Budget

Fiscal Manager: Engleap Leang

Last update: June 06, 2019

The sponsor set initial estimates for minimum Budget, however he is going over that budget as he deems necessary.

Amount Spent: $9,679.59

Figure 3. Budget Overview 6/6/19

Figure 3 shows the budget usage at the project completion stage.

Table 1 and Table 2, below, shows the expenses for the above amount spent.

Table 1. Summarizing Expense of Sponsor for this Project

Table 2. Summarizing Expense of Student for this Project

Figure 2. Budget Snapshot 5/21/19

Figure 2 shows that that the total balance is negative because of sponsor overspending his initial given budget. The trend is that the budget will keep going over because the project is pushed for time.

Figure 1. Comparison of Initial Estimate and Actual Expense 5/21/19

The figure above shows that the initial estimate is much lower than the necessary expense. This is actually expected because initially, there were unknown fees that could not be accounted for like the structures lab fee that required a quote from the structures lab. Also, the structures lab needed to be contacted first to see what tests could be done in the lab itself and to get dimensions for the full scale model. These were not included in the initial estimation, which made the actual expense much higher.  In addition, the damping option was changed due to the artist's interest in using fabric, which dramatically increased the expense. 

Moving forward, the expense will be carefully monitored and recorded and shared with the sponsor.