Budget Document

Posted: January 10th, 2014

An organization’s operational budget is no more than next year’s action plan in financial terms. It should list major goals and objectives for the upcoming year, as outlined in the strategic plan. Then, the budget must identify which programs or services best achieve those goals and estimate all expenses necessary to deliver them. Budget documents should also include expectations for revenue. Budget documents vary in quality. Each year, the Government Finance Officers Association (GFOA) awards government organizations for the quality of their budget documents, using criteria established in its Distinguished Budget Presentation Award Program found at http://www.gfoa.org/index.php?option=com_content&task=view&id=33&Itemid=57.

In this Application, you will evaluate a budget document using the above criteria.

To prepare for this assignment:

Review the GFOA Web site “Distinguished Budget Presentation Award Program,” focusing on the specific criteria for budget evaluation in the four categories. Analysis and Applications for presentation “Budgeting for Outcomes for Smaller Communities,” focusing on the fundamentals of this budgeting approach.
Reflect on the need for quality budget documents in public organizations.
Select a public organization, one with which you are familiar or of which someone you know is a part, for use in this Application.
Reflect on what you read about effective budget documents and relate your reading to this specific organization.
Select a specific budget document from the organization you selected for use in this Application.
The assignment: (1 page)

Briefly describe the organization and the budget document you selected.
Identify the specific type of budget document you selected.
Evaluate the budget document using GFOA criteria.
Explain whether or not the budget document serves the constituents and other stakeholders of the organization.