City of Kelsey Budgeting Essay

For example interest rates, the cost of raw materials including fuel, the number of sales or orders that we make and in turn all of these rely on other factors. The best therefore that can be done when developing a budget is to look at all the factors that are likely to affect the budget and decide how to take account of each one. If there is a previous budget (last year or last month) then it is sensible to look at how this has been achieved or not as the case may be, and what factors affected the outcome. If we are looking at monthly budgets it might be a better comparison to look at the same month twelve months ago as well as the previous months. The more factors we take into consideration when estimating a budget, the more accurate our budget will be.

This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).

Capital planning and budgeting is a very vital piece in the Public Budgeting System process. It is an essential implement in the financial management practice and is effective in both public and private organizations. It is the method which consists of the determination and the evaluation of the investments and the possible expenses by an organization. As explicate by Lee, Johnson, & Joyce (2008), capital budgets help in determining how much of each form of investment is needed, and it supports an organization in assessing the available revenue which includes loans is required to finance those investments (p. 475). Capital budgeting is a central part of the universal

In order for me to get control of the county budget I would change the way I think. I would initially start to swallow my pride and have a mind set of doing things to become better and learn how to do things right. Although I feel that the way things are done is the right way and we are able to still function as a county, I would try to adapt some the leadership aspects of Phoenix. Which means I will have to spend less money to not end up bankrupt again and again and again. Since no one has never succeed in convincing me to be a a part of a team, I am willing to try to work as a team to better control our budget. In return this will help us gain tourist attraction and be more efficient ant financial management.

Many police departments are facing budget problems, forcing them to cut their police force down. Many officers are being asked to do things they normally don't do such as patrolling. Police departments are also facing increasing crimes due to the poor economy. More people are engaging in criminal activities. Local and small agencies interact with the communities that they patrol on a daily basis. Sharing information between agencies are important not only for Home Land Security but for the public’s

Police departments across the United States are spending a lot more money today on policing than they did 15 years ago, as demands have changed on what is required to effectively run an organization. Governments have put in place various budgeting systems that generally revolve around the adoption of a fiscal calendar which begins on the date new annual budget laws become effective. When the time comes to prepare for yearly budgets, most agencies run into issues due to lack of funding as they are asked “to do more with less” (Hess, Orthmann, Ladue, 2016, pg.483). The budgeting process from start to finish is not an easy task as many consider it to be one of the most challenging and stressful times during the year. Even though the process

Over the last several years, most police departments have been facing numerous financial challenges. The main reason is law enforcement agencies are expected to do more with less and the stagnant economy. The combination of these factors has been placing pressure on many departments to begin imposing budget cuts. Evidence of this can be seen with a survey that was conducted by the University of North Carolina. They found that 67% of police departments made some kind of budget cuts for 2011. The most severe reductions were occurring in large police departments such as Los Angeles, Atlanta and Detroit. (Delfem, 2011, pp. 199 - 205) This is illustrating one of the most pressing issues affecting a wide variety of police departments across the country. To fully understand what is happening requires: examining the situation, how they are able to interact with other agencies (i.e. state / federal) and recommending the way this relationship can be improved. Together, these elements will offer specific insights about how police departments can effectively address this problem.

Budgetary responsibilities play a vital role in the future of the Brownwood (Texas) Police Department. The budgeting process for the City of Brownwood is a continual process. Considerable time should be invested in order to create a sustainable budget. There must be adequate research, data analysis, and input among all the “players”, before the budget can be successfully approved.

a-Operating Budget. “According to Chris B.(n.d.), this is a combination of known expenses, expected future costs, and forecasted income over the course of a year”. This budget type is often based on historical performance drawn from an income statement and cash flow statements, reason why it focused on the collection of income and projected cost of items. In addition to financial history micro factors, macro factors are also important in determining budget

Due to potential changes within a school district or a particular school, the construction of a school district budget can be tough to prepare. In Spartanburg school district 5, of the proposed school district budget is pieced together by the needs that have been mentioned from administration on the elementary, middle school, and high school levels. The foundation of the budget is initially rolled over from the previous year, but additions are made on to the budget where the superintendent and other administrators feel additions may be necessary. In some years, preparing a budget is simple if there are no major changes or additions being made in relation to administration, teachers, or additional support staff. In the proposed budget, areas such as budget changes, general fund budget summary, projections, debt fund, and

As time passes, the Speaker of House agrees on a continuing resolution with a 3% budget cut, but now they need the other party, the President to give in and agree. The Chief of the White House staff goes over to speak to the President, but the President won’t back down and take the continuing resolution with a 3% budget cut to keep the country running. Therefore, the Chief of Staff stays with the President a little while longer to try and encourage the President to think clearly for the benefit of the country. The chief of staff says, “Sir, you’re putting all our chips down on a single hand we can’t win.” This gets the President even more enraged, slamming his hand on the table and then replies saying, “We had a deal, Leo.”

In reviewing my budget worksheet, I discovered that approximately $200 of my budget every month is for eating food from somewhere other than my kitchen when I am also paying approximately $240 every month for groceries. I’d like to use the information that I have learned so far about budgeting to cut that amount in half. The reason that number is so high is convenience; I tend to eat out more often when I have a busy schedule because it is easier and faster to go through the drive thru at McDonald’s than it is to make dinner. Unfortunately, I can’t make my schedule any lighter, so I need change how easy and quick it is for me to make my own dinners in order to change this part of my budget. I think the best way to do this would be to use my

It is based on predicted expenses they may be fixed things like rent, leases or variable things such as payroll, utilities and phone bills. Budget list your income and expenses, subtracting one from the other to give you realistic numbers to guide you’re planning. For example, if your budget shows that your total expenses are greater than your total income, you must adjust your spending entries in your budget to try and gain the profit income, you can match it against your payables to make sure that you have enough money in the bank to meet your obligations. You can try to create a budget that only spends what you make by using your current cash position and current sales and expenses to guide you. If this is wrong this it creates a cash flow shortage. Budgeting relies more on recent history, current contracts and income levels to set conservative income limits, as budgeting for income optimistically might not be realistic and set your small project up for failure. A cash flow budget does not show the monthly average amount of your expenses, but the exact expense amounts each month when they come due. This allows you to budget lower payments for discretionary spending in the months when you have high payables. When creating a budget, you set specific spending limits in certain areas based on how much income you have. For example, you might forecast that your payroll will be $100,000 per month, while a budget actually

The budget is an important basis for evaluating performance. It can provide benchmarks against which to judge success or failure in reaching goals and facilitates timely corrective measures. Budgeting forms the baseline for a company 's future performance. Managers create the budget anticipating financial conditions and market expectations for future periods. These managers calculate revenues and expenses for the period being budgeted. When the period reflected in the budget arrives, the managers compare actual expenses to the budget numbers and evaluate the department 's performance.

to ensure that an organization will have the necessary financial resources to function throughout the year, budgets must be created. In the budgeting process money is allocated to various departments of the organization for a specified time period. In most cases budgets are created on an annual basis, typically just before a new fiscal year begins. To create a budget management must look at past business performance, prior-year sales, revenues, expenses, and other overhead operating costs. These costs are typically carried forward in order to predict the future of the business. Ultimately all of the information and planning results in a budget. In most cases different departments within an organization will have different budgets based upon their needs but they will all be incorporated into an overall corporate budget.