RI Budget questions, accounting homework help

The State of Rhode Island publishes its budget and the supporting information at http://www.omb.ri.gov/budget/index.php. Access the budget and answer the following:

  • What are the duties of the budget office? (Hint: Use the Primer link.)
  • What are the six governmental functions listed in the budget?
  • What are the major sources of Rhode Island’s revenues?
  • What is the accounting basis used in the preparation of the budget? (Hint: Use the Primer link and scroll down until you see the Budget Basis section.)
  • The budget mentions four categories of program performance measures. List them, and briefly describe how they are used in Rhode Island. (Hint: Use the Primer link and scroll down until you see the Program Performance Measures section.)
  • What did you learn from reviewing the most recent budget of the State of Rhode Island?
  • What do you think the biggest challenges are when it comes to preparing their budget?

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