Question $1$

Partner's Accountant prepared a financial report as of Dec $2021$ with balance budget for the next three months $($January $-$ March $2022)$ as below:

A$.$ Annual budget for the year $2021-22($April $-$ March$).$

Staff Cost: Project Manager $48,000,$ Project Officer $36,000,$ Programme Assistant $15,700,$ Administrator $20,000.$

Programme cost: Irrigation canal $65,000,$ Income generation $50,000,$ Workshop and Seminar $7,500,$ Duty travel $4,500,$ Stationery and consumables $2,000.$

Agreed overhead budget is $11\%$ of total cost on the above headings.

B$.$ Expenditure incurred up to $31$ December $2021.$

Staff cost: Full team of project staff worked and incurred salary expenditure as budgeted during the reporting period.

Programme cost: $50\%$ of Irrigation canal, $25\%$ of Income generation, $10\%$ of workshop seminar, $125\%$ of Duty travel, and $100\%$ of Stationery and consumables were spent. Overhead booked as per the budgeted percentage of $11\%.$

$\backslash$table$[[$S$.$No$.,$Budget headings,$\backslash$table$[[$Annual$],[$budget$]],$Expenditure for up to Dec $2021,\backslash$table$[[$Budget balance for$],[$January $-$ March $\text{'}22]]],[,$Staff cost:,,,$],[1,$Project Coordinator,$48,000,36,000,12,000],[2,$Project Officer,$36,000,27,000,9,000],[3,$Prog. Assistant,$15,700,11,775,3,925],[4,$Administrator,$20,000,15,000,3,000],[,$Programme Cost:,$65,000,,26,000],[5,$Irrigation canal,$50,000,39,000,20,000],[6,$Income generation activities,$4,500,10,000,500],[7,$Duty Travel,$7,500,5,625,6,750],[8,$Workshop and Seminar,$2,000,750,500],[9,$Stationery and consumables,$27,357,1,500,6,365],[10,$Overhead,$276,057,16,152,113,275],[,$Total,$162,782,]]$

You are asked to;

check accuracy of the report and correct if required,

provide feedbacks to Project Manager regarding the financial performance in relation with the period where necessary.