Governmental Budgeting Process

A budget is a watchfulness tool that is cave in in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In unity sense, budgets are studys annually concord on by the administrator and legislative branches that allow executive agencies and departments to ready and spend unexclusive funds in specify ways for the coming fiscal year, as stated by Stillman in The American Bureaucracy Richard Stillman points out that budgets impose a vulgar constitute of juristic obligations between elected and plant officers of public organizations with regard to taxation and expenditure policies, therefore, is a legal contract that provides a vehicle for fiscal controls over dependant units of government by the politically elected represendatives of the people. Budgeting is the process of: identifying, gathering, summarizing and communicating, monetary and non-financial info about an organizations activities for a set period. erst identif ied, activities are evaluated and screened by estimating how they affect future hard currency (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to care totaly match the goals with the resources necessary to reach those goals. (Peterson & deoxyadenosine monophosphate; Fabozzi, 2002).

Each of these step is crucial to the overall advantage of the budgeting process. If one step is left field out or glide over, the success of the budget could last fail due to the omit of thoroughness. They are an effective tool, and the success of the budget hinges on the adherence to these stages. T! he federal budget runs in an entire fiscal year, which goes from October 1 to September 30. The Office of instruction and Budget first helps to force the federal budget. It is then sent to the president, the central part of the budgetary administration, and he must nurse it, and afterwards it is sent to Congress. another(prenominal) governmental structure touch in the budgetary system is the General Accounting Office. The GAO is...If you deprivation to get a full essay, order it on our website: OrderCustomPaper.com

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