The project in five facts.
Challenge, approach and results.
Public institutions in the field of culture are non-profit organisations established by the state or local community to meet broader social needs. They are financed from the state or municipal budget and generate only a small proportion of their own revenue through their activities. A financial plan is a plan for managing financial resources in the planned period, linked to the planning of receipts and expenditures. For the institution as a whole, it is very important to ** analyse the adopted financial plan against the realised one** and identify deviations and find the causes of their occurrence, as this information will enable easier and more realistic financial planning in the future period.
Problem
Public institutions in the field of culture are non-profit organisations established by the state or local community to meet broader social needs. They are financed from the state or municipal budget and generate only a small proportion of their own revenue through their activities. Financing and all other obligations to the founder are coordinated by contract.
The institution is obliged to prepare a financial plan for each project separately and for the institution as a whole.
Solution and Method
A financial plan is a plan for managing financial resources in the planned period, linked to the planning of receipts and expenditures. Before preparing the financial plan, it is necessary to prepare budgets for individual projects that will be implemented in a specific time period.
Results
For the institution as a whole, it is very important to analyse the adopted financial plan against the realised one and identify deviations and find the causes of their occurrence, as this information will enable easier and more realistic financial planning in the future period. Institutions must spend resources as ** economically** as possible in order to implement all projects planned in a specific time period, whilst at the same time striving for the greatest possible efficiency and effectiveness of their operations.
Module, programme and stories.
Your diploma project for a real company.
A diploma thesis at Academia solves a challenge from a company. Book a consultation.