Janet Dobbs, Vice President of the Greater Euclid Little Theatre (GELT), proposed a budget to the GELT board members, within the proposed budget, Janet Dobbs addressed four points, the first issue was regarding the unrealistic estimates for revenue and expenditures, in the second point, Dobbs should the contrasts of the expenditures and revenues over the past six years. Third, the debt crisis was addressed, and how just balancing the 2002 budget would not eliminate the crisis. Lastly, the budget touched upon the expenditure to reduce debt and increase profit. The board rejected the budget for many reasons. The budget reduced expenditures, most of the board members wanted to increase Spaulding’s salary, which was not included in the budget, and some believe that revenue for GELT would increase if the theatre sold every ticket for performances. Board members like Roberta Mackie, said “by limiting revenue projections, the budget committee was “constraining our ability to dream” and that “high revenue estimates would give the organization incentive to work to make them come true”.
Jacob Grimm, a board member argued that GELT is not in it to “count beans” but to enrich the lives of others throughout”. In my opinion, I believe that Janet Dobbs proposed budget was shut down because she lost sight of GELT’s mission, and it is to “provide professional quality theater at an affordable price for the families of the greater Euclid area”. Even though the budget did well to address the debt that GELT had inherited, it left out the steps that should be taken to rid the debt, increase revenues while keeping the mission of GELT in mind.
I do believe that Ms. Dobbs financial plan was a realistic one but it lacked information, it lacked plan...
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...hould be clearly outlined. Goals and Objective must be discussed, and the implementation process. If I were to side on this budget, it would be Janet Dobbs’s. I believe she had clear financial plans as to how much money should be allocated and where on behalf of the organization. Her only downfall, I would say is not keeping the mission in mind. She only had one goal in mind and that was to eliminate the debt, once the debt was eliminated, what other goals would the company strive to obtain. I understand the board members are not worried about the debt at the moment, but to only focus on touching the public through art, and not the finance of the organization as well, will result in the company eventually closing.
Work Cited
Budget. (2015, June 11). Retrieved September 24, 2015, from http://www.investopedia.com/articles/07/budgetingforcompanies.asp
not believe she achieves her goal effectively because although she did suggest different way the company
What happens when a ballet company’s classic Christmas tradition is unwrapped, discarded, and replaced with a glitzy and glamorous moneymaking expenditure? Many dance enthusiasts are left with this lingering question as The Boston Ballet struggles with a recent announcement from the Wang Theatre, its lifelong performance home, that next year’s production of the Nutcracker is being replaced by a touring show of the infamous Radio City Rockettes.
It is vital that the operating budget ties in with long-term strategies by planning, setting objects with goals, and forecasting the future. According to Mr. Wright, Robertwood Johnson University Hospital adopted the GE Model of “operation excellence” with long-term strategies with their operating budget. With the ” operations excellence” strategy, the organization has over the years transformed the operating budget by accurately tracking and constantly improving their revenue cycle yearly by setting payment practices to generate revenue to achieve specific financial objectives of greater demand with the maximum revenue margins along with eliminating waste and streamlining the budget by cutting expenses and prioritizing programs
McManus, Doyle. “Drawing Budget Battle Lines.” Editorial. Los Angeles Times. Los Angeles Times, 14 Apr. 2011. Web. 5 June 2011. .
This memo is in response to the views of the Inglis University Library donations department. The idea of the this case is to help readers develop a better understanding of what the donations department of the library are being used for and what the effects are of those decisions. For example, the donations can be used to hire part-time employees to help keep up with the growing number of books. However, the increase in books and profit has increased unit cost that was claimed to be already too high. The case helps to comprehend cost concepts and how to organize it into data for proper analysis. This memo will explain how to analyze and evaluate the costs and then explain the results in a managerial way whether or not the additional funds should be rejected.
High Costs – In this particular it was noted that there was no policy or controls in place to control the excessive budgets of each department. With the decision by the Chairman of the National Banking Group to switch NCO to a profit center (Spector, 2013). Finvold, determined that cost-cutting measures were needed to control the center’s budgets and implementing procedures that all are to be approved by the CFO of NCO. Also, all departments must adhere to their set individual budgets.
Lee, Frank C. “State Theater receives $500,000 gift.” Bay City Times 28 Feb. 2002: A1: Print.
Berlau, John. Spending Limits A Good Idea Whose Time May Not Come. Insight on the
On September #, 2001, the lush ruby-red curtain was drawn and music by (person) began to fill the theater. Each of the 2200 seats was filled as they listened in awe and gazed around the French Renaissance-styled room. The finale of the evening’s program featured a prideful rendition of America the Beautiful by the audience and led by Mayor (X). Just days before then, the infamous September 11th attacks had happened on the east coast. The shock was still fresh, but this night was not a night of mourning, but of celebration. After an estimated $12 million and a decade long renovation project, the Orpheum Theater of Sioux City, Iowa was back to its original 1920’s grandeur.
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After analyzing our most recent annual report from 2012. We noticed that our operational cost is approximately $20,000 over our revenue. Looking at our data from previous years, the $20,000 over-budget has occurred in the past. In 2010, Partners in Health had approximately $90,000 in unused funds which carry over at the end of ...
The budget communicates the objectives of the municipality to all of the stakeholders. Stakeholders in a municipality include the taxpayers that primarily fu...
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