Attached are my assignments for this week. Please follow instructions all the way through and give the best work you can. If there are any questions or you cannot open links or .pdf please let me know

Read This Week

The Basics of Public Budgeting and Financial Management

• Chapter 5: Funding State and Local Budgets, pgs. 119-159

The first module gave you an introduction to public budgeting from a practical standpoint as well as introduced you to some of the theoretical concepts that are associated with the practice. Although this information is very valuable, it is important to be aware of the human element that heavily influences the budgeting process. In this module, we will discuss the main actors that are associated with the budget process and how different groups can influence budget decisions and policy making. In addition, we will discuss the budget cycles and timeframes associated with budget development and how this relates to the larger budget “game.”

ASSIGNMENTS:

SEE ATTACHED .PDF FILE FOR MODULE ASSIGNMENT INSTRUCTIONS

Let's engage in some dialogue. It's one thing to read about a topic. But, in order to learn, we need to think, write, and talk about the topic. We've combined the module notes with a discussion so that you may jot down your thoughts, insights, questions, etc. as you read.

Within the notes, you'll find guiding questions, articles, and videos to help spark the conversations. To start the course off, let's talk about the differences between public and private budgets. Let's also explore the implications of federal budget differences on the general public. To earn maximum points, be sure to review the discussion guide and the discussion criteria links below.

The District of Columbia and Texas have revenue estimates posted on the following websites:

1. DC.gov (Links to an external site.)

2. Comptroller.Texas.Gov (Links to an external site.)

Please read the revenue estimates and familiarize yourself with the areas of spending that may be adjusted due to other factors impacted by budget planning and preparation.

Please review each, select one (DC or Texas) and prepare a short two-page summary providing your revenue management evaluation on the condition of the budget. What are they spending money on and how does the spend impact other budget line items?

State and local budgets receive the bulk of their revenue from taxes; property tax to be exact. But, there are other tax sources that provide income to the budget. Based on the readings and the discussions, you are much more familiar with the form and format of a government budget and its sources. Essentially, you have seen in each of the modules various components of a budget. Together, they are representative of a full financial view of a government’s or organization’s projected plan for the upcoming fiscal cycle.

I hope budgets, for those of you unfamiliar with them, are becoming more clear and less daunting of a task. If there are any burning questions, please feel free to share so that I may help to clarify any lingering concerns.

We are now preparing to engage in the analysis of the numbers, something you have been doing since the beginning of the course. Ideally, in your professional and personal life, you have an opportunity to look at what you have done and make the necessary modifications and recommendations for the upcoming year. The same thing happens with budgets. What have we done? What do we want to do? How can we do it better?

Take your personal budget experience for example and review your spending habits. Have they changed over time to afford one more vacation opportunity? A new car? A down payment on a house? Have you forecasted your budgetary needs to accommodate a new or better living situation?

Share your example of forecasting, cost-benefit analysis, or another method of analysis.