1. The Albany Youth Center (AYC) has an after-school contract with the city. Under the contract, MYC earns $3 per day for each child who uses the program. AYC served the number of children shown below. The city pays one-third of the amount AYC earns one quarter after the services are delivered, one-third two quarters after and one- third three quarters after.

How much can MYC expect to earn from the city during the fourth quarter?

How much can MYC expect to collect from the city during the fourth quarter?

	Q1	Q2	Q3	Q4
Average # of Children Days Per Quarter	2000	2500	3000	4000

2. Mead Meals on Wheels (MMW) has a contract with the city to feed homebound elderly people. Under the contract, MMW earns $140 per month for each person enrolled in the program. MMW expects to deliver meals to the number of seniors shown below. The city pays one-half of the amount MMW bills one month after the services are delivered, and one-half two months after billing. It costs MMW $125 for food and fuel for each person it feeds. Suppliers demand payment one month after food and fuel is used. This is MMWs first year of operation. It started the year with $17,000 in cash.

What is MMWs expected surplus or deficit for the first quarter based solely on contract revenue, food and fuel expenses?

What does MMWs expect its cash balance to be at the end of the first quarter based solely on contract revenue, food and fuel expenses?

3. The State University Research Foundation (SURF) expects to have the revenue and expenses shown in the operating budget below. The state research contract pays SURF two quarters after it is billed and the Foundation pays SURF one quarter after it is billed. Salaries are paid in the quarter the expense is incurred and supplies are paid for one quarter after they are used. Assuming SURF starts the 3^rd quarter with $500, prepare a properly-formatted cash budget for the 3^rd Quarter of the year.

4. The Teaching & Learning Research Center at UAlbany needs to prepare a budget for a research proposal to do an in-depth study of Rensselaer Countys after-school programs. The County is willing to pay $17,500 for each site studied, up to 15 sites. A report must be submitted within a year of the start of the project.

Regardless of the number of sites, the Center will need a primary researcher at $60,000 per year and 2 associate researchers at $35,000 each per year to do the study. Supervising the site studies is the responsibility of the associate researchers. Each associate researcher will be able to supervise up to eight sites. Research assistants are needed to transcribe field notes and provide support for the associate researchers. These part-time research assistants are each paid $6,000 and are only able to support 3 site studies each. The center must budget 30% of the salary of the primary and associate researchers for fringe benefits.

Based on past experience, the Center estimates that it will need $2,500 for supplies. Researchers will have to travel to each research site. Each trip will cost $20 and the center expects that 40 trips will be made to each site during the study.

Prepare a budget of revenues and expenses for a study that includes 9 sites, 12 sites, and 15 sites.