Topic > President of the Greater Euclid Little Theater

Janet Dobbs, Vice President of the Greater Euclid Little Theater (GELT), proposed a budget to GELT board members, within the proposed budget, Janet Dobbs addressed four points , the first problem was about unrealistic estimates of income and expenses, in the second point Dobbs should compare expenses and income over the last six years. Third, the debt crisis was addressed and how simply balancing the 2002 budget would not eliminate the crisis. Finally, the budget touched on spending to reduce debt and increase profits. The council rejected the budget for many reasons. The budget reduced expenses, most board members wanted to increase Spaulding's salary, which was not included in the budget, and some believe that GELT's revenue would increase if the theater sold all tickets for shows. Board members like Roberta Mackie, said that “by limiting revenue projections, the budget committee was “limiting our ability to dream” and that “high revenue estimates would give the organization an incentive to work to achieve them.” Board member Jacob Grimm argued that GELT is not there to “count beans” but to enrich the lives of others.” In my opinion, I believe Janet Dobbs' proposed budget was shut down because it lost sight of GELT's mission, which is to "provide professional quality theater at an affordable price to families in the Euclid metropolitan area." Although the budget did well to address the debt that the GELT had inherited, it left out the steps that should be taken to free up the debt, raise revenue while keeping the GELT's mission in mind. I believe Mrs. Dobbs' financial plan was realistic but lacking in information, lacking plan... half of the paper... should be clearly outlined. You need to discuss the goals and objective as well as the implementation process. If I had to side with this budget, I would say Janet Dobbs's. I believe he had clear financial plans about how much money should be allocated where on behalf of the organization. Its only flaw, I would say, is not keeping the mission in mind. He had only one goal in mind and that was to eliminate debt. Once the debt was eliminated, what other goals would the company try to achieve? I understand that the board members are not worried about debt at this time, but focusing only on touching the public through art, and not also funding the organization, will lead to the closure of the company. Work Cited Budget. (2015, June 11). Retrieved September 24, 2015, from http://www.investopedia.com/articles/07/budgetingforcompanies.asp