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.
Capital Procurement and Strategic Budgetary Strategies
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.).
Describe the Capital Procurement (multi-year), Municipal Bond, and Grant (state and federal) processes.
Annual Budget and Short-Term Techniques
Prepare a budget.
Assess inventory, personnel, and infrastructure costs.
Compare and contrast various budget management techniques.
Compare and contrast the various methods of short-term financing.
Financial Management Principles
Identify the key players in the budget process.
Calculate key financial decision tools.
Evaluate financial analysis tools.
Recommend organizational alternatives using financial analysis.
Explain the use of making informed financial decisions.
Describe the various cost descriptors such as (fixed, variable, direct, indirect, budget cycle, etc.).
Apply Cost-Benefit analysis to an organizational situation.
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.
Establishing the Actual Cost of Services
Calculate present and project the future cost of current operational services.
Explain the components of a budget control system.
List various cost control applications.
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