The financial health and welfare of Thurston County is dependent upon establishing and maintaining sound budgetary principles and strategies for implementation. These financial principles will govern the development and administration of budgets for all county offices and departments. The County is to prepare fiscal and capital budgets that are to be balanced to be able to forecasted, which are to be consistent with approved strategic goals and capital improvement goals. Each county office and department will periodically seek to use citizen feedback in the development of the internal strategic plans to develop the high priorities for Thurston County government. For each department, resources are made available that will remain aligned with the strategic planning and priorities developed with the public input. Thurston County will create and maintain a reserve for the general fund that is equal to one month of the budget annual expenditures. The reserve will serve the purpose of the financial stabilization account to safeguard against possible revenue shortages
The city of Long Beach has an abundance of culture, resources, diversity and means. This reflection is what attracts many people to visit downtown, attend school and other surrounding vicinities. At the close of Fiscal Year 2015, “the City’s assets increased $118.9 million, or 3.5 percent from the prior fiscal year. Citywide, assets increased $282.3 million or 5.0 percent” (Finance, 2016). The report also states, “sales tax revenues increased 8.6 percent or $5.1 million. Other taxes, inclusive of transient occupancy and business taxes increased 937 percent or $4.0 million (Finance, 2016). Residents and visitors vast amount of travel and contributions to the city, allows those funds to be allocated to other public services in the community.
In the second half of this paper, I will analyze is the State of California’s Financial Report. The government is not a nonprofit, although they are quite similar; therefore, the government’s financial report will be evaluated using different methods and from different perspectives. To get a broad overview of this government, first, the financial position and economic condition of the State of California will be evaluated. Then, things with more depth, such as budget planning, funds, and infrastructure, will be discussed.
This paper will analyse the 2013/14 Fiscal budgets the City of Ukiah and California City. I will attempt to examine the similarities and differences of both these cites revenue and expenditure line items in their budgets. The cities are similar in that they generate revenue from many of the same resources and they have similar expenditures in their annual fiscal budget. However, the cities budgets strategies are different because both these cities demographics, social, economic, political platform, and historical characteristics guide both cities elected official’s decisions during the budget process.
Farmersville is in major deficit since the recession. In order to increase the budget the City of Farmersville needs a solution, which will benefit 10,704 people who lives within the city limits. To be able to increase the budget the city came up with two measures, this measure intends to help people of Farmersville, California, which will bring more jobs, better service for the community, and road construction and will bring programs to help the young and the elderly.
The purpose of this paper is to define accounting, and identify the four basic financial statements. The paper also explains how the different financial statements are interrelated to each other and why they are useful to managers, investors, creditors, and employees.
If the council 1 % increase tax proposal does not benefit the majority of the city’s population, I would personally try to create a plan to address the deficit by proposing a plan to evaluate, eliminate or preserve city programs. I would present this plan in the next meeting and I would also politely express that I do not think it is appropriate for me to go around door –to-door handing out
financial statements” (Waxman, 2013, p. xiii). It is the purpose of this paper to discuss some of
Mason City, Iowa is commonly referred to as the ‘River City’ due to its concentrated development on the Winnebago River, and it is sentimentally known for its outstanding musical heritage. The following report describes the political, socioeconomic and fiscal environment for the city of Mason City. In particular, potential constraints in fiscal outlook as it relates to the city’s revenue structure, own source funds and level of state and federal aid. This report explores the city’s revenue structure in preparation of a comprehensive fiscal analysis.
Americans are not unfamiliar with the concept of a budget, in fact, most follow a budget on an everyday basis, however, the topic of a public budget can be overwhelming to many them. Although many Americans might have a small concept of how the federal budget works, very few are familiar with their local budget process, and even less familiar to their adopted annual city budget. Every local budget is as unique as the cities who developed them. The following paper will summarize, evaluate, and compare El Paso Texas and San Diego California’s 2012 budgets. It will compare their revenues, expenditures, and budget format. It will attempt to analyze the similarities and differences and determine the causes of such similarities and differences.
Provide names and URLs of the Websites for the state’s budget(s) analyzed and any other government Websites used to support the assignment’s criteria.
People are becoming aware of the financial discrepancy between upstate New York and New York City. Today, the state cuts taxes across the board and letting the market operate; the state has opted to launch some targeted public and public/private initiatives to reenergize the economy Upstate. New York State will do better by making itself more tax-friendly to businesses and
As the business environment grows and companies find new ways to expand into their respective - or even new – markets, it is important that reporting standards stay up to date with changes and continue to assist companies in providing their users with useful accounting information. Information is labelled as being useful when it meets the
Understanding the sources (incomes) and uses (expenses) of funds, and the budget deficit/surplus that results, are core accounting measures to consider in short and long term personal financial planning. Also, grasping key concepts like how your salary/wages are earned and segmented/taxed is important in determining your net incomes. How to approach deficits and surpluses and their associated action plans come from sound accounting understanding. Accounting develops controls on how to deal with budget deficits like increasing income, reducing expenses and borrowing. Understanding how sunk costs and opportunity costs factor into alternative choices and borrowing come to us from sound accounting knowledge and play a role in personal planning. Lastly, through various standard reporting approaches, we, though accounting, can develop the ability to look at current and future personal finance decisions and health via income statements, balance sheets, ratios and other common size book keeping measures.
The Government Finance Officers Association (GFOA) budget criteria framework covers 27 budgeting categories and was launched in 1984 to encourage the preparation of high quality budgets (Bland, 211). The following memo evaluates the budget of the City of Lake Oswego using GFOA’s Distinguished Budget Presentation Awards Criteria, and also compares it to the budget of the City of Detroit.