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I have decided that I will offer funding next year as I don't want to lose my full timer when he turns three.
As for most of us, the funding is lower than my hourly rate, so I will need to increase my fees a bit for this parent.
How do you go about it? Are you honest and tell the parents why you are doing it?
Maza do you mean your hourly rate for non funded hours?
To be honest I just charge my normal rate and take the loss. Our LA are so strict around funding, we have to do so much when we first sign the funding agreement its a real pain and they have restrictions in place about what we can and can't do. Some childminders in my area have a' consumables' charge to help claw some money back.
I'd only offer for a well-established family to keep them on past 3. I am completely honest and all have been fine about it. I charge a higher rate for the additional hours they use, equal to the loss. Or, if they do not use any additional hours, I'd charge an additional voluntary fee for 'resources and food'. My families are just grateful I'd do it. They know I do not have to. I would not take a loss. I fill places easily, so would rather let the child go if parent refused to pay the extra, and take on a new baby.
Moggy you are very lucky that you can fill your spaces so easily, sadly my area is so quiet at the moment. I am the only childminder in my village, others have come and gone over the years but due to lack of business they soon stop. I am lucky as lots of people recommend me as I am known around the village and the local school but I have had vacancies now for a while too.Quote:
Originally Posted by moggy
I generally only offer a funded place for a child/ family who are already with me. I only offer the universal hours and only for school hours/ less hours than they use. I then charge a "session fee" for the other hours. This is made up of their usual hourly fee and the difference between the funding and my hourly fee.
All parents understand and are happy to pay a 'session fee' as they are paying less overall, and the 'session fee' includes all meals/ snacks etc.
I have to 'make it clear' in my invoices to parents that the funded place is offered totally 'FREE', so on my invoices it says 'Funded session' £0.00. 'Session Fee' £X.XX
I am possibly considering offering the extended hours for one child, and Mum is happy to pay a session fee if we go ahead, as that will be less than paying my usual fee!
Yes Pixie. For the 15 hours my LA pays £4.03 per hour, and that is less than I charge per hour. I don't want to take a loss if I can help it.Quote:
Originally Posted by Pixie dust
I offer the 15 and 30 hours funding, although the 30 hours is usually stretched over the year at 24 hours a week.
The rate the LA pays is 57p an hour less than I charge. On the 30 hours, that's over £650 a year I'd be losing out on for 1 child. I don't see why I should be that much down just so parents can save money!
I charge 55p an hour for funded hours to cover "consumables". That includes food, drinks, nappies, wipes etc.
I offer 15 hours. Am quite new to it as you know and so far going well.
That's good to know Dragonfly.Quote:
Originally Posted by Dragonfly
What is confusing me is that it is only funded for 38 weeks of the year, and not all of the weeks. It is so complicated and my brain just doesn't understand those sorts of things.
Not school holidays Maza