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State-local Budgeting vs. Federal Budgeting

State-local Budgeting vs. Federal Budgeting. Balanced budget; revenue estimates Powers of major players—chief execs vs. Legislators Supplemental budgets O&M budgets and capital budgets. State-local Budgeting vs. Federal Budgeting. Time line—tighter at state & local level—effects Mandates

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State-local Budgeting vs. Federal Budgeting

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  1. State-local Budgeting vs. Federal Budgeting Balanced budget; revenue estimates Powers of major players—chief execs vs. Legislators Supplemental budgets O&M budgets and capital budgets

  2. State-local Budgeting vs. Federal Budgeting • Time line—tighter at state & local level—effects • Mandates • Outside funds: grants and their strings • Dedicated revenues • Revenues more fixed—property tax; sales tax; low graduation on income tax

  3. STATE OF GEORGIA BUDGET PROCESS • Spring-Summer 2007 Agencies, OPB working on agency requests for FY09 • July 1, 2007 FY08 begins; quarterly allotment of funds • Sep 1, 2007 Agency requests for FY09 due at OPB • Sep-Nov 2007 OPB review of agency requests • Oct-Nov 2007 OPB briefings with Governor • Nov-Dec 2007 Governor meets with agency heads • Early Dec 2007 Revenue estimate for FY09 is finalized • Late Dec 2007 Budget Report FY09 printed • Early Jan 2008 Budget Report FY09 submitted to General Assembly • Proposed Supplemental Budget FY08 submitted • Mid Jan 2008 Joint Appropriations Committee hearings • Late Jan-April 2008 Legislative action; supplemental budget appropriations bill passed; FY09 appropriations bill passed • April-May 2008 Governor exercises line-item veto; Agencies submit annual operating budgets for FY09; Agencies begin work on FY10 budget requests • July 1, 2008 FY09 begins; quarterly allotment of funds to agencies

  4. LOCAL BUDGET PROCESS (IDEALIZED)with July FY APPROX. TIME___ EVENT • January Preparation of revenue estimates by Finance/CBO/chief executive • early Feb. Budget letter by chief exec/CBO to agencies • Feb-March Agencies prepare current services estimates and service improvements estimates • early March Return of completed budget request forms to chief exec/CBO • March-April Budget conferences between chief exec/CBO and agencies • April Final recommendations made to chief exec • late April Preparation of budget document • early May Submission of budget to legislative body • May-June Legislature holds public hearings • June Final action by legislative body • June Executive approval or veto of adoption budget • late June Administrative actions needed to implement appropriations and allotments, made by Finance/CBO/chief exec • July 1 Beginning of fiscal year and of allotments to agencies • July-June Budget execution by agency • July-June Monitoring of expenditures by agency and CBO/chief exec • on-going audit/evaluation Note: some local gov’ts use January-December fiscal year

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