AUGUSTA GEORGIA'S CITY BUDGET

Analyze the Augusta Georgia's 2010 City Budget

Analyze the Augusta Georgia's 2010 City Budget

Budgetary process

All division head personnel and supervisors have access to our Fund Management software so they can monitor and print reports as needed to keep a perceptive overview of their budgeted accounts. Monthly the Accounting Department issues financial reports to the City Commission, City Manager and Finance Director. These reports are used as tools to summarize the financial position of the city (Inter-American Development Bank, 1997). These reports include both expenditures and revenues for all budgets as they relate to the allocations on a month-to-month basis. The goal of 8.33% used each month from the normal operational expenditures is a guide for all departments. Also, a synopsis of the cash on hand for each fund (including all grants and capital improvement funds) are included to show the financial status of the organization. The City Manager, Finance Director and department heads review these reports and take the necessary steps within their power to correct any deficiencies and, if necessary request budget amendments.

Budget Highlights of Georgia Augusta for 2010

GDP (purchasing power parity):

$22.44 billion (2010 est.)

country comparison to the world: 121

$21.1 billion (2009 est.)

$21.93 billion (2008 est.)

note: data are in 2010 US dollars

GDP (official exchange rate):

$11.67 billion (2010 est.)

GDP - real growth rate:

6.4% (2010 est.)

country comparison to the world: 46

-3.8% (2009 est.)

2.4% (2008 est.)

GDP - per capita (PPP):

$4,900 (2010 est.)

country comparison to the world: 149

$4,600 (2009 est.)

$4,700 (2008 est.)

note: data are in 2010 US dollars

GDP - composition by sector:

agriculture: 10.4%

industry: 28.7%

services: 60.9% (2010 est.)

Labor force:

1.918 million (2007 est.)

country comparison to the world: 123

Labor force - by occupation:

agriculture: 55.6%

industry: 8.9%

services: 35.5% (2006 est.)

Unemployment rate:

16.4% (2009 est.)

country comparison to the world: 153

13.6% (2006 est.)

Unemployment, youth ages 15-24:

total: 35.52%

male: 32.4%

female: 40.66% (2008)

Population below poverty line:

31% (2006)

Household income or consumption by percentage share:

lowest 10%: 2%

highest 10%: 31.3% (2008)

Distribution of family income - Gini index:

40.8 (2009)

country comparison to the world: 58

37.1 (1996)

Investment (gross fixed):

15.4% of GDP (2010 est.)

country comparison to the world: 132

Budget:

revenues: $3.291 billion

expenditures: $4.063 billion (2010 est.)

Taxes and other revenues:

28.2% of GDP (2010 est.)

country comparison to the world: 98

Budget surplus (+) or deficit (-):

-6.6% of GDP (2010 est.)

country comparison to the world: 172

Inflation rate (consumer prices):

7.1% (2010 est.)

country comparison to the world: 179

1.7% (2009 est.)

Central bank discount rate:

8% (25 December 2008)

NA% (31 December 2007)

note: this is the Refinancing Rate, the key monetary policy rate of the Georgian National Bank

Commercial bank prime lending rate:

24.213% (31 December 2010 est.)

country comparison to the world: 9

25.521% (31 December 2009 est.)

Stock of narrow money:

$1.174 billion (31 December 2010 est.)

country comparison to the world: 134

$1.112 billion (31 December 2009 est.)

Stock of broad money:

$2.146 billion (31 December 2010 est.)

country comparison to the world: 139

$1.28 billion (31 December 2009 est.)

Stock of domestic credit:

$3.96 billion (31 December 2010 est.)

country comparison to the world: 117

$3.536 billion (31 December 2009 est.)

Market value of publicly traded shares:

$1.06 billion (31 December 2010)

country comparison to the world: 105

$733.3 million (31 December 2009)

Budget for the year 2010

This Budget not only establishes the financial plan and intent ...