--%>
Assignment Help - homework help

Explain Budget Cycle

Budget Cycle: The time period needed to made a state financial plan and enacts that part of it applying to the budget year. The Significant events in the cycle comprise:

• The preparation of Governor's proposed budget (generally prepared between July 1st and January 10)

• Compliance of the Governor's Budget and Budget Bill to the Legislature (by January 10)

• Submission to the Legislature of planned adjustments to the Governor’s Budget

(i) April 1 - adjustments except Capital Outlay and May Revision
(ii) May 1 - Capital expend appropriation adjustments
(iii) May 14 - May Revision adjustments for modifications in General Fund revenues, essential expenditure reductions to reflect the updated revenue, and funding for Proposition 98, caseload, and population.

• Revision and Review of the Governor's Budget by the Legislature

• Return of the revised budget to the Governor by June 15, as requisite by the California Constitution, for signature after any line-item vetoes

• Sign in the budget by the Governor.

   Related Questions in Finance Basics

  • Q : Explain Plan of Financial Adjustment

    Plan of Financial Adjustment (PFA): This is the plan proposed by a department, accepted by the Department of Finance, and acknowledged by the State Controller's Office (SCO), to allow the SCO to assign costs paid from one item to one

    		•
  • Q : Determine sizes of the MPC- the MPS and

    Normal 0 false false

  • Q : What is Indirect Costs Indirect Costs :

    Indirect Costs: The costs which by their nature can’t be readily related with a particular organization unit or program. Similar to general administrative expenses, indirect costs are dispersed to the organizational unit(s) or programs that bene

    		•
  • Q : Fin 335 International finance 1. The

    1. The exchange rate is 1.22 Swiss francs per U.S. dollar. How many U.S. dollars are needed to purchase 1,500 Swiss francs? [$1,229.51] 2. You are planning an extended trip to Hong Kong. You have located some housing

    		•
  • Q : Explain Unscheduled Reimbursements

    Unscheduled Reimbursements: The Reimbursements collected by an agency which were not budgeted and are accounted for by an individual reimbursement class of an appropriation. To expend unscheduled reimbursements, the budget revision sh

    		•
  • Q : Why do businesses spend efforts to

    Why do businesses spend effort, time and money to generate forecasts?  Describe.Businesses succeed or fail based on how well prepared they are to deal along with the situations they confront in the future. Hence they expend considerable sum

    		•
  • Q : What is in store for banking

    What is in store for banking consolidation? Merger activity is a natural procedure by which companies make themselves more efficient and better capable to compete for customers. The banking industry is no exception

    		•
  • Q : Better risk measure in evaluating risk

    Why is the coefficient of variation a better risk measure to employ than the standard deviation while evaluating the risk of capital budgeting projects? The coefficient of variation is a better risk measure than the standard deviation alone sinc

    		•
  • Q : What are Authorized Positions

    Authorized Positions: As replicated in the Governor’s Budget (Expenditures by Category and modifications in Authorized Positions), corresponds with the “Total, Authorized Positions” illustrated in the Wages and Salaries.

    		•
  • Q : Mascot Simulation Simulation with

    Simulation with Crystal Ball Provided Workbook: Mascot Simulation Relevant Readings:"Discounted Cash Flow Modeling" folder + Text

    		•