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CODC > Week 5 > Flashcards

Week 5 Flashcards

1
Q

What is a budget?

A

An estimate, often itemized, of expected income and expense for a given period in the future.

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2
Q

What is budget development?

A

Determining the resources necessary to meet operational objectives as they relate to the elements, objectives and department’s business plan.

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3
Q

The monitoring of financial resources to ensure that objectives are met in an efficient and concise manner:

A

Budget Management

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4
Q

What are three critical revenue shortfalls?

A

Income Taxes
Sales Taxes
Property Taxes

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5
Q

____________ is/are NOT a tactic to gain concessions from government employees.

A

Pay Increases

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6
Q

How many Quarters are there in a fiscal year?

A

4

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7
Q

The period of time from October 1st to September 30th is__________.

A

Fiscal Year

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8
Q

A Fiscal year consists of ____ months.

A

12

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9
Q

How many hours a year are used to budget one full time position?

A

2080

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10
Q

In a business structure, in which employees are paid bi-weekly, how many pay periods are there in a year?

A

26

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11
Q

The primary mission of these programs is to employ asset forfeiture powers in a manner that _________ public safety and security.

A

Enhances

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12
Q

Rule of thumb, involving forfeiture funds, when working with other agencies:

A
  1. Funding is usually distributed based on level of participation
  2. Usually distributed by the lead agency
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13
Q

“Developmental Impact Fees” funding can be used to subsidize normal operating funds. T or F?

A

False.

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14
Q

FICA stands for what?

A

Federal Insurance Contributions Act

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15
Q

A “base” budget request is a _______.

A

Need

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16
Q

The cost for a brand new battle tank is an allowable increase in a “base” budget request. T or F?

A

False

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17
Q

The “Enhanced” Budget Request is a ________. The amount of funding required to perform services ___________________ the current levels.

A

Wants

Above and beyond

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18
Q

When preparing your budget justifications you should?

A

Keep it simple and concise

19
Q

Employment ads are a source for budget justifications. T or F?

A

False.

20
Q

A logical method of calculating trends in order to determine the success or failure of an organization’s financial goals and objectives is:

A

Financial Projections

21
Q

The savings from unfilled budgeted positions is:

A

Attrition

22
Q

What is an encumbrance?

A

Check you have mailed out, but the company hasn’t cashed.

23
Q

In regards to Financial Projections, what would you look for in the second and third quarter?

A 
Spot Trends (2nd Quarter)
Make Adjustments (3rd Quarter)
24
Q

How do you determine the remaining balance of your budget?

A

Budget - Actual - Encumberance

25
Q

In Microsoft Excel, what is the “*” used for?

A

Multiplication

26
Q

In Microsoft Excel, what is the “/” used for?

A

Division

27
Q

If the First Quarter of the fiscal year consisted of 6 pay periods and you spent $71,250 in that quarter, what your annual rejected overtime be?

A

$308,750

28
Q

There are no justifiable reasons that a department can go over budget. T or F?

A

False.

29
Q

What’s are the questions asked in the “Budget Processing Re-engineering?”

A

What are we doing?
How do we do it?
Why are we doing it that way?

30
Q

SMART performance measures are:

A 
Specific 
Measurable 
Attainable 
Relevant 
Time Based
31
Q

In SMART, which question relates to the “Specific” step?

A

What are you trying to achieve?

32
Q

In SMART performance measures, which question relates to the “Attainable” step?

A

Is goal realistic?

33
Q

Budget is all about numbers. T or F?

A

False.

34
Q

Purpose of forfeiture program?

A

Punish, deter and disempower criminals of any assets gained through criminal activity. (All of the above)

35
Q

Forfeiture is government taking __________ of property.

A

Ownership

36
Q

Asset Forfeiture Coordinators job is assuring _________________ are met.

A

Goals and Objectives

Answer D. Both a and c

37
Q

Civil forfeiture is an action against an __________.

A

Asset.

38
Q

The _______ in an Asset Forfeiture Unit examines information.

A

Analyst

39
Q

The Asset Forfeiture Unit Manual should comply with:

A

National Code of Professional Conduct of Asset Forfeiture

40
Q

Real property must be forfeited by:

A

Judicial Process

41
Q

Accounting procedures include:

A

Booking procedures and internal controls
Reporting and audit requirements

Answer: D. Both a and b.

42
Q

Asset Forfeiture management staff is responsible for:

A

Management functions within the unit.

43
Q

Intent of pre-seizure management:

A

Law Enforcement Tool

CODC (9 decks)

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