--%>
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 : Define Senate Senate : The higher house

    Senate: The higher house of California’s Legislature comprising of 40 members. As an outcome of Proposition 140 (that is, 1990, term limits) and Proposition 28 (that is, 2012, limits on Legislators’ terms in office), members chosen in or a

    		•
  • Q : International Business and Finance

    Alpha and Beta Companies can borrow at the described rates. Alpha Beta Moody's credit rating Aa Baa Fixed-rate borrowing cost 10.5% 12.0% Floating-rate borrow

    		•
  • Q : What is Proposition 98 Proposition 98 :

    Proposition 98: An initiative passed in the year November 1988, and amended in the year June 1990 election, which provides a minimum funding guarantee for school districts, community college districts, and other state agencies which give direct elemen

    		•
  • Q : What is Final Budget Final Budget :

    Final Budget: Usually refers to the Governor’s Budget as amended by actions taken on the Budget Bill (example, legislative changes, and Governor’s vetoes). Note

    		•
  • Q : Analysis on Financial Manangement

    Questions 1: (1) Your coin collection contains 40 1957 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2040, assuming they appreciate at a 10 percent annual rate? <

    		•
  • Q : Summer Co. is expected to pay a

    Summer Co. is expected to pay a dividend or $4.00 per share out of earnings of $7.50 per share. If the required rate of return on the stock is 15% and dividends are growing at a current rate of 10% per year, calculate the present value of the growth opportunity for the stock (PVGO)

    		•
  • Q : Define Final Budget Summary Final

    Final Budget Summary: A document generated by the Department of Finance subsequent to enactment of the Budget Act that reflects the Budget Act, any vetoes to the language and/or appropriations, technical corrections to the Budget Act, and summing up t

    		•
  • Q : What is an Element Element : It is a

    Element: It is a subdivision of a budgetary program and the second stage of the program structure in the Uniform Codes Manual.

    		•
  • Q : What is Feasibility Study Report

    Feasibility Study Report (FSR): This is a document proposing an information technology project which contains analyses of options, cost estimates, and some other information.

    		•
  • Q : Describe Reappropriation

    Reappropriation: The expansion of an appropriation’s accessibility for encumbrance and/or expenses beyond its set annihilation date and/or for a new point. Re-appropriations are usually authorized by statute for 1-year at a time however might be

    		•