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UNIT VII ASSIGNMENT
REVIEW OF REVENUE
MBA 6841 Public Budgeting
By
Nguyen Dinh Quoc Viet
Student ID: 228598
REVIEW OF REVENUE ESTIMATES 2012/13 OF
ORANGE COUNTY FIRE AUTHORITY
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Top of Form
PART I: INTRODUCTION
The budget that I am reviewing is the budget of the Orange County Fire Authority (OCFA). I have been attracted to this budget because it has been given the Distinguished Budget Presentation Award by the Government Finance Officers Association. This budget will be reviewed for combined budget summary 2012/13, of which each budget will be basically described and demonstrated differences and similarities between them. Based from these, I will make forecast assumptions for next year and calculate the expected amounts of revenue to change in the future. Last but not least is my capital improvement plan overview to recommend how the budget can be improved and revenue estimation can be accurately accessed at each level.
Keywords: Orange Country Fire Authority’s budget, combined budget summary, forecast assumptions, capital improvement plan.
PART II: COMBINED BUDGET SUMMARY 2012/13
Basic description of each budget:
The OCFA establishes accounting control through formal adoption of an annual operating budget for the governmental funds. The operating budgets are prepared on a basis consistent with generally accepted accounting principles. Annual appropriated budgets are adopted for all of the governmental funds. Perspective differences occur when the framework used for budgeting differs from the fund structure used for financial reporting. The OCFA’s General Fund consists of three...