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annual budget for the RTWMTC

You have been hired as an executive director of a small nonprofit organization. Among your many duties are to determine an annual budget and develop a fiscal plan for the organization.

For this assignment, you must develop a 2-page spreadsheet that you will deliver to the director and staff containing an annual generic annual budget for the RTWMTC. Using an income of 800,000 per year, you must answer the following questions:
- How many employees does the RTWMTC company have and what is the break down of their salaries (you may choose)
- What additional costs does RTWMTC have (include utilities, lease/mortgage, phone, etc.)?
- What is the surplus or deficit of the RTWMTC?

Solution Preview

Dear Board of Directors,

I have created an annual budget (Excel tab: Summary Annual Budget) showing that our expenses are below our projected inflows for the period by $5,227. This amount would be available to put aside into an operating reserves account for future periods if the collections did not cover expenditures for operating activities. Of course this budget is predicted on certain assumptions which are shown on the annual and monthly budget pages. If any of these are wrong, the budget would need to be adjusted and could be misleading in small or large ...

Solution Summary

Your tutorial is 341 words plus two reports in Excel, a monthly detail budget with assumptions and an annual budget showing the net operating activity and the increase to operating reserves fund. The shortfall during a few months of the year is discussed and suggestions made to address the issue.