Posted: August 9th, 2016

How does it affect your results?

The Director of the DOT is hoping the DOT’s financial situation will allow for expanded subsidies of public transportation. As such, she is hoping that each division of the DOT will at least break even, if not show a profit. Although you realize that the DMV will receive a State subsidy to operate if needed, you know that your boss would be unhappy if such a subsidy is needed for your division.

Using a computer spreadsheet, prepare a budget for the DMV for the coming year, based on the information you currently have. If the budget shows a deficit, you may need to make some adjustments, so use formulas for your calculations. That way you will be able to make changes in your worksheet and easily calculate updated results.

Specifically,
1. Prepare a monthly operating budget for the DMV for the fiscal year ending August 31,
2014.