Question
I am trying to make a two-column budget for Admin Overhead for 2019-2020 and 2020-2021. I am having trouble understanding which column year to put
I am trying to make a two-column budget for Admin Overhead for 2019-2020 and 2020-2021. I am having trouble understanding which column year to put according to the case study below.
To facilitate this, Lucy Mark applies for an operating grant from the Canada Council to help fund these expanded operations. The National Ballet had received several project grants from various arts councils in the past to help with specific programs, but never an operating grant. National Ballet was awarded a $30,000, three-year operating grant, starting at the beginning of their next fiscal year, September 1, 2019. National Ballet has hired you to help advise on a two-year (2019-20 and 2020-21) budget for this new, expanded model. It already has board-approved project budgets that it can provide, it is looking for the overall picture of what this will do to the organization.
My question is, according to this line "National Ballet was awarded a $30,000, three-year operating grant, starting at the beginning of their next fiscal year, September 1, 2019". Do I put this a $30,000 grant in 2019-2020 or 2020-2021 year? I am confused about what "next fiscal year" means.
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