Budget TipsBudget TipsSome things to consider…

Good Government

What is a What is a budget?budget?

Definitions- (n.)1. Summary of income and spending- an often

itemized estimate of income and spending, for example, of a country or company, during a specified period.

2. Plan for allocating resources- a plan specifying how resources, for example, time or money, will be spent or allocated during a particular period.

3. Money for a specific purpose- the total amount of money allocated or needed for a specific purpose or period of time.

Definitions, cont’d.- (v.)1. To plan spending.2. To live within spending limits.

Why?Why?

We are stewards of public We are stewards of public resources resources andand MONEY! MONEY!

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U DDG G E E TT

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D G G E E TT

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…GGE E TT

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.EETT

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.E E xcellence and precision in accounting will facilitate…T T

By the letters…By the letters…

B B efore you begin with numbers, you must first…U U nderstand the goals/visions for the upcoming year.D D etermine deviations from the current year’s budget by…G G athering detailed projections for the upcoming year.E E xcellence and precision in accounting will facilitate…T T imely preparation and evaluation of your BUDGET!

Bottom LineBottom Line

Plan Early-Plan Early- Have a Have a vision for the upcoming vision for the upcoming yearyear

Review Often-Review Often- Keep Keep accurate, up to date accurate, up to date accounting records.accounting records.

Don’t Be Afraid to Amend Don’t Be Afraid to Amend the Course!the Course!