Are you Happy for Competitors to Know Your Service’s Financial Details?

The Ministry of Education has asked services to provide detailed financial information for sharing with persons, who are part of services that may currently be or could in the future be direct competitors (including the CFO of Kindercare Learning Centres, a New Shoots Children’s Centre owner, the treasurer of the Early Childhood Council business lobby).  

The Ministry’s survey asks for dollar amounts on fees and other charges parents paid, what you received from the MSD and other government departments, details of employees’ wages/ salaries paid, and the total sum of other service expenses.  It wants this for the period of 1 July 2020 – 30 June 2021 (this creates extra work and cost for services who have a different financial year). 

Did you know? 

1. Ministry staff could instead do their own analysis of ECE service annual audited accounts that they already have.
2. A lot of money has already been spent on an ECE Remuneration Survey that the Ministry commissioned in mid-2020. Services have already done their bit in submitting data.  
3. Setting up an advisory group without letting the whole early childhood sector know, is another sign that the Ministry is doing what it can to delay or make the implementation of full pay parity for qualified and certificated ECE teachers a lot harder and a lot more expensive than it need be. 

Completing the survey on your service’s revenue and spending is optional.  If you have already submitted your financial information, you have a right to withdraw it.

Groups represented on the Ministry’s private funding advisory committee are as follows.  The Ministry is paying for airfares, travel and costs associated with attending meetings.