Provider records income and expenses at least monthly and reviews income and expense statements, comparing actual revenues and expenses to budget quarterly.

To meet this Standard, the provider MUST submit:

• Copies of quarterly financial reports; MUST compare actual and projected income and expenses.
• If program operates more than 9 months per year: submit 4 quarterly financial reports; Otherwise, submit 3 quarterly financial reports.

Attention:

• Uploaded evidence MUST be dated within the 15 months prior to Standards Inventory submission (MUST include full date: month, day, year).
A written statement OR letter from a financial institution summarizing their financial review is not sufficient; detailed financial reports MUST be submitted.

Providers should be aware of current financial resources and expenses, in order to remain a viable business and service for families. Regular analysis of the family child care business income and expenses will help providers adjust fees, pay assistant(s), and provide materials and experiences for the children’s learning environment.