Fiscal Administration Analysis and Applications for the Public Sector

ISBN-10: 0495007404

ISBN-13: 9780495007401

Edition: 7th 2007 (Revised)

Authors: John L. Mikesell

List price: $370.95
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Description:

FISCAL ADMINISTRATION is based on two principles: that students must clearly understand the details of where the money for public budgets comes from; and that, to learn public finance and budgeting, students must "run the numbers." John L. Mikesell--an authority on the revenue side of public finance--focuses on his area of specialty, giving students detailed instruction that will equip them to deal with the complex issues and calculations they will encounter in the field. In most chapters, Mikesell includes questions and exercises that require calculations to get specific answers, as well as "Cases for Discussion" and "Sidebars" that supplement the regular text with more in-depth treatment of key topics. This edition also includes the most recent federal budget information, as well as the latest federal government fiscal data.
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Book details

List price: $370.95
Edition: 7th
Copyright year: 2007
Publisher: Wadsworth
Publication date: 5/16/2006
Binding: Hardcover
Pages: 704
Size: 8.00" wide x 9.50" long x 1.25" tall
Weight: 3.036
Language: English

About the Author
Preface
Fundamental Principles of Public Finance
Market Failure and the Functions of Government
Public Goods
Externalities
Failure of Competition
Privatization
Building Social Decisions from Private Preferences
Politics, Representation, and Government Finance
The Layers of Government
Conclusion
Questions and Exercises
Case for Discussion
Market Interplay, Municipal Utilities, and a Common-Pool Resource
Budgeting, Budget Structures, and Budget Reform
The Logic of the Budget Process
The Size and Growth of Government Expenditure
Budget Process and Logic
The Parts of the Public Expenditure/Public Revenue Process
A Budget's Traditional Look: The Object-of-Expenditure (or Input) Format
Functions of the Budget Process
The Budget Cycle
Executive Preparation
Legislative Consideration
Execution
Audit and Evaluation
Governmental Accounting and Financial Reporting
Budgets and Political Strategies
The Incrementalist Insight
Roles, Visions, and Incentives
Strategies
Conclusion
Questions and Exercises
Cases for Discussion
Developing and Using Budget Strategy: The Earth Resources Technology Satellite (ERTS)
Strategies in Defense of the Defense Budget
Budget Structures and Institutions: Federal and State-Local
The Federal Budget
Spending by the Federal Government
The Federal Budget Process
Fighting Federal Deficits
Federal Fiscal Policy
State and Local Budgets
Spending by State and Local Governments
Conclusion
Questions and Exercises
Case for Discussion
Federal Earmarks and the Battle against Pork
An Illustrative State Budget Process: Texas
Participatory Budgeting
Budget Methods and Practices
Preparation of Agency Budget Requests
Budget Justification
Elements of Cost Estimation
Review of Budgets
The Executive Budget: The Plan and the Balancing
Phantom Balance and Deficit Reduction
Managing Budget Execution
Internal Controls
Audit and Evaluation
Conclusion
Questions and Exercises
Cases for Discussion
Green Felt-Tip Pens, a Tape Recorder, and Embezzlement: Where Did the Budget Process Fail?
Balancing the Chicago Public School Budget
Budget Preparation, or How to Be a Budget Analyst
Budget Classifications and Reform
Alternative Budget Classifications and the Provision of Government Services
Traditional Budgets: A Flawed Tool for Decision-making (But Pretty Good for Control and Accountability)
Performance Budgets
Program Budgets
An Illustration of an Expenditure in Alternative Classifications
New Performance Budgeting: Focusing on Results/Outcomes
Some Challenges for New Performance Budgeting
Federal Integration of Performance and Budgeting: Budget and Performance Integration Initiative and the Program Assessment Rating Tool
Conclusion
Questions and Exercises
Cases for Discussion
Following Departmental Lines (and Scores?)
A View of Zero-Based Budgeting
Functional Categories of the Federal Budget
COFOG
Capital Budgeting, Public Infrastructure Investment, and Project Evaluation
Why Have a Capital Budget?
A Capital Budgeting Process
Problems in Capital Budgeting
Accounting for Time: Discounting and Compounding
Cost-Benefit Analysis
Elements in Cost-Benefit Analysis
Selecting a Discount Rate
Decision Criteria
Some Special Problems of Cost-Benefit Analysis
Conclusion
Questions and Exercises
Case for Discussion
What Does Cost Mean?
Revenue Sources, Structure, and Administration
Taxation: Criteria for Evaluating Revenue Options
Taxation in the United States: A Short Overview of the Systems
Standards for Tax Policy
Equity
Adequacy of Revenue Production
Collectability
Economic Effects
State and Local Taxes and Economic Development
Transparency
Taxes and Externalities
Conclusion
Questions and Exercises
Case for Discussion
Politics and the Protection of Tax Advantages
Major Tax Structures: Income Taxes
Some Background
The Argument about Taxing Income
For the System of Taxing Income
Against the System of Taxing Income
Individual Income Taxation
Defining Income
Adjusted Gross Income
Personal Deductions
Personal Exemptions
Taxable Income
Tax Rates
Credits
Effective Tax Rates
Indexation
Tax Computation
Corporate Income Taxation
Dividing the Base
Integration with the Individual Tax
International Harmonization
Payroll Taxation
Conclusion
Questions and Exercises
Case for Discussion
Tax Credits and Government Policy
Major Tax Structures: Taxes on Goods and Services
The Equity Question
Selective Excise Taxation
Luxury Excises
Sumptuary Excises
Benefit-Base Excises
Regulatory and Environmental Excises
Other Excises
General Taxes on Goods and Services: Retail Sales and Value-Added Taxes
Retail Sales Taxes
Exclusion of Producers' Goods
Taxation of Services
Commodity Exemptions
Variation in the State Sales Taxes
The Sales Taxes and Internet Commerce: Remote Vendors and Use Taxes
Value-Added Taxes
Value-Added Tax Features
Value-Added Tax versus Retail Sales Tax
Conclusion
Questions and Exercises
Cases for Discussion
Sales Tax and Used Cars
Girl Scout Cookies and the Snack Tax
Major Tax Structures: Property Taxes
Good Tax, Bad Tax?
The Arithmetic of Rates, Levies, and Assessed Value
Doing Assessments: Standards
Doing Assessments: Cycles
Doing Assessments: Approaches
Doing Assessments: Managing Parcel Data
Property Tax Relief Mechanisms
Exemptions and Abatements
Circuit-Breakers
Deferrals
Classification
Tax Increment Financing
Fractional Assessment and Assessment Disparity
Limits and Controls
Conclusion
Questions and Exercises
Cases for Discussion
Use-Value Assessment for Farmland: Some Operational Questions
Finding Revenue in Reassessment
Property Taxes and a World-Class House
The Property Tax versus Habitat for Humanity
Revenue from User Fees, User Charges, and Sales by Public Monopolies
User Fees and Licenses
User Charges
Advantages of User Charges
Limitations of User Charges
Charge Guidelines
Public Monopoly Revenue: Utilities, Liquor Stores, and Gambling Enterprises
Government Utilities
Liquor Stores
Government Gambling Enterprises: Lotteries and Offtrack Betting
Conclusion
Questions and Exercises
Cases for Discussion
Entrepreneurial Revenues in State Parks
User Charges for Social Purposes: London Congestion Charge
Collecting Taxes
Why Do People and Businesses Pay the Tax They Owe?
Taxpayer Active or Taxpayer Passive?
The Core Functions of Tax Collection
Taxpayer Registration/Service
Declaration of Assessment
Revenue and Taxpayer Accounting
Delinquency Control, Compliance, and Collections
Audit
Appeal or Protest
Enforcement
Total Collection Cost
Conclusion
Questions and Exercises
Case for Discussion
The Kursk Tax Inspector
Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets
Revenue Forecast (or Baseline)
General Guides for Revenue Forecasts
Alternative Methods for Forecasting
Univariate Projections and Extrapolations
Deterministic Modeling
Multiple Regression
Econometric Models
Microdata Models
Choosing the Method
Forecasts for the Long Term
Wrong Forecasts
Revenue Estimating
Tax Expenditure Budgets
Conclusion
Questions and Exercises
The State of Minnesota Tax Expenditure Budget: Criteria and Measurement
Intergovernmental Fiscal Relations: Diversity and Coordination
Correspondence and Subsidiarity
What about Economic Advantage from Bigness?
Fiscal Disparity
Coordination and Assistance: Tax Systems
Coordination and Assistance: Grants
Categorical Grants
Block Grants
Revenue Sharing (General-Purpose Fiscal Assistance)
States and School Aid
Coordination and Assistance: Mandates
Conclusion
Questions and Exercises
Cases for Discussion
It Worked Once, But Would It Work Again?
Correspondence, Subsidiarity, and the Tenn-Tom Waterway
Administering Debt, Working Capital, and Pension Funds
Debt Administration
Federal Debt
State and Local Government (Municipal) Debt
Municipal Bonds and the Tax Reform Act of 1986
Appropriate Debt Policy
The Mechanics of Bond Values
Debt Structure and Design
Ratings
Credit Enhancements
Underwriting, Interest Rates, and Ownership
Lease-Purchase Finance and Certificates of Participation
Conclusion
Questions and Exercises
General Principles of State Debt Management
Managing Funds: Cash Management and Employee Retirement Funds
The Cash Budget and Cash Management
Elements of Cash Management
Accelerating Collections
Controlling Disbursements
Consolidating Balances
Investing Idle Funds
Treasury Bills
Other Federal-Agency Issues
Negotiable Certificates of Deposit
Commercial Paper
Repurchase Agreements and Reverse Repurchase Agreements
State and Local Debt
State Investment Pools
Money-Market Mutual Funds
Keeping Score (Measuring Performance)
Managing Public Employee Retirement Funds
Critical Issues in Public Employee Retirement Fund Management
Conclusion
Questions and Exercises
Cases for Discussion
Managing Cash for the Sheriff's Interest?
The Underfunded West Virginia Public Employees' Pension Fund
Some Websites for Fiscal Administration Data and Information
Glossary
Selected Bibliography
Index
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