Riordan Manufacturing In Amended Budget

Feb 3rd, 2012
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Riordan Manufacturing In Amended Budget

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Amended Riordan Manufacturing IT BudgetThe IT department of Riordan Manufacturing is required by the Executive Board to cut their overall budget by two percent while increasing the budget for software, hardware and outside support service by four percent. While increasing budget is easy reducing on other areas to supplement the cut is a challenge. IT department has to make sure that the requirement be met without harm to personnel and overall operation. This paper will analyze the current budget and justify the needs and appropriate adjustment.Figure 1 - Riordan Manufacturing current IT BudgetCurrent BudgetRiordan's existing IT annual budget is $1,901,300. These are allocations for compensation such as wages, benefits and bonuses amounting to $1,567,750 and other expenses of $333,500.The board wants to cut it down by two percent which brings to $1,863,274. While the overall budget is reduced they want to increase the budget on important areas such as Contracts, Hardware, Leased lines, Maintenance and Software licenses by four percent.Proposed BudgetAfter applying the increase on line items (Contracts, Hardware, Leased lines, Maintenance and Software license) and the decrease in other non-important items such as Special Projects, Travel and Entertainment , the Grand total should be $ 1, 863,274.We increase the required item as stated and it is highlighted in green on the Amended table or spreadsheet. The total increase on all the required items is amounted to $5,884

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