SITXFIN003 Manage Finances within and Planning

Task:

You are the café manager of a popular café within the Blue Healer Hotel and Spa. The owner has provided you with the budget for the next quarter and it is part of your responsibility to allocate resources and manage the finances within the budget.  
The budget has been increased in month three as this is a popular month where lots of visitors stay at the Blue Healer and neighbouring guest houses as there is a music festival on. As such, additional wait staff will be hired on a casual basis and less private catering jobs will be booked in as the café will be at its peak. 
Additional information: 
The business uses local suppliers but due to a recent drought the cost of meat with the usual supplier, Fresh Farms, went up by 7% last month. 
The café serves breakfast, light meals, light dinners and sharing plates, smoothies, coffee, pastries and is a local favourite for its homemade iced tea. 
Due to the clientele of the hotel and health spa, and the area within which the Blue Healer is located, there have been a number of requests for more vegetarian and vegan options.  
Apart from you and the owner (you also cook and prepare food) there is full-time chef named Navneet, two part-time kitchen porters and casual wait staff employed. 
There has been a pattern of food wastage in the past two months with too much fruit purchased that spoiled before it could be used as the iced tea became so popular that not as many smoothies were made and sold. 
The food budget has blown out over the past three months but the owner can’t increase it as the profit from the café is being invested into building and landscaping works to create an outside undercover area that will double the capacity of the café.  
The business uses Wave Accounting free online software for recording income and expenditure but makes use of Excel spreadsheets for budgeting and planning purposes.  
2.Review past information and future budget and plan fund allocation Review the following: 
Case study and additional information above  
Café Quarterly Budget – budget page 
Café Quarterly Budget – past information page 
Look at the cost of sales figures related to food and beverage purchases which is the food and beverage budget that is allocated to you.  
Do some research and source some local meat suppliers in your area and check out the costs of menu items you have planned for previously in the past, or meals you are familiar with and see what that 7% could look like and the impact over a three month period. Bring this information with you to the meeting in the next activity step to provide recommendations to the owner.  
Think about how you can work effectively with the budget allocated to you and the changes you could make to manage the finances more effectively.  
Make notes on your research and findings for use in the following activity. 
3.Have a meeting with the owner to discuss the budget and fund allocation 
Now that you have reviewed all the information, have a meeting with the manager (your assessor) at the date and time advised to discuss any concerns, priorities and changes you would like to make before you allocate the funds. Review the new suppliers you have sourced with your assessor.  
During the meeting, you will need to demonstrate effective communication skills including: 
Speaking clearly and concisely  
Using non-verbal communication to assist with understanding  
Asking questions to identify required information  
Responding to questions as required. 
4.Allocate funds 
Using the Café Quarterly Budget template – Fund allocation page, allocate the funds for the quarter to the relevant areas and what you will purchase from existing or new suppliers. Make notes in the relevant column to support your choice and rationale. Add or delete rows as necessary and apply cell formatting and the use of formula functions as necessary.  
Submit to your assessor.  
5.Meet with your team 
Briefly meet with Navneet (your assessor) to discuss the resource allocations and the planning for the next quarter in relation to fresh produce, reduction of wastage and recipe variation. 
Make sure that you discuss the importance of sticking to the budgeted allocations and discuss ways that food wastage can be avoided to ensure the budget is met.  
During the meeting, you will need to demonstrate effective communication skills including: 
Speaking clearly and concisely  
Using non-verbal communication to assist with understanding  
Asking questions to identify required information  
Responding to questions as required. 
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QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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