Overview
Your team will draft a budget plan with justifications. Note that you likely worked on a similar plan in your Budget and Finance course so you may want to refer back to that for help with this assignment.
Your finance plan should address the following topics:
- What needs to be included in the budget?
- What contingencies need to be addressed?
- Where might funding come from?
There is not a specific budget that your office must stay within but your team should come up with something that is reasonable based on your level of government. Assume that draft budget plan will be presented for financial review to consider funding for the project. Unreasonable finance requests will be rejected.1) You do not need to account for income - you are asking for money, let the funders figure out how to fund your budget.
2) You do not need to include rent or water/gas/electricity. Office space will be provided, but you might need to consider other utilities and renovation costs.
3) Think about what costs you need initially but won't need in future years. For example, renovation and office equipment set up costs are needed the first year.
4) Think about office equipment - what will that include? Computers? Copy machines? Pens, paper & staplers? Etc.
5) Salaries should be compared to what is already out there in similar positions. I suggest you do a little research for comparison positions when figuring your justifications.
6) Staff should attend at least one conference and/or training. Be prepared to account for any costs associated with travel to that conference as well as any daily local travel.
Be prepared to justify all costs in your submission - Remember to submit your tasking in an appropriate format. I suggest using whatever format you have utilized for previous submissions.
A separate budget spreadsheet is not required - separate line sections can be incorporated into your tasking submission - but CAN be included as an attachment if you prefer.