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Management 2 Pages



Respond to each of the following questions:

  1. Why does the definition of budget matter to you and to your future work?
  2. What does "no margin, no mission" mean? After your readings for this week, what do you think the tensions are between mission and market?
  3. In reading the article about University of New Hampshire, what stresses, outlined in Barr and McClellan, exist in this case?

Title: Budgeting
Length: 2 pages (668 Words)
Style: APA


Question One

Budgeting is responsible for accounting and control of funds that are entrusted to institutions by taxpayers, donors and students (Palmer, 2014). Despite the process being time consuming, it is guided by public statues and accounting principles that specify how and when the budget ought to be reported. Second, the budget is a reflection of how unrestricted resources or those that are not secured by law decisions are assigned to aid the organization in achieving its mission. Therefore, it assures fiscal accountability and reflects explicit or implicit theories of resources utility optimally according to the institution’s purpose.


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