A center should have a financial plan that includes ___.

A center should have a financial plan that includes ___.
 
  a. policies
  b. procedures
  c. both policies and procedures
  d. neither policies nor procedures

Question 2

The cost per child of operating a center can be determined by ___.
 
  a. dividing the cost of the staff, equipment, and supplies for each classroom by the number of children in that class
  b. figuring the total tuition per child for one year
  c. dividing the total cost of running the center by the number of children enrolled
  d. dividing the total amount of income by the number of children enrolled

Question 3

A center that has been in operation for five years needs ___.
 
  a. only a long-range financial plan that includes a 10 year projection on revenue growth
  b. only an operating budget for the upcoming year
  c. both a long-range financial plan as well as a plan for the upcoming year
  d. a 6-month operating budget because enrollment changes so drastically during summer months and holidays and a budget is difficult to anticipate

Question 4

The two major components of a financial plan are ___.
 
  a. start-up and operating budget
  b. salaries and equipment
  c. insurance and rent
  d. a system for managing financial resources and obtaining adequate funding

Question 5

When a center budgets by functions, ____.
 
  a. the directors time must be allocated to the function of administration
  b. the directors time will be allocated based on the type of work being done
  c. emphasis is on the quality of the programs functioning
  d. all of the above

Question 6

The largest percentage of the budget for a child care center is allocated to ___.
 
  a. tuition
  b. salaries
  c. equipment
  d. building costs (i.e., rent, insurance)

Question 7

Which of the following is NOT one of the planning reports used to gauge whether or not a center is meeting budgetary projections?
 
  a. cash flow report
  b. end-of the-year report
  c. variance report
  d. beginning-of-the-year report

Question 8

According to your text, the mean annual salary for preschool teachers is
 
  a. 22,000
  b. 32,000
  c. 42,000
  d. 52,000

Question 9

The largest cost in the physical plant category is ___.
 
  a. rental, lease, or mortgage
  b. utilities (i.e., heat, electric, water)
  c. maintenance
  d. childrens furniture