The Dollars And Sense Of Sheltering: A Tool For Financially Evaluating Your Shelter’s Programs
Sheltering isn't just about good intentions. It's about planning and developing programs that have a good chance of keeping animals healthy and happy, as well as maximizing adoptions and lifesaving. To make that happen, shelter directors and managers need to have a solid understanding of the practical and financial aspects of their programs. They also need to be able to analyze their results to determine if a program is achieving its goals, and what its real costs are.
Dr. Nicole Olynk Widmar has developed a shelter financial management tool that can be used to analyze financial outcomes for Read moreshelter programs under different management strategies.
- 1.
Which term is best described by the following: Shows the projected costs and returns associated with some change in the shelter.
- A.
Cost of production
- B.
Variable costs
- C.
Partial budget
- D.
Whole farm budget
Correct Answer
C. Partial budget -
- 2.
Which of the following is an example of a variable expense (or cost)?
- A.
Depreciation
- B.
Property taxes
- C.
Hired labor
- D.
Insurance
Correct Answer
C. Hired labor -
- 3.
Which term is best described by the following: Costs which the shelter incurs that do not vary with the number of animals housed/saved (generally referred to as the "level of production" in other firms).
- A.
Variable costs
- B.
Cost of production
- C.
Enterprise budget
- D.
Fixed costs
Correct Answer
D. Fixed costs -
- 4.
A cash flow statement shows all the following except:
- A.
When you need to borrow money.
- B.
How much money you need to borrow.
- C.
When you can increase spending without additional borrowing.
- D.
When you can repay loans.
- E.
All of the above are shown by using cash flow.
Correct Answer
E. All of the above are shown by using cash flow. -
- 5.
What are the two “types” or general classifications of management that shelter managers need to be participating in? (Select two answers.)
- A.
Strategic management
- B.
Cash management
- C.
Tactical management
- D.
Employee management
Correct Answer(s)
A. Strategic management
C. Tactical management -
- 6.
What are the three financial statements that all shelter managers should be aware of? (Select three answers.)
- A.
Balance sheet
- B.
Income statement
- C.
Partial budget
- D.
Cash flow statement
Correct Answer(s)
A. Balance sheet
B. Income statement
D. Cash flow statement -
- 7.
It is possible to improve the net income of the shelter by:
- A.
Increasing revenues and decreasing costs.
- B.
Decreasing costs by $A and decreasing revenues $B, where $A>$B.
- C.
Decreasing revenues by $C and decreasing costs by $D, where $C
- D.
Increasing revenues by $X and increasing costs by $Y, where $X>$Y.
- E.
All of the above.
Correct Answer
E. All of the above. -
- 8.
It is always better for the financial performance of the shelter to increase total adoption numbers of dogs and puppies.
- A.
True
- B.
False
Correct Answer
B. False -
- 9.
Commonly overlooked ways to decrease shelter costs include:
- A.
Bulk purchasing of animal-related supplies (i.e., food, vaccines).
- B.
Reducing carrying costs through careful inventory management and planning.
- C.
Borrowing money to purchase supplies ahead.
- D.
Utilizing incentive-based programs (i.e., cash back credit cards).
- E.
A, B and D.
Correct Answer
E. A, B and D. -
- 10.
We hope you have enjoyed the presentation. If you receive a passing score, a Certificate of Attendance in your name will be awarded at the end of this quiz. Please let us know if you have viewed the entire presentation.
- A.
I certify that I have viewed the entire presentation.
- B.
I did not view the entire presentation.
Correct Answer
A. I certify that I have viewed the entire presentation. -
- 11.
According to the shutdown rule, a shelter will shut down when revenue received from goods and services provided cannot cover the variable costs of operating.
- A.
True
- B.
False
Correct Answer
A. True -
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Current Version
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Jun 23, 2020Quiz Edited by
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Aug 12, 2013Quiz Created by
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