Exam 14: Budgeting and Managing Costs Creatively

Budget preparation responsibility may be assigned to __________.

Rent and insurance are considered fixed costs.

Variance budget analysis involves __________.

Common costs are costs that are directly traceable to a segment of an agency, such as a particular department or division.

Most budget items are __________.

Program budgeting __________.

An agency's calendar year and fiscal year are always the same.

The main clearinghouse for federal grants is a website called www.grants.gov, which makes available billions of dollars of grant money each year.

Bottom-line budget philosophy holds that __________.

Many agencies have begun charging for traditional services, including __________.

Variance reports __________.

Some communities operate on a ______________ philosophy, which permits departments to shift funds from one category to another as long as the total budget amount is not exceeded.

The budget is a critical document for __________.

The quartermaster system helps officers maintain __________.

Discuss the various ways departments might reduce costs and increase revenue.

A modern version of the program budgeting system that breaks costs down by activity is called _______________ costing.

A fiscal year is __________.