Week 8.3 Paper

Annual Financial Plan

Pauline Gordon

Bellevue University

ANNUAL FINANCIAL PLAN

Line item budget	For this request
Direct costs
Direct labor	3,000
Supplies	7,000
Fringe (20%)	600
Travel	2,000
Contractual	400
Materials	4,000
Indirect costs
Accounting	2,000
Human resource	4,000
Professional Remuneration	2,200
Administrative costs (10% of total)	2,800
Total	28,000

Budget Justification

1. Direct labor. Direct labor, will take up to $3000 for project completion to be realized. This is part of the total budget allocated for the Charlotte bridge home project (CBH, 2017).

2. Supplies. Supplies involve availing all required materials for the project to commence, and the installation of each material to realize project completion, which will take $7000.

3. Fringe (20%). Includes all benefits employees are entitled to and has been allocated $600, which is 20% of the labor costs paid to workers.

4. Travel. Travel costs are bound to be present during the project, which involves transportation costs for both employees, trainers, and workers. These amount to $2000.

5. Contractual. Contractual costs include all legal processes which will be associated with legalizing the startup and completion of the project. These will amount to $400, paid to authorities.

6. Materials. Materials necessary for the reject at Charlotte Bridge home have been estimated to cost $4000.

7. Accounting. Accounting procedures cannot be ignored mainly for documenting all information and expenses undertaken. This takes up to $2000.

8. Human resource. Human resource is a critical component of business success. The human resource department maintenance, training procedures, and related functions need to be financed, up to $4000 for successful project implementation.

9. Professional Remuneration. The information system and technology experts who will be involved in the installation of the systems at Charlotte Bridge home are to be compensated a total of $2200 (Baskerville, 2016).

10. Administrative costs (10% of total). Administrative costs amount to $2800, which is 10% of the total project costs. These are costs involved in ensuring that programs are smoothly running and more so, that the operations are underway as planned.

References

Charlotte Bridge Home. (2017). Making Veterans and Communities Stronger. Together. Retrieved from: https://www.charlottebridgehome.org/

Baskerville, R. L. (2016). Investigating information systems with action research. Communications of the AIS, 2(3es), 4.

Instructor’s Feedback to Learner

You are on the right track.  For a proposal, you can have an indirect cost rate.  We are using 10%  That covers those items you have included, the Accounting and HR.  You can't include those twice.  The Professional Renumeration is actually contract labor, and should be a separate line item.  After you make those changes, do a subtotal, and then add in the 10$.