2. Definition
An operating budget is the annual budget of an
activity stated in terms of Budget Classification
Code, functional/subfunctional categories and cost
accounts. It contains estimates of the total value of
resources required for the performance of the
operation including reimbursable work or services
for others. It also includes estimates of workload in
terms of total work units identified by cost accounts.
Wikipedia
3. Definition
Sincean operating budget is a short term
budget, capital outlays are excluded because
they are long-term costs.
Business Dictionary
4. Purpose
Provide a forecast of revenues and
expenditures i.e. construct a model of how
your organization might perform financially
speaking if certain strategies, events and
plans are carried out.
Enable the actual financial operation of the
business to be measured against the
forecast.
en.wikipedia.org
6. Line-item budget
Budget typically used by governmental entities in
which budgeted financial statement elements are
grouped by administrative entities and object. These
budget item groups are usually presented in an
incremental fashion that is in comparison to
previous periods. Line item budgets are used also in
private industry for the comparison and budgeting of
selected object groups and their previous and future
estimated expenditure levels within an organization.
Answers.com
8. Program Budget
Planning-oriented approach to developing a
program budget. A program budget is a budget in
which expenditures are based primarily on programs
of work and secondarily on character and object. It
is a transitional type of budget between the
traditional character and object budget, on the one
hand, and the performance budget on the other. The
major contribution of PPBS lies in the planning
process, i.e., the process of making program policy
decisions that lead to a specific budget and specific
multi-year plans.
Answers.com
9.
10. Performance Budget
Medium- to short-range budget used in
governmental accounting. It is typical of the
type incorporated by a Program Planning-
Budgeting System (PPBS) but without
references to long range goals.
Answers.com
11.
12. Zero-based Budget
Zero based budgeting derives from the idea
that such budgets are developed from a zero
base; that is, at the beginning of the budget
process, all budget accounts have a value of
ZERO. This is in sharp contrast to the
incremental budgeting system where
generally a new budget tends to start with a
balance at least equal to last year's total
balance, or an estimate of it.
Wiki.answers.com
13. Operating Budget Summary
County Operating Funds
Available Funding
Fund Balance Used
Cancellation of Prior Years Reserves
Additional Financing Sources
Financing Requirements
Financing Uses
Provisions for Reserves
20. Procedure
Identify major revenue sources
Contracts
Fees
Estimate amounts of revenue
Base contract costs and revenue received for work done
Identify expenses
(Contract Financial Plan based on staff and other costs)
Personnel Hours and Salary
Benefits
Overhead
Supplies
Mileage
21.
22. Compilation of Program Budgets
Program 1 Program 2 Program 3 Total
Personnel
Employee 1
Employee 2
Other Direct Costs
Travel
Supplies
Professional
Services
Indirect Costs
(Overhead)
23. Adopted Current Proposed
Budget Budget Actuals Projected Budget
Account Description FY 08/09 FY 08/09 12/31/08 FY 08/09 FY 09/10
REVENUE
441530 STATE AGRICULTURE $2,700 $2,700 $2,700 $2,700
Weighmaster
W&M petroleum
Sub-Total Class 4 $2,700 $2,700 $2,700 $2,700 $0
445205 CIWMB - CA INT. WASTE MGMTBD $0
446160 FED CDBG
449000 OTHER GOVERNMENT AGENCIES $0
453630 WEIGHTS/MEAS INSPECT FEE $85,000 $85,000 $2,657 $85,148
Inspection Fee
Device Registration
NSAQMD - Vapor Recovery
455030 NSF CHECK COLLECTIONS
Sub-Total Class 5 $85,000 $85,000 $2,657 $85,148 $0
462000 OTHER REVENUES $0
GENERAL FUND - AGRICULTURE $0 $21,477
FUND BALANCE USAGE
