1. Complete the budget template provided to you, including TV advertising
2. explain each marketing activities Why and How Much you allocated
3. Explain The benefits of TV advertising campaign
4. Prepare again the budget template without the TV advertising
|
2015 - 2016 FY Budget vs. Actual
|
2015/16 Budget 2015/16 Actual Variances
|
Variance %
|
|
Marketing Activity
|
|
Web site redesign
|
$7,000 $7,000 $0 |
0.0%
|
|
Incentive scheme
|
$2,400 $4,400 $2,000 |
83.3%
|
|
Education Expo
|
$3,300 $3,500 $200 |
6.1%
|
|
2016 Promotional brochure
|
$1,500 $1,500 $0 |
0.0%
|
|
Commuity sponsorhip
|
$2,000 $2,000 $0 |
0.0%
|
|
Radio advertising
|
$10,000 $10,000 $0 |
0.0%
|
|
Contingency amount
|
$800 |
|
|
Total
|
$27,000 $28,400 $1,400 |
5.2%
|
Requirements:
1. Budget vs. actual variances chart (tab 3 "Budget vs. Actual 201516" in Spreadsheet 1)
Overall level of variance, as well as variance on individual marketing activities
- Identify any expenditure overruns
- Justifications on expenditure overruns
2. Compliance
- Identify any expenditure made in breach of the company Finance Policy and Procedure
- Identify any potential breach of record keeping obligation the company owes to the Australian Taxation Office (ATO) and for audit purposes
3. Recommendations
- Proposed solutions to manage and monitor expenditure within budget in 2016-2017 financial year
- Recommendations on improvement of the company Finance Policy and Procedure.