Deck 6: Fiscal Management

Question 1

The federal government contributes approximately what percent of the total cost of childcare?

A)69
B)19
C)89
D)39

Answer 1

B

Question 2

Getting a grant is a quick and easy way to get funds for a childcare facility

Answer 2

False

Question 3

What view does the National Association for the Education of Young Children (NAEYC)take regarding good financial policy?

A)It should always be secondary to staff training.
B)It is a good thing to have,but not really necessary.
C)It is essential to gain NAEYC accreditation.
D)NAEYC has no position on this issue.

Answer 3

C

Question 4

"Fiscal management" means:

A)being subject to scrutiny by several sources.
B)having a tender heart for giving children loving care.
C)effectively handling the financial aspects of a child-care center.
D)keeping the facilities clean and safe.

Question 5

Most child-care centers are able to spend as much money as needed to create a high-quality program.

Question 6

What is generally the most costly item in a center's budget?

A)supplies and services
B)profit
C)building occupancy
D)personnel costs

Question 7

What should be factors in setting fees to attend a childcare center?

A)average fees for other area centers.
B)the cost of providing services.
C)the ability of the target group of parents to pay
D)all of the above.

Question 8

As of 2013,family child-care providers earned more than parking lot attendants.

Question 9

To receive the TEACH Early Childhood Scholarship stipends,individuals have to promise to stay in the field of child care.

Question 10

There is a correlation between what a center charges for child care services and the quality of those services.

Question 11

Why is childcare generally more expensive for toddlers than for older children?

A)More caregivers are required
B)The caregivers need higher credentials
C)The cost of equipment is higher
D)Licensing fees are higher

Question 12

An "RFP":

A)is a request for personnel to work in a center.
B)announces grants and solicits applications for them.
C)revises formal procedures.
D)recommends financial policies.

Question 13

Which of the following is NOT an acceptable way to balance the year's budget?

A)Increase income
B)Cut costs
C)Increase income and cut costs
D)Borrow from the next year's budget