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Utilizing the budget template provided (which also serves as your chart of accounts), submit a budget for the program you first proposed. Although your budget may not require entries for all of the items listed in the template, the expenditures should include all administrative, human resources, and facilities costs, as well as your designated revenue source(s). Be certain to allow for the cost of evaluating performance. The budget must be balanced, meaning it should have a net zero cost.
In addition to the initial budget, the template provides columns to forecast future year budget requirements. Some issues to consider when forecasting for future budget requirements are whether the program will begin to generate revenue (thereby reducing the financing needs), whether the costs of the program will escalate or decrease, and whether the program evaluation will indicate a continued need for the program.
Prepare a budget narrative for the budget you prepared that explains and justifies the items of the budget. Be certain to include human resource costs, administrative costs, and the revenue sources. The narrative concerning the revenue sources should include an explanation of the sustainability of the source in future budget years. You also want to explain the milestones for evaluating the program’s success and include any type of contingency plans.
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