Description

Directions: Please read each question in its entirety prior to completing the assignment. There are Excel worksheets for questions 2-4. Questions 1 should be typed in MS Word. All (text files and Excel sheets) of the responses to the questions should be placed in a MS Word document. Please turn in your Excel worksheets and the MS Word file.

Describe/defme the various types of budgets listed below. Your response should include things like: who proposes the budget, the period of time covered by the budget, and the overall benefits to using one type of budget over another type of budget. You will have to research these terms as they are not all defined in this textbook.

A. Estimated Budget

B. Projected Budget

C. Proposed Budget

D. Recommended Budget

E. Adopted Budget

F. Appropriated Budget

G. Actual Budget

H. Balanced Budget

I. Baseline Budget

2. From the perspective of a bureaucrat, which government accounting method is more feasible for each revenue source? Cash Basis, Modified Accrual or Full Accrual. Explain your response. The key to your response should be stability or volatility of the revenue source over time. Further, you should consider whether the revenue source can be broken down into components parts. For example, user fees collected from a street meter may differ in stability from user fees collected at a toll station. In addition, you should realize that the amount and percentage of revenues collected from each source can vary from year to year depending on any number of social, political and economic factors. In any event, be specific and justify your response. It may be useful to review the revenue information in Chapter 5, prior to responding to this question. A. State Income Taxes

B. Public Utility Fees

C. Donations

D. Motor Fuel Taxes

E. Licenses and Fees

F. Sales Taxes

G. Gaming Fees (casinos)

H. Block Grants I. Property Taxes

3. Mayor McClain has appointed you to head the newly created Recycle Department for the Jefferson City. Your first task is to prepare a series of budgets for your department. More specifically, the mayor has given you $450,000 in FY 2018 and $500,000 in FY 2019 to run the department. Using the Excel worksheet templates for chapter 1, prepare a budget estimate for FY 2018 and a budget projection for FY 2019 using a simple line-item, program, and performance budget format allocating the fund that are listed above.

A.Line Item Budget: In your line-item budget, use the categories (personnel, operating, and capital outlay) that are listed in the text. You are free to spend the funds any way that you see fit. However, remember that personnel costs usually consume the majority of a budget.

B.Program Budget: Consider the different types of activities (divisions) that a recycling department would be engaged in (recycling glass, paper, plastic, aluminum, etc). Your goals and/or objectives should be slightly modified in the second year to show growth in one area and a decrease in another area.

C.Performance Budget: Set some specific goals that you can attain for either one of the divisions that you created in your performance budget (i.e., collect 6 tons of paper during the first year of operation). Suggestion: In addition to staff, a Recycling Department may need the following: recycling bins, aluminum compressors, trucks, marketing brochures, and trailers to hold the recyclable materials.

4. Based on the information in the text and the goals and objectives that you have established for the Jefferson City Recycle Department in Question 3 respond to these questions.

A.Which one of these three budgets best describes what the Recycle Department does? Explain your answer.

B.Which one of these three budgets gives: the director of the department/agency; the mayor; and the legislative body, the most discretion/latitude in making budgetary decisions about the agency? Think about the roles of these persons prior to answering the question. The response for each entity should be explained separately.