| Title: |
Local Government Budgeting: A Practical Approach for Fiscal Management |
| Prerequisite: |
Governmental Financial Reporting |
| Advance Preparation: |
None |
| Knowledge Level: |
Intermediate |
| Subject Matter Area: |
Governmental Accounting |
| Date of Publication: |
February 2008 |
| Copyright © |
2008 by Bisk Education, Inc. All rights reserved. |
| Recommended CPE Credits: |
8 QAS/Registry (50-minute hour) |
| Expiration Date: |
One year from date of receipt to complete program and submit quizzer to obtain credit |
| Passing Grade for Quizzer: |
70 percent or higher |
At the local government level, budget planning and adoption provides the primary financial management analysis for determining which programs and services will be delivered. Elected officials struggle with the perennial pledge of "no tax increases" against the public's increasing demands for service. This program outlines practical issues for financial planning, program priorities, and communicating with the constituents.
This program is divided into six (6) chapters.
Chapter 1 gives a general overview of the legislative process of developing a government budget.
Chapter 2 reviews the different alternatives of budget planning.
Chapter 3 explains revenue forecasting.
Chapter 4 describes expenditure planning.
Chapter 5 emphasizes the use of the budget as a vital communication tool.
Chapter 6 discuss the importance of monitoring.
Helpful Guidance
Throughout this publication, the user will find explanations and discussions regarding some of the issues that often face practitioners. In order to enhance the user's comprehension of the material and highlight important practical considerations, this publication includes the following designations:
A Biskpoint presents analysis or commentary that attempts to explain or clarify authoritative guidance.
A Bisktip provides practical advice that may be used to help improve client service or service to the practitioner's organization.
Betty King, CPA (KY), CGFM, is a local government consultant in Kentucky. In her 25-year career in local government finance, she has served as Local Government Advisor Chief for the Kentucky Department for Local Government, chief financial officer in several Kentucky cities and audited local government entities from the public accounting sector. In addition to her financial management and auditing responsibilities, she has provided training and technical assistance to local government officials and CPAs who audit governmental entities. Ms. King has also developed training for governmental auditing and accounting continuing education. She has served on the AICPA Governmental Accounting and Auditing Committee, as well as several other committee and Task Force positions with the AICPA. She is a frequent discussion leader for national conferences and training sessions. (Author/ Speaker)
Lucinda V. Upton, CPA (KY), CGFM, is a Program Analyst for Kentucky's Legislative Research Commission. In her 21-year career in state government auditing and accounting, she has held the positions of Assistant Director of Audits in Kentucky's Office of the Inspector General, Financial Manager in Kentucky's Medicaid Program, and others. In addition to her auditing and financial management responsibilities, she has provided training and technical assistance to state audit staff, local government officials, and CPAs who audit governmental entities. Ms. Upton has developed training in governmental auditing and accounting. She is the Education Coordinator for the Southeastern Region of the Association of Government Accountants (AGA) and is a past President of the Central Kentucky Chapter. She has authored courses for Bisk Education, Inc., Sheshunoff Publishing, AICPA Continuing Education Division, and the AGA. She has also been a discussion leader for national conferences and training sessions. (Author)
John L. Norman, Jr., JD, is an attorney in private practice in Washington, D.C., where he specializes in closely held business organizations, as well as estate and financial planning. He is the former National Director of Taxation for the accounting firm Pannell Kerr Forster, and the former chair of PKF's International Tax Committee. He is also a member of the International Tax Planning Association. Previously, he was the Director of Tax Policy for Potomac Electric Power Company. He also taught at the College of William and Mary and George Washington University. Mr. Norman is a noted speaker and author of several publications in the area of federal taxation and he is a regular contributor to CPE Network. (Speaker)