Expand your one year departmental budget to a five year plan with the following assumptions:
1. Starting with year two, increase all personnel related line items by 2% per year through year five.
2. Starting with year two, assume a 5% increase in all other line items through year five.
3. Use Excel and it's formula capability to build this expanded budget.
| Departmental Budget Template |
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|
|
|
|
| Direct Expense |
Actual |
Projected |
% Change |
| Faculty Salaries |
$46,000.00 |
$47,500.00 |
3.26% |
| Staff Salaries |
$42,000.00 |
$43,000.00 |
2.38% |
| Fringe Benefits |
$9,000.00 |
$9,300.00 |
3.33% |
| Teaching Assistants |
$5,000.00 |
$5,080.00 |
1.60% |
| Office Supplies |
$9,500.00 |
$10,000.00 |
5.26% |
| Rent Expenses |
$4,500.00 |
$5,000.00 |
11.11% |
| Utilities |
$1,200.00 |
$1,100.00 |
-8.33% |
| Phone |
$3,000.00 |
$3,300.00 |
10.00% |
| Travel |
$2,800.00 |
$3,000.00 |
7.14% |
| Misc Expenses |
$2,500.00 |
$2,650.00 |
6.00% |
| Meals |
$1,500.00 |
$1,650.00 |
10.00% |
| Total |
$127,000.00 |
$131,580.00 |
3.61% |
| Departmental Budget Template |
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|
|
|
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| Increament in budget from II nd year |
|
5% |
|
|
|
| Direct Expense |
Actual |
Projected |
Projected |
Projected |
Projected |
% Change |
| Faculty Salaries |
$44,000.00 |
$46,000.00 |
$48,300.00 |
$50,715.00 |
$53,250.75 |
4.55% |
| Staff Salaries |
$38,000.00 |
$42,000.00 |
$44,100.00 |
$46,305.00 |
$48,620.25 |
10.53% |
| Fringe Benefits |
$9,000.00 |
$9,500.00 |
$9,975.00 |
$10,473.75 |
$10,997.44 |
5.56% |
| Teaching Asistants |
$2,000.00 |
$1,500.00 |
$1,575.00 |
$1,653.75 |
$1,736.44 |
-25.00% |
| Office Supplies |
$9,500.00 |
$10,500.00 |
$11,025.00 |
$11,576.25 |
$12,155.06 |
10.53% |
| Rent Expense |
$4,500.00 |
$5,000.00 |
$5,250.00 |
$5,512.50 |
$5,788.13 |
11.11% |
| Utilities |
$1,200.00 |
$1,100.00 |
$1,155.00 |
$1,212.75 |
$1,273.39 |
-8.33% |
| Phone |
$3,000.00 |
$3,800.00 |
$3,990.00 |
$4,189.50 |
$4,398.98 |
26.67% |
| Travel |
$2,800.00 |
$3,000.00 |
$3,150.00 |
$3,307.50 |
$3,472.88 |
7.14% |
| Misc Expenses |
$2,500.00 |
$2,800.00 |
$2,940.00 |
$3,087.00 |
$3,241.35 |
12.00% |
| Meals |
$1,500.00 |
$1,800.00 |
$1,890.00 |
$1,984.50 |
$2,083.73 |
20.00% |
| Total |
$118,000.00 |
$127,000.00 |
$133,350.00 |
$140,017.50 |
$147,018.38 |
7.63% |