Updating Budget Forecasting Quiz

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Questions and Answers

What is the time frame for providing budget training according to the given text?

  • 20-31 May
  • 1-25 Jul
  • 1-30 Sep
  • 15-20 May (correct)

Who is responsible for prioritizing the consolidated NAF Requirements Budgets?

  • Activity managers (correct)
  • NAFFA
  • FSS/CC or director
  • Installation commander

When are the final budgets supposed to be approved or disapproved according to the schedule?

  • 1-25 Jul
  • 1-30 Jun
  • 26-31 Jul (correct)
  • 1-15 Aug

Who is in charge of distributing the approved budgets to managers, MAJCOMs, and others as appropriate?

<p>FSS/CC or director or budget working committee (C)</p> Signup and view all the answers

What action should be taken by RM or NAFFA by 16-31 Aug according to the schedule?

<p>Review and finalize all budgets prior to submission for approval (D)</p> Signup and view all the answers

What should managers do when preparing an NAF budget?

<p>Project sales and expenses by month (D)</p> Signup and view all the answers

How can high dollar expenses from NAF Requirements budget be managed in the overall budget?

<p>Recorded as pre-paid and expensed over time (D)</p> Signup and view all the answers

Why do managers consider upcoming events when preparing their budget?

<p>To anticipate any increase or decrease in sales and expenses (A)</p> Signup and view all the answers

What is the significance of the NAF I&E budget being broken down by month?

<p>To project sales and expenses for each month (C)</p> Signup and view all the answers

How can managers prevent an extreme variance in the overall budget?

<p>Expensing high dollar items over time (B)</p> Signup and view all the answers

Who is responsible for generating the budget with guidance from the RM and NAFFA?

<p>Activity managers (A)</p> Signup and view all the answers

When does FSS update budgets at a minimum?

<p>Every quarter (D)</p> Signup and view all the answers

Who ensures management receives budget training if needed?

<p>RM (D)</p> Signup and view all the answers

What document further shows the different NAF budgeting schedules and management responsibilities?

<p>DAFI 34-101 (A)</p> Signup and view all the answers

Who is involved in preparing budgets from the approval of the installation commander down to the activity manager?

<p>All staff members (A)</p> Signup and view all the answers

What should managers do if work orders for recurring problems do not resolve a repeat issue or the facility needs a renovation?

<p>Seek assistance from the Real Property Manager within CE (D)</p> Signup and view all the answers

What are CATCODES in the context of facility management?

<p>Structural and equipment items listed for facility funding (D)</p> Signup and view all the answers

Why might managers in Services need to be familiar with CATCODES?

<p>To identify structural and equipment items funded by CE (D)</p> Signup and view all the answers

What role does the Real Property Manager within CE play in facility management?

<p>Assigning CATCODES to facilities (C)</p> Signup and view all the answers

How can managers advocate for the needs of their facility in terms of facility improvement requirements?

<p>By seeking assistance from the Real Property Manager within CE (C)</p> Signup and view all the answers

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