Can someone explain this budget in detail and what it is saying

Explain this budget in one detailed page. I have included the budget done already and reviews from two classmates. Please be specific in the report and talk about the numbers.This was the original assignment.1) A summary budget (total org budget including all programs, administrative and development revenues and costs by natural classification) with budget totals compared to last year’s actuals (and budget if available)2) The budgeted details for at least one program (more if org has multiple programs) and administrative and fundraising costs (see pptx for examples of multi-column presentation examples3) Information showing how income was estimated/calculated with details (what specific sources in what amounts, Hint: look well at Budget Book chptr 15 for a template on how to report this info)4) Information showing how salaries and benefits were calculated and allocated (see ppt and excel allocation examples for reference)5) A narrative of no more than 2 pages explaining the budget (highlights), connecting it to the organization’s mission and explaining how general costs were allocated (what methodology was used: see ppt for ways/methods of expense allocation)I understand this was a challenge that is why i gave you an example.BUDGET ASSIGNMENTFrom my professor—I have begun to review your budget assignment and I am running into a snag. I need to talk to you about it, but I won’t have time until we return from the Thanksgiving break.
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This review was nice but the professor is not going to be nice so I need to be prepared.
Manage Discussion Entry
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Is the budget relevant to the mission?
It is my understanding that this organization is designed to assist the low-income
population. While I feel that the budgeted positions and programs are meaningful to this
mission, there needs to be more focus on increasing revenue whether it is through
fundraising, grants, fee increases, etc. The increase of the revenue will allow the
organization to expand their programs and opportunities they are providing to the
community.
Is the budget reasonable based on last year’s actual and the information in the narrative?
The projected summary budget is reasonable in the fact that there are minor decreases
made to each category in order to cut expenses to avoid a deficit at the end of the fiscal
year. There are two concerns I have with the projected budget. When it comes to the
income estimations, only four out of eighteen revenue sources have a 50% chance or higher
of being received. The other concern I have is in regards to the staffing expense. If I am
basing the salary costs off of the budget narrative, the salary expense ($165,000) is too
large in relation to the revenue that the organization has coming in ($200,000). If I am
basing the salary costs off of the excel spreadsheet, the salary costs ($20,000) are too low
and this could result in employees deciding to leave the organization to find more
reasonable compensation. As a board member, because of these concerns, I would have
difficulty passing this budget unless there was a solid plan in place to increase revenue and
/ or decrease expenses.
Is the income feasible?
When it comes to the revenue of the organization, there are not any major changes other
than a large decrease ($15,000) in other income. From looking at the revenue that was
received last year, I would believe with a reasonable doubt that the organization would
receive the revenue they are projecting. While there are not many major revenue changes
between the two fiscal years, the income estimation excel spreadsheet shows that there
are many revenue sources that have less than a 50% likelihood that they will be received. If
I were on the Board of this organization, this would be concerning to me.
Are the salaries comparable to others in the field and reasonable for the positions?
With the total revenue for the organization being $200,000, it is difficult to have reasonable
salaries for 10 positions and be able to cover all organizational expenses. According to the
budget narrative, the salaries will total $165,000, which will only leave $35,000 to take care
of all other budget expenses. While the narrative is projecting $165,000 for salaries, the
total salary cost on the excel spreadsheet is $20,000 which will result in extremely low
annual salaries for all positions and will create a challenge in retaining talented staff. It is
tough to provide all the employees with a reasonable salary when you are working with
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such a limited amount of annual revenue. In this case, positions would need to be
eliminated or programs would need to encounter severe cutbacks, which could have a
detrimental effect on the organization because the programs are in such high demand.
Do you think that the upcoming years actual will reasonably reflect what is in the budget
you are viewing?
If the projected income is received, I do believe that the actual will reasonably reflect what
is in the budget because there have not been that many major changes made and in the
past year, the organization came out with a low deficit of $4,250. Even though I believe the
organization can come close to the projected budget, they will most likely encounter two
issues. Due to the low salaries in regards to the staff, the organization will have a high
turnover rate due to the challenges of retaining employees. The second issue would depend
on the organization’s net assets. It seems with the projected income and expenses, the
organization will continue to end the fiscal year with a small surplus or a small deficit, which
will prevent the organization from creating any type of sustainability plan for the future.
Collapse SubdiscussionHeather Buntz
Heather Buntz
FridayNov 17 at 11:45pm
Manage Discussion Entry
o
o
Is the budget relevant to the mission?
It is my understanding that this organization is designed to assist the low-income
population. While I feel that the budgeted positions and programs are meaningful to this
mission, there needs to be more focus on increasing revenue whether it is through
fundraising, grants, fee increases, etc. The increase of the revenue will allow the
organization to expand their programs and opportunities they are providing to the
community.
o Is the budget reasonable based on last year’s actual and the information in the narrative?
o The projected summary budget is reasonable in the fact that there are minor decreases
made to each category in order to cut expenses to avoid a deficit at the end of the fiscal
year. There are two concerns I have with the projected budget. When it comes to the
income estimations, only four out of eighteen revenue sources have a 50% chance or higher
of being received. The other concern I have is in regards to the staffing expense. If I am
basing the salary costs off of the budget narrative, the salary expense ($165,000) is too
large in relation to the revenue that the organization has coming in ($200,000). If I am
basing the salary costs off of the excel spreadsheet, the salary costs ($20,000) are too low
and this could result in employees deciding to leave the organization to find more
reasonable compensation. As a board member, because of these concerns, I would have
o
o
o
o
o
o
difficulty passing this budget unless there was a solid plan in place to increase revenue and
/ or decrease expenses.
Is the income feasible?
When it comes to the revenue of the organization, there are not any major changes other
than a large decrease ($15,000) in other income. From looking at the revenue that was
received last year, I would believe with a reasonable doubt that the organization would
receive the revenue they are projecting. While there are not many major revenue changes
between the two fiscal years, the income estimation excel spreadsheet shows that there
are many revenue sources that have less than a 50% likelihood that they will be received. If
I were on the Board of this organization, this would be concerning to me.
Are the salaries comparable to others in the field and reasonable for the positions?
With the total revenue for the organization being $200,000, it is difficult to have reasonable
salaries for 10 positions and be able to cover all organizational expenses. According to the
budget narrative, the salaries will total $165,000, which will only leave $35,000 to take care
of all other budget expenses. While the narrative is projecting $165,000 for salaries, the
total salary cost on the excel spreadsheet is $20,000 which will result in extremely low
annual salaries for all positions and will create a challenge in retaining talented staff. It is
tough to provide all the employees with a reasonable salary when you are working with
such a limited amount of annual revenue. In this case, positions would need to be
eliminated or programs would need to encounter severe cutbacks, which could have a
detrimental effect on the organization because the programs are in such high demand.
Do you think that the upcoming years actual will reasonably reflect what is in the budget
you are viewing?
If the projected income is received, I do believe that the actual will reasonably reflect what
is in the budget because there have not been that many major changes made and in the
past year, the organization came out with a low deficit of $4,250. Even though I believe the
organization can come close to the projected budget, they will most likely encounter two
issues. Due to the low salaries in regards to the staff, the organization will have a high
turnover rate due to the challenges of retaining employees. The second issue would depend
on the organization’s net assets. It seems with the projected income and expenses, the
organization will continue to end the fiscal year with a small surplus or a small deficit, which
will prevent the organization from creating any type of sustainability plan for the future.
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ReplyReply to Comment
Manage Discussion Entry
Is (or is not) the budget relevant to the mission? why?
– I believe that the budget is relevant to the mission of Jars of Clay, which aims to help
individuals and families face poverty, human rights and civil rights issues. About 48% of all
income is budgeted towards programming, 2% is budgeted towards administration and 50% is
budgeted towards fundraising. As Faye indicated, Jars of Clay is a small organization. It seems
like the organization is also in a growth stage or startup stage. As the organization continues to
grow, I can easily see more of the income being dedicated towards mission related endeavors.
Is the budget reasonable based on last year’s actual and the information in the narrative? (point
to specifics)
– I believe that the budget is somewhat reasonable and a bit conservative. The income
remained the same from FY16 actuals to the proposed FY17 budget ($200,000.00) The deficit
from FY16 however, was proposed to be wiped out and FY17 is supposed to end with a
$10,000.00 surplus. For an organization possibly in the startup or growth stage, this is certainly
a benefit. The only thing I really question is the salary expenses. There are three different
numbers mentioned across the narrative, program budget and salary calculations. If that issue
was rectified, I would be able to make a better determination as to if the budget was
reasonable or not.
Is the income feasible? (upon what is your assessment based?)
o
The income estimations draw a concern for me. With the exception of staff quarters, all
other revenue streams have a 50% or lower chance at being received. As I indicated above,
the income also remained the same at $200,000.00 from FY16 to FY17. Even if the
organization is in the startup or growth stage, it is still a concern. These issues would be
expected in the startup or growth stage, but the organization would still need to find new
revenue sources or expand on their current sources in order to survive. Faye also indicated
that all programs are vetted once a new funding source is considered. This is a great
practice that will no doubt help them down the line when more funding is acquired.
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Are the salaries comparable to others in the field and reasonable for the positions? (how
do you know this, What data specifically informed your evaluation of the question?)
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-It’s difficult to determine if the salaries are comparable to others in the field. A salary
breakdown is brought up in both the narrative and salary calculations tab. The salary
calculation numbers are more relevant to what The Salvation Army Corps Officers make
while the narrative numbers seem more reasonable for nonprofits in general across the
board. Either way, both salary breakdown totals are not reasonable for the Jars of Clay
overall budget. The narrative budgets for $165,000.00 in salaries while the salary
calculations tab budgets for $82,000.00. Both salary totals are much too large for an
organization with only a $200,000.00 overall budget. The program budget salary
number of $20,000.00 is more reasonable, although low. They organization could
perhaps lean on volunteers to make up for the low paid staff.
•
Do you think that the upcoming years actual will reasonably reflect what is in the budget
you are viewing? (if yes, why do you feel assured, if not, why not?)
•
– If the total budgeted salaries are indeed at $20,000.00 overall as indicated in the
program budget, then I believe the organization can be sustainable and reflect the
proposed budget accurately. There was a small deficit in FY16 and a surplus proposed
for FY17. As long as new funding sources are identified or increased, the organization
should continue to grow in a positive direction.
Program
Name
Joan Levy
Mike Sandoval
Sharon Bailey
Robert Thompson
Erica Mendez
Jemel Bryson
Position
Chief Executive Officer
Executive Vice President
Volunteer Coordinator
Fundraising Manager
Administrtive Assistant
Maintenance
Kids on the Go
10%
10%
40%
5%
10%
30%
105%
35.00%
Program
Peek Moments
10%
10%
40%
5%
10%
30%
105%
35.00%
General & Administrative
Fundraising
50%
30%
10%
20%
70%
40%
220%
36.7%
30%
50%
10%
70%
10%
0%
170%
28.3%
Toatal
100%
100%
100%
100%
100%
100%
600%
Name
Joan levy
Mike Sandoval
Sharon Bailey
Robert Thompson
Erica Mendez
Jemel Bryson
Position
Chief Executive Officer
Executive Vice President
Volunteer Coordinator
Fundraising Manager
Administrtive Assistant
Maintenance
Total Salaries
Salary
$250,000.00
$200,000.00
$52,500.00
$72,500.00
$47,000.00
$24,550.00
$646,550.00
25.27%
Total program salaries
Total g&a salaries
Total Fundraising
Total salaries
Name
Joan Levy
Mike Sandoval
Sharon Bailey
Robert Thompson
Erica Mendez
Jemel Bryson
Name
Joan Levy
Mike Sandoval
Sharon Bailey
Robert Thompson
Erica Mendez
Jemel Bryson
Total
$163,380.00
$247,470.00
$235,700.00
$646,550.00
Position
Chief Executive Officer
Executive Vice President
Volunteer Coordinator
Fundraising Manager
Administrtive Assistant
Maintenance
Position
Chief Executive Officer
Executive Vice President
Volunteer Coordinator
Fundraising Manager
Administrtive Assistant
Maintenance
Payroll Tax
$18,750.00
$15,000.00
$3,937.50
$5,437.50
$3,525.00
$1,841.25
Fringe Benefits
$48,175.00
$40,150.00
$16,476.25
$19,686.25
$15,593.50
$11,990.28
$152,071.28
Program
Intillectual Disabilities
Homelessness
$25,000.00
$25,000.00
$20,000.00
$20,000.00
$21,000.00
$21,000.00
$3,625.00
$3,625.00
$4,700.00
$4,700.00
$7,365.00
$7,365.00
$81,690.00
$81,690.00
25.27%
General & Administrative
$125,000.00
$60,000.00
$5,250.00
$14,500.00
$32,900.00
$9,820.00
$247,470.00
38.3%
$1,875.00
$1,500.00
$1,575.00
$271.88
$352.50
$552.38
$1,875.00
$1,500.00
$1,575.00
$271.88
$352.50
$552.38
$9,375.00
$4,500.00
$393.75
$1,087.50
$2,467.50
$736.50
$4,817.50
$4,015.00
$6,590.50
$984.31
$1,559.35
$3,597.08
$4,817.50
$4,015.00
$6,590.50
$984.31
$1,559.35
$3,597.08
$24,087.50
$12,045.00
$1,647.63
$3,937.25
$10,915.45
$4,796.11
$21,563.75
$21,563.75
$57,428.94
Fundraising
$75,000.00
$100,000.00
$5,250.00
$50,750.00
$4,700.00
$0.00
$235,700.00
36.5%
Toatal
$250,000.00
$200,000.00
$52,500.00
$72,500.00
$47,000.00
$24,550.00
$646,550.00
$5,625.00
$7,500.00
$393.75
$3,806.25
$352.50
$0.00
$18,750.00
$15,000.00
$3,937.50
$5,437.50
$3,525.00
$1,841.25
$14,452.50
$20,075.00
$1,647.63
$13,780.38
$1,559.35
$0.00
$48,175.00
$40,150.00
$16,476.25
$19,686.25
$15,593.50
$11,990.28
$51,514.85
$152,071.28
Variety Club Camp & Developmen Ctr Summary Budget
Revenue
Conrtibutions & Grants
Program Service
Other Revenue
Investement Income
Fee Income
Total Revenue
Expenses
Salaries
Fringe Benefits
Payroll Tax
Office Expense
Occupancy
Travel
Conference , Conventions, Meetings
Depreciation
Food & Dining
Insurance
Bad Debt
Program Supplies
Repairs & Maintenance
All other expenses
Other
Total Expenses
Net Totals
*all funds are unrestricted
*travel expenses were cut through increases virtual meetings
*Conventions/meetings cost were cut due to departmental collaboration
*Administrative Assistant resigned, position filled with volunteer
surplus due to decreased A/A salary, payroll taxes & fringe benefits
2018
Proposed Budget
2017
Actual
2017
Budget
417,000
885,000
112,500
37,000
27,900
1,479,400
$416,412.00
$883,483.00
$111,073.00
$36,778.00
$2,700.00
$1,450,446.00
$425,494.00
$885,000.00
$100,257.00
$37,750.00
$2,669.00
$1,451,170.00
$599,550.00
$37,554.00
$59,256.00
$45,000.00
$103,000.00
$10,000.00
$8,000.00
$145,000.00
$30,000.00
$109,700.00
$3,700.00
$82,000.00
$75,000.00
$62,000.00
$65,000.00
$646,550.00
$41,079.00
$74,849.00
$46,979.00
$102,794.00
$11,241.00
$9,310.00
$145,365.00
$30,535.00
$109,676.00
$3,750.00
$81,162.00
$75,651.00
$6,164.00
$64,166.00
$652,312.00
$40,250.00
$75,990.00
$44,598.00
$101,777.00
$11,200.00
$9,111.00
$144,000.00
$31,312.00
$107,951.00
$3,700.00
$82,000.00
$75,975.00
$6,500.00
$64,000.00
$1,434,760.00
$1,449,271.00
$1,450,676.00
$44,640.00
$1,175.00
$494.00
2016
Actual
2016
Budget
$369,663.00
$883,564.00
$100,000.00
$36,765.00
$2,980.00
$1,392,972.00
$366,998.00
$882,678.00
$99,745.00
$35,042.00
$2,500.00
$1,386,963.00
$670,291.00
$41,079.00
$74,849.00
$43,564.00
$100,600.00
$10,781.00
$91,898.00
$144,576.00
$31,112.00
$106,700.00
$3,690.00
$81,750.00
$74,557.00
$65,000.00
$53,218.00
$672,000.00
$41,000.00
$75,112.00
$45,688.00
$101,314.00
$10,997.00
$92,000.00
$142,300.00
$30,767.00
$105,170.00
$3,600.00
$80,198.00
$73,290.00
$63,743.00
$52,500.00
$1,593,665.00
$1,589,679.00
-$200,693.00
-$202,716.00
Sources, Types, and Amounts of Funds 2016 – 2017
Contributions
Source(s)
Hogs & Honey Foundation for Kids
Subtotals
Contributions
Amounts ($)
$
250,000.00
$
250,000.00
Source(s)
The Wawa Foundation
Subtotals
Contributions
Amounts ($)
$
210,000.00
$
210,000.00
Source(s)
Harriette & Charles Foundation
Subtotals
Contributions
Amounts ($)
$
391,200.00
$
391,200.00
Source(s)
Tabas Foundation
Subtotals
Contributions
Source(s)
Genuardi Family Foundation
Subtotals
Contributions
Amounts ($)
$
95,000.00
$
95,000.00
Estimated Values
$
55,337.00
$
55,337.00
Source(s)
Child Development Foundation
Subtotals
Grand Total
Amounts ($)
$
477,863.00
$
477,863.00
$
1,479,400.00
16 – 2017
Liklihood of Funding (%)
90%%
Liklihood of Funding (%)
100%
Liklihood of Funding (%)
100%
Liklihood of Funding (%)
100%
Liklihood of Receipt
50%
Liklihood of Funding (%)
40%
Variety Club Camp & Development
G&A
Revenue/Income Categories
Hogs and Honeys Foundation for Kids
The Wawa Foundation
Harriette & Charles Foundation
Tabas Foundation
Genuardi Family Foundation
Child Development Foundation
Revenue
$40,000
$20,000
$10,000
$5,000
$5,000
$80,000
$160,000
G&A
Expense Categories
Salaries & Benefits
Fringe Benfits
Payroll Tax
Office Expense
Occupancy
Travel
Conference,Conventions, Meetings
Depreciation
Food & Dining
Insurance
Bad Debts
Program Supplies
Repairs & Maintenance
All Other Expenses
Other
Expense Categories Sub-Total
Revenue After Expenses
Fundraising
$0
$0
$1,200
$0
$337
$0
$1,537
Fundraising
$247,470
$41,079
$74,849
$46,979
$102,794
$11,241
$9,310
$145,365
$5,000
$54,838
$3,750
$81,162
$75,651
$235,700
$0
$0
$0
$0
$0
$0
$0
$1,000
$54,838
$0
$0
$0
$64,166
$963,654
$0
$291,538
Intellectual Disabilities
$0
$0
$190,000
$10,000
$25,000
$198,932
$423,932
Programs
Hoemlessness
$210,000
$190,000
$190,000
$80,000
$25,000
$198,932
$893,932
Total (FYE)
$250,000
$210,000
$391,200
$95,000
$55,337
$477,863
$1,479,400
Total Revenue
Philly Scholars
Homelessness
$81,690
$0
$0
$0
$0
$0
$0
$0
$12,268
$0
$0
$0
$0
$81,690
$0
$0
$0
$0
$0
$0
$0
$12,268
$0
$0
$0
$0
$0
$93,958
$0
$93,958
Total Organization Expenses
$1,479,400
Total
$646,550
$41,079
$74,849
$46,979
$102,794
$11,241
$9,310
$145,365
$30,535
$109,676
$3,750
$81,162
$75,651
$6,164
$64,166
$1,449,271
BUDGET FY 2017
ACTUAL – DETAIL
FY 2016
BUDGET
FY 2016
Income
Program Fees
Rentals
United Way
Public Support
Hope House Atlanta
Other Income
Total Income
$
$
$
$
$
$
$
40,000
30,000
25,000
5,000
50,000
50,000
200,000
$
$
$
$
$
$
$
36,000 *See narrative note
27,000
22,500
4,500
45,000
65,000
200,000
Expenses
Salaries
Benefits and Payroll Taxes
Contracted Services
Food
Transportation
Program Supplies
Office Supplies/Tech
Professional Fees/Dues
Utilities
Insurance
Maintenance/Repairs
Building
Publications
Training/Conference
Travel
Misc
Depreciation
Total Expenses
$
$
$
$ …
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