
Finance: The Budgeting Process
[FREE COURSE] This course designed specifically for small cities provides an overview of the budgeting process.
Responsible management of city money is crucial to good government. Learn about budgeting, deposit and investment of city funds, managing costs of city liability and risk exposures, financial auditing, financing local improvements, accounting and reporting.
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Learn about setting rates for municipal utilities, on what basis cities may make charges, and method for collecting payments due.
Has basic information on routine financial tasks cities must perform like use of funds in accounting and internal control procedures.
Read about commonly used and authorized financing tools for cities to fund local improvements and economic development.
Explains the League of Minnesota Cities Insurance Trust’s (LMCIT’s) experience rating formula.
Learn the characteristics of city budgets as a work plan and communication tool. Understand the budget cycle.
Options for saving costs by reducing staff through furlough or layoffs. Describes alternatives such as hiring or wage freezes.
Understand city exposure to lawsuits and the state statutes and judicial decisions that limit liability.
Learn about new state and federal laws that significantly affect city budget decisions.
Learn about liability (casualty) coverage offered by the League of Minnesota Cities Insurance Trust including its unique coverage offerings.
Insurance helps pay lawful claims and defend against meritless claims. Loss control measures aim to reduce injuries and claims.