Identify two challenges you will have in managing the budget

Assignment Help Financial Management
Reference no: EM131372748

Scenario for Assignments

For Assignments, you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budget, programs, and capital projects. As the administrator, you will be responsible for analyzing, examining, proposing, and preparing the agency's budget for the next five years.

Note: Students cannot use New York City as a selected local government

Assignment: The Operating Budget

Write a four to five page paper, titled Part I: The Operating Budget for the (Selected Agency) in which you separate the content into sections:

1. Provide background information about the agency, mission, goals, objectives, departments, and strategic plan. (Title this section Introduction.)

2. Describe the budget of the agency by addressing the following items: (Title this section Budget Overview.)

a. Financial Summary, including Revenue and Expenditures
b. Department Budgets
c. Funding
d. Capital Projects
e. Debt Administration

3. Perform a Cost Analysis. (Title this section Cost Analysis.) The costs should include the following:

a. Fixed Costs
b. Step-fixed Costs
c. Variable Costs

4. Identify and explain one to two challenges you will have in managing the budget. (Title this section Budget Challenges.)

5. Recommend two to three strategies the agency should review regarding new initiatives and budget cuts over the next five years. (Title this section Budget Recommendations.)

6. Include the agency's most recent budget or financial plan.

7. Provide the agency's Website name, URL, and any other sources used to support the assignment's criteria.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA. Check with your professor for any additional instructions.

• Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Analyze the basic skills and tools needed for budgeting for public sector agencies and / or departments.

• Recommend appropriate policy actions based on the evaluation.

• Evaluate a budgeting system at any governmental level.

• Analyze the scope and sequence of budgeting in terms of sources of revenues, purpose of government expenditures, budget cycles, budget preparation, and debt administration.

• Examine the process and components of preparing a viable operating budget.

• Prepare a preliminary budgeting system for presentation before Congress, state / local government, or other organization.

• Use technology and information resources to research issues in public budgeting and finance.

• Write clearly and concisely about public budgeting and finance using proper writing mechanics.

Reference no: EM131372748

Previous Q& A

  Post a description of the policy you selected

Post a description of the policy you selected. In your description state whether the policy is for the prevention of serial offenses, management of serial offenders, or both. Then explain how this policy might or might not be effective and why?

  Displays several of emma indifference curves

The following figure displays several of Emma's indifference curves. Although there are 168hours in every week, Emma sleeps exactly 68 hours weekly, so she has 100 hours to divide between work and play. Emma receives $50 per week in interest on he..

  Global price of crude oil were to rise

Suppose that the global price of crude oil were to rise. Below draw a supply-and-demand diagram that shows what would happen to the demand and/or supply curves in the wholesale gasoline market in which refiners sell to gasoline stations.

  Open the calculator-engine-print project

When walking through the equals method, did you feel the same reassurances that we felt in apply Previous Operator about the default value of previous Operator?

  Analyze major components of agencys hr systems goals

Analyze at least three of the major components of the agency's human resource system's goals and practices regarding the recruitment and hiring of a qualified workforce.

  Tuition for the entire program

He figures that, net of some financial aid, tuition for the entire program at Montreat would be $20,000, and tuition for the entire program at USC would be $10,000.

  Use of opium influence or affect their careers

Compare and contrast how and why De-Quincey and Sam Taylor Coleridge began to use opium. Did the use of opium influence or affect their careers? Explain whether each one relied on opium for a successful career and whether or not they tried to term..

  Economic consequences of opium

How would you compare some of the socio economic consequences of opium that led to social and legislative movements in 19th Century England to similar issues in USA up till today that gave rise to the War on Drugs? Do these issues still justify th..

  When does a journey matter more than the destination

When does a journey matter more than the destination? Use evidence from the odyssey by home, observation in life and other readings.

  Read the comments and rewrite the paper

Read the comments and rewrite the paper.- The Paper topis is: "Let's your child's light shine".- The paper should be in correct order of their heading and subheading.

Reviews

Write a Review

 

Similar Q& A

  Makes the NPV of the project turns positive

Better Mousetraps has developed a new trap. The company has already conducted a feasibility study at a cost of $100,000 to ensure that the new trap would work, and it has indicated no problem. It can go into production for an initial investment in eq..

  Using an after tax ROR analysis

Your real-estate company is considering buying a $5 million dollar hotel. The company already pays taxes at the highest scale. The hotel is expected to earn $20 million dollars (in today’s dollars) every year and have expenses of $17 million dollars ..

  How much money do you have to save in that fund

How much money do you have to save in that fund every month in order to make your retirement dream come true?

  What is the amount of the interest for third year of loan

You are borrowing $6,000 today. The loan is an amortized 6-year loan with an APR of 8 percent. The loan requires that $1,000 of the principal amount be repaid each year. Payments are to be made annually. What is the amount of the interest for the thi..

  Appreciation or depreciation rate for each currency

If we are comparing the U.S. dollar to the euro, and the euro increased in value from $1.35 to $1.45, what happened to the two currencies? Show the appreciation or depreciation rate for each currency. If we are comparing the U.S. dollar to the yen, a..

  Waterways continuing problem

Waterways prepared the balance sheet and income statement for the irrigation installation division for 2016. Now the company also needs to prepare a cash flow statement for the same division. The comparative balance sheets for Waterways Corporation’s..

  What is the present worth of this cash flow

Consider the following cash flow of company profits. A company earns $3600 in years 1, 2, & 3, from years 4 through 7 the profits increase by $500 annually. What is the present worth of this cash flow, if the interest rate is 9% and total years analy..

  Due to the increased globalization of financial markets

Due to the increased globalization of financial markets, we can expect all of the following, except:

  Your goal is to create portfolio

You have $118,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 18.4 percent. Stock X has an expected return of 16.8 percent and a beta of 1.25, and Stock Y has an expected ..

  Yield the same amount of interest as investment described

Leo wishes to invest $8000.00 that he saved from his summer job. His bank offers 3.75% for a one-year term investment or 3.5% for a six-month term. Help Leo to investigate his options. How much will Leo receive after one-year if he invests for six-mo..

  Find the standard deviation of the projects expected NPV

An investment costs $7,000, after tax considerations, and will generate cash flows of $1,500 a year over its life. The capital investment will last for 7, 8, or 9 years, with probabilities of 0.3, 0.4, and 0.3 respectively. Assume the required rate o..

  The best estimate of the stocks current market value

Nachman Industries just paid a dividend of D0 = $1.32.- What is the best estimate of the stock's current market value?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd