I have death in my family I need your help in the assignment below. I am responsible for year 1 of the assignment. Tomorrow I need to be able to address what actions I would take to fix the budget. I have attached pictures of the budget for your review. The italicized information is a scenario for the assignment. The scenario below has to be reviewed and actions to address the budget deficit and correct the financial situation has to be discussed with my 2 partners who each have year 2 and 3 respectively.

The President, CFO, and Board are in agreement projecting a significant budget deficit. Unexpected revenue shortfalls have thrown the budget ($3,320,000) "in the red." Worse, hopes of more income anytime soon are slim. At the Board's recent meeting, the Board was disappointed by the President not advancing any remedy to cope with the new circumstances promptly. The President, CFO, and Board are further disturbed by a targeted 3 percent deficit for next year. We are appreciative your team has agreed to assist us in acting immediately to rectify this unacceptable financial situation. Although some actions may require more than one year to phase in, we need your recommendations to balance the budget within three years. More so, the above must be accomplished without diminishing the average "Performance Indicators" and "Attitudes toward the College"

scores.