As a group, we were given a budget of $120,000, with an additional
$20,000 given to us from an alumnus. We then calculated the total costs
for all the mandatory funding. This total ended up being $151,350. With
that calculation, we subtracted our total budget to give us a remainder
of $11,350. After getting this balance, we used our four fundraisers for
the 4 largest teams to cover the remaining mandatory costs. Once the
mandatory funds were accounted for, we decided to add up all the extra
expenses, and figure out an efficient, yet fair way to distribute how
these items would be paid for. Our plan consisted of adding up all the
athletes to find out what our base number was. This number ended up
being 459 athletes. Now knowing this, we decided it would be best to
enact a pay to participate fee. This made sense, but we also figured it
would be unfair to make everyone pay the same fee. Teams with fewer
athletes would end up paying more than larger teams and they wouldn’t
reap the benefits for it. Therefore, we decided to take what percentage
each team consisted of towards the total of extra expenses. The total
ended up being $86,400. For example men’s soccer had 20 athletes. We
took 20 divided by 459 to give us 4% of the athletes. We then took that
4% times our total of $86,400 and got $3,456. From that, we took the
total number of members from that team (20) and divided it evenly to get
a value of $173. Men’s soccer would pay $173 a person to participate
compared to football who would pay $188 because they make up a larger
percentage of the athletes. After repeating this for every team and
rounding the numbers, we ended with a positive balance of $167. Of that
$167 dollars, we decided it would be best to divide it up and give a
bonus to the maintenance department for all of the upcoming projects
they would be starting.
Devin Daugherty
Gehrig Dieter
Clay Rolf
Devin, Gehrig, and Clay,
ReplyDeleteYour group was really creative in how you allocated resources that you had. Your budgeting skills might be very useful in a job in government down the road. I wonder if having different costs for teams that 'pay-to-play' would discourage athletes from playing on smaller teams since they would have to pay more. Still, I like your creativity, and I especially like the bonus that you gave to the maintenance department. It's nice that your recognized the contributions that support staff have!
Excellent job on this assignment!
Dr. Spencer