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Cost Benefit Analysis - After School Programs

Cost Benefit Analysis - After School Programs

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Published by KB's VOICE
Cost Benefit Analysis (CBA) is one of the many finance tools that public administrators may use to determine funding and effectiveness for programs.
Cost Benefit Analysis (CBA) is one of the many finance tools that public administrators may use to determine funding and effectiveness for programs.

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Categories:Types, School Work
Published by: KB's VOICE on Aug 11, 2013
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06/05/2014

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Cost-Benefit Analysis Page 1Public Finance Proposal Part I: Cost-Benefit AnalysisKB WashingtonPublic Finance August 5, 2013
 
Cost-Benefit Analysis Page 2Cost benefit analysisThe foundation of cost-benefit analysis is to determine the cost effectiveness of social programing by comparing economic and social costs. The analytical comparisonshould lead to the short and potentially long-term benefits of a program. This processshould help policymakers determine whether a prospective program is worth funding.
“Cost
-benefit analysis is an analytical technique that compares theeconomic and social costs and benefits of proposed programs or policy actions. All losses and gains experienced by society areincluded and measured in dollar terms. The net benefits created byan action are calculated by subtracting the losses incurred by somesectors of society from the gains that accrue to others. Alternativeactions are compared to determine which ones yield the greatestnet benefits, or ratio of benefits
to costs” (Investopedia, 2013,
paraphrased). After school matters
“  
 After School Matters
® 
 
is a non-profit organization, started by Maggie Daley, thewife of Mayor Daley in 1991, that offers Chicago high school teens innovative out-of-school activities through
Science
,
Sports
,
Tech
,
Words
and the nationally recognized
Gallery 
programs
” (After school matters, 2011)
. The program has become a nationallyrecognized model for after school programming for high school students. The programalso understands the importance of collaboration and has numerous partners such asChicago Public Schools, Chicago Park District, Chicago Public Library, and manycommunity organizations throughout the city of Chicago (After school matters, 2011).
 
Cost-Benefit Analysis Page 3
The program’s revenue
and expenses for 2012 were:
(After school matters Annual Report, 2011)
Expenditures and budgeting proceduresExpenditure or budget controls are set in place to ensure the agency uses fundsas appropriated. After-school programming focuses on cost-benefits that can help buildpolitical support for their cause. In addition, the program must focus on accuratemeasurement and additional costs that are related to the program including budgetingresources. According to Lynn Karoly (2004), Senior Economist at RAND Corporation, a
nonprofit policy research institution, “
Measuring benefits is challenging because of thewide range of outcomes that might be considered
” (
p. 3).
UnrestrictedSupport and revenue 2012
Government grants and support - 13,083,636In-kind contributions 4,982,408
Special events
: Annual Gala 2,781,776City-wide event 73,341Contributions and foundation grants 833,513Interest income 30Gallery37 retail sales 101,292Other income 170,694Net assets released from restrictions 1,746,52423,773,214
Expenses
Program services 18,478,329General and administrative 2,797,368Special events 918,59422,194,291Increase in unrestricted net assets 1,578,923
Temporarily restricted
Contributions and foundation grants 522,314Net assets released from restrictions (1,746,524)Decrease in temporarily restricted net assets (1,224,210)Increase in net assets 354,713
Net assets
:Beginning of year 5,421,213End of year 5,775,926

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