Finance And Budgeting In Justice And Security – ajs522 (3 credits)

This course introduces fundamental concepts of using financial tools and analysis for effective managerial decision making in criminal justice and security. Topics include the role of the financial management in the criminal justice and security organization, concepts and principles underlying financial practices, and operational planning and budgeting.

This graduate-level course is 6 weeks. This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Annual Budget and Short-Term Techniques

  • Compare and contrast the various methods of short-term financing.
  • Prepare a budget.
  • Assess inventory, personnel, and infrastructure costs.
  • Compare and contrast various budget management techniques.

Financial Contingency Planning

  • Calculate the cost of catastrophic events on the organization (scenarios).
  • Explain the concept of Financial Contingency Planning
  • Establish the sources of temporary assistance, funding, assets.

Capital Procurement and Strategic Budgetary Strategies

  • Describe the Capital Procurement (multi-year), Municipal Bond, and Grant (state and federal) processes.
  • Develop and describe the cost of various organizational operational options.
  • Evaluate an organization's current and future operational policy.
  • Evaluate long-term financial alternatives (e.g., annual budget, political change, bond issues, grants, etc.).

Establishing the Actual Cost of Services

  • Calculate present and project the future cost of current operational services.
  • List various cost control applications.
  • Explain the components of a budget control system.

Financial Management Principles

  • Explain the use of making informed financial decisions.
  • Identify the key players in the budget process.
  • Calculate key financial decision tools.
  • Evaluate financial analysis tools.
  • Recommend organizational alternatives using financial analysis.

Managerial Budgeting

  • Apply Cost-Benefit analysis to an organizational situation.
  • Describe the various cost descriptors such as (fixed, variable, direct, indirect, budget cycle, etc.).

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