Budgetary Control and Public Sector Management

This assignment delves into the complexities of budgetary control within the public sector. It examines the interplay between Congress, the Presidency, and the expanding administrative state. Furthermore, the analysis considers performance budgeting for state and local governments, decentralization initiatives, and the application of project management practices in the Nigerian public sector. The role of climate change adaptation and the integration of enterprise architecture concepts are also explored within the context of budgetary control.

Develop and Manage a
Budget

Table of Contents
INTRODUCTION ..........................................................................................................................1
ASSESSMENT 1.............................................................................................................................1
1...................................................................................................................................................1
2...................................................................................................................................................1
3...................................................................................................................................................1
4...................................................................................................................................................2
5...................................................................................................................................................2
6...................................................................................................................................................3
ASSESSMENT 2.............................................................................................................................4
ASSESSMENT 3.............................................................................................................................4
B) & C)........................................................................................................................................5
D, E & F......................................................................................................................................7
Covered in PPT...........................................................................................................................7
Assessment Activity 4......................................................................................................................7
Question 1...................................................................................................................................7
Question 2...................................................................................................................................8
Question 3.................................................................................................................................14
Question 4.................................................................................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................18

INTRODUCTION
Budgeting is the important process which is adopted by the management of every
organisation to make the assumptions regarding the amount of expenditures and revenues which
is going to incur in future period of time (Bloch, Blumberg and Laartz, 2012). Such budgets are
prepared on the basis of the estimation of the past data. In this report, various budgets are used in
order to manage the risk in an effective manner. Although, this can be rightly said that the
management needs to adopt diverse kinds of budgets in order to foresee the future course of
actions of the organisation.
ASSESSMENT 1
1.
Sales budget for march Quarter
Sydney Melbourne Brisbane Gold coast Adelaide Perth
No. of sales 740 680 620 710 550 420
Average price paid for
each unit 260 220 200 190 180 170
Total sales 192400 149600 124000 134900 99000 71400
2.
Purchase Budget for three month
ending 31 December
Budgeted Sales 120000 140000 250000
Opening inventory ($) 144000 180000 210000
unit cost 28 28 28
No. of units
purchased
5142.85714
28572
6428.57142
85714 7500
3.
Expense Budget
Fixed expenses:
Manager's salary ($) 6000

Depreciation of delivery vehicle 1000
Depreciation of fixtures &
fittings 1500
Rent 1000
interest on loan 2500
Variable expenses:
General Expenses 800
Advertising cost 2500
Commission 1900
Cartage 950
Discount allowed 2375
Total expenses 20525
4.
Expense Budget
Fixed expenses:
Manager's salary ($) 6000
Depreciation of delivery vehicle 1000
Depreciation of fixtures & fittings 1500
Rent 1000
interest on loan 2500
Variable expenses:
General Expenses 800
Advertising cost 2500
Commission 1900
Cartage 950
Discount allowed 2375
Total expenses 20525
Budgeted income statement

Sales ($) 45000
Less: Cost of goods sold (op. Inventory + purchases- cl.
Inventory ) 6000
Gross profits 39000
operating expenses:
Marketing 4900
Administration 2500
Financial 1200
Net profits 30400
5.
Production budget: July August September
Expense sales in units 400 480 600
Less: Opening inventory 48 40 48
Production units 352 440 552
6.
A).
Flexible Budget: Flexible budget Actual
Adverse/
favourable
Production (Units) 180000 195000
Variable cost:
Raw material
88338.4615384
616 95700 -7361.54
Direct labour
105923.076923
077 114750 -8826.92
Variable factory overheads 52615.38 57000 -4384.62
Total variable cost 246876.92 267450
Fixed factory OH 63000 62500 500
Total Cost 309876.92 329950 20073.08

B).
Performance Report
To Senior Manager Officer, XYZ Ltd
From Junior Management Accountant, XYZ Ltd
Date: 27th April, 2018
Subject: For evaluating the Performance Report
Performance report is the one which is used by the various stakeholders in order to
know about the organisation in an effective manner. By using this report, it has been observed
that the company produced 195000 which is more than production in flexible budget. The
overall costs of quoted budget shows favourable variance between actual and flexible budgets.
C).
From the above mentioned report, this can be rightly said that the overall performance of
the quarters shows a positive side which simply means that the data can be used by the
organisation and diverse stakeholders in order to gain the sustainable development. Henceforth,
this is used in various organisations in an effective manner (Kull and et. al., 2014).
ASSESSMENT 2
Cash inflows Jan Feb Mar
Opening balance 7400 7991 4652
Sales
Cash (60%) 51000 36000 39000
Credit (40%) 16490 10200 6800
11640 7200
12610
Total Inflows 74890 65831 70262

Cash Outflows
Purchase 39984 10200 0
28224 7200
30576
Other Expenses 7115 7115 7115
Salary 8000 8640 8640
Drawings 7000 7000 7000
GST 4800
Total Outflows 66899 61179 60531
Cash Balance 7991 4652 9731
ASSESSMENT 3
A).
 Budgeted income statements helps organisation to forecast the revenues of the
organisation apart from that expenses (Schick, 2015). As per this, actual expenses are
then compared to the budgeted expenses and if any kind of favourable variances occurred
then in that situation, company would get to know about the business objectives in an
effective manner. On the other hand, this could be rightly said that the budgeted incomes
statement helps to know about the business performance are adequately used in this or
not. While this would finally help out to gain the business objectives attainable. If the
variances happen in an adverse way. Then, in this there is a requirement to overcome
such types of values by using various management accounting tools in an effective
manner. However, this can be rightly said that the organisation is required to address this
in an efficient manner. Budgeted income statement assist an organisation to forecast the
revenues of the organisation along with expenses. This is the tool which can be used by
the organisation in a most effective manner.
 It can be rightly observed that the management is required to the assess about the cash
transactions henceforth, they needs to form appropriate cash statements (Rummler and
Brache, 2012).
 Budgeted balance sheet assist organisation to make the operational manner. Henceforth,
this would help out to assess about the predicted balance sheet. A budgeted sheet is a
report which management implements to forecasted levels of assets, liabilities, and

equity which are relied upon the budget for existing accounting period. On the other
hand, budgeted balance sheet demonstrates where whole account will be at the end of
period. At the end of each period, management normally introduces planning a master
budget for the next period (Davila, Epstein and Shelton, 2012). Master budget is formed
up of a ton of little budgets for sales, cash, selling expenses and basic expenses. Whole of
these are integrated to form one comprehensive financial plans. If the master budget is
completed, manager requires to oversee about what kinds of organisation financial
statements would oversee if an organisation could attain their targets for period. These
kinds of two reports summary affects the budget would needs on the financial position of
the organisation if budgeted numbers are meet out. Management wants to investigate
their plans in order to assure that they are required to be done in the best interest in the
long run.
B) & C)
[Pete Sampras] Income Statement
For the Years Ending [30 June, 2015]
Revenue
Sales revenue 4,20,000
Less-
Cost of purchases (2,400)
Total Revenues 4,17,600
Expenses
Advertising (17,200)
Depreciation -1600
Bank charges (300)
Office expenses (7,600)
rates and taxes (3,800)
Bank charges (300)
Commission on sales (4,900)
motor vehicle expenses (9,600)

Interest on loans (6,000)
Salaries and wages (34,600)
Total Expenses -85900
Income from Continuing
Operations 331700
CASH BUDGET
For the period 30th June, 2014 to / 30 the June 2015
Cash and cash equivalents, beginning of year 0
Incoming payments
Cash sale of goods 4,18,600
Total incoming payments: 4,18,000
Outgoing payments
Creditors 0
Advertising -17,200
Office Expenses -7,600
Rates and taxes -3,800
Bank charges -300
commission on sales -4,900
Motor vehicle expenses -9,600
salaries and wages -34,600
Total outgoing payments: -78,000
Credit facility balance end of year 3,40,000
[Pete Sampras] Balance Sheet
Date:30th June, 2015
Assets

Current Assets
Cash 3,40,000
Accounts receivable 6,400
Inventory 2,000
Total current assets 3,48,400
Fixed (Long-Term) Assets
Motor vehicle 6,400
Property, plant, and equipment 60,000
Total fixed assets 66,400
Total Assets 4,14,800
Liabilities and Owner's Equity
Current Liabilities
Accounts payable 8,000
Bank overdraft 4,400
Total current liabilities 12,400
Long-Term Liabilities
other borrowings 59,522
Mortgage 35,200
Total long-term liabilities 94,722
Owner's Equity
Owner's investment 7,178
Less- Drawings (31,200)
Add- Net profits 3,31,700
Total owner's equity 3,07,678
Total Liabilities and Owner's Equity 4,14,800

D, E & F
Covered in PPT
Assessment Activity 4
Question 1
There are many advantages and disadvantages are associated with budgeting process.
Advantages of budgeting
 It helps the management of organisation in early identification of issues and problems
associated with business functions (Marini, 2014).
 It helps the manager regarding controlling of their controlling of their income and
expenditure.
 Budgeting provides the opportunity regarding effective allocation of capital and other
resources into the most profitable channels (Kelly and Rivenbark, 2014).
 The major advantage which is gathered from the preparation of budget includes the
development of the attitude of cost consciousness which helps in optimum utilisation of
resources.
 It helps the management of organisation is to measure the performance of their employee
and different departments and contributes their functions in improvement of their actual
performance (Diamond, 2017).
Limitations of budgeting
 Inaccuracy: One of the major limitation which is associated with budgeting is that all the
information which present in budget is based upon estimation by taking the reference of
past information. So, the information is not accurate all the time.
 Time consuming and costly: Making of the budgets is time consuming process which
includes the interpretation of past data to analyse the future trends which also involves
higher amount of cost (Olateju, Abdul-Azeez and Alamutu, 2011).
 Rigidity: Budgets are rigid and it is difficult to change the figures after its preparation.
 Excessive spending: Budget creates misinterpretation among the department that whole
allocated amount is need to be spend which increases their expenditures.
 Scope for manipulation: It is easy for manager to manipulate the budget by changing
their expenses and revenues for misleading of their stakeholders.

Question 2
There are different type of organisations and they need different budgets on the basis of
their nature in performance of their functions in more appropriate manner. For manufacturing
organisation, there is need of formulation of different kind of budgets which assist in effective
performance of different departmental functions (Ford and Berrang-Ford, 2011). This will
provides the opportunity to organisation is to effectively accomplish their goals within stipulated
period of time. Such different kind of budgets which are need to formulate in manufacturing
organisation includes Master budget, operating budget, Cash flow budget, Financial budget and
static budget. All the budgets have their different functions in organisation and various
advantages and disadvantages are associated with such budgets. It is the duty upon the
management of organisation is to effectively formulate these budgets through use of past
information of organisation. It helps the organisation to track and manage their resources in more
effective manner (Baird, 2011). The main purpose behind the development of these budgets is
measure their spending and development of effective strategies to maximises their asset and
revenues. The different kind of budgets are defined below:
 Master budget: This budget is considered as the aggregate of all the individual different
budgets which are prepared in organisation. This budget is designed to ascertain the
complete picture of its financial activity and health (Newton, 2016). The different kind of
budgets which are included under this includes sales budget, cash budget, capital budget,
production budget, manufacturing budget, budgeted financial statements etc. This budget
includes the combination of different factors like sales, operating expenses, assets and
income streams which provides the opportunity to the management of organisation for
establishment of their targets for evaluation of the actual performance of different
departments and whole organisation. Such kind of budgets are used in such organisations
which are large in nature and helps to keep the all managers of different departments
aligned with each other ( Lövbrand and Stripple, 2011).
 Operating budget: This budget provides the budgeted information regarding their
income and expenses which is going to incur in future over specific period of time. To
make these budgets more accurate and reliable need to oversee different factors like sales,
production, labour costs, material costs, overhead, manufacturing costs and
administrative expenses. Consideration of all such aspects provides the opportunity to

build effective budget which provides direction to the employees of organisation for
effective accomplishment of their individual and common targets of organisation. Such
budgets are created on weekly, monthly and yearly basis. This further used by the
manager to compare such monthly reports to ascertain the information regarding the
amount which is overspending upon supplies (Tickell, 2013).
 Cash Flow budget: It is a budget which shows the information regarding how and when
the cash comes in and out of the organisation over specified period of time. It provides
the opportunity to the management of organisation is to ascertain the view regarding they
are wisely managing their cash or not. While preparing cash flow budget consider the
factors like accounts payable and receivable to assess the amount of cash which they have
in hand for operation of their business operation in more optimum manner. This budget
helps the management of organisation to effectively manager their cash and meet out
their working capital acquirement for effective performance of day to day functions. The
cash flow budget is classified into three types operating, investing and financial. It helps
the manufacturing organisation to understand about the fact that it is possible for them to
start the new project before getting paid.
 Financial budget: This budget is formulate by the organisation for effective
management of their financial assets. This budget shows the company's strategy
regarding effective management of their assets, cash flow, income and expenses.
Financial budgets provide the complete picture of organisation financial health and
collection of the information about their overall spending on their different core
operations. It is considered as one of the important budget in terms of function. This
helps the manager of organisation is to identify requirement of funds of different
departments according to their functions. After that this information is further used for
effective allocation of funds as per their requirement of different budgets (Bernard,
2012).
 Static budget: This budget is also known as fixed budget which is not changed. The two
main factors which contributes in changing of such budget includes sales volume and
revenue. Under this budget, includes the estimated values of input and outputs which are
going to achieved before the period begins. When such budgets are compared to actual
results it provides different result.

Budgeting process showing source of information for each type of budget
Operating budget
The different steps which helps in preparation of operating budget is defined below:
 Review prior period's data: It is the first step which includes the activities regarding
evaluation of the past years data and information for understanding the trends which
persist in such period of time. On the basis of this collected information results are
interpreted and reaching out towards the important conclusion.
 Development of reasonable assumptions: This second step includes the preparation of
the assumptions on the basis of interpretation of the above collected information. It
provides the opportunity regarding assessment of their income and expenditures which
are incur over specifies period of time.
 Determination of expected revenues: This steps includes the process of assessment of
their expected income from their future business operations through use past years data
and assumptions.
 Calculation of expected COGS: After assessment of their income, this step includes the
activities regarding determination of the expected cost of good sold. It helps to ascertain
the amount which they going to earn from their business operations.
 Calculation of other expected costs: This helps in identification of the different costs
which are involved in manufacture of their products. It helps to assess their actual
profitability.
 Calculation of expected operating income: After completion of all the above
mentioned steps, management of organisation is able to understand about the figure of
expected income after deduction of all expenses.
Financial budget
The different steps which are included in the process of preparation of financial budget
are mentioned below:
 Update of budget assumptions: This includes the process of reviewing of the
assumptions regarding business environment which is used in the preparation of last
budget and make changes as per current requirements.

 Review bottlenecks: The process of determination about the capacity level which helps
them in generation of further amount of sales which provides opportunity regarding
earning of large number of profits (Shearman, 2018).
 Available funding: Identification of the amount of funds which are available with the
organisation at present.
 Step costing points: Determination of the costs which are inured in upcoming budget
period.
 Create budget package: This includes about the copying of basic budgeting instructions
from the last years instructions packet. This is required to update every year according to
the expenses which are incurred in real time.
 Issue budget package: Here answers are provided to the recipients regarding their
questions. Here also mentioned the due date regarding the first draft of the budget
package.
 Obtain revenue forecast: This step includes the process of ascertaining the information
about the forecast of revenues from sales manager and its effective distribution in
between different departments. Such information is further used regarding preparation of
their own budgets.
 Obtain department budgets: This steps includes the collection of budgets from
different departments regarding checking of errors, compare to bottleneck, funding and
step costing constraints. It helps in adjusting the budgets whenever required.
 Obtain capital budget requests: Validation of capital budget request and further
provided to senior management for their recommendations (Sinn, 2014).
 Update the budget model: This includes about updating of all information which are
collected from above steps and make adjustments in final budget.
 Final financial budget: This is considered as final budget which is required to adhere by
the different departments of organisation while performing their activities. This provides
the opportunity regarding accomplishment of their objectives in more effective manner.
Cash Flow Budget
The different steps which are required to oversee while preparing cash-flow budget is
defined below:

 Determination of inflows of cash: In this regard, the management of organisation is
required to predict the amount of future cash receipts on the basis of their sales figure. It
provides the opportunity regarding determination of trends and patterns in sales (Ulin,
2013). They also need to oversee internal and external factors and their impact upon
current business operations. It helps to asses the impact upon prices and sales. There is
need to predict about their realistic sales which helps to understand about their cash
receipts. Another this which is need to oversee predicting the amount of their cash
inflows include identification of the pattern regarding debtor remittances. At last,
management is need to consider the cash receipts which comes other than those from sale
of goods and services.
 Determination of cash outflows: This step includes the identification of amount of cash
outflow through assessment of the amount of their expenses. It provides the opportunity
to attain the amount of cash which goes out from business. Such cash outflows are further
classified into three types. This can be different in every organisation according to their
nature. The selling price which going to fix by the organisation need to be include all
such cost of expenses for ascertaining actual amount of profits.
 Overhead expenses: Such expenses are known as fixed cost because they not change
with the change in the level of volume of sales. Such expenses are required to be paid on
the monthly basis. The different items which are considered under this includes salaries,
electricity, stationery, rent and phone bills. These costs are excluded from their receipts
for determination amount of profit and available cash.
 Variable expenses: This includes the such expenses which are varies with the change in
ales volume and inventory levels. The different kind of expenses which are included in
this are raw materials, direct labour and other costs. Such costs are forecasted as the
percentage of sales (Kain And et. Al., 2014).
 Other expenses: There are many other expenses which are inured by the organisation in
the process of the production of their production where management is required to pay
cash. Under this, expenses includes all which is incurred upon purchase of machinery or
equipments, dividends, insurance premiums and training programmes. For preparation of
effective cash flow budget, management of organisation is need to oversee such expenses

regarding appropriate forecasting of cash. It provides the opportunity to assess the
amount of available cash.
Master budget
The main steps which helps in preparation of Master budget are defined below:
 Formation of budget committee
 Review of the long term plan
 Determination of the principle budget factor and formulation of budget according to it
 Formulation of sales budget
 After that formulation of finished goods stock budget and production of budget
 Formulation of budgets regarding resources for production
 Preparation of material usage budget on the basis of production budget
 Preparation of machine utilisation budget which provides the information regarding
operating hours required on each machine.
 Formulation of labour or wages budget
 Formulation of overhead cost
 Preparation of raw material budget
 Formulation of debtors, creditors and cash budgets
 Coordinate and review of budgets
 Preparation of the master budget
Question 3
Master budget: It is considered as the expensive business strategy which includes the
information regarding different aspects such as purchases, production levels, capital investments,
future sales and the amount of loans which are acquired and repaid. In other words, it can be said
that master budget includes many other financial budgets. This will also includes budgeted
income statement and balance sheet (Sutcliffe, Dunbar, Binder and Arrow, 2012).
Basically, it is considered as the strategic plan which is prepared by the management of
organisation for the purpose of the shaping of the future of organisation. This means each
transactions and operations of organisation is considered in the process prediction of their future
operations. It is understood from the above explanation that master budget is a folder which
various kind of budgets which are mentioned below:
 Sales budget

 Production budget
 Manufacturing budget
 cash budgets
 capital budgets
 Budgeted financial statements
 Merchandise purchases budget
This budget is used by the management of organisation as the central planning tool which
provides the opportunity regarding directing of their employees and appraisal of the
performances of their various kind of responsibility centres. It also contributes in effective
allocation of funds to their different departments for improvement of their working efficiency.
The overall contribution of Master budget is that it helps the organisation in accomplishment of
their desired results.

Question 4
Risk: This risk in organisation is considered as lack of cash flow which affects their
ability regarding effectively pay out their existing liabilities. Risk is the main constraints which
can arise in the business for making the business sustainable and reliable. Management of an
organisation needs to make a better decision-making in order to reduce the things which could
impact the business for the gaining the sustainable development. This enables the business to
determines various kinds of risk and when situation would enables to dictate opportunities from
uncertainties. This can be understood that presence of large number chances about ascertainment
of negative outcomes. Any action which results in loss is termed as risk. Such risks are further
classified into three categories includes:
 Business Risk
 Non-business Risk
 Financial Risk
Financial risk: This will includes all the risks which results in financial loss in
organisation is known as Financial risk. The major reasons which cause financial risk in
organisation includes market movements. Such financial risks are further classified into different
types like Market risk, credit risk, liquidity risk, operational risk and legal risk (Budgetary
Control. 2017).
Strategies to overcome from unforeseen events
There are many tools which helps to overcome from the financial issues like
benchmarking, key performance indicators, financial governance, balance score cared approach
etc. On the basis of the application of the provisions of this tool, strategies are formulate by the
management of organisation. The steps of this strategy are defined below:
 Formulation of damage report
 Control over emotional response
 Emphasis on long term objectives
 Clear communication of challenge
 Settlement of situation
CONCLUSION
From the above mentioned report, this can be rightly said that the risk is evaluated by
using budgets in an effective manner. In this report, four assessment activities were given and

further they have bifurcated in a different way. Various budgets are used under assessment
activity one which comprises, sales budget, purchase budget, expense budget, budgeted income
statement, manufacturing budget, performance reports are used under this. While in Assessment
2, cash budget is made under this. While in assessment activities 3, budgeted income statement,
cash budget, budgeted balance sheet. While in assessment activity 4, various budgetary
limitations and benefits are used under this and tells about the budgetary tools in detailed
manner. Here, also defined about different type of risk which are arise in organisation. There are
many measures are identified which helps to overcome from such risks. Identify the risks:
Under this, risks are identified in order to determine the risks henceforth, operations staff
becomes known as the potential issues. There is not only risk is determined but also it should be
repeated in an effective manner. Analyse and prioritize:- Risk assessment transforms
forecasting the information about particular risks which emerged at the risk identification into a
regular form which could be implemented decisions prioritization. Risk prioritization assist
operations in order to commit resource to handle the most crucial risks. Plan and schedule:
Risk planning emerges data which emerged after analysing and also implements it in order to
formulate the strategies, plans, changes related requests and actions. Track and report: Risk
tracking monitors the status of the particular risks and the development in their respective action
plans. Risk tracking likewise covers handling the probability, affect exposure , and diverse
measures of risks for changes which can modify the priorities and ultimately availability of
service. Control: Risk control is a single procedure of evaluating risk related action plans. Risk
tracking likewise covers controlling probabilities, affect, exposure and diverse kinds of measures
of risk for changes which can modify the priorities or risk plans and effectively availability of the
services. Risk reporting guarantees that the operations staff, and other stakeholders are aware the
status of top risks and plans to handle them.

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Online
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