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The Virginia Department of Planning and Budget, Term Paper Example

Pages: 2

Words: 435

Term Paper

In looking over the Virginia Department of Planning and Budget, the approach to the budget is a factor that has been used throughout administration. The government’s use of budget approaches is a way in which help to translate numerous policy decisions into financial plans. The many different approaches includes site-based budgeting, zero-based budgeting, program and planning budgeting (PBB), performance budgeting and traditional or line item budgeting. For the budget approach of the government of Virginia, they used a hybridized version in which use performance budgeting in which focused on budget and environment expenditures. This was based on the standard cost of inputs multiplied by the number of units of the activities in the period of 2014 to 2015. While also using an outcome-focused budgeting in which considers more effective uses for governmental resources. In majority, the DPB is largely based on Performance Budgeting approach, in which, look at the non-technical and technical aspects of the operating budget.

The form of the budget is based on looking at the operations budget of the government. By taking a performance budget approach, is helps in a developmental analysis of annual budgets in continuing the planning process. The operating budget is used in helping to make decision-making to site based objectives, which incorporates many sectors of the state. The roles and responsibilities entrusted in individuals that oversee the budget includes operating at the highest levels of management. Individuals must also be knowledgeable of the decision-making and budget preparation.

As state budget analysis, it is the responsibility to be aware of the guidelines and objectives of preparing the operating budget for the budget performance. The underlying factors that influence the budget includes fiscal responsibility and cost effectiveness. The checklist includes:

  • Type of agreement for evaluation funding
  • Condition of payment
  • Funding Period
  • Funding Source
  • Budget Contact: (Why the budget matters for the department)
  • Budget limits
  • Budget Format (designated or institutional)
  • Require separate set of details to explain how money will be used or calculated
  • Cost breakdown by function/task
  • Annual cost or performance summary
  • Personnel Costs
  • Cash Allocation
  • Investments
  • Revenues and Receivables
  • Grant and Entitlement Monitoring
  • Capital Assets
  • Procurement and payables
  • Employee Compensation
  • Financial Reporting
  • Projections in revenues for the upcoming fiscal year
  • Next year, general funding surpluses in the revenue available
  • Interest of investments in additional revenue
  • Expenditures that correlate to projections for the next fiscal year
  • Money appropriated unlikely to spent in the current fiscal year
  • Attrition savings and turnovers that contribute to the overestimation of wage costs
  • Contingency funds
  • Purchases or capital improvements paid out for current revenues of the fiscal year
  • General fund to funds transfers
  • Compliance with Appropriation limits
  • Significant changes in activities (new, ongoing, and proposed)
  • Summary of maintenance units
  • Summary of Enhancement Units

Works Cited

“Decision Package Overview.” (2015). Virginia Department of Planning & Budget. 2015. Web. 28 Feb. 2015. http://dpb.virginia.gov/forms/forms.cfm?search=decision

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