Overview: Budgeting Template Suggestions & Instructions

Note: This budget is provided as a method to help your team develop long term financial sustainability. The budget provided in

How to Use the Document:

This document provides you with 4 working tabs and additional information. The four working tabs include: Master Budget (su

Master Budget
The master budget template provides a holistic view of all your expenses and income.
Use the master budget to plan your how to manage multiple project budgets while intergrating general organizational expens
Steps to Use:
1. Fill in project budgets on each project tab (social enterprise, community, strategic) first to help generate calculations in the
2. Once Project Tabs are completed for each team project, fill in general expenses/external funds in the master budget (this w
3. Ensure external funding/grants are appropriately labelled and are accurate. (when adding in funding, clearly state where it w
4. Summary section uses the available cash balance and consolidates all information in the master budget to show quick estim

Income Section
The displayed revenues are linked to the unique tabs for the each Enactus Project (these are tracked by the tabs below)
When modifying the income section, understand formulas may need to be reformatted or may need new formulas inputted to
The revenues reflect the total profit/loss from the unique project tabs, so changing the numbers on the master page will not

The non-operating income section also reflects the sum of all the same external funds from the unique project tabs, so changi
Be aware not to overlap external funds in the master template and the project templates
Ensure the naming of external funds are consistent and the formulas, if used, are accurate

Expenses Section
The expenses recorded in the master tab will not reflect anywhere else in the excel file as these are for team expenses
This section is meant for organization costs/expenses that are not specific to any project or other tab

Unique Project Tabs (Social Enterprise, Community, Strategic)

Each unique tab is catered to address potential budget formats for each type of project
Updating the income and expenses will automatically update the master budget with the NET INCOME. (This will not work wit
The master budget will not know specific changes of each project and will only provide a general overview
When recording expenses/revenue, ensure data is not repeated in master budget and/or other project tabs, unless applicable

Other Options: Quick Books

If you prefer not to use excel and would like to use an online program, consider Quick Books. With this platform, you can comp
If you use this program, ensure your team has a plan to download the content and save it in a shared team file for the ability t

If you are interested in QuickBooks you can register here: https://www.intuit.com/ca/partners/education-program/registrati

For more information about QuickBooks and how to register to check out our Quick Books Online Access overview: https://
ability. The budget provided in this template is ONLY AN EXAMPLE! For sumbission details on the Enactus Summer Challenge please refer

abs include: Master Budget (summary of all activities), Social Enterprise, Community Project, Strategy Project.

general organizational expenses/revenues

p generate calculations in the master budget revenue section. (Note: If you add additional tabs for your projects, make sure to duplicate th
s in the master budget (this will include your teams expenses and additional fund your team receives outside of project funding)
unding, clearly state where it will be coming from & ensure that you are not double counting)
er budget to show quick estimates

cked by the tabs below)

need new formulas inputted to make sure your totals are reflecting both in the project tab and master budget tab
s on the master page will not update the other budget templates

unique project tabs, so changing the numbers on the master page will not update the other budget templates

are for team expenses

NCOME. (This will not work with additional tabs unless you duplicate the existing tab & adjust and add formulas required)

project tabs, unless applicable

th this platform, you can compile all of your financial information online for free.
hared team file for the ability to view all progress in the future.

/education-program/registration/?cid=par_enactus_QBO_ca
ine Access overview: https://enactus.ca/wp-content/uploads/2019/10/QuickBooks-Online-Access-Overview.pdf
ummer Challenge please refer to the "ADDITIONAL INFORMATION TAB"

ects, make sure to duplicate the existing tab & add in required formulas)
e of project funding)

las required)
[School Name]

Overall Budget
INCOME Budget Actual
Revenue
Social Enterprise 700 500
Community 3050 4600
Strategic 3000 3900
Other
Total Revenue 6750 9000

Non-Operating Income
Sponsorship 2150 1750
Donation 1
Donation 2
Other
Total Non-Operating Income 2150 1750

Total INCOME 8900 10750

EXPENSES Budget Actual

Operating Expenses
Club Room Rental 1000 1000
Web Hosting and Domains
Office Supplies
Cleaning Fees
Other
Total Operating Expenses 1000 1000

Non-Recurring Expenses
Team Social #1 200 250
Team Social #2
Team Merchandise
Other
Total Non-Recurring Expenses 200 250

Total EXPENSES 1200 1250

NET INCOME 7700 9500

 2020-2021 Summary
Difference Budget Actual
Starting Balance 5000 5000
-200 Income 8900 10750
1550 Expenses 1200 1250
900 TOTAL 12700 14500
0
2250

-400
0
0
0
-400

Difference

0
0
0
0
0
0

50
0
0
0
50
Difference
0
1850
50
PROJECT 1
INCOME Budget
Revenue
Sales 1500
Other
Total Revenue 1500

Non-Operating Income
Sponsorship 400
Donation
Other
Total Non-Operating Income 400

Total INCOME 1100

EXPENSES Budget
Operating Expenses
Equipment Rental 400
Employee Wages
Research and Development
Transportation
Other
Total EXPENSES 400

NET INCOME 700

Actual Difference

1250 -250
0
1250 -250

250 -150
0
0
250 -150

1000 100

Actual Difference

500 100
0
0
0
0
500 100

500
PROJECT 2
INCOME Budget
Funds
Sales 0
Grants 2000
Project Accelerators 2500
Other 500
Total Revenue 5000

Non-Operating Income
Sponsorship 750
Donation
Other
Total Non-Operating Income 750

Total INCOME 4250

EXPENSES Budget
Operating Expenses
Equipment Rental 1200
Volunteer Honorariums
Research and Development
Transportation
Other
Total EXPENSES 1200

NET INCOME 3050

Actual Difference

0
3500 1500
2500 0
600 100
6600 1600

1000 250
0
0
1000 250

5600 1850

Actual Difference

1000 -200
0
0
0
0
1000 -200

4600
PROJECT 3
INCOME Budget
Revenue
Sales 5000
Other
Total Revenue 5000

Non-Operating Income
Sponsorship 1000
Donation
Other
Total Non-Operating Income 1000

Total INCOME 4000

EXPENSES Budget
Operating Expenses
Equipment Rental 1000
Room Rental
Catering
Event Decorations
Other
Total EXPENSES 1000

NET INCOME 3000

Actual Difference

5000 0
0
5000 0

500 -500
0
0
500 -500

4500 -500

Actual Difference

600 -400
0
0
0
0
600 -400

3900
DEVELOPING YOUR BUDGETING PLAN: OVERVIEW

To Submit your budget for the Enactus Summer Challenge please submit a clear budget for the
2020-2021 academic year. You can use the budget template provided or create your own.
Regardless, your budget should include both your team & project budget for the team. Below
are a few things to consider when creating your team budget for the 2020-2021 Academic Year: