1 You have been elected to the town council for a small town where its previous budgeting system has been universally viewed as a failure. As part of your new role, you have been tasked with developing a new system from scratch. How would you recommend your town structure its budgeting system, including its form, process, system, techniques, and key policies? Why would you recommend these choices?

2 Although your organization failed to secure the grant from the budget assignment, the program officer was impressed by some of your materials. The state is now implementing performance based budgeting for all of its grant-making programs, and she approached you to serve as consultant to evaluate the winning organization. Develop a performance evaluation approach for this role and a budget that will fund your labor and other necessary costs as a proposal for the program officer to consider.
3 From the Taos Museum case study (p. 301-303), prepare a monthly cash budget for the coming year that assumes you will expand to host the Smithsonian collection. In doing so, assume you will need to pay all of the renovation costs in the first month of the year. Use all other revenue and expense projections from the case to develop the cash budget, paying attention to seasonal variation. Based on this budget, when do you anticipate the museum facing potential cash shortages? How do you recommend the museum respond to mitigate these shortages?

4 Continuing with the Taos Museum case study (p. 301-303), make a case for whether or not the museum should upgrade its facilities in order to house the special collation of Navaho crafts. In making your recommendation, calculate the net present value of the additional visitors attracted during the five years of hosting the exhibit. Use the same variable costs, visitor mix, and gift store purchases rate presented in the case for other visitors. The discount rate is the museum’s cost of capital. Based on these calculations and the cost for housing the exhibit, would you recommend that the museum house it? Why or why not? If new visitor revenues are not enough to financially justify the cost of hosting it, how would you recommend the museum raise additional funds to support it?

5 A Presidential candidate recruited you as a policy analyst and wants you to recommend options for an attention-grabbing new proposal. This candidate views climate change as a critical challenge facing the world and wants to propose a new revenue source to fund mitigation efforts. Identify and evaluate three different alternatives, drawing on at least three different criteria for comparing the revenue proposals. Which of the three would you recommend to the candidate, and why?

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