Fund for Sustaining Quality

PHMC and the Fund for Sustaining Quality continue to monitor information on COVID-19/coronavirus. We are focused on quality care for all participants and ensuring organizational preparedness, including our employee’s health and wellness. We are continuing to provide services to our clients and are ensuring extra preventive and precautionary measures are in place based on guidance from the Centers for Disease Control and Prevention and the Philadelphia Department of Public Health. If you have a specific question about the Fund for Sustaining Quality services, please email FSQ@phmc.org.

COVID-19 Business Support

During this unprecedented time, we know early childhood education operators have more questions than answers.  We are here to help you get the answers you need.  If we can’t answer your question, we will point you in the right direction. CLICK HERE to visit the COVID-19 Business Support page to ask a question and to find more resources.

Fund for Sustaining Quality

In 2017, Public Health Management Corporation (PHMC), with funding support through Vanguard’s Strong Start for Kids™, launched a new fund to support existing high-quality early care and education programs in Philadelphia.

Philadelphia has very few high-quality programs (approximately 15% of seats are high-quality) and those that do exist operate on extremely slim financial margins. The Fund for Sustaining Quality (FSQ) provides STAR 3 and 4 child care centers, located in Philadelphia, with support to develop and implement sustainability plans. Providers work with an expert consultant to reflect on their current operations and landscape threats and opportunities and make needed shifts in practice to ensure sustainability of their business. Projects focus on ensuring sound business practices, operational efficiency, and risk mitigation. Sustainability plans are tailored to each provider's specific need and may focus on strategic planning and other business areas such as financial planning, staffing, enrollment recruitment, facilities management, and leadership development. Providers may also consider diversifying funding sources, increasing service offerings, or modifying programming to better meet current funder priorities or community needs.

Supports include:

• - 18-month engagement with an expert consultant
• -  creation of strategic plan/business plan based on individual needs
• - access to content experts typically unavailable to most child care programs due to cost barrier
• - financial support for implementation as appropriate

Outcomes

Examples of project outcomes:

• - revised organizational chart and updated job descriptions
• - improved personnel policies and revised personnel handbook
• - automated financial management and implementation of a child care management system
• - created rebranding package for multi-site provider with unified site names, new logo, website, and collateral materials
• - developed succession plan for child care director
• - increased leadership skills and board development

Fund for Sustaining Quality Awards

PHMC congratulates the following programs on their selection to participate in the Fund.

For more information about the Fund for Sustaining Quality, please email FSQ@phmc.org

Early Childhood Education Fiscal Hub (Fiscal Hub)

Developed in 2017, the Early Childhood Education Fiscal Hub (Fiscal Hub) focuses on improving the financial stability of child care programs. The Fiscal Hub helps child care owners and directors improve their business management practices and financial operations through resources, technical assistance, and policy advancement. Partners include Public Health Management Corporation, Reinvestment Fund, CoMetrics, and Children’s Village. PHMC thanks the Vanguard’s Strong Start for Kids™ and the William Penn Foundation for funding this and other initiatives designed to strengthen the ECE sector and increase positive outcomes.

Supports include:

• - an online tool that helps providers understand their financial data and how their performance compares to peers
• - a proposed set of ECE industry standards, which includes metrics and suggested targets that help providers track financial performance and make more informed business decisions
• - a standard chart of accounts to help standardize budgeting practices of providers
• - tiered technical assistance to improve budgeting and reporting practices, analyze financial and programmatic data, and use the online tool to improve business practices

Outcomes

Owners/directors:

• - meet Keystone STARS 3 and 4 Performance Standards (LM.3.4.7 and LM.3.4.11) CLICK HERE to learn how the Fiscal Hub meets STARS standards
• - begin to understand how making data-driven decisions can affect their bottom line while improving their quality
• - understand their cost of care by age level
• - learn how to organize their financial data to save time and money
• - understand how their business is doing in comparison to others

 CLICK HERE to hear from Fiscal Hub participant, Leslie Spina, Kinder Academy

Resources

Reports

• Early Childhood Education Fiscal Hub report (February 2019)

Tools

• Common Financial Terms
• Overview of the online tool
• Standard Chart of Accounts (Philadelphia)
• Standard Chart of Accounts (Pennsylvania)
• COVID-19 Financial Impact Tracking tool

If you are interested in accessing Fiscal Hub supports, CLICK HERE to complete a short survey (8 to 10 minutes) that is designed to understand your business practices and financial needs. 

For more information about the Fiscal Hub and supports available, please email FiscalHub@phmc.org.

Public Health Management Corporation
Centre Square East
1500 Market Street
Philadelphia, PA 19102

PHONE: 267.773.4400
FAX: 267.765.2397

Please use the address below when sending mail:

Public Health Management Corporation
LM 500, Lower Mezzanine, West Tower
1500 Market Street
Philadelphia, PA 19102

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