WorksheetsEffective Supervisory Practices p160-163
Total questions: 15
Worksheet time: 15mins
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?
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?
How many months before the beginning of the local government’s fiscal year does budget preparation begin?
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.
Providing enough detail in a budget request is important because:
it helps in accurate allocation of resources.
it makes the document look more professional.
it reduces the need for future budget adjustments.
it ensures compliance with financial regulations.
The difference between capital expenditures and operating expenditures is:
Capital expenditures are for long-term assets, while operating expenditures are for day-to-day expenses.
Capital expenditures are for day-to-day expenses, while operating expenditures are for long-term assets.
Both are used for long-term assets.
Both are used for day-to-day expenses.
In the internal budget review process, who reviews the budget requests with department heads?
The finance committee
The CEO
The HR manager
The department heads themselves
What happens if a department head cannot justify their budget request during the internal budget review?
The budget request is approved without changes.
The budget request is reduced or denied.
The department head is given more time to justify.
The budget request is automatically approved.
The outcome of the external budget review stage is:
Approval of the budget
Rejection of the budget
Request for revisions
No outcome
