In 750 words write a reflective summary on completing a public budgeting project. Additional Instructions are below.
Minimum Expectations Using the scenario provided to the group, prepare the annual budget for the Mayor & City Council. The process ends with a “Budget Presentation” for the Mayor& City Council
• Group Requirements o Fund Summaries – Using fictional data of your choosing, prepare summaries for each of the funds provided in your scenario. Each fund summary should include 3 years of historical data, the current year budget and projected ending number, and finally the recommended budget number for the following year. The fund summaries should reflect the scenario provided and reflect your recommendations. The fund summaries should be turned in with your presentation, though inclusion in the presentation is optional. (10% of Grade). o Presentation – The group will prepare slides to provide a budget presentation for the Mayor & City Council (instructor and class). The presentation should include a summary of your town’s current conditions, key financial trends, expected challenges, budget highlights, and a thorough justification for your recommendations. (20% of Grade). o Analysis / Critical Thinking - While the instructor will provide an overview of the current status and provide specific challenges that exist, these challenges should not be considered the only items to address in the project. Groups are expected to analyze the current status and consider what the outcome of their recommendations might be. Thus, the group’s ability to critically analyze their situation is key to a successful project. As a result, the group presentation and individual executive summary should acknowledge possible outcomes and/or problems that result. (20% of Grade).
• Individual Requirements o Each individual shall prepare an “Executive Summary” for the new fiscal year budget. This is your opportunity to describe the current fiscal and operational state of your municipality. The letter should demonstrate a thorough acknowledgement of the challenges and justify the recommendations of the group. (25% of Grade).
Prepare a 2-3 page “Reflective Paper” (APA Format) to describe your thoughts on the project. Discuss the dynamics of the team, the challenges you encountered, and the eventual outcome of the project. Discuss whether or not you agree with the group’s outcomes and how your recommendations may have been different. Include specific peer feedback within the paper. (25% of Grade). Project Notes Be creative and have fun! Make up your city name, create a logo, etc. Utilize charts and graphs within your presentation and executive summary in order to enhance your work. There are no “wrong” answers to the challenges presented but you must be able to fully justify your recommendations, demonstrate critical and thorough thinking, and provide quality supporting documents for them. The “Minimum Expectations” listed above are minimum standards. You are free to develop and present as extensive of a budget as you wish.
You and the assigned teammates represent the management team for a fictional government entity with various challenges. Teams will be given a scenario which outlines current conditions and challenges. Teams will utilize the information to formulate a recommended budget for the next year.