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Profit and Loss Monthly Excel - PDF

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					                 Details for Monthly Profit (or Loss) Summary

SECTION I: DATA
     —Enter the Month/Year along with your Institution’s Name


SECTION II: REIMBURSEMENT
     —At end of month, compile claim for number of meals for reimbursement
     —Submit your claim for the month in Child Nutrition ACES
     —Print the Claim Analysis
             –Choose this form under Links on the Sponsor Claim
             –Form will be available the Wednesday after submitting claim
     —Enter Meals amount from Claim Analysis on line A
     —Enter Commodity amount from Claim Analysis on line B
     —Total Meals and Total Commodity lines for Grand Total on line C


SECTION III: EXPENSE SUMMARY FOR MONTH

Administrative Costs
      —Administrative Labor
               –Salaries and benefits of staff performing Child and Adult Care Food
                Program (CACFP) administrative duties
               –Annual Enrollment Form
               –Household Income Eligibility Applications
               –Supervision of program personal
               –Scheduling of food program operations
      —Monitoring/Training—for multi-site organizations only
               –Time monitoring sites each year
               –Time spent providing annual training
      —Administrative Supplies
               –Paper/printing for forms
               –Annual Enrollment Forms
               –Household Income Eligibility Application Forms
               –Meal Participation Records
      —Administrative Other—not common, call office for verification of expense

Food Service Labor
      —Salaries and benefits of staff involved in meal service
              –Cook(s) who prepare the food
              –Teachers/teacher aids who serve the food and supervise the meal
              –Janitor who cleans up the kitchen area after the meal
              –Cook who plans the menus
              –Personnel who buys the groceries
   Utilize a Personnel Activity Report to document amount of hours worked on CACFP
Vended Meals
      —Meals purchased from a food vendor or caterer
   If you will pay more than $100,000 to a food vendor or caterer, a formal competitive bid
   process must be used to enter a contract for vended meals.

Food Costs
      —Groceries purchased for meal preparation
      —Spices and flavorings used in food preparation
      —Food costs should reflect the menus

Allowable Nonfood Costs
       —Allowable Nonfood Costs include those items necessary for the food service but are
         not classified as food
              –Dishes, cups, glasses, utensils
              –Disposable plates and utensils, paper napkins, paper towels
              –Dishwashing and hand soap used in kitchen
       —Food service equipment purchases (must be under $5,000)
              –Stove
              –Refrigerator
              –Dishwasher
              –Freezer
   Must have prior approval for food service equipment purchases—plan in advance for these
   purchases and record on the budget during the application renewal process in September
   each year.

Overhead Costs
      —Overhead Costs are costs associated with having a building and utilities
            –Rent
            –Electricity
            –Gas
            –Water
            –Trash removal
   Only a percentage of total overhead costs can be allocated to CACFP. Use a percentage of
   the square footage of the kitchen/food storage area divided by the total building square foot
   area. (The same percentage as used in annual budget unless the building size changes.)

Other Costs
       —Other Costs are not usually recorded because of the unique nature of “other.”
   If you feel you have a cost that would qualify as “other,” please contact our office.

15 Percent Cap on Administrative Costs
       —USDA regulations allow organizations to spend up to 15 percent of their annual
        reimbursement on administrative costs. Additional administrative costs must be paid
        by other sources of revenue to the institution.
       —Complete section to calculate 15 percent cap
       —If Administrative Costs exceed 15 percent cap, document what other sources of
        revenue are used to pay for the amount above the 15 percent cap.
SECTION IV: MONTH’S PROFIT/LOSS STATUS

   Input all reimbursement for month from Section II.
   Input any other food service revenue received such as if you sell meals to another center or
   sell adult meals.
   Total all food service reimbursement.
   Input total expenses from Section III.
   Calculate the profit/loss for the month by subtracting the total expenses from the total
   reimbursement. Indicate a loss if the expenses are larger than the reimbursement. A profit
   would be a reimbursement greater than expenses.


SECTION V: ANNUAL PROFIT/LOSS STATUS

   Indicate the current month Profit or Loss from Section IV.
   Indicate the Year-to-Date Total from the previous month’s Monthly Profit (Loss) Summary
   form’s Section V.
   Calculate the Year-to-Date Total for this month by adding last month’s Profit/Loss to this
   month’s Profit/Loss.


Maintain a copy of the Monthly Profit (or Loss) Summary in your records along with
copies of supporting documentation.

				
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