![Page 1: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/1.jpg)
Financial Management:A Course for School Nutrition Managers
![Page 2: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/2.jpg)
Pre - Assessment Place an identifier at the top of the page. You will use the same identifier when you
complete the Post Assessment. You do not need to place your name on the
Assessment.
Financial Management for Managers
![Page 3: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/3.jpg)
Activity: Managers Need To Know What are things school nutrition managers
need to know regarding financial management?
Financial Management for Managers
![Page 4: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/4.jpg)
Objectives Assess competencies, knowledge, and
skills of financial management Examine the advantages of cycle menus Recognize the importance of standardized
recipes and the financial benefit of USDA Foods
Recognize key information when forecasting menu item usage
Calculate the cost of menu items Identify purchasing controls Identify inventory controls
Financial Management for Managers
![Page 5: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/5.jpg)
Objectives, Continued Identify ways to control labor costs Calculate Full-Time Equivalent (FTE) Calculate Meals Per Labor Hour (MPLH) Implement processes and procedures that
minimize financial risk Develop and use tools to facilitate the
communication of financial data and information
Recall the benefits of financial information as it relates to your school nutrition program
Financial Management for Managers
![Page 6: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/6.jpg)
Terms and Definitions Terms and Definitions Handout
Financial Management for Managers
![Page 7: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/7.jpg)
Importance of Financial Management Changing federal regulations Increasing program cost Growing demands
Financial Management for Managers
![Page 8: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/8.jpg)
Nonprofit School Nutrition Program Fund Flow of school nutrition program funds Requirements for establishing a nonprofit
school nutrition program account Program revenue requirements
Financial Management for Managers
![Page 9: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/9.jpg)
Office of Management and Budget (OMB) Terms and conditions Fundamental guidelines Financial integrity of SNP
Financial Management for Managers
![Page 10: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/10.jpg)
School Nutrition Program Fund The OMB cost circulars outline cost
principles which ensure that taxpayer’s resources are appropriately used to carry out the Federal programs as the Federal agencies are responsible for the stewardship of these resources.
Financial Management for Managers
![Page 11: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/11.jpg)
School Nutrition Fund Flow
United States Department of
Agriculture
State Agency(SA)
School Food Authority(SFA)
Financial Management for Managers
![Page 12: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/12.jpg)
Budget-Manager’s Role Participate in preparation and review
process Keep budget on file Evaluate income and expenditures Amend as necessary
Financial Management for Managers
![Page 13: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/13.jpg)
Financial Management Practices Indicators are analyzed regularly Prices based on established criteria Financial records are cross-checked Compare expenditures to revenues Participation is analyzed monthly
Financial Management for Managers
![Page 14: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/14.jpg)
Internal Controls Written policies Authorized individuals Monitored by an independent review Trained employees
Financial Management for Managers
![Page 15: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/15.jpg)
Financial Management Skills
Competencies, Knowledge, and Skill Statements for District-Level School Nutrition Professionals in the 21st Century
Financial Management for Managers
![Page 16: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/16.jpg)
Activity: Self-Assessment Self-Assessment Handout Evaluate your current skills level
Financial Management for Managers
![Page 17: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/17.jpg)
Activity:Financially Sound School Nutrition Program What purchasing tools and processes
contribute to a financially sound nutrition program?
Financial Management for Managers
![Page 18: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/18.jpg)
Menus Driving force of school nutrition operation Definition of cycle menus
Financial Management for Managers
![Page 19: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/19.jpg)
Activity: Cycle Menu Advantages Cycle Menu Activities Handout Advantages of Cycle Menus
Financial Management for Managers
![Page 20: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/20.jpg)
Stock-Keeping Units (SKUs) Multiple uses for the same product Example: each flavor of juice has a different SKU Best practice - reduce SKUs
Financial Management for Managers
![Page 21: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/21.jpg)
Standardized Recipes Tried, adapted, and retried several times Recipe produces the same good results
and yield every time Specific quantity for each ingredient and
portion size
Financial Management for Managers
![Page 22: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/22.jpg)
Activity: Importance of Standardized Recipes Take about 10 minutes to work together at
your tables and list the advantages of using standardized recipes.
Financial Management for Managers
![Page 23: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/23.jpg)
USDA Foods Meet meal pattern requirements Coincide with the principles in the Dietary
Guidelines for Americans Add variety to the school menu Provide cost savings to the SNP
Financial Management for Managers
![Page 24: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/24.jpg)
USDA Foods Value Financial Benefits of Using USDA Foods:
BBQ Pulled Pork Example Handout
Financial Management for Managers
![Page 25: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/25.jpg)
Food Production Records Required Demonstrates required food components Lists menu items offered and served Used to document reimbursable meals Evaluate how menu items contributed to
meeting nutrition standards Keep for three years plus the current year
Financial Management for Managers
![Page 26: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/26.jpg)
Production Record—Value Used to forecast product estimates Provides historical data (forecasting) Identifies excessive labor Identifies potential waste Identifies unfavorable items
Financial Management for Managers
![Page 27: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/27.jpg)
Forecasting Past Present Future
Financial Management for Managers
![Page 28: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/28.jpg)
Activity: Forecasting Number of Servings Sample Forecasting Number of a Servings
Handout
Financial Management for Managers
![Page 29: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/29.jpg)
Activity: Extra Servings Scenario Extra Servings Handout
Financial Management for Managers
![Page 30: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/30.jpg)
Activity: Financial Control in Food Preparation Work together at your tables and make a
list of ways to enhance financial control during food preparation.
Financial Management for Managers
![Page 31: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/31.jpg)
Batch Cooking Batch cooking and “just-in-time” (JIT)
cooking used interchangeably Small quantities maintain higher quality Amount prepared not to exceed servings
needed in established time (15–30 minutes)
Takes place continuously throughout the meal service
Financial Management for Managers
![Page 32: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/32.jpg)
Activity: Batch Cooking Batch Cooking Handout
Financial Management for Managers
![Page 33: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/33.jpg)
Portion Control Production records Standardized recipes Nutritional analysis Age-appropriate portion sizes
Financial Management for Managers
![Page 34: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/34.jpg)
Activity: Portion Control Tilapia Garnished with Citrus Sauce Tilapia Garnished with Citrus Sauce
Handout
Financial Management for Managers
![Page 35: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/35.jpg)
Controlling Cost and Waste Procedures to minimize waste Controlling waste – operational factors and
customer acceptability
Financial Management for Managers
![Page 36: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/36.jpg)
Activity: Controlling Waste Work together at your tables and list ways
to control waste.
Financial Management for Managers
![Page 37: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/37.jpg)
Food Buying Guide
http://fbg.nfsmi.org
Financial Management for Managers
![Page 38: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/38.jpg)
Food Buying Guide Information Contains both specific food product
information and general operational information
Provides the yields, or the amount of servings obtained in a purchased unit of different products such as fruits, vegetables, grains, meats/meat alternates, and dairy products
Financial Management for Managers
![Page 39: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/39.jpg)
Food Guide Buying Calculator A tool to help calculate quantity of food to
purchase Individual calculators for each of the 6 food
groups http://fbg.nfsmi.org/
Financial Management for Managers
![Page 40: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/40.jpg)
As Purchased (AP) and Edible Portion (EP) AP refers to the weight of the product as it
exists when purchased. EP refers to the part of the product that
can be consumed. AP weight is greater than EP weight.
Financial Management for Managers
![Page 41: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/41.jpg)
Calculate the Cost of Menu Item Meet the needs of the recipe Reduce waste Determine product loss Determine preparation
Financial Management for Managers
![Page 42: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/42.jpg)
Activity: Purchasing Decision, Broccoli Purchasing Decision Handout
Financial Management for Managers
![Page 43: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/43.jpg)
Product Screening Not required Establish procedures
Financial Management for Managers
![Page 44: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/44.jpg)
Screening Paper Screening Appearance Screening Taste Screening
Financial Management for Managers
![Page 45: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/45.jpg)
Paper Screening Product label Description of the product Nutritional analysis
Financial Management for Managers
![Page 46: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/46.jpg)
Appearance Screening Examines appearance of product Determines if product appearance is
wanted or expected
Financial Management for Managers
![Page 47: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/47.jpg)
Appearance Screening - Package Individually wrapped Integrity of the product
Financial Management for Managers
![Page 48: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/48.jpg)
Taste Screening Determine criteria in advance Document customer satisfaction Screen adults and students
Financial Management for Managers
![Page 49: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/49.jpg)
Activity: Financial Advantages of Product Screening What are the financial advantages of
product screening?
Financial Management for Managers
![Page 50: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/50.jpg)
Inventory Control Receiving Storage USDA Foods value
Financial Management for Managers
![Page 51: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/51.jpg)
Receiving Strategies Procedures
Financial Management for Managers
![Page 52: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/52.jpg)
Activity: Best Practice Receiving Work as a team and identify several best
practices receiving strategies.
Financial Management for Managers
![Page 53: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/53.jpg)
Storage Proper conditions
Financial Management for Managers
![Page 54: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/54.jpg)
Activity: Storage Area Organization What are typical storage areas?
Financial Management for Managers
![Page 55: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/55.jpg)
Activity: Dry Storage List categories you might use to group
foods in dry storage. Storage Area Handout
Financial Management for Managers
![Page 56: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/56.jpg)
Inventory Control
Financial Management for Managers
![Page 57: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/57.jpg)
Inventory Methods Perpetual inventory Physical inventory
Financial Management for Managers
![Page 58: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/58.jpg)
USDA Foods and Commercial Inventory Value of USDA Foods Single inventory concept Inventory Handout Perpetual Inventory Control Example Form Physical Inventory Example Handout
Financial Management for Managers
![Page 59: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/59.jpg)
Value of Inventory Purchase price = invoice price Replacement cost = most recent price paid
for the product Weighted average price = average price
paid for each product in inventory
Financial Management for Managers
![Page 60: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/60.jpg)
Inventory Turnover Greater the turnover the more efficient the
operation Items are available Reducing risk of theft Reducing risk of waste
Financial Management for Managers
![Page 61: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/61.jpg)
Food Cost Follow standard operating procedures. Maintain the correct inventory levels. Have needed product on hand. Prevent the need for more expensive
substitution. Ensure food is used in a timely manner.
Financial Management for Managers
![Page 62: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/62.jpg)
Activity: Calculate Cost of Food Used and Inventory Turnover Calculate Cost of Food Used and Inventory
Turnover Handout
Financial Management for Managers
![Page 63: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/63.jpg)
Par Stock Levels Predetermined inventory quantity for food
item Serves as in indicator to reorder the
product
Financial Management for Managers
![Page 64: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/64.jpg)
Expenditures Food costs Labor costs Supply Costs Purchased services Transportation Indirect
Financial Management for Managers
![Page 65: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/65.jpg)
Food Costs Within guidelines Ascertain sufficient funds to pay
expenditures Establish the cost for each meal Prevent waste and food theft
Financial Management for Managers
![Page 66: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/66.jpg)
Ways to Reduce Food Cost Ways to Lower Food Costs in School
Nutrition Programs Handout
Financial Management for Managers
![Page 67: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/67.jpg)
Meal Equivalents USDA does not prescribe one method to
calculate meal equivalents. School meals must be converted to a
standard. Nonprogram food sales are converted to
lunch standard. Calculate meal equivalents based on full
cost of reimbursable lunch.
Financial Management for Managers
![Page 68: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/68.jpg)
Equates Meals to a Standard A student reimbursable lunch is the
standard unit of measurement most often used.
Counting meal and food sales other than lunch is not clear-cut.
Meal equivalents are used for determining per meal cost, productivity ratios, and Meals Per labor Hours (MPLH).
Financial Management for Managers
![Page 69: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/69.jpg)
Meal Cost Meal Equivalents Calculations Convert different types of meals and
nonprogram revenues to numbers of meals equivalents served.
Breakfast, lunch, snacks, and nonprogram food sales such as a la carte must be converted.
Check with state agency for guidance.
Financial Management for Managers
![Page 70: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/70.jpg)
Activity: Meal Equivalents Breakfast Meal Equivalents Handout,
Afterschool Snacks Meal Equivalents Handout
Nonprogram School Nutrition Sales Handout
Financial Management for Managers
![Page 71: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/71.jpg)
Per Meal Costs Meal cost as a benchmark Essential to good financial analysis of SNP Determine on a regular basis Per Meal Cost Calculation Handout
Financial Management for Managers
![Page 72: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/72.jpg)
Labor Costs What are ways to control labor costs in
school nutrition programs?
Financial Management for Managers
![Page 73: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/73.jpg)
Staffing Determination of appropriate number of
workers needed for work to be accomplished
Established guidelines essential Impacts financial management
Financial Management for Managers
![Page 74: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/74.jpg)
Scheduling What are implications of poor scheduling?
Financial Management for Managers
![Page 75: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/75.jpg)
Activity: Production Task Schedule Production task Schedule Example
Handout
Financial Management for Managers
![Page 76: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/76.jpg)
Full-Time Equivalent (FTE) 1.0 = one full-time employee Holiday, sick leave, vacation, or other time
off not considered FTE
Financial Management for Managers
![Page 77: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/77.jpg)
Activity: FTE Calculations
Number of employees x hours worked per day
Total hours per week x number of days
Hours per week ÷ 40 hours per week
Financial Management for Managers
![Page 78: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/78.jpg)
Meals Per Labor Hours Meals Per labor Hours (MPLH) productivity
index Actual hours assigned
Financial Management for Managers
![Page 79: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/79.jpg)
Activity: Meals Per Labor Hours Meals Per Labor Hours Handout
Financial Management for Managers
![Page 80: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/80.jpg)
Fraud Prevention Accounting Internal Organization External Organization
Financial Management for Managers
![Page 81: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/81.jpg)
Internal Controls Compliance Cash handling Deposits Funds for allowable cost Appropriate accounting methods Monitoring, authorizing, and recording
Financial Management for Managers
![Page 82: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/82.jpg)
Activity: Cash Handling Practices What are some procedures to prevent
fraud or theft? Cash Handling Procedures-Good Practices
Handout
Financial Management for Managers
![Page 83: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/83.jpg)
Activity: Customer and Employee Theft Work in small teams and discuss ways to
prevent customer and employee theft. Theft Prevention Measures Handout
Financial Management for Managers
![Page 84: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/84.jpg)
Communicating Financial Information Checklist
Financial Management for Managers
![Page 85: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/85.jpg)
Activity: Communicating with the School Nutrition Director What operational concerns directly related
to the financial impact of your program should be communicated to your director?
Financial Management for Managers
![Page 86: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/86.jpg)
Thank You! Post - Assessment Evaluations
Financial Management for Managers
![Page 87: Financial Management: A Course for School Nutrition Managers](https://reader033.vdocument.in/reader033/viewer/2022042822/5681397f550346895da111b1/html5/thumbnails/87.jpg)
National Food Service Management Institute
www.nfsmi.org
800-321-3054
Financial Management for Managers