Business Finance Homework Help

You are the budget director of a small city that has just elected new city council members. Of these new council members some have a limited experience with budgets from their employment in the private sector, some have no experience with budgets or the budget cycle, and none of the new members have ever worked in government at any capacity prior to their recent election. Previous experience has taught you that you can avoid a multitude of problems by taking a little time to educate the council members on key points of the budget and the budget process.

Prepare a 350- to 700-word memo that describes the budget cycle. See the Sample Business Memo located in the Center for Writing Excellence as an example for what a memo should look like.

Include the following in your memo:

• A description of the budget cycle, such as the development, execution, and evaluation of the cycle
• Be specific with the process and who is responsible or involved.
• A description of revenue available to the government and how it is used