This assignment is due after 20 hours.

Group Assignment #3

Budgeting (100 points)

For this Group Assignment, please go to the People tab in Canvas to see your group members. Once you have identified and contacted your group, coordinate with them to complete this assignment. Please be sure to see all pages.

100 Points

Identify or create a sport or fitness organization for this assignment providing the name and description of the organization (i.e., purpose, mission).

5

What type of budget do you think is best for this organization?

5

Explain your rationale for selecting this type of budget.

5

Prepare a 2021-2022 budget for your organization.

Research and fill in the sections below. Then using that information, complete the budget sheet.

Gathering information

10

Forecast sales

10

Project profits and losses

10

Compare to industry norms

10

Capital needs

10

Complete the “Budget” column of the budget sheet.

35

[Company Name]

2021-2022 Budget

INCOME

Actual

Budget

Difference

Operating Income

Category 1

–

Category 2

–

Category 3

–

Category 4

–

Other

–

Total Operating Income

–

–

–

Non-Operating Income

Interest Income

–

Rental Income

–

Gifts Received

–

Donations

–

Other

–

Total Non-Operating Income

–

–

–

Total INCOME

–

–

–

EXPENSES

Operating Expenses

Accounting and Legal

–

Advertising

–

Depreciation

–

Dues and Subscriptions

–

Insurance

–

Interest Expense

–

Maintenance and Repairs

–

Office Supplies

–

Payroll Expenses

–

Postage

–

Rent

–

Research and Development

–

Salaries and Wages

–

Taxes and Licenses

–

Telephone

–

Travel

–

Utilities

–

Web Hosting and Domains

–

Other

–

Total Operating Expenses

–

–

–

Non-Recurring Expenses

Furniture, Equipment and Software

–

Gifts Given

–

Other

–

Total Non-Recurring Expenses

–

–

–

Total EXPENSES

–

–

–

Net Income Before Taxes

–

–

–

Income Tax Expense

–

NET INCOME

–

–

–