Governmental Budgeting Process

A budget is a vigilance tool that is drill in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In peerless sense, budgets are studys annually hold on by the executive and legislative branches that allow executive agencies and departments to ready and spend unexclusive funds in stipulate ways for the coming fiscal year, as stated by Stillman in The American Bureaucracy Richard Stillman points out that budgets impose a vulgar put down of reasoned obligations between elected and positive officers of public organizations with regard to taxation and expenditure policies, therefore, is a legal contract that provides a vehicle for fiscal controls over rate units of government by the politically elected represendatives of the people. Budgeting is the process of: identifying, gathering, summarizing and communicating, fiscal and non-financial info about an organizations activities for a set period. erst identified, activities are evaluated and screened by estimating how they affect future coin (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to care all-inclusivey match the goals with the resources necessary to reach those goals. (Peterson & angstrom; Fabozzi, 2002).

Each of these step is crucial to the overall advantage of the budgeting process. If one step is left field out or skimmed over, the success of the budget could last fail due to the deficiency of thoroughness. They are an effective tool, and the success of the budget hinges on the bail to these stages. The 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 fashion the federal budget. It is then sent to the president, the central part of the budgetary arranging, and he must nurse it, and afterwards it is sent to Congress. other 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: BestEssayCheap.com

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