I've been running a private, home daycare for around 10 years. Personally, I prefer to keep it casual. When the parents arrive to pick up their children, they get a brief run down of pertinent information. Typically, I'll let them know how and/or what their kids ate, any special activities, a general idea of what we did through the day. In addition, if there were any incidents, bumps, or behavioural issues. I've not found it necessary to send home report cards, newsletters, etc. My clients typically end up being friends, so we just chat about the day. I will send out a newsletter at times when things are changing, (eg. fee schedule, policies, reminders to send seasonal accessories, or perhaps to notify of vacation schedule or upcoming special events). As long as the kids are going home happy, the parents have pertinent information and I'm communicative, I think that's quite fine for a home daycare.