preparing a departmental budget
DESCRIPTION
Preparing a Departmental Budget. Why Do We Need to Prepare a Budget?. To determine and clearly list our objectives To provide us with a guide to achieving our objectives To serve as a basis for evaluating performance. House Keeping…. “…. Is The Backbone Of An Organization.”. - PowerPoint PPT PresentationTRANSCRIPT
Preparing a Departmental Budget
Why Do We Need to Prepare a Budget?
To determine and clearly list our objectives To provide us with a guide to achieving our
objectives To serve as a basis for evaluating
performance
House Keeping….
“…. Is The Backbone Of An Organization.”
Preparing a Budget for Housekeeping
10
Different Types of Budgets Zero-based budgeting Incremental budgeting
Preparing a Budget for Housekeeping
11
Capital Budget Operating Budget
Fixed Cost Variable Cost Operating Equipment
Fixed Costs and Variable Costs
Fixed costA cost or expense that will not change as a result of changes in revenue or level of business
Variable costA cost that changes in direct proportion to the revenue or volume of business
Fixed Costs and Variable CostsPayroll
Payroll is an example of fixed and variable costs (the largest cost we control)
Depending on Hotel Occ % this needs to be budgeted to flex.
However this is one of the costs that needs to be monitored on a day by day basis.
Operating Equipment
How much you will use during a period? How much is the cost to order? How much is the cost to carry the items in
inventory?
The Impact of Inventory on Cash
The cost of: The item Storing the item Money
TEAMWORK!
Financial Success is about teamwork. It is EVERYONE’S responsibility to ensure that
the hotel is as profitable as possible and, therefore, meets its financial targets!
More Information
Templates of the Slides are available from the UK HouseKeepers Association.
Contact: Arletty JooronExecutive Housekeeper
Cavalry & Guards Club
Thank You