit Organizations: Unless the Process is Supported by Well-Defined Policies and Guidelines, Clear Strategic Goals and Operating Priorities, it Can Become Quite Chaotic and Confusing, pp. 22-27

Piché, M. (2009). Planning and budgeting in non-profit organizations: Unless the process is supported by well-defined policies and guidelines, clear strategic goals and operating priorities, it can become quite chaotic and confusing. CMA Management, 83(1), 22–27. Retrieved from http://www.thefreelibrary.com/Planning+and+budgeting+in+non-profit+organizations%3A+unless+the...-a0208630347.

Fiscal Management, Chapter 6, p.117-121

Hearron, P. F., & Hildebrand, V. (2011). Management of child development centers (7th ed.). Upper Saddle River, NJ: Pearson. Chapter 6, “Fiscal Management” (pp. 117–121)

Building the School Budget, Chapter 6

Sorenson, R. D., & Goldsmith, L. M. (2013). The principal's guide to school budgeting (2nd ed.). Thousand Oaks, CA: Corwin Press. Chapter 6, “Building the School Budget”

Five Principles for a Better Budget Process

Minnesota Budget Project. (2007). Five principles for a better budget process. Retrieved from http://www.mnbudgetproject.org/research-analysis/minnesota-budget/process-reforms/five-principles-better-budget-process

Absolute Beginner's Guide to Project Management

Horine, G. M. (2005). Absolute beginner's guide to project management. Indianapolis, IN: Que Publishing. http://my.safaribooksonline.com/book/software-engineering-and-development/project-management/0789731975/determining-the-project-budget/ch09lev1sec2

Performance Based Budgeting: Fact Sheet

National Conference of State Legislators (NCSL). (2015). Performance based budgeting: Fact sheet. Retrieved from http://www.ncsl.org/research/fiscal-policy/performance-based-budgeting-fact-sheet.aspx