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To create a sample program personnel budget and to evaluate your budget. (A sample, using the 2018 published market rates, has been attached to guide you in the process). The 2022 published market rates are attached below.
You are the director of a small center, Child Time, and forecasting for your upcoming year. Your program will have three classrooms open, each projecting to be full: two toddler rooms of 8 children (in each classroom) and a preschool room of 18. All three rooms will need two teachers for the entire hours of operation, 8:00 am to 6:00 pm. Teachers can work no more than eight hours daily, meaning you will need additional coverage during the day in each room. You need to create an annual budget that considers the expenses of six teachers plus yourself (adding a line to include 25% for fringe benefits to base salaries) to the income generated by tuition. Your goal is to keep the percentage of your budget spent on personnel at 75% or below.
Focus Assignment:
Create a spreadsheet to calculate the average hourly rate you can pay all your teachers, assistants, and yourself, which includes the percentage of total income you are spending on the payroll. Your spreadsheet must have a separate line for each person represented in the scenario. In other words, you can not lump the calculations into one line that says, teacher or teacher assistants. Refer to the attached example for guidance. This spreadsheet also needs to include what you charge for tuition for each age group.
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