Week 1 Assignment 3 - David A Givens III Government...

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David A. Givens III Government Budgeting Systems Instructor: Mary Cline Assignment 3: Principles and Elements of the Budget Process
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1 Depending on the source, the budgeting process is defined as a systematic activity that develops a plan for the expenditure of a usually fixed resource during a given period to achieve a desired result. One of the main reasons public budgets are different than other forms of budgets is the fact that voters delegate the power of spending their money to the elected representatives. Frederick Cleveland once said that the public budgeting process was a plan for financing an enterprise or government during a definite period, which is prepared and submitted by a responsible executive to a representative body whose approval and authorization are necessary before the plan may be executed (Cleveland, 1915). No matter how the process is implemented the outcome is always to achieve the relevant economic and social goals of the country. The budget process is not simply an exercise in balancing revenues and expenditures one year at a time, but is strategic in nature, encompassing a multi-year financial and operating plan that allocates resources on the basis of identified goals. The mission of the budget process is to help decision makers make informed choices about the provision of services and capital assets and to promote stakeholder participation in the process (NAC, 1998). When dealing with an
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  • Winter '15
  • Mary Cline
  • Federal government of the United States, United Kingdom budget, budgeting process

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