– Operating Budgets:
A budget can be a process, a document, an accounting ledger, a plan, or a system.
Local gov’t budgeting process unique – product of geographical, historical, economic, political and social factors peculiar to that jurisdiction.
Budgeting is a unified series of steps to line and implement four functions:
❑ policy development – as policy instrument, CEO and legislative body need to articulate the goals, objectives and strategies that underline the budget – the flip side
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