Budgeting FINA

James Williams (fictitious) was recently hired as the executive director for the Reach The World Mobile Telephone Company (RTWMTC). As part of his goal to manage and improve the company’s spending and income, he asks you to explain the importance of budgeting for the RTWMTC.

For this assignment, you must answer the following questions:

· Why is budgeting necessary for RTWMTC?

· Identify and explain at least three reasons.

· Who should be involved in the budgeting process and why? Explain in detail.

· What will happen if RTWMTC does not properly budget?

· Explain two specific possible outcomes in detail.

Unit 1 IP Deliverable Length:  2–page spreadsheet; 1–page Word document

You have been hired as an executive director of a small nonprofit organization. Among your many duties are to determine an annual budget and develop a fiscal plan for the organization.

For this assignment, you must develop a 2-page spreadsheet that you will deliver to the director and staff containing an annual generic annual budget for the RTWMTC.  Using an income of 800,000 per year, you must answer the following questions:

· How many employees does the RTWMTC company have and what is the break down of their salaries (you may choose)

· What additional costs does RTWMTC have (include utilities, lease/mortgage, phone, etc.)?

· What is the surplus or deficit of the RTWMTC?