To prepare for this Discussion:
Review Chapter 6 in your course text, The Basics of Public Budgeting and Financial Management, and take note of the various forecasting models outlined.
Review Chapter 7 in your course text, The Basics of Public Budgeting and Financial Management, and think about how financial management affects budgets.
Review the video segment “Budget Forecasting” and consider how forecasting is used to predict budgetary needs for criminal justice programs.
Select a criminal justice agency or program with which you are familiar.
Review the “Forecasting Models” document located in the Learning Resources and select a forecasting model to use for this Discussion.
Consider how the forecasting model you selected could be used with the budget from the criminal justice agency or program you selected.
Think about you might justify the forecasting model you selected and consider why it is the best choice for that agency or program.
Consider how the forecasting model might assist in financial management of the agency or program.
With these thoughts in mind:
By Day 4
Post a brief description of the criminal justice agency or program and the forecasting model you selected. Then explain how the model might be used with a budget from the agency or program. Finally, justify why the model you selected is the best choice for that agency or program and how it assists in financial management.
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