Often, part of a government agency’s budget is devoted to capital projects. No matter how well a...

Question

Often, part of a government agency’s budget is devoted to capital projects. No matter how well a project and its costs are planned for, there are always residual effects on the budget and on future budgeting practices. In this assignment, you’ll overview a government agency’s project, including its effects on the agency’s budget, and you’ll consider practices and requirements to support accurate reporting of projects.

Researcha state or local government capital project (e.g., new building or structure, park improvements, road improvements, addition to a municipal building), the agency that is responsible for the project, and the operating budget for the agency.

This assignment has the following requirements:

Write a 1,050- to 1,400-word APA-formatted paper.

AND

Create a 14- to 16-slide Microsoft®PowerPoint®presentation with speaker notes and/or narration.

Addressthe following in your paper or presentation:

Give a brief overview of the chosen government capital project and of the agency responsible (i.e., size and responsibilities).

Explain the advantages, disadvantages, and residual effects of the project on the agency's operating budget.

How does the project affect the debt in the short and long term?

How does the project affect operating expenses in the short and long term?

Explain how the operating expense for the project differs from government debt items.

Identify how the agency included training resources in their budget for the project. If they did not include training resources, propose how the agency could or should address training in their budget.

Describe any evidence that the agency employed accurate reporting practices for the project. Would you suggest any differences in their approach? If accurate reporting practices are not evident, what should the agency do to ensure accurate reporting?

Summarize your findings about the effects of the capital project on the operating budget, and make recommendations for improvement.

Citea minimum of 2 peer-reviewed sources.

Formatyour citations according to APA guidelines.

Submityour assignment.

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Prince · Accepted Answer

Research on Government Capital Project
Student Name
27th Jan 2023
a. A succinct description of the government capital project selected and of the competent agency:
The government capital project is the responsibility of the Department of Parks & Recreation. Parks, trails, & open spaces must be maintained and improved by the agency. The agency's operating budget is $1.2 million.
Increased expenses for staffing and equipment, in addition to increased costs for operations and maintenance are some possible implications of this project here on agency's budget. The agency can also be required to upgrade current infrastructure or buy new land as part of the project.
The agency should create a comprehensive and transparent project plan that details all project expenditures in order to facilitate accurate reporting of projects. Additionally, the agency needs to keep track of all project expenses and costs and frequently report them to decision-makers.
b. Advantages, disadvantages, and residual effects of the project on the agency's operating budget:
In terms of the agency's operating budget, the project will benefit from increased user fees, greater tax revenues, as well as economies of scale. The project could potentially improve the effectiveness and efficiency of the agency's activities. To make sure the project is keeping its financial commitments, the agency should keep account of all income and expenses related to it.
Increased expenses for operations and maintenance, as well as increased expenditures for personnel and equipment, are some potential negative effects of the project upon that agency's operational budget. The agency can also be required to upgrade current infrastructure or buy new land as part of the project. The agency must monitor all project-related income and expenses to make sure the project is meeting its financial commitments in order to counteract these potential drawbacks. The organisation must also create a detailed project plan that details every expense related to the project.
Increased expenses for employees and equipment, as well as increased costs for operations and maintenance could be some of the project's lasting implications on the agency's operational budget. The agency can also be required to upgrade current infrastructure or buy new land as part of the project. The project may also affect the agency's reputation in a positive or negative way. The agency should create a clear and comprehensive project plan that covers all project costs in order to facilitate accurate reporting of the project's effects upon that agency's budget. Additionally, the agency must keep track of all project-related income and expenses and report them frequently to decision-makers.
c. Project's short- and long-term effects on debt:

Often, part of a government agency’s budget is devoted to capital projects. No matter how well a project and its costs are planned for, there are always residual effects on the budget and on future...

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