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Overview 

It's MOTHER'S DAY on Sunday.  To help with preparations you'll find an article with ideas for early childhood services and families for celebrating Mother's Day on the ChildForum website (click here to go to the article).

At ChildForum we are working on a special project to bring you more information on a very important issue for young children next week.   Hence, this week the newsletter is very short.

What we do have for members who are involved with an early childhood service (centre and home-based) is a very special announcement.  You are the first to hear that Audit-Ready Kits for Privately-Owned and Community-Based early childhood services have just been released.  This is very exciting news.  Read more below.

Audit Ready Kits

The Kit puts you in charge of your early childhood service's financial management, accounting and internal control so that:

• You understand accounting reports & are confident in your planning & management
• You are relaxed and ready for your annual audit and audit by the Ministry of Education
• Your internal financial control procedures keep you safe from error & fraud
• Your accounts are prepared easily and fast
• You enjoy learning at the pace you choose, playing with and using the many worksheets and templates, and finding answers to all your questions

You recover the cost of the Kit in the first year from: 1) Reduced accountancy and audit time and fees; 2) Avoiding errors and fraud; 3) Freeing your time and energy for other income earning activities; and 4) for privately-owned services reduced income tax payments by correct income reporting.

The Community and Privately-Owned ECE services Kits have many helpful features and these are detailed online (click here to find out more).  The whole kit contains all you need to know about accounting and is geared to help your sound financial reporting and strategic future planning.

A Story: Megan’s service was constantly not being paid by parents on WINZ benefits because the parents were not telling WINZ of changes to their income. Megan followed the Kit’s procedures and proactively helped the parents comply with WINZ so there were no more bad debts.

The Kits come with the following files:

• A Handbook (pdf file for you to print)
• Grant Income Summary, worksheet, examples, practice exercise (spreadsheets)
• Provisionally Registered Teachers Grant (spreadsheets)
• ECESTE Grant – Register and summary (spreadsheets)
• Internal Financial Control Manual templates (spreadsheets)
• Flow of Funds Report (spreadsheets)
• Numerical example of Double Entry Equation (spreadsheets)

A Story: Carol usually reported as income to the IRD the total grant cash her service received each year from the Ministry. When she learned that is incorrect she used the Grant Summary worksheet and declared only the income earned each year. Carol also treated the teacher support grants as a liability, not income. These steps reduced her income tax by $13,000!

Learn More about the Audit Ready Kits ....  click here

Be quick - order your Audit Ready Kit online from the ChildForum website for only $259.91+ GST - our special member price.  The Kits are currently only available for purchase by ChildForum members. 

Have a good weekend
Best wishes from the ChildForum national office team