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Fiscal Administration: Analysis and Applications for the Public Sector,9780155058552
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Fiscal Administration: Analysis and Applications for the Public Sector

by
Edition:
6th
ISBN13:

9780155058552

ISBN10:
015505855X
Format:
Paperback
Pub. Date:
10/3/2002
Publisher(s):
Wadsworth Publishing
List Price: $138.95
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Summary

1. Fundamental Principles of Public Finance. Part I: BUDGETING, BUDGET STRUCTURES, AND BUDGET REFORM. 2. The Logic of the Budget Process. 3. Budget Structures and Institutions: Federal and State-Local. 4. Budget Methods and Practices. 5. Budget Classifications and Reform. 6. Capital Budgeting, Public Infrastructure, and Project Evaluation. Part II: REVENUE SOURCES, STRUCTURE, AND ADMINISTRATION. 7. Taxation: Criteria for Evaluating Revenue Options. 8. Major Tax Structures: Income Taxes. 9. Major Tax Structures: Taxes on Goods and Services. 10. Major Tax Structures: Property Taxes. 11. Revenue from User Fees, User Charges, and Sales by Public Monopolies. 12. Collecting Taxes. 13. Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets. 14. Intergovernmental Fiscal Relation: Diversity and Coordination. Part III: ADMINISTERING DEBT, WORKING CAPITAL, AND PENSION FUNDS. 15. Debt Administration. 16. Managing Funds: Cash Management and Employee Retirement Funds.

Author Biography

John L. Mikesell is professor of public and environmental affairs at Indiana University and director of professional graduate programs for the School of Public and Environmental Affairs.

Table of Contents

About the Author iii
Preface iv
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(13)
Building Social Decisions from Private Preferences
14(4)
Politics, Representation, and Government Finance
18(2)
The Layers of Government
20(3)
Conclusion
23(1)
Questions and Exercises
24(1)
Case for Discussion
25(2)
Market Interplay, Municipal Utilities, and a Common-Pool Resource
25(2)
PART ONE Budgeting, Budget Structures, and Budget Reform 27(250)
The Logic of the Budget Process
29(50)
The Size and Growth of Government Expenditure
30(6)
Budget Process and Logic
36(10)
The Parts of the Public Expenditure/Public Revenue Process
38(2)
A Budget's Traditional Look: The Object-of-Expenditure (or Input) Format
40(4)
Functions of the Budget Process
44(2)
The Budget Cycle
46(9)
Executive Preparation
47(2)
Legislative Consideration
49(1)
Execution
50(2)
Audit and Evaluation
52(3)
Governmental Accounting and Financial Reporting
55(4)
Budgets and Political Strategies
59(8)
The Incrementalist Insight
59(1)
Roles, Visions, and Incentives
60(2)
Strategies
62(5)
Conclusion
67(1)
Questions and Exercises
67(2)
Cases for Discussion
69(10)
What Cost Matters for Making Decisions?
69(2)
Developing and Using Budget Strategy: The Earth Resources Technology Satellite (ERTS)
71(3)
Strategies in Defense of the Defense Budget
74(5)
Budget Structures and Institutions: Federal and State-Local
79(51)
The Federal Budget
79(39)
Spending by the Federal Government
80(2)
The Federal Budget Process
82(36)
State and Local Budgets
118(10)
Spending by State and Local Governments
120(8)
Conclusion
128(1)
Questions and Exercises
129(1)
Budget Methods and Practices
130(52)
Preparation of Agency Budget Requests
130(10)
Budget Justification
131(3)
Elements of Cost Estimation
134(1)
Personnel Costs: Paying the Staff
134(2)
Nonpersonnel Costs
136(1)
Screening for Errors
137(3)
Review of Budgets
140(3)
The Executive Budget: The Plan and the Balancing
143(7)
Phantom Balance and Deficit Reduction
145(5)
Managing Budget Execution
150(6)
Internal Controls
154(1)
An Intra-Year Cash Budget
155(1)
Audit and Evaluation
156(3)
Conclusion
159(1)
Questions and Exercises
159(7)
Cases for Discussion
166(4)
Green Felt-Tip Pens, a Tape Recorder, and Embezzlement: Where Did the Budget Process Fail?
166(3)
Balancing the Chicago Public School Budget
169(1)
Budget Preparation, or How to Be a Budget Analyst
170(12)
Budget Classifications and Reform
182(49)
Alternative Budget Classifications and the Provision of Government Services
183(8)
Traditional Budgets: A Flawed Tool for Decision Making
186(5)
Performance Budgets
191(3)
Program Budgets
194(8)
An Illustration of an Expenditure in Alternative Classifications
202(1)
A Different Budget Logic: Zero-Based Budgets
203(3)
Restructuring the Logic of Governments: New Performance Budgeting
206(11)
Some Caveats about New Performance Budgeting
214(3)
Conclusion
217(1)
Questions and Exercises
218(5)
Cases for Discussion
223(4)
Following Departmental Lines (and Scores?)
223(1)
A View of Zero-Based Budgeting
224(3)
Functional Categories of the Federal Budget
227(2)
COFOG
229(2)
Capital Budgeting, Public Infrastructure Investment, and Project Evaluation
231(46)
Why Have a Capital Budget?
233(4)
A Capital Budgeting Process
237(6)
Problems in Capital Budgeting
243(2)
Accounting for Time: Discounting and Compounding
245(6)
Cost-Benefit Analysis
251(17)
Elements in Cost-Benefit Analysis
253(6)
Selecting a Discount Rate
259(3)
Decision Criteria
262(2)
Some Special Problems of Cost-Benefit Analysis
264(4)
Conclusion
268(1)
Questions and Exercises
268(6)
Case for Discussion
274(3)
What Does Cost Mean?
274(3)
PART TWO Revenue Sources, Structure, and Administration 277(264)
Taxation: Criteria for Evaluating Revenue Options
279(39)
Taxation in the United States: A Short Overview of the Systems
280(6)
Standards for Tax Policy
286(22)
Equity
287(10)
Adequacy of Revenue Production
297(4)
Collectability
301(1)
Economic Effects
302(3)
State and Local Taxes and Economic Development
305(1)
Transparency
306(2)
Taxes and Externalities
308(2)
Conclusion
310(1)
Questions and Exercises
311(1)
Case for Discussion
312(6)
Politics and the Protection of Tax Advantages
312(6)
Major Tax Structures: Income Taxes
318(35)
Some Background
319(3)
The Argument about Taxing Income
322(3)
For the System of Taxing Income
322(1)
Against the System of Taxing Income
323(2)
Individual Income Taxation
325(18)
Defining Income
325(2)
Adjusted Gross Income
327(3)
Personal Deductions
330(2)
Personal Exemptions
332(2)
Taxable Income
334(1)
Tax Rates
335(4)
Credits
339(1)
Effective Tax Rates
339(2)
Indexation
341(1)
Tax Computation
342(1)
Corporate Income Taxation
343(4)
Payroll Taxation
347(2)
Conclusion
349(1)
Questions and Exercises
349(4)
Tax Structures: Taxes on Goods and Services
353(37)
Selective Excise Taxation
358(5)
Luxury Excises
359(1)
Sumptuary Excises
360(1)
Benefit-Base Excises
361(1)
Regulatory and Environmental Excises
362(1)
Other Excises
363(1)
General Taxes on Goods and Services: Retail Sales and Value-Added Taxes
363(18)
Retail Sales Taxes
366(2)
Exclusion of Producers' Goods
368(3)
Taxation of Services
371(1)
Commodity Exemptions
371(2)
Remote Vendors and Use Taxes
373(2)
Value-Added Taxes
375(2)
VAT Features
377(3)
VAT versus RST
380(1)
Conclusion
381(1)
Questions and Exercises
382(1)
Cases for Discussion
383(7)
Sales Tax and Used Cars
383(4)
Girl Scout Cookies and the Snack Tax
387(3)
Major Tax Structures: Property Taxes
390(40)
The Arithmetic of Rates, Levies, and Assessed Value
393(11)
Doing Assessments: Standards
395(3)
Doing Assessment: Cycles
398(2)
Doing Assessments: Approaches
400(2)
Doing Assessments: Managing Parcel Data
402(2)
Property Tax Relief Mechanisms
404(15)
Exemptions and Abatements
404(2)
Circuit-Breakers
406(2)
Deferrals
408(1)
Classification
409(1)
Tax Increment Financing
410(1)
Fractional Assessment and Assessment Disparity
411(6)
Limits and Controls
417(2)
Conclusion
419(1)
Questions and Exercises
420(5)
Cases for Discussion
425(5)
Use-Value Assessment for Farmland: Some Operational Questions
425(2)
Finding Revenue in Reassessment
427(2)
Property Taxes and a World-Class House
429(1)
Revenue from User Fees, User Charges, and Sales by Public Monopolies
430(29)
User Fees and Licenses
434(2)
User Charges
436(9)
Advantages of User Charges
438(2)
Limitations of User Charges
440(2)
Charge Guidelines
442(3)
Public Monopoly Revenue: Utilities, Liquor Stores, and Gambling Enterprises
445(7)
Government Utilities
446(1)
Liquor Stores
447(1)
Gambling Enterprises
447(2)
Lotteries
449(3)
Conclusion
452(1)
Questions and Exercises
452(3)
Case for Discussion
455(4)
Enterpreneurial Revenues in State Parks
455(4)
Collecting Taxes
459(21)
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(9)
Taxpayer Registration/Service
463(1)
Declaration or Assessment
464(1)
Revenue and Taxpayer Accounting
465(1)
Delinquency Control, Compliance, and Collections
466(1)
Audit
467(3)
Appeal or Protest
470(1)
Enforcement
471(1)
Total Collection Cost
472(3)
Conclusion
475(1)
Questions and Exercises
475(1)
Case for Discussion
476(4)
The Kursk Tax Inspector
476(4)
Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets
480(28)
Revenue Forecast (or Baseline)
481(13)
General Guides for Revenue Forecasts
482(2)
Alternative Methods for Forecasting
484(1)
Univariate Projections and Extrapolations
484(2)
Deterministic Modeling
486(1)
Multiple Regression
486(2)
Econometric Models
488(1)
Microdata Models
489(2)
Choosing the Method
491(1)
Forecasts for the Long Term
492(1)
Wrong Forecasts
493(1)
Revenue Estimating
494(2)
Tax Expenditure Budgets
496(5)
Conclusion
501(1)
Questions and Exercises
502(2)
The State of Minnesota Tax Expenditure Budget: Criteria and Measurement
504(4)
Intergovernmental Fiscal Relations: Diversity and Coordination
508(33)
Correspondence and Subsidiarity
509(2)
What about Economic Advantage from Bigness?
511(1)
Fiscal Disparity
512(2)
Coordination and Assistance: Tax Systems
514(5)
Coordination and Assistance: Grants
519(10)
Categorical Grants
522(4)
Block Grants
526(2)
Revenue Sharing (General-Purpose Fiscal Assistance)
528(1)
States and School Aid
529(2)
Coordination and Assistance: Mandates
531(3)
Conclusion
534(1)
Questions and Exercises
535(1)
Cases for Discussion
535(6)
It Worked Once, But Would it Work Again?
535(2)
Correspondence, Subsidiarity, and the Tenn-Tom Waterway
537(4)
PART THREE Administering Debt, Working Capital, and Pension Funds 541(81)
Debt Administration
543(41)
Federal Debt
544(6)
State and Local Government (Municipal) Debt
550(27)
Municipal Bonds and the Tax Reform Act of 1986
553(1)
Appropriate Debt Policy
554(2)
The Mechanics of Bond Values
556(1)
Debt Structure and Design
557(3)
Ratings
560(7)
Credit Enhancements
567(2)
Underwriting, Interest Rates, and Ownership
569(6)
Lease-Purchase Finance and Certificates of Participation
575(2)
Conclusion
577(1)
Questions and Exercises
577(4)
A County Debt Policy Statement
581(3)
Managing Funds: Cash Management and Employee Retirement Funds
584(38)
The Cash Budget and Cash Management
585(18)
Elements of Cash Management
587(2)
Acclerating Collections
589(3)
Controlling Disbursements
592(2)
Consolidating Balances
594(1)
Investing Idle Funds
595(2)
Treasury Bills
597(2)
Other Federal-Agency Issues
599(1)
Negotiable Certificates of Deposit
599(1)
Commercial Paper
600(1)
Repurchase Agreements (Repo) and Reverse Repurchase Agreements
600(1)
State and Local Debt
601(1)
State Investment Pools
601(1)
Money-Market Mutual Funds
602(1)
Keeping Score (Measuring Performance)
602(1)
Managing Public Employee Retirement Funds
603(8)
Critical Issues in Public Employee Retirement Fund Management
608(3)
Conclusion
611(1)
Questions and Exercises
611(1)
Cases for Discussion
612(10)
Managing Cash for the Sheriff's Interest?
612(5)
The Underfunded West Virginia Public Employees' Pension Fund
617(5)
Appendix: Some Websites for Fiscal Administration Data and Information 622(4)
Glossary 626(14)
Selected Bibliography 640(9)
Index 649


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