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CP 6-5 Integrity and evaluating budgeting systems The city of Milton has an annual budget cycle that begins on July 1 and ends on June

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CP 6-5 Integrity and evaluating budgeting systems The city of Milton has an annual budget cycle that begins on July 1 and ends on June At the beginning of each budget year, an annua ment. The annual budget is divided by 12 months to provide a constant monthly scac budget. On June 30, all unspent budgeted monies for the budget year from the vsh ail city departments must be "returned" to the General Fund. Thus, if department heads fa to use their budget by year-end, they will lose it. A budget analyst prepared a chart o the difference between the monthly actual and budgeted amounts for the recent tisc year. The chart was as follows: l budget is established for each depart- al Actual Less Budget $35,000 30,000 25,000 20,000 15,000 10,000 5,000 5,000) (10,000) 0 0 (15,000) Months a. Interpret the chart. b.Suggest an improvement in the budget system

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