--%>
Assignment Help - homework help

Explain Budget Cycle

Budget Cycle: The time period needed to made a state financial plan and enacts that part of it applying to the budget year. The Significant events in the cycle comprise:

• The preparation of Governor's proposed budget (generally prepared between July 1st and January 10)

• Compliance of the Governor's Budget and Budget Bill to the Legislature (by January 10)

• Submission to the Legislature of planned adjustments to the Governor’s Budget

(i) April 1 - adjustments except Capital Outlay and May Revision
(ii) May 1 - Capital expend appropriation adjustments
(iii) May 14 - May Revision adjustments for modifications in General Fund revenues, essential expenditure reductions to reflect the updated revenue, and funding for Proposition 98, caseload, and population.

• Revision and Review of the Governor's Budget by the Legislature

• Return of the revised budget to the Governor by June 15, as requisite by the California Constitution, for signature after any line-item vetoes

• Sign in the budget by the Governor.

   Related Questions in Finance Basics

  • Q : What is Make-Buy Analysis Make-Buy

    Make-Buy Analysis: Business decision which compares the costs and advantages of manufacturing a product or product component alongside purchasing it. When the purchase price is high than what it would cost the manufacturer to prepare it, or when the m

    		•
  • Q : Describe factors cause change in

    Normal 0 false false

    		•
  • Q : Effect of change on equilibrium

    Normal 0 false false

  • Q : Equilibrium interest rate Normal 0

    Normal 0 false false

  • Q : Define Claim Schedule Claim Schedule :

    Claim Schedule: It is a request from a state department to the State Controller's Office to distribute payment from a legal appropriation or account for a legal state obligation. The claim agenda recognizes the appropriation or account to be charged,

    		•
  • Q : Supply and demand 1. Albert Jones went

    1. Albert Jones went to his local department store to purchase a pair of Levi s. He thought that the style of Levi that he wanted would sell for about $30 a pair. When he got to the store, he saw a sign which said, Levi s, all styles, $18 a pair. Albert bought three pairs of Levi s. The behavior of

    		•
  • Q : Financial crisis during 1997-1998

    Describe the Financial crisis during the time period of 1997-1998 ?

    		•
  • Q : Influence of mergers and acquisitions

    What influence has mergers and acquisitions had on a customer's access to branches?A branch closing that has resulted from a merger require not necessarily mean a lost relationship. The cause a branch closes is usually the presence of a nearby b

    		•
  • Q : What is Budget Change Proposal Budget

    Budget Change Proposal (BCP): It is a proposal to modify the level of service or funding sources for activities sanctioned by the Legislature, suggest new program activities not presently authorized, or to remove existing programs.

    Q : Question based on change in GDP Normal

    Normal 0 false false