After much work on the Budget (and despite the help of a CFO) I have created a revenue forecast that can be referred to when needed. The following budget/proforma with be in the business plan that I'm happy to say is almost ready for first version release in the near future. This will give us a reference point when conducting operations as Good Faith Property Management and will be a template for our future plans as a publicly traded company. I will also like to explain some of the line items of the budget starting with of course the income.
Account Number Reason for funds
4015 Income: is the management fees received from managing properties
5010 Advertising: Related to posting properties or marketing the company (Jeanette Pangilinan)
5011 Accounting services: Any expenses related with financials and budgeting (Chizoba Morah)
5060 Legal and Professional: Forms, research, etc (James Bradley)
5070 Management Fees: equipment, lock boxes, etc (soon to be replaced with another title) ( Susan Levesque)
5077 Indi contractor: Good Faith personnel and advisors (payroll)
5100 Other Interest: Any expenses that were not included (Misc)
5202 Bank Fees: This will be removed soon (will be omitted)
5517 Software: Any department’s request for software
Some of you will be getting a prepaid Visa card for these expenses and some guidelines associated with the funds.
THE MAIN GOAL IS TO CREATE MORE COMMUNICATION AND SYNERGY FROM THE GOOD FAITH GROUP. USING THESE FUNDS FOR PAYMENT TO OTHER TEAM MEMBERS IS INCURRAGED AND RECOMMENDED.
Hope everyone has a great weekend.
