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Identify and explain one to two challenges you will have in managing a budget.

Refer back to the e-Activity in Week 3. From your local citys budget, select an agency, program, or department in your city, and that appears as a budget item in the city budget you downloaded in Week 3. Assume you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budget, program, and capital projects. As the administrator, you will be responsible for analyzing, examining, proposing, and preparing the agencys budget for the next five (5) years. 1. Provide background information about the agency, mission, goals, objectives, departments, and strategic plan. (Title this section Introduction.) 2. Describe the budget of the agency by addressing the following items: (Title this section Budget Overview.) Financial Summary, including Revenue and Expenditures Department Budgets Funding Capital Projects Debt Administration. 3. Perform a Cost Analysis. (Title this section Cost Analysis.) The costs should include the following: Fixed Costs Step-fixed Costs Variable Costs 4. Identify and explain one to two challenges you will have in managing the budget. (Title this section Budget Challenges.) 5. Recommend two to three strategies the agency should review regarding new initiatives and budget cuts over the next five years. (Title this section Budget Recommendations.) 6. Include the agencys most recent budget or financial plan. 7. Provide the agencys Website name, URL, and any other sources used to support the assignments criteria.