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2024 Budget for Early Childhood Center Assumptions: Revenues: - The Center is expecting Tuition on an average 60 students throughout the 2024 fiscal year. Each child will be pay an average of $400 per week 52 weeks, a 5.6% increase over 2023. - Grant revenue will increase because the school is expecting to receive 12 grants during the 2024 fiscal year, averaging $10,000 per grant. - Interest income is projected to be earned at roughly $100 per month. - Miscellaneous income is forecasted at $50 per month. - Program revenue is expected to decrease compared to 2023. The before school care is expected to earn $150 per week for 12 children on average for 9 months. In addition, the after-school care is expecting 21 children with the same $150 expectation for 9 months. Expenses: Personnel - Personnel expenses include the expectation of the same 14 full time staff at an average salary of $50,000, plus and Executive Director at $100,000 and the Operations Officer at $80,000. - In addition, the Center is planning on 6 part-time assistants at an average salary of $21,000. - Payroll taxes are estimates at 6.5% of total salaries and retirement benefits are figured at 4% of full-time salaries only. - The health insurance carrier will remain unchanged and is increasing its rates by an average of 7%. Facility - Heating and cooling expenses will be increasing 2.5% increase compared to 2023 - Janitorial and cleaning expenses are projected to run $1,425 per month. - Maintenance is contracted out and will be estimated at 8 hours per month at $75 per hour. Marketing - The quarterly newsletter is expected to cost $1,750 per quarter. - In addition, advertising will total $850 per month. - Lastly, promotional materials is projected to be $7,500 for key chains, water bottles, caps, and tote bags among other possibilities. Operating expenses - Bank service fees are expected to be the same as last year, no increase. - Board meeting expenses are thought to cost $800 per quarter for food and web site costs, while the committee meetings are projected at $300 per month. - Books and subscriptions are forecasted to be 250 per month. - Business insurance has been re-evaluated and is expected to increase 6.5% over last years expense and in addition to that increase, the Center will be adding cyber insurance totaling $9,500 for the year. - Computer maintenance is outsourced to a new IT firm estimating 15 hours per month at $175 per hour. - Rent is in its 4th year of a 5-year lease that totals $7,800 per month. - Miscellaneous operating expenses are estimated at $500 per month. - Office equipment, consisting of copiers and other operating equipment, is leased at a monthly rate of $475, no change from last year. - The cost for the internet is going down by switching to fiber and the monthly expense will be $480. - Monthly food supplies for the main program are forecasted to be $800 per month. - Service contracts include security at $75 per month, payroll service provider at $40 per month and a new service, shredding at $250 per quarter. - Telephone expenses are expected to increase $100 in fiscal year 2024 compared to 2023. Before and After School Program - Staff includes 7 part-time teachers at an estimated $6,300 per month for 9 months. - Payroll taxes are estimated at 6.5% of the total Staff expense for the before and after school program. - Food expenses are increasing, being estimated at 30 children at an average of $60 per child per month for 9 months. - Activities and supoplies for the before and after school program are expected to be $300 per month for 9 months