You are the CFO of University of Neverland
Last Year 2021, the athletic department ended with a deficit of $2,7M
Your goal is to end 2025 with a surplus
Use the current Income Statement to balance the budget and work your way to increasing revenue and controlling expenses
Describe your budget approach and how you hope to accomplish the goal When you increase or decrease a expenditure make sure to list your though process and reasoning behind it
Suggestion would be to complete the budget in excel and the action plan in word
Income Statement
Pro Forma Business Plan University of Neverland 2021 2022 2023 2024 2025 Sponorship REVENUE Ticket Sales NCAA and Conference distributions Guarantees and opitons Cash contributions from alumni Concession, programs, novelties and advertising Sports camps Golf tournament Field and gym rental Miscellaneous (endowment, investment) Total generated revenue Direct institutional suppourt Indirect institutional suppourt Total allocated revenue Total All Revenues $1,227,750.00 $252,500.00 $42,000.00 $500,000.00 $588,300.00 $122,500.00 $18,000.00 $60,000.00 $15,300.00 $105,100.00 $2,931,450.00 $4,182,000.00 $250,800.00 $4,432,800.00 $7,364,250.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 EXPENSE Grants-in-aid Salaries and benefits Facilities and utilities Team travel Recuriting Equipment, uniforms Marketing Fund-raising Game expense Medical Membership dues Spirit camp Sports camp Golf tournament Other $4,860,000.00 $1,463,000.00 $2,550,000.00 $281,000.00 $48,500.00 $ 148,300.00 $45,000.00 $14,500.00 $95,000.00 $115,000.00 $21,900.00 $7,200.00 $7,500.00 $20,000.00 $390,900.00 $10,067,800.00 Total Expense $0.00 $0.00 $0.00 $0.00 GRAND TOTAL: REVENUE ($2,703,550.00) $0.00 $0.00 $0.00 $0.00 Pro Forma Business Plan University of Neverland 2021 2022 2023 2024 2025 Sponorship REVENUE Ticket Sales NCAA and Conference distributions Guarantees and opitons Cash contributions from alumni Concession, programs, novelties and advertising Sports camps Golf tournament Field and gym rental Miscellaneous (endowment, investment) Total generated revenue Direct institutional suppourt Indirect institutional suppourt Total allocated revenue Total All Revenues $1,227,750.00 $252,500.00 $42,000.00 $500,000.00 $588,300.00 $122,500.00 $18,000.00 $60,000.00 $15,300.00 $105,100.00 $2,931,450.00 $4,182,000.00 $250,800.00 $4,432,800.00 $7,364,250.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 EXPENSE Grants-in-aid Salaries and benefits Facilities and utilities Team travel Recuriting Equipment, uniforms Marketing Fund-raising Game expense Medical Membership dues Spirit camp Sports camp Golf tournament Other $4,860,000.00 $1,463,000.00 $2,550,000.00 $281,000.00 $48,500.00 $ 148,300.00 $45,000.00 $14,500.00 $95,000.00 $115,000.00 $21,900.00 $7,200.00 $7,500.00 $20,000.00 $390,900.00 $10,067,800.00 Total Expense $0.00 $0.00 $0.00 $0.00 GRAND TOTAL: REVENUE ($2,703,550.00) $0.00 $0.00 $0.00 $0.00
