1. (10 points) You are the executive director of a community service agency in the south Bronx. Your operation is funded through a combination of cash contributions, federal government grants and city contracts. Your revenue budget for fiscal year 2019 is as shown below.

You know from past experience that not all of your revenue and support is collected when you earn it. Cash contributions are collected in the quarter they are pledged. Federal government grants are collected one quarter after you send the granting agency a bill. The city pays 25% of what it owes you one quarter after you send in the bill. An additional 25% is collected from the city in two quarters and the remaining fifty-percent takes three quarters to collect.

Starting with the revenue budget above, calculate the amount you can expect to collect in the fourth quarter of fiscal year 2019. Your answer should clearly show the portion of revenue from each quarter (above) that will be actually collected in the fourth quarter. You may use the following template as a guide for your answer on Excel.