BUDGET

A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.[1] Business start-up budget The process of calculating the costs of starting a small business begins with a list of all necessary purchases including tangible assets (for example, equipment, inventory) and services (for example, remodeling, insurance), working capital, sources and collateral. The budget should contain a narrative explaining how you decided on the amount of this reserve and a description of the expected financial results of business activities. The assets should be valued with each and every cost. All other expenses are like labour factory overhead all freshmen expenses are also included into business budgeting. Corporate budget The budget of a company is often compiled annually, but may not be a finished budget, usually requiring considerable effort, is a plan for the short-term future, typically one year (see budget year). While traditionally the Finance department compiles the company's budget, modern software allows hundreds or even thousands of people in various departments (operations, human resources, IT, etc.) to list their expected revenues and expenses in the final budget.

If the actual figures delivered through the budget period come close to the budget, this suggests that the managers understand their business and have been successfully driving it in the intended direction. On the other hand, if the figures diverge wildly from the budget, this sends an 'out of control' signal, and the share price could suffer Event management budget A budget is a fundamental tool for an event director to predict with reasonable accuracy whether the event will result in a profit, a loss or will break-even. A budget can also be used as a pricing tool. There are two basic approaches or philosophies when it comes to budgeting. One approach is telling you on mathematical models, and the other on people. The first school of thought believes that financial models, if properly constructed, can be used to predict the future. The focus is on variables, inputs and outputs, drivers and the like. Investments of time and money are devoted to perfecting these models, which are typically held in some type of financial spreadsheet application. The other school of thought holds that its not about models, its about people. No matter how sophisticated models can get, the best information comes from the people in the business. The focus is therefore in engaging the managers in the business more fully in the budget process, and building accountability for the results. The companies that adhere to this approach have their managers develop their own budgets. While many companies would say that they do both, in reality the investment of time and money falls squarely in one approach or the other. Government budget

For more details on this topic, see Government budget. The budget of a government is a summary or plan of the intended revenues and expenditures of that government. There are three types of government budget : the operating or current budget, the capital or investment budget, and the cash or cash flow budget.[3] United States Main article: United States federal budget The federal budget is prepared by the Office of Management and Budget, and submitted to Congress for consideration. Invariably, Congress makes many and substantial changes. Nearly all American states are required to have balanced budgets, but the federal government is allowed to run deficits. India Main article: Union budget of India The budget is prepared by the Budget Division of Department of Economic Affairs of the Ministry of Finance annually. This includes supplementary excess grants and when a proclamation by the President as to failure of Constitutional machinery is in operation in relation to a State or a Union Territory, preparation of the Budget of such State. The railway budget is presented separately.

Philippines The Philippine budget is considered the most complicated in the world, incorporating multiple approaches in one single budget system: line-item (budget execution), performance (budget accountability), and zero-based (budget preparation). The Department of Budget and Management prepares the National Expenditure Program and forwards it to the Committee on Appropriations of the House of Representative to come up with a General Appropriations Bill (GAB). The GAB will go through budget deliberations and voting; the same process occurs when the GAB is transmitted to the Philippine Senate. After both houses of Congress approves the GAB, the President signs the bill into a General Appropriations Act (GAA); also, the President may opt to veto the GAB and have it returned to the legislative branch or leave the bill unsigned for 30 days and lapse into law. There are two types of budget bill veto: the line-item veto and the veto of the whole budget. Personal or family budget For more details on this topic, see Personal budget. In a personal or family budget all sources of income (inflows) are identified and expenses (outflows) are planned with the intent of matching outflows to inflows (making ends meet). In consumer theory, the equation restricting an individual or household to spend no more than its total resources is often called the budget constraint. Elements of a personal or family budget usually include, fixed expenses, monthly payments, insurance,entertainment, and savings.

There are many informational sites and software available for use in personal and family budgeting. Budget types

Sales budget an estimate of future sales, often broken down into both units and currency. It is used to create company sales goals. Production budget an estimate of the number of units that must be manufactured to meet the sales goals. The production budget also estimates the various costs involved with manufacturing those units, including labor and material. Created by product oriented companies.

Capital budget - used to determine whether an organization's long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth pursuing. Cash flow/cash budget a prediction of future cash receipts and expenditures for a particular time period. It usually covers a period in the short term future. The cash flow budget helps the business determine when income will be sufficient to cover expenses and when the company will need to seek outside financing. Marketing budget an estimate of the funds needed for promotion, advertising, and public relations in order to market the product or service. Project budget a prediction of the costs associated with a particular company project. These costs include labour, materials, and other related expenses. The project budget is often broken down into specific tasks, with task budgets assigned to each. A cost estimate is used to establish a project budget.

Revenue budget consists of revenue receipts of government and the expenditure met from these revenues. Tax revenues are made up of taxes and other duties that the government levies. Expenditure budget includes spending data items.

Planning a home budget is not a difficult task, but it does require persistence and dedication. It's important to have a home budget in place whether you're trying to save money or you want to stop overspending on non-essential items. Take the necessary steps to put your financial life in order by creating a home budget for your family. Items you will need

Paper Pen Bills Calculator

Sponsored Link IPL 6 on YouTubeyoutube.com/IPL Watch all the IPL action with your friends, wherever you are. Step 1 Calculate your expected monthly income for each month of the year. It's important to figure out each month separately as this allows room for expected bonuses or seasonal employment. If your company always gives an annual bonus during December, for example, add this to your December income.

Step 2 Calculate your expected expenses for each month. Include quarterly and annual expenses such as insurance payments and property taxes. Don't forget to include room for gifts during the holidays or for birthdays. If you plan on purchasing your Christmas gifts in December, make sure to list your budget for each person as well. If you're expecting a bonus from your employer, this will offset the additional expenses. If you don't receive a bonus, use money that you've saved throughout the year. Step 3 Divide your expenses into categories to determine if each item is fixed or variable. Fixed expenses include items such as car and mortgage payments and other necessary costs that remain the same each month. Variable expenses include groceries, entertainment and other costs that can fluctuate from month to month. For variable expenses, calculate the average cost by examining the most recent three months. Step 4 Determine if your expenses exceed your expected income or vice verse. If your expected income exceeds your expenses, allocate an amount to set aside for your savings account each month. Treat this as if it were a bill paid to yourself. Don't touch the savings unless there is an emergency, or if you have reached your savings goal. If your expenses exceed your income, make adjustments, beginning with the variables first. Take away or reduce non-essential spending until your income exceeds your expenses.

Step 5 Save money whenever possible for unexpected events and planned trips. It's always important to have savings set aside for medical emergencies or unexpected expenses. Even if you and your family are planning a trip, having savings set aside helps you plan more efficiently, rather than waiting until the last minute, then spending your entire paycheck on the vacation. A Personal Budget is a plan to manage money effectively by keeping track of income changes and monitoring expenses. Everyone has to balance spending between housing, health care, car, recreation and many other things. A budget is a useful tool to balance these needs and avoid getting into debt.

Allocation guidelines

The 60% solution: Following every expense is hard and most of the times, one of the main reasons why people stop following their budget. Richard Jenkins[4] suggested that allocating approximately 60% of your income to fixed expenses allows enough savings. Fixed expenses include things like tax, Social Security, phone bills, utilities, etc. The rest of the money is divided up into 401(k), savings, recreational and contingency expenses.

Set up an emergency or a contingency fund, in order to provide for various foreseen and unforeseen circumstances.

Allocation for housing: 25% of the total income is generally the recommended amount set aside for housing expenses and mortgage payments. This round figure can rise or fall, depending on the location. In states like California and Florida, it could go up to 30%.

Events that affect financial planning

Getting married amalgamates two financial plans into one, both spouses have to plan in consideration of the other individual as well. Every aspect of budgeting is revised post-marriage. Life, Health, Casualty and Automobile insurance is revised and accounts are shared as well. If there are children involved, a college savings account is set up as well.

Similarly, death of a spouse involves major changes in insurance coverages and re-distribution of the assets. If the spouse was the main income source for the family, the budget and expenses need to be cut down dramatically to accommodate for this event. Social Security checks account for "survivor benefits" that provide monthly payments for the person left behind. Designated beneficiaries take over the 401K plan if the main beneficiary passes away.

Retirement is generally at the age of 59 1/2 years, changing a few aspects in the budget. Primarily, the 401K plan matures and becomes the main source of income and possible increases in health care expenses are some of the things that need to be taken care of.

A birth of a child is a time to review all insurance coverages and plan for further expenses. The budget needs to accommodate for another person, especially since, income will not increase. Health care insurance might not cover pregancy and maternity care. Moreover, serious consideration needs to be given to disability insurance, so that it covers substantial amount of

expenses in case the earning spouse has a mishap. Having a child also begets the question of their education and making adequate provisions.

Losing a job or disability reduces significantly or eradicates the main source of income. Disability Insurance covers for medical expenses and provides replacement income, this depends on the premium being paid. Losing a job, especially the main source of income entails major expense cuts in the budget in order to save money, although people are eligible unemployment benefits such as a regular stipend.

Medical Expense for a unforeseen situation, especially if uninsured, strain many budgets. Setting up a contingency fund to pre-empt such major expenses are the best to mitigate the possibility of busting a budget.

Survey of Sim Cards, Talk Time, rate cutters & Various schemes

A Subscriber Identity Module (SIM) card is a portable memory chip used mostly in cell phones that operate on the Global System for Mobile Communications (GSM) network. These cards hold the personal information of the account holder, including his or her phone number, address book, text messages, and other data. When a user wants to change phones, he or she can usually easily remove the card from one handset and insert it into another. SIM cards are convenient and popular with many users, and are a key part of developing cell phone technology.

Activating a SIM Card Since all of a user's data is tied to the SIM card, only it needs to be activated when the person opens an account with a cell phone service provider (also called a carrier). Each card has a unique number printed on the microchip, which the carrier needs to activate it. In most cases, the phone's owner can go either to the carrier's website and enter this number in the appropriate tool or call the service provider directly from another phone to get it turned on. SIM cards are tied to a particular carrier and can only be used with a service plan from that carrier.

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Swapping Handsets One of the biggest advantages of SIM cards is that they can easily be removed from one mobile phone and used in any other compatible phone to make a call. This means that, if the user wants to buy a new handset, he or she can activate it quickly by inserting his or her old SIM card. The user's phone number and personal information is carried on the card, so there's no need to do anything else to transfer this information. Most phone applications (apps) are stored in the phone's memory or secure digital (SD) card, however, so they will not be transferred to the new handset.

Some cell phone carriers lock their handsets; this means they will only work with SIM cards from that carrier. This is especially common in the US, where service providers sell the handsets at a discount in exchange for the consumer signing a long-term contract for service. Handsets can be unlocked with the right code, however, although the exact process varies by manufacturer and model. Any SIM card can be used with an unlocked phone. Phones without a card, or with one that is not compatible, can typically only be used for emergency calls.

Pre-Paid SIMs Pre-paid SIM cards are also available, allowing a phone that's locked to the pre-paid carrier's network or an unlocked phone to be used without a longterm contract. This type of card is useful for people who don't want to be tied to one carrier, or who want to try out a service provider before committing. It's especially useful for international travelers, who can

purchase a local SIM card to use their phone abroad. This allows the user to keep the same phone with the apps and other settings that are stored in it without paying international roaming charges from the carrier back home. It also gives the traveler a local phone number, making it less expensive for people to call the traveler from within the same country.

SIM Cards Sizes SIM cards are made in three different sizes to accommodate different devices. Most phones use mini-SIM or micro-SIM cards, which are quite small the mini is 25 mm by 15 mm (0.98 in by 0.59), and the micro is 15 mm by 12 mm (0.59 in by 0.47 in). Full-sized cards are much larger, 85.6 mm by 53.98 mm (3.37 in by 2.13 in), and are too big for most phones. All cards are only 0.76 mm (0.03 in) thick, however, and the microchip contacts are in the same arrangement. This means that, with the proper adapter, the smaller cards can be used in devices designed for larger ones.

Rate cutter tariff benefits are applicable on Home network only The call duration is measured with accuracy up to +/- 1 second as per TRAI Regulations

Call charges are calculated based on the call units which are calculated by dividing call duration by the pulse rate defined in the Tariff Plan.

International Roaming at Local Rates Use TSIM's country specific SIM cards if you are traveling to a single country. These have the lowest call rates and local numbers so locals can call you easily. Incoming is free in most countries, and most sims have the option of unlimited calls to India.

Some Details:

SIM cards available only in the countries listed in SIM card matrix. Deep Discounted rates (marked DD) are for upto 20 destination numbers. Cards below that have option of Unlimited India calls revert to per minute pricing after option expires.

We require a copy of your passport, visa and credit card. Cards need to be preferably booked 3 days in advance. Compatible world phone models also available. Minimum Bill is US$1 per day or US$10 per trip, whichever is higher.

Country Wise SIM Card Matrix (US$) USA

Incoming: 0.15/min Outgoing - Local: 0.15/min Outgoing - India: 0.15/min SMS - Local & International: 0.25/message Data - T Mobile: 0.58/MB, increment: 50KB PermaNumber - India forwarding: 0.05/min Network: T Mobile (GSM 1900MHz) NW Selection: Automatic Roaming: Card roams in 150 countries

UK

Incoming: FREE Outgoing: 0.09/min

Outgoing - India: 0.09/min SMS - Local - 0.29/message SMS - International: 0.29/message Data - 0.09/MB, increment: 1kb PermaNumber - India forwarding: FREE Network: Orange (GSM 1800; 3G 2100) NW Selection: Automatic Roaming: Card roams in 150 countries

UAE

Incoming: FREE Outgoing - Local: 0.21/min Outgoing - India: 1.28/min Calls to India -DD: 0.30/min DD India Unlimited, 15 days: 70.00 DD India Unlimited, 30 days: 125.00 SMS - Local- 0.18/message SMS - International: 0.48/message Data - 0.06/10kb Network: Du (GSM 900/1800; 3G 2100) NW Selection: Automatic

THAILAND

Incoming: FREE Outgoing - Local: 0.20/min

Outgoing - India: 1.50/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.35/message SMS - International: 0.35/message Data - 0.06/10kb Network: AIS (GSM 900) NW Selection: Automatic SWEDEN, IRELAND, SPAIN, GERMANY, POLAND, FRANCE, NORWAY, DENMARK,

SWITZERLAND, NETHERLANDS, AUSTRALIA

Incoming: FREE Outgoing - Local: 0.19/min Outgoing - India: 0.19/min Direct India Unlimited, 15 days: 30.00 Direct India Unlimited, 30 days: 50.00 SMS - Local & International: 0.19/message Data - 0.39/MB NW Selection: Automatic Roaming: Multiple countries on same SIM!

SINGAPORE

Incoming: FREE Outgoing - Local: 0.27/min

Outgoing - India: 1.00/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.20/message SMS - International: 0.35/message Data - 0.10/10kb Network: SINGTel (GSM 900/1800; 3G 2100) NW Selection: Automatic

MALAYSIA

Incoming: FREE Outgoing - Local: 0.17/min Outgoing - India: 1.25/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.20/message SMS - International: 0.31/message Data - Unavailable Network: Maxis (G900/1800; 3G 2100) NW Selection: Automatic

ITALY

Incoming: FREE Outgoing - Local: 0.25/min

Outgoing - Local (Cross Network): 0.30/min Outgoing - India: 2.60/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.30/message SMS - International: 0.45/message Data - Unavailable Network: Vodafone (GSM 900/1800; 3G 2100) NW Selection: Automatic

HONG KONG

Incoming: 0.10/min Outgoing - Local: 0.10/min Outgoing - India: 0.50/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.20/message SMS - International: 0.30/message Data - 0.15/10kb Network: CSL HK (G900/1800; 3G 2100) NW Selection: Automatic

CHINA

Incoming: 0.16/min

Outgoing - Local: 0.16/min Outgoing - India: 1.18/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.07/message SMS - International: 0.26/message Data - 0.08/10kb Network: China Mobile (GSM 900) NW Selection: Automatic

more info CANADA

Incoming: 0.20/min Outgoing - Local: 0.20/min Outgoing - India: 0.20/min SMS - Local & International: 0.25/message Data - Bell Mobility & Telus: 0.024/50KB PermaNumber - India forwarding: 0.05/min Network: Telus / Bell (3G 850/1900) NW Selection: Automatic Roaming: Card roams in 150 countries

AUSTRIA

Incoming: FREE Outgoing - Local (Fixed): 0.19/min

Outgoing - Local (Cross Network): 0.62/min Outgoing - India: 2.85/min Calls to India -DD: 0.19/min DD India Unlimited, 15 days: 30.00 DD India Unlimited, 30 days: 50.00 SMS - Local- 0.33/message SMS - International: 0.36/message Data - 0.11/10kb Network: T Mobile (GSM 900/1800; 3G 2100) NW Selection: Automatic

NEWS PAPERS
Share (newspaper)
From Wikipedia, the free encyclopedia Jump to: navigation, search

Share is a Caribbean and Black Canadian community newspaper based in Toronto, Ontario, Canada. Canada's largest ethnic newspaper, Share has two times the circulation of any other Canadian newspaper serving the same ethnic community. It is distributed free of charge in many locations, particularly in the Greater Toronto Area. The weekly publication, on quarter-folded, tabloid-sized newsprint, includes news from the Caribbean and Africa, sports, entertainment, business, religion, analysis, and commentaries from its community's point of view.

Arnold Auguste is the newspaper's publisher. Founded in April 1978, Share is owned by Arnold A. Auguste Associates Limited.

Before getting into the newspaper records of stock market activity, you would need to have background knowledge about how and why companies create stock, how companies determine dividends, and what the symbols in the stock table mean.

Once you have that working knowledge, I would suggest selecting a portfolio of stocks that are included in the daily stock market table of the newspaper you will be using. Create a spreadsheet or other method of tracking the information you want to include in your report and add the statistics for each of your stocks in each of your categories every day for a period of time. Ideally, this would extend over a long period (at least one month) but you may need to use a shorter time span. If you are allowed to use other resources in addition to the newspaper, check readings for your chosen stocks over the past months and years by looking up the stock records on their websites.

When you are done collecting your data, you will be able to use it to analyze sales trends, price fluctuations, correlation of sales prices or dividend payments to current news events, how stock prices and dividend payments relate to companies being bought and sold by other businesses, and many other possible topics. Some of your information may be limited by the data you actually have to use, but you should be able to compile and present quite a bit of information.

RUNNING A CANTEEN

CANTEEN MANAGEMENT Effective management In addition to providing the school community with nutritious and affordable foods, the canteen should be based on good management practices and be financially self-sustaining. Experience shows that, with good management and marketing practices, a canteen can provide healthy foods and also be financially viable. The school canteen is a small business. Like any business, it requires good management practices to be efficient and successful. Effective canteen management requires that: everyone involved knows its goals and objectives and is familiar with its policies canteen staff and committee develop an implementation plan to achieve policy goals day-to-day operational procedures are structured and enforced staff are adequately trained and supervised staff carry out efficient stock management, accounting and financial procedures staff are familiar with and comply with relevant legal requirements regarding food safety and occupational health and safety standards.

The day-to-day operations of the canteen are managed either by a paid worker or a volunteer. School councils usually form a canteen committee to manage canteen issues. All profits from the canteen are transferred to the school council. Income from the canteen must be adequate to meet expenses incurred including provision

for staff superannuation, sick leave, annual leave and other benefits and depreciation. If a school canteen is sub-leased to a private contractor, the school council should ensure that the contract specifies that food be sold in accordance with the Go for your life Healthy Canteen Kit Food Plannerand the Dietary Guidelines for Children and Adolescents in Australia. It should also ensure that the operation (including stores, stocktaking, trading, profit and loss statements) of school canteens and other school food services is consistent with the information provided in section 7.17 of the Victorian Government Schools Reference Guide. Many school councils are now recognising that an important aim of the canteen, in addition to being financially viable, is to provide nutritious foods and promote healthy eating. This aim should be acknowledged in the canteen policy.30 I cenario 1: Full-time paid canteen manager plus paid staff and/or volunteers The canteen manager is present at all times and their work is supported by paid staff and possibly volunteers. Management agreements The management agreement between the parties should state clearly how any profits made from the canteen are to be distributed. There are a number of options that should be considered. The school council pays profits to the school for

inclusion in the annual school budget and expenditure is in accordance with school priorities established by the school community in the school charter and plan. The school council pays profits to the school but they are not included in the annual school budget. The school and school council determine the use of profits together. This option allows for some of the canteen profits to be invested back into the canteen so that healthy changes can continue to be made. External catering

contractors pay a set annual payment per head of student population or pay an agreed percentage of profits back to the school council.

It is important that food services that are externally contracted or ordered from offsite businesses are involved in, aware of and follow the schools canteen policy. It is a good idea to stipulate guidelines within the canteen policy, for example regarding nutrition and promotion of healthy foods, within contracts and tenders with external caterers. employing staffEmploying canteen staff is the role of the school council with approval from the principal. When employing paid and voluntary canteen staff, it is important to follow good staff management procedures: following the correct industrial award or agreement having a formal job description and interview processdrawing up an official employment contract providing a staff supervisorhaving a performance review processproviding adequate trainingestablishing a complaints resolution procedure.For more information on employment and management of staff for school canteens, including job descriptions, pay rates, employer entitlements and relevant awards, contact the Australian School Canteens Association. Contact details of the Association are provided in the resources section of this manual. STOCK MANAGEMENT The purchase of goods is a significant canteen expense and therefore it is critical that this process is organised and efficient. It is important to: buy products at the best price buy appropriate quantities ensure safe, high-quality product sorder at the appropriate time. Who should be responsible for ordering stock? Only one person in the canteen should be responsible for ordering stock, which includes foods, drinks, packaging, utensils, first aid and cleaning materials. Ideally this will be the canteen manager, or a person who oversees most of the canteen and has the largest time involvement. Allocating this responsibility to only one person

is important as it prevents confusion and over-ordering, maintains consistency and ensures maximum efficiency.Canteens generally return higher profits when they restrict the number of suppliers and range of stock. Restricting the number of suppliers can be beneficial as it allows canteen staff to develop management rapport with a supplier. This can also result in special services and treatment, such as discounts and better quality of service. Minimising the range of stock assists in reducing slow turnover items, which can lead to spoilage. It will also allow you to use employees and volunteers with less training given there are less products to work with.Both of these practices will also result in more efficient ordering with fewer orders needing to be placed.It is important to ensure that when minimising the range of stock in a canteen the range and variety of nutritious foods, such as fruit and vegetables, is not reduced. HOW DO I CHOOSE A SUPPLIER? The following pointers should help you in selecting a good supplier. An ideal supplier: is located locally has been recommended by other school canteens delivers frequently, and will do so at a convenient and suitable time for the canteen delivers stock in good condition, for example ice-cream which is always frozen and fruit and vegetables which are always fresh delivers stock with the maximum shelf life follows appropriate storage, handling and food safety requirements, such as adequate refrigeration for chilled and frozen goods and shade and cover for fresh produce uses adequate packaging and handling procedures to ensure products are not damagedoffers an adequate range of product scommunicates well, keeping you informed of price changes, specials and product availability offers competitive prices, as well as specials, discounts and incentivesoffers taste-testing opportunities or free samples to trialprovides free promotional material in line with your healthy canteen policy, such as posters promoting healthy food productsoffers incentives,

such as equipment rewardsoffers convenient and acceptable payment procedures, including method of payment and settlement terms.

Never select food or drink products that fail to reflect nutrition standards detailed in the canteen policy even if the supplier can offer a lucrative deal, such as bargain prices or equipment rewards.

CANTEEN MANUAL When to orderIt is important to maintain the lowest level of stock while at the same time having sufficient stock to use or sell. This reduces the risk of stock spoiling while in storage and also allows the canteen to potentially be earning interest on money in the bank instead of invested in stock sitting on shelves. It is also important to aim to have as little stock as possible left over by the end of term to prevent spoilage over term holidays.How often your canteen needs to order stock will depend on: how long it takes for the supplier to deliver the orderhow regularly your supplier delivers rural schools or canteens using infrequent suppliers may need to order products with a longer shelf lifethe shelf life of the product order less items more frequently to reduce wastage of perishable stock and aim to use fresh fruit and vegetables by the end of the week to prevent spoilage and decrease in quality over the weekendstorage space this will vary according to seasons, for example refrigeration will be used more during warmer weather, so more regular ordering of chilled items may be required at this time.Check the stock currently in the canteen. By using an ordering list containing information on each supplier and their products, you can quickly view current stock and record what items need to be reordered. Keep a record of all orders and note when it was requested.

When determining how much stock to order for your canteen, it is important to take into consideration the following:whether individual products are selling wellwhether your supplier is offering discounted items and sales on products you usually stockany changes in the canteen menupopularity of certain items due to seasonal changes special days, awareness weeks or cultural events that might affect the types of foods being sold and bought upcoming special events and functions, such as open days and sporting days, which may affect the sales figures for those days additional catering requirements such as providing for committee meetings class excursions that may result in either an absence of lunch orders or the need for additional cateringclass absenteeism, especially during key times such as Year 12 pre-exam period, or when year levels are located at alternative campuses for a term public holidays and curriculum days where the canteen is closedterm holidays. Stock orders for special events should be kept separate from the stock order tally for canteen sales. If not, the mark-up schedule for the canteen will be incorrect, as products ordered have not actually been sold through the canteen. RECEIVING STOCK Check the delivery docket and suppliers invoice against the order placed. Check for price increases and update the supplier ordering list. Dont forget to adjust the canteen selling prices accordingly. Check the quantity and quality of stock, for example whether refrigerated products are adequately chilled or frozen. Ensure that products are intact and not damaged. Check use-by dates. Put chilled or frozen products away immediately. When restocking refrigerators and shelves, place the new deliveries at the back to ensure that older stock is used first. USING STOCK Products approaching their use-by dates may need to be used up quickly to prevent wastage, especially before weekends and term holidays. Strategies to use up stock

quickly include: reducing the price of slow-selling stock introducing a recipe of the week to use up ingredients offering specialsincluding products or fresh fruit in meal deals.For more ideas on turning stock over quickly, refer to Promotion and marketing .

Stocktaking should be done on a regular basis so that the canteen can account for all stock, including items which have been sold or discarded. Increase the turnover of short-shelf-life products by extending hours of operation (without necessarily increasing the cost of operation), for example afternoon tea could be offered to students or teachers. FINANCIAL MANAGEMENT In order for a canteen to be financially viable, income from selling food must either be equal to or greater than the expenses involved in running the canteen. Accurate costing of foods plays a very important part in determining income. A financially successful canteen also requires efficient management of all canteen resources. The following section details why it is important to:account for all canteen money account for all stock determine the cost price of pre-packaged items and recipes determine the selling price of pre-packaged items and recipes per serve. Accounting for canteen money The canteen needs to ensure that all canteen money can be accurately tracked at all times. MANAGEMENT OF MONEY INVOLVES: Running off cash registers at the end of each trading period during the day (if applicable) counting money and balancing cash registers at the end of each day maintaining a standard float banking each day and keeping minimal money in the canteen accurately recording payment of all orders and invoices accurately

recording all cheques accurately recording all petty cash expenses.It is recommended that all stock should be paid for by cheque or electronic transfer,

with petty

cash being used only for the purchase of items of

a minor or

unexpected nature. Only a small petty cash float should be kept. School Canteens and the GST School-operated canteens are non-profit bodies under GST legislation and can choose from two GST methods for reporting their transactions for tax purposes input taxed or fully taxed GST. The Department recommends that schools that operate profitable canteens use the input taxed method. Under this method schools code all purchases

Schools using the input taxed method do not need to report any GST-inclusive transactions on the Business Activity Statement (BAS) to the Australian Taxation Office. Where costs, such as electricity, cleaning, insurance, etc., are jointly used by both the school and the canteen these costs will need to be split between the school and the canteen. For example, where a bill is for the whole school, no input tax credits can be claimed on the portion of costs that relate to the canteen. In these instances the invoice should be split charged with the school share charged as GST inclusive or G11 and the canteen share charged as input taxed or G13. More detailed information on school canteens and the GST is available from

ACCOUNTING FOR STOCK The canteen should be able to account for stock numbers, so that incoming stock always balances outgoing stock. This ensures that an accurate income can be recorded. Records should include goods which are disposed of due to being past their expiry date, items used in meal deals, taste testings and freebies. It is important to check deliveries to ensure that all stock ordered has been supplied. Accurate monitoring of stock should allow you to determine if stock is missing. Determining the cost price of pre-packaged items and recipes. The cost price of a pre-packaged item is the amount it costs the canteen to purchase that item.

Selling prices of items can easily be determined using the wholesale price of the goods, especially as this price generally does not change.

Inform the school community of price changes in the school newsletter. You dont necessarily need to wait until the menu is altered to change individual prices. Changes in price can be due to:seasonal availability, particularly of fruit and vegetables bulk purchasediscounted items and sales competitive prices incentives taste-testing opportunities or trial of free samples.The cost price of recipes is the amount it costs the canteen to make a meal, snack or drinks which use a variety of ingredients and packaging. To determine the cost price of recipes, the cost of all ingredients and packaging is taken into account. Many canteens also include overhead costs, such as wages, electricity, gas, water and equipment expenses. The canteen may also wish to take into account specials, discounts and equipment subsidies that are provided by the supplier.It is important for the canteen to have standard recipes with strict quantities of ingredients and standard serving sizes in order to accurately price recipes, for example a consistent quantity of filling each time for sandwiches. Using portion-control equipment assists in making serves of foods and drinks accurate and consistent according to the recipe. This could be as simple as using a tablespoon instead of a handful of sultanas.A template that you can use to determine the price of recipes is provided. This template provides space for you to list each individual ingredient, serving size, cost of each ingredient per serve and recipe instructions. Please note that this manual only takes into account ingredient and packaging expenses. Remember to cost out recipes accurately by including all ingredients, even the butter or chutney

which is used in sandwiches. Underestimating the cost of recipes even for small quantities of ingredients can affect profits in the long term. The recipe template can help work out the cost price of prepared foods, and help identify whether or not foods can be prepared more economically. Some recipes may need altering across seasons in order to keep their cost price the same. For example, try varying the fresh fruit used to make smoothies if the usual fruit ingredient becomes too expensive. Avoid unnecessary packaging and wrapping. This not only reduces the cost of products but also helps the environment.

STAFF AND VOLUNTEERS The school canteen manager plays a vital role in the coordination and management of the canteens volunteers. Volunteers can be: parents people from the wider community students. REASONS FOR VOLUNTEERING Contributing to, and being part of, the school community.Giving something to the school. Learning about food and nutrition. Increasing knowledge and skills in the areas of cooking and food preparation, food hygiene and safety, nutrition, customer service and cash handling. MAKING NEW FRIENDS AND ENJOYING OPPORTUNITIES to socialise.What to expect Allow volunteers time to adjust to their role, gain confidence and improve their skills. Be realistic be prepared to do most of the work yourself. Be a good role model. Communicate clearly. Student volunteers Students can help design posters and flyers promoting healthy eating or they can help to think of new menu ideas. Talk to teachers to see if students can work on developing promotional materials as a class activity. Get students to write a letter to parents requesting volunteer help

you could use these student articles in the school newsletter. Student volunteers need adequate supervision. It is also important to make sure that volunteering does not interfere with their studies. Coordinating a volunteer program Coordinating a volunteer program involves: recruiting retaining recognising and rewarding. RECRUITING VOLUNTEERS Identify how many volunteers you will need to make a regular commitment and how many you will need only to provide casual assistance. Its a good idea to plan for the year, keeping in mind special days or events when additional volunteer assistance will be required. Assume that volunteers will come and go. Develop a list of interested volunteers who will fill casual positions and prevent an unexpected shortage of assistance. Plan rosters so that volunteers know how much time is required and the length of commitment expected.Develop a job description for the volunteer positions available so that volunteers know what is expected of them. This should include a list of specific tasks involved, skills and training required, level of responsibility, and personal attributes which would be looked upon favourably, such as own transport.Offer a range of tasks or jobs to choose from so that volunteers have options. For example, a volunteer may not feel comfortable dealing with customers but is happy to be involved with food preparation. Some voluntary jobs may also allow volunteers to assist in their own time, for example researching new recipes or assisting with promotion and marketing. Include a canteen roster when advertising for volunteers that indicates which gaps need to be filled. This enables readers to see what the commitment involves.