Greetings All, Pay attention to all information given for each area, especially, the cost. The mid term is due on March 23, 2020 utilizingTurnItassignmentNew Boylan Midterm.pdf .
Have Fun and Be Creative in your solutions to minimize the deficit. At the end of your paper you will calculate all new revenue, and then deduct it from the past deficit to identify how much you have reduced the deficit. Please rememberto followdirections. Suggest practical charges for each area, defending your price and its practicality. Indicate any special pricing arrangements for the poor. Be aware that it
View complete question Greetings All, Pay attention to all information given for each area, especially, the cost. The mid term is due on March 23, 2020 utilizingTurnItassignmentNew Boylan Midterm.pdf .
Have Fun and Be Creative in your solutions to minimize the deficit. At the end of your paper you will calculate all new revenue, and then deduct it from the past deficit to identify how much you have reduced the deficit. Please rememberto followdirections. Suggest practical charges for each area, defending your price and its practicality. Indicate any special pricing arrangements for the poor. Be aware that it may cost money to collect a fee. When you conclude that not enough information is available, assume the missing information and proceed from that assumption, but do not assume away the problem. Rememberthat we have eliminatedthe Public Housing componentof the Mid term. Under each section there should be: Brief analysis of the issue Recommendations Rationale Monetary Effect (Basic calculation, if you propose a new cost calculate the cost) *Dont leave your recommendations hanging, e.g., you could do this or you could do that Be managerial: State specific, final recommendations. Dont shirk your job as manager. Be sure to calculate the monetary effect of each program recommendation and the total effect of your recommendations on the city budget deficit.Show all work.(This means show all work.) Write concisely for the mayors advisor, who will forward the best solution to the mayor. Limit: Six pages plus cover page. Memo Format: Introduction paragraph: Identify the problem and the four areas that will be assessed to address the issue. Example for each four areas Swimming Pools(This is one example of how this program could be organized) Be thoughtful and creative in your approach. The city currently operates three free swimming pools that are open from 9 am to 5 pm for 155 days of the years. Although, the pool can hold up to 180 swimmers at a time there is two hour waiting period. Those who wish not to attend the citys pool have the option of going to a private pool in the city that charges a fee of $2.25 for admittance. The free city swimming pools is a space in which the city can create revenue to alleviate the deficit for the upcoming fiscal year. The recommendations on how to do so are below. Recommendations The pools will operate in three sessionsThere will be a $1.50 charge per person from the ages 6 and up, children 5 and under will be free. morning from 9am to 11:30 am Free for neediest community members, determined by family income midday from 12 pm to 2:30pm afternoon from 3 pm to 4:45pm. Swimmers will have to leave after each session Rationale Operating in three sessions will serve multiple purposes. The morning session, which should be the least attended, will allow needy community members to attend the pool free of charge. Also, given that each session will require swimmers to exit the pool, the number of swimmers able to use the pool (as well as revenue) will be maximized. Essentially each session would welcome a maximum of 180 swimmers (150 paid), for a low-end estimate of 180 * 3 = 540 swimmers per day (if no swimmers leave and make more room before the end of the session). The three sessions should also alleviate some of the 2 hour wait, given that swimmers would know exactly when one session ends and another begins. The formerly discouraged swimmers would be able to strategize around the times they would come to the pool. Monetary Effect Current swimming pool revenue = $0 Current swimming pool costs = $60,000 * 3 = $180,000 per year Morning revenue (90 swimmers) = $1.50 * 90 = $135 per day Midday revenue (150 swimmers) = $1.50 * 150 = $225 per day Afternoon revenue (150 swimmers) =$1.50 * 150 = $225 per day Total Revenue = $585 per day (calculations for one pool) Total revenue = $585 per day * 155 days = $90, 675 per year $90,675 per year * 3 pools =$272,025per year Net revenue = $272,025 – $180,000 (operational cost for 3 pools) =$92,025 Conclusion: Identify the total monetary effects of your solutions Budget Deficit Effect Net swimming pool revenue = $ New revenue Net public housing revenue = $ New revenue Net bridges revenue = $ New revenue Net education enrichment revenue =+$ New revenue (Addition)Net total revenue = $ Past deficit = ($6,000,000) Net total revenue =-$ . (Subtraction)New deficit = $
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