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Joshua Stokes
ROAM Analysis Who is the audience and which CPP- communicator type are they?
-
The audience is the CFO of Applied Research Associates. He is action oriented as he is in finance and an executive leader. How will you change the reader, and which CPP-communicator type are you?
-
I am action/people oriented. I will change the readers perspective by providing not only problems but solutions to the problems. What do you want the reader to do?
-
Take action for the next FY to keep the company from missing budget marks. What will the reader think of you?
-
That I have done the leg work and I am presenting him with a set of solutions. He will respect that
the Memorandum is not overly detailed, but very informative. Background:
The purpose of the memo is to convince our executive leadership to
take action against our recent budget
overage of 12%. If we do this, we can implement action to create future savings. Our budget was expanded by 5% for the next FY but we still have 7% to make up for the next FY. My changes will make up 6.2% plus the additional savings monthly. This is a best case scenario plan of action to reduce spending the following year.
Joshua Stokes
Memorandum
TO: Chief Financial Officer (CFO) – Applied Research Associates, Inc. FROM: Accounting DATE: September 11, 2022
SUBJECT: Support Needed:
Reduce Spending on Non-Essential Items This past Fiscal Year (FY) close out has shown that we are spending 12% more this year over our
budget of
$ 126,987,347.98 budget
. After much investigation into the matter, the accounting department was able to uncover $ 19,937,013.63, or 15.7% of non-essential expenses. If we don’t prioritize our spending
spending,
then we will continue to over-extend ourselves into a place that will cause us to lose money. Below I identify the 3 areas where we could reduce cost
price cuts would be recommended to reduce our budget overages
to help meet our budget: Below I identify the areas where price cuts are
would be recommended to reduce our budget overages: 1.
Office Supplies
2.
Business Relations 3.
Overhead (power, water, phones, etc.)
Removing non-essential
spending in these categories will greatly benefit the budget and the profit margin of the company.
The budget will benefit greatly from the removal of this non-
essential spending, and in turn will benefit the profit margin of the company. 1. Office Supplies Office supplies made up 6.3% of all spending within the budget this FY. This is $ 8,000,202.92 that was spent on office supplies such as staples, pens, ink, paper, notepads, etc. By cutting the spending into more economical categories like ball point vs. gel pens, black and white vs. color ink, and even smaller notepads, I estimate we can save the company an additional 4%, lowering
our spending of office supplies to just 2.3%. This would save the company $ 5,079,493.92. See
Figure 1 that outlines the budget changes for the for office supplies.
Figure 1
Budget $ 126,987,347.98
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