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Text of the page (random words):
e jr et al say that some government services yield public or collective benefits that are of value to society as a whole 5 they suggest that this is the main difference from corporate products that are mostly consumed by an individual public goods have two main properties that indicate them nonexcludability no one can be prevented from using them for an example public lighting nonrivalness consumption of the public good from one person does not affect other person s use everyone consumes national defence in the same way and one person s consumption of national defence does not diminish its availability to others 5 public goods are also referred to as goods that cannot be provided by the market efficiently or will not be provided by the market at all 6 7 this idea was originally presented by economist paul samuelson in his seminal paper the pure theory of public expenditure published in 1954 externalities edit it is an effect that affects people beyond those who are targets of a particular service externalities can be either positive or negative depending on whether the effect is beneficial or harmful managing different externalities is also a domain where governments interfere positive externalities occur when the consumption or production of a good or service has a beneficial effect on others without compensation one of the most typical examples is education governments provide access to some level of education regardless of their wealth although this service is provided to a particular person the overall effect benefits the whole society 8 other examples are healthcare and research and development negative externalities occur when the consumption or production of a good or service imposes costs on others without compensation examples of negative externalities include pollution noise and traffic congestion some companies may pollute the environment while they are maximizing their profit it is the role of the government to prevent or minimize the cost arising from such actions 9 other responsibilities edit demographic changes governments influence demographic factors through public programs by implementing policies and programs aimed at changing the population size age structure and geographic distribution of a country s population for example governments may provide incentives for families to have more children in order to increase the birth rate and promote population growth or they may provide healthcare and education programs to improve the health and education levels of the population which can lead to demographic changes over time high risk situations governments are able to bear or regulate risks connected to activities that would not be manageable for the private sector due to their ability to raise funds through taxation or borrowing such as space exploration technological change governments can help facilitate technological change by providing infrastructure for new means of transport such as highways or public transportation systems they may also provide funding for research and development of new technologies such as renewable energy or artificial intelligence which can help to drive innovation and economic growth additionally governments also regulate industries to prevent monopolies and other market instabilities 10 examples of public goods edit education national defence clean air and water infrastructure roads bridges telecommunication water supply heat electricity public lighting research and development healthcare judiciary pensions public budget revenues edit governments use public budgeting to allocate and manage the government budget in order to achieve social and economic objectives 2 governments are to redistribute money in a socially beneficial way in order to do so they need to raise the money from people in the most efficient and equitable manner or incorporate some profitable activities however most of the revenues are accumulated from taxes and social insurances finding the balance between income and expenditures is the goal in public budgeting but the specific income sources and services provided are equally important topic in the discussion about public budgeting 11 the main sources of federal income in the united states are individual income tax social insurance taxes payroll tax for social security and medicare and the corporate income tax 11 these revenue streams are used to fund a wide range of public services including national defence social welfare programs and public infrastructure the aim of the government is to minimize the dead weight loss of taxation and tax evasion to address these issues governments can implement measures such as simplifying the tax code reducing tax rates and increasing tax enforcement efforts however some tax costs cannot be avoided completely 12 public budget expenditures edit basically there are three main types of spendings discretionary spendings spendings that undergo an approval process which aims to modify the properties of those expenditures and can be modified every year these can be operations of federal departments or investments in infrastructure etc discretionary spendings are consisting from the half out of national defence expenses in the usa mandatory spending government is obligated to pay them according to law and they cannot be changed mandatory spendings became higher overtime and are the greater part of public expenditures most of them are closely connected to healthcare net interest refers to the amount of money the government has to pay each year on interests on the national debt 13 there has been a huge shift towards mandatory spendings as countries around the world adopted various fiscal rules to enforce sustainability and to make public budgets more predictable over time on the other hand this implies that governments have much less space to control the public budget fiscal rules can have positive or negative outcomes according to the responsibility of the government for governments that consume rising shares of national income these rules may prevent enormous debt of the country during their governance 14 allen schick suggests that the developed countries have gone through three stages of public budgeting scenarios balanced budget norm governments focused on balanced budget each year they targeted the revenue expenditure balance but did not differentiate between recession and years of economic growth because most of the countries could not follow this norm during times of war and economic stagnation these rules have been constantly violated even though it served as a rigid argument for cutting expenses dynamic fiscal management after the world war ii these rules shifted towards targeting balanced budget in the time horizon of one economic cycle in some countries this meant that spendings should not exceed the government revenue that would be accumulated at full employment the aim was to have an approximately same real output as the potential output fiscal targets with the demand for balancing the economy rather than balancing the budget governments used debt with the aim to stimulate the economy but after the oil shocks the governments could not balance out the budget by raising taxes and had to adapt much stronger cuts on expenditures as balanced budgets are not possible during economic fluctuations governments are now focusing on long term prospects perceiving debts as a drag on the future economic growth 14 leading definitions edit practical a plan for financing an enterprise or government during a definite period which is prepared and submitted by a responsible executive to a representative body or other duly constituted agent whose approval and authorization are necessary before the plan may be executed frederick a cleveland 15 theoretical the leading question on what basis shall it be decided to allocate x dollars to activity a instead of activity b v o key jr 16 leading theorists and contributions edit frederick cleveland constructed a practical definition of budgeting 15 william f willoughby describes the purpose of a budget document 17 v o key jr sparked the normative question regarding how scarce resources ought to be distributed to unlimited demands 16 verne b lewis argued for a budgeting theory based on economic values strongly contributing to the study of public finance 18 richard a musgrave the father of public finance identified the three roles of government in the economy allocation of resources distribution of goods and services and economy stabilization 19 aaron wildavsky his work emphasized the political nature of budgeting and he is known for developing the concept of budgetary incrementalism which describes the tendency of governments to make small incremental changes to their budgets over time he suggested that budgetary decision making is largely political rather than based on economic conditions 20 allen schick he is known for his work on budgetary reforms and his contributions to the field of performance based budgeting he outlined the three functions of budgeting strategic planning deciding on the goals and objectives of an organization management control management s process of assuring effective and efficient accomplishment of goals and objectives laid out via strategic planning operational control focused on proper execution of specific tasks that provide the most efficient and effective means of meeting the goals and objectives ordered by management control 21 irene s rubin his work focuses on the role of budgeting in policy making and the challenges of managing public finances in an era of fiscal austerity he facilitated the discussion of the dichotomy between theory and practice of public budgeting 22 23 robert d behn his work has emphasized the importance of setting clear goals and measuring performance in order to improve the efficiency and effectiveness of public budgeting 24 eugene bardach he is known for his work on the use of policy tools in the budgeting process and his emphasis on the importance of evidence based decision making 25 approaches to budgeting edit examples of budgeting approaches include line item budgeting is arguably the simplest form of budgeting this approach links the inputs of the system to the system these budgets typically appear in the form of accounting documents that express minimal information regarding purpose or an explicit object within the system the focus is on controlling spending rather than maximising efficiency program budgeting takes a normative approach to budgeting in that decision making allocating resources is determined by the funding of one program instead of another based on what that program offers the goal is to allocate resources based on the relative importance of each program to the overall mission of the organization this approach quickly lends itself to the ppbs budgeting approach ppbs budgeting or program planning budgeting system is the link between the line item and program budgets and the more complex performance budget as opposed to the more simple program budget this decision making tool links the program under consideration to the ways and means of facilitating the program this is meant to serve as a long term planning tool so that decision makers are made aware of the future implications of their actions these are typically most useful in capital projects the planning portion of the approach seeks to link goals to objects or expected outcomes from specific outputs which are then sorted into programs that convert inputs to outputs finally the budgeting of ppbs helps determine how to fund the program a leader in the promotion of ppbs was robert mcnamara s use in the united states government s department of defense in the 1960s performance based budgeting attempts to solve decision making problems based on a programs ability to convert inputs to outputs and or use inputs to affect certain outcomes whatever performance may be judged by a certain program s ability to meet certain objectives that contribute to a more abstract goal as calculated by that program s ability to use resources or inputs efficiently by linking inputs to outputs and or effectively by linking inputs to outcomes a decision making or allocation of scarce resources problem is solved by determining which project maximizes efficiency and efficacy the goal is to maximize the overall impact of the organization s resources zero based budgeting zbb is a response to an incremental decision making process whereby the budget of a given fiscal year fy is largely decided upon by the existing budget of fy 1 in contrast to incrementalism the allocation of scarce resources funding is determined from a zero sum accounting method in government each function of a department s section proposes certain objectives that relate to some goal the section could achieve if allocated x dollars flexible freeze is a budgeting approach that combines elements of incrementalism and zbb and that pioneered by president george h w bush as a means to cut government spending under this approach certain programs would be affected by changes in population growth and inflation this approach can help organizations maintain fiscal discipline while also allowing for some flexibility in response to changing circumstances program assessment rating tool p a r t is an instrument developed by the united states office of management and budget omb to measure and assess the effectiveness of federal programs that review the program s purpose and design strategic planning program management and program results and accountability the scores are rated from effective ranging between 85 and 100 points moderately affective 70 84 points adequate 50 69 points and ineffective 0 49 points priority based budgeting is a response to poor economic conditions as opposed to incremental budgeting where resource allocation is determined based on marginal shifts in costs priority based budgeting fixes the amount of governmental resources and then allocates resources across the various programs the programs receive their allocation based on their priority priorities may include safe and secure communities health education and community development among others outcome assessment then determines the efficacy of the programs although this approach is pro democratic critics suggest the administration of this process is extremely difficult functions of a budget document edit a government s budget is a comprehensive financial plan that outlines its priorities and objectives for a given period as a policy document a government s budget is designed as a plan for implementing its policy traditionally budgets served as a more rigid tool to implement policy in a retrospective setting the functions associated with these values are listed under the traditional model and are control management and planning the modern model taking a less rigid approach has replaced the control function with the monitoring function the management function with the ...