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Once a year, organizations produce a realistic operations budget and constituent approval from voters, elected officials, and department managers. However, acceptance of the annual budget is only one benchmark for success. Managing the budget effectively is a year-round challenge.
In recent years, shrinking federal and state contributions have made municipal budgeting more difficult than ever. In a 2006 study sponsored by Kronos and conducted by Government Insights (an IDC Company) entitled "Municipalities Challenged to Manage Budgets and Overtime," U.S. and Canadian municipal financial executives reported an average annual funding decrease of nearly 4 percent. ...