Effective Supervisory Practices p160-163

Enterprise funds are used by governments to account for what type of activities?

• Governmental activities

• Business-like activities

• Charitable activities

• Educational activities

Which type of fund is collected from other government entities to provide joint services across jurisdictional boundaries?

Evaluate responses using AI:

OFF

Debt service covers:

• interest payments on debt

• principal repayment on debt

• both interest and principal repayment

• only administrative costs

Grant funds are from which sources?

• Government agencies

• Private foundations

• Non-profit organizations

• All of the above

The six steps in the budget cycle are:

• Planning, Programming, Budgeting, Execution, Evaluation, Reporting

• Planning, Budgeting, Execution, Monitoring, Evaluation, Reporting

• Planning, Programming, Execution, Monitoring, Evaluation, Reporting

• Planning, Budgeting, Execution, Evaluation, Reporting, Auditing

During which step of the budget cycle does the CAO work with the governing body to launch the process by defining broad goals and guiding principles?

Evaluate responses using AI:

OFF

How many months before the beginning of the local government’s fiscal year does budget preparation begin?

Evaluate responses using AI:

OFF

What is the recommended time frame for department heads and supervisors to prepare their individual budgets before the new fiscal year?

• 1-2 months before the new fiscal year

• 3-4 months before the new fiscal year

• 5-6 months before the new fiscal year

• 7-8 months before the new fiscal year

What should you do if you have never used the forms or software for budget preparation before?

• Read the user manual and follow the instructions.

• Ignore the software and do it manually.

• Ask someone else to do it for you.

• Guess and try to figure it out on your own.

In preparing your budget request, what are the three guidelines to keep in mind?

• Consider past expenditures, forecast future needs, and align with organizational goals.

• Focus on cost-cutting, increasing revenue, and improving efficiency.

• Prioritize essential expenses, reduce discretionary spending, and seek additional funding.

• Evaluate current financial status, anticipate economic changes, and consult stakeholders.