The General Fund (Fund 10) includes funding from the federal, state, and local governments. Examples of revenues and expenditures from this fund are taxes, interest on investments, salaries, and instructional costs. The Special Fund (Fund 20) is monies allotted for specific programs; Special Education being the largest portion. Having a Special Fund provides an additional layer of accountability to the government and taxpayers that the public funds are being distributed according to their intention. For instance, s restrictive grant indicates that the money must be spent according to the criteria. The Capital Fund (Fund 30) is dedicated to projects or improvements such as building an addition to a school. In order for districts to afford capital projects, they bond for the money which requires voter approval and results in a tax levy. Lastly, is the Debt Service Fund (Fund 40) that illustrates the
By creating a budget this facility will be better prepared in knowing how much money they spend and
In summary, BCC is financially healthy in terms of the general fund, which has a surplus in FY14 and pending legislation that could increase funding as well. Both academic and career tech programs are well funded in terms of supplies and equipment The technology equipment budget increased dramatically in FY14 due to the start up costs associated with 1:1 but will decrease in future years with less computers needed to be purchased to sustain operations. In the future, BCC will continue to look for ways to bring down the cost of the 1:1 program by diversifying technologies to move away from solely using a more expensive Windows machine. This is by no means a complete review of the budget as only a few sections were reviewed and no historical analysis is included as well.
Local government and the challenges of the future is a comprehensive topic and subject to many differing opinions as it relates to geographical area examination and their specific needs. Every country, province, city etc. has their own detailed challenges in urban and rural settings but internationally there are similarities.
Introduction: In this report I will be speaking about how managing the resources of an organisation and effective budgetary control can lead to improved performance of a business.
State and local governments acquire federally funded grants as a form of financing. To ensure said state and local governments properly utilize such grant monies, the Office of Management and Budget (OMB) has implemented cost principles by which recipients of federally funded grants must comply in utilizing grant funds (Reck, Lowensohn, & Wilson, 2013). As the local government has incurred expenses which have been charged to the grant, the audit team must determine if said expenses are allowable under the Cost Principles implemented by the OMB.
When the expectation is to level up, not down, often any chance of savings is eliminated and may even include hiring additional supervisors, support staff or specialized positions (L.G.C, pg. 153). This addition of staff may also take place due to a loss of volunteer positions within smaller municipalities, which may impact the community connectivity to municipal programs or events. Norris, Pharres and Zimmerman’s Ontario study suggest that within a regional government system, the larger the municipality, the higher per capita expenditures (L.G.C, pg. 154). Local government service and program are often dictated by
Tax payer money can be payed forward to superior factions of the U.S. government like the education system. School systems are underfunded, education should be a top priority, and the reaping of the payments can be returned directly back through tax payers with their children succeeding with degrees. The best way to ensure America’s future is with healthy funds from Americans who are behind what they are financially supporting; thus, that support is to the one thing that holds up society and is the priority to parents or guardians: Education.
Have you ever gone to a hospital, had a procedure and walked out of the hospital without anyone asking you to make a payment? That’s because hospital treatments in Australia are funded under Activity Based Funding (ABF) a subsidy program where hospitals receive funding for providing treatment and cost effective patient care that is, accessible and high quality (Baxter et al., 2015).
In contrast, having funding can also lead to loss of control (Lord & Hutchison, 2003). According to Gilchrist and Taylor (2011), external funding comes with responsibilities, responsibilities regarding where, when, and how funding is being used. Due to this, certain approaches or procedures have to be conducted in a certain way in order for it to be measured and quantified, which can be difficult in instances of measuring community
Kickstarter was launched April of 2009. This funding platform was created to sponsor creative projects like games, music, films, art, technology and design, Kickstarters projects range from the ambitious, imaginative and innovative. They are being brought to the scene from the direct support of patrons.
Schools have a number of various sources. The primary sources are federal, state, and local funding. The majority of funding comes from state and local sources; whereas a small percent (usually 9-12%) comes from the federal level. The method by which schools receive funding is through the taxation process. At the state level, taxes are levied from taxpayers, both corporate and citizens via sales and income tax. At the local level, school funding comes from property taxes. Let’s explore the how the various sources of school funding. “According to the National Center for Education Statistics, state and local funding accounts for approximately 93 percent of education expenditures” (Woodruff, 2008, ¶ 2). Let’s examine these various sources of revenue and funding and different formulas for allocation along with their pros and cons.