Program Budget Use Policy
PROGRAM BUDGET USE POLICY
Our Reason for Providing Monthly Budgets
At TOPP KIDS, we believe in maintaining transparency and accountability in our financial practices. Providing monthly budgets allows us to effectively manage our expenses and ensure that funds are allocated appropriately to meet the needs of our programs and services. It also enables us to make informed decisions and prioritize resources for the best interest of the children under our care.
We strongly believe that funds need to be available to enhance quality programming and ensure programs have the resources they need for day-to-day expenses.
How Budgets are Determined
Budgets at TOPP KIDS are determined based on a comprehensive assessment of our operational requirements, program needs, and anticipated expenses. We take into consideration factors such as the number of children and staff at each program, supplies, events, and other costs. Additionally, we regularly review our financial performance to ensure that budgets are realistic, achievable, and in alignment with our organization’s objectives.
Our focus is not to spoil participants, but to utilize the funds to enhance their experience while participating our programs and to promote quality.
Credit Card Spending Period
All credit card spending at TOPP KIDS is limited to essential purchases for the organization’s operations. Credit cards are used responsibly and only by authorized personnel. The billing cycle for credit card usage will be monthly, and detailed expense reports will be submitted in Month End Packages that go to the Finance Department for review and record- keeping.
The typical spending period is between the 1st and 25th of each month. Any purchasing made following the 25th of each month will be spent from the next months allocated float.
Acceptable Expenses and Vendors
Acceptable expenses at TOPP KIDS include but are not limited to:
- Educational materials and resources
- Facility maintenance and improvements
- Supplies for daily operations
- Supplies for restocking core materials
- Groceries for emergency snacks and cooking clubs
- Field Trip Expenses
- Staff Promotional Spending & Team Building (upon approval) (see below)
We will prioritize working with reputable and source cost-effective vendors to ensure the best value for our budget.
Unacceptable Expenses & Vendors
TOPP KIDS will not approve expenses related to:
- Personal purchases or non-essential items
- Fuel
- Gifts for staff or families, unless for approved events
- Gift Cards
- Alcohol
- Any expenditure that violates local laws and regulations
- Vendors with questionable reputations or unethical practices
- Any single item over $100.00 (must have approval)
Staff Promotional Spending
Staff members are not permitted to use TOPP KIDS funds for personal promotional materials or services unless explicitly approved by the management for the benefit of the organization.
As per our Celebrations Policy, $4.00 per employee per month may be spent out of the monthly budget for Staff Promotional Spending or Team Building
Event Budgets
For events organized by TOPP KIDS, specific budgets will be allocated based on the number of children attending the program, the event’s scale, and purpose. Event organizers must adhere to the approved budget and submit event expense requests for approval and report through the Month End Form after the event concludes complete with all receipts.
Money From Families
TOPP KIDS may collect funds from families for specific events, field trips, Kids Choice Fund, or other extra-curricular activities to subsidize the cost of an event. These funds will be managed transparently and used solely for the intended purpose. A detailed Petty Cash record of what is received must be maintained, and any unused funds will be returned to the respective families. Petty Cash records will be submitted with the cash in the Month End document.
All cash will be delivered to the Accounts Manager with the Month End Package for deposit and the equal amount will be added to the programs credit card or to the donation of their choice.
Programs will not use cash to purchase tickets, materials, or services.
Donations
TOPP KIDS welcomes and appreciates donations from individuals, businesses, or organizations. All donated funds and items will be used responsibly and directed towards enhancing the quality of our programs and services. Donors will be acknowledged and provided with the necessary documentation for tax purposes.
If a program collects funds for donations, all funds will be processed and paid through the CFO and Accounts department.
By adhering to this budget use policy, TOPP KIDS aims to maintain financial integrity and ensure that resources are utilized efficiently to support the growth and well-being of the children in our care.