How these budgetary issues could have been prevented

Reference no: EM133735862

Question: Anticipating and avoiding critical missteps in the planning, implementation, and accounting of a capital budget are crucial skills when developing a budget. In this assignment, you will explain the importance of creating guidelines to ensure fiscal responsibility and discipline.

Review the following resources before completing your assignment: Watch "When a Bridge Falls," located in the Week 4 University Library Resources. This video provides a synopsis of the critical errors that may have led to the 2007 collapse of the Interstate 35W bridge in Minneapolis. Review the "Minneapolis Interstate 35W Bridge Collapse" resource guide for legislative reports and documents related to the 2007 Minneapolis bridge collapse.

Review Ch. 7, "Capital Budgeting, Time Value of Money, and Cost-Benefit Analysis: Process, Structure, and Basic Tools," of Fiscal Administration. This chapter explains concepts related to processes and guidelines for managing capital expenditures in a budget.

Watch "How to Make a Presentation." Review the presentation tips provided in this tutorial before completing the assignment. Imagine that you are a criminal justice employee responsible for managing a budget at your agency.

You have been asked to present to the budget planning team errors in budgeting so that your agency can avoid making these errors in your next budget proposal. Create a 6- to 8-slide presentation on the errors made in the planning and implementation of the capital budget related to the Minneapolis bridge collapse. Include the following headings and topics in your presentation:

Capital Budget Describe key steps that should be followed when developing and managing a capital budget. Minneapolis Bridge Collapse Describe 2-3 budgetary issues that led to the bridge collapsing.

Explain how these budgetary issues could have been prevented. Capital Budget Processes in Criminal Justice Explain the cost-benefit analysis process that should be followed when determining whether to fund a capital improvement or expenditure. Explain how the time value of money concept should be applied to the capital budget process.

Reference no: EM133735862

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