My general rule is that if a child can participate in the daily activities - going outside, physical activity, eating normally, sleeping ok etc then they can come. Unless... they have had a fever within the last 24 hours, have been throwing up or had diarhea in the last 24 hours or have had a sore throat for more then 3 days and have not been seen by a doctor or a rash that has been undiagnosed that has had a fever within the last 48 hours.
Runny noses are part of the job. I have just learned to accept it.
I do a really good cleaning of all toys ... all blocks... all little people... everything twice a year... unless I have had an outbreak of something then I do it right away. An outbreak this big usually closes me down for a day or two so I take that time to disinfect every corner. I do a wipe down of all main play areas daily. (the kitchen, the train table, the picnic table etc)