Chapter 6: Working with the Budget Flashcards
An ____ is a local government’s single most important financial responsibility
annual budget
The ____ is where an organization allocates its resources to accomplish its vision and carry out agreed-upon strategic priorities
budget
The ____ is an important resource for you as a local government supervisor.
budget
____ is the term used to describe the annual (twelve month) budget cycle.
Fiscal year
Preparation for any fiscal year budget can begin as much as ____ months prior to the onset of the fiscal year.
five to eight
The local government budget serves three important functions:
Control, Management and Planning
A local government ____ is a legal document that defines how much money can be spent for day-to-day operations.
budget
The ____ defines what your department plans to accomplish during the coming year.
budget
The ____ covers revenue estimates and planned expenditures for the year for all ongoing government activities.
operating budget
The ____ covers revenue sources and planned expenditures for nonrecurring, multiyear items such as construction, equipment acquisition, or improvement of public facilities.
capital budget
The ____ is the local government’s plan for allocating resources for personnel, supplies, equipment, and the operation of facilities during a fiscal year.
operating budget
A____ organizes financial information into categories of expenditure for each department, division, or agency. Generally, two broad categories: ___ and ____.
line-item budget / salaries and other expenses
A ____ presents financial information according to services to be provided, such as solid-waste collection, street sweeping, vehicle repair, public safety, and recreation.
program budget
A ____ shows the purposes for which money will be spent, focusing on program goals and outcomes rather than expense categories such as salaries and supplies.
program budget
A ____ carries a program budget one step further by describing the amount of services to be provided for money spent.
performance budget
A ____ focus is on what the local government will do during the fiscal year rather than what it will buy.
performance budget
____ involves collecting data in a systematic and objective way to determine the efficiency and effectiveness of service delivery.
Performance measurement
____ generally fall into these categories: Inputs, Outputs, Outcomes, Efficiency, and Effectiveness.
Performance measurement
____: resources required to accomplish an activity
Inputs
____: quantitative measures of what the activity produces
Outputs
____: impact or results of the activity focusing on service quality
Outcomes
____: cost per unit of outputs and inputs
Efficiency
____: quality of the work performed
Effectiveness
The capital portion of a local government’s annual budget is often drawn from the ____(CIP).
capital improvement plan
The ____ is a multiyear plan for financing major equipment or infrastructure improvements including new buildings, additions, or improvements
CIP
Some smaller local governments, for example, have section in their operating budget, called ____, where capital items are listed.
capital outlay
The ____ is a legal, technical, and public document.
annual budget
Three ways that supervisors affect budget outcomes:
- Well-maintained equipment
- No worker injuries or claims
- Minimal employee turnover
Approximately ___to___ months before the new fiscal year, department heads and supervisors will prepare their individual budgets.
4-6
Budget preparation begins about __to __ months before the beginning of your local government’s fiscal year.
5-8
