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Daycare Center and Family Home Forum>Quick Question About Rate Notice. Suggestions Please!
Nickel 08:53 AM 10-16-2012
Okay, I have a dcg who interviewed last week and started today. They gave me her hours but today they are here are 9am. I quoted her thinking some days she would start at 1030, but that is not the case. So I am upping her fees. please tell me if this letter sounds okay
Rate Change NoticeDuring the interview I quoted you at $80/week, however I misunderstood the amount of hours needed for child care. With your current needs, the weekly rate will actually be $90/week. I apologize for the inconvenience. Because it was my mistake your new rate will be effective November 1st, 2012.
This means October 16 - 31st will be at the rate of $174 with a $15 (for the 15th) credit bringing your total to $159. Your payment of $80 brings your balance to $79.
On November 1st, 2012 your tuition will be $195 for child care from November 1-15. This rate was taken by taking your weekly rate of $90 and multiplying by 52 (weeks in a year), then dividing by 24 payments (your payment schedule of twice a month) to get a total of $195 per payment due on the 1st and 15th of each month.
I have attached a new copy of the contract to reflect these changes. Please sign and return no later than Friday October 19th.
Please give suggestions! Thanks
Rate Change NoticeDuring the interview I quoted you at $80/week, however I misunderstood the amount of hours needed for child care. With your current needs, the weekly rate will actually be $90/week. I apologize for the inconvenience. Because it was my mistake your new rate will be effective November 1st, 2012.
This means October 16 - 31st will be at the rate of $174 with a $15 (for the 15th) credit bringing your total to $159. Your payment of $80 brings your balance to $79.
On November 1st, 2012 your tuition will be $195 for child care from November 1-15. This rate was taken by taking your weekly rate of $90 and multiplying by 52 (weeks in a year), then dividing by 24 payments (your payment schedule of twice a month) to get a total of $195 per payment due on the 1st and 15th of each month.
I have attached a new copy of the contract to reflect these changes. Please sign and return no later than Friday October 19th.
Please give suggestions! Thanks
Blackcat31 09:12 AM 10-16-2012
"52 (weeks in a year), then dividing by 24 payments (your payment schedule of twice a month"
Wouldn't that short you a month? 52 weeks divided by bi-weekly payments is 26 not 24. If they pay you 24 times a year, they are paying for 48 weeks of care not 52.
I don't bill that way so I may be off with my math or not accounting for something else you have going on, like vacation weeks or something but just wanted to double check that you actually meant 24.
Your letter sounds ok otherwise. The math is confusing but if they are the parent paying and understand how you bill, it might make sense. But to me, it is alot of numbers. I would want to know my rate and that is all. The math behind the rate could be verbally explained.
Just my 2 cents.
Wouldn't that short you a month? 52 weeks divided by bi-weekly payments is 26 not 24. If they pay you 24 times a year, they are paying for 48 weeks of care not 52.
I don't bill that way so I may be off with my math or not accounting for something else you have going on, like vacation weeks or something but just wanted to double check that you actually meant 24.
Your letter sounds ok otherwise. The math is confusing but if they are the parent paying and understand how you bill, it might make sense. But to me, it is alot of numbers. I would want to know my rate and that is all. The math behind the rate could be verbally explained.
Just my 2 cents.
Nickel 10:03 AM 10-16-2012
Annual they pay the same amount by their payment schedule is different. That's why i write the whole thing out because lots of people don't understand. Otherwise I wouldn't have even added that paragraph. I had to explain it to dcm this morining too. Because if they were to pay me the biweekly fee on the 1st and 15th I wouldbe shorted.
let's use 100 as an example because it is easier for math.
100 week x 52 weeks is 5200 a year
divide that monthly and it is $433.33 per month or 434 (I round up)
divide that by 26 biweely payments and it is $200 every other week
divide that by 24 twice monthly payments and they pay $216.66 or 217.
I do the twice monthly because that's when the military gets paid and they are military. So It works out for them. My husband is the same way, so we don't ever get an extra paycheck like some people do. We get paid the exact same twice a month all year long. So sometimes there are 12 days in a pay period and sometimes there are like 19. It all depends on when pay day falls (weekend or not) and how many days are in the month. I hope that made sense
let's use 100 as an example because it is easier for math.
100 week x 52 weeks is 5200 a year
divide that monthly and it is $433.33 per month or 434 (I round up)
divide that by 26 biweely payments and it is $200 every other week
divide that by 24 twice monthly payments and they pay $216.66 or 217.
I do the twice monthly because that's when the military gets paid and they are military. So It works out for them. My husband is the same way, so we don't ever get an extra paycheck like some people do. We get paid the exact same twice a month all year long. So sometimes there are 12 days in a pay period and sometimes there are like 19. It all depends on when pay day falls (weekend or not) and how many days are in the month. I hope that made sense