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20 Cards in this Set
- Front
- Back
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What kind of costs are there?
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1. Fixed costs
2. Variable costs 3. Direct costs 4. Indirect costs |
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Give examples of each type of cost
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Fixed: Rent, Personnel
Variable: Advertising, handouts Direct: Waves, materials Indirect: utilities, office equipment |
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What are in-kind contributions?
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Non-monetary costs (contributions from others)
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What are the 3 main resource categories?
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Technical assets, Fiscal assets, Human Assets.
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What is soft money? what is hard money?
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soft money is gifts, which are things given for a short period of time, then cut off.
hard money are on-going sources of funds. |
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What are 5 ways programs can be financed?
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1. Categorical funding
2. Participant fees 3. Third Party Support 4. Community fund raising 5. Grants |
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What are 4 different sources of grants?
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1. Foundations
2. Corporations 3. Voluntary health agencies 4. Government |
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What are 10 components of a grant proposal?
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-Title
-Abstract -Table of Contents -Introduction -Background -Description of proposed program -List of references -Personnel Section -Budget |
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What is the purpose of a budget?
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-Means of measuring resources
-Tool to monitor programs -means of control |
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Definition of a budget
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A projection of the expected income and expenses over a specific time frame
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What should be the goal of a budget?
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-Accomplish as much as possible with resources given
-Keep budget simple -Keep cost down -Includes: Needs, equipment, personnel, material and supplies, travel, etc. |
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How much % of the total budget can be devoted to personnel?
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up to 85%
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Sample Line Items
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Personnel, Travel, Supplies, Training, marketing, Consultants, Evaluation, Capital (equipment/maintenance/depreciation/building)
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How should non-monetary costs be determined?
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-Put their actual market value into the cost of the program
-Try to make budget break even |
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What to consider when hiring personnel
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-How many people do you need to get the job done?
-Qualifications -The job description of position you are hiring -Rate of pay |
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How should volunteers be budgeted?
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-They are never free
-No salary -Need motivation (banquets, etc) -Unstable. High turn-over |
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How should a budget justification be done?
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-Justify each line item
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What is a financial control system?
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-A system to ensure the project funds are used according to the budget
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How should a financial control system be designed?
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-Keep separate accounts for separate projects
-keep separate multiple donor accounts for the same project -Person authorizing expenditures is different from person handing the funds -Good paper records |
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What are the ethics of finance?
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-Honesty
-Consult with donors before altering line items -Funds benefit target group, not organization/personnel. |
