First Writing Assignment:
Plan how you will meet the financial needs of your term project. In a three to four page paper model the costs of the target project. There are usually three major cost categories: personnel costs, non-personnel costs, and capital expenditures. Personnel costs include both persons directly employed by the organization and consultants. Costs for employees include both salaries/wages and benefits. Currently benefits such as social security, workers compensation, and especially health insurance account add an additional 45% to personnel costs so be sure to account for them. Non-personnel costs include utilities, rent, consumable supplies, transportation, training and development etc. Capital expenditures include major purchases such as buildings or expensive equipment.
Budgets are sometimes divided into "sunk costs" and "program expenditures". "Sunk costs" are those that are ongoing no matter how many services are provided. They include such things as upper level administration and their clerical support, building costs, and equipment. "Program expenditures" are contingent on participation and vary by the number of people served. Examples of program expenditures include consumable supplies for an educational program, food for children in child care, or staff requirements to meet required client to staff ratios.
This assignment requires you to provide a narrative explanation of the expense budget for your chosen mission, and an itemized chartsetting forth those expenses in an organized fashion.
I hope this will be less confusing than trying to list all those guidelines as an additional reading requirement for this assignment.
Second Writing Assignment:
Creating an Income Budget
You have now created an expenditure budget for your target program based on your own best estimates of likely expenditures taking care to make your budget realistic. In fact, you may even have three budgets...the ideal version, the realistic version, and a bare minimum version. You have presented this budget to the professor and are comfortable with it.