Finance Question

Learning Goal: I’m working on a finance writing question and need an explanation and answer to help me learn.

Two weeks ago, you had the chance to reduce the federal budget and analyze some of the unique decisions required in developing the federal budget. This week, you’ll get the chance to balance the San Jose, CA budget. Keep in mind that, by state constitutions, the budget for cities must balance (there can be no deficits) in the final budget. Please use this link:

City of San Jose, CA: City of San Jose – General Fund Programs 2022-2023 (English) – Balancing Act (abalancingact.com)

The exercise requires you to enter a zip code. One option is to enter the University of Arizona’s zip (85721). Follow the instructions to either reduce or increase budget categories to arrive at a balanced budget. Explain your actions for each category presented. There are ten categories (service areas) including the revenue area to analyze. When you finish, you will be asked to “submit” your information. There is no need to accomplish this step, however, feel free to accomplish this step after answering the required questions. It provides a simple summary of your inputs. Use information presented in class lectures and the text to help in your analysis. The score for your submission is based on your submitted (D2L Assignments tab) explanations regarding each category and your overall assessment (strengths and weaknesses) regarding the challenges you faced and your ability to get the necessary majority votes through their Mayor and Council to implement your changes and balance the City’s budget for FY 2022. Here’s an explanation regarding their governance model:

Mayor and City Council: The San Jose City Council is the legislative body that represents the community and is empowered by the City Charter to formulate citywide policy, adopt laws/ordinances, and approve budgets. The City Council is composed of the Mayor, who is elected by the community at large and serves as the Council chair, and ten councilmembers who are elected by voters in districts.

Under the City Charter, the Mayor is responsible for recommending policy, program, and budget priorities to the City Council, which in turn approves policy direction for the City. The City Charter limits the Mayor and Councilmembers from serving more than two consecutive terms in those offices.

Governance Structure | City of San Jose (sanjoseca.gov)

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