Governmental Budgeting Process

A budget is a focus tool that is impose in planned expenditures and revenues. Budgets serve many important functions in political sympathies. In peerless sense, budgets are studys annually concur on by the executive director and legislative branches that allow executive agencies and departments to ready and spend unexclusive funds in qualify ways for the coming fiscal year, as stated by Stillman in The American Bureaucracy Richard Stillman points out that budgets impose a vulgar redact of sanctioned obligations between elected and prescribed officers of public organizations with regard to taxation and expenditure policies, therefore, is a legal contract that provides a vehicle for fiscal controls over overcome 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. erst identi fied, activities are evaluated and screened by estimating how they affect future hard cash (Peterson & angstrom unit; Fabozzi, 2002). This stage is important as it provides management with the opportunity to care overflowingy match the goals with the resources necessary to reach those goals. (Peterson & group A; Fabozzi, 2002).

Each of these step is crucial to the overall advantage of the budgeting process. If one step is left field out or skimmed over, the success of the budget could last fail due to the overleap of thoroughness. They are an effective tool, and the success of the budget hinges on the affixatio n to these stages. The federal bu! dget runs in an entire fiscal year, which goes from October 1 to September 30. The Office of instruction and Budget first helps to farm the federal budget. It is then sent to the president, the central part of the budgetary dodging, and he must nurse it, and afterwards it is sent to Congress. another(prenominal) 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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