Final paper Week 10 assignment 4

Running Head Financial Plan

FINANCIAL PLAN 4

Kristin Velix

Strayer University

Sunday, February 18, 2018

Dr. Neely

PAD 505

Fastest Expenditure:

On all the budgetary allocations for the expenditure categories in the Martin City Budget, it is noted that the expenditure on the budget ranges from the Capital assets to education and the Transportation expenditure in the county government. The total amount of the expenditures at the county currently stands at $1,516,182,209 with the operating and the maintenance expenses standing at $921,975,826 forming the most significant cost in the county.

The percentage that is allocated to the transportation section forms the most growing expenditure on the budget allocation of the county. The total spending on the transportation projects at the county was at 39% totaling up to $521 million. This becomes the most extensive capital project on the expenditure of the county (Kannan, M.2013).

Sources of Revenue

The General property tax in the county has formed the most significant contributor in the organization regarding revenues; $192,281,938 of the property income tax gives it a percentage 12.6% of the total budgetary allocation building a key contributor in the financial expenses and expenditures. Since 2017 the financial has factored in the various aspects of the tax funding followed by the debt funding in the county. The property tax rate in 2018, therefore, stood at $1.135 per $100.Forming a key part of the county revenues. The tax growth rate increases exponentially.

Evaluation of the Existing Capacity

The general total debt in the county currently stands at $1,147,481,200 in dollars having factored in both the General Obligation Financing and the Lease Revenue Financing holding at $1,008,996,200 as at 2018 budget and financial plan. Determination of the debt Management in the county seeks to bring about various suggestions in a bid to curb the federal debt or be able to do away with the significant public debt. Through the creation of the new plans and grants, the county has been able to bring about a consolidation of bodies for the county. Through the various activities and programs, federal bureaucracy will enable the decrease of the general federal debt to a maintainable level. The commerce division has also managed to come up with a model that aids in the savings through budgetary advancements and the apportionments be made in a bid to reduce the national debt.

In handling the General national deficit, the financial plan aims at bringing down the level of the GDP (Berney, R.1968). This proposed approach by the Division of Commerce aims towards achieving a 16%b decrease in the fiscal plan. This will also position the county where gradually decrease in the public debt. The exclusion of the low plans for the budget and having to focus the finances on critical budget sections paves the way for the debt reduction.

Alternative Funding

The other alternative funding that could be used in the county to manage the debts and create new sources of financing includes the decrease of the various grant plans. In doing so, the deficits will reduce while still ensuring that the key goal and the primary targets of the divisions involved, maintaining the key objective of the grant is kept and achieved in the organization.

Another alternative as per the Division of Commerce proposes for the elimination of the minority enterprise advancement bureau due to its nature of operation relative to the deferral plans.

Through the federal financing, the program considers production expansion in the county was bringing about savings amounting to $120 million. Therefore, having done away with the national funding, the new strategy will be able to bring about non-national sources of income in the county. The savings will hence act as a key source and alternative that can be used to manage debts and expenditure in the county (Hammonds, H. 2006).

References

Australian Capital Territory., Kannan, M., Kelly, D., Prasad, A., & Stanton, B. (2015). Debt management.

Berney, R. E. (1963). Debt management. Ann Arbor, Mich., University Microfilms. 

Hammonds, H. (2006). Budgeting. South Yarra [Vic.: Macmillan Library. 

https://app.grammarly.com/docs/268025956

http://www.martincountyncgov.com/finance

1