Approaches to Budgeting for Public Sector Organizations

Unfortunately, such forecasts are "as good or as bad as the power that serves as its foundation and the degree of correlation between the true direct and the forecast based on the power."2 Thus, a large volume of highly reliable data must be available if a valid and reliable index is to be constructed. A very high correlation (in the target of 90 percent) is required between sets of data used in the construction of indexes to be used for promise. This high correlation extremity is a major disadvantage associated with indexbased prognosticate of demand for most county services, including library services.

The best forecasts are those developed through the application of statistical procedures. Among the major statistical forecasting procedures are the following: (1) trend line projections; (2) cyclic demand projections; (3) curvilinear regression projections; and (4) exponenti all in ally weighted moving average out projections. Trend line projections and cyclic demand projections are especially useful to forecast the demand for countyprovided services.

Budgets and calculateing must be considered in two conceptual contexts. First, a compute may be considered as a noun.

When considered as a noun, a budget is a detailed financial plan for an organization, that (1) describes financial resources anticipate to be available to an organization during the period covered by the budget, (2) identifies anticipated sources of

In traditional budgeting processes, expenditures are initiated on an incremental basis, whereby a manager begins with the budget for the preceding period, and either adds or subtracts from those amounts as is appropriate. ZBB, however, requires a rejustification of all costs with each new budget. ZBB is, thus, defined as

5L. A. Austin, and L. M. Cheek, correctBase Budgeting: A Decision Package Manual, 3rd ed. (New York: AMACOM Publications, 1989), 3.

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