Budget Proposal for Strathmore Budgeters - Assignment Example

 Budget proposal for Strathmore budgeters This is a budget club that is run by students. The club creates organization committed to the improvement of students budgeting abilities. The club has an open membership system. Members meet once in a week usually on Fridays. The hosts and attends competitions put on by other private universities and sometimes state universities. The Strathmore budgeting club focuses on the following issues: a) Educating its members about budgeting, b) Creating an atmosphere that promotes fiscally and ethically upright individuals, c) Recruiting new members that are interested in budgeting. Currently the club has fifty members and it is always recruiting for more, to spread the ethic of good budgeting (United States, 1994). Description and justification of the event Guest speaker: the club would like to invite Mr. Fiscal as the guest speaker. Mr. Fiscal is a consultant who has been lecturing businesses on the importance of proper budgeting. He has written good articles in prominent magazines and newspapers like Washington post and the New York Times. The club hopes that Mr. Fiscal will share his experience, create a platform that will encourage budgeting discussion, and give informational presentation on how to come up with a precise budget. Each year, the club has facilitated in bringing a speaker and has registered tremendous success and this year is no exception. In addition, with the speaker the club intends to have catered meal for approximately 200 people and sale tickets (United States, 2005). Clubs end of the year performance and discussion: the second event that the club will put on involves the end of year extravaganza with complete budget discussion and training. This program will allow the members to meet and reflect on the previous fiscal year in a festive atmosphere. General operating supplies: the club is request money for all-purpose operating supplies. This assist the organization by helping the members perform as an organization. The following are the supplies that are used regularly: office supplies, reference material and photocopying. Budget Justification Agency Name: Strathmore budgeters club Proposal Name: Budget Proposal for Fiscal Year 2011-2012 Submitted By: Name Date: December 17,2012 Cost: Year Total General Fund Federal Fund State Funds Other 2009-2010 $505,029 $71,157 0 0 $433,872 2010-2011 $543,706 $32,000 0 0 $511,706 2011-2012 $545,888 $34,182 0 0 $511,706 Event projected expenses Account code Account Title Expenses Cost 25440 Misc. Service and sales income Ticket Sales 450 25441 Public relations/fund raising Catered meal 550 25442 Equipment rentals/ lease Sound equipment 200 25443 Performance fees Cost Mr. Fiscal 250 25444 Building rentals Mu ballroom 500 25445 Advertising Barometer Ads 200 25446 Duplicating and copying Photocopies 50 25447 General operating supplies Pens/ markers etc… 25 Total 1325 Expenses for the end of the year performance and discussion Account code Account title Expense Cost 25441 Public relations/ fund raising Food costs 200 25442 Equipment rentals/lease Sound equipment 100 25443 Performance fees Budget trainers 350 25444 Building rentals Mu ballroom 500 25445 Advertising Barometer Ads 265 25446 Duplicating and copying Photocopies/flyers 50 Total 1465 Expenses for the general operating supplies Account code Account title Expense Cost 25560 Books pubs and other ref Books and magazines 50 25446 Duplicating and copying Photocopies/flyers 100 25550 Postage Stamps 15 25559 General operating supplies Offices supplies 75 Total 240 Total expenses $ 3030 Approved, actual and requested Educational Activities Budget     Organization Name: Strathmore   Account Index: 254254254               Account   2008-2009 2009-2010 2010-2011 2011-2012 Code Account Title Approved Actual Approved Requested  25440 Misc. Sales and Service Income 300.00 425.00  450.00  450.00 Net Income Total 300.00 325.00 450.00 450.00  25559 General Operating Supplies 75.00 62.00 75.00 100.00 25560 Books Pubs. and Other Ref. Mat. 50.00 55.00 50.00 50.00  255570 Miscellaneous Supplies 25.00 25.00 25.00 25550 Postage 15.00 15.00 15.00 15.00  25442 Equipment Rentals/Lease 237.00 298.00 300.00 300.00  25444 Building Rentals 900.00 960.00 950.00 1000.00  25443 Performance Fees 600.00 600.00 600.00 600.00  25446 Duplicating and Copying 175.00 135.00 200.00 200.00  25445 Advertising 465.00 440.00 427.00 465.00  25441 Public Relations and Food 700.00 750.00 750.00 750.00               Total Expenses 3242.00 3340.00 3392.00 3480.00               Net Expenses 2942.00 2915.00 2942.00 3030.00   Amount (Over)/Under Budget   27.00 (This is an allowable 2.5% increase from previous year)   Percent of Budget Used   97.5%     Why the increase on the budget The club held a wide range of programs and events to educate the Strathmore University students’ body. The club has consistently and aptly spent money in accordance with the stipulated guidelines in the educational act (Partridge, 1977). The Strathmore budgeters would like to present a decision package because the club has been presented with a great opportunity. This great opportunity is the ability to hold a seminar in the county hall. This seminar will allow the organization to grow and develop its sway not only in the university but also in the community. The event will also be a good platform to recruit new members (Washington, 1977). Decision package 2008-2009 2009-2010 2010-2011 2011-2012 Account code Account title approved Actual Approved Requested 25441 Public relations and fund raising 150 100 150 200 25442 Equipment rentals and/lease 100 200 100 75 25444 Building rentals 200 170 200 225 25445 Advertising 50 100 100 80 Total expenses 500 470 550 580 Net expenses 500 470 550 580 References United States. (1994). Small Business Administration's budget request: Hearing before the Committee on Small Business, House of Representatives, One Hundred Third Congress, first session, Washington, DC, May 19 and 27, 1993. Washington: U.S. G.P.O. United States. (2005). Department of Veterans Affairs budget request for fiscal year 2006: Hearing before the Committee on Veterans' Affairs, House of Representatives, One Hundred Ninth Congress, first session, February 16, 2005. Washington: U.S. G.P.O. Partridge, L. G. (1977). An analysis of the budget request process used internally by the University of Wisconsin system to prepare and process the incremental budget requests of its senior institutions in preparation for the 1975-77 biennial operating budget request of the system. Madison, Wis: University of Wisconsin. The administration's international affairs budget request for fiscal year 1998: Hearing before the Committee on International Relations, House of Representatives, One Hundred Fifth Congress, first session, February 11, 1997. (1997). Washington: US Gov. Print. Off. Read More