Please respond to the below discussion post. Please use scholarly resources. Also do not just agree with the post but intriduce new ideas and be engaging.

Assessment of the Value of the Budget Cycle

A budget cycle is a valuable tool for both governments and organizations in creating and approving the budget. The assessment of the budget cycle identifies the significance of each step in the budget cycle.

Revenue Estimation

Revenue estimation for the budget is performed by the executive branch of an entity, such as the manager, budget director, clerk’s office, and finance director. At the federal level, the president is tasked with the responsibility. In a parliamentary system, the chief executive or the prime minister is charged with the estimation. Also, the budget estimation needs to factor input the return on investment and the underlying risk (Rubin, & Mantell, 2020). The revenue estimates are tabled for the next step of budget formulation. This is the initial strategy of the budget cycle.

Budget Formulation

Budget formulation entails a reflection of the past performance and the set objectives followed by a reconciliation of the revenue estimates. The primary activity at this stage is to set the parameters of the budget. The executive arm of either the government or an organization indicates revenue generation and mode of resource distribution. The appropriate technique is incremental budgeting.By using the historical data as a baseline, the formulators can determine the budgetary allocation for the following year. The historical data includes both expenditure and income data as the starting point.

Budget Hearings

The budget hearings include public and stakeholders’ participation, executive, sections, and the departments.The aim is to discuss the budget changes during the budget formulation after the revenue estimates. During the budget hearing process, valuable input is incorporated into the proposed budget. At this point, the public is invited to offer their proposals in case of a government budget. In the case of an organization, the stakeholders get a glimpse of the executive plans. Also, have a chance to input their contributions.

Budget Adoption

Budget adoption entails the final approval by the legislative body: congress, state legislature, school board, or the shareholders. The legislature’s task is to review the budgetary recommendations of the executive based on the original agency or departmental budget requests. The legislative body may decrease the budgetary allocations for specific areas (Goleva, & Mircheva, 2020). However, in some instances, there exist limitations in increasing budgetary allocation. In a parliamentary system, the parliament can modify the budgetary allocation but cannot increase the government’s expenditure. The modifications are based on a series of hearings where individual agencies or departments and the central budget office testify. In a government setting, the approved budget becomes law.

Budget Execution

The executive is tasked with collecting the approved revenue and allocating it according to the approval by the legislative body. The entire process involves reporting, adjusting, and monitoring the approved budget. The executive can only undertake the projects, programs, and policies in the enacted budget (Fischer et al., 2017). There exist differences in the monitoring and regulation on the adherence to the budget among governments and organizations. However, it should be according to the set regulations.

Assessment of the Value of Budgetary Planning Techniques

Budgetary assessment evaluates whether the allocated resources or revenue has been used effectively and appropriately. The four steps include forecasting, financial modeling, driver-based planning, and trend analysis.

Trend Analysis

Trend analysis encompasses both long-term and short-term evaluation of the expenditure and revenues. The periods may be measured in years, quarters or months. The aim is to analyze and calculate the percent change and amount change over the periods (Molotok, 2020). Hence, one can identify areas of over-spending and areas with extra money. The results determine whether the spending is aligned to the financial goals of the budget.

Driver-Based Planning

The driver-based planning examines the critical aspects of the budget, both expenditure and revenue, and the elements that influence their trend. Such elements include the number of residents, the overall objective, and the amount of revenue generated. The outcome of this stage is to link the expenditure required with the revenue needed to fulfill it. Also, the relevant body is guided on which elements need to modify to ensure the budget is still aligned to the financial goals.

Financial Modeling

Financial modeling entails the use of equations to support driver-based planning. The process builds an abstract representation that mirrors the real-world financial scenario. Examples include spreadsheet models for modeling techniques, forecasting, company valuation, and investment analysis. The financial modeling results support the identified trends and the required changes since the executive presents an almost real-world scenario. From the financial model, the stakeholders have a glimpse of what to expect in the future.

Forecasting

Forecasting incorporates financial modeling into linear regression, multiple regression, and nonlinear extrapolation. This predicts the future outcome and tests the model fit of the financial data used in financial modeling (Kumar. 2021). Hence, the government or the organization can estimate the expected income or revenue. Remember, the budget quantifies the expected revenue while forecasting indicates what will be achieved in a future period.

References

Fischer, L. S., Santibanez, S., Jones, G., Anderson, B., & Merlin, T. (2017). How Is CDC funded to respond to public health emergencies? Federal appropriations and budget execution process for non–financial experts. Health security, 15(3), 307-311. https://www.liebertpub.com/doi/abs/10.1089/HS.2017.0009

Goleva, V., & Mircheva, V. (2020). Constitutional and financial legal aspects of the state budget in the republic Of Bulgaria. Economics & Law, 2(1), 16-42. https://ideas.repec.org/a/neo/ecolaw/v2y2020i1p16-42.html

Kumar, S. (2021). Predictive, regression, and model building for driver-based budgeting.

Molotok, I. F. (2020). Bibliometric and trend analysis of budget transparency.

Rubin, M. M., & Mantell, N. (2020). Revenue forecasting and revenue estimation. In Encyclopedia of Public Administration and Public Policy (pp. 2920-2926). Routledge. https://www.taylorfrancis.com/chapters/revenue-forecasting-revenue-estimation-marilyn-rubin-nancy-mantell/e/10.1081/E-EPAP3-546

Defending Compstat Script

Module 01 Content

1. Crime prevention methods of the past were reactive. This means that police simply responded to criminal incidents leaving citizens to wonder how future criminality would be prevented. In order to reduce the social anxiety caused by past crime prevention that did not offer methods for citizens to protect themselves, new strategies needed to be designed.
   Current methods require police to be proactive. In other words, they are identifying potential pockets of crime so that prevention methods can be implemented. It also means sharing that information with residents so they can take measures to avoid becoming a victim.
   As the police chief in your town, you want to introduce the new resource – Compstat – to your community. Write a  2 page description that could be used as a script for an informational video, about Compstat.
   NOTE – Be sure that the descriptions are written in simple language and are easy to read out loud.
   In the script carefully include the following:
   • Define the core principles of Compstat.
   • For each principle you defined, explain one strategy that you consider most beneficial to crime prevention.
   • Discuss a challenge to using Compstat.
   • Offer a resolution to the challenge of Compstat usage you identified.

Competencies Addressed in This Assignment

• Competency 5: Assess the ethical, community-focused leadership skills required for successful criminal justice practitioners in a wide range of interactions.
• Competency 6: Employ the professional communication skills expected of a criminal justice practitioner.

Assignment Description

In prior units, you refined your topic and prepared drafts for three competencies. You should be making revisions to your final deliverable, due in Unit 10, based on the feedback you have received.

You will continue drafting in this unit, focusing on Competency 5. Throughout the units, you will continue to build out project content specific to each competency.

Instructions

In this unit, you will prepare your draft addressing the following based on your topic. Note: Use a library tool, such as RefWorks, to track your sources for the duration of your Criminal Justice Capstone Project.

Assess the ethical, community-focused leadership skills required for successful criminal justice practitioners in a wide range of interactions.

1. Assess the leadership skills in ethics necessary for practitioner success in implementing your program or policy.
2. Assess the community-focused leadership skills necessary for practitioner success in implementing your program or policy.

Requirements

• Written communication: Written communication is free of errors that detract from the overall message.
• APA formatting: Resources and citations are formatted according to current APA style and formatting.
• Number of References: 3–4 peer-reviewed references.
• Length of paper: 4–5 typed double-spaced pages.
• Font and font size: Times New Roman, 12 point.

This is a two part question in that the structure for policing in America was formulated on Sir Robert Peel’s (Metropolitan Police Act, 1829) perspective and an military model. 

Why do you think that he chose to structure after the military model? 

What effect do you think the political, reform and community eras have had on the fourth or, New Era, of policing?

Can elements from previous eras in history be found in today’s policing or is everything completely different?  Identify and provide examples.

required book: Policing (Justice Series), Student Value Edition 3rd Edition