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19 terms

Planning A Budget

STUDY
PLAY
tuition
a fee paid for instruction (especially for higher education)
budget
a plan for spending money
Sponsor
an advocate who presents a person (as for an award or a degree or an introduction etc.)
Voucher
a document that serves as evidence of some expenditure
For-profit programs
usually privately owned centers and are operated to make a profit for the owners
not-for-profit programs
legally organized to operate without making a profit
in-kind support
refers to items or services you recieve from another source without having to pay for them
tax-exempt
not subject to taxes
co-pay
the amount of money the patient has to pay that the insurance company will not pay
matching grant
Money given by the federal government to lower levels of government to fulfill certain functions requiring that the recipients have their own money and meet certain federal standards for the program
start up costs
the expenses a firm must pay before it can begin to produce and sell goods
fiscal year
The period from Oct. 1 to Sept. 30 for which government appropriations are made and federal books are kept.
audit
an inspection of the accounting procedures and records by a trained accountant or CPA
fixed expenditures
Expenses you do not have control over month to month.
variable expenditures
expenditure over which you have control. You are not obligated to make that expenditure, it may vary from month to month.
optional expenditures
expenditures for nonessential items or services
cost coding
identifying each major budget category with a number code
cost-per-child analysis
gives you a clearer view of your financial health. Done by looking at each main age group in your center.
break-even point
The point at which sales revenue equals the costs and expenses of making and distributing a product.