The Iron Triangle of ECE Finance

09/13/2019

The Iron Triangle of ECE Finance

Any time you sincerely want to make a change, the first thing you must do is to raise your standards.
Anthony Robbins

In the book, Art of Leadership: Managing Money, Louise Stoney and Libbie Poppick describe what they call the 'iron triangle of ece finance':

“Full enrollment
Full fee collection, and
Revenues cover per-child cost.”

They go on to say: “Indeed full-fee collection and revenue that covers per-child cost form the base of that triangle….All too often an early childhood program will have a budget that balances on paper, but the cash just doesn’t come in the door. Successful ECE administrators stay on top of collections; they have clear payment polices, are firm and consistent with families, thorough and prompt with billing, and on top of the paperwork required by third-party funders.”

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