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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.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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