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Evaluation of Multiyear budget

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trends of revenue sources and balances (funds, surpluses, deficits);
 an assessment of internal/external opportunities and challenges of revenue sources;
 goals and priorities of the local government goods and services;
 an assessment of internal and external challenges for providing goods and services;
 an evaluation of budget stabilization measures; and
 an analysis of financial policy trends toward alternative taxes

Report should consist of no less than three pages, and all sources utilized should be cited and referenced using APA
style.

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The response provides you a structured evaluation of Multiyear budget . It also gives you the relevant references.

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Multiyear budget refers to the development and adoption of an expenditure and revenue outlay that covers two or more years. Multiyear budget leads to improved financial management, enables program monitoring and evaluation, and helps long range planning and strategic planning. Such a budget enables maintaining reserve funds, links operating and capital activities, and recognizes structural imbalances between revenue and expenditure trends.
Multiyear budget helps identify sources of revenues and costs. The multiyear budget helps identify hidden liabilities. The budget helps identify political pressures as well as the effects of the economy. It helps identify the trends of revenue sources. It helps identify the current sources of revenues such as property taxes and helps identify if these are increasing or decreasing. At the same time Multiyear budget helps identify trends in fund balances. It helps understand if the fund balances are increasing or decreasing. Multiyear budget provides insights into future fiscal problems and provides time to address those issues. For example if the trend shows that a particular revenue source is declining, the county or the government has the time and opportunity to develop a new source of revenue (1). Similarly, if a fund is perceived to be inadequate, the county can take steps to augment that fund or raise new resources for the fund. If a fund is expected to have a surplus, the government can plan new services that will make use of the surpluses. The key advantage that ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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