FINANCIAL MANAGEMENT FOR PUBLIC, HEALTH, & NOT-FO

FINANCIAL MANAGEMENT FOR PUBLIC, HEALTH, & NOT-FOR-PROFIT ORGANIZATIONS, CH 1-3 Operating budget - correct answer -You want to show the monthly pattern of revenues, support and expenses resulting in either a surplus or deficit on an accrual basis Flexible budget - correct answer -You want to prepare a budget at three different sensitivity levels of pricing to see what might look like at each of those different price levels Cash budget - correct answer -You are interested in determining the cash inflows, cash outflows, and ending balance of cash for each month Performance budget - correct answer -You want to track the organization's performance on several key metrics that do NOT directly relate to financial performance Zero-based budget - correct answer -In order to reduce expenditures and maintain budgetary efficiency, you create a budget where all of the last period's line items are set to zero and justifications (ie: decision packages) must be made to fund each of the line items with the desired amounts Capital budget - correct answer -You prepare this kind of budget in order to determine whether to invest in a long-lived asset which will benefit the organization over a number of years Special (ad-hoc) budget - correct answer -Because it was not part of the Operating Budget, you prepare this budget when an unforeseen opportunity or problem arises and requires financial analysis Incremental budgeting - correct answer -This budgeting technique looks at the revenues and expenditures in last year's line items and adjusts them up or down for things like inflatio