2021-2022 Financial Position
The Finance, Operations, and Human Resource Services team (FOHRS) continued to monitor the agency budget to assess any monetary impact that delayed payments from funding sources could have on the agency. Payment delays were immediately addressed resulting in budgets remaining on track for the course of the fiscal year.
CCRR’s unaudited financials for FY2021-2022 (FY22) showed our Annual Agency Budget of $2,279,094.00 with $2,411,007.38 in Total Assets, and $2,411,007.38 in Total Liabilities and Reserves. Revenue totaled $3,010,007.19 and expenses totaled 2,291,894.34. Due to conservative budget forecasting, CCRR showed an unaudited surplus of $718,112.85 for FY22.
In July 2021, CCRR paid back the obligated amount of $40,067.70 to our Payroll Protection Loan.
CARES ACT FUNDING
Through the first half of 2021, CCRR administered the remainder of the state’s CARES Act Tuition Assistance Program and the NY Forward Child Care Expansion incentive (known as CARES 2). We closed out the remaining CARES Act funding throughout July to September 2021 as the two programs concluded. During this time, we distributed $216,547.66 in CARES Act funding to child care programs.
NEW INITIATIVE - BUSINESS SUPPORT TO CHILD CARE PROVIDERS
In July 2021, CCRR was pleased to be chosen by the NYS Office of Children and Family Services, along with our resource and referral counterparts statewide, to provide business support to child care providers. This grant has allowed us to provide business support services and technical assistance to child care providers as they apply for and receive Child Care Stabilization Grants and the Invest in NY Child Care Deserts Grant. These initiatives are intended to support the stabilization, creation, and expansion of child care programs throughout Rockland County and New York State.
CHILD CARE TUITION SCHOLARSHIP
CCRR is grateful to again partner with the United Way of Rockland, which awarded CCRR a Community Impact Grant of $15,000 for FY 2020-2022 in support of one of our two scholarship funds. An additional $24,474 remains in the Jane Brown Tuition Scholarship.
Child Care Tuition Scholarship funds have an enormous impact on the lives of children and their families. We continue to see a great need for this assistance. With the pandemic shining a light on how essential child care is to families and to the economy, Federal and State lawmakers began debating ways to offer child care tuition assistance to families through various initiatives. Yet because the need is so great, CCRR’s Scholarship fund is desperately in need of replenishment. United Way grant funds have diminished over the past three years, and no additional fundraising for this initiative has taken place since 2019.
Due the limits of the COVID-19 pandemic, CCRR curtailed much of its fundraising activities for the fiscal year. While we solicit donations throughout the year, our fundraising efforts focused on our Football and Super Bowl with a Twist games, which raised $8150, and our Annual Appeal, which raised $3530. All told, CCRR raised $34,396.86 for the year.
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