PA 581 Quiz Week 3 Keller

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PA 581 Quiz Week 3 Keller

PA 581 Quiz Week 3 Governmental Budgeting
and Finance Keller
(TCO A) Which of the following statements
describes the relationship among federal, state,
and local governments?
Local governments are closest to the people and
have only those powers granted to them by the state

States receive all of their powers from their state

constitution
The states have residual powers that are implied for
local government
The federal government does not have residual
powers that are implied for the states
(TCO A) Logrolling is the process where:
An appropriation is made to fund localized projects
secured solely or primarily to bring money to a
representatives district
One legislator trades a vote on one issue in
exchange for the vote of another legislator on a
separate issue
Campaign contributions are used to secure a
legislators vote on a particular issue

Media campaigns are initiated by special interest

groups to sway public opinion on an issue
(TCO B) Current-dollar government purchases
were $1,500 billion in 2010. With 2000 as the
base year , assume the price deflator for 2010 is
175 (or, 1.75 if you dont multiple by 100). In real
dollars, the year 2000 government purchases
would be which of the following (rounded to the
nearest billion)?
$714 billions
$857 billions
$1750 billions
$2188 billions
(TCO B) Current-dollar government purchases
were $1,250 billion in 2010. With 2000 as the

base year , assume the price deflator for 2010 is

175 (or, 1.75 if you dont multiple by 100). In real
dollars, the year 2000 government purchases
would be which of the following (rounded to the
nearest billion)? (Points : 4)
$714 billions
$1250 billions
$1750 billions
$2188 billions
(TCO C) The largest portion of local government
expenditures is:
Police and corrections
Parks and recreation
Streets and roads

Elementary and secondary education

(TCO C) Appropriation to the State Library
System (fiscal year starts July 1) for fiscal year
201x was $24,000,000.
Q1 $5,750,000
Q2 $7,000,000
Q3 $5,250,000
Q4 $6,000,000

(TCO C) Appropriation to the State Library Syste

was $21,500,000. Quarterly

Q1 $4,250,000 Q2 $5,500,000 Q3 $5,750,000 Q4 $

expenditures of $8,750,000 and encumbrances of $600,000.

of Library System spending as

Operations were fully consistent with plan Over plan
by $400,000 Under plan by $400,000 Under plan by

$800,000 On December 31, 201X, budget reports

showed expenditures of $12,500,000 and
encumbrances of $800,000. Taking
encumbrances into consideration, what is the
status of Library System spending as of
December 31?
Operations were fully consistent with plan
Over plan by $550,000
Under plan by $550,000
Under plan by $650,000
(TCO B) List and describe the four basic
elements of the presidents budget.
The four basic elements to the presidents budget
are the budget message, several summary
schedules, detail schedules, and

(TCO A) Name and describe the major steps in

the executive budget preparation process.
Here are the major steps in the executive budget
preparation process. The first one is a timetable or
(TCO B) Here are the annual personal benefits of
a proposed Dog Romp Zone (DRZ) as perceived
by Ann (A), Bob (B), and Chris (C):
Individual
Ann
Bob
Chris
The overall annual total cost of the DRZ is
$900. Does the DRZ represent a potential Pareto
improvement? Incorporating numbers into your
answer, say why or why not. (4 points) Suppose

each individual will be assessed an equal share

of the annual total cost. Will the project be
approved in a majority-rule voting process?
Incorporating numbers into your answer, explain
why or why not. (8 points) Devise a costallocation scheme for A, B, and C that would
ensure passage of the proposal in a majorityrule voting process. Explain why your scheme
would work. (8 points)
Individual Benefit Cost Share Differential 1 500 300
200 2 250 300 -50 3 200 300 -100 Total 950 900 50
This project is economically feasible
(TCO B) Define and describe the following
budget terms:

Budget Cycle

Executive Preparation

Legislative Consideration

Execution

Audit and Evaluation (20 points)

The following budget terms are as described; The
Budget Cycle is the recurring of events in a
budgeting process and the

(TCO C) A state game and fish agency wants to

invest in a new fish hatchery. It is estimated that
the cost of operating the system will be
$2,000,000 per year after a one-time installation
cost of $5,000,000 is incurred. The construction
period will be one year. Once the plant is
constructed and in operation, community
benefits are estimated at $4,000,000 per year.
The system would be financed by a property tax
increment placed on the business and
residential sectors. (6 points) Without

considering interest rates and discounting, how

long will it take for the community to break
even on this venture? SHOW ALL WORK. (4
points) What might be defensible logic behind
using revenues from fishing licensing and fines
from violators of fishing regulations, for the
financing mechanism as compared to, say, a
sales tax? (4 points) Write a brief oneparagraph budget justification to support this
project. [NOTE: I refer to the statement on Page
175 of the text, to wit. Well-developed budget
justifications are the key to successful agency
budget requests.] (4 points)
The first year expense = one time installation cost of
5,000,000 + the
PA 581 Case Analysis: U.S. Budget Week 4
Keller Prepare an analysis of funding levels for the

U.S. Government and its Department of Education,

identify trends as you look at the 2009 actual, and
2010 and 2011 amounts for outlays and receipts,
and relationship to the Gross Domestic Product
(GDP), and present a clear and concise conclusion
that recaps the highlights of the documents with final
remarks.
Preview:
To stabilize the financial system, the government
undertook a comprehensive, forceful and sustained
commitment by cleaning up legacy assets and
jumpstarting the provision of new credit. This was
expected to help build the peoples confidence in
financial institutions and markets. It has also
succeeded to the extent that small institutions have
received the