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GFOA CPFO Capital And Operating Budgeting Exam Questions With 100% Correct Answers
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GFOA CPFO Capital And Operating Budgeting Exam Questions With 100% Correct Answers
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GFOA CPFO Capital And OperatingBudgeting Exam Questions With 100%
Correct Answers
CapitaliProjectiService-LeveliGoalsi-iCorrectiAnswer-
Theimeansibyiwhichiailocaligovernmenticaniillustrateitoiitsicitizensiwhati
leveliofiserviceicanibeiprovidediwithiavailableiresources.
NeedsiAssessmenti-iCorrectiAnswer-
Thisishouldiaddressianyigapsiiniserviceideliveryiandiformitheibasisiforiaic
apitaliprojectsirequest.
PubliciParticipationiSurveyi-iCorrectiAnswer-
Shouldibeiconductedieveryifewiyearsiwithisimilariquestionsieachitimeito
igaugeichangingiopinions.iQuestionsishouldithereforeibeidevelopediwit
hitheianticipationithatitheyiwillibeiusediforimanyiyears.
PubliciParticipationiCommunityiMeetingsi-iCorrectiAnswer-
Speakingiwithicommunityigroupsiwillishowitheipublicithatitheijurisdictio
niisitransparentiandiresponsiveiandiwilliencourageicitizensitoibecomeim
oreiinvolvediwithigovernment.
PubliciInformationiOfficeri(PIO)i-iCorrectiAnswer-
Ofteniresponsibleiforiwritinginewslettersiandipressireleases,imaintainin
githeijurisdictionsiwebsite,iandiansweringiinquiriesifromicitizens.
,BondiCommitteesi-iCorrectiAnswer-
Formediforicapitaliprojectsitoiprovideifeedbackionibondireferendums.
BondiReferendumi-iCorrectiAnswer-
Mayibeirequirediunderistateilaw,iisiuseditoihelpiensureitheilowesticostifi
nancing,iandioriconfirmitheipublic'sicommitmentitoiproposediprojects.
BondiCommitteeiMembersi-iCorrectiAnswer-
Typicallyiincludeiformerielectediofficials,irepsiofiotherigoverningibodies
,ibusinessiandienvironmentalileaders,icommunityiactivists,iandiclientsio
fitheiservice.
BondiCommitteeiResponsibilitiesi-iCorrectiAnswer-
Determiningitheisizeiofitheibondiprogram,iID'ingipotentialiprojects,ihold
ingipublicimeetings,iandiproducingiaireportitoielectediofficials.
EstablishingiGuidingiPrinciplesi-iCorrectiAnswer-
Beforeiprioritizingiprojects,itheigroupiasiaiwholeineedsitoidefineitheibro
adiguidingiprinciplesiforitheiprocess.iExamplesicouldiinclude:iequity,idiv
ersity,iinput,isustainability,iqualityiofilife,iaccountability,ioriaffordabilit
y.
EstablishingiProjectiScopei-iCorrectiAnswer-
Meansidefiningitheineediorineedsitheiprojectiisimeantitoiaddressi(temp
orarilyioripermanently),idecidingihowitheineedsiareitoibeiaddressed,iide
ntifyingianyiotherineedsiorigoalsithatiwillibeicreatedibyitheiproject,idefin
,ingiwhatitheiprojectishouldibeilike,iandidecidingiwhatishouldiandishouldi
notibeiincludediinitheiproject.
ScopeiCreepi-iCorrectiAnswer-
Caniincreaseitheiduration,icomplexityiandicostiofitheiprojectiwithilittleia
nd/orinoticeableiwarning.
ProjectiScopei-iCorrectiAnswer-
Mustibeicontrolledibyicarefulidocumentationiandiprojectimanagement.i
Beforeiapproval,iscopeishouldibeidefinedibyiaidetailedinarrativeiexplan
ationiwithisupportingiback-up.
ProjectiBudgeti-iCorrectiAnswer-
Williincorporateialliofitheicostsiassociatediwithitheiproject,isuchiasidesig
n,iconsultantifees,ilandiacquisition,isiteipreparation,iandiprojectimanag
ementiexpenses.
ConstructioniBudgeti-iCorrectiAnswer-
Includesijustitheiportioniofitheiprojecticostsithatiareipaiditoitheicontract
or(s).
ProjectiCostiEstimatesi-iCorrectiAnswer-
Moreiexpensiveioricomplexitheiproject,itheimoreiofteniaicostiestimateis
houldibeideveloped.
, ValueiEngineeringi-iCorrectiAnswer-
Systematiciapplicationiofirecognizeditechniquesiwhichiidentifyitheifunc
tioniofiaiproductioriservice,iestablishiaivalueiforithatifunction,iandiprovi
deitheinecessaryifunctioniatitheileastioverallicost.
CapitaliFinancingiCostsi-iCorrectiAnswer-
Mayibeichargeditoitheiprojectiandiincludediinitheidebtifinancingiorimayi
beiseparatelyifundedithroughitheioperatingibudget.
PriceiChangesiOveriTimei-iCorrectiAnswer-Aimulti-
yeariprojectiwillineeditoiincludeiinflationifactorsiduringitheiconstruction
iperiod.
RegionaliInflationiIndicesi-iCorrectiAnswer-
Generallyimoreiaccurateithaninationaliindicesiandiwillireflectiregionalila
boriandimaterialiprices.
CostiEstimationiPitfallsi-iCorrectiAnswer-
Costsithatiareioccasionallyioverlookediincludeimovingicostsiandiinflatio
n.
Marshall-SwiftiIndexi-iCorrectiAnswer-
Usesicertainiprojectiattributesitoiarriveiatianiestimatedicostiperisquareif
oot.iThisimeasureicanithenibeiapplieditoitheitotaliareaitoicalculateianiest
imatediprojecticost.
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