Online Learning for Sports Management
Variance Report
The purpose of a "Variance Report" as shown below is to identify differences between the planned financial outcomes (the Budget) and the actual financial outcomes (The Actual). The difference between Budget and Actual is called the 'Variance". The Variance is depicted below in dollar ($) and percent (%) terms. Calculating the variance in percent (%) is useful as it gives the relative size of the variance. When calculating the Variance in percent (%) - divide the Variance in dollars ($) by the Budget (and not by the Actual).
Budget 1 Jan to 30 Apr |
Actual 1 Jan to 30 Apr |
Variance $ |
Variance % |
|
| Income | ||||
| Govt Grant | $ 15,000.00 | $ 20,000.00 | $
5,000.00 |
33% |
| Sponsorship | $ 3,500.00 | $ 3,750.00 | $
250.00 |
7% |
| Membership Fees | $ 2,800.00 | $ 2,650.00 | -$
150.00 |
-5% |
| Events Income | $ 4,200.00 | $ 7,735.00 | $
3,535.00 |
84% |
| Profits from Trading | $ 14,800.00 | $ 12,900.00 | -$
1,900.00 |
-13% |
| Other Income | $ 280.00 | $ 570.00 | $
290.00 |
104% |
| Total | $ 40,580.00 | $ 47,605.00 | $
7,025.00 |
17% |
| Expenditure | ||||
| Advertising & Promotion | $ 1,500.00 | $ 200.00 | $ 1,300.00 |
87% |
| Athlete Development | $ 1,650.00 | $ 4,700.00 | -$
3,050.00 |
-185% |
| Bank Charges | $ 160.00 | $ 400.00 | -$
240.00 |
-150% |
| Competition Costs | $ 1,000.00 | $ 2,100.00 | -$
1,100.00 |
-110% |
| Management Committee | $ 160.00 | $ 230.00 | -$
70.00 |
-44% |
| Photocopying & Printing | $ 430.00 | $ 570.00 | -$
140.00 |
-33% |
| Postage | $ 650.00 | $ 1,150.00 | -$
500.00 |
-77% |
| Rent | $ 1,300.00 | $ 1,000.00 | $
300.00 |
23% |
| Repairs & Renewals | $ 300.00 | $ 225.00 | $
75.00 |
25% |
| Salaries | $ 18,300.00 | $ 18,300.00 | $
- |
0% |
| Stationery & Computer | $ 500.00 | $ 630.00 | -$
130.00 |
-26% |
| Team Funding to Nationals | $ 1,650.00 | $ - | $
1,650.00 |
100% |
| Telephone | $ 1,000.00 | $ 1,665.00 | -$
665.00 |
-67% |
| Total | $ 28,600.00 | $ 31,170.00 | -$
2,570.00 |
-9% |
| Surplus/Deficit | $ 11,980.00 | $ 16,435.00 | $
4,455.00 |
37% |