(1) EMERGENCY BUDGET REVISIONS (2) RE-RANKING THE FINANCIAL SINS

PART ONE

EMERGENCY BUDGET REVISIONS

In this week’s Learning Resources, you will read a scenario in which Walden Heights is faced with an unplanned event that requires emergency budget revisions to its city budget.For this Assignment, you will observe a broadcast of public comment at a City Council Meeting, and then you will be challenged to analyze the revenues and expenditures of its original budget and then adjusting the budget to both accommodate the expenses of the unplanned event and assure a balanced budget.

RESOURCES

Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.

WEEKLY RESOURCES

Required Readings

Budget Revision Resources

Mastracchio, J. (2017).

Water infrastructure funding: Getting the right fitLinks      to an external site.

. American City & County Exclusive      Insight, 1.

Infrastructure funding in the new budget environmentLinks      to an external site.

. (2019, April 1). Government Finance      Review, 35(2), 12.

McKinney, L. (2018).

Building resilienceLinks to an external site.

. Capitol      Ideas, 61(2), 42–45.

Document:

Walden      Heights Annual Budget

Download      Walden Heights Annual Budget

(PDF)

Writing Resource

Walden Writing Center. (n.d.).

Walden templates: OverviewLinks to an external      site.

.

https://academicguides.waldenu.edu/writingcenter/t…

MS Excel Resources

Microsoft. (n.d.).

Basic tasks in ExcelLinks to an external site.

.      

https://support.microsoft.com/en-us/office/basic-t…

(Previously read in Week 2).

Technology for Teachers and Students. (2017, April 24).

The      beginner’s guide to Excel – Excel basics tutorial [Video]Links to      an external site.

. YouTube.

Note: This media program is approximately 22 minutes.

• (Previously viewed in Week 2).

Walden Heights Resources

Walden University, LLC. (2022).

Walden Heights [Multimedia]Links to an      external site.

. Walden University Blackboard.      

https://waldenu.instructure.com

Go to the Walden Heights interactive city and click on the location marker of Walden Heights City Council Chambers. From the drop-down, access and review the current “Walden Heights Annual Budget” and “Emergency Budget Revisions Scenario” video.

TO PREPARE

Review the “Emergency Budget Revisions Scenario” in the      Learning Resources.

• Go to the Walden Heights Planning Office and review the “Walden      Heights Annual Budget” line items. Consider what changes in revenue and      expenditures you might make to adjust and balance the budget in response      to the Walden Heights unplanned event.

Download and use the Graduate APA Course Paper Template for      this week’s Assignment, accessed from the Learning Resources.

ASSIGNMENT (3–5 PAGES, NOT INCLUDING TITLE PAGE, REFERENCES PAGE(S), AND EXCEL BUDGET DOCUMENT):

Use Excel to create a modified Walden Heights annual budget      with budget line items showing your proposed changes in revenue and      expenditure, as appropriate.  Ensure the budget remains balanced.

In a 3- to 5-page paper describe the proposed changes and your      justification.

Support with citations and references to the Learning Resources      from throughout the course, and other credible sources.

• Be sure to support your Assignment with specific references. In addition to the Learning Resources, search the Walden Library and/or the internet for peer-reviewed articles to support your Assignment. Use proper APA format and citations, including those in the Learning Resources.

PART TWO

RE-RANKING THE FINANCIAL SINS

For this Assignment, you will re-rank the 7 deadly sins you ranked in the Week 1 Discussion, based on the “The 7 Deadly Sins of Public Finance” described in the Farmer (2014) article by the same name. As you re-rank the 7 deadly since, you will reflect on everything you learned in this course regarding public finance, decide if what you learned affected your rankings, and then once again rank the seven deadly sins from worst (i.e., a ranking of 1 is the least forgivable) to best (i.e., a ranking of 7 is the most easily forgivable) and your rationale for your rankings.

RESOURCES

Be sure to review the Learning Resources before completing this activity.
Click the weekly resources link to access the resources.

WEEKLY RESOURCES

Mikesell, J. L. (2018). Fiscal administration (10th      ed.). Cengage Learning.

Chapter 15, “Debt Administration”
Note: Read only the following sections:

Ratings

Credit Enhancements

Underwriting, Interest rates, and Ownership

Lease-Purchase Finance and Certificates of Participation

When Government Finances Go Horribly Wrong: Debt and Other        Claims

Default

Receivership/Emergency Managers

• Bankruptcy

Repudiation

Conclusion

Farmer, L. (2014, May 21).

The 7 deadly sins of public finance. Links to an      external site.

Governing.

https://www.governing.com/finance101/gov-deadly-pu…

(Previously read in Week 1)

TO PREPARE

Reflect on everything you learned in this course regarding      public finance and whether what you learned affected your rankings of the      7 deadly sins you ranked in the Week 1 Discussion. Consider how you might      re-rank the seven deadly sins from worst (i.e., a ranking of 1 is the      least forgivable) to best (i.e., a ranking of 7 is the most forgivable)      and your rationale for the rankings. Note: Each of the      seven deadly sins must have its own unique ranking; no deadly sin should      have the same ranking as another deadly sin(s).