University of South Florida Budgeting For a New Agency Paper

User Generated

os1137

Writing

University of South Florida

Description

PROMPT:

Suppose that you were asked to set up a budget for your new agency. How would you organize it? What problems would you inspect to encounter? How would the relationship between administrators (you) and the electeds effect this process?

FORMATTING:

Your submission should be approximately 4-5 pages long (not including the work cited). Any submission drastically shorter or longer will lose points. You must use double spacing, size 12 font, and have 1 inch margins all around. You must also cite all information taken from the text. In addition to the text, you must also cite at least TWO OTHER relevant sources. You must also use in-text citations and construct a work cited. You may use the style of your choice.

YOU MUST ORGANIZE YOUR PAPER USING THE FOLLOWING HEADINGS OR YOU WILL LOSE ONE LETTER GRADE!!!!! NO EXCEPTIONS!!!!!

1) INTRODUCTION

2) EXPLANATION OF BUDGETTING METHOD USED TO ORGANIZE THE OPERATIONAL BUDGET

3) DISCUSSION OF PROBLEMS EXPECTED USING THE CHOSEN METHOD

4) DISCUSSION OF SOLUTIONS TO THE EXPECTED PROBLEMS

5) EXPLANATION OF HOW THE RELATIONSHIPS BETWEEN ADMINISTRATOR AND POLICY MAKER WILL AFFECT THE BUDGETING PROCESS

6) CONCLUSION

RUBRIC:

1) Free of grammar and formatting issues:18 points.

2) Budgeting Method clearly explained: 25 points

3) Challenges/problems with methods explained: 25 points

4) Solutions to said problems clearly identified and explained: 25 points

5) Relationship between policy maker and administrator's effects on the process clearly explained: 25 points

6) No section headers: automatic deduction of 12 points

7) To long or short: automatic deduction of 12 points

8) No Work Cited: automatic deduction of 12 points (with possibility of plagiarism infraction)

9) Not enough sources: automatic deduction of 6 points

10) No in-text citations: automatic deduction of 6 points

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Explanation & Answer

Attached.

Running head: BUDGETING FOR A NEW AGENCY

Budgeting For a New Agency
Institutional Affiliation
Date

1

BUDGETING FOR A NEW AGENCY

2

Introduction
Budgeting refers to the process of coming up with or creating a plan on how one or an
organization can spend its money. Budgets play a crucial role in every agency as it sets the
essential priorities. Budgets assists organizations or governments to know their true value and to
look at how their money is spent. All budgets are concerned about financial decisions. However,
at the federal level, budgets have an extra role since it has an impact or shapes the national
economy. On the other hand, the economy of a nation too shapes the budget (Wildavsky, 1986).
This is because decisions made in coming up with a budget affect the allocation of resources.
Coming up with a budget involves a certain process. There are also various methods of
budgeting, and each has its challenges. However, the expected problems in the process of
budgeting can be solved.
Budgeting Method
For a new agency, the best budgeting method is top-down budgeting. This type of
budgeting is also referred to as activity-based budgeting. This method of budgeting determines
the amounts of inputs needed to support the goals or outputs set by the agency. For example, an
agency sets may set an output target of $100 million in its revenue collection. The agency will
first determine the activities that require to be undertaken to meet its sales target. This step will
be followed by finding out the cost...


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