Developing An Operating Budget

Full Answer Section

• Reduce marketing and advertising expenses by 15%. This will save the department $3,000 per year. We can still reach our target audience through more cost-effective means, such as social media and word-of-mouth.
• Reduce travel expenses by 20%. This will save the department $2,000 per year. We can still attend conferences and other events by using video conferencing and other technologies.
• Reduce office supplies expenses by 5%. This will save the department $500 per year. We can be more mindful of our use of office supplies and find ways to reuse and recycle materials.
• Increase tuition by 2%. This will generate an additional $10,000 per year. We have not raised tuition in the past three years, and this modest increase will help to offset the cost of providing high-quality adult education programs.

The total savings from these adjustments is $10,500 per year. This will allow us to meet our budget goals without impacting the quality of our programs.

I believe that these changes are necessary to ensure the financial stability of the Adult Education Department. I have carefully considered the impact of these changes on operations and other fields, and I believe that they will not have a negative impact on our ability to serve our students.

Thank you for your consideration.

Sincerely, [Your Name] Administrator, Adult Education Department

Sample Solution

To: President of Blooming Park University From: Administrator, Adult Education Department Date: 2023-10-23 Subject: Budget Adjustments for Adult Education Department

In light of the current financial position facing the university, I have made the following budget adjustments for the Adult Education Department:

• Reduce professional development expenses by 10%. This will save the department $5,000 per year. Professional development is important for our staff, but we can make do with slightly less funding in this area.