Question

Research a governmental unit or not-for-profit unit of your choice and locate its recent annual budget. What are the three largest projected revenues and the three largest expenditures? Which line items show the greatest increase over the prior year’s budget? What does reviewing this budget tell you about the entity?

Answer 1

I chose my school Talent Rising Public School for my budget research, which is a not for profit unit. Budget for year 208 is as follows-

Receipts-

1. Government Aids                                                                           $1000,000
2. Fee from students                                                                                10,000
3. Sales of stationary 4,000
4. Rent income from school building 25,000
5. Income from investments 6,000
6. Other receipts 5,000

Total   $150,000

Expenditure-

1. Purchase of furniture and other capital assets $15,000
2. Salaries and other benefits to teachers and staff                               60,000
3. Purchases of stationery 25,000
4. Expenses on utilities                                                                           30,000
5. Expenses on teacher training 10,000
6. Other miscellaneous expenses 10,000              

Total $150,000

Three major Receipts and expenditure are as follows-

1. Receipts

1.Schools receipts big amount of government aids for give education facility to poor and needful students.

2.School also charges a normal school fee from studentsexcepts poor and needful students.

3.Schools are earning a very good rent income from his school building and ground..

Expenditure-

1.    School are procuring various type of furniture for students and staff.

2.    School l pay also huge amount of his budget on teachers and staff salary.

3.    School require to pay big amount on his utilities like electricity, water charges, cleaning charges etc

In current budget following item increase from last budget

1. Income from renting out school building and ground increase by $15,000 than pervious budget.
2. To improve education quality and uses of new innovation in education school increase his expenses by $8,000 than previous year.

Reviewing budget of year 2018-

After analysis of above we can say that Talent rising school is nonprofit based unit. The main purpose is our school is to provide qualitative primary education service to general public at reasonable cost. A school also performs some business nature functions to earn money like renting out schools property etc.