124 Program Management 3. Fiscal Management 1. Budget Development Level 1 Use materials, equipment, and other resources prudently. PM 3.1.1 Level 2 Identify the program’s funding sources (income) and requirements, i.e. tuition, state and/or federal funding, private foundations. Identify expenses related to the child care or education business. PM 3.1.2 Level 3 Participate in the development, planning, and implementation of the budget development process. PM 3.1.3 Level 4 Develop an annual operating budget designed to facilitate program goals based on anticipated funding. Communicate with staff, families, and stakeholders to develop short- and long-term financial goals. Analyze, evaluate, and modify salary scales that are commensurate with qualifications/experience. Identify multiple funding sources. Develop a fee structure and policies related to late payments and other financial matters. PM 3.1.4 Level 5 Analyze, evaluate, articulate, and apply evidence-based best practice with educational institutions and business leaders to improve the accessibility and availability of professional development in business management, and finance for early childhood professionals. PM 3.1.5 2. Budget Maintenance Level 1 Follow directions for requesting supplies and materials as needed. PM 3.2.1 Level 2 Implement procedures to track income and expenses. PM 3.2.2 Level 3 Engage in the continual assessment of potential shortages or surpluses in budgetary expenses. PM 3.2.3 Level 4 Continually analyze, evaluate and modify operating budget. Ensure program meets budgetary reporting requirements. PM 3.2.4 Level 5 Evaluate, articulate, and apply evidence-based best practice regarding systems that support sound fiscal operations in a variety of early childhood care and education settings supplied by multiple funding streams. PM 3.2.5 These skills and practices are needed by owners/directors of all types of childcare facilities.