Early Childhood Education Fiscal Hub

“HOLY COW! The information is sooo digestible, easy to understand and very, very informative...Your work is a significant support to programs that often operate in the dark, trying to make good decisions without good comparative data.”

 

Developed in 2017, the Early Childhood Education Fiscal Hub (Fiscal Hub) focuses on improving the financial stability of child care programs. The Fiscal Hub helps child care owners and directors improve their business management practices and financial operations through resources, technical assistance, and policy advancement. Partners include PHMC, Reinvestment Fund, CoMetrics, and Children’s Village. PHMC thanks the Vanguard’s Strong Start for Kids™ and the William Penn Foundation for funding this and other initiatives designed to strengthen the ECE sector and increase positive outcomes.

Supports include:

  • a standard chart of accounts to help standardize budgeting practices of providers,
  • a proposed set of ECE industry standards, which includes metrics and suggested targets that help providers track financial performance and make more informed business decisions,
  • an online tool that helps providers understand their financial data and how their performance compares to peers,
  • tiered technical assistance to improve budgeting and reporting practices, analyze financial and programmatic data, and use the online tool to improve business practices.

Impact

Owners/directors: 

  • meet Keystone STARS 3 and 4 Performance Standards (LM.3.4.7 and LM.3.4.11). CLICK HERE to learn more how Fiscal Hub meets STARS standards. 
  • begin to understand how making data-driven decisions can affect their bottom line while improving their quality, 
  • understand their cost of care by age level, 
  • learn how to organize their financial data to save time and money, 
  • understand how their business is doing in comparison to others,
  • learn foundational budgeting terms, practices, and procedures and how to implement accounting software within their program.

CLICK HERE to hear from Fiscal Hub participant, Leslie Spina, Executive Director at Kinder Academy 

Eligibility

  • must have at least one location in Philadelphia
  • any Keystone STAR level
  • any program type (family, group, center)
  • any business type (nonprofit, for-profit) 

Getting started

If you are interested in accessing Fiscal Hub supports including technical assistance, CLICK HERE to complete a short survey (8 to 10 minutes) that is designed to understand your business practices and financial needs.  

Resources

Reports

Tools

For more information 

Email us at FiscalHub@phmc.org.