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ECE 326: Finance in Early Childhood Programs

Course Description

This course is designed for early childhood administrators or those preparing for an administrative position in an early care and education program. The course analyzes the principles of human resources and financial management including budgets and financial reports; quality programming and financial considerations; and raising revenue. The course helps develop a deeper understanding of the relationships between staffing and financing in the multiple aspects of a quality early childhood program. Both center-based administrators as well as family child care providers taking this course will learn how the finances of a program can influence decisions in all areas of programming.  (3 credits)

 

Prerequisite

  • ECE 250 Administration and Supervision in Early Childhood Programs or permission of instructor
  • Experience in an early childhood programming that includes program administration, staffing, and best practices in programs for young children.
  • Note:
    • Some assessments will require students to be currently employed by an early care and education setting and/or have access to the financial documents of the program.

Program Learning Outcomes (PLOs)

  • Associate of Science
    • Students who graduate with the Associate of Science degree in Early Childhood Education will meet the following outcomes for teacher preparedness.  At the Associate Degree level, students will:

      • Develop as a Professional- engage in continuous reflective and collaborative learning and identify oneself as an emerging professional within the early childhood field (NAEYC, Standard 7).
  • Bachelor of Science

    • Students who graduate with the Bachelor of Science degree in Early Childhood Education will meet all outcomes at the Associate Degree level.  In addition, students at this level will: 

      • Develop as a Professional- engage in continuous reflective and collaborative learning and identify oneself as a professional within the early childhood field by mentoring others (NAEYC, Standard 7).

 

Student Learning Outcomes (SLOs)

Upon successful completion of this course, students will be able to:

  1. Identify various management styles and examine how different characteristics and styles affect programming.
  2. Discuss the importance of quality early childhood programming and apply associated costs.
  3. Explain the difference between types of budgets (start-up, operating, projected). 
  4. Apply concepts and vocabulary to various financial documents and practices.
  5. Examine costs associated with staff recruitment and retention.
  6. Collect market information on tuition.
  7. Identify revenue resources.
  8. Analyze budget categories.
  9. Compare and contrast financial management principles and practices.
  10. Analyze program policies and procedures for their influence on program budgets.
  11. Prepare a line item budget.
  12. Identify and interpret several types of financial statements.
  13. Apply concepts of planning and budgeting when developing a projected budget.
  14. Identify and collect information that drives sound financial practices.
  15.  Identify and compare various funding sources.
  16. Illustrate financial concepts in preparing a projected budget.
  17. Evaluate and analyze a program and its costs and prepare a summary of findings and suggestions for any program improvements.
  18. Review a financial procedures plan (evaluate).
  19. Explore financial based software for early childhood programs.

 

General Education Outcomes (GEOs)

Please check the applicable GEOs for this course, if any, by outcomes at GEO Category Search, or by subject area at GEO Discipline Search.

 

Course Activities and Grading

AssignmentsWeight

Discussions (Weeks 1-8)

20%

Midterm Exam (Week 4)

10%

Individual Assignments (Weeks 1-8)

25%

Final Exam (Week 7)

20%

Final Project / Assessment (Week 8)

25%

Total

100%

Required Text

  • Jack, G., The Business of Child Care: Management and Financial Strategies. Delmar-Cengage, 2005.  ISBN: 13: 978-1-4018-5180-4
  • Exchange Press. The Art of Leadership: Managing Money in Early Childhood Organizations. Exchange Press, Inc. 2017 ISBN: ISBN: 978-0-9427-0263-7

 

Note: In addition to the two texts listed above, one of the following texts is required.  The student’s choice of text should be based on the type of the setting in which the student is working – either in a center-based facility or a family child care home.

  • Talan T.N. and Bloom, P.J., Program Administration Scale: Measuring Early Childhood  Leadership and Management, second edition. Teachers College Press, 2011. ISBN: 978-0-8077-5245-6   (PAS - for center-based care)

OR

  • Talan, T.N. and Bloom, P,J., Business Administration Scale for Family Child Care, second edition. Teachers College Press, 2018. ISBN: 978-0-8077-5939-  (BAS - for family home providers)

 

Additional Resources

  • Child Care Regulations (most recent revision) for the operation of a child care center or family day care home in the state where the student works/does business.

 

Course Schedule

 

Take the Pre-test / Survey before you start the work of the week.

 

WeekSLOsReadings and ExercisesAssignments

1

1,2,9,10

Topics:

  • Introduction to the course
  • Financial Management Principles and Practice
  • Quality Programs

Readings:

  • Jack: chapter 1, pp. 1 though 12
  • Exchange: pp. 6-11; 14-17; 18-22; 23-27; 28-29
  • (Exchange. optional – recommended: pp. 34-37; 38-44)
  • Tallan: PAS – pp. 1-9 / BAS 1-7
  • Take the Pre-Test/Survey (not graded) by Wednesday 11:59 PM
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Reflection Assignment
  • Submit Individual Assignments       
    • Using the PAS pp. 9-15 / BAS pp. 8-13

2

5,6

Topics:

  • Enrollment, Staff, Tuition
  • Enrollment - recruitment
  • Staff – recruitment and retention
  • Tuition – determining

Readings:

  • Jack: chapter 2, pp. 13-31
  • Jack: chapter 3, pp. 32-49
  • Exchange: pp. 46-50
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Reflection Assignment
  • Submit Individual Assignments       
    • Using the PAS – pp.16-27 /  BAS pp. 18-19
    • Market Analysis for Tuition                                 

3

3,4,7,8,10,14

Topics:

  • Financial Procedures Plan
  • Budget
  • The Budget Impacts (staff and family policies, child practices)

Readings:

  • Jack: chapter 4, pp. 50-71
  • Exchange: review pp. 18-33; pp. 46-64; 73-76
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Reflection Assignment
  • Submit Individual Assignments       
    • Using the PAS – pp. 32-59 / BAS – pp. 20-27
  • Analyzing the line item budget (Due Week 4)     

4

4,5,8,13,16,17

Topic:

  • Using the Budget

Readings:

  • Jack: chapter 5, pp. 72-100
  • Exchange: pp. 91-97
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Reflection Assignment
  • Submit Individual Assignment     
    • Budget Analyzing
  • Complete Midterm Exam

Midterm Exam

  1. Jack. Chapters 1, 2, 3, 4, 5
  2. Exchange. Chapters 1 and 2 (assigned readings only)
  3. associated lecture material

SLOs 1-10, 13, 14, 16, 17         

5

4,8,12,17

Topics:

  • Using the Budget
  • Financial Statements
  • Financial Record Keeping

Readings:

  • Jack: chapter review chapter 5; chapter 6, pp. 101-111
  • Exchange: pp. 65-72; 77-84
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Individual Assignments
    • Using the Budget
    • Financial Statements
    • Term Project - progress report

6

4,8,12,17,19

Topics:

  • Financial Statements
  • Financial Record Keeping
  • Technology

Readings:

  • Jack: chapter 6, pp. 111-119
  • Exchange: pp. 65-72
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Refection Assignment
  • Submit Individual Assignments
    • Begin program software review     
    • Financial Statements 
    • Using the Budget

7

4,6,12,14,17

Topics:

  • Financial Statements
  • Financial Record Keeping
  • Increasing Revenue

Readings:

  • Exchange: pp. 85-90; pp. 100-126
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Refection Assignment
  • Submit Individual Assignment
    • Technology Review 
  • Complete Final Exam

Final Exam

  1. Jack. Chapters 1-6
  2. Exchange. Chapters 1, 2, 3 (assigned readings only)
  3. associated lecture material

SLOs 1-19     

8

1-19

Topics:

  • Wrapping It all Up - Tying It All Together
  • Increasing Revenue

Readings:

  • Jack: chapter 7
  • Exchange: pp. 127-139
  • Read assigned chapters
  • Participate in the Discussions
  • Review the Lecture material
  • Submit Reflection Assignment
  • Submit Term Project - Program Analysis
  • Take Post-Test / Survey
  • Complete Course Evaluation

COSC Accessibility Statement

Charter Oak State College encourages students with disabilities, including non-visible disabilities such as chronic diseases, learning disabilities, head injury, attention deficit/hyperactive disorder, or psychiatric disabilities, to discuss appropriate accommodations with the Office of Accessibility Services at OAS@charteroak.edu.

COSC Policies, Course Policies, Academic Support Services and Resources

Students are responsible for knowing all Charter Oak State College (COSC) institutional policies, course-specific policies, procedures, and available academic support services and resources. Please see COSC Policies for COSC institutional policies, and see also specific policies related to this course. See COSC Resources for information regarding available academic support services and resources.