Question

Prepare a tuition revenue budget for the upcoming academic year. 16,500 1,320 17,820 Tuition revenue budget: Current student enrollment Add: Increase in student body Total student body Less: Tuition-free scholarships Tuition-paying students Credit hours per student per year Total credit hours Tuition rate per hour Forecasted tuition revenue 200 17,620 45 792,900 85 $67,396,500

Answer 1

1.Statement of tution revenue budget

Details	Amount$
Total students- 108% of 16500	17,820
Less;Scholarship on tuition fee	200
Tutioin paying students(a)	17,620
Credit hours/year(b)	30
Total credit hours(a)*(b)	528,600
Tuition rate per hour	85
Budgeted tution revenue	44,931,000

2.Statement of no of faculty memebers required

Details	Amount$
Total no of students - 108% of 16,500	17,820
Clases for each studer per year	5
Total classes	89,100
Student in each class	20
Claases to be taken	4,455
Classes per professor	5
Total no of faculty required	891

3.If fulltime faculty members are unavailable, more number of pat time staff will be recruited. Additionally, every professor should take more classes to cover further student classes.Class sizes can increased and thus reduce number of scetions offered to sudents

4.No it wrong statement. Faculty members are not key drivers in preparing budgets. Main purpose of this business to earn revenue through teaching students. Therefore students and tutions are the main source of revenue for this business ad budgets should be prepared keeping this in focus.