Annual Budget Cash-Flow Statement 2017
Name: Deon and May Daley
2016 |
Jan. |
Feb. |
Mar. |
Apr. |
May |
Jun. |
Remarks |
|
INCOME |
||||||||
Deon’s salary |
56,000 |
4,900.00 |
4,900.00 |
4,900.00 |
4,900.00 |
4,900.00 |
4,900.00 |
Last year’s annual salary is 56,000. Monthly salary = 56,000 / 12; Increase this by 5% |
May’s salary |
50,400 |
4,326 |
4,326 |
4,326 |
4,326 |
4,326 |
4,326 |
Last year’s annual salary is 50,400. Monthly salary = 50,400 / 12; Increase this by 3% |
Deon’s Bonus |
5,000 |
5,600.00 |
- |
- |
- |
- |
- |
10% of 56,000 (last year's salary); paid out in January |
Interest and dividends |
150 |
12.50 |
12.50 |
12.50 |
12.50 |
12.50 |
12.50 |
Same as last year; divide it by 12 to convert into per month figure |
Total Income |
$111,550 |
14,838.5 |
9,238.5 |
9,238.5 |
9,238.5 |
9,238.5 |
9,238.5 |
Sum of above line items |
EXPENDITURES |
||||||||
Fixed Expenses |
||||||||
Mortgage |
14,976 |
1,248.00 |
1,248.00 |
1,248.00 |
1,248.00 |
1,248.00 |
1,248.00 |
same in 2017 as they were in 2016; divide the annual figure of 2016 by 12 to get monthly figure for 2017 |
Deon’s federal income taxes |
12,200 |
2, 100 |
980 |
980 |
980 |
980 |
980 |
20% x (Salary + Bonus) |
Deon’s state income taxes |
3,660 |
630 |
294 |
294 |
294 |
294 |
294 |
6% x (Salary + Bonus) |
Deon’s social security taxes |
4,667 |
803.25 |
374.85 |
374.85 |
374.85 |
374.85 |
374.85 |
7.65% x (Salary + Bonus) |
May’s federal income taxes |
10,080 |
865.2 |
865.2 |
865.2 |
865.2 |
865.2 |
865.2 |
20% of May's salary |
May’s state income taxes |
3,024 |
259.56 |
259.56 |
259.56 |
259.56 |
259.56 |
259.56 |
6% of May's salary |
May’s social security taxes |
3,856 |
330.9 |
330.9 |
330.9 |
330.9 |
330.9 |
330.9 |
7.65% of May's salary |
Property taxes |
4,100.00 |
- |
- |
- |
- |
- |
2,050.00 |
Annual amount for 2017 is same as that for 2016. But it's paid only twice once in June and next in December. Hence June's figure is 4100/2 = 2050 |
Property insurance |
1,200.00 |
- |
- |
- |
- |
- |
600.00 |
Annual amount for 2017 is same as that for 2016. But it's paid only twice once in June and next in December. Hence June's figure is 1200/2 = 600 |
Medical insurance |
2,400.00 |
240.00 |
240.00 |
240.00 |
300.00 |
240.00 |
300.00 |
60 per week x 5 weeks = 300 for April & June; For others it's 60 per week x 4 weeks = 240 |
Automobile insurance and registration |
700.00 |
- |
- |
175.00 |
- |
- |
175.00 |
Paid quarterly in the last month of each quarter. Quarterly payment = annual payment /4 = 700/4 = 175 |
Savings for auto purchase |
500.00 |
500.00 |
500.00 |
500.00 |
500.00 |
500.00 |
500 per month |
|
Total Fixed Expenses |
$60,863 |
4,877 |
5,093 |
5,268 |
5,153 |
5,093 |
7,978 |
Sum of all the above line items in the fixed expenses head |
Variable Expenses |
||||||||
Food |
1,620 |
135.00 |
135.00 |
135.00 |
135.00 |
135.00 |
135.00 |
Annual amount of 2016 / 12 in each month |
Entertainment |
3,000 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
Annual amount of 2016 / 12 in each month |
Dining out |
4,700 |
391.67 |
391.67 |
391.67 |
391.67 |
391.67 |
391.67 |
Annual amount of 2016 / 12 in each month |
Electric |
350 |
29.17 |
29.17 |
29.17 |
29.17 |
29.17 |
29.17 |
Annual amount of 2016 / 12 in each month |
Water and sewer |
800 |
66.67 |
66.67 |
66.67 |
66.67 |
66.67 |
66.67 |
Annual amount of 2016 / 12 in each month |
Heat |
1,250 |
104.17 |
104.17 |
104.17 |
104.17 |
104.17 |
104.17 |
Annual amount of 2016 / 12 in each month |
Cable TV |
3,000 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
Annual amount of 2016 / 12 in each month |
Telephone |
600 |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
Annual amount of 2016 / 12 in each month |
Cell phone |
900 |
75.00 |
75.00 |
75.00 |
75.00 |
75.00 |
75.00 |
Annual amount of 2016 / 12 in each month |
Gifts |
2,000 |
166.67 |
166.67 |
166.67 |
166.67 |
166.67 |
166.67 |
Annual amount of 2016 / 12 in each month |
Personal care |
600 |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
50.00 |
Annual amount of 2016 / 12 in each month |
Medical expenses |
3,700 |
308.33 |
308.33 |
308.33 |
308.33 |
308.33 |
308.33 |
Annual amount of 2016 / 12 in each month |
Vehicle gas and maintenance |
2,530 |
210.83 |
210.83 |
210.83 |
210.83 |
210.83 |
210.83 |
Annual amount of 2016 / 12 in each month |
Charitable contributions |
1,500 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
250.00 |
(Annual amount of 2016 x 2) / 12 in each month |
Vacation |
6,000.00 |
Vacation cost of $ 6000 in June |
||||||
Total Variable Expenses |
$26,550 |
2,338 |
2,338 |
2,338 |
2,338 |
2,338 |
8,338 |
Sum of all the above line items in the variable expenses head |
Total Expenses |
$87,413 |
7,215 |
7,431 |
7,606 |
7,491 |
7,431 |
16,316 |
Fixed expenses + variable expenses |
SURPLUS (DEFICIT) |
$24,137 |
$7,624 |
$1,808 |
$1,633 |
$1,748 |
$1,808 |
($7,078) |
Total income - total expenses |
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