Magnolia Blossom Projected Budget 20/21
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Magnolia Blossom Expansion :: Budget Estimates :: Annual/Monthly Operation Costs
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Context : New School Start Up Funding
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New School Grants $50,000.00Grants: Fundraised and allocated by Magnolia Montessori. Grants are allocated for school start-up expenses/losses and managed by local Teacher Leader (TL) team.
Loans: Provided by The Wildflower Foundation (WF) nationally. Loans are allocated for school start-up expenses/losses and managed by local Teacher Leader (TL) team.
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Wildflower Loans$50,000.00
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Total Startup Funding
$100,000.00
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AnnualMonthlyAssumptions:
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INCOMEContext: Income
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Direct Public Support $ 14,400.00 $ 1,200.00 4,800 (based on 12 family numbers)Direct Public Support includes donations to Magnolia Blossoms scholarship and Voluntary Equitable Tuition Program, and is based on previous numbers. Estimate is based on projections from a 12 family school.
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Program Income - Tuition $ 230,400.00 $ 19,200.00 (Toddler-9800.00 yr/Primary-9500.00yr)
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CCAP Tuition $ 65,920.00 $ 5,493.33
Rate for CCAP Reimbursement
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Other (Fees, Sales, Misc)Possible aftercare program, additional 1,850.00/yr
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Total INCOME $ 310,720.00 $ 25,893.33
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Context: Teacher Salary/hourly Payroll costs
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STAFFThis number assumes 3 Teacher-Leaders on Salary at $30,000/yr amount per year, and 2 hourly staff members making $15.00 per hour, 30 hours per week ($12,857), 1 at 40 hours per week ($17,142). Employees get 5 sick days, paid out at the end of the year if not used ($1,500). Staff child tuition is discounted at 50%. Sub budget set for 5 sick days for each staff member, paid at $15/hr.
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Salaried Teachers-$90,000.00-$7,500.003 Salaried Teachers
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Hourly Staff Payroll Costs-$44,355.00-$3,696.25
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Benefits for Salaried Teachers (health insurance, etc)-$9,000.00-$750.00Matching Health Insurance funds for 3 TLs
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Contract teachers (subs, art/music teachers)-$3,300.00-$275.00
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Montessori Teacher Training-$10,000.00-$833.33
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Payroll Service & Taxes-$720.00-$60.00
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Professional Development/Conferences-$3,360.00-$280.00
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Staff Child Discounted Tuition-$4,900.00-$408.33
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Total Staff Costs-$165,635.00-$13,802.92
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FACILITY
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Rent-$48,000.00-$4,000.00
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Building Insurance
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Repair & Maintenance-$1,800.00-$150.00
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Property Taxes$0.00$0.00
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Utilities-$4,800.00-$400.00
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Total Facility Costs-$54,600.00-$4,550.00
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ADMIN/OFFICE
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Classroom
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Ed Materials & Supplies-$4,000.00-$333.33
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Snack Cost-$4,400.00-$366.67
Reimbursement for snack cost
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Handbook & Welcome Packages$0.00$0.00Paperless
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Research$0.00$0.00
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Office
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Phone-$2,160.00-$180.00Cell Reimbursement for Salaried staff: $180
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Internet-$840.00-$70.00
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Office Supplies & Equipment-$1,800.00-$150.00
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Stationery & Printing & Postage-$100.00-$8.33
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Cleaning and Supplies-$240.00-$20.00
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Transparent Classroom$0.00$0.00Paid for by WF
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Web/Email Hosting & Software-$480.00-$40.00Weebly
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Bookkeeping/Accounting/Bank Fees-$3,600.00-$300.00
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Total Admin Expenses-$17,620.00-$1,468.33
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ONGOING
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Professional Memberships & Subscriptions-$250.00-$20.83
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Marketing/Info Sessions/Admissions-$450.00-$37.50
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Parent Education Events-$800.00-$66.67
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Licensing & Insurance-$890.00-$74.20
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Endowment Contribution$0.00$0.00
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Contingencies 10%-$31,072.00-$2,589.33
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Loan Repayment -$7,660.44-$638.37
WF Loan repayment: 7yrs at 2%
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TAXES
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Social Security Matching-$8,330.01-$694.17
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Medicare Matching-$1,948.15-$162.35
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Total Ongoing Expenses-$51,400.60-$4,283.42
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Total INCOME$310,720.00$25,893.33
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TOTAL YEARLY EXPENSES-$289,255.60-$24,104.67
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SURPLUS/DEFICIT$21,464.40$1,788.67
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