Budgets Essays

Budgets in Higher Education

In higher education institutions, best budgeting practices involves the use of proper and excellent coordination of master plan which establishes all the priorities which have to be undertaken in the institution. This ensures that all the higher education institutions attend to their respective economic and educational goals. The institutions need to have in place excellent and sufficient infrastructure. In depth periodic facilities audits should be done so as to ensure that the facilities are well and adequate. There should be…

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Zero Based Budgeting

As the zero-based budget consultant for Windsor Memorial Hospital I will make recommendations to the Board of Directors on how to create a solid plan to reduce costs and increase productivity. This will be a team based solution. In order to sustain the plan for years to come, it will require continued effort and a commitment from all current and future employees. Zero-based budgeting is one of the most efficient ways to allocate resources. One of the main reasons people…

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Budgets

There are certain elements that are to be considered in studying and defining the budget, especially in the field of public administration. These elements include economic, political, and ideological concerns that affect the processes budget goes through. A fourth element that defines budget is societal concerns, which proves to be an important factor for the success of the budget. The budget is said to be economic such that it paints a picture where there is a supply and demand. The…

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Traditional Budgeting System

Wildavsky (1978, p. 502) mentions that “traditional budgeting is annual (repeated yearly) and incremental (departing marginally from the year before)”. It is conducted on a cash basis in current dollar. It is also in the form of line-items such as personnel or maintenance. This system is essentially a financial plan of estimated expenditures expressed in terms of kinds and quantities of objects to be bought and the estimated funds needed to finance them during a specified period, usually one year…

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