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Fiscal Administration: Analysis and Applications for the Public Sector,9780155055285

Fiscal Administration: Analysis and Applications for the Public Sector

by
Edition:
5th
ISBN13:

9780155055285

ISBN10:
0155055283
Format:
Paperback
Pub. Date:
3/26/1999
Publisher(s):
Wadsworth Publishing
List Price: $92.00

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Summary

Ever wonder how federal finance really works? FISCAL ADMINISTRATION shows you how public budgets operate and lets you crunch the numbers yourself. And with the latest data from the US federal budget, including its breakdown, you can see for yourself how policymakers allocate money. Plus, each chapter includes stories for discussion from the private sector as well as from public finance. Run the numbers and debate the financial policies with FISCAL ADMINISTRATION.

Table of Contents

About the Author iv
Preface v
INTRODUCTION Fundamental Principles of Public Finance 1(26)
Market Failure and the Functions of Government
2(8)
Public Goods
3(4)
Externalities
7(1)
Failure of Competition
8(2)
Privatization
10(4)
Building Social Decisions from Private Preferences
14(4)
Politics, Representation, and Government Finance
18(3)
The Layers of Government
21(3)
Conclusion
24(1)
Questions and Exercises
24(3)
Market Interplay, Municipal Utilities, and Common-Pool Resource
25(2)
PART ONE Budgeting, Budget Structures, and Budget Reform 27(246)
The Logic of the Budget Process
29(48)
The Size and Growth of Government Expenditure
30(8)
Budget Process and Logic
38(8)
The Parts of Public Expenditure/Public Revenue Process
39(1)
Budget's Traditional Look: Object of Expenditure (or input) format
40(4)
Functions of the Budget Process
44(2)
The Budget Cycle
46(9)
Executive Preparation
48(1)
Legislative Consideration
49(1)
Execution
50(3)
Audit and Evaluation
53(2)
Governmental Accounting and Financial Reporting
55(2)
Budgets and Political Strategies
57(8)
The Incrementalist Insight
57(1)
Roles, Visions, and Incentives
58(2)
Strategies
60(5)
Conclusion
65(1)
Questions and Exercises
65(12)
What Cost Matters For Making Decisions?
68(1)
Developing and Using Budget Strategy: The Earth Resources Technology Satellite (ERTS)
69(4)
Strategies in Defense of the Defense Budget
73(4)
Budget Structures and Institutions: Federal and State-Local
77(50)
The Federal Budget
77(39)
Spending by the Federal Government
78(2)
The Federal Budget Process
80(36)
State and Local Budgets
116(9)
Spending by State and Local Governments
116(2)
State and Local Government Budget Processes
118(7)
Conclusion
125(1)
Questions and Exercises
126(1)
Budget Methods and Practices
127(51)
Preparation of Agency Budget Requests
127(9)
Budget Justification
128(2)
Elements of Cost Estimation
130(6)
Review of Budgets
136(3)
The Executive Budget: The Plan and the Balancing
139(8)
Phantom Balance and Deficit Reduction
141(6)
Managing Budget Execution
147(4)
Internal Controls
150(1)
Audit and Evaluation
151(3)
Conclusion
154(1)
Questions and Exercises
154(12)
Green Felt-Tip Pens, a Tape Recorder, and Embezzlement
159(2)
Broad-Rule Cuts of Unnecessary Travel
161(4)
Balancing the Chicago Public School Budget
165(1)
Appendix 3-1: Budget Preparation, or How to Be a Budget Analyst
166(12)
Budget Classifications and Reform
178(45)
Alternative Budget Classifications and Provision of Government Services
179(7)
Traditional Budgets: A Flawed Tool for Decision Making
182(4)
Performance Budgets
186(3)
Program Budgets
189(9)
An Illustration of an Expenditure in Alternative Classifications
198(1)
A Different Budget Logic: Zero-Based Budgets
199(3)
Restructuring the Logic of Governments: New Performance Budgeting
202(7)
Conclusion
209(1)
Appendix 4-1 The Federal Functional Classification
210(5)
Questions and Exercises
215(8)
Following Departmental Lines (and scores?)
218(1)
A View of Zero-Based Budgeting
219(4)
Capital Budgeting, Public Infrastructure, and Project Evaluation
223(50)
Why Have a Capital Budget?
224(4)
A Capital-Budgeting Process
228(8)
The Capital Improvement Plan
229(1)
Long-term Financial Analysis
230(1)
The Capital Component of the Annual Budget
231(5)
Executing the Capital Budget
236(1)
Problems in Capital Budgeting
236(2)
Accounting for Time: Discounting and Compounding
238(6)
Cost-benefit analysis
244(17)
Elements in Cost-Benefit Analysis
246(1)
Project Objectives
246(1)
Benefit Estimation and Valuation
247(3)
Estimating Project Costs
250(2)
Selecting a Discount Rate
252(2)
Decision Criteria
254(3)
Some Special Problems of Cost-Benefit Analysis
257(1)
Multiple Objectives
257(2)
Valuing Projects that Save Lives
259(1)
Cost-Benefit Analysis and Political Decisions
260(1)
Conclusion
261(1)
Questions and Exercises
261(12)
What Does Cost Mean?
267(1)
The GAO on the Need for a Federal Capital Budget
268(5)
PART TWO Revenue Sources, Structure, and Administration 273(258)
Taxation: Evaluation Criteria
275(40)
Taxation in the United States: A Short Overview of the Systems
276(6)
Standards for Tax Policy
282(23)
Equity
283(3)
Horizontal and Vertical Equity
286(7)
Business and Individual Shares
293(1)
Adequacy or Revenue Production
294(5)
Collectability
299(1)
Economic Effects
300(1)
State Local Taxes and Economic Development
301(3)
Transparency
304(1)
Taxes and Externalities
305(3)
Conclusion
308(1)
Questions and Exercises
308(7)
Politics and the Protection of Tax Advantages
309(6)
Major Tax Structures: Income TAxes
315(35)
Some Background
316(3)
The Argument about Taxing Income
319(3)
For the System of Taxing Income
319(1)
Against the System of Taxing Income
320(2)
Individual Income Taxation
322(17)
Defining Income
323(2)
Adjusted Gross Income
325(2)
Personal Deductions
327(2)
Taxable Income
329(2)
Tax Rates
331(4)
Credits
335(1)
Effective Tax Rates
336(1)
Indexation
337(1)
Tax Computation
338(1)
Corporate Income Taxation
339(3)
Payroll Taxation
342(2)
Conclusion
344(1)
Questions and Exercises
344(6)
What Rate?
347(3)
Major Tax Structures: Taxes on Goods and Services
350(37)
Selective Excise Taxation
355(5)
Luxury Excises
356(1)
Sumptuary Excises
357(1)
Benefit-Base Excises
358(1)
Regulatory and Environmental Excises
359(1)
Other Excises
360(1)
General Taxes on Goods and Services: Retail Sales and Value-Added Taxes
360(10)
Retail Sales Taxes
362(3)
Exclusion of Producer's Goods
365(2)
Coverage of Services
367(1)
Commodity Exemptions
368(1)
Use Taxes
369(1)
Value-Added Taxes
370(6)
Conclusion
376(1)
Questions and Exercises
376(11)
Sales Tax and Used Cars
378(4)
Girl Scout Cookies and the Snack Tax
382(2)
Complying with the Canadian VAT
384(3)
Major Tax Structures: Property Taxes
387(44)
The Arithmetic of Rates, Levies, and Assessed Value
390(2)
Assessment of the Base
392(8)
Appraisal Standards: Property Assessment
393(3)
Doing Assessment: Cycles
396(1)
Doing Assessment: Methods
397(2)
Managing Property (Parcel) Data
399(1)
Property Tax Relief
400(9)
Exemptions and Abatements
401(3)
Circuit Breaker Credits
404(2)
Deferrals
406(1)
Classification
407(1)
Tax Increment Financing
408(1)
Problems of the Property Tax
409(11)
Fractional Assessment and Assessment Uniformity
409(9)
Limits and Controls
418(2)
Conclusion
420(1)
Questions and Exercises
421(10)
Use-Value Assessment for Farmland: Some Operational Questions
425(2)
Finding Revenue in Reassessment
427(2)
Property Taxes and a World-Class House
429(2)
Revenue From User Fees, User Charges, and Sales by Public Monopolies
431(28)
User Fees and Licenses
434(2)
User Charges
436(9)
Advantages of User Charges
438(2)
Limitations of User Charges
440(1)
Charge Guidelines
441(4)
Public Monopoly Revenue: Utilities, Liquor Stores, and Gambling Enterprises
445(6)
Government Utilities
445(1)
Liquor Stores
446(1)
Gambling Enterprises
446(2)
Lotteries
448(3)
Conclusion
451(1)
Questions and Exercises
451(8)
Entrepreneurial Revenues in State Parks
455(4)
Collecting Taxes
459(19)
Why Do People and Businesses Pay the Tax They Owe?
459(2)
Taxpayer Active or Taxpayer Passive?
461(2)
The Core Functions of Tax Collection
463(8)
Taxpayer Registration/Service
463(1)
Declaration/Assessment
464(1)
Revenue and Taxpayer Accounting
465(1)
Delinquency Control/Compliance/Collections
466(1)
`Audit
467(2)
Appeal or Protest
469(1)
Enforcement
470(1)
The Administrative Structure
471(3)
Centralization
471(1)
Integration of Activities
472(2)
Total Collection Cost
474(3)
Conclusion
477(1)
Question and Exercise
477(1)
Revenue Forecasting, Revenue Estimating, and Tax Expenditure Budgets
478(24)
Revenue Forecast (or Baseline)
479(11)
General Guides for Revenue Forecasts
480(2)
Alternative Methods for Forecasting
482(6)
Choosing the Method
488(1)
Forecasts for the Long Term
489(1)
Revenue Estimating
490(2)
Tax-Expenditure Budgets
492(4)
Conclusion
496(1)
Questions and Exercises
496(2)
Appendix 12-1: The State of Minnesota Tax-Expenditure Budget: Criteria and Measurement
498(4)
Intergovernmental Fiscal Relations: Diversity and Coordination
502(29)
Correspondence and Subsidiary
503(2)
What about Economic Advantage from Bigness?
505(2)
Fiscal Disparity
507(1)
Coordination and Assistance: Tax Systems
508(5)
Coordination and Assistance: Grants
513(9)
Categorical Grants
517(2)
Block Grants
519(2)
Revenue Sharing (General Purpose Fiscal Assistance)
521(1)
States and School Aid
522(2)
Coordination Assistance: Mandates
524(3)
Conclusion
527(1)
Questions and Exercises
527(4)
It Worked Once, but Would It Work Again?
527(4)
PART THREE Administering Debt, Working Capital, and Pension Funds 531(81)
Debt Administration
533(52)
Federal Debt
533(7)
State and Local Government (Municipal) Debt
540(27)
Municipal Bonds and the Tax Reform Act of 1986
543(2)
Appropriate Debt Policy
545(1)
The Mechanics of Bond Values
546(2)
Debt Structure and Design
548(2)
Ratings
550(8)
Credit Enhancements
558(1)
Underwriting, Interest Rates, and Ownership
559(6)
Lease-Purchae Finance and Certificates of Participation
565(2)
Conclusion
567(1)
Questions and Exercises
567(3)
Appendix 14-1: A County Debt Policy Statement
570(3)
Appendix 14-2: Standard & Poor's Rating Criteria for General-Obligation Debt
573(12)
Managing Funds: Working Capital and Employee Retirement
585(27)
Cash Management and Working Capital
585(18)
Elements of Cash Management
588(7)
Investable-Funds Management
595(8)
Keeping Score
603(1)
Managing Public Employee Retirement Funds
603(9)
Retirement Fund Investments
608(1)
Critical Issues in Public Employee Retirement Fund Management
609(3)
Conclusion 612(1)
Glossary 613(14)
Selected Bibliography 627(8)
Index 635


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