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Budgeting 101 - Presented by MGFOA Sandy Pooler Tony Torrisi Al Tosti

Budgeting 101 - Presented by MGFOA Sandy Pooler Tony Torrisi Al Tosti. Massachusetts Municipal Association Annual Conference January 2011. What we are trying to avoid. Getting Started - Tony Torrisi September through December. Timetable/Budget Calendar Budget Development/Recommendations

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Budgeting 101 - Presented by MGFOA Sandy Pooler Tony Torrisi Al Tosti

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  1. Budgeting 101 - Presented by MGFOASandy Pooler Tony Torrisi Al Tosti Massachusetts Municipal Association Annual Conference January 2011

  2. What we are trying to avoid

  3. Getting Started - Tony TorrisiSeptember through December • Timetable/Budget Calendar • Budget Development/Recommendations • Departmental Expenditure Budgets • Fixed Costs Expenditure Budgets • Non-Town Meeting Expenditure Budgets • Short and Long-term Capital Budgets

  4. Review and Passage – Al TostiJanuary through June • Revenue forecasting • Responsibility • State Aid • Local Revenues • Budget Review • Final Adopted Budget • Selectmen, Fin. Com., Council • Setting the Tax Rate • Town Meeting or City Council • Must balance!

  5. Budget Monitoring – Sandy Pooler • Expenditure Status Reports • Overtime • Snow and Ice • SPED • Health Insurance

  6. Types of Revenue

  7. End of Year – Sandy Pooler • Closing the books • Free Cash • Deficits • SPED • Snow and Ice • Capital Spending • Policies • Annual Audit • Audit Committee? • Management letter

  8. Good luck in FY12!

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