Annual Budget Tracker
Prepared by: [YOUR NAME]
Date: January 1, 2053
1. REVENUE SOURCES
Source | Budgeted Amount | Actual Amount | Variance |
|---|
Sales Revenue | $500,000 | $510,000 | $10,000 |
Grants | $100,000 | $95,000 | -$5,000 |
Other Income | $25,000 | $23,000 | -$2,000 |
Total Revenue | $625,000 | $628,000 | $3,000 |
2. EXPENSES
Category | Budgeted Amount | Actual Amount | Variance |
|---|
Salaries and Wages | $200,000 | $205,000 | $5,000 |
Office Supplies | $20,000 | $18,500 | -$1,500 |
Marketing | $50,000 | $52,000 | $2,000 |
Total Expenses | $270,000 | $275,500 | $5,500 |
3. NET INCOME
Category | Amount |
|---|
Total Revenue | $628,000 |
Total Expenses | $275,500 |
Net Income | $352,500 |
4. CASH FLOW
Category | Budgeted Amount | Actual Amount | Variance |
|---|
Opening Cash Balance | $50,000 | $50,000 | $0 |
Cash Inflows | $600,000 | $610,000 | $10,000 |
Cash Outflows | $270,000 | $280,000 | $10,000 |
Closing Cash Balance | $380,000 | $380,000 | $0 |
5. SUMMARY AND NOTES
Net Income: The company achieved a net income of $352,500 for the year, which is above the budgeted amount of $355,000.
Revenue Variance: The sales revenue exceeded expectations by $10,000, largely due to increased demand in Q4.
Expense Variance: The Marketing expenses were slightly over budget by $2,000, while Office Supplies were $1,500 under budget.
Action Plan: The next fiscal year will focus on cost control in areas such as office supplies, while also aiming to maintain strong revenue growth.
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