Assignment:
Label Answer Part 1 and part 2
Part 1
Operating Budget
Most colleges follow a formal budget process that involves a scheduled period during which a budget committee crafts a budget and submits it for approval. Most colleges separate the operating budget from the capital budget requests.
Review the operating budget process at your institution(Albany State University Albany,Ga) and address the following:
- Determine if the budget process is inclusive and encourages input from the campus community.
- Share the information that is provided to the participants in the budgeting process and explain why it is provided.
- Evaluate the budget schedule to determine if it allows sufficient time to gather, analyze, and decide on department budget requests.
Part 2
Capital Budget
For this , examine the capital budget process at your college from above question and determine how it differs from the operating budget process. Prepare a post in which you address the following:
- Identify the process used to identify capital projects.
- Determine how the capital budget requests are prioritized.
- Discuss the methods used to fund the capital projects.