![]() The analysis should include any changes to goals/initiatives since budget adoption and are there any new initiatives not initially included in the budget. Governments should incorporate into their budget monitoring process an examination of performance measures and linkages to financial outcomes. How is the broader context of prices for labor, services, commodities and other items impacting expenses versus the budget? Governments need to monitor the budgets of capital projects as well – see GFOA's Best Practice on ' Capital Project Monitoring and Reporting.' Are services being provided as anticipated? Are any services being provided that were unanticipated? What trends are being observed that may impact whether or not spending remains on track? Governments need to analyze draw down of encumbrances, outstanding purchase orders, and its major contracts to develop a better picture of not only what was spent, but what remains to be spent. Monitoring needs to include more than just current expenses. And whether fringe benefit costs are within budgeted expectations as well. In addition, conduct analysis of re-class/promotions to see if on-track with expectations. Examine additional detail beyond just regular payroll expenses, including analysis related to hiring and vacancy information and also, depending on magnitude, analysis of part-time, overtime, leave pay out and special pay. Governments need to carefully monitor all expenditures as well – including one-time uses and also examining key aspects of the following: Review of patterns at other similar/related governments.Changes in policy/practice of overarching governments involved in disbursement of revenues. ![]()
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