Budget Process Memo

Description

Part A

What are the differences in budgeting between private businesses and public service organizations? Why do you think these differences exist?

How do major sources of funding compare between the federal government, state government, and local government? What is an example of each in your state?

There are many different types of budgets (e.g., zero-based, program, performance, line-item). Which type of budget do you feel is best suited for government budgeting, and why? Support your position with an example.

Part B

Assignment Content

Financial analysts guide governments and security entities in decisions about the budgeting process.

Imagine you are a financial analyst for a state or local (municipal or county) budget office.

Write a memo to the new incoming group of legislators to describe the budget process.

Include the following in your memo:

A description of the steps of the budget process, including when the fiscal year begins and ends

The timeline and key milestones of the budget process from budget submission by agencies/departments

Explanation & Answer:

2 Papers

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