Provider calculates cost of care, has goals for her own compensation, and uses both to set tuition rates.

To meet this Standard, the provider MUST submit:

• Cost of care calculation that includes ALL of the following:
• Income goal.
• Estimated expenses.
• Weekly child care rate depending on number of children to be served.
• Determination of tuition rates that align with the cost of care calculation.

Acceptable type(s) of evidence include:

• Cost of care calculation sheet or printout.

Attention:

• A copy of the program's budget is not sufficient; evidence MUST include cost of care calculations.
You can find information on cost of care calculations as an additional resource in the Family Child Care Interactive Standards for FAS 6 on the QUALITYstarsNY website: https://earlychildhoodny.org/qualitystarsny/standardsguide/std.php?std=930 and access the "How to Set your Rates" resources under "Further Reading".

Having an accurate understanding of the cost of care, including compensation for the provider and any assistant(s) is important for the small business, family child care home. Using this information effectively will help providers plan for the future and stay in business.