ENVIRONMENT CMFO
GUIDE QUESTIONS AND
CORRECT ANSWERS
GRADED A+ 2025-2026
Planning - ANS-This component involves defining goals and deciding how these goals
can best be achieved
Programming - ANS-This component plans for how resources will be used to achieve
the objectives that support the mission
Budgeting - ANS-The activities that encompass the development, implementation, and
evaluation of a plan for the provision of services and capital assets
Operations - ANS-Consists of the activities required to achieve objectives
Accounting - ANS-The recording and reporting of financial transactions
Reporting - ANS-Provides citizens information about the city's stewardship of
resources and current financial status
Auditing - ANS-May involve an independent CPA following GAGAS