CGFO BUDGETING

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Author:
Gogators
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289620
Filename:
CGFO BUDGETING
Updated:
2014-11-19 12:25:02
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CGFO
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SOGF 2014
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  1. THE BUDGET PROCESS:
    • INCORP L/T PERSPECTIVE
    • EST LINK TO BROAD ORG GOALS
    • FOCUS DECISIONS ON RESULTS & OUTCOMES
    • ACHIEVE CONSENSUS ON GOALS, OBJECTIVE, OUTCOMES
  2. BUDGET REFORM TYPES:
  3. PERF BUDGET
    • EXECUTIVE BUDGET
    • PROGRAM BUDGET
    • 0 BASED BUDGET
    • BUDGET ALLOTMENT
    • PRIORITY BASED BUDGETING
  4. GFOA DEF OF PROGRAM BUDGET
    BUDGET WHEREIN EXP ARE BASED ON PROGRAM OF WORK AND ON CHARACTER & OBJECT CLASS
  5. PROGRAM BUDGETING
    • ORG BY MAJOR PROGRAMS
    • CROSS DEPT LINES
    • ENABLES COMP OF COSTS/BENEFITS OF MAJOR PROGRAMS
    • MAY ENCOURAGE MICROMGMT
  6. ZERO BASED BUDGETING
    • CONTINUED EXISTENCE HAS TO BE JUSTIFIED EACH YR
    • FORCES CONSCIOUS DECISIONS BETW DISPAARATE GOALS
    • ADDRESS APPROP OF EACH GOAL RATHER THAN MOST COST EFFECTIVE PROG TO ACHIEVE GOAL
  7. BUDGET ALLOTMENTS
    PORTION IS ALLOCATED TO INTERIM PD BASED ON PAST HISTORY
  8. ADVANTAGE OF BUDGET ALLOTMENTS
    • AVOIDS RUSH YR END SPENDING
    • AIDS IN CASH FLOW
    • PROVIDES FOR INV PLANNING NEEDS
  9. PRIORITY BASED BUDGETING
    RESOURCES S/B ALLOC ACCC TO HOW EFFF A PROG ACHIEVES GOALS/OBJ THAT ARE OF GREATEST VALUE TO COMM
  10. ANOTHER NAME FOR PRIORITY BASED BUDGETING
    BUDGETING FOR RESULTS/OUTCOMES
  11. PROCESS OF PRIORITY BASED BUDGETING
    • ID MOST IMPT STRATEGIC PRIORITIES
    • RANK PROG ACC TO HOW WELL THEY ALIGN W/ PRIORITIES USING COLLABRATIVE EVIDENCE-BASED PROCESS
    • FUNDING ALLOC ACC TO RANKING
  12. ASPECTS OF BUDG FUNCTION
    • FINANCIAL PLAN
    • POLITICAL - RESOLVE CONFLICTS
    • PLANNING/ANALYTICAL - COST BEN ANALYSIS, NPV, STRATEGIC PLANNING, COST EFF
  13. DEF OF BALANCED BUDGET
    MATCH RESOURCES & SPEND INCLUDING ACCUMULATED RESOURCES
  14. ASPECTS OF BUDGET
    • ADMINISTRATIVE
    • COMMUNICATIVE
    • STRATEGIC PLANNING
  15. ADMIN ASPECT OF BUDGET
    EFF COORD PREP OF BUDGET & ENSURE EXP ARE IN ACC W/ ADOPTED BUDG
  16. COMMUNICATIVE ASPECT OF BUDG FUNCT
    PROVIDE INFO THAT WILL ASSIST W/ CHOICES
  17. PHASES OF BUDGT PROCESS (6)
    • BUDG MANUAL
    • DEPT REQUESTS
    • PREP PROPOSED
    • LEGISL CONSID/APPROP
    • IMPLEMENT
    • AUDIT/EVAL (COMPLIANCE
  18. BUDGET MANUAL
    INITIATE BUDGET CYCLE - USUSALLY CM OR MAYOR
  19. BUDGET REQUESTS
    • DETAIL AMTS REQ
    • SUPPORTING DOC
    • TRANSMITTAL LETTER PROVIDING JUSTIFICATION - GIVES OVERVIEW OF BUDGET REQUEST
  20. 8/4 EACH YEAR
    • 35 DAYS INTO trim PROCESS - TENTATIVE MILLAGE RATE DUE
    • PROCESS BEGINS 7/1
  21. Disadvantages to MY budg
    • HARD TO PROJCT FUTURE
    • COULD REDUCE RESPONSIVE TO EMERGENCIES
    • INITIAL YR MAY INC WORK/STRESS IN DEPTS
  22. MY BUDG SAFEGUARDS
    • ALLOW/DISALLOW CARRYOVERS 1 YR TO NEXT
    • LEVEL ACCEPTANCE OF BUDG REQ
    • RESERVES CAN BE USED FOR UNANTIC EXP
  23. MY SAFEGUARDS
    • CREATES POLICIES
    • BALANCES BUDG
    • REV DIVERSIF
    • DEBT CAPACITY
    • FUND BAL
  24. OTHER MY SAFEGUARDS
    • EXAMINE KEY ECON/FISC INDIC
    • UPDATE BUDGET MANUAL/CALL TO REFLECT CHANGES
    • PERF ANALYSIS OS EXISTING REV STRUCTURE
  25. my BUDG VS my pLAN
    • BUDG HAS MORE DETAIL
    • BUDG HAS GOAL/OBJ
    • BUDG ARE PUBLIC DOCS
    • BUDG ARE APP BY GOV BODY
    • FINANCIAL PLANS ARE NOT PUBLIC DOCS OR APP BY GOV BODY
  26. MANDATE
    WHEN A HIGHER LEVEL OF GOV MAKES A LOWER LEVEL PERF SPECIFIC TASK OR MEET A STD
  27. ENCUMBRANCE
    OBLIG INCURRED/RECEIPT OF GOODS/SERVICES NOT OCCURRED
  28. NACLSB
    • 4 PRIN
    • 12 ELEMENTS
  29. 4 BUDGET PRIN
    • 1 - EST GOALS TO GUIDE DECISIONS
    • 2 - DEVELOP APPROACHES TO ACHIEVE GOALS
    • 3 - DEVELOP BUDGET ACC TO GOALS
    • 4 - EVAL PERF/MAKE ADJ (DO CONSTANTLY)
  30. EST BROAD GOALS (3 OF 12 ELEMENTS)
    • 1 - assess needs/priorities
    • 2 - ID OPPORT/CHALLENGES FOR GOVT SVCS, CAP ASSETS/ MGMT
    • 3 - DEVELOP/DISSEMINATE BROAD GOALS
  31. DEVELOP APPROACHES (4-7)
    • 4 - adopt fin policies
    • 5 - dev programmatic/op/cap policies/plans
    • 6 - DEV RPG/SVCS CONSISTEND W/ POLICIES/PLANS
    • 7 - DEV MGMT STRATEGIES
  32. DEVELOP BUDGET
    • 8 - DEV PROCESS FOR BUDGET PREP/ADOPT
    • 9 - DEV/EVAL FIN OPTIONS
    • 10 - MAKE CHOICES NECC TO ADOPT BUDGET
  33. EVALUATE PERF (11-12)
    • 11 - MONITOR/MEASURE/EVAL PERF
    • 12 - MAKE ADJ AS NEEDED
  34. REV POLICIES
    • HOW MUCH CHANGE IN PROP TAX RATE IS OK IN A YR
    • HOW WILL 1X REV BE USED
    • HOW FREQ SVC CHG/FEES REVIEWED
  35. GFOA RECC FB POLICY
    UNREST FB THAT SHOULD BE MAINT IN GF BASED ON GOVT'S OWN SPECIFIC CIRCUMSTANCES
  36. FB POLICY CONSIDERATION
    • A)PREDICTABILITY OF REV
    • B) VOLATILITY OF EXP
    • C) RISK TO SIGNIF 1X OUTLAYS (DISASTERS)
    • D) COMMITMENTS & ASSIGNMENTS
    • E) CONFORM W/ LEGAL/REGULATORY CONSTRAINTS
  37. STABILIZATION POLICY
    • GUIDE CREATION/MAINT/USE OF RESOURCES FOR STABILIZATION
    • ID PURPOSE FOR USE OF FUNDS
    • VVVVVV
  38. CONTINGENCY PLAN
    FINANCIAL ACTIONS IN EMERGENCIES
  39. DEBT MGMT POLICY
    • GUIDE ISSUANCE/MGMT OF DEBT
    • WHAT IS MAX L.T DEBT BURDEN
    • WHAT MIX OF LTD & CURR REV WILL BE BASIS FOR CAP IMPR
    • HOW WILL BOND PROCEEDS BE USED
    • WHAT WILL STD BE USED FOR
  40. MGMT STRATEGIES
    • MECHANISMS FOR BUDGET COMPLIANCE
    •   MGMT PROCESS/SYST IN PLACE TO ENSURE COMPLIANCE
    •   INSTITUTE PROC TO REVIEW BUDGET PERIODICALLY
  41. COST OF GOVT SVCS
    • FULL COST
    • DIRECT COST
    • INDIRECT COST
    • LIFE-CYCLE COSTS - INCLUDE COSTS IN ADD TO PURCH PRICE OVER LIFE OF ASSETS (INCL R&M, FAILURE COSTS, MONEY COSTS(INT & OPPORTUNITY) - USEFUL TO DECIDE ON PURCH OF MAJOR ASSET
    • OPPORTUNITY COST
    • SUNK COSTS - NOT RELEVANT IN ANALYSIS.  IGNORE WHEN EVAL FUTURE DECISIONS
    • MARGINAL COSTS
  42. MARGINAL COST
    • EXPAND SERVICE W/O INC IN COST
    • DIFF IN COST/DIFF IN UNITS = MARGINAL COST
  43. Perf Measures
    • INPUT - RESOURCES USED TO PRODUCE OUTPUT OR OUTCOME
    • OUTPUT - COMPL ACTIVITY/AMT OF WORK DONE
    • EFFECTIVENESS - DEGREE THAT GOALS/OBJ ARE MET W/IN DEADLINES
    • EFFICIENCY - MEASURES AMT OF OUTCOMES/UNIT OF RESOURCES ALLOCATED
  44. EFFECTIVENESS EXAMPLE
    % OF PART WHO GET JOB TRAINING THAT KEEP JOB
  45. PERF MEASURES SHOULD:
    • BE LINKED TO PROG GOALS/OBJ
    • GIVE PRIORITY WHERE GOALS ARE ACHIEVED
    • MEASURES S/B VALID, RELIABLE, VERIFIABLE (QUANTIFIED ASSESSMENT)
    • LINKS BUDGET BY EST PERF MEASURES AGREED UPON BY MGRS/DECISION MAKERS
  46. PERF MEASURES ANSWER:
    • WHAT DID WE DO?
    • HOW WELL?
    • HOW HARD DID WE TRY?
    • WHAT DID WE PRODUCE?
  47. GOOD OBJECTIVES S/B:
    • SMART - FOCUS ON RESULTS
    • SPECIFIC
    • MEASURABLE - REDUCTION %
    • ATTAINABLE - DECREASE PROCESSING TIME
    • RELEVANT
    • TIMELY
  48. PERF BENCHMARKS S/B:
    CONSISTENT & MEASURABLE
  49. FORECASTING REVENUE
    S/B DECENTRALIZED TO ACHIEVE CONSENSUS ON FORECAST
  50. QUALITATIVE METHODS TO FORECAST
    • CONSENSUS - GROUP REACHES AGREEMENT BASED ON PREV COLL PATTERNS/ EXPERIENCE/ KNOWLEDDGE OF HIST EVENTS
    • JUDGEMENTAL - INFORMED DECISION BASED ON HISTORY/GEN ECON CONDITIONS
    • EXPERT - USE ECONOMISTS, DEMOGRAPHERS, MKT RESEARCHERS, SOCIAL SCIENTISTS TO STUDY TRENDS
  51. METHOD TO USE WHEN REV HAVE HIGH DEGREE OF UNCERTAINTY?
    JUDGEMENTAL
  52. WEAKNESSES OF QUAL METHODS
    • RESPONDS TO POLITICAL PRESSURE
    • FOCUS ON CURR ISSUES/EVENTS
    • LACK OF COMPARABILITY OVER TIME - USES BEST GUESS
    • SUBJECTIVE VS OBJECTIVE
  53. QUANTITATIVE METHODS
    • - RELIES ON NUMERICAL DATA ENABLING TESTING TO SEE IF UNDERLYING DATA ASSUMPTIONS ARE MET
    • - REQ EXT AMTS OF HISTORICAL DATA TO GENERATE DEPENDABLE PROJ
    • WANT AT LEAST 40 DATA POINTS OF NUMERICAL DATA
  54. QUANTITATIVE METHODS
    • TREND ANALYSIS
    • LINEAR/MULTIPLE REGRESSION ANALYSIS
    • TIME SERIES ANALYSIS - FORECAST REV BASED ON FIN DATA OVER EXT PDS
    • ECONOMETRIC FORECASTING - PROJ FUTURE REV BY TAKING INTO ACCT ECON FACTOS THAT INFLUENCE THE REV SOURCE
    •   SALES TAX
    •   USER CHARGES (PERMITS)
    •   REAL EST REV
  55. BREAK EVEN ANALYSIS
    REV=COSTS
  56. 4 VARIABLES OF BREAK EVEN ANALYSIS -
    TELL YOU HOW TO CALC BE
    • REV/UNIT
    • FIXED COSTS
    • VAR COSTS
    • # OF UNITS
  57. NPV
    DISCOUNTING - PROCESS OF CONVERTING FV INTO TODAY'S $
  58. CRA
    • ADOPT RESO SUPPORTED BY DATA & ANALYSIS
    • MUST HAVE FINDING OF NECESSITY
  59. FS 205.035
    REQ MUNICIPALITY TO EST AN EQUITY STUDY COMM BEFORE ADOPTING NEW RATES - CAN DO RTE INC 5% every 2 YEARS
  60. FS 218.25
    CONSTRAINS USE STATE REV SH FOR DEBT SVC IN EXCESS OF GUARANTEED ENTITLEMENT AMOUNT
  61. CIP
    PROJECTS ARE PLACED IN OUT YEARS & MOVED UP EACH YEAR UNTIL THEY ARE INCLUDED IN CY BUDGET
  62. CIP PROJECT EVALUATION
    BE SURE TO INCLUDE IMPACT ON FUTURE OPERATING COSTS
  63. 4 BUDGET AWARD CATEGORIES
    • AS A FINANCIAL PLAN
    • AS A POLICY DOCUMENT
    • AS AN OPS GUIDE
    • AS A COMMUNICATION DEVICE
  64. RANKING CIP
    • CONSIDERATIONS:
    • RAISE TAXES?
    • # OF CITIZENS BENEFITED?
    • SAFETY ISSUES
  65. METHODS TO FINANCE CIP
    • CURR REV OR FB (PAY AS YOU GO)
    • DEBT (PAY AS YOU USE)
    • TIF BONDS - USE WITHIN CRD
    • GRANTS
    • IMPACT FEES
  66. # CRITERIA OF BUDGET AWARD
    27 IN TOTAL
  67. # OF BUDGET AWARD MANDATORY REQUIREMENTS
    14
  68. BUDGET AWARD MANDATORY POLICY DOC REQUIREMENTS
    • ENTITY-WIDE FIN POLICIES
    • ARTICULATES PROBLEMS/ISSUES THAT DROVE THE BUDGET
    • PROCESS FOR PREPARING/REVIEWING/ADOPTING BUDGET - CALENDAR/LEVEL OF CONTROL
  69. BUDGET AWARD FIN PLAN REQUIREMENTS
    • SUMMARY OF REV/EXP, SOURCES/USES TO PROVIDE OVERVIEW FOR ALL RESOURCES
    • SUMMARY OF REV/EXP/OTHER FIN SOURCES/USES FOR 3 YEARS - PY ACT, CY BUDG/PROP BUDGET
    • PROJ CHANGES IN FB
    • DECRIBE MAJ REV SOURCES/EXPLAIN ASSUMPTIONS FOR ESTS & DISCUSS TRENDS (AT LEAST 75%)
    • BUDGETED CAP EX
    • FIN DATA ON CURR DEBT OBLIG/DESC OF REL BETW CURR DEBT LEVELS & LEGAL DEBT LIMITS (NO STATE LEGAL LIMIT)

  70. BUDGET AWARD OPS GUIDE REQUIREMENTS
    • ORG CHART
    • SCHED OR TABLE SUMMARY OF PERSONNEL/POS COUNTS FOR PY ACT/CY BUDG/NEXT YR BUDG - NOTE CHANGES IN STAFFING
    • DESC ACTIVITIES/SVCS/FUNCTIONS
  71. BUDGET AWARD COMMUNIC DEVICE REQUIREMENTS
    • TOC
    • OVERVIEW OF SIGNIF BUDGETARY ISSUES
  72. CHARTS & GRAPHS FOR BUDGET AWARD
    RECCOMENDED BUT NOT NECESSARY

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