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<br />PREFACE <br /> <br />A budget is a work program and financial plan for a given period based upon an estimate of income <br />as to amounts and sources, and an estimate of proposed expenditures as to amounts and <br />purposes, the total of which should not exceed the total resources (income plus cash on hand). <br /> <br />Revenue accounts are classified in order to aid in (1) preparation and administration of the budget, <br />(2) preparation of fináncial statements, (3) tabulation of revenue, and (4) establishment of <br />comparable financia.1 s~atistics. <br /> <br />Expenditures are classified to ensure that money is expended economically, to prepare financial <br />statements, to secure information to be used in estimating the expenditures for a fiscal period, to <br />control appropriations, and to compile comparative financial statistics. To obtain all the required <br />information, accounts are classified by function, activity, organization units, character and object. <br /> <br />Records maintained by cities should conform to national standards for the following reasons: (1) <br />A system based upon records which have been developed by agencies of national scope after <br />considerable research and consultation will, if properly adapted, be far superior to a system based <br />solely on the limited experience of a single city. (2) Use of nationally accepted records will allow <br />the gradual development of a valuable body of statistical knowledge about American cities, <br />compiled by cities on a comparable basis. <br />