Budget Tips Some things to consider… Good Government.
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Transcript of Budget Tips Some things to consider… Good Government.
Budget TipsBudget TipsSome things to consider…
Good Government
What is a What is a budget?budget?
Definitions- (n.)1. Summary of income and spending- an often
itemized estimate of income and spending, for example, of a country or company, during a specified period.
2. Plan for allocating resources- a plan specifying how resources, for example, time or money, will be spent or allocated during a particular period.
3. Money for a specific purpose- the total amount of money allocated or needed for a specific purpose or period of time.
Definitions, cont’d.- (v.)1. To plan spending.2. To live within spending limits.
Why?Why?
We are stewards of public We are stewards of public resources resources andand MONEY! MONEY!
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U DDG G E E TT
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D G G E E TT
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…GGE E TT
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.EETT
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.E E xcellence and precision in accounting will facilitate…T T
By the letters…By the letters…
B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.E E xcellence and precision in accounting will facilitate…T T imely preparation and evaluation of your BUDGET!
Bottom LineBottom Line
Plan Early-Plan Early- Have a Have a vision for the upcoming vision for the upcoming yearyear
Review Often-Review Often- Keep Keep accurate, up to date accurate, up to date accounting records.accounting records.
Don’t Be Afraid to Amend Don’t Be Afraid to Amend the Course!the Course!