Essay Sample on 2020 Rhodes Budget: Investing in Education & Basic Services

The enacted 2020 Rhodes budget highlights important areas for resource investment. Funding is expected to support education and basic services in the government. The capital local budget of Rhodes Island recommends investing in basic projects including transportation, education, assets maintenance, state recreational maintenances as well as investing in outdoor areas (NASB, 2019). With a heavy tone, the budget emphasizes developing a workforce necessary for improving education which expands its economy.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Fund request is referred from the regular budget in the college along with recurring costs that must be presented to the finance vice president. Educational capital expenditure is derived from the replacement and renovation budget (NASB, 2019). They are then presented to the Dean or vice president for approval. Condition for requesting overcharge funds are quite different, funding originates from the emergency fund. Approval of the budget funding is through the dean or Vice president. Budget approval by the vice president is on 1st May every year for all expenses above $400 (Raimondo, 2020).

Raimondo (2020) suggested that the FY 2020 budget of the Rhodes Island targets investing in education, workforce, and economic investment amounting to $9.9. The presentation also provides an out-year budget; there is a range of programs contained in the Rhodes FY 2021 budget. With a proposal on sustainability, a strong framework has been built by the state to see economic development through employment creation. To my understanding, the budget provides other relevant information, for instance, agencies' fund request and approvals. Besides, the presentation differentiate various agencies with their roles; for instance, education 21%, transportation 26.4%, public safety 16.5%, natural resources 5.0%, human service 2.5%, and general government 28.0%. A recommendation of $153.5 million fund expenditure resulting in an opening balance to be allocated in 2021.

By the provision of a fund plan, the various allocation is justified by every agency task. For instance, health, natural resource, and human services investments account for 2.5-5.0% of all Rhode's budget expenses (Raimondo, 2020). Since the funds budgeted in the presentation are against the agencies' task, it is quite easy and transparent to follow how funds are invested. However, although funds are allocated to the various agencies, it is important for the budget to show finance sources.

References

Raimondo M. (2020). Capital budget. State of Rhode Island and providence plantations. Retrieved from http://www.omb.ri.gov/documents/Prior%20Year%20Budgets/Operating%20Budget%202020/0_FY%202020%20Capital%20Budget.pdf

National Association of State Budget (2019). The fiscal survey of states. Retrieved from https://higherlogicdownload.s3.amazonaws.com/NASBO/9d2d2db1-c943-4f1b-b750-0fca152d64c2/UploadedImages/Fiscal%20Survey/NASBO_Fall_2019_Fiscal_Survey_of_States_S.pdf