Lots of Tender Loving Care, LLC Budget Meeting October 2008. Tina Rogers Faith Trimble. Reach top of the industry child care quality: 2006 Goals. Reach Financial Stability & Transparency: 2006 Goals. Distribution of Expenses. Wages & Benefits 2008.
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Lots of Tender Loving Care, LLCBudget MeetingOctober 2008
Proposed rate increase for all classes: 3% or 4%
Kindergarten rate increase 30% effective July 1, 2009
Minimum wage increase of .48 cents
Staff receive COL/performance increases
Add “sub” staff person
Medical benefits increase (assume 22%)
Business transitions to non-profit status; applies for 501c3 tax exempt status
Independent audit to be conducted
New equipment to be purchased w/o grant funds
Grocery/supplies increase (assume 8%)
Additional training provided to director/staff to meet goals
3% increase: $255 average cash flow/month
4% increase: $710 average cash flow/month