Procedures, Challenges and Accountability
Not what you're looking for?
Hello, I would appreciate assistance with the following questions:
1. Explain why and how state and local governments should install procedures to prevent loss of public funds.
2. A first-time budget analyst faces challenges in the new role. Identify and discuss three (3) strategies you may use to ensure that you are effective in the role.
3. The private sector is accountable to both the government as well as stakeholders/shareholders. Who is the government accountable to?
Reference:
Mikesell, J. L. (2010). Fiscal administration: Analysis and applications for the
public sector (8th ed.: 2010 custom edition). Mason, Ohio: Cengage Learning.
Purchase this Solution
Solution Summary
The expert examines the procedures, challenges and accountability.
Solution Preview
1. Explain why and how state and local governments should install procedures to prevent loss of public funds.
Governments have a responsibility to the people and to the other governments and agencies that fund state and local governments to protect those funds from mismanagement or misappropriation. The funds are gained through programs that often have stipulations as to their use when funded by other government agencies. Taxes provide funds from people. People therefore expect the funds to be handled carefully and in the best interest of the population. Misappropriation or theft of funds can mean the difference between not only jail and freedom, but future political careers and jobs of those who directly handle these funds.
The first thing a government should do is look at the incoming funds and the disbursements to find how the money is to be managed. Any funding that is stipulated for specific uses, should be handled by creating the proper accounts and programs for the fund disbursement. For example, if the federal government provides funds for new roads and improvements within a specific area, such as a park or education facility, the local and state governments would set up the accounts on paper to track the money and its use. The government would then set up appropriate evaluations and controls and schedules for the funds to be used. Complying with reporting is enhanced when the controls match the requirements of compliance.
Every government should formulate a strategic plan for fund uses. The strategic plan is then turned over to the professionals to create the actual implementation plan, funding sources, projects, and assessment ...
Purchase this Solution
Free BrainMass Quizzes
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.