At first glance, budgeting might appear to be all about numbers, and in fact most of the work involved in preparing a budget is very technical. However, it is important to understand that public budgets are not simply technical, managerial documents; budgets are also intrinsically and appropriately political. Budgeting involves the conflict over who pays for and who benefits from the activities of government. This course provides an overview of the governmental budgetary process while focusing on the tools and techniques for managing budgets and making financial decisions in government.

Looking at all three levels of government--local, state, and federal—this course examines the role of the budget in the economy, the politics of the budgetary process, budget methods and reforms, sources and uses of revenue, and deficits and debt.

The first half of this course focuses on managerial accounting: tools for developing and implementing the plan. Topics include operating budgets, cash budgets, breakeven analysis, time value of money, capital budgeting, long-term financing and ethics in financial management.

The second half of this course focuses on financial accounting: tools for reporting on and analyzing an organization’s financial position and the results of its operations. Major topics include the preparation and analysis of financial statements (balance sheet, activity statement, and cash flow statement), government accounting and financial condition analysis.

This course examines the financial environment of nonprofit organizations, including budgeting, financial reporting, revenue diversification, and long-term fiscal sustainability. Special attention is given to arts and cultural nonprofits and the unique financial challenges they face.