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Financial Management A Course for School Food Service Directors

Financial Management A Course for School Food Service Directors. Pretest. Chapter One: Communicating the Importance of Effective Financial Management. Objective Recognize the importance of effective communication regarding financial management of the school nutrition program(SNP).

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Financial Management A Course for School Food Service Directors

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  1. Financial ManagementA Course for School FoodService Directors

  2. Pretest

  3. Chapter One: Communicating the Importance of Effective Financial Management Objective • Recognize the importance of effective communication regarding financial management of the school nutrition program(SNP)

  4. Chapter One: Discussion Topics

  5. Question for Discussion • Why do you think financial integrity is important?

  6. Financial Management Overview • Program administrator’s responsibility for financial management of the SNP.

  7. Question for Discussion • Based on your experiences, what is your definition of financial management?

  8. Financial Management • Financial Management: -the financial goals and program objectives for the school nutrition program, and -attaining those goals through the effective use of resources

  9. Question for Discussion • What are some ways school food service directors can demonstrate financial accountability?

  10. School Environment COMMUNICATIONS between

  11. Question for Discussion • What do we mean by environment in a school setting?

  12. Question for Discussion • Why is communication important?

  13. Communication Speech Writing Signals Behavior

  14. Key Concepts • Financial goals of the school board • School nutrition program self-supporting • Efficient accounting system • Accurate, timely financial management • Adherence to submitted food service budget

  15. Key Concepts • Financial objectives of the school nutrition program • Basic financial management practices • Customer satisfaction • Well managed resources for cost containment • Interpreting financial information for decision-making

  16. Question for Discussion • What are examples of financial goals/objectives for a school nutrition program?

  17. Food Service Director to Administrators/Board • Financial status of SNP • Chain of command • Accessibility to school board members • Avenues of communication

  18. Food Service Director to School Business Officials • Business manager • Secretaries • Bookkeepers • Accounting Clerks • City/county business officials

  19. Food Service Director to Principals • School activities affect participation • Student increases/decreases in free/reduced price numbers • Merchandising activities

  20. Food Service Director to Manager • Policies and Procedures • Menus • Price changes • Budget • Explain yearly projections of revenues and expenditures • Reporting forms • Maintenance request procedures • Special promotions

  21. Manager to Food Service Director • Market and grocery orders • Monthly inventory • Meal costs • Meals per labor hour • Daily meal counts • Daily cash reconciliation

  22. Manager to Food Service Director • Product evaluation • Guests to the program • Power outages • Equipment repair needs • Accidents • Special events • Banking problems • Clarification on policies/procedures

  23. A Communication Review

  24. Chapter Two: Revenue Sources by Category Objective Identify school nutrition program revenue sources by category • Local • State • Federal

  25. Chapter Two: Discussion Topics

  26. Question for Discussion • What do you consider your main source of revenue in your school nutrition program?

  27. Local Sources • Local Government Aid • Local Grants • Contributions

  28. Student Meal Sales • Full-Paid Meals • Reduced-Price Meals • Prepaid Meals • Meal Charges • Afterschool Care Program Snacks

  29. Question for Discussion • What are other sources of local revenue?

  30. Other Local Sources of Revenue • Adult payments • Contract meal sales • A la carte income • Catering • Interest • Miscellaneous

  31. State Sources • Cash payment from the state • Matching funds • Special milk reimbursement • Grant money

  32. Question for Discussion • Do any of you receive state funds for other purposes?

  33. Federal Sources • Payment for breakfast and lunch meals • Federal cash reimbursement for snacks • Value of donated commodities • Grant money awarded to school districts • Funds for other federal nutrition programs

  34. Revenue Generation • Identifying areas where revenue is being lost.

  35. Scenario for Discussion Students who choose not to eat school meals result in lost revenue to the program. Discuss how schools should go about setting participation goals and then follow-up with plans to increase participation.

  36. Scenario for Discussion Some parents do not complete application forms for their children to receive meal benefits although the children are eligible. Suggest ways that the school districts might approach these parents and their children to encourage them to participate.

  37. Scenario for Discussion More and more school districts are reporting student theft of food displayed on the serving line. Suggest ways the school district can eliminate theft of food items.

  38. Scenarios for Discussion • Have program costs been analyzed according to categories of expenditure? • How do program costs in the school’s food service operation compare to other school programs or to industry standards? • Have school food service staffs been included in the financial management of the operation?

  39. Scenarios for Discussion • Do staff have an understanding of the importance of cost controls to the success of the operation? • If there is a need to reduce costs, are the reductions being made in activities that have less value to the customers?

  40. Chapter Three: Expenditure Sources by Category Objective Identify SNP expenditure sources by category • Labor (Salaries and Wages) • Employee Benefits • Purchased Professional Services • Purchased Property Services • Purchased Food & Donated Commodities • Other Purchased Services • Supplies • Property • Miscellaneous • Fund Transfers Out

  41. Chapter Three: Discussion Topics

  42. Labor Expenditure • Salaries and Wages • Fringe Benefits • Unemployment Insurance

  43. Food Expenditure • Food cost • Purchased • Donated • Food Production Supplies

  44. Supply Costs General Supplies

  45. OVERHEAD

  46. Question for Discussion • What are other overhead costs that the school nutrition program pays for in your school district?

  47. Capital Equipment and Furniture

  48. Indirect Costs

  49. Chapter Four: Accountability in Financial Reporting Objectives • Define the essential financial reports used in the school nutrition program. • Recognize the importance of ethical standards in developing school nutrition program financial reports.

  50. Chapter Four: Discussion Topics

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