Explain two challenges you will have in managing the budget


Homework

From your local city's budget, select an agency, program, or department in your city, and that appears as a budget item in the city budget you downloaded. Assume you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budget, program, and capital projects. As the administrator, you will be responsible for analyzing, examining, proposing, and preparing the agency's budget for the next five years.

Write a 4 to 5 pages paper, titled: The Operating Budget for the (selected Agency/program/Department) in which you separate the content into sections:

o Provide background information about the agency, mission, goals, objectives, departments, and strategic plan. (Title this section Introduction.)

I live in Ridgeland, SC

I. Describe the budget of the agency by addressing the following items: (Title this section Budget Overview.)

i. Financial Summary, including Revenue and Expenditures
ii. Department Budgets
iii. Funding
iv. Capital Projects
v. Debt Administration.

II. Perform a Cost Analysis. (Title this section Cost Analysis.) The costs should include the following:

i. Fixed Costs
ii. Step-fixed Costs
iii. Variable Costs

III. Identify and explain one to two challenges you will have in managing the budget. (Title this section Budget Challenges.)

IV. Recommend two to three strategies the agency should review regarding new initiatives and budget cuts over the next five years. (Title this section Budget Recommendations.)

V. Include the agency's most recent budget or financial plan.

VI. Provide the agency's Website name, URL, and any other sources used to support the assignment's criteria.

Format your homework according to the give formatting requirements:

• The answer must be using Times New Roman font (size 12), double spaced, typed, with one-inch margins on all sides.

• The response also includes a cover page containing the student's name, the title of the homework, the course title, and the date. The cover page is not included in the required page length.

• Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.

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Financial Management: Explain two challenges you will have in managing the budget
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