Justice Avant-Noble Pub Admin Unit Three Project
docx
keyboard_arrow_up
School
Colorado Technical University *
*We aren’t endorsed by this school
Course
2012104B01
Subject
Information Systems
Date
Apr 3, 2024
Type
docx
Pages
4
Uploaded by KidTitaniumCat8
Unit Three Project
Justice Avant-Noble
Colorado Technical University
PBAD201: Public Administration
Danita Ayers
02/25/2025
Unit Three Project
Budgeting is an important part of an organization. The budget tracks expenditures and it can help save for future goals and unforeseen expenses. When dealing with money there is a lot of ethics and accountability involved which is why it is important to keep track of the money being spent, made, and saved. Budgets can be utilized by groups, organizations, individuals, and governments. Accountability provides oversight for those in charge of the money. There have been many financial scams but those committed by municipal and government employees and contractors and nonprofit and
private organizations are looked at differently and with much more scrutiny. Performance is an important part of budgeting because it tracks how well the budget is working for the set guidelines of that organization. Different types of audits that an organization might encounter depend on the available amount of disposable funds that the organization might have. The types of audits include the focus of federal, local, and state expenditure funds or specific program implications.
For-profit organizations are expected to create, submit, and manage a budget because they serve the public. Accountability is necessary because they are responsible for a few things concerning the public’s needs. When there is no accountability for the budget; funds can be misused and cause unkempt records. For that reason, some spending approval steps request supervisory and managerial reviews before approval can be given. Auditing helps to evaluate the budget and its efficiency. Different types of audits have focus areas, but all areas explore and analyze the financial transactions of organizations. “For-profit entities usually do not have access to governmental funds (state, local or federal), but utilize their profits from which they operate.” (Board, E. 2016) When a budget has no accountability it cannot only hurt the for-profit company but can cause a ripple effect that could also hurt nonprofit organizations. The 1990s Enron case led to more regulations for accounting requirements
for every entity to help create accountability. For-profit organizations are measured by a performance-
based budget. If a program service is provided to a community with space for 100 participants and only
35 people sign up to participate and draw more people in within a certain amount of time (depending on the organization's standards) the funds can be withdrawn from the program and allocated to other programs that need it. Non-profit organizations are in the business of focusing on numerous social causes and advocacies instead of running a for-profit business. Nonprofit organizations “are permitted to develop a
surplus in revenues, that surplus is required to be retained by the organization and be utilized for its sustainability and expansion.” (Board, E. (2016). These organizations are audited more severely because
of possible funding sources but also because they tend to receive government and municipal funds. More subject to internal control and oversight with nonprofit organizations.
Government organizations consist of local, federal, and state government agencies also referred
to as public agencies. “Oversight of grants whose funding source may be state or federal government agencies require specialized compliance audits as well as audits that focus on internal controls and adherence to company policy and procedures.” (Board, E. (2016). Public agencies require specialized compliance audits and internal audits to provide oversight to see to it that policies and procedures are being followed. Public agencies' accountability must be responsible for the public and their welfare. If an
organization were to be accused of fraud it would be assumed that there was no oversight being done. Public agencies play a big role in holding themselves, nonprofit and for-profit organizations accountable because these agencies supply a lot of money via grants and fundraising.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
References
Board, E. (2016). Introduction to Public Administration. Words of Wisdom, LLC. https://coloradotech.vitalsource.com/books/9781945554704
Last Name, C. D. (Year). Book Title (Edition).
Publisher Name. URL
. Last Name, D. E., Last Name, F. G., Last Name, H. I. (Year). Report Title (report number). Publisher. URL
.
Last Name, J. K. (Year, Month Day). Article Title/Headline
. Periodical. URL
.
Organization Name. (Year, Month Day). Webpage Title
. URL
.
For additional information on APA Style formatting, please consult the APA Style Manual, 7th Edition
.