Prepare four documents (5-7 pages total) that advise a county board of advisers on matters related to a proposed tax rate, participative vs. authoritative budgets, methods of governmental financial reporting, and a cost-variance analysis.
This assessment will give you the opportunity to act as the comptroller for an imaginary Caroline County. As the comptroller, you will prepare and submit documents to the County Board that explain and demonstrate the unique accounting methods used by a county government, including the calculation and proposal of a tax rate.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:
For this assessment, you will act as the comptroller for an imaginary Caroline County. The current county board of supervisors is mostly new, so they will need a lot of guidance. One board member has requested an explanation for the two sets of financial reports used in government accounting. The board will also need recommendations on whether to approach the budget using an authoritative or participative approach. The most important item will be setting an appropriate tax rate for next year that takes into account the possible purchase of 6 new school busses, but the board has also requested a cost-variance analysis to explain food overages incurred during a recent bicentennial celebration at the county seat in Clarksville.
You are the comptroller of the fictional Caroline County.
For this assessment, your comptroller tasks will include preparing and submitting four different documents:
In preparation for the annual meeting with the county board of supervisors, you will present a tax rate proposal and associated budget. To do so, you will need to:
Data relevant to your proposal and budget:
When preparing this tax rate proposal and budget (1–2 pages) for submission to the supervisors, include all relevant supporting documents and other information, such as:
The county board of supervisors is currently debating whether the heads of the county departments should have more input into the budget preparation process than they have had in previous years. In other words, the board is debating whether to move to a more participative budgeting process. Write a report (1–2 pages) for presentation at the next board meeting that discusses the difference between a participative budget and an authoritative budget. Include the advantages and disadvantages of each.
One of the newly elected members of the county board of supervisors is looking at last year’s Comprehensive Annual Financial Report and has noticed that it appears to contain two sets of financial reports instead of the one that he is used to seeing for business enterprises. He has asked you to explain this to him. Write an email (2 pages) that discusses the two sets of financial reports, including their names, their contents, and the reason that there are two sets.
A party was held to celebrate the bicentennial of Clarksville, the county seat of Caroline County. Six-hundred attendees were estimated, but 700 arrived. The food and entertainment budget was $6,000, but the actual costs were $7,500. The overall spending variance was $1,500 ($7,500 – $6,000 = $1,500). Using flexible budgeting techniques and variance analysis, write a report (1 page) that explains how this $1,500 overall variance is divided into a cost variance and a volume variance. Include your calculations and conclusions to present at the next board meeting.
For the sake of this assessment, imagine that all four of the documents you prepare will be archived in the county board’s records. Remember, too, that the prompt and effective decisions of the board will depend on the clarity, accuracy, and readability of these documents. You want each of them to be clear, well-organized, and readable.
Faculty will use the scoring guide to review your deliverables as if s/he were on the board of directors. Review the scoring guide prior to developing and submitting your assessment.
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