Any help in this assignment would be greatly appreciated.

Task:

In an evaluation, assess the value of the budget cycle and budgetary planning techniques.

I. Assessment of the Value of the Budget Cycle,as indicated below

• Revenue Estimationperformed in the executive branch by the finance director, clerk's office, budget director, manager, or a team.
• Budget Formulationreflecting on the past, set goals for the future and reconcile the difference.
• Budget Hearingscan include departments, sections, the executive, and the public to discuss changes in the budget.
• Budget Adoptionfinal approval by the legislative body.
• Budget Executionamending the budget as the fiscal year progresses.

II. Assessment of the Value of Budgetary Planning Techniques

• Trend Analysis-examining short- and long-term revenues and expenditures over time
• Driver-Based Planning-examining short- and long-term revenues and expenditures driven by and important determinants, such as revenues generated, overall objectives, and number of residents.
• Financial Modeling-takes driver-based planning one step further and uses equations to support the planning process.
• Forecasting-Regression based simple, multiple, linear and nonlinear extrapolation