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EDC 365 Financial Aspects of EarlyChildhood Programs
Spence, Mary


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The School for Education at Park University is to be known as a leader in the preparation of educators who will address the needs, challenges, and possibilities of the 21st century.

Park University School for Education  Conceptual Framework


Course

EDC 365 Financial Aspects of EarlyChildhood Programs

Semester

S2J 2012 PV

Faculty

Spence, Mary

Title

Adjunct Faculty

Degrees/Certificates

Bachelor or Science - Business Administration
Master of Art - Curriculum and Instruction, Early Childhood Education

Office Location

online

Office Hours

online; contact by phone Mon., Wed., & Thurs., 9:00 a.m. - 4:00 p.m CST or by e-mail

Daytime Phone

816-210-6047

E-Mail

mary.spence@park.edu

Semester Dates

March 19, 2012 to May 13, 2012

Class Days

online

Class Time

online

Prerequisites

Admission to the Early Childhood Education and Leadership program or permission of the instructor.

Credit Hours

2


Textbook:

Hearron, Patricia F. & Hildlebrand, Verna. (2005). Management of child development centers. Seventh Edition. Boston: Pearson.
 
Jack, Gail. (2005). The business of child care: Management and financial strategies. Canada: Thomson Delmar Learning.
 
 

(Please Note: All Park University School for Education candidates seeking a degree in Education (certification and non-certification tracks), must purchase Foliotek, the School for Education’s electronic portfolio system. As purchasing and accessing Foliotek is a multi-step process, please follow these instructions: 

1.      Decide the Contract Period and fee for which you will be paying. Minimally, you must purchase a contract which extends to the year you expect to graduate, however some students purchase a contract extending one year beyond graduation. 

 Contract Period    

 Contract Fee

Per Student (Prepaid)

Cost Breakdown

Per Student, Per Year

 1 year

 $30.00

$30.00

 2 years

 $59.00

$29.50

 3 years

 $87.00

$29.00

 4 years

 $112.00

$28.00

 5 years

$120.00

$24.00

6 years

$125.00

$20.83

2.      Send an email to Carol Williams (carol.williams@park.edu) with the following information:

a.      Your Name

b.      The Contract Period you wish to purchase

c.      Your student identification number

d.     Note: Students on a non-certification early childhood track, Teaching Young Children or Early Childhood and Leadership, need to request purchase of the NAEYC portfolio).

3.      Within a few days, you will receive from Foliotek an email with online purchasing information. Upon receipt of this email, purchase your Foliotek contract.

4.      Upon receipt of your payment, you will receive your login information. You must then send a final email to Carol Williams (carol.williams@park.edu), requesting she provide your current education professors and an academic advisor (list them) access to view your portfolio. It is imperative you complete this final step.

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

Decker, C. A., & Decker, J. R., & Freeman, N. K., & Knopf, H. T. (2009). Planning and administering early childhood programs. Ninth Edition. Columbus: Pearson 
 
Murray, Kris. (2012). The ultimate child care marketing guide: Tactics, tools, and strategies for success.
St. Paul: Redleaf Press.
 
Neugebauer, Roger. (2007). Managing money: A center director's guidebook. Redmond: Child Care Information Exchange.
 
The instructor may make other readings available.

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.

http://www.naeyc.org
http://www.naccrra.org
http://www.childcareaware.org
http://www.dol.gov
http://www.ccw.org

Course Description:
EDC365 Financial Aspects of Early Childhood: The course will examine the financial aspects of early childhood programs related to establishing and operating early education centers and family child care homes. Issues of quality, compensation and affordability will be addressed. Steps in planning a budget based on the programs vision, mission and goals and a regular analysis of the budget as a planning tool will be emphasized. Financial records necessary to provide evidence of a sound fiscal management system will be addressed. Fiscal policies and procedures and insurance needed to protect program integrity and assets will be analyzed. Effective marketing, public relations, and community outreach strategies will be explored. Prerequisite: Admission to the Early Childhood Education & Leadership program and EDC347 2:0:2.

Educational Philosophy:
Learning occurs through a combination of  lectures, readings, discussions, research, and interaction with peers. During this course students will engage in discussion, explore ideas, and write and compute in order to achieve an understanding of financial mangagement.

  Instructor Learning Outcomes

  1. Develop a budget with appropriate stakeholders to support vision, philosophy, mission and goals of the program. (NAEYC Program Accreditation Standard, Leadership 10.25 and 10.26; Director's Credential VII
  2. Analyze budget on a monthly and quarterly basis to understand variance between projected budget and actual revenues and expenses and develop an actionplan for amending the budget as needed. (NAEYC Program Accreditation Standard, Leadership 10/23 and  10.51)
  3. Develop written policies and procedures for collection of tuition and fees. (NAEYC Program Accreditation Standard, Leadership 10.15; Director's Credential VII
  4. Develop a written salary scale, benefits package, and policies and procedures to administer benefits equitably and fairly. (NAEYC Program Accreditation Standard, Leadership 10:38 and 10:46; Director's Credential VII
  5. Identify financial records, policies, and insurance needed to conform to standard accounting practices. (NAEYC Program Accreditation Standard, Leadership 10.12, 10.21, and 10.23; Director's Credential VII)
  6. Analyze accounting software availavle to determine program that best meets the needs of the program. (NAEYC Program Accreditation Standard, Leadership 10.10)
  7. Develop public relation policies and strategies to promote and market the program in the community. ( Director's Credential VII and VIII)
Class Assessment:
Assessment Descriptions
 
1. Weekly Discussion Questions & Responses - 3pts max per question X 2 questions = 45 pts
    (week #2 has one question)                            3pts max per question X 2 questions = 45 pts
                                                                                  Total Discussion and Response = 90 pts
Each week students are expected to respond to two discussion questions and at least two responses to your peers.
 
2. Introduction  (Due 3/21/12; 10pts extra credit) 
In order to build a community it is important that we know a little bit about each other.  Please share a brief paragraph about yourself, your academic and professional experiences, and your goals for this semester.
 
3. Mission & Vision  (Due 3/25/12; 50pts)
Provide a description of your dream early childhood program and develop a mission and vision for this program.
 
4. Program Director Interviews    (Due 4/1/12; 75pts)
Interview two early childhood program directors. Write a summary of each interview and compare and contrast the two programs.
 
5. Software Evaluation  (Due 4/8/12; 25pts)
Choose one software company and evaluate the software program it offers. How useful do you think it would be to your program?
 
6. Policies & Procedures  (Due 4/22/12; 50pts )
Write policies and procedures for collecting tuition and fees. Develop written salary scales, benefits package,and policies and procedures to administer benefits equitably and fairly.
 
7. Financial Plan  (Core Assessment) (Due 4/29/12; 150pts )
Develop a financial plan for your dream program, that includes an annual and quarterly budget and a plan for tracking revenue and expenses.
 
8. Marketing & PR Plan  (Due 5/6/12; 50pts)
Write a marketing and public relations plan and describe how you will put it into action.
 
9. Final (Due 5/13/12; 50pts) 
Choose one of the final questions and write a thoughtful response, using text and related resources to support your response.

Grading:

Weekly Discussion Questions & Responses - 3pts max per question X 2 questions = 45 pts
                                                                      3pts max per question X 2 questions = 45 pts
Week #2 only has one question                              Total Discussion and Response =  90pts
 
Introduction                             Due 3/21/12    
Mission & Vision                     Due 3/25/12      50pts
Program Director Interviews    Due 4/1/12        75pts
Software Evaluation                 Due 4/8/12        25pts
Policies & Procedures             Due 4/22/12       50pts
Financial Plan                          Due 4/29/12     150pts 
Marketing & PR Plan              Due 5/6/12         50pts
Reflection                                Due 5/13/12       50pts 
                     Total points                                                   540pts    
 
500 - 540 = A
459 - 499 = B
418 - 458 = C
377 - 417 = D
    0 - 376 = F
 
 

Late Submission of Course Materials:

Assignments must be submitted on time to receive full credit. Computers make writing and revising much more productive, however technology can also cause problems. It is your responsibilty to plan ahead. All  written assignments are due at midnight Sunday and discussion questions should be posted by midnight Wed. Peer responses are due by midnight Sunday. All students should access the class at least every other day to read discussuion threads. You will not be able to post to the discussion thread after the weekly deadline. Any late assignments will be dropped one letter grade, unless it has been approved by the instructor prior to the due date.
 

Classroom Rules of Conduct:

Each student is an important part of the community of learners. Class participation and weekly questions are an important part of the course. The discussion thread is an academic environment, just as if you were in a classroom.  Netiquette is to be followed. Correct spelling and grammar must be used throughout the course, slang is not acceptable.  Be sure to proofread before posting to the discussion thread.
 
Each week you must choose two discussion questions, write a thoughtful response supporting your ideas with citations form the readings, or related articles for you which you may be familiar.  You will also be expected to respond to your peers comments by sharing your thoughts, offering constructive criticism, and additional ideas related to the discussion.  Points will be given based on your involvement with the discussion. 

Course Topic/Dates/Assignments:

Week #1  -  Program Mission and Vision
 Lecture: Program mission and vision power point.
Assignments week #1: 
1. Write a brief paragraph introducing yourself to the class, include your educational and professional experience, personal interests, family (if you wish), and what you hope to achieve in this class.  Also include your experience(if any) with financial management.
Due 3/21/12  
 
2. Provide a description of your dream early childhood program including your philosophy on early childhood education.
Develop a mission and vision statement for this program. Use the power point lecture to help you shape your ideas.
Due 3/25/12   50pts
 
 
3. Interview the directors of two different types of early childhood centers. (NAEYC accredited programs are preferred but not required for this assignment). Write a summary of each interview, comparing and contrasting programs. 
   Large/corporate program                                                                                                                                                       
   Campus or university lab program
   Family care program
   Small privately owned or religious program
                        
                        The following questions will provide a framework for your interview.
                        ~Describe the process and the people involved in developming the annual operating budget.
                        ~What are the biggest financial problems of your center and how do you solve these problems? 

~Do you feel adequate resources are available to support the program's philosophy, vision, goals and child outcomes? Describe those resources.  
~Describe your policies and procedures for collecting and depositing fees.
~Describe your process and timeline for analyzing the annual budget with current revenues and expenditures and the actions you might take to reconcile the differences.  

                       ~Describe your system of checks and balances in order to insure a sound fiscal system.
                       ~Describe your policies and procedures for developing salary scales.
                       ~Describe fringe benefits provided to employees.
                       ~Do you use a computerized accounting system? If so please, describe the software you currently use.  How did you select the
                              software and what are the strengths and weaknesses of the software you are using.
Due 4/1/12 - 75 pts

Week #2 - Business Plan
 Assignments week #2:
1. Read: The business of child care
    Chapter 2 - Enrollment, Staffing and Tuition Fees
 
2. Read: Management of child development centers
    pp. 118 - 120 Starting a New Business
 
3. Read: How to Prepare a Business Plan (Located in Doc Share)
 
Week #3 - Finance and Budget Development
 Assignments week #2:
1. Read: Management of child development centers
   Chapter 6 - Fiscal Management, pp.114-118
   Child Care Management Software Resources, pg.126
 
2. Read: The business of child care
    Chapter 4 - The budget
    Chapter 5 - The budget as a planning tool
 
3. Read  Managing Money 
    Child Care Administrative Software (Located in Doc Share)
 
4. Choose one company on page 126 of Management of child development centers,
    
evaluate the software system  it offers. How useful do you think it would be to your program? Why or why not?
    Due 4/8/12 - 25pts
 
5.  After analyzing and evalulating the responses from the director interviews and carefully reading the course texts, develop a financial plan and an annual budget for your dream early childhood program.
~ Explain how the proposed budget supports the vision and mission you developed in week #1.
~ In addition to an annual budget, develop a quarterly budget which should include "conservative", "reasonable", and "blue sky" or ideal projections. 
~Develop a plan for tracking revenue and expenses and a schedule for reconciling revenues and expenditures with the annual budget, and define procedures and guidelines for amending the budget.
Due 4/29/12 - 150 pts
 
Week #4  Financial Records  
Assignments week #4:
1. Read The business of child care 
    Chapter 6 Financial Record Keeping

Week #5 Budget Analysis
Assignments week #5:
1. Read Management of child development centers
    Chapter 6, pp. 121-125 Record Keeping
2. Fourteen Steps to More Effective Cash Flow Management (Located in Doc Share)
           
Week #6 Policy and Procedures, Tuition, Salary and Benefits
Assignments week #6:
1. Read: The business of child care
Chapter 3, pp. 33-37 (staff wages & benefits)
2. Develop written policies and procedures for collection of tuition and fees.
3. Develop written salary scale, benefits package, and policies and procedures to administer benefits equitably and fairly.
 Due 4/22/12  50pts
 
Week #7 Marketing Plan & Public Relations
Lecture: Power Point taken from The ultimate child care marketing guide.
Assignments week #7:
1. Read: Management of child development centers
Chapter 14, Marketing and Public Relations
2. Write a marketing and public relations plan and describe how you will put it into action.
Be sure to connect this plan with your mission and vision.
Include:
~ Description of your target population
~ Strategies for families to learn about your program
~Key claim and key proof for your program
~ Recruitment strategies for new families
~A plan for involving all staff in public relations
3. Make a list of ten organizations that could be potential partners.
 Due 5/6/12   50pts
 
Week #8  Funding Resources
Assignments week #8:
1 Read: Mangement of child development centers
Chapter 2, pp.27-30 & Chapter 6, pp.105-108
 
2. Choose one of the following questions, write a thoughtful response, using text and related sources to support your response. 
Final Reflection Questions:
~ How do teacher salaries and benefits effect the quality of an early childhood program?
~ With many government budget cuts, funding sources for early childhood programs are limited.  Under these circumstances should more affordable (and hence more costly) programs be offered to fewer children and families? (Dexter, 2009, pg. 195)
 ~How can public relations efforts impact the role of early childhood education in our communities as a whole?
Due 5/13/12   50pts
 
 

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Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2011-2012 Undergraduate Catalog Page 93

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Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
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  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2011-2012 Undergraduate Catalog Page 96

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Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

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Last Updated:3/15/2012 4:23:21 PM