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Taking the plunge: the conversion to multi-year budgeting.
By abandoning the traditional annual budget in favor of a biennial budget framework, one small city has saved staff time, improved its strategic planning capabilities, and enhanced its overall financial condition.
Multi-year budgeting offers a number of potential advantages over annual budgeting, including decreased staff time, enhanced long-range planning, and improved program evaluation. Multi-year budgeting facilitates the integration of financial and strategic planning, replacing incrementalism with a more strategic approach to resource allocation. As more and more governments have become aware of these and other benefits, many jurisdictions have converted to ...
- Multi-year Budgeting: A Primer for Finance Officers.(from the Government...
- Magazine article from: Government Finance Review Blom, Barry Guajardo, Salomon February 1, 2000 700+ words
...survey on how multi-year budgeting is practiced among...regarding multi-year budgeting (MYB). Inquiries...article, multi-year budgeting refers to both a...forms, such as a biennial budget, a three-year...
- Money Matters in Maryland; A biennial budget may be a net loss.
- Newspaper article from: The Washington Post January 29, 1995 700+ words
...year budget cycle. Under the "biennial budget cycle" concept that is floating around...programs. Proponents also argue that a biennial budget process would result in reduced spending...other states that operate under a biennial budget, Maryland's legislature has no...
- Federal Biennial Budget -- An Idea Whose Time Has Come?(Brief Article)
- Magazine article from: Corrections Today Turpin, James June 1, 2000 700+ words
...difficult, politicized budget process, the call for a biennial budget appears to be gaining momentum. President Bill Clinton...the experience of the states? Twenty-three states use a biennial budget cycle. In 13 of those states, the legislatures may reopen...
- Virginia Biennial Budget Plan Includes $809.5M in Bonding.
- Magazine article from: The Bond Buyer Ackerman, Andrew June 20, 2006 700+ words
...it is less than the $890 million included in the last biennial budget. The compromise plan was unveiled Friday evening when lawmakers...run by the Norfolk Port Authority. Compared to the last biennial budget, for fiscal years 2005 and 2006, issuance is down from...
- Maine Governor Revises Biennial Budget to Address $95M Shortfall.
- Magazine article from: The Bond Buyer Stark, Jonna January 11, 2008 700+ words
...revealed revisions of the state's fiscal 2008 and 2009 biennial budget to address a budget gap, including consolidation efforts...still a cause for concern. The state went into adopting the biennial budget last year with a shortfall of about $500 million, she...
- Nebraska Governor Introduces Nearly $6B Biennial Budget.
- Magazine article from: The Bond Buyer Carvlin, Elizabeth January 19, 2005 700+ words
...unified front last week, jointly presenting the 2006-2007 biennial budget. "From the budget office perspective, we worked very...years ago that we faced the prospect of preparing the state biennial budget upon two years of negative growth in tax receipts." The...
- Maine Looks to Tighten Up $5.3 Billion Biennial Budget.
- Magazine article from: The Bond Buyer May 1, 2003 700+ words
...to rein in Maine's $5.3 billion fiscal 2004-2005 biennial budget is expected to be introduced today, following proposals...legislation, which would add the finishing touches to Maine's biennial budget and make the Pinetree State the first in New England to...
- Minnesota Democrats Propose $1B in Additional Spending in Biennial Budget.
- Magazine article from: The Bond Buyer Shields, Yvette April 21, 2005 700+ words
...billion in spending as part of the proposed fiscal 2006-07 biennial budget with a focus on increased education funding, but left out...the Senate begins to review spending bills that makeup the biennial budget. The Legislature is scheduled to adjourn by May 23. The...