Deck 6: Fiscal Management

Question 1

What view does the National Association for the Education of Young Children NAEYC) take regarding good financial policy?

A)It should always be secondary to staff training.
B)It is a good thing to have, but not really necessary.
C)It is essential to gain NAEYC accreditation.
D)NAEYC has no position on this issue.

Answer 1

C

Question 2

An "RFP":

A)is a request for personnel to work in a center.
B)announces grants and solicits applications for them.
C)revises formal procedures.
D)recommends financial policies.

Answer 2

B

Question 3

As of 1997, family child-care providers earned more than parking lot attendants.

Answer 3

False

Question 4

What are two sources of assistance in starting up and operating a center?

Question 5

A marketing plan is:

A)a shopping list of all the equipment the center needs to purchase.
B)a publicity campaign that highlights the best aspects of the center.
C)a way of satisfying some states' licensing requirements..
D)a description of the potential pool of customers, competitors, and ways to attract customers.

Question 6

What does "MESH" stand for?

Question 7

What is a cash-flow analysis?

Question 8

Why is childcare generally more expensive for toddlers than for older children?

A)More caregivers are required.
B)The caregivers need higher credentials.
C)The cost of equipment is higher.
D)Licensing fees are higher.

Question 9

The federal government contributes approximately what percent of the total cost of childcare?

A)60
B)19
C)90
D)39

Question 10

What are four questions a program director should ask before purchasing a software program to manage center finances?

Question 11

On average, poor families pay a larger share of their income for child care than rich families.

Question 12

A financial decision about matters that arise frequently and so do not have to be considered individually is what kind of decision: programmed or nonprogrammed?

Question 13

What is a budget?

Question 14

List three possible sources of income for a center.

Question 15

"Fiscal management" means:

A)subject to scrutiny by several sources.
B)having a tender heart for giving children loving care.
C)effectively handling the financial aspects of a child-care center.
D)keeping the facilities clean and safe.

Question 16

Which of the following is NOT an acceptable way to balance the year's budget?

A)Increase income.
B)Cut costs.
C)Increase income and cut costs.
D)Borrow from the next year's budget.

Question 17

If you want to find out what fees most child-care centers in your area are charging, what are two resources that you could consult?

Question 18

The TEACH Early Childhood Scholarship project resulted in lower rates of turnover for those taking part in it.

Question 19

Most child-care centers are able to spend as much money as needed to create a high-quality program.

Question 20

What is generally the most costly item in a center's budget?

A)Supplies and services
B)Profit
C)Building occupancy
D)Personnel costs