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Lots of Tender Loving Care, LLC Budget Meeting October 2008

Lots of Tender Loving Care, LLC Budget Meeting October 2008. Tina Rogers Faith Trimble. Reach top of the industry child care quality: 2006 Goals. Reach Financial Stability & Transparency: 2006 Goals. Distribution of Expenses. Wages & Benefits 2008.

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Lots of Tender Loving Care, LLC Budget Meeting October 2008

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  1. Lots of Tender Loving Care, LLCBudget MeetingOctober 2008 Tina Rogers Faith Trimble

  2. Reach top of the industry child care quality: 2006 Goals

  3. Reach Financial Stability & Transparency: 2006 Goals

  4. Distribution of Expenses

  5. Wages & Benefits2008

  6. Proposed rate increase for all classes: 3% or 4% Kindergarten rate increase 30% effective July 1, 2009 Minimum wage increase of .48 cents Staff receive COL/performance increases Add “sub” staff person Medical benefits increase (assume 22%) Business transitions to non-profit status; applies for 501c3 tax exempt status Independent audit to be conducted New equipment to be purchased w/o grant funds Grocery/supplies increase (assume 8%) Additional training provided to director/staff to meet goals Budget Highlights

  7. Rate Comparisons (assuming 4% increase)

  8. 3% increase: $255 average cash flow/month 4% increase: $710 average cash flow/month 3% vs 4%

  9. Other Options to Consider • Registration fees increase • Annual fees increase • Rate increases variable by class room • Grant funding • Legislative changes • Policy changes (no meals, no wipes, etc)

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