Using the line item template provided, create an initial departmental budget for the upcoming fiscal year based on research and the assumptive facts of the scenario introduced in the final project document.
Your budget should reflect planned expenses and revenue by line item and by month of planned encumbrance. Be sure to state what compliance and regulatory requirements, if any, were considered. Annotate your line items. See instructions on line item template for how to annotate entries.
To complete this assignment, review the following documents:
- Final Project Guidelines and Rubric
- Milestone Two Guidelines and Rubric::: this is the rubric to follow step by step
- Budget Template
**** I am writing to provide two clarifying points to the Milestone 2 assignment this week. I am aware that there is confusion based on how the course was designed, and have communicated these issues to administration. That said, we will work together to problem solve!
For this assignment, keep these two things in mind:
1) You have the full budget to allocate. The budget you submit for this assignment is $1,628,000. We will do a budget reduction of 10% to respond to assumptive facts, but that will not happen until later in the course. So, spend away!
2) The individual staff salaries and total salary pool do not match up: for the purpose of this assignment, do not worry about the individual salaries: your total salary and benefits committed for your staff is $1,113,400. This needs to be a budgeted amount for your staffing plan to start the year.