How diversity, equity, and inclusion

Running head: BUDGET AND OPERATIONAL PERFORMANCVE
Financial Performance
Name of the Student:
Name of the University:
Author’s Note:

FINANCIAL PERFORMANCE1
Table of Contents
Section 1......................................................................................................................................2
Section 2......................................................................................................................................2
Section 3......................................................................................................................................3
References........................................................................................................................................5

FINANCIAL PERFORMANCE2
Fitworx Case Study Business Background
Section 1
FitWorx Centre is a key state of the art fitness, aquatic and recreational complex which
caters various programs and facilities to all age group people and all levels of fitness. The
business unit which has been specifically analysed is the Swim School unit. The Centre is having
around five pools both indoor and outdoor pools. The Centre is having a well sound set of
qualified and professional staff that caters the various activities and needs.
Section 2
The types of financial budgets that we are responsible for implementing and monitoring
is the performance report and the financial budget. The monitoring of financial data will be well
done by analysing the set of numbers that have been generated in the budgeted part and the
actual results that the centre has seen. Differences in the budget of Swim School Unit would be
taken into consideration and the key reason behind the same would be considered. Team budget
or finance budget is the basis for the success of business. It assists in controlling as well as
planning of the business finances. Financial Budget planned for the centre will help in
controlling finance of the business, assuring that business will be able to fund the commitments
in existence, enabling business in meeting the objectives and making confident as well as
informed financial decisions and assuring that business has adequate amount for its future
projects (Birt et al. 2019). Various team budgets required to be implemented and monitored are
the Operational plan, Long term plans, Cash flow forecast, Short term plans / budgets and KPI or
Targets for wastages, productivity, incomes, expenses and sales. Various areas those can be
adjusted for making improvements are the Meal allowance as it can be identified that budget for
the same was $2000 whereas actual expenses were $958. In the same way overtime expenses can
be adjusted as it can be identified that budget for the same was $15000 whereas actual expenses
were $12574. Fees received from swim school shall also be adjusted to improve the budget as it
can be identified that budget for the same was $380,000 whereas actual fees received were
$366,862. Further, the fees can be increased if the club wants to increase overall profit.
Section 3
Documentation obtained/research