Research and review your local (city) government budget (e.g., Oklahoma City). To locate your agency’s budget for the 2014-2015 year or the most current budget. You can either conduct a Google search on the word (“Oklahoma City Financial Plan”) or you can locate the information on the local government’s Website. Be prepared to discuss. •Review the State of Michigan Executive Budget for 2015. Then go to the Website for the State of Michigan Office of the Budget located at http://www.michigan.gov/budget. Navigate to the menu on the left. Click on “Budget Process” and “Financial Reports” to review the process of budgeting and the reports used and developed in the budgeting process. Be prepared to discuss. Week 3 Discussion 1 Collapse

Total views: 8 (Your views: 5) Overall Rating:12345Your Rating:12345. “Preparing the Operating Budget” Please respond to the following:

•From the e-Activities, discuss two (2) differences between Michigan’s budget and your state budget in terms of budget process, financial reporting, and costs analysis (fixed costs, step-fixed costs, and variable costs). Justify your response with examples. •Discuss the pros and cons of forecasting over a five to ten (5-10) year period. Justify your response with examples.

“The Budget” Please respond to the following:

•From the first e-Activity, discuss four (4) governmental expenditures that you believe will have a significant impact on your local economy over the next year. Justify your response with examples •Discuss two to three (2-3) challenges an administrator may face when developing and reviewing proposals for budget cuts.

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