Tag Archives: Microsoft Excel

Tools To Simplify Budget Preparation

Some do it in September.  Some in May.  Some wait until the end of the year.  And some do it ALL YEAR LONG!  Budget Preparation.

If you are one of the many organizations that follow the US federal fiscal calendar, budget preparation is probably on the top of your mind right now. That’s because budget planning and preparation are at the heart of good expenditure management.

No matter how wonderful an organization’s budget execution is, if a poor or unrealistic budget was prepared, the organization will be faced with a myriad of problems. Additionally, budget preparation is not always as straightforward as it may seem because any variety of complicated and unforeseen expenditures can affect costs, such as:

  • Scarce revenues that leave programs competing for funding
  • Volatile expenditures such as the cost of fuel, health care, and payroll that are hard to predict for the future
  • Unforeseen events caused by severe weather such as water main breaks, floods, power outages, water contamination, and emergency response
  • Revenue and income calculations that are directly correlated to the pace of economic growth, development, and population
  • Evolving state, federal, and local laws and/or statues
  • Long term projects and other long term expenditures

Good budget preparation tools can be extremely helpful during the budgeting and expenditure planning process. Read more >

Posted in Accounting Basics, Best Practices, BMS Products, Government Accounting Standards | Tagged , , , , | Leave a comment

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