With regular budget and personnel cuts, managing community finances and making difficult budget decisions can seem daunting, especially when using a tedious, error-prone manual process for budget preparation, forecasting, allocation, and consolidation. Manual processes simply can no longer accommodate the level of data granularity required to make difficult budget decisions; requires months of time commitment every cycle, is prone to error, requires complete reprocessing if changes are made to existing financial models, and can not support certain mandated cost allocation methods. To combat the shortcomings of a manual budgeting process and increase understanding of how strategic goals are translated into dollars, local and state governments are implementing a more transparent and efficient budgeting system: performance-based budgeting (PBB). In this white paper, you will learn how performance-based budgeting improves cost-efficiency and manages effective budgeting outlays, increases visibility into how government policies translate into spending and makes systematic use of performance information. This white paper will answer the following fundamental questions: --What is Performance-based Budgeting (PBB)? --How does PBB link budgets to results? --What are the benefits of implementing a PBB framework? --What are the main drivers to PBB adoption? --What are the maturity levels in PBB? --How can a software tool help?

Advertisement