Question
The city of Milton has an annual budget cycle that begins on July 1 and ends on June 30. At the beginning of each budget
The city of Milton has an annual budget cycle that begins on July 1 and ends on June 30. At the beginning of each budget year, an annual budget is established for each department. The annual budget is divided by 12 months to provide a constant monthly static budget. On June 30, all unspent budgeted monies for the budget year from the various city departments must be returned to the General Fund. Thus, if department heads fail to use their budget by year-end, they will lose it. A budget analyst prepared a chart of the difference between the monthly actual and budgeted amounts for the recent fiscal year. The chart was as follows:
- Write a memo to Stacy Collins, the city manager, interpreting the chart and suggesting improvements to the budgeting system. (at least one full paragraph please)
Actual Less Budget $35,000 30,000 25,000 20,000 Dollars 15,000 10,000 5,000 0 (5,000) July August October September November January December February May March (10,000) (15,000) April June Months
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