Week 5

Question 1

What is a budget?

Answer 1

An estimate, often itemized, of expected income and expense for a given period in the future.

Question 2

What is budget development?

Answer 2

Determining the resources necessary to meet operational objectives as they relate to the elements, objectives and department’s business plan.

Question 3

The monitoring of financial resources to ensure that objectives are met in an efficient and concise manner:

Answer 3

Budget Management

Question 4

What are three critical revenue shortfalls?

Answer 4

Income Taxes
Sales Taxes
Property Taxes

Question 5

____________ is/are NOT a tactic to gain concessions from government employees.

Answer 5

Pay Increases

Question 6

How many Quarters are there in a fiscal year?

Answer 6

4

Question 7

The period of time from October 1st to September 30th is__________.

Answer 7

Fiscal Year

Question 8

A Fiscal year consists of ____ months.

Answer 8

12

Question 9

How many hours a year are used to budget one full time position?

Answer 9

2080

Question 10

In a business structure, in which employees are paid bi-weekly, how many pay periods are there in a year?

Answer 10

26

Question 11

The primary mission of these programs is to employ asset forfeiture powers in a manner that _________ public safety and security.

Answer 11

Enhances

Question 12

Rule of thumb, involving forfeiture funds, when working with other agencies:

Answer 12

1. Funding is usually distributed based on level of participation
2. Usually distributed by the lead agency

Question 13

“Developmental Impact Fees” funding can be used to subsidize normal operating funds. T or F?

Answer 13

False.

Question 14

FICA stands for what?

Answer 14

Federal Insurance Contributions Act

Question 15

A “base” budget request is a _______.

Answer 15

Need

Question 16

The cost for a brand new battle tank is an allowable increase in a “base” budget request. T or F?

Answer 16

False

Question 17

The “Enhanced” Budget Request is a ________. The amount of funding required to perform services ___________________ the current levels.

Answer 17

Wants

Above and beyond

Question 18

When preparing your budget justifications you should?

Answer 18

Keep it simple and concise

Question 19

Employment ads are a source for budget justifications. T or F?

Answer 19

False.

Question 20

A logical method of calculating trends in order to determine the success or failure of an organization’s financial goals and objectives is:

Answer 20

Financial Projections

Question 21

The savings from unfilled budgeted positions is:

Answer 21

Attrition

Question 22

What is an encumbrance?

Answer 22

Check you have mailed out, but the company hasn’t cashed.

Question 23

In regards to Financial Projections, what would you look for in the second and third quarter?

Answer 23

Spot Trends (2nd Quarter)
Make Adjustments (3rd Quarter)

Question 24

How do you determine the remaining balance of your budget?

Answer 24

Budget - Actual - Encumberance

Question 25

In Microsoft Excel, what is the "*" used for?

Answer 25

Multiplication

Question 26

In Microsoft Excel, what is the "/" used for?

Answer 26

Division

Question 27

If the First Quarter of the fiscal year consisted of 6 pay periods and you spent $71,250 in that quarter, what your annual rejected overtime be?

Answer 27

$308,750

Question 28

There are no justifiable reasons that a department can go over budget. T or F?

Answer 28

False.

Question 29

What's are the questions asked in the "Budget Processing Re-engineering?"

Answer 29

What are we doing? How do we do it? Why are we doing it that way?

Question 30

SMART performance measures are:

Answer 30

``` Specific Measurable Attainable Relevant Time Based ```

Question 31

In SMART, which question relates to the "Specific" step?

Answer 31

What are you trying to achieve?

Question 32

In SMART performance measures, which question relates to the "Attainable" step?

Answer 32

Is goal realistic?

Question 33

Budget is all about numbers. T or F?

Answer 33

False.

Question 34

Purpose of forfeiture program?

Answer 34

Punish, deter and disempower criminals of any assets gained through criminal activity. (All of the above)

Question 35

Forfeiture is government taking __________ of property.

Answer 35

Ownership

Question 36

Asset Forfeiture Coordinators job is assuring _________________ are met.

Answer 36

Goals and Objectives | Answer D. Both a and c

Question 37

Civil forfeiture is an action against an __________.

Answer 37

Asset.

Question 38

The _______ in an Asset Forfeiture Unit examines information.

Answer 38

Analyst

Question 39

The Asset Forfeiture Unit Manual should comply with:

Answer 39

National Code of Professional Conduct of Asset Forfeiture

Question 40

Real property must be forfeited by:

Answer 40

Judicial Process

Question 41

Accounting procedures include:

Answer 41

Booking procedures and internal controls Reporting and audit requirements Answer: D. Both a and b.

Question 42

Asset Forfeiture management staff is responsible for:

Answer 42

Management functions within the unit.

Question 43

Intent of pre-seizure management:

Answer 43

Law Enforcement Tool