StudentShare solutions
Triangle menu

Budget Transmittal Letter FY 2013 - Assignment Example

Nobody downloaded yet

Extract of sample
Budget Transmittal Letter FY 2013

The financial constraints over the past five years have allowed us to be more disciplined while still exercising some level of prudence. This is so as we ensure that we do what we have agreed to get done in the interest of serving the community. The Proposed Budget for Fiscal Year 2013 which is hereby transmitted takes into consideration the fundamental needs and the priorities that will help to improve or maintain the quality of life of the people in the community. The strategies that have been employed in preparing the Fiscal Year 2013 Proposed Budget has taken the approach of reducing departmental expenditures, government reform and new sources of generating revenue to boost shortfall. Each department will receive an amount that is proportional to the expenses that are expected to be incurred. We continue our quest and commitment to sustainability and this has been demonstrated in the time that has been spent examining and assessing priorities relating to the costs and services that can be reduced. A high level of fiscal discipline on the part of stakeholders is still encouraged as in previous years. The approach that was taken in preparing the Proposed Budget for Fiscal Year 2013 is as follows: i. ...
After all the above were accomplished, had the task of recommending the reductions that would facilitate the balancing of the budget in order to ensure its consistency with the overall goals of the City Council. There are still challenges even though we are recovering from the recession. In the previous Fiscal Year we identified structural deficits relating to that period, the current period and Fiscal Year 2014. Structural deficits have now been identified for Fiscal Year 2013 to the tune of $16.4 million. Departments are still encouraged to review their operations to determine where possible any additional cost reductions that might be possible. In taking a strategic approach which we established starting with the Fiscal Year 2012, we have been looking at the solutions that may be possible for the next three to five years. The operating budget is expected to be around $700 million and from this over $20 million is expected to be cut in order for the district to remain fiscally stable (Puente 2012). See Appendix 1 and 2 for some of the reductions that have been proposed. The increased cost of employee retirements continues to represent a major part of the deficit and uncertainties still abound in respect of the California Public Employees Retirement System (PERS). The investments are not likely to recover what was expected in the initial period and so pension reforms are likely to continue until a surplus is generated. The returns on pension investments are expected to be about 7.75% and will not be able to cover the costs of pensions fully. There are continuing efforts to get employees to contribute more to their pension costs. There are some groups that have decided to increase their contributions. These include employees in the police department ...Show more

Summary

Proposed Budget FY 2013 Institution Name Instructor Date May 1, 2011 HONORABLE MAYOR AND CITY COUNCIL City of Long Beach California Subject: Fiscal Year 2013 Proposed Budget The Fiscal Year 2013 (FY 13) Proposed Budget reflects a number of years of review…
Author : steubergreta
Budget Transmittal Letter FY 2013 essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Budget Transmittal Letter FY 2013"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Budget
The common types of budget are performance budget, cash budget and budget fore cast. Performance budget is based on anticipated revenues and expenses that are anticipated to be incurred in the future (Millett, 2011). Cash budget predicts how the available revenues will be utilized to accomplish a project (Millett, 2011).
5 pages (1250 words) Assignment
Budget Planning
First, an under budget could imply that an organization lacked enough labor to do the forecasted work, meaning the scheduled work is in peril and the most likely course of action is to go over budget to hire more people to complete the
1 pages (250 words) Assignment
Letter of Transmittal
Almost all students of young age are very talented, but with a lack of grooming they are unable to get their desired goals. XYZ University is one of the top ranked
2 pages (500 words) Essay
Defense Budget and Sequestration
ory funding for their defense connected atomic energy plans, $7.7 billion for the defense-connected activities in other organizations, and $137.7 billion for veterans benefits and services. The Treasury should set away $67.2 billion to take care of the unfunded charges and/or
5 pages (1250 words) Assignment
Budget
Nevertheless, for the previous fiscal year, the anticipated plan has on average revenues totaling $2.5million. The infrastructure improvement budget suggests expenses totaling to a tune of around $1.7 million, with an additional $0.5 Million in
2 pages (500 words) Assignment
Letter
I would like to share two speeches with you that closely inform the subject matter of this letter. These speeches inspire and motivate my academic pursuit as well as encourage my optimal utilization of technology in
1 pages (250 words) Assignment
Letter
The bill seeks to recognize that the education and training of the Nurses instills them with the necessary skills that make them professionals in their field of study. Consequently, continued supervision is an act of downgrading the proficiency of
3 pages (750 words) Assignment
Budget
No one is to miss practice or attending the main competition events due to lack of funding. The activities are in line with the sports program’s mission statement that emphasizes on participation and athletic
1 pages (250 words) Assignment
Budget Proposal
2013 witnessed a budget deficit of $1.2 trillion and a total debt burden of $17 trillion. Though America through continuous effort has reduced its target budget deficit of $4 trillion by almost 50%, but still it
4 pages (1000 words) Assignment
Budget Assignment
This money is divided into two; $750 million to the MTA and $750 million for the DOT capital programs. DOT operates, maintains, and administers State and local agencies and public
3 pages (750 words) Assignment
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment
Contact Us