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.
If you would like to save the page you’re viewing as a PDF document, here are the steps:
Prepare for a potential IRS audit or compliance check by learning about common problematic issues for cities.
Learn which depositories a city may use and how to choose one.
Learn about property, crime, and petrofund coverage offered by the League of Minnesota Cities Insurance Trust.
Learn about liability (casualty) coverage offered by the League of Minnesota Cities Insurance Trust including its unique coverage offerings.
Understand auto liability, auto physical damage, no-fault, and uninsured / underinsured coverage offered by the League's Insurance Trust.
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.