Business Plan And Budget Template Page 36

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Appendix 1 (Continued) - Analysis of Consolidated Budget
Changes from 2014 to 2015
2015 total budgeted expenses
$
29,026,506
2014 total budgeted expenses
28,299,300
Increase
727,206
Expense change components:
Increased premises operating costs due to a higher lease rate for the Calgary office
premises effective January 1, 2015
299,100
Increased amortization expense due to recent capital additions for Calgary office
renovations and business systems and technology
163,500
Increase in general corporate costs due to the introduction of merchant banking fees
in 2015 with the planned introduction of online payment facilities
180,000
Increase in communications costs related to a planned survey of the legal profession,
internal and external website updates and a planned rebranding of the Law Society
175,000
Decrease in estimated claims expense in the legacy Assurance Fund anticipated as
this fund is wound down during 2015 and onwards
( 500,000 )
Decrease in the premium for the Assurance Fund indemnity bond as bond coverage
is switched to the new indemnity program (ALIA/ALIEX)
( 194,000 )
Overall wage increases due primarily to an assumed 3.5% increase to keep pace with
the overall Alberta labour market
515,000
Other miscellaneous increases
88,606
$
727,206
Proposed 2015 Business Plan & Budget
Page 36 of 50

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