ADM 626 Topic 1 Module Assignment

Module 1 Assignments

Grand Canyon University : ADM 626

Part I

            A budget is simply a summary of the expenses one incurs and the revenue one brings in . Budget makes it possible for a business to determine what it can afford to do within the organization.  I will therefore discuss the budget of Greenlee County in Arizona for the fiscal year 2019-2020. First and foremost, the format used to create this budget was the program budget format. Which is believed to focus on the activities of the government and it also divides the budget data among the various program jurisdiction control (Chen et. al, 2015 )

            Three characteristics of this format are

• It is focused on the information used and the presentation .This characteristic may be found on all the pages in the budget
• It contains considerable text explaining the budget. This can also be found on pages four to eight at the bottom of each page .
• It separates the budget into programs and subprograms. This can also be found on top of every page from pages five to twenty-eight ( co.greenlee.az.us).
• I would say this budget is useful and informative because it was properly planned and managed, so I am able to tell what expenses are being wasted and which are financially beneficial to the county and the citizens . However,I know the mines (freeport McMorran copper mines) subsides and fund some of the activities in the county for example the school and the police and the fire service department but I didn’t see that in the budget. It would be useful to for the workers and most especially the city to know that the Mines compensate the county for their industrial waste and chemical that sometimes pollute the air and the entire county.

Part II

            For this part I will discuss the annual budget of Harvard University for fiscal year 2015. The format used for this budget was easy to find because it was part of the subtitle. The format used was the budget performance format. It is characterized by the following:

• It uses performance information in creation of budget estimate . This could be found on page 12 .
• This format helps to achieve the efficiency and effectiveness with any establishment. This could also be found in all the fifty-one pages on the budget .
• It contains performance data the reflect the past and suggest the future performance . This is found on pages twenty-two to fifty-one .

This budget was well planned,and the information presented as self-explanatory therefore any individual who ahs little knowledge of budget would easily understand. The budget covered everything that university budget should contain so I did not see any missing information in the budget. It was a well planned and managed budget . You can never go wrong with Harvard .Anything that contains the name Harvard is perfect (Harvard.edu).

Part III

            For this part I will compare the budget of my city which is Greenlee county and that of my classmate , Monique- Mingle Taylor which is the budget for the State of Illinois for year 2020. Greenlee county is a small county so of course, their county is small as compared to that of the State of Illinois .The format used for the Greenlee county budget was program budget format. Whereas the Illinois budget used all the three budget formats in other to get a well-planned budget because of the nature of the budget.

            Both budgets were all  well-planned and managed however since I am familiar with my county’s affairs, I can see some missing information in the budget other than that it contained all the information that every county budget should have.

References

The Illinois State Budget Fiscal Year 2020 . Retrieved from https://www2.illinois.gov/sites/budget/Documents/Budget%20Book/FY2020-Budget-Book/Fiscal-Year-2020-Operating-Budget-Book.pdf

Harvard issues annual financial report (2015) Retrieved from https://www.harvard.edu/media-relations/harvard-issues-annual-financial-report

Greenlee County Budgets . Retrieved from https://www.co.greenlee.az.us/resources/budgets/

Chen, G, Weikart, L., & Williams, D. (2015) Budget tools: Financial methods in the public sector. Thousands Oaks, CA : SAGE Publication, ISBN- 13:9781483307701 Retrieved from chttps://www.gcumedia.com/digital-resources/sage/2014/budget-tools_financial-methods-in-the-public-sector_2e.php