Essay on Benefits Of A New Daycare Center

Essay on Benefits Of A New Daycare Center

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In general, the first operational year of any business can be stressful and a bit perplexing. In most circumstances, the first year for any new daycare center will be a period of low enrollment. Yet, we can see that the budget plan had not taken into consideration any potential loss in the income that might happen. Though, according to the lost-income scenario, the center facing a significant loss in the income about 44,740$ less than the anticipated income, which causing a budget deficit about 18,452$ less than the anticipated spending. Eventually, this shortage in the income would certainly have a significant effect on the cash flow for the rest of the year. Indeed, if the administrator does not make any changes to the anticipated spending that would certainly cause a significant negative impact on the program quality and to some extent to its survival. As for how the administrator of this daycare can reconcile her budget; apparently, when expenses exceed incomes, there are three alternatives can be approached, increase income, reduce expenses, or a combination of the two. However, there is no easy way to cut the day care budget and maintain a balanced cash flow, yet prioritizing is a better way of dealing with scarcity. Also, it’s extremely important to keep in mind that maintaining our program long term goals and high quality are vital keys for success. I believe that, maintaining a monthly cash flow analysis is an essential tool by which we can track the rate of expenditures versus the incomes which help us to better understand financial issues and can reveal what course of actions can be taken. As we can see, expenses include both items that cannot change and others that can be changed. Look at each of the expenses that are ...

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... in the income that might happen, in other words “Hope for the best and plan for the worst”. From this case study I have learned that there is no budget is ever perfect. Revisions are sometimes necessary and need not wait until you are in a serious financial crisis. Careful monitoring and fine tune adjustments will be necessary, particularly during the first year of operation. There will be many hard decisions to be taken, yet in making these difficult choices, the program mission and long-range goals must be taken in consideration. A high percentage cut in any one line item in the budget’s expenditures generally will have a very serious impact on the program quality. On the other hand, higher expensive areas that can be cut by a small percentage generally will have only a minimal impact, yet can save much more than cutting higher percentage from less expensive areas.

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