NACSLBNational Advisory Council on State and Local Budgeting
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NACSLB guidelines designed to help state and local governments adequately maintain their infrastructure assets recommend that state and local governments should know the value and condition of their physical assets, prepare explicit policies for acquiring and maintaining those facilities, develop funding options, and prepare, implement, and evaluate a multi-year capital improvement plan.
The awards criteria and relevant excerpts from the NACSLB principles are complemented by numerous examples from each of the criterion.
The NACSLB recommends that governments identify and conduct an assessment of their capital assets, including the condition of the assets and factors that could affect the need for or ability to maintain the assets in the future.
The NACSLB recommends that governments analyze revenues and expenses together and that they consider the implications for other financial indicators prior to making budgetary decisions.
The NACSLB framework makes it clear that the budget process is more than an exercise in balancing revenues and expenditures each year.
The GFOA will be a key player in assisting budget and finance officials with implementing the recommended budget practices created by the NACSLB.
The NACSLB calls the budget document "arguably the single most important document prepared by governments.
In 1997, the NACSLB established 59 recommended budget practices that set the standard for a model budget process.
Exhibit 1 outlines the definition, mission, and key characteristics of the budget process as constructed by the NACSLB and endorsed by GFOA.
org for the recommended practices of both GFOA and the NACSLB.
The NACSLB framework includes several recommended practices on revenue source analysis.
GFOA encourages governments to "look to the recommended practices of the NACSLB as a model for evaluating and improving their own budget policies and procedures, with the goal of ultimately developing, adopting, and implementing their budgets in accordance with these recommended practices.