Flat Rate Question

[Country Kids]

I may have just pinned down what I want my rates to be if I go for flat rate. Now the big question-what do you do when you take a sick day, holiday, vacatioin, or need to close early for appt.? Do you figure out what each person pays you daily (wouldn't that change every month because of different amount of days in a month)?

I know alot of you never take time off but I had to take 5-7 sick days off this year so far! Believe you me not what I was wanting to do. I just don't want to have to figure out how much I will owe everyone back if I get sick or want time off.

[Breezy]

I charge $140 for my full time rate. That ends up being $28 per day so if I have to close for sickness they deduct $28 from the next weeks payment.

[MN Day Mom]

The only time I don't get paid is if I am sick. Then they can deduct 1/5 of their weekly rate for each day I am closed.

I love the flat rate system. Gives me control and consistency with my income.

[cheerfuldom]

I charge the same flat rate no matter if I have to close or not. I get paid holiday and if, for whatever reason I need a sick day, I still pay myself. But I have only taken one sick day in five years of daycare. I get two weeks paid holiday.

IF I was to NOT get any unpaid time off, I would keep track of days the daycare was closed and then credit that amount towards the next week....so the next weeks check would be short by X amount. I would never refund, only credit.

You really should be giving yourself something as far as paid days off.....even if you start with just the basic holidays.

[Blackcat31]

I think a flat rate is just that. A flat weekly rate that is paid regardless or closures or absences. That way your sick days are built into the rate and parents are paying for your personal days and your vacation days.

The only thing I would ever credit back to them would be the days you have to close unexpectedly that are over and above what you have said you were taking in your handbook.

Some providers take 2 weeks vacation and 10 personal days over the course of a year. Anything beyond those days would be credited back to the parent at whatever their flat rate is divided by the number of days they contracted to attend.

[wahmof3]

I just started flat rate this year with all of my families. I have been doing it for a couple years but until this year I let my current families stay on a daily rate. Most of my DCK's are teachers kids so I was losing so much money on the daily rate and had to make a change.

I struggle with holiday, sick, personal, vacations, school closing days too.

I decided that if I am not available & care is needed (personal/sick day) I will not charge for that day. Mainly because I know they have to finance other means of care. I do charge for holidays, their sick days, school closings, and half their rate for winter/spring breaks.

I think its fair.

[Country Kids]

I just started flat rate this year with all of my families. I have been doing it for a couple years but until this year I let my current families stay on a daily rate. Most of my DCK's are teachers kids so I was losing so much money on the daily rate and had to make a change.

I struggle with holiday, sick, personal, vacations, school closing days too.

I decided that if I am not available & care is needed (personal/sick day) I will not charge for that day. Mainly because I know they have to finance other means of care. I do charge for holidays, their sick days, school closings, and half their rate for winter/spring breaks.

I think its fair.

What are you going to charge for their summer breaks? I'm losing big money this year because 4 of my kids are teachers children. Love the break but the finances hurt.

[wahmof3]

What are you going to charge for their summer breaks? I'm losing big money this year because 4 of my kids are teachers children. Love the break but the finances hurt.

That's my BIGGEST issue right now- I don't charge for summer breaks. I never have because I could always fill the spots with school age kids. I no longer accept school age kids unless they are a sibling of a current family. So yeah this summer my income is less than $200 week. IT ****S!!! But I am only working 3 days per week. I have one teachers DCK's that comes every other Wednesday and pays a daily rate.

Also, I don't think its the norm where I am located to charge for summer break.

I think when school starts up again, I will put some money in the bank to help off set my summer.

The other issue I need to figure out is: I have 1 DCF that is due to have a baby in December. I cannot afford to lose $800 for the 8 weeks leave she will take. I know she will expect it because that was the norm in the past. I am already holding the space for the baby free of charge. So really thats well over $1800 I am losing around Christmas time. I want to be fair but the bills still need paid.

So much to learn yet ::::

My BIGGEST FEAR is losing great families........... KWIM??

[originalkat]

I charge a flat monthly rate. This rate is averaged off of my weekly rate of $126. I multiply me weekly rate by 52 weeks, then I deduct my 2 weeks vacation that the parents do not pay me for, then divide that amount by 12 months. That gives me $525 per month per child. So even though the parents do not pay me for my 2 weeks vacation, I still get the same amount each month because I deducted it off the top.

I have up to 5 paid personal days that I can use each year for sickness or other reasons. Anything over that would be unpaid so I would deduct the day from what they needed to pay that month.

For holidays, I am off and paid for the following:
New years Day
Martin Luther King Day
Presidents Day
Good Friday
Memorial Day
Fourth of July
Labor Day
Veterans Day
Thanksgiving and the day after
Christmas Eve
Christmas Day

When I have teachers, I save $100 each month from their tuition to cover the summer.

[texascare]

I charge a flat rate per child per week weather the child is there or not. I also reserve the right to take 7 personal PAID days per year.If I was to go over that amount of days I would not charge the families. With out them I have no job so I am careful of when I take off. I also keep a list of dates in the office on a bulletin board incase there ever is a question.

[mema]

I charge a flat weekly rate. I have 10 days of paid vacation plus holidays and they receive 5 free days. If I close for sickness or emergencies, I do not charge. If they've already paid for the week I just transfer the day to the next week. I have thought about doing what originalkat does, but most of my families couldn't pay by the month, every week works better.