Please use the Tennis Tournament Budget Excel file to plan ahead for the $2022$ and $2023$ university tennis tournaments, taking into account forecasted increases in expenses and revenue. With this $2021$ budget, students will plan ahead for the $2022$ and $2023$ university tennis tournaments. Complete the budgets assuming expenses will increase three percent and revenue can only be raised a reasonable percent based on increasing expenses associated with marketing.

Perform the following in completing the $2022$ and $2023$ budgets:

Make small changes to help calculate costs and make the income statement accurate based on forecasted increases in expenses and revenue.

Calculate these likely changes and see what the impact is across the university tennis tournament budget.

Use three to five references from sections of this text book to support reasons for your decisions.

Budgets must show transparency across all athletic programs to comply with Title IX as the United States utilizes Title IX for all schools receiving federal funds including almost every NCAA program. Title IX states that no person in the United States shall be excluded from participating, be denied benefits, or be discriminated against based on sex for any program or activity receiving federal financial assistance.

In addition, the NCAA requires a budget to include certain categories in order to be awarded the opportunity to host an NCAA event. Before you start on your calculations, find information about what the NCAA requires in a budget when hosting a tennis event. Is the budget missing any categories that should be included?$202120222023$

Revenues $ $\%$ $ $\%$ $ $\%$

Direct Cost $1,75828\mathrm{.}63\%$

Gross Profit $4,38271\mathrm{.}37\%$

Revenue $6,140100\mathrm{.}00\%$

Operating Expenses

Park and Game Expenses $99222\mathrm{.}29\%$

Team Expenses $1964\mathrm{.}40\%$

General & Administrative $2,42254\mathrm{.}43\%$

Debt Service $84018\mathrm{.}88\%$

Total Expenses $4,450100\mathrm{.}00\%$

Operating Income $-68$

$202120222023$

$ $\%$ $ $\%$ $ $\%$

Tennis Tournament Revenue $2,000$

Direct Costs

Facility Fee $20072\mathrm{.}99\%$

Payment to USTA $6021\mathrm{.}90\%$

Ticket Production $145\mathrm{.}11\%$

Total Costs $274100\mathrm{.}00\%$

Gross Profit $1,72639\mathrm{.}39\%$

Advertising Revenue $1,400$

Direct Costs

Radio $104\mathrm{.}76\%$

Promotional Spots $20095\mathrm{.}24\%$

Total Costs $210100\mathrm{.}00\%$

Gross Profit $1,19027\mathrm{.}16\%$

Tournament Concessions $1,40070\mathrm{.}00\%$

Group Concessions $60030\mathrm{.}00\%$

Total Concession Revenue $2,000100\mathrm{.}00\%$

Direct Costs

Food $38043\mathrm{.}78\%$

Soft Drinks $708\mathrm{.}06\%$

Tennis Balls $809\mathrm{.}22\%$

Supplies and Uniforms $606\mathrm{.}91\%$

Equipment Leasing $80\mathrm{.}92\%$

Payroll $24027\mathrm{.}65\%$

Payroll Taxes $303\mathrm{.}46\%$

Total Costs $868100\mathrm{.}00\%$

Gross Profit $1,13225\mathrm{.}83\%$

Merchandise Revenue $340$

Direct Costs

Beginning Inventory $7032\mathrm{.}71\%$

Purchases $13060\mathrm{.}75\%$

Payroll $146\mathrm{.}54\%$

Total Costs $214100\mathrm{.}00\%$

Ending Inventory $48$

Final Costs $166$

Gross Profit $1743\mathrm{.}97\%$

Other Revenue

Parking $4010\mathrm{.}00\%$

Programs $4010\mathrm{.}00\%$

Other $32080\mathrm{.}00\%$

Total Other Revenue $400100\mathrm{.}00\%$

Direct Costs

Program $8033\mathrm{.}33\%$

Other $16066\mathrm{.}67\%$

Total Costs $240100\mathrm{.}00\%$

Gross Profit $1603\mathrm{.}65\%$

Total Gross Profit $4,382100\mathrm{.}00\%$

$202120222023$

Departmental Gross Profit Margin

Ticket Department $1,726$

Advertising Department $1,190$

Concessions Department $1,132$

Merchandise Department $174$

Other Departments $160$

Total Gross Profit $4,382$

Gross Profit Margin $71\mathrm{.}37\%$

$202120222023$

$ $\%$ $ $\%$ $ $\%$

Tournament Expenses

Facility Rental $15015\mathrm{.}12\%$

Real Estate Taxes $00\mathrm{.}00\%$

Utilities $13013\mathrm{.}10\%$

Maintenance $28028\mathrm{.}23\%$

Security $11011\mathrm{.}09\%$

Tennis Umpires $707\mathrm{.}06\%$

Tournament Payroll $19019\mathrm{.}15\%$

Tournament Payroll Taxes $181\mathrm{.}81\%$

Equipment Rental $161\mathrm{.}61\%$

Miscellaneous $282\mathrm{.}82\%$

Total $992100\mathrm{.}00\%$

Team Expenses

Transportation $8040\mathrm{.}82\%$

Lodging $9648\mathrm{.}98\%$

Laundry and Locker rooms $105\mathrm{.}10\%$

Uniforms $105\mathrm{.}10\%$

Total $196100\mathrm{.}00\%$

General and Administrative Expenses

Salaries $80033\mathrm{.}03\%$

Payroll Taxes $743\mathrm{.}06\%$

Office Operations $40\mathrm{.}17\%$

Dues and Fees $602\mathrm{.}48\%$

Promotion and Advertising $55022\mathrm{.}71\%$

Other $93438\mathrm{.}56\%$

Total $2422100\mathrm{.}00\%$

Other Expenses

Amortization $37039\mathrm{.}61\%$

Auto Expenses $181\mathrm{.}93\%$

Bad Debt Expenses $101\mathrm{.}07\%$

Bank Service Charge $404\mathrm{.}28\%$

Contributions $20\mathrm{.}21\%$

Entertainment $101\mathrm{.}07\%$

Insurance $16017\mathrm{.}13\%$

Professional Fees $606\mathrm{.}42\%$

Miscellaneous $20\mathrm{.}21\%$

Outside Services $161\mathrm{.}71\%$

Postage $404\mathrm{.}28\%$

Rent $20\mathrm{.}21\%$

Reparis $161\mathrm{.}71\%$

Supplies $323\mathrm{.}43\%$

Taxes $-$ Others $606\mathrm{.}42\%$

Telephone $808\mathrm{.}57\%$

Travel $161\mathrm{.}71\%$

Total $934100\mathrm{.}00\%$

Debt Services Plus Other Expenses

Interest $18021\mathrm{.}43\%$

Depreciation $26030\mathrm{.}95\%$

Amortization of Contracts $40047\mathrm{.}62\%$

Total $840100\mathrm{.}00\%$

Total Expenses $4,450$