Governmental Budgeting Process

A budget is a management tool that is apply in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In one sense, budgets are studys annually agreed on by the executive and legislative branches that allow executive agencies and departments to ready and spend unexclusive funds in specified ways for the coming fiscal year, as stated by Stillman in The American Bureaucracy Richard Stillman points out that budgets impose a vulgar set of legal obligations between elected and appointed officers of public organizations with regard to taxation and expenditure policies, therefore, is a legal contract that provides a vehicle for fiscal controls over subordinate units of government by the politically elected represendatives of the people.
Budgeting is the process of: identifying, gathering, summarizing and communicating, financial 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 cash (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to carefully match the goals with the resources necessary to reach those goals. (Peterson & 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 lack of thoroughness. They are an effective tool, and the success of the budget hinges on the adherence 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 create the federal budget. It is then sent to the president, the central part of the budgetary system, and he must nurse it, and afterwards it is sent to Congress. Another 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: Orderessay



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