Budget Essay As a young man straight out of college, my options are minimal. I only make $38,278.9 a year. And on my budget, I only have $3,189.9 to spend a month. But with the correct budgeting skills, those three thousand dollars can go a long way. The first things I have to pay are taxes which are necessity. After those have been deducted, and my government aide has been added, I have roughly $3,000 left. Next on the expense list is a form of transportation, a form of communication, and food. With me living right by my work and renting out my parents’ house with a roommate, I can take public transportation and pay rent for a total of less than $200. Then my food expenses are only $82, and my phone plan is $70 a month. With all of my expenses combined, I can live happily for only $500 a month and still have roughly $2500 left for whatever I may need. Now as a chemical engineer making $94,350 a year, I have a little more wiggle room in my budget. To my surprise, having larger income means I have to pay more taxes. So instead of the 15% before, I now have to pay 20%. So after taxes and social security is deducted, I have $5911.12 to play with. But since I am a smart budgeter, I set aside 10% of my income a month for social security. Next to come is a house. I have a nice 3 bedroom 2 bathroom house in Denver, Colorado that I and a roommate split the rent on. I only pay $850 a month with cable, washer, dryer, dishwasher and all other necessary utilities included. In this particular house, it has a gas stove but I don’t have to pay a monthly gas bill which I thought I would have to. However, I have to pay $137.5 additionally for water and electricity. This also surprised me because I thought in rentals, water and electricity were included. Since a little more money is in my budget, I can afford a decent car. So I bought a fuel efficient Lexus ES that cost $739 plus $225 for gas a month.
Class Notes for February 5th
A budget is a plan for getting and spending money to reach specific goals by a certain time.
A budget is a plan.
Four Rules for Budgets and Plans
Rule #1 – A budget is a plan for spending money to reach specific goals within a certain time period.
Rule #2 – Any budget is only as good as the time, effort, and information people put into it. Good budgets foster collaboration and exchange of information among all levels of the team.(From informal and…
occurrence of a rising budget deficit as a result of a weaker economy and an interruption of a government spending on priority areas such as health, education, transport and defense.
Kohut (2012) stated that the budget deficit stands out as one of the fastest growing priorities for Americans, rising 16 percentage points since 2007 and ranking third with 69 percentages. However, the findings of the most recent survey that is conducted by the Pew Research Center confirm that the budget deficit has slipped…
South University Online
Democracy or Communism?
On March 11, 2011, Governor Scott Walker signed into law the Budget Repair Bill, which calls for sweeping changes in the law relating to public sector employee relations. Governor Walker claims that Wisconsin is broke even though the state faced a larger deficit in the last budget and approached it with responsible cuts that protected vital services like education, health care and public safety. The bill includes language…
The budget size for the year 2013-14 is Tk 222,491 crore. The budget is 16 % higher from the current fiscal year. The revenue target of the budget has been set at Tk 1,67,459 crore while the budget deficit will be Tk 55,032cr, which is 4.6 % of the gross domestic product. Of the revenue, Tk 1,36,090cr is expected from NBR tax revenue, Tk 5,129 crore from non-NBR tax revenue and Tk 26,240cr from non-tax revenue. The government expects Tk 6,670cr in foreign grants.…
Phase 4 DB
September 14, 2013
Operational Budget with addition of 4 new areas
The Krona Community Hospital, established in 1977, is a 60-bed, acute care hospital located in Banconota County. They currently offer a full range of health care services and maintain a staff of almost 100 physicians and specialists, 400 employees, as well as numerous volunteers. They are currently fully accredited by The Joint Commission.
A private, not-for profit health care chain…
Patton-Fuller Community Hospital Budget
Over the years financial management has been a concept that is flourishing in the world of health care. “Until the 1960s, financial management in all industries was generally viewed as descriptive in nature, with its primary role being to secure the financing needed to meet a business’s operating objectives” (Gapenski, 2008, pg.26). However, today, financial management holds a more significant role in the management of businesses overall. “Now, the primary…
Budgeting is a part of everyone’s daily life. People budget their time in a day to complete tasks or budget their paychecks to ensure they can cover all their necessary expenses. Most people struggle with balancing their expenses to cover necessities, along with expenses to enjoy life’s extras on the weekends. To afford those extra expenses, one must plan and research to get the best possible deals. While budgeting and planning for a fun-filled weekend can be time consuming, the memories made are…
The Impacts of Budget Cuts &Equal Opportunity on Students
I never really gave budget cuts much thought. It only fully hit me when I first decided to walk into USM’s campus library to check out some “popular reading.” I was so excited because I had just bought a new book from Barnes and Nobles and it cost me a small fortune, so free books were a melody that sores my ears. So I walked through the front sliding doors of the campus library with an excited little bounce only to find out that the popular…
July 29, 2013
Corporations need careful financial statements to achieve his or her objectives. Business’s carry out financial plans and assessments along with possible expenses for the profits on behalf of a precise phase to settle on the majority of well thought-out and efficient lines of attack for manufacturing the cash and changing material goods. Finances agree to industries identifying with command to his or her costs and to assign funds to make…
tool to track variances throughout the year
IT Systems Utilized
Work with Director of Administrative Services in IT to prepare The Vault application for the upcoming budget year.
Create New Budget in Great Plains
1. Cards | Financial | Budgets
2. Find 2012ADJ
3. Excel | Export to Excel
4. New Workbook
5. Excel | Import Excel
7. Choose – A new budget
8. Info Screen
a. ID = 2012VAULT
b. Desc = 2012/2013 Vault
c. Fiscal Year = Default…