How can local governments make budget preparation easier through the use of new technology?
Deshpande: Once a local government decides to update its budgeting system, implementing software technology into an existing financial system is a three-part process: 1) First, the software is modeled after the citys organization and account structure. The software includes important operational parameters such as employee compensation and benefits, as well as business processes the city has established. 2) Historical data from the current accounting system is then gathered for incorporation into this custom model. 3) After the information is retrieved, this historical data is loaded into the system. Typically, the next years starting budget will be six months of the current years actual data plus the last six months of the prior years actual data or current years budget. From this starting point, department leaders help detail this information including positions for hire, expenses and budget requests. Using this new technology makes budget preparation easier and more accurate. It giv
