Budget formulation is not a science but a refined art. Master the skills necessary to build an accurate and defensible budget compliant with the Office of Management and Budget's (OMB) strict standards. Learn how strategic planning and performance measures are the keys to compliance with the Government Performance and Results Act and why federal budgets need to be mission driven. Explore effective techniques for estimating the costs of a program by object classes, formulating a solid budget, the relationship between current-year and prior-year budgets and how to comply with the requirements of OMB Circular A-11. Learn to use the documentation that you have developed during earlier budget phases to prepare, present and defend your organization's budget.
Budget analysts and financial management specialists who assist in the preparation of their organization's budget submission and compile cost data and other information to contribute to decisions about future program activities, funding and budget strategies. Level: Intermediate.
Prerequisites:
Introduction to Federal Budgeting (BUDG7001D), or equivalent experience.
Objectives:
Use essential budget concepts and terminology effectively
Learn the steps to prepare for building a budget and effectively determine budget requirements that reflect your program's mission/strategic plan
Implement effective tools and techniques in documenting, presenting and justifying a budget
Explain the relationship between the current-year/prior-year budget and the budget year strategic plan
Use effective techniques for formulating a budget, adhering to requirements set forth in the Office of Management and Budget (OMB) Circular A-11
Prepare for a Program Assessment Rating Tool (PART) evaluation
Syllabus:
Syllabus -- Budget Formulation, BUDG7101D, Grad. School, USDA
Day one of four
Brief Review and Overview
Terms and concepts
The budget process and participants
Documentation/schedule
Preparing for Building a Budget
Review prior budget submissions
Validate baseline
Receive the call
Day two of four
Determining Requirements and Justifying
Allotment advice examples
Distribution nomenclature (outlays, cost measurement)
Characteristics of an obligation
Funds control liability and responsibility
Prepare sub-allotment advice
Status of funds document
Performance
Examples
Day three of four
Building A Budget
Documenting, Presenting, and Justifying
Present and defend the budget
Make internal program adjustments and markup budget
Day four of four
Understanding Actions Taken on Your Budget
This module is designed to teach students what happens next in the process. They have no further ability to impact, but they should understand.
