3.2 Budgeting in Childcare

When creating a sustainable budget for childcare operations, it is important to plan for every day and consider strategies for anticipating and managing unexpected expenses. Due to limited funding, fee caps, or unexpected expenses, getting creative with budgets is sometimes necessary. The hope is that you are in the black, not the red! 

Ideally, bringing in stakeholders such as families, children and staff to have input on how funds are spent in the centre is a great way to understand stakeholders' priorities. It also allows ECE educators to feel heard and have input on how the centre is run. 

Funds to run a childcare centre are made up of the funding models outlined in 3.1,  parent fees, and may also include external grants and fundraising. Keeping track of incoming funding streams and ensuring they align with operating costs is critical.