Importance Of Government Budget

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Resources are needed to provide public services and products. These resources are recorded in a government budget, which can then be developed further by making decision points for those services in what is called a budget process. Using the process, other options are opened with seven features to offer that are essential components to the budget process. These seven features include: “1. Realistic forecasts of receipts and other data useful for development of budgets. 2. Comprehensive and complete application of the budget system to all parts of the government. 3. Transparency and accountability as the budget is developed, approved, and executed. 4. Hard and enforced constraints on resources provided agencies, but with considerable flexibility…show more content…
Based on what budget system is chosen – policy, revenue, expenditure, or service – there will be the need to have that system be complete and clear, and put in place to every aspect and level of the government, be it local to state governments. The third feature means that budgets are gone through to make sure that they are clear of any inconsistencies, and that there are consequences if they are not. This also means that this responsibility is applied throughout the entire process, from development to…show more content…
are held to a standard where they must conserve those resources. However, how those agencies decide to deliver those resources is much more elastic. Should there be a technological or engineering advancement and an agency decides to use those advancements in the way they get those services to their consumers they will in high probability be allowed to do so, as long as it does not waste resources. What the fifth feature means is that unbiased performance standards must be set and used for the benefit of agencies and governments. These performance criterion will hold those agencies culpable for any mismanagement. This also means that these agencies must always monitor themselves and update those criterion regularly to keep the organization successful. Feature six is important to the budget process, because it is the feature that has the plans and implemented budgets and forms a resolution. This could be in taking plans and actually implementing them, or in discarding them before they are put into

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