Your organization is heading into the 3rd quarter of your fiscal year, and you need to start

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Your organization is heading into the 3rd quarter of your fiscal year, and you need to start planning for your 2021/2022 budget. You need to make recommendations to your Executive Director and to the organizations Board of Directors regarding budgetary adjustments that need to take place in this fiscal year and recommend possible changes to the budget for the coming fiscal year. Scenario Our province’s COVID-19 distancing measures resulted in your organization’s need to close its doors for 3 months. As you ease back into more typical face-to-face operations, your costs for PPE have increased substantially, you have had two staff go on Short Term Disability due to stress and anxiety related to the pandemic, and you are also noting an increased absenteeism since returning to the physical work space. You need to replace these front-line staff when they are off sick, as they provide direct services to people in your community. Adaptations to your workplace environment have taken place and most employees are able to work from home for portions of their week, which has necessitated the purchase of cell phones and new laptops for your team (computers coming from your program budget). You have seen a reduction in costs for electricity in your place of work. Some of your typical expenses are low for the year, as activities have changed. Your core funding from the Provincial Government has not changed and there is no talk of additional financial supports – you do not receive any Federal (Government of Canada) funding. Your funding from United Way will be cut this year, which accounts for 10% of your annual budget, as their fundraising efforts have been severely impacted. Your total budget for the coming fiscal year has been impacted and reduced from $1,915,000 to $1,723,500 (because of the reduction in funding from the United Way Other details: Your organization owns a building where the majority of your staff were based for their workday. The organization has equity on this building totaling $350,000, but still has a small mortgage. Your bld is due for substantial repairs to roof, heating system and new windows. Other satellite blds are rented, and used only occasionally at the moment. A bequest (donation from an estate) of $100,000 is invested with typical 4% annual returns that get used annually to support families in need. Pre-Budget Submission Organization Title: Good for Good Fiscal Year: 2020/21 and 2021/22 Prepared for (committee name): Executive Director and Budget Planning Committee Date: October 8, 2020 Executive Summary: /5 Provide an overview of the situation – not repeating what has been written above, rather providing your analysis about the challenges facing the organization, the strengths of the organization and the opportunities that need to be explored revising the budget for this fiscal year, and in planning for next fiscal year. Asks/Recommendations: /10 Provide 10 well thought out recommendations based on your financial and managerial analysis of the budget provided and the details listed above.