Governmental Budgeting Process

A budget is a precaution tool that is put unmatched across in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In one sense, budgets are studys annually concord on by the decision maker 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 tag of reasoned obligations between elected and appointive officers of public organizations with regard to taxation and expenditure policies, therefore, is a legal contract that provides a vehicle for fiscal controls over subsidiary units of government by the politically elected represendatives of the people. Budgeting is the process of: identifying, gathering, summarizing and communicating, monetary and non-financial info about an organizations activities for a set period. er st identified, activities are evaluated and screened by estimating how they affect future cash in (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to care aboundingy match the goals with the resources necessary to reach those goals. (Peterson & adenosine monophosphate; 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 wishing of thoroughness. They are an effective tool, and the success of the budget hinge s on the attachment 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 give the federal budget. It is then sent to the president, the central part of the budgetary governing body, 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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