Bec doms financial management
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This document discusses various financial management concepts for school meal programs including: 1) Meals must be counted accurately to receive reimbursement and meal counts are reported by category. 2) Adult meals are not eligible for reimbursement or commodity assistance. Revenue from adult meals cannot subsidize program meals. 3) Proper internal controls and daily edit checks are important to ensure accurate meal counts and prevent theft. 4) Labor, food, and other costs should fall within standard percentages of total expenditures.
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Bec doms financial management
- 13. Meals Per labor Hour Current meal equivalents ____________________ Total labor hours worked = Meals per labor hour
- 23. CNP “Money” Pie Labor 42-46% Food 30-34% Other 20-28%
Editor's Notes
- There are several key words in this definition: Point of service: Where the cashier verifies the information Reimbursable meal: Has all of the necessary components Eligible students: Have application on file to verify status School System can only be reimbursed if these conditions are met. Auditors will check for these and it could affect prior claims for reimbursement. Reimbursement is part of the revenue you generate in the CNP program.
- The best way to prevent theft is to eliminate the opportunity for stealing. It is best if the manager not serve as cahier.
- If you are not automated, the directions for doing this are in the Managers Guide. Note to trainer: If you are training private schools or RCCI go over the procedure step by step.
- There is a reimbursement for all students. The rate is set by USDA. Adults must pay for meals Only one meal per child is reimbursable, extra meals are at full price as well as components they may purchase.
- Add all of the equivalents for the day. Add the total hours worked during the day for all staff. Be sure to include part time staff, volunteers, anyone who worked at that site. When participation increases… meal equivalents increases and meals per labor hour increases What happens when a la carte sales increases…meal equivalents increases and meals per labor hour increases. What happens when total hours worked decreases…meals per labor hour increases.
- Labor cost include salary and fringe benefits. Add these together for all staff and divide that by the total expenditures for all goods and services.
- From this example students are not eating lunch. What happens to revenue if participation is increased? Goes up What happens to meal equivalents? Goes up What happens to Meals per labor hour? Goes up How can you increase participation? That is what we are going to talk about next. Marketing is very important topic if you have low participation. Because your financial status depends on the number of students you serve.