Assignment:
Review the Long Beach FY 2017 adopted budget again and respond to several related questions. Respond to the following questions with full and comprehensive responses. Responses may be two or three paragraphs in length and the total document no more than 3 to 4 pages. APA format.
Review the:https://longbeach.gov/finance/city-budget-and-finances/budget/budget-documents/
1. What are the three largest revenue sources for Long Beach's General Fund and explain whether or not each represents a stable, reliable and predictable source of revenue for the City?
2. Name two general types or broad categories of expenditures (i.e., objects of expenditures) for Long Beach General Fund budget and indicate how much they have grown or decreased as a percent from FY 2015 to FY 2017 and whether or not that represents a threat or boost for the City's financial stability.
3. How can you tell whether the City's budget is balanced?
4. Provide an example of resources transferred from one fund to another fund in this budget and explain what purpose this transfer serves.
5. Identify two performance measures from one of the City departments and briefly explain how they might be used in making budget decisions.
6. What is the minimum amount the City budgeted for General Fund reserves in FY 2017 and do you believe it is adequate?