Description
There are many costs associated with running higher education institutions. Most often, colleges have many more wants than they can afford to fund. Such costs include faculty and administration salary and benefits, physical plant maintenance, association and accreditation memberships, compliance, legal matters, etc.
Develop an outline to serve as justification for an annual budget. Imagine you will present this budgetary outline to the governing board for approval. Consider all aspects of the institution (some of which are listed above in the weekly introduction) as you prepare the professional outline. Be sure to relate the choices made to the mission of the institution, and the vision it projects.
Length: 4 pages, not including the title and reference pages
References: Support your work with a minimum of five scholarly resources referenced on a separate page at the end of your budget outline.
Explanation & Answer
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Running head: BUDGET OUTLINE
Budget Outline
Name
Institution
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BUDGET OUTLINE
Abstract
This is a proposed budget outline for the University for the year 2019. This budget outline
has considered many factors and has tried to minimize the cost and expenses of the University
for Efficiency Purposes ("national Budget Law has eliminated public spending overruns," 2019).
The budget consists of more information about the items; it contains some proposed figures
expected if the budget is passed and also provides explanations on the expenses. The budget
includes details on admission salary and benefits, associations, physical university maintenance,
legal matters, and even the incredible memberships (Demarest, 2017). This budget is proposed,
and therefore there is room for a few adjustments.
Personnel
Request
Match
Total
salaries and wages
Principal Investigator
One-fourth time academic
year
(1/4 x $45,000)
Full-time summer, 2 months
(2/9 x $45,000)
Senior Investigator
One-half time academic year
(1/2 x $36,000)
Full-time summer, 2 months
(2/9 x $36,000)
Student Help (2 students)
500 hrs/student at $7/hour x
2
Laboratory Technician
One-fourth time, 12 months
(1/4 x $40,000 annual salary)
TOTAL SALARIES AND
WAGES
$11,250
$10,000
$11,250
$10,000
$18,000
$18,000
$8,000
$8,000
$7,000
$7,000
$10,000
$10,000
$35,000
$29,250
$64,250
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BUDGET OUTLINE
fringe benefits
Doan-AY-38%
Doan-Sum-38%
Chambers-AY 38%
Chambers-Sum-38%
Student Help-2.5%
J. Hall-Annual-38%
TOTAL FRINGE
BENEFITS
TOTAL PERSONNEL
permanent equipment
Special Equipment
Signal Generator (ABC
Model 606A)
H.F. Receiver (ABC Model
880)
Oscilloscope (XYZ Model
130C)
TOTAL EQUIPMENT
$4,275
$3,040
$175
$3,800
$10,815
$11,115
$4,275
$3,800
$6,840
$3,040
$175
$3,800
$21,930
$45,815
$40,365
$86,180
$3,800
$6,840
$1,350
$1,350
$1,575
$1,575
$695
$695
$3,620
$3,620
$1,200
$1,200
$1,000
$1,000
$2,200
$2,200
expendable supplies and
materials
Travel
2 trips to AASCU
Washington D.C. at $600/trip
(to discuss and present
results of research) ($350
airfare, $200 hotel and per
diem, $50 misc.)
2 trips to Chicago at
$500/trip (to attend the
Amer. Phys Society Meeting)
($200 mileage, $200 hotel,
$100 per diem)
TOTAL TRAVEL
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BUDGET OUTLINE
Computer Costs (Show
name and model number of
Computer, number of hours,
hourly rate, and indicate if
the rate has the approval of
DCAA Auditor.)
IBM 7094, 20 hours at
$210/hour. Auditor
approved.
TOTAL COMPUTER
COSTS
$4,200
$4,200
$4,200
$4,200
$480
$480
$480
$480
Consultant (4 days at
$250/day)
$1,000
$1,000
TOTAL DIRECT OTHER
COSTS
$1,000
$1,000
publication and report costs
8 pages in Physical ReviewJournal at $60/page.
TOTAL PUBLICATION
COSTS
other direct costs
(Itemize and show the basis
for anticipated direct costs
not included above.)
TOTAL DIRECT COSTS
INDIRECT COSTS
(Rate as negotiated by UW
System and DHHS) The
current rate is 40% of Total
Personnel
Sponsor Support 40% x
$48,815
Cost Sharing 40% x $40,365
TOTAL ESTIMATED
COSTS
$57,315
$40,365
$19,526
$76,841
$97,680
$19,526
$16,146
$56,511
$16,146
$133,352
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BUDGET OUTLINE
The Legislature gives our college the obligation regarding directing eight distinctive
budget territories. Notwithstanding the fundamental grounds activities of the college, the
presi...
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