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| is the act of receiving pro%erty by will. |
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| tips for successful grant writing |
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Think big, think small, think different
Network, network, network
Treat it like a game (which it is) |
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| Major expenditures for equipment, buildings, and land fall into this type of budget category. |
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| anyone or any entity that has an interest in the economic performance and well-being of a business |
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| An information system that provides reports to stakeholders about the economic activities and condition of a business. |
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| An amusement park is opened in a local community. There is a fee to get in. Once the fee is paid all rides are free. |
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| While there the individual purchases souvenirs from the gift shop. What type of earned income is this called? |
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| Your 3 year old daughter becomes tired so you pay to use a stroller. What type of earned income is this called? |
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| user/program fees, sales revenue, and rental fees |
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| Profits from one program used to pay for another program |
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| The process of substituting one activity for another |
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| Costs incurred regardless of the status of the program |
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| Payment in effect for psychological participation (outcome) in an activity or recreation experience |
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| Expenditure of physical or mental exercise —personal energy |
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| Direct and indirect expenditures attributed to participation |
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| fees are set to match the fees of similar agencies |
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| price is established based on the capability of the customer to pay and may be on a sliding scale |
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| fee is set at a level fair and reasonable to all |
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| fee based on historical precedent |
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Which pricing category would the activity describe in the next sentence be classified: public, private, or merit?
An activity which is subsidized in part by the local government, but also charges a user fee to participate. |
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| What is the formula for competitive pricing? |
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Definition
| There is no formula. You compare your service to other service providers and price accordingly. To be comparable an agency must have similar goals, costs, and market conditions. |
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| pricing to establish value |
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| You usually get what you pay for |
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| pricing to promote effiency |
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| Pricing used typically in seasonal or other fluctuations in demand in an effort to increase demand in off-seasons |
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| This is also known as cost-recovery pricing |
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| pricing to promote equity |
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Definition
| Relates to fairness in the allocation of resources |
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| pricing to crate new resources |
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Definition
| This is used to recover more than just the cost of production, to create value added to the service and new resources for the organization |
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| pricing to influence behavior |
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| Pricing used to promote desired behaviors |
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| Which type of budgeting essentially starts from scratch each year? |
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| What is the most common of all budget formats adhered to by sports and leisure service organizations? |
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| provide budget managers with the opportunity to understand where funds are being expended by classifying expenditures into categories. |
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Definition
| Object codes, as used in line-item and object classification budgets |
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| It provides a general assessment of what expenditures will be made |
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Definition
| A program budget is characterized by all of the following except for |
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Term
| Requires that public agencies have all the money for a project available before the project begins |
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Definition
| A Capital Improvement Program is designed to do all but which one of the following? |
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Term
| a. purchase of 10 reams of paper to be used in a recreation program |
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Definition
| Which of the following would not likely be considered an capital expenditure: |
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| What makes income “gratuitous”? |
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Definition
Income received without expectation of a return
Philanthropy |
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Definition
| How are tax rates determined? |
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Term
| a process recognizing that funding will be split into three groups with differing sizes of groups and expectations for levels of giving. |
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Definition
| The rule of thirds is. . . |
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| Funds secured by government organizations through taxes, licensing or some other similar government source. |
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| Real property taxes, personal property taxes, sales tax, excise tax, income tax, and local option tax. |
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| Income received without expectation of a return |
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Term
| capitol investment income |
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Definition
| Money generated from interest from investments, dividends, and money appreciation. |
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| Revenue generated from legal agreements with private and non-profit organizations. |
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| Costs incurred regardless of the status of the program |
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| Costs resulting from actual operation of the program |
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| Being prepared for the unexpected |
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Direct & indirect expenditures attributed to participation
Ex. Registration Fee |
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| Psychological Payment in effect for the psychological participation in an activity or recreation experience! |
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Definition
| The top source of fundraising dollars (about 75%)[Giving USA, 2005]) |
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Definition
| Related to the asset test, this plan makes sure that when the agency ends the assets of a public welfare org. will not be distributed for the personal benefit of individuals. |
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Term
| asset test, political test, and disoulution plan |
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Definition
| non profits go through 3 test |
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Term
| revocable charitable trust |
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Definition
| Any portion of the real estate, cash, or other property may be returned to the donor whenever needed |
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| giving money to help support an organization |
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| raising money to help your organization run on a day to day basis |
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Common in commercial organ. and local gov’t
Promotes justifying everything and is designed to reallocate funds from lower to higher priorities each year |
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Term
| didn't match program, did not follow directions |
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Definition
| More than half are rejected on first reading because name two things! |
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| Grant proposal success rates average |
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| Used to finance a money producing facility with the anticipation that revenues from the facility will wholly retire the bond |
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Definition
| ID appropriate classification codes for each item in this type of budget |
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Term
| GOB general obligation bond |
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Definition
| This is issued by a public agency with the expectation of providing benefits to the entire community |
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Term
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Definition
Frequently used with recurring tasks (e.g., maintenance tasks)
Requires assessment of:
What tasks need to be done (e.g., mowing)
What equipment is available to do it
Capabilities of staff to accomplish the tasks ect.. |
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| This business is extremely easy to get started and provides the greatest freedom and maximum authority, but there is no separation between business and personal assets so the owner is held personally liable for debts. |
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Definition
| If you want your stock to go public and are willing to pay capitol gains taxes to take out dividends, open this type of business. |
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| LLC Limited Liablility Company |
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Definition
| Great for entrepreneurs and recreation professionals, this type of business provides protection from personal liabilities like a corporation AND the tax advantages of a partnership |
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