equirement is a major disadvantage associated with index based forecasting of demand for most county services, including library services.
The best forecasts are those developed through the application of statistical procedures. Among the major statistical forecasting procedures are the following: (1) trend line projections; (2) cyclic demand projections; (3) curvilinear regression projections; and (4) exponentially weighted moving average projections. Trend line projections and cyclic demand projections are particularly useful to forecast the demand for county provided services.
Budgets and budgeting must be considered in two conceptual contexts. First, a budget may be considered as a noun. When considered as a noun, a budget is a detailed financial plan for an organization, that (1) describes financial resources expected to be available to an organization during the period covered by the budget, (2) identifies anticipated sources of the financial resources, and (3) provides a plan for the allocation and use of the identified financial resources. Additionally, budgeting must be considered as a verb. When budgeting is considered as a verb, budgeting is the process by which a budget is created. Approaches to the Budgeting Process
There exist a variety of budget types, and a variety of processes by which budgets may be created. The most relevant formats for the public sector organization are (1) objects of expenditure, (2) performance, (3) program, and (4) zero based. The advantages and disadvantages associated with each of these budget format
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