14 budgeting Flashcards
base budget vs supplemental
base is level funding req to maintain all services at current levels, supplemental is increases beyond the base level
petty cash used to purchase items less than and what kind of fund is it not
100, endless
when is requisitions used and what does it req
large purchases that exceed predetermined amount and req a bidding process
what is developed for larger complex purchases
request for proposal (rfp)
general vs specific requirements
bids req specific, while rfp req general
the budget format should comply with the recommendations of
gov accounting standards board )gaspb)
expenditures fall into three categories
personnel
OPERATING
capital
personnel expenditures accounts for
more than 90 percent of budget
operating expenses covers
uniforms, protective clothing, apparatus maint, etc…also mandatory training
capital expenditures consist of
cost more than a pre determined amount and will last longer than one budget year
bonds repaid over
10-30 years
the capital budget summary shows
first year capital expenditures to start a program
