Identify and explain one to two (1-2) challenges you will have in managing the budget.

For Assignments 1-5, you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budget, programs, and capital projects. As the administrator, you will be responsible for analyzing, examining, proposing, and preparing the agency’s budget for the next five (5) years.

Note: Students cannot use New York City as a selected local government

Assignment 1: The Operating Budget

Due Week 4 and worth 150 points

Write a four to five (4-5) page paper, titled Part I: The Operating Budget for the (Selected Agency) in which you separate the content into sections:

Provide background information about the agency, mission, goals, objectives, departments, and strategic plan. (Title this section Introduction.)
Describe the budget of the agency by addressing the following items: (Title this section Budget Overview.)
Financial Summary, including Revenue and Expenditures
Department Budgets
Funding
Capital Projects
Debt Administration
Perform a Cost Analysis. (Title this section Cost Analysis.) The costs should include the following:
Fixed Costs
Step-fixed Costs
Variable Costs
Identify and explain one to two (1-2) challenges you will have in managing the budget. (Title this section Budget Challenges.)
Recommend two to three (2-3) strategies the agency should review regarding new initiatives and budget cuts over the next five (5) years. (Title this section Budget Recommendations.)
Include the agency’s most recent budget or financial plan.
Provide the agency’s Website name, URL, and any other sources used to support the assignment’s criteria.
The specific course learning outcomes associated with this assignment are:

Analyze the basic skills and tools needed for budgeting for public sector agencies and / or departments.
Recommend appropriate policy actions based on the evaluation.
Evaluate a budgeting system at any governmental level.
Analyze the scope and sequence of budgeting in terms of sources of revenues, purpose of government expenditures, budget cycles, budget preparation, and debt administration.
Examine the process and components of preparing a viable operating budget.
Prepare a preliminary budgeting system for presentation before Congress, state / local government, or other organization.
Use technology and information resources to research issues in public budgeting and finance.
Write clearly and concisely about public budgeting and finance using proper writing mechanics.

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