Government Administrator — Financial Management & Budgeting
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What you'll learn:
Understanding the Basics - **Description:** This day provides a foundational understanding of government finance. Learn about the role of government in the economy, different levels of government (federal, state, local), and their respective financial responsibilities. Understand the sources of government revenue (taxes, fees, grants) and the major areas of government expenditure (public services, infrastructure, etc.). - **Resources/Activities:** - **Expected Outcomes:** Understand the basic principles of government finance, identify the main sources of revenue and expenditure, and gain familiarity with key terminology.
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What you'll learn:
Unpacking the Funding Sources - **Description:** Dive deeper into the various types of government revenue. Learn about different types of taxes (income, property, sales), fees (licenses, permits), and intergovernmental transfers (grants). Understand the advantages and disadvantages of each revenue source. Explore the concept of tax incidence and tax burden. - **Resources/Activities:** - **Expected Outcomes:** Identify and understand the various sources of government revenue, understand the characteristics of different tax types, and gain a basic understanding of tax incidence.
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What you'll learn:
The Budget Cycle and Budget Formats - **Description:** Introduce the budget cycle and its key stages: budget preparation, legislative approval, budget execution, and audit. Learn about different budget formats, such as line-item budgeting, performance-based budgeting, and program budgeting. Explore the advantages and disadvantages of each format. - **Resources/Activities:** - **Expected Outcomes:** Understand the budget cycle and its stages, and gain familiarity with different budget formats.
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Planning for the Future - **Description:** Learn about the process of budget preparation, including revenue forecasting and expenditure planning. Explore common forecasting techniques, such as trend analysis and regression analysis. Understand the importance of accurate forecasting for financial stability. Introduce the concept of zero-based budgeting. - **Resources/Activities:** - **Expected Outcomes:** Understand the process of budget preparation, learn basic forecasting techniques, and appreciate the importance of accurate forecasting.
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Managing the Money - **Description:** Explore the process of budget execution and control. Learn about the roles and responsibilities of different government departments in managing the budget. Understand the importance of internal controls and financial reporting. Explore the concept of budget variance analysis. - **Resources/Activities:** - **Expected Outcomes:** Understand the process of budget execution and control, learn about internal controls, and understand the basics of budget variance analysis.
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What you'll learn:
Spreadsheets & Software - **Description:** Introduce basic financial management tools commonly used in government. This focuses primarily on Microsoft Excel (or Google Sheets) for budgeting and data analysis. Cover essential functions such as formulas, charts, and pivot tables. Explore some basic governmental finance software (simplified overview). - **Resources/Activities:** - **Expected Outcomes:** Gain basic proficiency in using Excel (or Sheets) for financial management tasks, and understand the purpose of basic governmental software.
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What you'll learn:
Ensuring Integrity - **Description:** Discuss the importance of ethics and accountability in government finance. Learn about the role of oversight bodies and the consequences of financial mismanagement. Understand the importance of transparency and public access to financial information. - **Resources/Activities:** - **Expected Outcomes:** Understand the importance of ethics and accountability, appreciate the role of oversight bodies, and recognize the need for transparency in government finance.
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