You are to prepare for a challenging City Council Meeting. You need to be able to give the other council members and mayor an accurate “city of affairs” to make sure significant cuts can be made in the appropriate areas, and other critical areas can continue to be funded. Using the City of Huntsville 2015-2016 budgets, analyze the financial plan to respond to the following questions in a two- to three-page paper:
- Based on the review of the City of Huntsville’s Financial Plan: What is the fastest-growing category of expenditures during the planning period? Justify the answer with examples.
- What percentage of the City of Huntsville’s revenue comes from the general property tax? How much is this tax growing in each year of the financial plan? Justify the answer with examples.
- Evaluate the existing capacity of refunding or reorganizing existing debt organizations.
- Analyze the various funding alternatives that can be used to support debt obligations.
The assignment must follow these formatting requirements:
- Include an abstract and conclusion that you will name (Budget Summary), and attach the budget summary as an Appendix.
- Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA.
Budget monitoring is necessary to make sure that businesses and organizations do not experience net loss and that operational expenses do not exceed the projected revenue for the budget period. Budgeting protects the resources in a company and ensures that funds are properly accounted for and used for their initial intention.
- What are some examples of vulnerable asset areas that pose risk for companies?
- Do these areas vary by company or industry? Why?
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