Chapter 12 - Budgeting and performance measurement. After studying Chapter 12, you should be able to: Explain the objectives of budgeting; explain the differences among various budgeting approaches; describe the budgeting process for a state or local government, including the procedures involved in preparing specific types of budgets;. | Accounting for Governmental & Nonprofit Entities JACQUELINE L. RECK SUZANNE L. LOWENSOHN 17/e Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 Budgeting and Performance Measurement C H A P T E R 12 2 Learning Objectives 12-1 Explain the objectives of budgeting in the public sector. 12-2 Explain the differences among various budgeting approaches. 12-3 Describe the budgeting process for a state or local government, including the procedures involved in preparing specific types of budgets. 3 1 Learning Objectives 12-4 Describe methods of integrating planning, budgeting, performance measurement, and performance reporting. 12-5 Describe managerial tools used to improve performance. 12-6 Describe the budget and cost issues in grant accounting. 4 1 Budgeting in Governments Budgeting in government is not just a prudent management practice, it’s the law! Budgeting in Government Budgeting in | Accounting for Governmental & Nonprofit Entities JACQUELINE L. RECK SUZANNE L. LOWENSOHN 17/e Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1 Budgeting and Performance Measurement C H A P T E R 12 2 Learning Objectives 12-1 Explain the objectives of budgeting in the public sector. 12-2 Explain the differences among various budgeting approaches. 12-3 Describe the budgeting process for a state or local government, including the procedures involved in preparing specific types of budgets. 3 1 Learning Objectives 12-4 Describe methods of integrating planning, budgeting, performance measurement, and performance reporting. 12-5 Describe managerial tools used to improve performance. 12-6 Describe the budget and cost issues in grant accounting. 4 1 Budgeting in Governments Budgeting in government is not just a prudent management practice, it’s the law! Budgeting in Government Budgeting in government can be seen as A prioritization of program and service goals An expression of political values A plan of financial operation A way to facilitate compliance with laws A way to communicate performance effectiveness Views of Budgets in Government GFOA’s Distinguished Budget Presentation Award The areas of budget documents reviewed for this award include Introduction and Overview Financial Structure, Policy and Process Financial Summaries Capital and Debt Departmental Information Document-wide Criteria Budgeting Process Budgeting Process Budgeting Process Budgeting Process Budgeting Process The governmental budgeting process is guided by a budgeting calendar, which helps ensure that deadlines are met. A budget officer is designated, usually from the central administrative office. Budgets for ongoing or new programs are prepared by departmental administrators. Departmental budgets are reviewed and approved by central administration before being submitted to the legislature. .
