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INFO 6800 (Winter 2013) Week Thirteen Budget Exercise


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Handout for budgeting exercise in Week Thirteen of INFO 6800 (Winter 2013).

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INFO 6800 (Winter 2013) Week Thirteen Budget Exercise

  1. 1. INFO 6800 Archives – April 1, 2013 Week Thirteen Budget ExerciseIntroductionThe purpose of this exercise is to provide an opportunity to examine some of thefinancial aspects of running an archives. Students will list various types of revenuesand expenses and then form groups to develop a mock budget for an archives.Instructions 1) Think about the various forms of revenue and expenses that might be associated with running an archives. Consider the broad categories of revenues and expenses (e.g., salary, utilities, etc.) and the sub-categories 2) Create a list of revenues and expenses 3) Form groups of 5-6 4) Choose a hypothetical archives setting (e.g., government, academic, corporate, thematic, etc.) and determine any basic parameters to allow you to create a mock budget (e.g., mandate, scope and organizational structure, number and type of staff, facilities, etc.) 5) Discuss the revenue and expenses listed by the class and create a mock budget for one fiscal year of operations (e.g., April 1, 2013 to March 31, 2013) 6) The budget does not have to be balanced (i.e., it can contain more expenses than revenue) unless your hypothetical setting is an independent institution whose sole mission is to be an archives (e.g., a non-profit community archives) 7) You may wish to approach the task by asking a series of questions: a) What is the nature of the organizational structure of the archives? Is it part of a larger corporate body or is it an independent organization? INFO 6800 Archives (Winter 2013) – Budget Exercise | 1
  2. 2. b) How many staff does the archives setting have? Are they full-time or part- time? What is the expected qualifications of the staff and corresponding salary requirements? Does the archives employ contractors for any of its administrative or operational requirements? c) What kinds of expenses are associated with the facilities? Is the archives responsible for these expenses? d) What kind of supplies does the archives need for routine operations? What about for processing projects? e) How does the archives generate revenue? Are there any costs associated with these activities? 8) Jot down your group’s findings and create a list of estimated total revenue and expenses for your chosen archives setting 9) Discuss with class BudgetRevenue Amount ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ Total __________Expenses ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ Total __________ Balance __________ INFO 6800 Archives (Winter 2013) – Budget Exercise | 2