In a 750-word evaluation, assess the value of the budget cycle and budgetary planning techniques.
Thread Outline Use statements as headings in your thread.
I. Assessment of the Value of the Budget Cycle, as indicated below
*Revenue Estimation performed in the executive branch by the finance director, clerk’s office, budget director, manager, or a team.
*Budget Formulation reflecting on the past, set goals for the future and reconcile the difference.
*Budget Hearings can include departments, sections, the executive, and the public to discuss changes in the budget.
*Budget Adoption final approval by the legislative body.
*Budget Execution amending the budget as the fiscal year progresses.
II. Assessment of the Value of Budgetary Planning Techniques
Trend Analysis-examining short- and long-term revenues and expenditures over time
Driver-Based Planning-examining short- and long-term revenues and expenditures driven by and important determinants, such as revenues generated, overall objectives, and number of residents.
Financial Modeling- takes driver-based planning one step further and uses equations to support the planning process.
Forecasting -Regression based simple, multiple, linear and nonlinear extrapolation
