Reference no: EM132719522
DIVISION EXPENDITURE HISTORIES AND DIVISION BUDGET REQUESTS FOR FISCAL Year 2021
One point is clear from the readings that focus on how budget decisions are made. The expenditure history of a department or division influences the spending request for the coming year. It is necessary for you, as a new division head, to familiarize yourself with the expenditure history of your division.
It is necessary also for you, as a division head, to make a budget request for FY 2021. Keep in mind that all changes in division budgets will be based on the merits of the budget proposals. No division is guaranteed any particular level of increase, although you may request inflation increases as explained in some of the items below. The Meridian City Council has made it clear; division budgets will decrease if current spending levels are not justified.
BUDGET REQUESTS
Question 1: Create the 2021 continuation budget by adding inflation to the 2020 amount for each of the following categories: Regular Salaries, Overtime Salaries, Contractual Services, and Supplies. Justify which percentage that you decide to use for inflation. Inflation is typically 1-2%, but the percentage increase is to your discretion. Be prepared to justify the percentage increase adopted.
Question 2: Compute the fringe benefit line for FY 2021 Request for Continuation by determining 25 percent of the total amount spent on current personnel. This is computed by adding the amounts for regular salaries, overtime salaries, and temporary salaries.
Question 3: Compute the total 2021 request for each line item by adding together the continuation budget, the expansion budget, and the new services budget.
Question 4: Determine the dollar request increase by subtracting the FY 2020 budget from the FY 2021 request.
Question 5: Compute the percentage increase by dividing the dollar increase requested for FY 2021 by FY 2020.
|
What amount will be recognized as net accounts receivable
: Wilton sells softball equipment. On November 14, they shipped $4000 worth of softball uniforms to Paola Middle School, terms 1/10, n/30. On November 21.
|
|
What is the least could pay to acquire a bill
: What is the least you could pay to acquire a bill? A Treasury bill has a bid yield of 1.97 and an ask yield of 1.93. The bill matures in 123 days.
|
|
Encourage shared decision making-communication strategies
: How to encourage shared decision making and communication strategies.
|
|
Determine equivalent units of production for conversion cost
: On March 1, 2019, Baltimore Company's beginning work in process inventory had 9,000 units. This is its only production department. Beginning WIP units were 50%.
|
|
Compute the total request for each line item by adding
: Compute the total 2021 request for each line item by adding together the continuation budget, the expansion budget, and the new services budget.
|
|
What is the journal entry for the given
: The FML Board of Directors had been working on the acquisition of a rival business and on the 16th January 20X4 received advice of acceptance of a purchase.
|
|
What are the benefits found when using the technique
: How widespread it is e.g. all types of organisations or only certain sectors? What are the costs/problems found when using this technique?
|
|
Promotion and pricing strategies
: Entrepreneurs must determine what to sell, to whom and how often, on what terms and at what price, and how to get the product or service to the customer
|
|
Construct a line plot of the stock prices
: Download the monthly (adjusted) closing prices for Microsoft stock (MSFI ) between January 1, 2000 and December 30, 2018. Hint: the finance section on Yahoo is.
|