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Managing Your Budget

What is a Budget?A budget is a financial document used to project future income and expenses.The benefits of good BudgetingEncourages forward thinking

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Managing Your Budget

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    1. Managing Your Budget Sharon McDaid Aisling Lyttle

    2. What is a Budget? A budget is a financial document used to project future income and expenses. The benefits of good Budgeting Encourages forward thinking & planning Provides a basis for evaluation of controls of expenditure Managing Your Budget A Budget can be prepared simply using pen & paper or systematically using spreadsheets or financial packages dependant on the needs of the indivdual or the organisation.A Budget can be prepared simply using pen & paper or systematically using spreadsheets or financial packages dependant on the needs of the indivdual or the organisation.

    3. Budgeting in the VEC DES Allocation VEC Notification Monthly Expenditure Reporting Quarterly Summary Online Budgetary Monitoring through P2P Managing Your Budget Overview of the Control & Monitoring process that happens in the VEC upon receipt of the DES Allocation Letter.Overview of the Control & Monitoring process that happens in the VEC upon receipt of the DES Allocation Letter.

    4. Allocations Non-Pay Budget Special Educational Needs (SEN) Budget Guidance Counselling Budget Managing Your Budget

    5. Non-Pay Budget Budget Allocation Basis for Allocation Rent Allowance Supplementary Grant Learner Allowances 2011 Implications – 5% Reduction Managing Your Budget In 2010 Non Pay Budget Allocation was 54,080 In 2010 Non Pay Budget Allocation was 54,080

    6. Pay Instruction Pay Monitoring of Hours Administrative Pay 15% Non Pay Maintenance Pay Funded from Non Pay Managing Your Budget

    7. Managing your Non-Pay Budget in the current climate? Fixed Costs Variable Costs Assess needs of individual centre Test the Market - Obtain 3 Quotations Purchases from outside the state Tax Compliance Issues – PSWT & RCT Ancillary Staff Pay Costs Learner meals & travel recoupment Managing Your Budget

    8. Internal Supports & Assistance Monthly Reports Examine and Challenge any Discrepancies Quarterly Review Meetings with Co-Ordinators Reporting Requirements to the Department of Education & Skills Managing Your Budget

    9. Managing Your Budget Sharon McDaid Aisling Lyttle

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