According to Fickes, GAS 34 changes traditional government accounting to give the readers of government financial reports a more accurate reading of everything (2002). Private accounting firms do not follow these standards because they are not responsible for being accountable to the taxpayers.
udgeting and Financial Reporting in the Government

The government cannot just act as it wishes when it comes to budgeting and financial reporting. For this reason, there is the Governmental Accounting Standards oard. It is important to budget in order for there to be accurate financial reporting of government operations. The relationship that government budgeting has to financial reporting is that is has the effect of keeping the budging above board and discouraging anything that is not considered above board. Knowing that the budget can and will be made available to the public makes those doing the budget accountable for their actions.

Kloby says there may be more incentive…...

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Bibliography

Fickes, Michael. (2002). Weighing in on infrastructure valuation. American City & County, 117(8), 44-47.

Kloby, K. (2009). Less is more: Exploring citizen-based financial reporting in local government. Journal of Public Budgeting, Accounting & Financial Management, 21(3), 368-392.

McGee, R.W. (2004). The philosophy of taxation and public finance. Boston: Kluwer Academic Publishers.

The problems with the budget are said to arise from politicians who are unable to make difficult decisions. The problem with these laws is that they do not explicitly force politicians to make those decision. GRH provides targets for the politicians to work towards, creating motivation, and the BEA provides a framework for penalizing inaction, but neither truly forces politicians to make the tough choices.
Real political solutions involve actually making those tough choices. This is not to discount the value of having these frameworks to guide the negotiations and hold Congress to the outcomes of those negotiations, but the negotiations themselves are the critical component to the budget problem. For example, if the sequester is initiated, Congress can follow it up with laws to build back some of those spending cuts, and it would likely do so quickly. There are no provisions in the BEA, for example, that call…...

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Works Cited:

Bancroft Library. (2011). 1985 Balanced Budget and Emergency Deficit Control Act. University of California at Berkeley. Retrieved November 28, 2012 from  http://bancroft.berkeley.edu/ROHO/projects/debt/1985grammrudmanhollings.html 

Mitchell, D. (1989). Sequestration Gramm-Rudman's potent weapon for spending restraint. Cato Institute. Retrieved November 28, 2012 from  http://www.cato.org/publications/policy-analysis/sequestration-grammrudmans-potent-weapon-spending-restraint 

Reischauer, R. (1993). CBO Testimony. Congressional Budget Office. Retrieved November 28, 2012 from  http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/103xx/doc10382/1993_05_13reischauertestimony.pdf 

Sahadi, J. (2012). What's in the fiscal cliff? CNN. Retrieved November 28, 2012 from  http://money.cnn.com/2012/11/08/news/economy/fiscal-cliff/index.html

This demographic understands how investment markets work and is likely to make the smart and responsible choices with these investment funds to ensure that they have a good retirement.
The demographic that is least likely to benefit from such a plan is the demographic at the lower end of the income scale, blue collar workers with less education, minorities, new immigrants, and rural people. These demographics are generally less wealthy to begin with, so they rely more on the Social Security benefits than the demographic that benefits most from having a defined contribution plan for Social Security.

A partially-privatized social security system therefore primarily benefits the type of consumer that is in the best position not to need Social Security at all. Such consumers can use their knowledge of financial markets to enhance their wealth or better protect it. Consumers that are less likely to benefit, having little knowledge of investment…...

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Works Cited:

Ohlemacher, S. (2012). Social security adds to budget deficit. Huffington Post. Retrieved November 28, 2012 from  http://www.huffingtonpost.com/huff-wires/20120812/us-social-security-fact-check/ 

Hiltzik, M. (2012). Proposal to privatize Social Security rears its ugly head. LA Times. Retrieved November 28, 2012 from  http://articles.latimes.com/2012/aug/21/business/la-fi-hiltzik-20120821

Property tax relief is a subject that arises when the elderly or poor struggle to meet their property tax burdens. If they are long-term residents, they can be caught up when their neighborhood sees a dramatic increase in property values. There are sometimes mechanisms that governments use in order to provide relief.

Both tax credits and rebates can be used to help return some of the money paid or that is owing from eligible property owners, in order to help relieve from of the burden. This method is direct, and puts the money back into the hands of those who need it. However, this method relies on being able to determine who needs relief. People often have control over their financial situation so an inability to pay does not necessarily reflect somebody with a lack of opportunity to pay. It can be hard to qualify people for relief because of this.

Relief…...

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Works Cited:

TLC. (2006). State roles in financing public school facilities. TLC Research Division. Retrieved November 29, 2012 from  http://www.tlc.state.tx.us/pubspol/OnlineFinancePubSch.pdf 

Pennsylvania Department of Education. (2012). Property tax reduction allocations. Retrieved November 29, 2012 from http://www.portal.state.pa.us/portal/server.pt/community/property_tax_relief/7452/property_tax_reduction_allocations/510335

A sales tax is particularly regressive because low income people spend a greater percentage of their income. They might spend 100% of their income, which means they would pay a sales tax on all of that money. A wealthy person will spend more in terms of dollars on a sales tax, but will also not spend 100% of his or her income. Some of that income will be saved, meaning that not all of the wealthy person's income will be subject to this tax.
For poor people a higher portion of income will be taxed, and there is also less margin for tax increase in their budgets. A wealthy person can afford to pay a little more tax and still have a roof over his or her head, and food on the table. At lower income levels, even a moderate sales tax like 5% is going to put those things…...

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Works Cited:

Investopedia. (2012). Regressive tax. Investopedia. Retrieved November 28, 2012 from  http://www.investopedia.com/terms/r/regressivetax.asp#axzz2DYg31VBU 

McKinnon, J. (2011) Huckabee presses for national sales tax. Wall Street Journal. Retrieved November 29, 2012 from  http://blogs.wsj.com/washwire/2011/07/21/huckabee-presses-for-national-sales-tax/ 

Montgomery, L. (2009). Once considered unthinkable, U.S. sales tax gets fresh look. Washington Post. Retrieved November 29, 2012 from  http://www.washingtonpost.com/wp-dyn/content/article/2009/05/26/AR2009052602909.html

Public Budgeting:
A significant amount of effort is dedicated towards the process of developing new public programs since such programs are not similar to business enterprises. Therefore, the process of public budgeting requires consideration and inclusion of public policies. In essence, public policies should be translated into discussions regarding the annual budget through evaluation of the monetary demands of such policies on public revenue. During this process, policy makers should be bound by the financial requirements of the various alternatives. As part of translating public policies into discussions on annual budget, policy makers should eliminate certain policy alternatives from consideration if the alternatives create huge fiscal demands on public revenue. The need for policy makers to eliminate such alternatives is fueled by the fact that the government is permitted to collect revenue only as long as the benefits of the generated revenue exceeds the loss realized by contributors of the revenue.

Question…...

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References:

"Budget Preparation." (n.d.). International Monetary Fund. Retrieved November 8, 2013, from  http://www.imf.org/external/pubs/ft/expend/guide3.htm 

"Chapter 4 -- Budgetary Control." (n.d.). FAO Corporate Document Repository. Retrieved November 8, 2013, from  http://www.fao.org/docrep/w4343e/w4343e05.htm

Public Budgeting Process
The options for financing President Bush's plan to partially privatize Social Security might well be as unworkable as his plan to cut taxes five times, while increasing defense spending by starting two wars in the Middle East -- to say nothing of his other ambitious, but underfunded, plans such as No Child Left Behind. On the face of it, the near-term prospects for national solvency in any form of Social Security privatization -- especially in the undertaxed, overspent configuration of the current U.S. budget -- conform to the old adage, slim to none. A quick glance at the figures even during the pre-tax-cut, economic boom times of the middle of the Clinton presidency foreshadow the potential for disaster lurking in Social Security privatization. At that time, U.S. national debt amounted to "not $5 trillion as our politicians tell us -- it is between $14 and $17 trillion!" (Lamm,…...

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References

Lamm, Richard D. (1996) The new agenda. Vital Speeches of the Day, July 1, 62 (18).

Mallaby, Sebastian. (2004) Bush's ungrounded vision. The Washington Post, November 8. Retrieved 25 November 2004 from www.highbeam.com.

Montagne, Renee. (2004) Analysis: How Social Security privatization might work, Morning Edition (NPR) transcript, November 11. Retrieved 25 November 2004 from www.highbeam.com.

Strope, Leigh. (2004) Bush Moves to Privatize Social Security. AP Online, November 11. Retrieved 25 November 2004 from www.highbeam.com.

In terms of similarities, each of these budgets contains roughly the same basic format. hile the specific charts may differ, each budget separates revenue sources and attempts to break those down. The budgets also explain the expenditures, and typically break these down to each individual program within the department.
A similarity between three of the budgets (Federal, Florida and Newark) is that they rely heavily on tables and written explanations. hile these tables are necessary in any budget, it is interesting to note that the Newark budget is significantly more visually-oriented than any of the other budgets. The graphic representation of some of the figures makes for a more user-friendly presentation. The other budgets are less likely to be understood by those without some financial training.

Each of the budgets is produced to unique specifications. There appears to be no standard with respect to the production of public budgets, so each…...

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Works Cited:

United States 2010 Federal Budget Summary Tables. Retrieved July 24, 2009 from http://www.gpoaccess.gov/usbudget/fy10/pdf/budget/summary.pdf

State of Florida 2009-10 "People's" Budget. Retrieved July 24, 2009 from http://peoplesbudget.state.fl.us/bdagencies.aspx?full=1

City of Newark 2009 Proposed Budget. Retrieved July 24, 2009 from  http://www.ci.newark.nj.us/government/city_departments/department_of_administration/2009_proposed_budget.php 

Environmental Protection Agency 2010 Budget. Retrieved July 24, 2009 from  http://www.epa.gov/budget/2010/2010bib.pdf

Debt #10

Principle #2

Interest #9

Sinking Fund #7

Pay-as-you-go #13

Mortgage bonds #15

Accounts payable #5

Unfunded pension liability #6

General obligation debt #8

Revenue debt #4

Special authority debt #17

Lease-backed debt #16

Traditional capital financing #1

Public-private capital financing #12

Creative capital financing #18

Financial engineering #20

Derivatives #11

Operating Budget #3

Capital Budget #14

Speculators #19

Question 2. There are several warning signs that a municipality is in financial trouble. One is unfunded pension obligations. If the municipality is not putting enough money into its pension fund, it may be having difficulty covering regular operating expenses. Likewise, if the municipality has a sinking fund that it is no longer contributing to, this could be a sign of distress. If the municipality's debt rating is reduced, this is another sign. It means that the municipality's balance sheet is believed to have deteriorated.

There are other signs of distress as well. Certain types of debt issues signal distress more than others. For example, revenue bonds may indicate that the…...

Having a clientele also allows the agency to gain a sense of internal direction as well. Employees of the agency have a more clear sense of mandate when there is a definable clientele as well. This helps with direction, with effectiveness and with efficiency.
Question 2. Issues assessments are conducted so that government or its agencies can learn about the variety of issues surrounding a specific subject. The issues assessment can be conducted with respect to a program or proposed program, with respect to a parcel of land or proposed development, or with respect to a subject matter such as transportation, housing, homelessness or other key issue. ithin each of these issues will be a number of other issues of import to the individual stakeholders. It is the purpose of the issues assessment to uncover each of these sub-issues pertaining to the subject, so that the best course of action…...

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Works Cited:

Rabin, Jack. (1992). Handbook of Public Budgeting. Retrieved July 2, 2009 from  http://books.google.de/books?id=jyX0oF66J3oC&pg=PA217&lpg=PA217&dq=revenue+forecasting+time+series&source=bl&ots=mSw7SNpEku&sig=GlF6iTgjQ5_0u8RpN6AhFPVWAUE&hl=en&ei=wCJNSv2fKInBsAak1uC1BA&sa=X&oi=book_result&ct=result&resnum=2

Pressures Affecting Public BudgetAnalyzing Practical PressuresBudgets are never easy, but when it comes to the public sector there are additional pressures that can make the process even more challenging. On the one hand, there is a need to deliver high-quality goods and services that meet the needs of the community. On the other hand, there is often a limited amount of funding available, meaning that hard choices have to be made about where to allocate resources. One factor leading to practical pressure being put on the budget is politics, with elected officials seeking to direct funds towards pet projects or constituencies that will benefit them at election time (ubin, 2019). Elected officials may have different priorities when it comes to spending taxpayers money.Other factors include population growth and inflation. As populations increase, so too do the number of people who need government services (Gylfason & Herbeertsson, 2001). This increase in…...

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ReferencesGylfason, T., & Herbertsson, T. T. (2021). Does inflation matter for growth?. Japan and the world economy, 13(4), 405-428.Kaplow, B. L. (2021). Optimal control of externalities in the presence of income taxation. International Economic Review, 53(2), 487-509.Lee Jr, R. D., Johnson, R. W., & Joyce, P. G. (2020). Public budgeting systems. Jones & Bartlett Learning.Rubin, I. S. (2019). The politics of public budgeting: Getting and spending, borrowing and balancing. CQ Press.

The departmental and program breakdown of the information in the city of Detroit's budget does not provide quite the same level of detail or of annual change that the city of Austin's budget does, but this more than made up for by the ease of accessing what details are available, and by the different formats of the two cities' budgets almost necessitate these differences in clarity, but they do not entirely account for the lack of clarity in the city of Austin's budget. That budget is already organized by department and broken down into the individual programs; tabulating the department totals and providing a clear overview of the major expenditure and revenue items on the budget would not have entailed any undue extra effort. The city of Detroit's budget clearly shows that both detail and overall clarity are entirely achievable in a municipal budget, making it both more effective…...

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References

Lee, R.; Johnson, R. And Joyce, P. (2008). Public budgeting systems. Sudbury, MA: Jones & Bartlett.

Stenberg, C. (2007). Managing local government services: a practical guide. Washington. D.C.: ICMA.

Budgeting and Financial Management Case AnalysisBudgeting and financial management are critical processes in public administration efforts as they play an important role in governance. Organizations in both the public and private sectors carry out budgeting and financial management to allocate resources to different functional departments and ensure effective utilization of these resources. According to National Center for Education Statistics (2004), budgeting primarily entails allocating finite resources to an organizations prioritized needs. In the field of public administration, budgeting and financial management provide the legal premise to spend money. Budgeting and financial management are invaluable tools for planning and evaluation in the educational environment. Through this, educational objectives and programs are translated into financial resources plans and courses of action. This paper provides a critical analysis of budgeting and financial management at The Bedford Falls Academy Charter School. The analysis seeks to demonstrate important aspects of budgeting and financial management…...

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ReferencesNational Center for Education Statistics. (2004). Financial accounting for local and state school systems. Retrieved from U.S. Department of Education website:   J.B. (2010). Some problems in public school finance. Journal of Educational Research, 10(4), 257-270.Snow, D. (2017). The Bedford Falls Academy Charter School. Retrieved from the University of Washington, Evans School of Public Policy & Governance website:  http://dx.doi.org/10.4135/9781526479662https://nces.ed.gov/pubs2004/h2r2/ch_3.asp Sears,

.. discretion as a practical matter" (1988, p. 78).
Wildavsky's was not critical of classical budgeting theory. He was more in favor of the concept of incrementalism that was a vital part of classical budgeting. He felt that incrementalism was superior to other budgeting approaches because it "increases agreement among the participants" (1984, p. 136) and also because it could reduce "burden of calculation" (1984, p. 136). Wildavsky went on to say that: "Clinging to last year's agreements is enormously economical of critical resources . . . which would be seriously depleted if all or most past agreements were reexamined yearly." (1984, p. 217).

The classical budgeting model proved efficient and practical for many decades but it lost its appeal in mid-20th century when a general trend towards excessive spending took over. This trend was observed all over the world and the main reason for the scope of government's responsibilities that had…...

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References

1. Caiden, Naomi. 1982. "The Myth of the Annual Budget." Public Administration Review 42 (6):516 -- 523.

2. Meyers, Roy T. 1997, Late Appropriations and Government shutdowns: Frequency causes, consensus and remedies. Public Budgeting and Finance. 25:38-45

3. Schick, Allen. 1980. Congress and Your Money. Washington: Urban Institute.

4. Schick, Allen. 1990. The Capacity to Budget. Washington: Urban Institute.

Public Administration and its Analysis
This is a paper on the concept and basis of Public Administration and the importance it holds in the field of management.

Defining the Breadth and Scope of Public Administration

In the early years of public administration was hailed as a strong and positive as a professional force for studying and putting into practice for the improvement and revamping of the administration of the federal, state and legislative government but also sure of the political and ethical authenticity of the field of public administration in performing that role.

In what is now known as the Classical period, the mind set of the people that were in the field of public administration were based on the resulting derivative of the theory and principles of values from the intellectual side of political science and, in the main part, from constitutional democratic theory. Woodrow Wilson is considered to be the academic…...

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References

Preface to Public Administration, A Search for Themes and Direction" by Richard J. Stillman II, copyright 1991 by St. Marin's Press, Inc. As the primary reference source":

U.S. Bureau of the Census (1996). Current Population Reports. No. P25-1130.

Noam, Eli (1995). Electronics and the Dim Future of the University. Science 270 (October 13): 247-249..

Klay, William Earle and Lance DeHaven-Smith (1997). It's the Economy (Values, Stupid! Findings of the FloridaScan Project. Futures Research Quarterly 13:4 (Winter): 51-73.

Making College Education Free: A Comprehensive Analysis

The escalating costs of college education have become a significant burden for students and families alike, leading to a surge in student debt and limited access to higher education for underserved populations. The debate over making college education free has gained momentum as a potential solution to address these challenges. This analysis examines the practical implications and potential benefits of implementing free college education, exploring its impact on student debt, access to higher education, and the broader economic and societal landscape.

Reducing Student Debt Burden

One of the primary arguments in favor of free college education....

Limited Access to Healthcare: Impact on a Country's Economy

Limited access to healthcare has profound repercussions on a country's economic health, affecting workforce productivity, economic growth, and government expenditures.

Reduced Workforce Productivity:

Poor health among the population can significantly diminish workforce productivity. Individuals suffering from illnesses or chronic conditions may struggle to perform their work duties efficiently or may be forced to take time off, leading to lost output and diminished economic activity. This, in turn, reduces the tax revenue collected by the government, affecting its ability to fund public services.

Increased Absenteeism and Turnover:

Inadequate healthcare access can lead to higher rates of absenteeism....