Public Budget Paper

Public budgets are the documents that codify and present the budget agreements reached in the budget process. This may seem like a mundane point, but scholarship can be divided into studies of the process and studies of the documents. Process research includes macro and micro decision making, budgetary politics, and fiscal federalism. Document research includes budget format, accountability, and transparency issues. Budget document and budget process studies are not mutually exclusive, as the reasons for altering documents invariably include efforts to alter budget process. Financial management encompasses the implementation and husbandry of efficient and effective spending during the implementation of the budget. The subfield of public and

According to OECD Senior Budget Officials (2014) the budget is a central policy document of government, showing how it will priorities and achieve its annual and multi-annual objectives. Apart from financing new and existing programs, the budget is the primary instrument for implementing fiscal policy, and thereby influencing the economy as a whole alongside other instruments of government policy such as laws, regulation and joint action with other actors in society the budget aims to turn plans and aspirations into reality. More than this, the budget is a contract between citizens and state, showing how resources are raised and allocated for the delivery of public services. Such a document must be clear, transparent and credible if it is to command trust, and to serve as a basis of accountability and draws together the contributions from ministers, parliamentarians, public officials and other trusted advisers, civil society organizations and advocacy groups and, increasingly, from citizens themselves. An effective budgetary practices is one that takes

Budgetary governance refers to the processes, laws, structures and institutions in place for ensuring that the budgeting system meets these objectives in a sustainable, enduring manner. Budgeting is not simply the preserve of central governments, it is a process that encompasses all levels of government, national and subnational, where different mandates and levels of autonomy apply in different countries. Budget systems and procedures should be coordinated, coherent and consistent across levels of government. These budget principles are therefore relevant, and should be applied as appropriate, to all levels of government. Moreover, budgeting is not a standalone process, removed from the other channels of government action. Good budgeting is supported by, and in turn supports, the various pillars of modern public governance: integrity, openness, participation, accountability and a strategic approach to planning and achieving national objectives. Budgeting is thus an essential keystone in the