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CASH MANAGEMENT The Collection & Disbursement of Public Funds

Controlling Cash Collection & Disbursement Dual responsibility Receipts maintained in a location separate from cash & checks Certification of vouchers. Managing Cash Balances Safety Liquidity Maximize pool of funds available for investment Concentration Accounts Zero-balance accounts

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CASH MANAGEMENT The Collection & Disbursement of Public Funds

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  1. Controlling Cash Collection & Disbursement Dual responsibility Receipts maintained in a location separate from cash & checks Certification of vouchers Managing Cash Balances Safety Liquidity Maximize pool of funds available for investment Concentration Accounts Zero-balance accounts Highest yield CASH MANAGEMENTThe Collection & Disbursement of Public Funds

  2. LOGIC OF THE BUDGET PROCESS A Budget Is Merely a Spending Plan Traditional Budgets focus on OE Functions of Traditional Budget The Budget Cycle Execution The Incrementalist Insight

  3. Functions of Traditional Budget • Fiscal Discipline and Control • Restraining expenditure • Insuring that budgets are executed as enacted • Note TREASURY role (performed by Audit Office in Georgia) • Post audit vs. preaudit: purpose, execution • Audit trail -- invoices, receipts, cancelled checks • Provide information used in formulation of new budgets • Management, efficiency, & planning for service requirements

  4. The Budget Cycle • Executive Preparation • Budget Guidance/Call for estimates • Preliminary Estimates • Consolidation • Legislative consideration & enactment • Execution • Post-audit & evaluation

  5. Execution • Budget Authority (specifies by agency, timing, and account code the authority to spend) • Obligations (enforced by anti-deficiency act) • Inventory recorded • Outlay • Expense or Cost

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