Chittenden County Regional Planning Commission is a Metropolitan organization doing most of its activities within Vermont in the USA. The team has become of great assistance for the residents of Vermont, hence making the county densely populated. It was formed in 1966 to help in the bilateral linkages with the various municipalities to promote the Conservancy of the human resources. It joined the nineteenth comrade municipalities. CCRPC consists of 19 municipal commissioners that include agents involved in Agriculture, Environment, Housing and Transportation (“Home – CCRPC”, 2016). The Statute-making municipalities make their decision aimed at electing their commissioner and another substitute commissioner and that the entire commission nominates the five at-large agents.
Review of the Budgetary Process of CCRPC
The budget review process helps the managers in the appraisal of performance, determination opportuneness, solving of variances and also in comparing actual and planned performance. The financial year of 2016 was adopted by the fiscal year of 2015. The mid-year of 2015 included different variables that were deviating from the 2-016 period (“Home – CCRPC”, 2016) compared to the other financial years of 2014 and 2013. The differences in the variances from the other terms tend to be a certain variation. However, as the periods change, CCRPC is involved in different activities that make the variables change adversely. For instance, between the 2016 and the adopted variables for 2015 there were the following changes that would make the budgetary plan affected in one way:
Comparing both the 2015 and the approved 2016 financial year, there was a variation in the Local/Town Dues being at $ 64,007 and $ 57,794 (“Home – CCRPC”, 2016). Thus, there was a difference of $ 6,213(-9.71%). It means that there were deductions for the overall dues. Then, on the issue of the Municipal Assistance $ 22,905 for the financial year 2015 and $ 33,600 for the adopted budget year 2016 the Municipal Assistance increased by $ 10,695 (46.69%) showing some growth in the cost advantages of the metropolis. The variations differ from one year to the other period. The Municipal/Regional Staff for 2015 was $ 455,637 yet for the adopted financial year 2016 was $ 460,120 showing a $ 4,483 (0.98%) variation in the totals for the two-period tenure.
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For the Transportation sector, there was the issue of the Federal Highway Administration (FHWA) having acquired some big differences in the expenses attained. The FHWA had an increase in the MPO Staff Funding (1.4%), Local Match Staff (2.86%), and Regionally Matched Consultant (5.77%). Within Transportation account, there were reductions in the Transport Management Services (-45.74%), TCSP Grants were no longer realized in the adopted financial year 2016 (K?hler-T?glhofer & Zagler, 2007). Real Time Traffic as a new factor of obtaining incomes for the county was realized ($67,712). Corridor Management Plans and Capital Building experienced a reduction (from $ 6,362 up to $ 1,631 resulting to -74.35%), Byway Publications reduced (-58.91%). The amount collected from the Island bike rest areas reduced from 2015 to the adopted financial year 2016, meaning the number of bike rests reduced though there was an increase in the general bike rests both the Islands and the Chittenden Bike rests had a 6.43%. Interpretive planning reduced in the adopted financial year 2016. There was an increase in the amount available in the adopted financial year 2016 regarding the Transportation sector. More effort was put on the Transport meaning that there was a general rise on the need of transport in the county.
Description of Capital and Operating Budgets
The capital budgets for CCRPC can be what the CCRPS buys regarding the assets that can be erected to gain the possible revenue for the next financial year. The capital budget therein involves the relevant projections and the values given at the new periods and the past year 2015 (Arcalean, 2007). The operating budget involves the budget for which the County plans the revenues necessary for the daily running of the County. The operating budget for the CCRPC involves the daily performance that helps the County activities to be live and always active departments in place.
Overview of the Capital and the Operating Expenses
The operating expenses have been reflected within the Income Statement. The operating expenses for the financial year 2015 included the Operations Support Expenses ($ 2,151,595) in total. The operating expenses include expenses for rents ($ 3,500) change, audit/accounting ($ 950), Equipment and Software Maintenance ($ 2,000), a reduction of the Equipment Purchase ($ 4,000), Insurance ($ 3,000), and Internal Consultants ($ 14,000).
Overview of the Revenue Sources
CCRPC sources of income include Rental Incomes ($ 1,680), Interest Income ($ 400), and Champlain Valley National Heritage-LCBP ($ 2,000). Real Time Traffic ($ 67,712) not realized in the year 2015 but later realized in the adopted financial year 2016, Island and Chittenden Bike rest areas both in 2015 and in 2016. Regionally Matched Consultant increased from $ 35,998 to $ 38,075 hence, revenue of $ 2,077 in consultancy.
Shortcomings of the Budget Development, Approval and Implementation
Lack of the Necessary Budgetary Data
The budgetary preparation requires the data to help in the proper dealings and the desire for accountability. Hence, the last year’s data is relevant in the future projections. Missing the data would lead to poor data analysis. The budget development requires a lot of time in development (Arcalean, Glomm, Schiopu, & Suedekum, 2010). Hence, it becomes time-consuming and thus demands a lot of resources. In its process of development, it requires personnel in the unanimous setting of the necessary pre-conditions in the budgeting process. In the case of lack of the budgeting software and programs then the budgeting process is bound to take a very long time. The budget procedure requires a lot of manual work that makes the process time-consuming.
Weak forecast by the paper panel in that there can be the oversight problem that would result in the slack budgetary issues. The strategy is not desirable because it aims at only looking into the profitability of some executives within a given workforce leading to unprofessional behavior. The result of the challenge is because of some stakeholders. Blame effects result in that underestimation of certain amounts for some departments may be biased. Hence, blame games begin, and the implementation process becomes tough to attain and thus committee fails. Moreover, the departments with underestimated finances halt their aims.
Poor Choice of the Budgetary Panel
Some of the employees of the budgetary panel may have poor knowledge of the development of the budget. The whole budgetary process requires a lot of commitment and unwavering will to ensure its completion up to the last minute. Time would be wasted in an attempt of achieving the goals aimed at the implementation. Hence, the gestation period is delayed.
Set of Goals
It becomes a concern in the way goals and objectives should be achieved. The creation of goals and objectives helps in the process of ensuring that the budget would be completed right on time and the need to continue with the implementation process (Arcalean, Glomm, Schiopu, & Suedekum, 2010). Goals and objectives are the guiding principles that help in providing the targets needed in the implementation of the budget. Normally, the necessity of creating goals and objectives helps in foreseeing the future projections.
Link Between the Investment and Results
It is always the failure of the linkage between the financial investment and the results of the budgetary process. The poor link leads to the inability of the performance of the budgetary development and the implementation process and as a result the emergence of incomplete analysis.
Level of the Amount of the Resources Used
The organization may have insufficient funds during the budgetary process (Gripper, 1994). The problem is that the available resources are not compatible with the mode required within the process. Lack of resources tampers with the whole budgetary process.
There is a need to use the available Constitution within the given institution. The proper inclusion of the necessary practices ensuring that the process flows well becomes of greater importance without the need of straining much (“Guidelines for Public Expenditure Management–Section 3–Budget Preparation”, 2016). In the institution with the poor and incomprehensive constitution, flaws during the budgetary process might arise. Statute requirements deserve proper concern to implement the county’s budgetary process. Conflicts may come up in case the law requirements are not in the right direction with the expectations from the whole organization.
Dealing with the Uncertainties
Difficulties arise as a result of either the greater expectations or in case there might be problems with the budgetary process. The approval might lack the proper backing from some stakeholders that may affect the budgetary process (Burke & Tapping, 1995). High versus low expectations creates the idea of what is yet to come and may end up in disappointments.
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Recommendations to Improve the Budget Document
The whole budgetary process requires lots and lots of concern when it comes to the way the document states within the brackets of the examination. At times, it becomes of greater assistance when the budgetary allocations are made based on the available and the prior financial year sources of information (Gripper, 1994). The stakeholders available would be considered into the follow-up, and thus, the budgetary process would contain the necessary commands and the needs that the budget requires.
Identification of the available partners’ needs and the important priorities: Establish the necessary broader expectations for the institution with the aim of making its goals. When the goals are made properly, then it means that the given concerns would be addressed with the right decisions achieved in the achievement of the whole budgetary process (“Guidelines for Public Expenditure Management–Section 3–Budget Preparation”, 2016). The given institution should be able to know about the involvement of the stakeholders and their needs and points of interest. The identification of what the stakeholders want would help in the ability to identify the issues that are of concern to them. The result of the strategy would assist in the development and the formation processes of the budget.
Assessment of the Capital Assets
The evaluation of the capital assets helps towards the maintenance and the factors towards the future maintenance of the property. Attention should be made in the maintenance, service quality and the costs.
The strategic planning of the document includes the proper link of the process and the objectives therein to achieve (“Guidelines for Public Expenditure Management–Section 3–Budget Preparation”, 2016). The strategic plan is aimed to create the proper future expectations and thus, help in the shaping of the institution and enabling proper directional efforts towards the process linkages and the necessary focus required.
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Identification of the Required Stakeholders
The budgetary process helps in the general way at which the beneficiaries of the process will achieve. For instance, Chittenden County would come up with the desired knowledge of the necessary stakeholders with their priorities and the needs (Gripper, 1994). The method of identification helps in the know-how of the budgetary process in an attempt of knowing what the stakeholders want. In the view of the CCRPC, it becomes of importance that the stakeholders are well motivated towards the formation of the budget in a very elegant way.
The External Factors
The external factors affecting an individual society is imperative that the budgetary process would be safer. The so-called liberals of the society would be able to give out what ails them in the county (Potrafke, 2010). Hence, the whole budget document would face the best ways of execution, and the implementation becomes more central to the free analysis from the stakeholders. For example, the labor market analyzes and the necessary legislations required.
Conclusion of the Budget Process
In conclusion, it becomes a greater achievement in the way the expenditure within the budget is allocated. What each department uses should differ slightly or greatly depending on the amount of the uses of money that they have. Moreover, what each department has in mind should be achievable, and the desired goals should be accounted, whether there was a failure or not, it becomes of age that each penny is to be accounted. It becomes of greater help that budgeting is beyond the general ledger. Understanding more of the budget process involves the various ways of the inclusion of proper insight in the analysis of the process comprehensively. Adaptive planning helps to maintain the proper collection of the necessary information in blocking any of the loopholes that may erupt due to the budgetary process.