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Budget Items and First Year Tips

Essential Budgeting Tips for Starting and Sustaining a Micro or Hybrid School In this episode, we delve into the critical aspects of budgeting and planning for starting and maintaining a micro school. Emphasis is placed on understanding all budget categories early on to ensure sustainability and fair compensation. Key categories discussed include facility costs, insurance, technology infrastructure, salary, supplies, curriculum, and professional development. The episode also covers strategies for cutting expenses in the first year and the importance of including buffers and miscellaneous expenses to handle unexpected costs. Practical advice is given on setting tuition rates that cover all expenses and using fundraising or grants for non-recurring costs. Listeners are encouraged to have a realistic budget to keep the operations smooth and sustainable. 00:00 Introduction to Budget Planning 00:39 Understanding Budget Categories 02:49 Facility Costs Breakdown 05:38 Insurance and Technology Expenses 10:23 Managing Supplies and Curriculum 13:43 Salaries and Staffing Considerations 15:43 Training and Professional Development 19:47 Miscellaneous and Cushioning Your Budget 21:34 Conclusion and Resources