Budget Definition and Function Budgeting is defined along with the various components of a budget document, highlighting the budgetary process for local government. An overview of the various types of budgets that have been embraced in response to the lack of budgetary theory. Budgeting as Management A discussion on linking the budgetary process with productivity by changing the focus from inputs to outcomes. The roles of performance measurement and benchmarking are introduced. An open discussion of questions and answers in preparation of the mid-term exam.
Attendance is optional.
An overview of the budget process in local government and an examination of the specifics components of a budget document. The case study is discussed in detail, presenting the purpose of the exercise, the end product, and the transmittal letter. The requirements of the letter of transmittal are presented along with examples from various local governments. Budget Inclusiveness A discussion on the ability of local government to authorize all of its expenditures for the fiscal year in its budget ordinance. An overview of the major revenue sources in local government.