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The Capital Budget - Research Paper Example

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The Capital Budget Name: Course: Professor: Institution: City and State: Date: The Capital Budget Payroll Forecast The benefits of increasing the council’s employee compensation include, most importantly, motivation. This will encourage the employees to become more productive…
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The Capital Budget
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Download file to see previous pages Furthermore, better compensation increases the employee morale, generally, given that the increase is awarded in an equitable manner. In other words, employee morale is boosted if the increase in compensation is awarded in respect to the level of productivity of individual employees rather than granting a blanket increment Figure 1: Projected increase in Revenue to to increase in compensation Trend Analysis As shown in figure 2, annual expenditure has been greater than revenues for the past several years until 2002 when an opposite trend was observed. Generally, the expenditure has been declining since 2008. This rate of decline has been most drastic from 2011, but the management seems to be effectively controlling the operating expenses because the gap between revenues and expenditure seems to be closing up. It is very important for the management to ensure that as the cost declines, good measures should be put to ensure that the contribution margin does not decline as well (City of Cincinnati Ohio, 2012). 2008 2009 2010 2011 2012 Expenditure 365,000,000 356,000,000 356,000,000 354,000,000 334,000,000 Revenue 357,500,000 338,500,000 337,000,000 337,000,000 337,000,000 Table 1: Expenditure trend Figure 2: Expenditure Trend Expenditure Forecast The health expenditure, which finances the services by the city’s health clinics to those patients that are qualifying has been declining since 2010 and it is expected to maintain a slight decline to 2017. This cost should be approached because, although it consumes a substantial proportion of the council’s budget, health services are very fundamental and furthermore the decline shows that the council has been undertaking a cost cutting measure (City of Cincinnati Ohio, 2012). 2010 2011 2012 2013 2014 2015 2016 2017 Health 23,574,570 19,450,210 20,128,510 19,256,458 19,126,895 19,100,568 18,458,000 18,456,123 Fire 92,832,430 98,662,160 94,358,450 93,125,145 92,125,256 92,125,365 91,125,458 90,125,456 Public servivce 22,291,010 20,015,980 19,963,240 19,256,125 18,125,456 18,125,100 17,124,896 17,100,125 police 139,110,860 146,175,220 132,888,620 135,568,456 125,456,256 120,124,562 119,136,100 118,256,362 Figure 2: Four of the highest expenditure (5 years forecast) The fire expenditure seems to be consuming a very big proportion of the council’s budget, however, this expenditure has reduced since 2010 and the forecast exhibits the same trend of reduction. Therefore, this budget will be approved. Public services have a trend very similar with health and the cost cutting measures are evident, therefore, it is likely to be approved. Finally, the police takes the highest share of the council’s budget. Given that security is very essential as it determines the success of all other activities, the high budget is justifiable. It is also evident that this figure has been on the decline since 2012 and there it is likely to be approved (Weiss & Mark, 1989). Capital Budget There are two methods of predicting the cost of needed repairs including qualitative and quantitative methods. The qualitative forecasting methods make use of judgements to predict cost. This method is most suitable when used in situations where the historical data is not available. Furthermore, availability of historical data is sometimes considered irrelevant because of significant changes that take place in the environmental conditions afflicting the pertinent time. For instance, it ...Download file to see next pagesRead More
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