Financial Management and Record Keeping

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Funding tick for early childhood centres and services in NZ

Funding Rates and Grants

Funding rates per child per hour for different service types are shown below, along with different grants that ECE services may receive or apply for.   There is information on financial assistance available for families and donation tax credit. Should your […]

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regulations licensing criteria regulation compliance and complaints

What Records to Retain and How Long

Retention of Records: What’s Required by the Ministry and Various Agencies, including IRD and the Charities Commission. Issues of safety, privacy, and storage. Early childhood service reports and records should always be kept in a safe place and not in […]

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shopping room

How Services Aim to Improve their Financial Outlook

Financial Improvement of ECE Services Following Covid-19 Lockdowns. On this page you can find out what centres and home-based services are doing in respect of: fees,staffing,ways that they are cutting back on spending (or not),marketing approaches and new markets being […]

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Early childhood education financial and money matters

Maximising 20-Hours ECE Funding Around Public Holidays

20-Hours ECE Changes. When a service is closed for statutory holidays and is not providing care for children it does not receive funding. Unfortunately this can mean a loss of income for a service, which is difficult especially when there […]

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parent drop off child at preschool or kindy

Charging Parents for Late Pick-ups and Early Drop-offs

Late Fee. Should you charge a late fee for late collection of children?  Or charge the parents of children who arrive early? Some early childhood services ‘fine’ parents to try to deter them from leaving their child outside of hours that […]

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scales balance Montessori equipment

Funding Claim Audits and Record Keeping Audits

Preparing for a Funding Claim Audit. Purpose  The general purpose of a visiting audit from the Ministry of Education is to: Verify that the service is claiming and receiving the correct amount of MoE funding,Verify that a service is meeting […]

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closed early childhood centre

Charging Fees When Closed for a Public Holiday

Charging Fees When Closed. We asked ECE Service providers about their practices of charging fees when closed. A selection of comments is provided below. Add your comment on this topic and reply to any of the comments posted here. See […]

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Creating Financial Reserves

ECE Service Financial Reserves. The Ministry of Education does not mind if a service builds up financial reserves. It will not affect funding.  Non-profit services can however face a dilemma – should they be spend the money earnt or build […]

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presenting work

Glossary of Financial and Accounting Terms

Accounting and Financial Terms Explained for ECE Service Providers. Accounts Receivable or Accounts Payable:   See “Ledger” below. Accounting Reports:  See definitions below for each of: Balance Sheet – same as Statement of Financial PositionCash flow reportFlow of Funds   Income and Expenditure […]

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Job Interview ECE Teacher.

Establishing Good Internal Financial Control and Preventing Fraud

Early Childhood Service Internal Financial Control Systems. By Bevin Fitzsimons. Why internal control?  Internal control systems are normal in business and society and will be expected of you by your staff, fellow owners, parents, board members, bankers and financiers.They help […]

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child with binoculars looking out

Financial Sustainability

Early Childhood Service Financial Sustainability. Unless as much or more money is coming in than is going out, your service could come to be at risk. Here are some strategies for financial sustainability and increasing your revenue stream when necessary. […]

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money loss

Arrears in Fees: Managing the WINZ Childcare Subsidy

Managing arrears in fees can be a headache for service providers, and especially when parents are on the WINZ subsidy. Several centre and home-based service providers have mentioned a problem they have when parents who are receiving a WINZ subsidy […]

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toy loud noise learning baby

Fee Bargaining – When Parents From Other Cultures Want to Bargain

Parents Wishing to Bargain Over Childcare Fees. Do you find some parents who are used to bargaining in their own countries are less accepting of price increases and accepting set prices? Are you cautious when increasing fees or other charges […]

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