A-Level Coursework on "Public Budgeting"
A-Level Coursework 10 pages (2684 words) Sources: 5
[EXCERPT] . . . .
Public BudgetingOver the last several years, the issue of public budgeting has been increasingly brought to the forefront for all levels of government. The main reason is because of the large budget deficits that are being realized by: local, state and federal governments from the stagnant economy. This is causing these entities to experience a shortfall in revenues. Evidence of this can be seen by looking at the debt levels for the federal government between 2000 and 2010 (which is illustrated in the below table).
National Debt Levels of the U.S. Government from 2000 to 2010
Total Amount of Debt
$5.674 trillion
$5.807 trillion
$6.228 trillion
$6.783 trillion
$7.379 trillion
2005
$8.507 trillion
2006
$9.008 trillion
2007
$9.008 trillion
2008
$10.025 trillion
2009
$11.910 trillion
2010
$13.562 trillion
2011
$15.355 trillion
("Historical Outstanding Debt," 2011) ("U.S. National Debt," 2012)
These figures are important, in showing how the rising debt levels are becoming a major challenge for all governments. To fully understand what is taking place requires looking at the federal, state, city and a local agency budget. During this process is when there will be a focus on: providing
download full paper ⤓
A Basic Description of each Budget
The different budgets that we will be examining include: the U.S. government, the State of Florida, the City of Miami, the Miami Dade Police Department and portion the U.S. Department of Agriculture (which will be discussed later on). The way that this will be achieved is by carefully examining each budget. This will offer specific insights that will help in comparing the budgets from the different levels of government with each other.
The U.S. Government
The budget of the U.S. government is focused on addressing issues that are affecting the nation domestically or internationally. Some of the different agencies that are used to address these objectives included: the Department of Defense, Homeland Security, Health & Human Services, Education and Energy. At the same time, the government also has large endowment programs to include: Medicare, Social Security and Medicaid. These different areas are important, because they allow the federal government to address the needs of citizens and the states through these programs. In most cases, they will spend the money directly by providing specific services to everyone (such as: national defense). While in other situations, the federal government will offer any assistance through various grants and direct funding. ("Fiscal Year 2013 Budget," 2012) ("Fiscal Year 2013 Historical Tables," 2012)
The State of Florida
The state of Florida is receiving large amounts of assistance for a host of programs from the federal government. A few of the most notable include: education, Medicaid / Medicare, agriculture the state will take the money that is received from various forms of tax revenues and funding from the federal government to deliver different services. In some cases, this is provided with the state playing a direct role (such as: corrections or education). While at other times, the state will offer direct financial assistance to local communities in addressing these issues. ("Governors 2012 Budget," 2012)
The City of Miami
The City of Miami receives their funding through different tax revenues and fines. A few of the most notable include: sales taxes, property taxes, grants from the state / federal government and fines. These funds are used to provide specific services to the community. ("City of Miami Annual Budget," 2012)
The Miami Dade Police Department
The Miami Dade Police Department receives their funding from tax revenues that are collected by the city and grants that are provided from the state or federal governments. In this process, the department will list the costs of services that they are providing and how it is changing. This is designed to show administrators the underlying expenditures in providing these services to the community. In the future, this helps lawmakers to determine what programs are addressing the needs of the citizens. ("FY 2011-2012 Budget," 2011)
On each level of government, are similar processes that are used to deliver various services to the public. In some situations, a particular level will be directly involved in these objectives through different agencies. However, there are also times that funding will be provided to the state or local government. This is designed to ensure that the needs of a specific region are addressed on the local level by directly providing entities with the money. This is when administrators can use this to address the needs of citizens.
Identify the differences and similarities of each budget.
The differences in each budget are: in the areas of focus, the total amounts of money involved and how the money is disbursed. As far as the areas of focus are concerned, this is when there is an emphasis on addressing specific needs at a certain level. For example, the federal government wants to improve Homeland Security in various air / seaports and border crossings. While the states, are concerned about issues within their borders and how this is impacting them. Further down, is when various communities will deal with specific issues that are impacting their city. These elements are important, in showing how there is an emphasis on addressing these challenges by providing different services based on specific objectives.
The way that the process is similar, is all of the various levels of governments are working off of a system that is interconnected with each other. This means that if there are difficulties inside a higher level of government. There will be a decrease in the funding for specific programs. For example, suppose that the State of Florida is facing financial challenges. This will have an effect on funding levels for the Miami Dade Police Department. The same thing applies if there are issues on the federal level in relation to the state and the city. Moreover, all of the various governments have the same kind of accounting provisions in place. These elements are important, in showing how the budgetary process is similar for all of the different levels.
What accounts for the major sources of revenue for each?
The U.S. Government
The major sources of revenues for the federal government include: individual / corporate income taxes, social insurance / retirement receipts and excise taxes. The below table is highlighting the total amounts of revenues for the U.S. Government between 2007 and 2011
Revenues for the U.S. Government from 2007 to 2011
Year
Individual Income Tax
Corporate Income Tax
Social Insurance and Retirement Receipts
Excise Taxes
2007
$1.16 trillion
$370.24 billion
$869.60 billion
$65.06 billion
2008
$1.145 trillion
$304.46 billion
$900.15 billion
$1.34 trillion
2009
$915.30 billion
$138.29 billion
$890.91 billion
$62.43 billion
2010
$858.54 billion
$191.43 billion
$864.81 billion
$66.90 billion
2011
$1.09 trillion
$181.08 billion
$818.79 billion
$72.28 billion
("Fiscal Year 2013 Budget," 2012) ("Fiscal Year 2013 Historical Tables," 2012)
These figures are showing how the primary sources of revenues for the federal government have become volatile during the last several years.
The State of Florida
The State of Florida is receiving their funds from several different sources to include: general revenues (income / sales taxes), lottery receipts, the tobacco settlement and other areas (i.e. grants / funding from the federal government). The below table is illustrating the overall amounts of revenues for 2010 and 2011.
Revenues for the State of Florida from 2010 to 2011
Year
Revenues
Lottery Receipts
Tobacco Settlement
Other Areas
2010
$30.61 billion
$1.09 billion
$370.60 million
$23.16 billion
2011
$30.12 billion
$1.02 billion
$370.60 million
$21.82 billion
("Governors 2012 Budget," 2012)
These figures are showing how the State of Florida has been realizing declining revenues over the last two years.
The City of Miami
The various sources of revenues for the City of Miami include: property taxes, franchise fees, interest, fines, intergovernmental revenues, licenses / permits and charges for services. The below table is illustrating the income between 2010 and 2011.
Revenues for the City of Miami from 2010 to 2011
Year
Property Taxes
Franchise Fees
Interest
Fines
Intergovernmental Revenues
Licenses / Permits
Charges for Services
2010
$252.53 million
$105.70 million
$1.50 million
$5.0 million
$88.75 million
$30.79 million
$86.20 million
2011
$242.26 million
$96.20 million
$1.52 million
$14.13 million
$80.96 million
$36.17 million
$92.91 million
("City of Miami Annual Budget," 2012)
These numbers are illustrating how the City of Miami has been realizing declining revenues over the last two years.
The Miami Dade Police Department
The Miami Dade Police Department has a number revenue sources. The most notable include: contract services, the general funds, grants, surcharges and fees. The below table is illustrating… READ MORE
Quoted Instructions for "Public Budgeting" Assignment:
This activity will require you to access at least a portion of the federal budget as well as a state, local and an agency budget.This paper should address the breadth, depth, and application of revenue estimation and various formats of budgets used in public budgeting. It must be at least 15 pages in length.
1. Include a basic description of each budget.
2. Identify the differences and similarities of each budget.
3. What accounts for the major sources of revenue for each?
4. How are the revenue amounts expected to change in the future?
5. How does the budget fit with the mission of each domain?
6. How can the budget be improved and revenue estimation be accurately accessed at each level?
How to Reference "Public Budgeting" A-Level Coursework in a Bibliography
“Public Budgeting.” A1-TermPaper.com, 2012, https://www.a1-termpaper.com/topics/essay/public-budgeting-last/15222. Accessed 29 Jun 2024.
Related A-Level Courseworks:
Public Budgeting Discussion Chapter
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Public Budgeting
Whether it is known or not, public or governmental budgeting is different from non-governmental budgeting. Public budgeting is more concerned with the sustainability of programs whereas as private… read more
Discussion Chapter 2 pages (633 words) Sources: 3 Topic: Economics / Finance / Banking
Public Budgeting and Finance Essay
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Public Budgeting
With the talk of the looming fiscal cliff, it is important to understand what this is for the federal budget, how it works and what the legal antecedents… read more
Essay 3 pages (860 words) Sources: 3 Topic: Economics / Finance / Banking
Public Budgeting Essay
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Public Budgeting
There have been a number of proposals put forth to deal with the different issues in the federal budget. As one of the largest components of the federal… read more
Essay 3 pages (828 words) Sources: 3 Topic: Economics / Finance / Banking
Public Budgeting and Finance Term Paper
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Public Budgeting
The idea of a sales tax has circulated as a means of addressing the budget deficit. A national sales tax exists in many developed nations around the world… read more
Term Paper 3 pages (918 words) Sources: 3 Topic: Economics / Finance / Banking
Public Budgeting Public Schools Are Financed Essay
![Paper Icon](https://www.a1-termpaper.com/images/term-paper-3.png)
Public Budgeting
Public schools are financed by a number of means. Property taxes are one source of funding. Often, to comply with the 14th Amendment, states must ensure that there… read more
Essay 3 pages (922 words) Sources: 3 Topic: Economics / Finance / Banking
Sat, Jun 29, 2024
If you don't see the paper you need, we will write it for you!
We can write a new, 100% unique paper!