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JLBC: Budget Planning


JLBC: Budget Planning

You do not have to be your club treasurer to know the basics of budgeting finances. Whether planning a small social event or a significant community fundraiser, you are learning how to handle and distribute an organization's funds properly can lead to success.

DO

REFLECT

What was the simplest part of planning your budget? The most challenging part? Why?

What did you learn during this process?

How did you prioritize your needs when planning your budget?

Which scenarios were the easiest to budget? The most difficult? Why?

APPLY

JLBC Cadets, why is the ability to plan a budget necessary?

Can you think of some instances in the future where you will need these skills?

OBJECTIVES: For youth to:

organize a special events budget.

Explain and justify budget expenditures.

Learn research methods when creating a budget. Find and explore resources for special events. Improve resource management skills.

LIFE SKILLS:

Managing resources. Budget planning skills.

MATERIALS: Telephone book

Telephone

Flip chart paper

Markers

EVENT SCENARIOS Copies of BUDGET PLANNING Activity Sheet for each youth

Copies of PLANNING A 4-H EVENT Information Sheet for each child Scissors

Pens and Pencils

TIME: 1 hour

SETTING:

Comfortable room with tables and chairs and access to a telephone.

Divide participants into five teams. Give each group an EVENT SCENARIO, a BUDGET PLANNING Activity Sheet, PLANNING A 4-H EVENT Information Sheet, flip chart paper, and markers.

Explain to the teams that they are in charge of the event, and it is their responsibility to create a budget using the finances listed in the scenario. They are to use the BUDGET PLANNING Activity Sheet as a guide when allocating funds. (Not all of the areas on the Activity Sheet will be used for each event.) The only requirement is to plan the event while staying within the allotted budget (no additional funds can be used). Tell participants that they will be presenting their budget to the entire group.

Allow group members to use the telephone, etc., to find out the purchase prices of different objects. This is not a competition so that other groups can share cost information.

Have teams write their budgets using markers and flip chart paper and present their EVENT SCENARIO and proposed budget. Allow groups to discuss and offer suggestions to each other.

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