I am having the worst time with this. Even after reading the material several times I a very lost. Any help would be great.
The Department of Education has awarded your agency with grant funding of $1.6 million to provide training programs to high school dropouts. The funded programs are a basic work skills training program and a vocational program. You are preparing a budget matrix to present to the awarding agency. The matrix budget consists of line-item, functional, and program budgets.
Operating Expenses: Per Year
Rent
$125,000
Utilities
$100,000
Office supplies
$25,000
Equipment/lease
$50,000
Transportation and travel
$100,000
Outside consultants
$100,000
Overhead costs
$100,000
Personnel expenses: Annual Salary Number of FTEs
Executive director
$100,000
1
Training supervisor
$80,000
1
Trainers
$50,000 10
Administrative coordinator
$45,000 1
Administrative staff
$25,000 3
Employee-related benefit expenses @ 25%
$200,000
All costs excluding the salary of the executive director and training supervisor will be allocated according to this formula:
60% to basic skills program
40% to vocational program
Number of eligible students: 1,000
Use the information above to create each of the following:
1. A line-item budget table showing all associated costs implementing the training programs.
2. A combined functional and program budget to calculate all costs per enrolled student.
IT seems to me to be straightforward. What is your question about it? Frankly, I would use a spreadsheet, is is so much easier with built in formulas.
No one here seems to be able to help with the question about this assignment LOL I have read several responses and the answers are either evasive or outright telling people we won't do your assignment...I am not looking for anyone to do my assignment but to help with understanding how to do it...if you are unable to help because you don't understand the material yourself then just don't respond...why make someone who is already struggling feel ignorant...which by the way all of us are ignorant about somethings!
To create the line-item budget table showing all associated costs for implementing the training programs, you need to list all the expense items and their respective costs.
Here's an example of how you can organize the line-item budget table based on the given information:
Line-Item Budget Table for Training Programs:
Operating Expenses:
- Rent: $125,000
- Utilities: $100,000
- Office supplies: $25,000
- Equipment/lease: $50,000
- Transportation and travel: $100,000
- Outside consultants: $100,000
- Overhead costs: $100,000
Personnel Expenses:
- Executive director annual salary: $100,000
- Training supervisor annual salary: $80,000
- Trainers (10) annual salary: $50,000 each (total: $500,000)
- Administrative coordinator annual salary: $45,000
- Administrative staff (3) annual salary: $25,000 each (total: $75,000)
- Employee-related benefit expenses (25% of personnel expenses): $200,000
Total Expenses for Training Programs:
- Operating Expenses Total: $600,000
- Personnel Expenses Total: $1,025,000
- Overall Total: $1,625,000
Note: The costs mentioned are based on the given information. Make sure to double-check the details and adjust the table accordingly.
Next, to calculate all costs per enrolled student and create the combined functional and program budget, you will need the number of eligible students and allocate the costs accordingly.
Given:
Number of eligible students: 1,000
To calculate the costs per enrolled student, you will need to divide the total expenses by the number of eligible students. In this case, we start by dividing the expenses between the basic skills program and the vocational program based on the allocated percentages.
Functional and Program Budget:
Basic Skills Program:
- Total Expenses: $1,625,000 * 60% = $975,000
- Cost per Enrolled Student: $975,000 / 1,000 = $975
Vocational Program:
- Total Expenses: $1,625,000 * 40% = $650,000
- Cost per Enrolled Student: $650,000 / 1,000 = $650
In summary, the combined functional and program budget for the training programs would be as follows:
- Basic Skills Program: $975 per enrolled student
- Vocational Program: $650 per enrolled student
Note: The costs per enrolled student are calculated based on the budget allocation percentages and the number of eligible students.