Public Budget



Public budget

Introduction

The objective of this research document is to present basic concepts of budgeting, differences and similarities of each budget, the major sources of revenue for each, the revenue amounts expected to change in the future, budget fit with the mission of each domain and finally the improvement in the budget and revenue at each level

Discussion

Budget

A budget is a plan of action aimed at fulfilling a target, expressed in values and financial terms. This must be fulfilled at a certain time and under certain conditions laid down. This concept is applied to each central responsibility of the organization (Bassetto & Sargent, 2006, p. 1167).

Public Budget

Public budget is a tool for policy and governance, whereby resources and costs are allocated and through which state can fulfil the functions and meet the objectives that are outlined in the economic and social policy medium and long term plans.

Budget Classification Types

These ratings may refer to both the resources and public expenditure.

Public Resources (Revenue)

Public Resources (Revenue) are the various forms of grouping, sorting and presenting resources (income) public, with the purpose of analysis and projections of economic and financial required in a given period (Rubin, Irene, 2006, pp. 140). Their classification depends on the type of analysis or study you want to perform, but generally uses three classifications are:

According to their frequency: This contributes the income according to the frequency which is control by the Treasury department. They are classified into ordinary and extraordinary items. With the ordinary income raise from regular and permanent traditional sources that consist of taxes, fees and other means of financing the state. Revenues in which extraordinary profits are excluded not meeting these requirements (Von Hagen, Jürgen, 2000, pp. 45).

Economic: According to this classification, public revenues are classified as current, capital resources and financial sources.

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