Budgeting is important not only for businesses. Also in our personal lives we have scarce resources, especially money and time, but also other resources like for example cell phone data, use of the family computer or family TV set, access to childcare etc. Our college prepares annual budgets as well. Please look at page 10, the Unrestricted General Fund and share your observations about at least 2 line items of your choice. Compare the 2020/2021 budgeted amounts with the 2019/2020 actual amounts. What are the differences (or similarities) that you can observe.
Budgeting is important not only for businesses. Also in our personal lives we have scarce resources, especially money and time, but also other resources like for example cell phone data, use of the family computer or family TV set, access to childcare etc. Our college prepares annual budgets as well. Please look at page 10, the Unrestricted General Fund and share your observations about at least 2 line items of your choice. Compare the 2020/2021 budgeted amounts with the 2019/2020 actual amounts. What are the differences (or similarities) that you can observe.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Budgeting is important not only for businesses. Also in our personal lives we have scarce resources, especially money and time, but also other resources like for example cell phone data, use of the family computer or family TV set, access to childcare etc. Our college prepares annual budgets as well. Please look at page 10, the Unrestricted General Fund and share your observations about at least 2 line items of your choice. Compare the 2020/2021 budgeted amounts with the 2019/2020 actual amounts. What are the differences (or similarities) that you can observe.
![Santa Barbara City College
Unrestricted General Fund - Fund 11
Page.l0
2019-20
2019-20
2020-21
Adopted
Un-Audited
Adopted
Budget
Actual
Budget
Revenue
1 Federal Revenue
$0
SO
$0
1
2 State Revenue
45,087,000
44,812,875
42,849,000
3 Local Revenue
54,916,500
55,378,095
49,068,800 3
4 Total Revenue
$100,003,500
$100,190,970
$91,917,800
4
Expenses
5 Certificated Salaries
$45,085,055
$44,403,290
$41,206,303 5
6 Classified Salaries
21,933,588
22,198,830
21,121,993 6
7 Employee Benefits
23,411,007
22,952,585
22,960,129 7
8 Materials & Supplies
1,464,475
1,087,242
1,621,255 8
9 Operating Expenses
10,068,175
9,647,499
8,980,042 9
10 Capital Outlay
378,500
493,804
423,100 10
11 Total Expenses
$102,340,800
$100,783,250
$96,312,822 11
Transfers & Other
12 Transfers In
$0
400,000
$1,575,000 12
400,000 13
13 Other Sources
420,101
14 Transfers out
(1,300,000)
(2,244,542)
(2,505,000) 14
0.00 15
15 Contingency
16 Other Out Go
17 Total Transfers/Other
0.00
(16,390)
($916,390)
(7,664)
($1,832,105)
(10,000) 16
($540,000) 17
Fund Balance
18 Net Change in Fund Balance
($3,253,690)
($2,424,385)
($4,935,022) 18
19 Beginning Balance, July 1
Adjustments to Beginning
20 Balance
21 Net Fund Balance, June 30
27,761,217
27,761,217
25.336,832 19
O 20
$20,401,810 21
$24,507,527
$25,336,832](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc61af963-5b43-4bd9-a315-77ef335402a7%2F2aaed781-0aa8-47a5-994f-dc41b8a12be6%2F4j0nqn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Santa Barbara City College
Unrestricted General Fund - Fund 11
Page.l0
2019-20
2019-20
2020-21
Adopted
Un-Audited
Adopted
Budget
Actual
Budget
Revenue
1 Federal Revenue
$0
SO
$0
1
2 State Revenue
45,087,000
44,812,875
42,849,000
3 Local Revenue
54,916,500
55,378,095
49,068,800 3
4 Total Revenue
$100,003,500
$100,190,970
$91,917,800
4
Expenses
5 Certificated Salaries
$45,085,055
$44,403,290
$41,206,303 5
6 Classified Salaries
21,933,588
22,198,830
21,121,993 6
7 Employee Benefits
23,411,007
22,952,585
22,960,129 7
8 Materials & Supplies
1,464,475
1,087,242
1,621,255 8
9 Operating Expenses
10,068,175
9,647,499
8,980,042 9
10 Capital Outlay
378,500
493,804
423,100 10
11 Total Expenses
$102,340,800
$100,783,250
$96,312,822 11
Transfers & Other
12 Transfers In
$0
400,000
$1,575,000 12
400,000 13
13 Other Sources
420,101
14 Transfers out
(1,300,000)
(2,244,542)
(2,505,000) 14
0.00 15
15 Contingency
16 Other Out Go
17 Total Transfers/Other
0.00
(16,390)
($916,390)
(7,664)
($1,832,105)
(10,000) 16
($540,000) 17
Fund Balance
18 Net Change in Fund Balance
($3,253,690)
($2,424,385)
($4,935,022) 18
19 Beginning Balance, July 1
Adjustments to Beginning
20 Balance
21 Net Fund Balance, June 30
27,761,217
27,761,217
25.336,832 19
O 20
$20,401,810 21
$24,507,527
$25,336,832
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