"Public budgeting is a field of public administration and a discipline in the academic study of public administration."
This topic covers the principles and practices of budgeting in the public sector, including the revenue collection process and the allocation of resources.
Budget formulation: How government agencies create their annual budgets, including gathering data, setting priorities, and making tough choices.
Fiscal policy: Understanding how government spending and taxation impact economic growth, and how public finance principles inform policy-making.
Revenue projections: Methods for forecasting revenue from taxes, grants, fees, and other sources.
Budget execution: Managing budgets once they are approved, including monitoring spending, controlling costs, and making changes as needed.
Financial reporting: Producing accurate and timely reports on government finances for public accountability and decision-making.
Cost-benefit analysis: Evaluating the costs and benefits of government programs, and weighing them against each other to determine which programs are most effective.
Performance measurement: Setting goals and objectives for government programs, and measuring outcomes to determine whether those goals are being achieved.
Program evaluation: Assessing the effectiveness of government programs, including conducting research and developing metrics to measure performance.
Debt management: Managing government debt, including borrowing and repayment, to ensure long-term financial stability.
Public-private partnerships: Exploring the opportunities and challenges of working with private companies to provide public services, and understanding the risks and rewards of such partnerships.
Intergovernmental relations: Understanding the complex web of relationships between federal, state, and local governments, and how these relationships impact public budgeting.
Ethics and accountability: Exploring the ethical considerations in public budgeting, and understanding the role of transparency and accountability in promoting good governance.
Line-item budgeting: This is the most traditional form of budgeting and involves organizing expenses by line items, such as salaries, rent, and supplies.
Performance-based budgeting: This type of budgeting is based on achieving specific outcomes or results rather than just looking at expenses. It focuses on measuring the effectiveness of programs and allocating resources accordingly.
Zero-based budgeting: With zero-based budgeting, expenses are not assumed based on previous years' budgets. Instead, each expense must be justified and prioritized, starting from zero.
Program budgeting: In program budgeting, budgeting decisions are based on goals or programs, rather than on specific line items. It helps to focus on the outcomes of programs and whether they are working or not.
Outcome-based budgeting: As the name suggests, outcome-based budgeting focuses on the results that a particular program or activity produces. Outcomes are measured, and funding decisions are made based on the performance of the program.
Capital budgeting: Capital budgeting is used for funding long-term projects, such as building new infrastructure. It is distinct from operating budgeting, which is the budgeting for ongoing expenses.
Participatory budgeting: Participatory budgeting brings the community into the budgeting process, allowing them to participate and propose ideas for budget allocations.
Incremental budgeting: Incremental budgeting involves adding incremental changes to the previous year's budget, rather than starting from scratch each year. It is often used for stable and predictable expenses.
Gender budgeting: Gender budgeting involves examining the budget for its impact on gender equality. It ensures that resources are allocated in a way that promotes gender equity.
Multiyear budgeting: Multiyear budgeting involves budgeting for more than one year at a time. It provides a longer-term perspective to budgeting and helps to plan for long-term projects or initiatives.
"Budgeting is characterized by its approaches, functions, formation, and type."
"Smith and Lynch describe public budgeting through four perspectives: incrementalism, comprehensive planning, decision-making, and managerial."
"The politician sees the budget process as 'a political event conducted in the political arena for political advantage.'"
"The economist views budgeting as a matter of allocating resources in terms of opportunity cost where allocating resources to one consumer takes resources away from another consumer."
"The role of the economist, therefore, is to provide decision makers with the best possible information."
"The accountant's perspective focuses on the accountability value in budgeting which analyzes the amount budgeted to the actual expenditures thereby describing the 'wisdom of the original policy.'"
"Smith and Lynch's public manager's perspective on a budget is a policy tool to describe the implementation of public policy."
"A 'budget' is a plan for the accomplishment of programs related to objectives and goals within a definite time period, including an estimate of resources required, together with an estimate of resources available, usually compared with one or more past periods and showing future requirements."
"Public budgeting refers to the process of allocating and managing public funds, typically by a government or other public organization."
"It involves setting priorities, estimating revenue, determining spending levels, and monitoring the use of funds."
"Public budgeting is a field of public administration and a discipline in the academic study of public administration."
"Budgeting is characterized by its approaches, functions, formation, and type."
"The economist views budgeting as a matter of allocating resources in terms of opportunity cost where allocating resources to one consumer takes resources away from another consumer."
"The accountant's perspective focuses on the accountability value in budgeting which analyzes the amount budgeted to the actual expenditures thereby describing the 'wisdom of the original policy.'"
"Smith and Lynch's public manager's perspective on a budget is a policy tool to describe the implementation of public policy."
"A 'budget' is a plan for the accomplishment of programs related to objectives and goals within a definite time period, including an estimate of resources required, together with an estimate of resources available."
"...usually compared with one or more past periods and showing future requirements."
"Public budgeting refers to the process of allocating and managing public funds, typically by a government or other public organization."
"It involves setting priorities, estimating revenue, determining spending levels, and monitoring the use of funds."