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Federal Budget Process
Every year the federal administration is involved with a total revenue and expenditure of about 1.5 trillion USD as a matter of fiscal practice. (Keith, 1996) The budgetary strategy of the federal administration is an integration of the guidelines that the policy makers, legislator, bureaucrats apply for designing, continuing, regulating and accounting fro the expenditure and revenue strategy. Normally the budgetary strategy involves formulation of the budget of the President by the administrative section; the budget strategy of the Congress has its base on the resolution moved by the Congress. In some of the years the authorization and appropriation strategies, implementation and impoundments of the budgetary law, the prescribed guideline under the Congressional Budget Act of 1974 in respect of deferring or rescinding of the funds appropriated, and the policy of financial managements are taken into account while formulation of the Congressional budget, particularly in case of…… [Read More]
Considering the enormity of this one example ($416,000 per person?) and considering that it is just one of many examples to be found in wasteful dollars, one could easily state that the budget process is out of control.
Even when politics are set aside the process of determining a budget for a country as big and diverse as the United States is a difficult venture. ecently a panel of politicians comprised of both epublicans and Democrats was charged with the responsibility of finding areas in which cuts could be made in order to trim the budget and the huge deficit that has been building over the last several years. As this panel of 12 individuals convened its deliberations on how to make trillions of dollars in cuts many experts believed that it could not fail; doing so according to some would be a calamity. One report questioned "what message does…… [Read More]
ith these criteria in mind, we will turn attention to the current federal budget, which has been in deficit status since 2002, and seems destined to remain so for the next several years. The FY2006 proposed budget includes a $390 billion deficit, not including potential expenditures in Iraq and Afghanistan or any social security reform measures undertaken -- a seemingly huge discrepancy between government revenue and spending (Cashell 2005, p. 1). President Bush has vowed to reduce deficit spending by half in the next five years -- and appears to be holding true to that promise, as the 2006 deficit is smaller than the $427 billion deficit in the FY2005 budget. But again, these numbers are not truly a reflection of the budgetary state of the government when they do not reflect the deficit as a ratio to revenue or as a percentage of total spending.
The final section of…… [Read More]
federal budget with the Washington State budget. On the first note, the two budgets have been prepared in different ways. The Washington State budget was prepared using a fairly traditional public budgeting process which builds the current budget on top of prior budgets. New spending priorities are added, older ones removed, but for the most part the budget is focused on existing programs. The federal budget is usually produced the same way -- and in a sense it is because a lot of the budget items are built out this way. But the current proposed budget reflects radical shifts in spending priorities. The current budget tabled by the White House is more a reflection of a particular set of spending priorities than it is based on a) prior budgets or b) sound economic policy. In essence, the proposed federal budget is radically different from prior budgets largely because of a…… [Read More]
balanced federal budget. Justify your position for or against a balanced federal budget by explaining the gains and losses associated with your position.
A balanced federal budget: Is it a good thing?
Why is a federal budget deficit so bad? he budget deficit is so politically contentious few seem willing to ask this simple question. Because of the anti-deficit hysteria, even some ordinary citizens will protest: 'I cannot spend at a deficit, why should the federal government?' However, this is a false analogy. here are often good reasons (for individuals as well as governments) to go into temporary debt. Classical Keynesian economic theory states that the federal government must spent at a deficit level to stimulate the economy during a recession. his fuels money into the pockets of consumers and a rise in consumption results more tax revenue and lower unemployment. "Macroeconomists have known for decades that the economy can…… [Read More]
federal bureaucracies accountable for their actions? How are they held accountable?
In general terms, there are a number of ways by which federal bureaucracies are held accountable. One example would be the President holding Cabinet members responsible for the actions or inactions of their agency employees and personnel. For example, if someone "drops the ball" at the Veteran Affairs Administration, the Internal evenue Service or other agencies, the people that lead that organization is supposed to be regulating that behavior (or dealing with misdeeds) and the person who appointed the leader (usually the President) will be the first line of defense. There are also regulatory and review committees in Congress that exercise oversight at one level or another in terms of spending, actions, inactions, compliance with the law and so forth. Lastly, there is the American voter and the public opinion movements among the taxpayers and citizens. Indeed, if the…… [Read More]
The Political Nature of the Federal Budget Process
The federal budget process is overseen by US Congressmen, who are fundamentally immersed in the political nature of government. As Elwood (2008) notes, members of Congress are influenced in three ways: 1) by money that is used to finance their political campaigns; 2) by obtaining the votes necessary for reelection; and 3) by obtaining expert advice on topics that are of personal importance to them. The federal budget process is particularly impactful on the first two and vice versa. For example, “the ability to funnel money into a congressional district or state provides an excellent opportunity for a legislator to remain in office” (Elwood, 2008, p. 3). This ability creates a conflict of interest among the politicians overseeing the budget process. On the one hand they are tasked with producing a budget resolution and allocating funds based on the duty to…… [Read More]
ather than propping up "bad blood" and allowing the "illusion" of wealth to continue to be fostered, the Federal eserve should allow the market to flush out the "bad blood" and operate the way it is intended.
In conclusion, the good that the Federal eserve does is to monitor economic policy, encourage maximum employment and long-term stability. The way it does so, however, especially in times of crisis such as the world is currently experiencing is highly criticized by economists who do not support managerial decisions made by Bernanke and others. As on Paul states, the Federal eserve could better itself by putting an end to fractional reserve banking and allowing institutions, which are filled with bad debt, to collapse rather than continuing to prop them up at taxpayers' expense. Doing so only helps bring down the value of the dollar, which it is supposed to protect.
eference List…… [Read More]
Health care is a large part of the federal budget and it is increasing in importance. The rate of growth in health care outlays is greater than the rate of growth in the budget itself. The poses a problem, because the federal budget deficit is increasing in size. Debt service is going to be the most rapidly growing component of the federal budget over the next several years, highlighting the need to control costs in all aspects of the budget. The challenge, however, is that both demographic trends and health care cost inflation trends signal a dramatic increase in health care costs in the coming couple of decades. Health care reform is expected to help with cost containment, primarily through shifting some eligibility requirements, but greater solutions are required. Privatizing health care would take if off the government's books, but would have significant negative externalities with respect…… [Read More]
Despite increased student fees, the UC still encountered a $500 million shortfall or $2,500 per student. It has been undergoing severe pressure from the impact of the cuts. The quality of education at the U.S. has remained high, but there have been disturbing signs of erosion, nevertheless. The widening gap between the UC and the best private university has been alarming because the UC competes for the top teachers and students with these private universities. This widening gap should be a critical concern to the state and the federal governments because even excellent private universities are too small to meet California's or the nation's needs for a well-educated workforce in the future, to come up with innovations needed to fuel the economy and to generate jobs, and to introduce medical advances for the use and care of the sick and disabled. In the past decade, California's private research universities, Stanford,…… [Read More]
Doing this activity provided me with information I was unaware of before doing the assignment. It seems amazing to me that more than half of the federal money is going to the military. Yet only 4% of the federal budget goes to education. his is a very sad state of affairs. Since September 11, 2001, the government of the United States has spent $635.9 billion on just homeland security. his doesn't even include the amount of money that has been spent in the war on terror. he website states that since 9/11, the government has spent $7.6 trillion on the military. his is a huge amount of money.
he budge projection for 2012 is that the United States government will spend another $3.7 trillion. hat means that the government will spend the same amount in one year that they have spend in the five years before. his is an…… [Read More]
S. Government to make future or immediate monetary outlays. In the second subcomponent, the reporting and outlay phase lasts for the duration until the funds are canceled or until the funds are totally disbursed. One should note that these cancellations are in no way connected with cancellations that are connected with budget reductions. These are a separate congressional activity (ibid).
Sometimes spending adjustments are needed during the fiscal year. They may require special reporting and approval procedures by both Congress and OMB. In some instances, an agency can request supplemental funding by submitting a request to the Congress. Mostly, the departments and agencies are required to manage their funds according to their available resources and have only a limited monitoring by the OMB and the Congress during this particular phase of the budget process (Government Printing Office, 29-30).
hat is the effect of this system in theory as well as…… [Read More]
.. 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…… [Read More]
This type of policy is aimed at "stimulating total spending in the economy," through cutting taxes to leave businesses and individuals with more money to buy goods, thus raising demand and increasing production and generating increased spending (Microsoft® Encarta® Online Encyclopedia).
Importantly, the authors note that these budget imbalances will have a significant negative impact on the general economy. They will reduce living standards and damage the economy, and bring the nation to a "real risk of a fiscal crisis" (p. 5). In large part, these effects will come from reducing national saving.
The authors note, however, that all is not lost if action is taken immediately to reduce budget deficits. Gale and Orszag write, "Significant changes in fiscal policy are needed to deal preemptively with the costs from low national saving and the risk of a fiscal crisis. The sooner we begin, the better" (p. 6).
Gale William…… [Read More]
Affordable Care Act decreased the number of Americans without health insurance by the millions, which was its primary objective. It used three different mechanisms to achieve this goal -- the expansion of Medicaid, the insurance exchanges, and the extension of coverage to young adults up to age 26. These changes have also helped to stem the growth of health care costs, and have delivered greater health care savings throughout the system, even private insurance customers, than was originally expected. There were some initial costs to the ACA, running from 2014-2019 but after the point the Congressional Budget Office expects the ACA will have a net benefit in terms of its impact on the budget, because of the new taxes it created.
The incoming government is expected to unwind the ACA, as this has been a stated goal of Trump, and of the epublican party. What this means has been studied.…… [Read More]
What are the consequences of an ever-burgeoning federal deficit and debt? Will there ever be a solution or compromise?
One of the most hotly-contested issues in contemporary American political life is how to deal with the current budget deficit. Despite running surpluses during the 1990s, the current budget is widely considered out of control by both Democrats and epublicans. The reasons for the deficit include two costly wars abroad and increased defense spending overall after 9/11; tax cuts, and the recent recession which required federal spending in the form of unemployment assistance and assistance to the states (who are legally required to balance their budgets); and less income tax revenue because of job losses. There also systemic factors that have contributed to high budget deficits (Amadeo 2012). Overall, "mandatory spending has increased. Spending to pay benefits for Social Security, Medicare and other mandated programs has been…… [Read More]
This means that Congressional officials and the White House are reluctant to make the necessary adjustments (in order to address these issues). Instead, they have been utilizing various gimmicks to demonstrate how they are dealing with the problem. During the course of their reelection campaign, they can show how they helped to tackle the federal government's fiscal challenges and increased the number of projects / funding for various programs. It is at this point that they are improving their chances of being reelected. (Kakutani, 2012)
Are they really political solutions in disguise or creating more problems than solutions?
As a result, these actions are creating more problems in the future. Evidence of this can be seen with observations from Greenberg (2012) who said, "Congress remains deeply divided about how to deal with the fiscal cliff's combination of automatic government spending reductions and expiring tax cuts, amounting to nearly 5% of…… [Read More]
Federal Contracting Activities and Contract Types-
Dell Inc. was founded by Michael Dell who ventured into business as a freshman at the University of Texas in Austin. He realized that the branded models of computers were expensive and not many could afford them. He ventured into the business of buying the computer parts which he assembled in clones of IBM computers and sold to the consumers directly through the mail. The computer market was already dominated by the big players in the market but against the odds Dell faced competition and emerged the best brand sold through the direct-mail market. Customers recognized the brand through his aggressive marketing and the quality of his computer products that earned him a bigger market share compared to the other little known companies. It became incorporated in 1984 where it has been the world's leading seller of computer systems.
Dell offers a…… [Read More]
125% to 6.0% would increase the estimated revenues by approximately $300 million, bringing this revenue to its highest level in history. This rate would still be lower than the state sales tax rate in neighboring Southwest states such as Arizona (6.6%), Texas (6.25%), Nevada (6.85%) and California (7.25%) (Sales Tax Clearinghouse, 2010). ith this increase, personal income tax rates would not need to be increased. Corporate income tax rates would also remain the same, as they are not a significant component of general revenues. hile the move to increase the state sales tax would prove unpopular, it would allow New Mexico to build for a more stable budget future, less reliant on federal transfers, while remaining competitive in terms of corporate and personal income taxes.
Appropriations will also need to be cut in order to save money. The main problem with appropriations in the budget is that a looming and…… [Read More]
However, when you look at the overall graduation rates of the district in comparison with the state average, one could effectively argue that these programs were failures by not keeping the district in line with the state number.
There are number of different programs that are restricted from being adjusted these would include funds that would fall under the categories of: other special education funds, internally restricted funds and externally restricted funds. Some examples of the different educational programs that are subject to such restrictions would include: the Parent Teacher Coordinator, special education support staff and the Safe School Initiative just to name a few. The reason why some programs are under such restrictions is the funds could be ear marked for a particular program or may be necessary to be in compliance with the law (such as a cutting of funds to special education could result in the district…… [Read More]
We do not anticipate success is securing a non-voted debt issue. Given the time frame for the completion of the Commons project, the city will weigh our request vs. The upcoming needs for school repairs and roadwork. Education is a touchstone issue for voters, and roadwork affects all voters in the city. hould council decide to issue any of their remaining non-voted debt capacity, it is unlikely they would choose to use it for the Commons project ahead of those two other priorities.
Voted debt, however, they can issue. If the public votes 60% in favor, council will not face the same concerns about opportunity cost. We will not be competing for money with schools. A voter-approved special levy would function in much the same way (financed through property tax increases) but requires only a 50% vote in favor. Although the capacity for such special levies is only $90 million,…… [Read More]
The Office exacts a new level of accountability, which encourages a broader range of competitions and new organizations to enter these competitions. Congress authorizes the Office to develop the franchise funds pilots and to expand the competitive environment. It also invites the private sector to participate in new markets and at new levels of commercial workload. At the same time, it encourages the public to compete for the same work on a level playing field. To insure that the taxpayer continues to get the best out of the deal, the Office suggests a re-examination of outsourcing, cross-servicing and in-house performance decisions. The ultimate goal of the Office is to restore public faith in Government through a more effective management of its resources and by giving citizens and taxpayers greater value for their dollar. Federal employees have been found to be extremely cost competitive. Its Revised Supplemental Handbook expressly prefers private…… [Read More]
Sometimes state politics plays a major role and it shapes the outcomes of the legislative action in completely different ways. For example, the Texas Enterprise Fund was created in 2003. The main reason for its implementation of the fund was to attract new companies to Texas. However, the main point of debate here was that this fund was approved, when drastic budget cuts for state programs were being implemented (due to the economic recession). Where, this fund was contending for revenues that could have been allocated to: healthcare and insurance programs for the low-income families. In this case, state politics was a major factor in the creation of this fund. ("Texas Politics - Political Economy," 2010)
Another element that is sometimes associated with legislative action is "Pork" spending amendments. Simply put, this kind of spending is when various politicians will allocate funds, out of the budget for special projects in…… [Read More]
" (Structure of the Federal eserve System)
The 12 Federal eserve Banks extend banking service to the depository institutions and also to the federal government. To the financial institutions it takes the responsibility of maintaining reserve and clearing out accounts and entails various payment services incorporating checks, electronically transferring funds and circulating and receiving coins and currency notes. As the banker of the Federal Government they function as fiscal agents. They maintain the Treasury Department's transaction account; they pay treasury checks; enable to process electronic payments and issue transfer and redeem U.S. government securities. (eserve Bank Services)
The functions of Federal eserve start with the formulation of the Monetary Policy in accordance with the needs of the national economy. The Federal eserve System provides three basic tools for conducting the monetary policy such as open market operations, discount rate and reserve requirements. The Open Market Operations is used as the…… [Read More]
The problems facing Medicare recipients and the federal government almost seem to be overwhelming. There are proponents of a plan to privatize Social Security and health insurance, placing the onus on the individual to pay for his own health care through savings specifically for this. Some others would have the program go through the private HMOs who have, in the past, contained the costs of care by having primary care physicians manage a patient's care and purposely keeps the costs of care down.
As with Medicaid, the recipients of Medicare would have difficulty obtaining health care without this program. The recipients would most likely have no other health insurance. The trend being what it is, a lot of individuals retiring today are fortunate to have pensions from their companies, much less health benefits. ithout a national health insurance plan, like Medicare, those individuals would have to pay for health care…… [Read More]
Federal Communications Commission (FCC)
Communications have always been critical to humankind's existence and the absence of which means there would have never been the development and evolution of groups, organizations, societies and even nations. The reason being is there be no ways and means of passing messages, information, and knowledge amongst each other. Thus, humankind would have still been living in the Stone Ages without headways made in the development of communications. ut communications though did not remain stagnant and confined to oral and written ones. Throughout the centuries various improvements have made communications faster and more sophisticated especially with the contributions provided by scientific and technological discoveries and innovations. Fast forward to the 19th and 20th centuries and modern communications have been enabled via radio, telephone, and television. A further boom in communications innovations came with the advent of computers and the Internet where humankind is now living in…… [Read More]
Budgeting and Cost Control Health Care
Budgeting and Cost Control in Health Care: Significance of Diagnosis-Related Groups and Defenders and Critics of the Current DRG system
Diagnosis-related groups, otherwise known as DRGs, are considered to be one of the building blocks of the modern healthcare and hospital system, for better or, some would say, for worse. DRGs are present in America as well as Australia, and the United Kingdom and are thus compatible with various systems of public and private funding of hospital services. Such hospitals provide individual healthcare consumers with the ability to receive hospital reimbursement under the Medicare Prospective Payment System (PPS), so long as their treatment is commensurate with the reimbursement guidelines outlined by that system.
Currently, DRGs are seen as a potential but problematic solution to rising health care costs. They offer the ability to combine quality and specific diagnostic services that target individual suffers with…… [Read More]
S. This has partially continued during the 90s as well, so protectionist barriers is one of the things Nissan needs to consider when exporting to its main partners.
There are two different actions Nissan may consider in the future in this sense. The first one refers to the fact that Renault, an European company, still holds a significant part of Nissan shares, which may facilitate exports on the European market. On the other hand, trade barriers can generally be avoided by direct implementation in the respective country, a measure which Japanese companies, especially Toyota, have successfully applied in the U.S. during the 80s.
2. Internal competencies
A. General Motor seems to be currently both the most important producer and the sales leader. However, this should come with several amendments. If we are referring to the market leader, there are several criteria worth mentioning. First of all, the number of cars…… [Read More]
In addition, just over $41 billion was removed from 2001 and 2003 tax cuts. The cuts in military spending will affect a wide variety of citizenry. Specifically, military personnel will be affected with reduced budgets across the board. This will result in a reduced readiness of the military to protect the United States, in the short-term and the long-term. This reduction in spending will also negatively affect civilian contractors and other companies that provide products and services to the military. This will result in lost revenues and decreased profitability for these organizations. A secondary effect of this could result in lost jobs and reduced tax revenues for the city, state and national governments, as well as reduced revenues for other businesses in the community, if these organizations implement worker layoffs.
Social Security cuts will negatively affect the growing population of Baby Boomers and those already receiving Social Security benefits. However,…… [Read More]
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…… [Read More]
yealy budget is an integal step in the administation of the ciminal justice system in the United States. The budget is the souce of funding fo all pogams and agencies administeed though the Justice Depatment and the success o failue of such pogams is dependent upon the budgetay pocess. This pape will assess how public policy affects the budgetay pocess and how each the Executive and Legislative banches of the U.S. Govenment teat policy in making decisions egading how the budget is oganized.
The ecent histoy of the budget pocess and its effects on the ciminal justice system in the United States is examined. Pat of this examination includes an explanation as to easons fo why the ciminal justice system has failed in ecent yeas to accuately eflect public policy and suggestions as to how changes in the budgetay pocess might alte the path and diection of the nation's ciminal…… [Read More]
The Category Totals for the 2006-2007 Biennial State Operating Budget, found in Chapter 176, Laws of 2005, are as follows:
Chapter 176 - Laws of 2005 - NH Operating Budget
Fiscal Year 2006
Fiscal Year 2007
Total Appropriation for Category 01
AS INCLUDED in SECTION 1.01-403,003,676 416,233,183
ESTIMATED SOUCE of FUNDS for CATEGOY 01, GENEAL GOVENMENT
AS INCLUDED in SECTION 1.01
FEDEAL FUNDS 17,924,517 17,918,180
OTHE FUNDS 106,867,295 105,489,779
GENEAL FUND 278,211,864 292,825,224
TOTAL 403,003,676 416,233,183
Total Appropriation for Category 02
ADMIN of JUSTICE & PUBLIC PTN
AS INCLUDED in SECTION 1.02-420,003,205 424,638,566
ESTIMATED SOUCE of FUNDS for CATEGOY 02, ADMIN of JUSTICE & PUBLIC PTN, as INCLUDED in SECTION 1.02
FEDEAL FUNDS 52,837,182 50,445,675
OTHE FUNDS 152,998,319 155,855,692
GENEAL FUND 213,213,595 217,790,891
TOTAL 420,003,205 424,638,566
Total Appropriation for Category 03
ESOUCE POTECTION & DEVELOPMENT
AS INCLUDED in SECTION 1.03-222,979,010 217,030,487
ESTIMATED SOUCE of FUNDS for…… [Read More]
Balanced Federal Budgets
The federal government has a wide variety of responsibilities, most of which stem from programs that the government has created. Some of these outlays are discretionary, but many are not. The trade-offs for the federal government are usually not a question economics, but politics. The current federal budget for FY2016 shows a deficit of $474 billion. The largest outlays are for social security ($891 billion), other mandatory programs ($627), defense ($589), Medicare ($529) and non-defense discretionary, which covers a wide variety of different programs. Finding $474 billion to cut there -- or some of that money in conjunction with tax increases -- is inevitably going to be a challenge. Much of government spending in the budget is in the form of mandatory programs. Further, many of these are impossible, politically, to reduce. One does not simply cut Medicare payouts without losing a strong voting bloc, for example.…… [Read More]
The 2016 federal budget as submitted but the office of the President of the United States is listed and summarized on the White House website. The overall theme of the budget is middle class economics. This is the main idea and concept behind the fiscal year 2016 federal budget. This brief report will list the budget details including the revenue and tax policies as well as the spending priorities and new initiatives. While middle class economics are the focus, there are lots of other things mentioned.
Initiatives of New Budget
The federal budget includes the following:
Improving access to high-quality child care and early education for parents with young children. The budget is supposed to ensure that children have access to high quality learning starting at birth by making several key investments (White House, 2015).
It would expand access to quality and affordable child care. The budget would…… [Read More]
Evaluate how Public Policy Decisions Affect the Receipt of Revenues
Politics and attitudes about where the various revenues should be spent can create heated amounts of debate. In the case of the Department of Defense, this can mean that periodic reviews could occur that can have an impact upon a host of different spending programs. At the same time, various assessments will take place with Secretary of Defense. Where, they will review the size and necessity of the various bases / personnel. A good example of this can be seen when the Secretary of Defense will recommend various base closures and force adjustments. As politics and changes in the Department's needs / availability of funds will affect what programs are going to receive the most appropriate amount of revenues.
Analyze the Economic Conditions that Affect Revenue Projections
The economic conditions will play a major role in determining how…… [Read More]
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…… [Read More]
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…… [Read More]
Health Care Reform Federal Deficit
The American Health Care Crisis and the Federal Deficit
The United States spends more than any other country on medical care. In 2006, U.S. health care spending was $2.1 trillion, or 16% of our gross domestic product. At the same time, more than 45 million Americans lack health insurance and our health outcomes (life expectancy, infant mortality, and mortality amenable to health care) are mediocre compared with other rich democracies. We spend too much for what we get.
Nothing is new about these sobering realities. The Nixon administration first declared a health care cost crisis in 1969. Four decades later, the United States still has not adopted systemwide cost controls because the politics of health care make it extraordinarily difficult to control costs. I explain below why this is so (Marmor, et al., 2009).
The starting point for understanding the politics of cost control is…… [Read More]
GFOA (Government Financial Officers Association) publishes criteria for awards that it uses as a means of enticing government agencies and their financial officers to improve the caliber of financial reports. In the private sector, consistency and usefulness in financial statements is enforced through different accounting standards that are set by a body and to which all publicly-traded companies must adhere. There is no government equivalent with respect to financial reporting. The GFOA awards are one of the only means by which some consistency in government reporting is done. The awards approach the issue in terms of defining best practices that the government agencies can use in their financial reporting. In order to analyze according to the GFOA criteria, the budget for the U.S. Department of Agriculture will used, as this was the basis for a prior budget analysis.
The call for more consistency and higher quality in government budget…… [Read More]
budgets of any major size will get most, but not necessarily all, of their money from taxpayers of several many sorts but the main goal of the agencies regardless of size and structure is to provide basic and needed services to the area they serve, whatever and wherever that may be.
While all budgets are quite similar in one form or another, they are all different in their own ways and this can include the aim(s) of the money to be spent, where the money will come from and the overall fiscal policy exercised within the budget including investment, tax rates and savings strategies.
Basic Description of each budget
Differences and similarities of each budget
Sources of evenues of each budget
Change of revenue accounts in the future
e. Budget's fit with mission of the domain
f. How to improve budget and/or revenue estimation for each budget
Budget Comparison…… [Read More]
budget process for Las Vegas Metropolitan Police Department (LVMPD). LVMPD was formed in 1973 as a result of the merger of the Las Vegas Police Department with the Clark County Sheriff's Department. LVMPD serves the city limits of Las Vegas along with unincorporated areas of Clark County.
LVMPD is funded by the City of Las Vegas and Clark County. Police department funding is based on a complex formula determined by population, calls for service, and the number of felony crimes from the previous year. Both city and county governments must approve not just the annual operating budget, but also their respective percentage of the budget. In addition to funding supplied by the two governments, the department itself generates approximately one-third of its funds though property tax and the charging for certain services, such as special events. A special sales tax to fund commissioned positions generates additional funding.
The Law Enforcement…… [Read More]
Federal Government has increased its presence in many ways in the last decade and has supplied much of the economy with its own purchases. These government acquisitions are important because they represent the collective buying power of the American people. The purpose of this essay is to examine the system of regulation that supplies the rules to government purchase entitled the Federal Acquisition egulation (FA). To demonstrate the practical usage of this regulation this essay will use four different types of contracts and investigate the details of these rules creating effective, efficient and accountable acquisition planning.
Fixed Price Contracts
The FA's Subpart 16.2 supplies the necessary information about these types of purchases. According to the text, " Fixed-price types of contracts provide for a firm price or, in appropriate cases, an adjustable price. Fixed-price contracts providing for an adjustable price may include a ceiling price, a target price (including target…… [Read More]
If we take the former approach, we must now combine men and women together demographically; women now work far more outside the home than they did in 1935. According to the United Nations, this is now roughly 80 years, meaning the retirement age should be pushed to 70, allowing 5-8 more years of pay ins, and far fewer years of pay outs (World Population Prospects, 2006). In addition, if we follow the original mandate, Social Security is a supplemental or emergency program, not meant for those who do not need it.
So, if we take a two-pronged approach; moving the retirement age to at least 70 and recategorizing those who take retirement benefits based on their savings and investment programs, we are in more of a fiscal position to tweak the system already in place. While this may seem unfair to some, if we think about it logically, those "baby…… [Read More]
5. What are the top 3 in monetary costs for capital improvement projects recommended for the ensuing fiscal year?
The top 3 costs for Special Warrant Articles for the upcoming budget are: The GMS site de-watering study (including design and cost) at $86,000, GMS/LMS safety locks and video surveillance at $56,431 and finally LMS Emergency Access Road at $44,000.
6. Excluding food service sales what are the top 3 revenue budget lines for the year 05/06?
The top three revenue line for the school year were: Federal Program Grant at $239,042, State School Building Aid at $238,392.16 and revenue from Other Local Sources at $165,049.
7. What is the total dollar amount for appropriations recommended by the School Board?
The total amount recommended by the School Board for the upcoming year is $19,514,314. This includes the $259,854 appropriated to Special Warrant Articles as well as the $19,254,460 appropriated for all…… [Read More]
Encourage more school districts to implement school breakfast programs by providing a 50% increase in the state's reimbursement rate for school breakfasts. (WG, 2006)
The California budget includes $400 million to implement a broad strategy to ensure that California is ready for public health emergencies and is properly equipped to handle them. This funding will enable the state to increase patient care capacity (also known as "surge capacity") to achieve the levels recommended by the federal Centers for Disease Control and Prevention (CDC) and the Health esources and Services Administration (HSA). In the past, California has responded to "moderate" local or regional public health emergencies, such as a fire, flood, explosion, or earthquake, with up to 10,000 casualties over a limited period. Measured against federal HSA benchmarks, California needs to increase response capacity in some areas. Emergency planning experts agree that the most critical element in preparing for surge needs…… [Read More]
Grant: Strengthening the Family Unit
Grant -- Strengthening the Family Unit
The program expenses described in this budget narrative are for the Year 1 Pilot. Subsequent years of program are dependent on the provision of additional funding, to be determined at the close of the Year 1 and upon satisfactory evaluation of the Pilot program.
Costs attributed to personnel with project coordination and budget oversight duties are assigned to this category. Two positions with direct project responsibilities are funded from this category: Project Coordinator, Project Trainer, and Project Administrator. The Project Coordinator and the Project Trainer are scheduled to work the equivalent of .50 FTE, and the Project Administrator is scheduled to work the equivalent of .35 FTE. The salary calculations are provided for 20 hours per week for the Project Coordinator and 15 hours per week for the Project Administrator.
% of Time…… [Read More]
"Put it on paper," Cintron advises, and adds, "The first step to creating a budget is simple: put down on paper what you are spending your money on. That sounds easy, but it takes discipline and honesty -- in other words, do not omit anything, no matter how small" (76). In fact, many of the clients who seek out Cintron's advice simply guess at how much money they are spending each month without ever committing a single item to paper. By listing all expenses, though, even the trivial ones, people can make a decision concerning how important these expenditures are to their lifestyles and eliminate those that can add up without people realizing it. For example, Cintron also notes that, "Cut unnecessary expenses. Once you see [what you are spending] in black and white, you can figure out what you can cut. I call it going on a money diet"…… [Read More]
budget components (Policy Document, Financial Plan, Operating Plan, Communications Device), rank them in order of importance in your opinion and justify your rank order.
ank 1: Policy Document: The Policy Document is synonymous with a Budget Document. The budget document can be a line item detailed listing of every expenditure for every department within the government operation. The document conveys the policies and procedures of the administration and outlines its funding.
The expenditure amount is a further clarification of the entity's commitment to their underlying cultural and operating practices which complement their specific organizational goals and organizational strategies. Organizational strategies in accordance to the Policy Document include the Strategic Planning Document which details how the organization will propel itself into the coming years as a strategic city seeking to attract the best and the brightest to start businesses and to be residents. As the underlying specific goals to the macro…… [Read More]
Federal eserve System is.
The Federal eserve System
The Federal eserve serves as the central bank of the United States. It was founded by the Congress in 1913 to serve the function of provide the nation with a secure and committed monetary and financial system.
Today the Federal eserve holds the responsibilities in four areas: (1) conducting the nation's monetary policy; (2) supervising and regulating banking institutions and protecting the credit rights of consumers; (3) maintaining the stability of the financial system; and (4) providing certain financial services to the U.S. government, the public, financial institutions, and foreign official institutions.
The Federal eserve System is controlled by the Board of Governors of the Federal eserve System who formulate the initial margin requirements under egulations T, U, and X. Margin loan increases and decrease in aggregate value and relative to market capitalization, affect margin requirements instrumentally affecting the prices of common…… [Read More]
What this shows is how the current financial crisis / recession have placed a drag on both programs that are facing severe challenges from the large numbers of uninsured. Where, the lack of health insurance is indirectly forcing people to turn to both programs, once their condition becomes so severe that it can no longer be ignored. At which point, the costs increase to treat these people which causes the overall levels of the national debt to increase.
However, the current recession is also having a direct impact on both entitlement programs. This is because a large number of aby oomers are approaching retirement age, which means that many will often look to both programs as way to supplement their income and health insurance. Then, when you combine this with the fact that the current recession is causing incomes to decline and health insurance premiums to increase, means that…… [Read More]
Alan Greenspan's testimony starts with a comparison between the state of the U.S. economy in July 2004, time of his present testimony, and the state of the economy in February 2004, the time of his previous testimony in front of the U.S. Congress.
In February 2004, the main problem of the U.S. economy, as identified by Greenspan, was the fact that the company's increase in income and net profits were related to a better use of human resources rather than on an increase in employment. In other words, despite the fact that the economy was on the rise, it failed to produce new jobs. This was a direct consequence, in Greenspan's opinion, of the risks associated with increased employments, more notably "corporate accounting and governance scandals," a "decline in stock prices" and the overall "geopolitical tensions"
As compared to the unemployment situation in February 2004, the period up to July…… [Read More]
Environmental Impact Requirements. As noted above, many citizens maintain that the aesthetic impact of cellular towers lowers their residential property values, but there are other concerns involved in such installations as well. According to Crowell (1996), there have been a number of concerns voiced about the potential health and environmental problems that electro-magnetic radiation from cellular communications towers and their supporting facilities may create. In an effort to protect the aesthetics of these communities as well as to ensure public health and safety, local governments have increasingly applied zoning powers to regulate tower installations by requiring setbacks from residential or commercial structures, imposing height restrictions, and requiring safe zones in the event the tower collapses or debris falls from the tower; in fact, some municipalities have specifically established setback requirements for towers based on health and environmental concerns (Crowell 6). Still other local governments have imposed moratoriums on issuing facility…… [Read More]
Agency: Oregon Park and ecreation Department (OPD)
Agency's Mission: "To provide and protect outstanding natural, scenic, cultural, historic, and recreational sites for the enjoyment and education of present and future generations" (OPD, 2011).
To attain its mission, the agency organizes its operations into six work areas; direct services, community support and grants, park development, central services, Oregon exposition center, and director's office (OP, 2011). The agency operates a total of sixteen programs scattered across the six work areas. Of the sixteen, Park Experiences takes up the largest amount of funds - approximately 36% of the total lottery revenues - and accounts for 39% of the agency's total budget (OPD, 2011)
Proposal: Cut down spending on Interpretative program.
Identified Need: OPD does not receive any funding from the General Fund Tax kitty, and only relies "on a mix of Other Funds, Lottery Funds and a small amount of Federal…… [Read More]
Budget Plan for $10 Million Fund Allocation
Positive economic development in any city in the United tates relies on the provision of effective, efficient, and strong infrastructures that will attract investment to generate job opportunities in the city. A central goal of any city is also to improve health outcomes for the residents to improve their health outcomes. City public officials should also provide safety and securities, and improve students achievements to enhance quality of human developments . However, a city officials are required to keep proper accounts of all income and expenditures to deliver high quality financial resources.
As a newly elected public official of the city of between 50,000 and 250,000 population, our goal is to attract investment opportunities in the city through effective use of budgetary control to meet the economic and health needs of the residents in order to enjoy 100% federal funds. Our goal is…… [Read More]
The reason for this shortfall, as noted by the Balance Budget website, emanates from pension costs, previously agreed to cost of living pay increases, rising health care costs overall and a general weakness in the overall economic recovery that has ensued, albeit very slowly, since the end of the so-called "Great ecession" period that ended in approximately 2009 for the nation as a whole. The balance budget website notes that the shortfall in question is equivalent to 20% of the total police officer salary budget, 60% of the total firefighter budget and over 100% of the city's expenses for their libraries and parks (L.A. Budget Challenge, 2013).
Los Angeles Mayor Antonio Villaraigosa, in this budget summary document, notes that budget shortfalls will be addressed through expenditure cuts and increase efficiency. He makes mention of "painful" layoffs but not addressing the real problem of employee-level costs per person being the issue…… [Read More]
public budgeting comparisons of the federal, state and local budget distributions. This thesis will be focused on whether or not the increased budget allocations for transportation in the federal, state and local government will enhance travel security, efficiency, performance measures and &D development in the domain. The thesis will start off with a proposal for an agency that works across and is allocated budget in all the federal, state and local legislatures. The agency chosen for the thesis is the United States Department of Transportation. The proposal will include a detailed overview of the chosen agency inclusive of some financial data in recent years for the agency and a comparative analysis of the performance measures accomplished with those measures that were not completed. This will be followed by the details and comparative analysis of the budgetary performances of the federal, state and local budget departments in the United States which…… [Read More]
The final step in decrease law enforcement budgets was the cut of 20% federal prison system. As of right now, prisons take up millions of dollars to house drug offenders and other non-violent criminals. These funds are needed elsewhere, and so they must be taken from keeping up the building and regulation of so many unnecessary prisons in the United States.
In terms of protecting consumers much needed to be done. To ensure consumers protection on investments, deposit insurance increased by 10%. This will allow people to renew faith in the banking system in they have more insurance on their deposits. Additionally, I cut 20% of tax cuts for the richest 1% of tax payers, 10% for the second two richest. Hold even for the third, and an increase of 10% for the bottom tax payers. Furthermore, I cut 20% of untaxed foreign profits and 10% of tax benefits for…… [Read More]
"Failure of any district to budget funds to meet statutory requirements is a very serious matter and will result in the executive county superintendent rejection of the budget. The district will be advised of any lack of budget approval with specific recommendations on necessary corrective revisions." (New Jersey Department of Education 2013, P 14).
3. Key Budget Terminology
There are numerous terminologies with regard to the school district budget. The most important budget terminologies are
The revenue is the money received by the school district within an accounting year. A fund is part of the revenue and there are four sources of revenue for the school district and this include:
Intermediate source, state, and Federal sources.
Expenditures are the expenses that the school district must fulfill within an accounting year. Part of the school district expenditures are the payment of teachers' salary, and travel expenses for…… [Read More]
Public Admin General Budget Allocation
Social Insurance (aid to the elderly, disable, unemployed)
Public Education (K -- Universities)
Environmental Management (regulate clear and clean water; regulate the handling & disposal of hazardous & radioactive wastes)
Support of Cultural Institutions (e.g. libraries, museums, zoo, etc.)
Conservation of Natural Resources
Management of National Parks % Lands
Manage Law and Order
Build and Maintain Roads, Dams, & Other Infrastructure
A critique of the general thought process used to reach a consensus on the various public policy categories
In choosing the public policy category, it is crucial to determine the necessary resources and measures that should prioritize the percentage budget allocation for the federal government. Security of the federal government is crucial to the development and growth of the nation. This makes security reasonable to command large portion of the budget allocation.…… [Read More]
FY2012 President's Budget For Health Human Services
One of the most prominent roles of the federal government in health care is as a purchaser of health insurance and third-party payer for health care. The federal government serves in this capacity for almost forty million elderly and disabled persons, nine million federal government employees and their dependants, and six million active members of the military and their families. It finances, in combination with the states, state-run insurance programs for the poor and near-poor children. It runs a health care delivery system intended to serve military veterans. Additionally, the federal government influences the health system by serving as a main locus for collecting health data and the principal source of funding for health services research. Notably missing is a national health planning task, although various federal agencies track health system characteristics, trends and aspects of performance (Public and private sector roles…… [Read More]