A Municipal Budget: The Red Lake Municipal Budget Essay

1892 Words8 Pages
A municipal budget is a financial plan that details the level of spending needed to bring the municipal services to the community at the same time maintaining the municipal assets by letting a clear balance between the assets and the liabilities. The budget document allows the mayor and the council to make decisions regarding the services that they provide to the community in the municipality. It acts as a guide to the infrastructure development programs as well as the management process. The budget ultimately is used to also determine if a tax increase is required. The annual budget of the Municipality of Red Lake that was presented for the year 2014 presented an adequate overview of the entity. Budget structures are made up of one to…show more content…
The budget presents an adequate overview of the entity and its financial position whereby the financial requirements are clearly described and presented. The different sources of the finances as well as the outstanding cash requirements are clearly outlined. Capital budget are given whereby the capital development and maintenance cash requirements are given. The capital improvement requirements are given by the presentation of the different development as well as repair and maintenance of the various projects in the municipality. The budget presented by the municipal has shown the financial position of the municipal as it has given a clear indication of the financing process whereby it has shown the various sources of its finance while also showing the outstanding and the prevailing liabilities as well. The balance between the liabilities and the assets held by the municipal stands out as a solvent entity. The donations make up the largest portion and percentage of the total budget. These compose of about 5,000,000 of the overall 25,112, 365 total budget requirements. The overall amount that is accorded to this sector is focused towards the clinic donation meaning that there is a huge investment in medical care services in the municipality. Compared to other sections such as the recreational sector, the licensing and the permitting areas, among other projects this means that the medical care program is the largest. This indicates that the municipal is putting up a

More about A Municipal Budget: The Red Lake Municipal Budget Essay

Open Document