"Part 2: Budgeting & Accounting. Chapter 5: Formula Budgeting as a Technique"
Author: Gardiner, William S.
Published In: Facilities Management: A Manual for Plant Administration, first edition
A number of states employ budget formulas that are intended to provide adequate and equitable annual budgets for routine maintenance functions rather than rely on more traditional methods of subjective budgeting. Presents rationale behind budget formulas and origins of formula budgeting. Details formula budgeting in Texas, Florida, Colorado, and the State of Washington. Discusses benefits and pitfalls of formula budgets and lists desired characteristics.
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