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Conclusion on the importance of budgeting
Advantages of the budgeting process
Conclusion on the importance of budgeting
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What are some questions that come to mind when you think of the budgetary process? Some may ask questions like what exactly does the budgetary process mean and how does it work? How has the budget process been handled in recent years and has it changed? How do we contribute to the budgetary process and does it benefit or affect us the people? The budget is an important document and process in state government and the decisions made can either benefit or affect the citizens of the states therefore it is of importance to us as well. The budget determines how much money is funded to each organization or company for example, how much money will be available for all of our public services. It also plays a role in how much we as Californians have to pay in taxes and fees. Therefore, our budget is a necessary part of the control system. Marian Radu states that “The budget is a financial plan covering, usually a period of one year is an important tool for short term planning and a control tool throughout the organization. It is also a short-term action plan whose purpose is to organize an effective manner and to coordinate all human and material resources of the enterprise.” First, the budgetary process has a series of steps it has to undergo before it can get signed off by the Governor. For example, the governor must first submit a complete plan as well as a specific statement with amounts for the state to each house in January where he will then reveal the budget at a formal press conference. Then, once the documents have been submitted to each of the house of legislature a budget bill is presented. The bill will also be introduced to the Assembly Budget Committee and the Senate Budget and Fiscal Review Committee. Following that there... ... middle of paper ... ...tem considering welfare/public assistance in the late twentieth century there has been an increase involvement by the government, and with this involvement it has included state and federal governments. According to huffingtonpost.com it said that “For Republicans, it was the sheer size of the spending cuts. For Obama and Reid, it was casting aside GOP policy initiatives that would have blocked environmental rules and changed a program that provides family planning services.” However the intended goal or policy provision was not kept, but in the end all sides won to a certain extent. Thirdly, besides knowing how the budget process functions and how it has changed we need to understand how we play a role because it affects us in communities as well. Finally, the budget process is an important aspect to understand because it determines various things in our life. We
I attended the Saturday Lab 1 session discussing the Denison Specialty Hospital case study. In our session, we had a through discussion into the different budget terminology. I learned about the difference between accrual and cash accounting methods, which is based on the timing of when the revenue and expenses are recognized. I also learned about responsibility centers as an organizational unit under the supervision of a manager, who is responsible for its activities and results. In addition, the manager is accountable for the budget of the department that they head. Therefore, a centralized form of management in developing the budget because it makes easier to because the information for the department budget is located
Mikesell, J. L. (2010). Fiscal administration: Analysis and applications for the public sector (8th ed.: 2010 custom edition). Mason, OH: Cengage Learning
O?Beirne, Kate. ?The State of Welfare: An old and tricky question resurfaces.? National Review 54.2 (February 11, 2002): 1--2. Online. Information Access Expanded
The Australian Budget is an annually published document which details the Federal Government's plans to affect the level of economic activity, resource allocation, and income distribution through the use of fiscal policy. It describes the framework which the government intends to follow during the next financial year which will result in the attainment of their objectives. The budget is a publication of the government's plans regarding the use of fiscal policy, and is published to parliament and the general public on “budget night”, so as to allow open dissemination about the status of public finances and to promote transparency in Australia's fiscal policy.
For government budgeting to be effective, the process that guides it must be an evolving one. As the government gets bigger, it will most likely destabilize the existing method. Therefore, it must change to keep pace with the demands and growth of the country. The process must be capable of handling the complexity of our nation and its multifaceted needs so it will always need revisions and restructuring to face these new challenges. Its ultimate goal must be to reinforce the government and strengthen the country.
Describe the federal budget process. Include the relationship between the federal budget and the health policy in your response.
Welfare has been a safety net for many Americans, when the alternative for them is going without food and shelter. Over the years, the government has provided income for the unemployed, food assistance for the hungry, and health care for the poor. The federal government in the nineteenth century started to provide minimal benefits for the poor. During the twentieth century the United States federal government established a more substantial welfare system to help Americans when they most needed it. In 1996, welfare reform occurred under President Bill Clinton and it significantly changed the structure of welfare. Social Security has gone through significant change from FDR’s signing of the program into law to President George W. Bush’s proposal of privatized accounts.
The strong, emerging central government worried conservatives, who supported a weak federal government with little interaction, and resulted in distinct party divisions (285). By allotting the federal government more political control during the early twentieth century, the government now can reign over state governments and affairs. Today many conservatives are still opponents to the strong federal government, finding issues with its involvement in local affairs, whether that be educational involvement through common core or business involvement through labor unions (Diamond 2; Weber 1). While the New Deal formed a divide between political parties, a divide that is still present in current politics, it also jump started the Conservative Movement. Assistance was provided to lower class citizens through New Deal programs.
In 1962, President John F. Kennedy raised the current welfare payments and renamed the program, Aid to Families with Dependent Children. Kennedy allowed states to require work in order to receive welfare, but didn’t require it. Kennedy also laid out the new goal for welfare in America, it was to “end poverty, not just alleviate poverty” (Background: Time for a new Approach). Kennedy said welfare should be “a hand up, not a hand out." Welfare continued to change...
p. 496). See also p. 495. The budget process, according to Marshall, is to "develop and communicate" how an organization's economic, industry, and organizational strategies will be effected within the budgeted time frame. People within the organization, from planners, economists, and managers, contribute to facets of the strategic budget process in order to meet organizational needs. Upper management then typically approves those budgets....
The federal government started taking on a bigger role in the turn of the twentieth century. President Roosevelt expanded federal authority with his New Deal program. The New Deal program was funded by the federal government, but administered by the states. This brought on the grant-in-aid system, a system in which the federa...
Participative budgeting has the advantage of transferring information from the subordinate to their superior This knowledge is likely to be more reliable and accurate as the subordinate has direct contact with the activity and therefore is in the best position to make budget estimates. Participative Budgeting also gives subordinates the opportunity to discuss organisational issues with superiors, in which an exchange of information and ideas can help to solve problems and agree future actions (Nouri & Parker 1998). This transferral of information is important particularly when dealing with a matter of high task difficulty as, the more difficult a task, the greater the need for consultation with subordinates. Participative budgeting has a higher performance rate when dealing with more difficult and more volatile tasks than non consultative budgeting (Lau & Tan 1998)
...ed that health problems and lack of affordable health care were barriers for many of the AFDC recipients to get off welfare. Clinton also wanted the states to play a wider role in the design of federal welfare programs. State and federal legislation now focused on personal responsibility, limiting stays on public assistance and imposing far more strict work requirements. These efforts to limit the federal role in services to the poor and to shift the responsibility to the states means that there are now fifty-one different welfare programs in the United States.
Budget is combining your income and expenses to decide how much money you are going to spend on an item. Budget is an important step to determine your financial health and financial stability. It’s an important financial tool because it can help plan for expenses, cut cost were unneeded, save for future goals, plan for emergencies that occur inexpediently, and list what you are spending and saving.
I learned that school budgets not only inform us of priorities, but they can also serve as a communication tool for the whole district. I feel as if our school could use the budget as an opportunity to discuss progress as well as our strategic plan, but they don’t. Teachers and parents rarely hear about the budget’s educational and operational objectives and accomplishments. This is definitely something my school could improve on, since the school budget should reflect the community and their values. I also think there is a skewed public, and even faculty, perception regarding the school budget. Some of these views include that the school budget is wasteful, administrators are overpaid, administrators are not forward-thinking, and money is spent in the wrong areas. These adverse perceptions of the school budget are often heard during difficult economic times, such as when our school district recently went on fiscal distress. However, I have learned that without meaningful involvement of the community, educators, and staff, these perceptions will never