Advanced Fiscal Management
The objective of the primary artifact for this class was to create a business plan for a parks, recreation, or tourism based organization. There were no limitations on budgets or requirements for location, so this was a very fun assignment to explore our dreams and imaginations. We decided to create the BSR Facility for our project to tackle the sports and recreation industry. Click on the “Primary Artifact” button below to view the project. For additional reference visit check out our project at the this link: BSR Facility. A summary of the course and a reflection on the artifact is below as well.
Author: Lee Brimmage, Megan Smith, and Chad Ray
Date: December 5, 2019
PRT 503 | Fall 2019
North Carolina 4-H Congress | Cultural Experience
Summary
The Advanced Fiscal Management course was a nice introduction into all of the intricacies of financial analysis of an organization. It was in this class where I was first exposed to the concept of a SWOT Analysis and viewing the principles of economics, marketing, risk management, and management through a lens primarily focused on finances. This course shed light on things I knew existed such as startup costs and operational costs, but helped me have a greater appreciation and attentiveness to the importance of them. PRT 503 was a course where as a student I had the proverbial “ah-ha moment” and realized how vital fiscal management is to the startup or sustainability of any organization’s success. Dr. Shaw did a great job helping us to understand these concepts and how to incorporate them into our assignments for real world application. I didn’t know what to expect going into this course because I have not had extensive experience with fiscal responsibilities at my workplace, but moving forward in my career I noticed that it had became more prevalent. It has been very beneficial to me currently at my job and I can better understand the corporate lingo in regards to finance now!
Northeast District Teen Retreat | Hands to Service Project
Reflection
The major project that we had to complete in the Advanced Fiscal Management course was our business plan for an organization of our choosing. The freedom to choose the type of organization without the constraints of a budget was exciting because we got to explore our dream concepts! I’ve always wanted to build an athletics complex in my rural community that was similar to college recreation centers, so this project really helped stimulate my imagination with my group members. This course helped us to not only have a birdseye view of a business plan of that stature, but to really delve deep into the smaller details that we may not be aware of or consider in our planning. Having to develop the startup funding plans, the operational budget, and all of the expenses of each required a very thorough approach. Never in my mind had I considered some of the expenses that are associated with these types of projects until I started to research similar facilities. After becoming co-director of our local Parks and Recreation, we are now pursuing development of a ballfields complex! I am extremely enthusiastic about this and this course helped jumpstart the brainstorming of this lifelong dream and opportunity!
