Budgeting Essay

Published: 2017-12-27 15:55:30
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Essay on capital budgeting

In the budget logic model below, the planned work, include the input and activities while the intended results are the outputs and outcomes. The goal of the budget is to present to the audience the financial plan of how the music program manager aims to receive money and spend in meeting the program’s objectives over a specific period. It is important to note that the budget is itself a statement of allocation of the scarce resources with the aim of achieving the programs objectives over a specified fiscal period (Sinuany-Stern, 2014).

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The Logic Model

The budget logic model include the inputs which are used to run the activities to produce outputs which will be viewed and appreciated by the music lovers who will be entertained. The private contractor will earn revenue and the k-12 grade program managers realize some predetermined goals

Inputs or resources

Inputs may include the staff and volunteers as well as the time spent doing the activities. Other inputs include facilities, musical equipment, music teachers, composers, funds, and other materials. The inputs will drive the activities especially the money from the school district. A donation of $200,000 will suffice for each term.

Activities

These actions of the member’s k-12 grade students, music teachers, composers as well as arrangers will convert the input into output. They will compose music, rain and perform to audiences to both paying and non-paying. Other activities include the classes held, the events they hold such as music festivals, the mentoring that the k-12 grade students receive as well as music curriculum developed. The paying audience will pay for the services such as entertainment or buy goods such as the curriculum earning the program output in the form of revenue. Training costs will be $10,000 per students, trainers will be paid 10,000 per term, and other expenses will cost $50,000 per term

Output

The output includes musical performances, music curriculum developed, new music created and composed as well as demonstrations of the music knowledge during entertainment (Azzimonti, Battaglini, & Coate, 2016).

The outcome- S.M.A.R.T. Outcomes

The outcome include the skills the students gain, the knowledge that acquire as well revenue they earn from the entertainments. Other output may include donation, grants, and scholarship the school will benefit from the exposure and recognition for the successful music program management. The private contractor will provide the platform for performance and earn revenue. The charges for music festival will be $200 per person per day and will be opened for the public

Conclusion

The outcomes must be specific (financial outcomes), measureable (financially measured), achievable (can be earned through performance), realistic (within reach), and time bound (to be achieved over a set period).

References

Azzimonti, M., Battaglini, M., & Coate, S. (2016). The costs and benefits of balanced budget rules: Lessons from a political economy model of fiscal policy. Journal Of Public Economics, 136, 45-61. http://dx.doi.org/10.1016/j.jpubeco.2016.03.001

Sinuany-Stern, Z. (2014). Quadratic model for allocating operational budget in public and nonprofit organizations. Annals Of Operations Research, 221(1), 357-376. http://dx.doi.org/10.1007/s10479-013-1392-6

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