Municipal Budgtes - Speech or Presentation Example

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Municipal Budgtes

Main types are line – item and program budgets (NACSLB 37). Thus, neither budgeting method is perfect as each serves a different purpose: such as performance maximization or objective – activity alignment. A perfect budget should satisfy twelve principles. As indicated in the definition of the budget process, these principles are creation of goals based on stakeholder analysis, their implementation, including efficiency analysis and adjustments (NACSLB, 1999, p.5). The first type is line – item budget. This approach arose at the beginning of the 20th century (Tyer & Willand). It lists categories of expenses, such as “personnel, operating and capital expenses” (Tyer & Willand). Incremental approach belongs to this type as well. In this approach, previous year’s budget is adjusted for legislative changes, price, wage inflation and any other change that might take place in the new fiscal year (Northern Ireland Assembly 5). Since changes take place on a marginal basis in comparison to the last year’s levels, the base, this method is called incremental budgeting (Northern Ireland Assembly 5). This method saves time and resources. ...Show more

Summary

Name Professor Name Class Date Municipal Budgets Allocation of resources in the public sector has given rise to the need for budgeting (Northern Ireland Assembly 4). Creation of a good budget is a forward looking process that links organizational goals with outcomes, while encouraging stakeholder dialogue (National Advisory Council on State and Local Budgeting [NACSLB] 3)…
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