When considering a comparable increase in the budget because of the new expenditure, expenditures should be split into one-time fixed cost and _______________.

		Periodic Variable Cost
		Periodic Fixed Cost
		Recurring Cost
		One-Time Variable Cost

Capital budgets are rarely completely executed in a singular fiscal year.

True

False

State and local governments use bonds to finance projects that cannot be financed from the current revenue sources. Prior to securing any type of bond, a local government may need a ____________________.

		Bond Ratings
		Bond Procurement Consultant
		Notarized Copy of Current Revenue Sources
		Community Impact Statemen

Income is defined as all income rather than just wages. An income tax is considered to be a _________________________.

		Fixed Tax
		Adjusted Tax
		Comprehensive Tax
		Progressive Tax

large percentage of a state's revenue comes in the form of federal grants. These grants come in two major forms: __________________________ and ________________.

		Programs and Infrastructure
		One-time and Recurring
		Categorical and Block
		Services and Administrative

Revenue management is defined as the assessment and maintenance of a local governments capacity to generate sufficient funds from all available resources to support policy decisions regarding service levels. There are three general components to proactive revenue management: revenue development, revenue analysis and revenue support systems.

True

False

What model would use factors such as unemployment, population shift, and changes in the economy to predict revenue?

		Simple Linear Regression
		Multi Regression
		Variable Regression
		Vector Autoregression

Generally speaking, state and local governments initiate budget projections about nine months prior to the beginning of the next fiscal year or budget cycle.

True

False

The states play a much smaller role in controlling the swings of the economy through spending or tax and policies than the federal government, and, like the federal government, the states do not have to balance their budgets every year or biennium, regardless of economic conditions.

True

False

Calculating cost benefit analysis can be very complex since all of the factors involved in the process must be _____________________ and measurable over time.

		Consistent
		Specific
		Predictive
		Quantifiable