Budgeting in the Management of an Organization

Budget Proposal Reflection
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Budget Proposal Reflection
Budgeting is an important process in the management of an organization. Therefore, it is vital to have proper measures or policies to guarantee proper estimates and eliminate inconsistencies. The budget proposal was developed for a law enforcement agency with 2,700 workers and served a city of about 1.4 million people. There were diverse components of the budget proposal that were allocated funds based on the agency's specific needs. First, the budget included personnel expenses. This component comprises salary and wages, overtime, and fringe benefits and has $473 000 000. There was also a non-personal expense that was included in the proposal. This component entailed supplies, contracts, information technology, energy and utilities, other, capital expenditures, and non-discretionary. The total expense or budget allocation was $67 090 000. The total budget for the agency was a total of $540,090,000. The allocation was based on estimates of the salaries and costs of the identified items and allowances provided by the law enforcement agency's laws and policies.
After reviewing the proposal and comparing it with the actual expenses of a law enforcement agency, I believe that the budget can be implemented in the real world. This is because all the essential components required to manage a law enforcement agency successfully have been considered. There were also considerations for miscellaneous expenditures that might arise during the day-to-day running of the agency. It is worth noting that the budget might be too expensive in the real world, so there might be a need to amend the figures and offer more realistic aspects of it. Moreover, the budget is a bit extreme for the identified population and workforce size, which might provide challenges during the funding process.
The guardrails are usually intended to offer a mechanism for tracking costs and expenditure and evaluate whether appropriate actions are taken to limit the cost to the identified budget allocation. Therefore, my primary guardrails limit excess costs and transferability of funds across unallocated items. I will be restricting expenditures of every aspect to the identified budget size. If there are excess needs compared to the funds available, it would be appropriate to inform the Treasury to increase that particular allocation and allow proper management of the agency. Another aspect that would result from the guard rails is enhancing accountability. Being accountable and adhering to specified laws is vital in managing law enforcement agencies. There is a need to create measures that will ensure integrity, openness, and easy follow-up on any expenditure or purchase made in the organization. There is a need to formulate policies and create measures to support the proper use of funds and safeguard them from expenditure leakages that the funding institutions or budget committee have never authorized. Therefore, these guardrails will ensure an account-level setting that determines targets for each component within a particular period. Another key has resource-level measures to control unnecessary expenditure and guarantee accountability. Fund will be release...