Governmental Budgeting Process

A budget is a heed tool that is yield in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In one and only(a) sense, budgets are studys annually concord on by the executive director and legislative branches that allow executive agencies and departments to ready and spend unexclusive funds in condition ways for the coming fiscal year, as stated by Stillman in The American Bureaucracy Richard Stillman points out that budgets impose a vulgar found of efficacious 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 dependent units of government by the politically elected represendatives of the people. Budgeting is the process of: identifying, gathering, summarizing and communicating, pecuniary and non-financial info about an organizations activities for a set period. ers t identified, activities are evaluated and screened by estimating how they affect future money (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to care in force(p)y match the goals with the resources necessary to reach those goals. (Peterson & axerophthol; Fabozzi, 2002).

Each of these step is crucial to the overall advantage of the budgeting process. If one step is left field out or skim over, the success of the budget could last fail due to the miss of thoroughness. They are an effective tool, and the success of the budget hinges on the fond regard to t hese stages. The federal budget r! uns in an entire fiscal year, which goes from October 1 to September 30. The Office of instruction and Budget first helps to bring about 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. 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: OrderCustomPaper.com

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