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Lesson 10. Managing Your Budget > An Example of Budget Analysis - Pg. 46

Managing Your Budget 46 Assume that you are new to the organization. You need to learn about past performance as a guide to developing next year's department budget. Plain English FY is short for fiscal year, a 12-month accounting period. Start with a table like the following example, which reflects a department staff of four and 10 line- item expenses. Assume that total department income in FY 1999 was $430,000 and is projected at $500,000 for FY 2000. Line Item Salary: Manager Benefits Expense: Manager Salary: Secretary Benefits Expense: Secretary Salary: Service Rep 1 Benefits Expense: Service Rep 1 Salary: Service Rep 2 Benefits Expense: Service Rep 2 Travel expense Budget FY 1999 $45,000 $6,300 $28,000 $6,300 $39,200 $5,180 $32,000 $4,480 $5,000 % of Total Budget FY 1999 26.30 3.70 16.40 2.30 21.70 3.00 18.70 2.60 2.90 % of Income FY 1999 10.50 1.50 6.50 0.90 8.60 1.20 7.40 1.00 1.20 Budget FY 2000 $48,000 $6,720 $30,000 $4,200 $39,500 $5,530 $34,500 $4,830 $5,850 % of Total Budget FY 2000 26.20 3.70 16.40 2.30 21.50 3.00 18.80 2.60 3.20