Budget Formulation (BUDG7101)

Budget Formulation

Budget Formulation

Description:

Master the skills necessary to build an accurate and defensible budget compliant with budget-related legislation and the strict standards of the Office of Management and Budget (OMB). Learn how to define outcomes and other performance measures, gather the data necessary to prepare a budget, identify the dollar resources needed to attain the performance outcomes, and present and defend your budget.

This course is part of the Master Certificate in Federal Financial Management (MCFFM).

Who Should Attend?

Budget analysts, financial management specialists and program managers who assist in the preparation of their organization's budget submission and compile cost data and other information to contribute to decisions about future program activities, funding and budget strategies. Participants should be familiar with budget principles as taught in Introduction to Federal Budgeting (BUDG7001A).

This course contains practical case exercises that can be completed using Microsoft Excel.  If available, please bring a laptop containing Excel software to class with you.  If you do not have access to a laptop, or you do not have a basic knowledge of Excel, the exercises can be completed using a hand calculator.

Tuition:

$ 989.00

Credits:

24.0 CPE's

Class Type:

This course is currently being offered in the following training modalities:

Learning Outcomes:

  • Effectively use essential budget concepts and terminology
  • Implement effective tools and techniques in documenting, presenting and justifying a budget
  • Explain the relationship between the current and prior year budgets and the strategic plan
  • Use effective techniques for formulating a budget that adhere to the requirements set forth in the Office of Management and Budget (OMB) Circular A-11
  • Describe the presidential and congressional directed performance evaluation process
  • Describe the steps for building a budget and effectively determine budget requirements that reflect the mission and strategic plan of your program
  • Develop a performance budget in accordance with the requirements of the Government Performance and Results Act of 1993 (GPRA) and the GPRA Modernization Act of 2010

Register For Online Course

  

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Day one of three

  • Federal Budget Overview

    • The changing budget environment
    • The size and composition of the federal budget
    • The federal budget process
    • Purposes of the federal budget
    • Purposes of the organizational budget
  • Overview of Agency and OMB Budget Formulation Activities

    • Agency formulation and review activities
    • The role of OMB and the President
    • Purpose and contents of OMB Circular No. A-11
    • Purposes of budget schedules P and O

Day two of three

  • Preparing to Build a Performance Budget

    • The relationship between GPRA, the GPRA Modernization Act, and budget formulation
    • Using agency policy guidance
    • Understanding GPRA and GPRA Modernization Act terms
    • Assisting your agency in developing a strategic plan
    • Specifying performance in a performance budget
    • Writing performance related documents
  • Budget Formulation Techniques

    • Applying OMB Circular No. A-11 in the budget formulation process
    • Developing objects of expense (Object Class) estimates
    • Developing estimates for personnel costs and full-time equivalents (FTEs)
  • Formulating a Performance Budget

    • Case Exercise: Developing a budget for a hypothetical organization

Day three of three

  • Formulating a Performance Budget (Continued)

    • Case Exercise: Developing a budget for a hypothetical organization
  • Documenting, Presenting and Justifying a Performance Budget

    • Presenting and defending your budget
    • Making adjustments as a result of a “pass-back” to your budget
  • Course Summary and Recap

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