City of Norfolk 2008 Budget Analytical Essay by ABCs

City of Norfolk 2008 Budget
An examination of the budget for the City of Norfolk, Virginia for the 2008 fiscal year.
# 113892 | 4,560 words | 1 source | MLA | 2009 | US
Published on May 19, 2009 in Economics (Public Finance)


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Description:

The paper explains the City of Norfolk's approach to capital budgeting and critically examines the quality of the 2008 budget presentation. The paper outlines the key proposals and goals for the FY 2008 budget and reveals the total revenues and expenditures. The paper then proposes a new budget that will reflect a twenty percent decrease over the last year's figures. The paper includes an analysis of the situation and recommendations for the required budgetary cuts.

Outline:
Part I: Budget Format and Approach
Executive Proposals and Goals
Revenues and Expenditures
Public Services Costs
Summary
Part II: Overview of the Department Budget
Other Recommendations
Obstacles to Alternatives
Recommendations

From the Paper:

"Like many cities of similar size, the City of Norfolk uses a modified accrual basis for their budgeting and accounting (p. 9). This method allows expenditures to be recorded when the liability is incurred. For instance, purchase orders and contractual commitments are recorded as expenditures when they are executed (p. 9). However, revenues are recorded similar to a cash basis. They are recorded as soon as they are measurable and available (p. 9). This accounting method is based on known and foreseeable expenses in the future."

Sample of Sources Used:

  • City of Norfolk. FY 2008 Approved Departmental Budget. The Office of Budget and Management. http://www.norfolk.gov/budget/2008_Depts.asp Accessed August 24, 2008.

Cite this Analytical Essay:

APA Format

City of Norfolk 2008 Budget (2009, May 19) Retrieved October 20, 2019, from https://www.academon.com/analytical-essay/city-of-norfolk-2008-budget-113892/

MLA Format

"City of Norfolk 2008 Budget" 19 May 2009. Web. 20 October. 2019. <https://www.academon.com/analytical-essay/city-of-norfolk-2008-budget-113892/>

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