CGFM Exam 1: Section 3 questions
and answers already passed
Purpose of planning - correct answer ✔✔identify priorities and determine how goals will be
achieved
programming - correct answer ✔✔usually is multi-year, cuts across responsibility centers
(departments, offices)
programming and budgeting have something in common - correct answer ✔✔both are
derivatives of the planning phase
primary purpose of programming - correct answer ✔✔determine the most cost effective means
for accomplishing goals and objectives
Factors to considers in programming phase - correct answer ✔✔-entitiy's mission, goals and
objectives
-policies and guidance of the chief executive and the legislature
Outcomes of programming phase - correct answer ✔✔-identification of most cost efective
means to achieve objectives
-identification of personnel, dollars, equipment, resources
-specific, measurable objectives
-level of resources that will be requested
-decision of how resources will be distributed
Major types of budget - correct answer ✔✔operations, cash, and capital
, In which way the budgetary information may be organized - correct answer ✔✔program or
object class
Operating budget - correct answer ✔✔-cover a limited period, usually 1 or 2 years
-specify planned revenues and expenditures through the budget period
Cash flow budget - correct answer ✔✔-it is concerned with the specific timing of cash receipts
and expenditures
-forecast the timing, as well as the amount of cash flows for the year
-the purpose is to help plan the timing of receipts and expenditures so funds will actually be
available when it is time to make a payment
Capital budget - correct answer ✔✔-cover big-ticket items that will support government
operations for several years.
-example:construction projects
treatment budget: purchase office stand alone laptop computers - correct answer ✔✔operating
budget
treatment budget: purchase of an integrated computer system to support finance and
accounting transactions accross several departments - correct answer ✔✔capital budget
treatment budget: construction of a new building - correct answer ✔✔capital budget
treatment budget: refurnishment of an existing building - correct answer ✔✔operating budget
or capital budget, depending on the cost, extended of the work, and the number of future years
benefit
and answers already passed
Purpose of planning - correct answer ✔✔identify priorities and determine how goals will be
achieved
programming - correct answer ✔✔usually is multi-year, cuts across responsibility centers
(departments, offices)
programming and budgeting have something in common - correct answer ✔✔both are
derivatives of the planning phase
primary purpose of programming - correct answer ✔✔determine the most cost effective means
for accomplishing goals and objectives
Factors to considers in programming phase - correct answer ✔✔-entitiy's mission, goals and
objectives
-policies and guidance of the chief executive and the legislature
Outcomes of programming phase - correct answer ✔✔-identification of most cost efective
means to achieve objectives
-identification of personnel, dollars, equipment, resources
-specific, measurable objectives
-level of resources that will be requested
-decision of how resources will be distributed
Major types of budget - correct answer ✔✔operations, cash, and capital
, In which way the budgetary information may be organized - correct answer ✔✔program or
object class
Operating budget - correct answer ✔✔-cover a limited period, usually 1 or 2 years
-specify planned revenues and expenditures through the budget period
Cash flow budget - correct answer ✔✔-it is concerned with the specific timing of cash receipts
and expenditures
-forecast the timing, as well as the amount of cash flows for the year
-the purpose is to help plan the timing of receipts and expenditures so funds will actually be
available when it is time to make a payment
Capital budget - correct answer ✔✔-cover big-ticket items that will support government
operations for several years.
-example:construction projects
treatment budget: purchase office stand alone laptop computers - correct answer ✔✔operating
budget
treatment budget: purchase of an integrated computer system to support finance and
accounting transactions accross several departments - correct answer ✔✔capital budget
treatment budget: construction of a new building - correct answer ✔✔capital budget
treatment budget: refurnishment of an existing building - correct answer ✔✔operating budget
or capital budget, depending on the cost, extended of the work, and the number of future years
benefit
