Assessment 2 – Task 1
Instructions:
Read through the information to assist you in creating your 2022 budget.
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The venue can only held a maximum of 150 people.
2019 was our first year of holding the charity event.
The economy in 2020 was depressed due to Covid-19 Global Pandemic.
2021 people were keen to engage and get out and about.
2019 our charity of choice was Wirrpanda Foundation.
2020 we supported the Mates Program.
2021 we supported the Carad- compassion in action program.
For 2022, you are to make a recommendation as to the registered charity we should use.
You will need to be able to explain why this particular charity has been chosen and provide your
answer when prompted.
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In 2020, we increased the sales price of admission by $5, this was bold but it did not hurt
attendance.
 In 2021, we again increased the price by $5 and due to the communities release from lock down
and choice of charity, we increased attendance to 142.
For 2022, you need to decide what to do.
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Raffle sales - we have held the price of raffle tickets at $10, this seemed to be a popular
affordable price and it also meant we did not have to have much change on hand. You however
can do what you think best. You will need to explain your reasoning why when prompted.
 Given the previous ratio of raffle ticket sales to admission, you can estimate how many tickets
each person will buy. Once you have determined the number of people attending, you can work
out a new budget.
 Bar sales like raffle tickets is a function of the number of people in attendance. Calculate the past
three year’s usage and see if there is a trend. Based on the trend continuing, calculate the new
revenue for bar sales.
Costs:
 Food costs have been consistent with revenue for all three years. Calculate the budget at the
same percentage cost.
 Beverage costs have been consistent with bar revenue for all three years. Calculate the budget at
the same percentage cost.
 For the remaining costs- review history and determine trends and from that you can make
assumptions accordingly for the budget.
Remember to save your work at regular intervals. It is a good idea to keep a back-up – just incase.