Academic Master

Business and Finance

Different Types Of Budget

Department Of Consumer Affairs (California Governor’s Office)

The Department of Consumer Affairs is a state government agency in California. The agency is responsible for safeguarding and promoting the consumers’ interest in the people of California by ensuring their health, safety, and well-being are adhered to by encouraging legal and ethical standards of professional conduct (California Budget, 2016). The agency was allocated a budget of $5.4 million in fiscal 2015-2016. $1.6 million of the budget was allocated to the creation of the Medical Marijuana and Safety Act Fund, which helped to create 25 positions for officeholders, while $3.8 million was allocated to the whole department (California Budget, 2016.

Type Of Budget In Each Agency

The Medical Marijuana and Safety Act Fund budget is the operating budget, while the Department of Consumer Affairs budget is the program budget. Thus, the operating budget is the budget that considers elements of expenses or income (Barr, 2018). Thus, the Marijuana Bureau budget will go toward hiring and consolidating the bureau, i.e., expenses, while the Department of Consumer Affairs budget cash will go towards specific programs.

Advantages And Disadvantages Of Program Budget

The advantages include that it helps determine the priority of the project and helps identify areas with higher funds requirements. The disadvantage is that if it is incorrect, it causes an increase in costs (Barr, 2018).

Advantages And Disadvantages Of Operating Budget

The pros of the operating budget include the following: it helps predict short-term and long-term goals and is flexible. The con of the operational budget is that it is hard for it to keep accurate information.

Summary

The budgets for the agencies above are responsible for safeguarding people’s interests by promoting ethical standards equally to all people within the given state. Different types of budgets use different planning methods. Therefore, for the agency budget, I recommend the use of the program budget.

References

Barr, M. J. (2018). Budgets and financial management in higher education. John Wiley & Sons.

California Budget. (2016). “Department of Consumer Affairs” Retrieved from http://www.ebudget.ca.gov/2016-17/StateAgencyBudgets/1000/1111/department.html

Hartley, K. (2018). Defence Budgets. In Routledge Handbook of Defence Studies (pp. 53-71). Routledge.

SEARCH

Top-right-side-AD-min
WHY US?

Calculate Your Order




Standard price

$310

SAVE ON YOUR FIRST ORDER!

$263.5

YOU MAY ALSO LIKE

Pop-up Message