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Fiscal Administration Analysis and Applications for the Public Sector

by: Mikesell, John

Fiscal Administration Analysis and Applications for the Public Sector

by: Mikesell, John

ISBN 13:
9780155058552
ISBN 10:
015505855X
Edition: 6th
Format: Hardcover
Copyright: 10/03/2002
Publisher: Wadsworth Publishing
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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.

About the Author

iii

Preface

Fundamental Principles of Public Finance

(26)

Market Failure and the Functions of Government

(8)

Public Goods

(4)

Externalities

(1)

Failure of Competition

(2)

Privatization

(13)

Building Social Decisions from Private Preferences

(4)

Politics, Representation, and Government Finance

(2)

The Layers of Government

(3)

Conclusion

(1)

Questions and Exercises

(1)

Case for Discussion

(2)

Market Interplay, Municipal Utilities, and a Common-Pool Resource

(2)

PART ONE Budgeting, Budget Structures, and Budget Reform

(250)

The Logic of the Budget Process

(50)

The Size and Growth of Government Expenditure

(6)

Budget Process and Logic

(10)

The Parts of the Public Expenditure/Public Revenue Process

(2)

A Budget's Traditional Look: The Object-of-Expenditure (or Input) Format

(4)

Functions of the Budget Process

(2)

The Budget Cycle

(9)

Executive Preparation

(2)

Legislative Consideration

(1)

Execution

(2)

Audit and Evaluation

(3)

Governmental Accounting and Financial Reporting

(4)

Budgets and Political Strategies

(8)

The Incrementalist Insight

(1)

Roles, Visions, and Incentives

(2)

Strategies

(5)

Conclusion

(1)

Questions and Exercises

(2)

Cases for Discussion

(10)

What Cost Matters for Making Decisions?

(2)

Developing and Using Budget Strategy: The Earth Resources Technology Satellite (ERTS)

(3)

Strategies in Defense of the Defense Budget

(5)

Budget Structures and Institutions: Federal and State-Local

(51)

The Federal Budget

(39)

Spending by the Federal Government

(2)

The Federal Budget Process

(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

Amazon no longer offers textbook rentals. We do!

Fiscal Administration Analysis and Applications for the Public Sector

Fiscal Administration Analysis and Applications for the Public Sector

9780155058552

015505855X

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Fiscal Administration Analysis and Applications for the Public Sector

Fiscal Administration Analysis and Applications for the Public Sector

9780155058552

015505855X

Summary

Author Biography

Table of Contents

Supplemental Materials

Write a Review

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