What budgeting approach you take to prepare proposal

Assignment Help Business Management

Reference no: EM133630536

Problem

Case

You are the manager of a small local government youth center that provides a bunch of recreational and learning programs like swimming and backyard gardening. The local government manager has asked you to propose a budget to run the backyard gardening and swimming programs for the next two fiscal years starting from 2024. The goal of the program is to provide training to at least 100 youths per fiscal year.

You have been notified by the local government manager that the expenditure for these two programs is constrained and the dollar amount should not exceed $20 million per year. The manager also informed you that the constrained expenditure amount will not be adjusted in the second year considering a 2% economic inflation. The youth center has the legal authority to charge fees to those who attend those programs. Additionally, the youth center space is leased from a third party for $200,000 per year. Please note that the youth center has an outdoor swimming pool and 5000 sqft of open space. (You can assume different estimates or follow the current economic information like minimum hourly wage or market price of necessary equipment).

Based on this information answer these prompts:

1. Briefly describe what budgeting approach would you take to prepare the proposal.
2. Use a spreadsheet following the type of budgeting approach you take.
3. Justify your revenue and expenditure proposals in the budget.

Reference no: EM133630536

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