HFA has recently received a contract from the state government to expand

ASSIGNMENT 4.1. APPLYING OPPORTUNITY COSTS TO A GRANT APPLICATION HFA is a nonprofit organization established to help ex-convicts during reentry into their communities. HFA is currently prepar- ing a grant application to a foundation to extend its services for former drug offenders by offering a program that will teach them basic skills for employment. The chief financial officer of HFA has collected accounting data and prepared a budget with relative ease, using the organization's well-designed and carefully maintained bookkeeping system. However, when the nonprofit asks for comments on its draft proposal from con- tacts at City University (with whom HFA has long-standing co- operative relationships), the contacts advise HFA to take into consideration the opportunity costs of the facility that it is going to use to house the new program. The nonprofit has owned the property for years and does not have to pay to use it, but a nearby after-school program has offered $5,000 a month to rent it. In what way can this advice be incorporated into the Leaming reading speed 27% BUDGETING AND FINANCIAL MANAGEMENT FOR NON.... grant application, given that the nonprofit has revised its finan- cial policy to disallow economically untenable programs since the 2008 recession