Create the operating budget variance report for the fiscal year. Please use the attached General Ledger...
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Create the operating budget variance report for the fiscal year. Please use the attached General Ledger (Annex A) to create this report that should show the financial position in the 2020-21 fiscal year. Using the spreadsheet, you just created, enter the forecast for the period of April 2021 - September 2021 (half of the year) based on the average monthly expenses for the last year: a. Please document your assumptions. b. What do you notice? 2020-21 Fiscal Year Account Account Description Budget Actuals Personnel Budget 081-111010-0101 081-111010-0102 REGULAR PAY OVERTIME 6,581,156 5,044,044 187,316 1,174,509 081-111010-0103 081-111010-0104 SHIFT PREMIUM 35,000 107,356 VACATION PAYOUT 0 21,373 081-111010-0107 081-111010-0121 081-111010-0122 081-111010-0123 081-111010-0124 081-111010-0127 081-111010-0130 081-111010-0131 081-111010-0133 081-111010-0134 081-111010-0135 OTHER 24,175 96,924 REGULAR PAY 794,784 1,698,078 OVERTIME 70,400 585,943 SHIFT PREMIUM 0 69,544 VACATION PAY OTHER YUKON BONUS FRINGE BENEFITS SEVERANCE PAY 0 140,801 0 52,831 162,545 117,145 1,546,737 1,170,587 0 4,070 COMMUNITY ALLOW 0 740 STANDBY PAY 0 241 Other Budget 081-111010-0201 081-111010-0202 081-111010-0203 081-111010-0204 081-111010-0205 081-111010-0207 081-111010-0208 081-111010-0210 081-111010-0211 TRAVEL YT EMP TRAVEL OUT EMP TRAVEL YT NON 9,000 6,589 5,000 57,490 32,000 24,021 TRAVEL OUT NON 1,900 5,712 HONORARIA 14,000 1,485 PROF CONTRACT REPAIR & MAINT 777,100 578,782 53,000 57,489 RENTAL EXPENSE 33,000 40,899 SUPPLIES 126,000 135,887 081-111010-0212 POSTAGE & FRGHT 4,000 7,082 081-111010-0213 ADVERTISING 4,000 4,210 081-111010-0214 PROGRAM MAT 573,000 581,063 081-111010-0216 HEATING FUELS 147,000 245,246 081-111010-0217 ELECTRICITY 322,000 407,227 081-111010-0218 COMMUNICATIONS 47,000 54,587 081-111010-0219 NON CONSUM ASST 4,000 8,160 081-111010-0220 OTHER EXPENSES 6,000 28,970 081-111010-0222 HARD/SOFTWARF 38,000 107,472 Create the operating budget variance report for the fiscal year. Please use the attached General Ledger (Annex A) to create this report that should show the financial position in the 2020-21 fiscal year. Using the spreadsheet, you just created, enter the forecast for the period of April 2021 - September 2021 (half of the year) based on the average monthly expenses for the last year: a. Please document your assumptions. b. What do you notice? 2020-21 Fiscal Year Account Account Description Budget Actuals Personnel Budget 081-111010-0101 081-111010-0102 REGULAR PAY OVERTIME 6,581,156 5,044,044 187,316 1,174,509 081-111010-0103 081-111010-0104 SHIFT PREMIUM 35,000 107,356 VACATION PAYOUT 0 21,373 081-111010-0107 081-111010-0121 081-111010-0122 081-111010-0123 081-111010-0124 081-111010-0127 081-111010-0130 081-111010-0131 081-111010-0133 081-111010-0134 081-111010-0135 OTHER 24,175 96,924 REGULAR PAY 794,784 1,698,078 OVERTIME 70,400 585,943 SHIFT PREMIUM 0 69,544 VACATION PAY OTHER YUKON BONUS FRINGE BENEFITS SEVERANCE PAY 0 140,801 0 52,831 162,545 117,145 1,546,737 1,170,587 0 4,070 COMMUNITY ALLOW 0 740 STANDBY PAY 0 241 Other Budget 081-111010-0201 081-111010-0202 081-111010-0203 081-111010-0204 081-111010-0205 081-111010-0207 081-111010-0208 081-111010-0210 081-111010-0211 TRAVEL YT EMP TRAVEL OUT EMP TRAVEL YT NON 9,000 6,589 5,000 57,490 32,000 24,021 TRAVEL OUT NON 1,900 5,712 HONORARIA 14,000 1,485 PROF CONTRACT REPAIR & MAINT 777,100 578,782 53,000 57,489 RENTAL EXPENSE 33,000 40,899 SUPPLIES 126,000 135,887 081-111010-0212 POSTAGE & FRGHT 4,000 7,082 081-111010-0213 ADVERTISING 4,000 4,210 081-111010-0214 PROGRAM MAT 573,000 581,063 081-111010-0216 HEATING FUELS 147,000 245,246 081-111010-0217 ELECTRICITY 322,000 407,227 081-111010-0218 COMMUNICATIONS 47,000 54,587 081-111010-0219 NON CONSUM ASST 4,000 8,160 081-111010-0220 OTHER EXPENSES 6,000 28,970 081-111010-0222 HARD/SOFTWARF 38,000 107,472
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