Fiscal Administration Analysis and Applications for the Public Sector

ISBN-10: 015505855X

ISBN-13: 9780155058552

Edition: 6th 2003 (Revised)

Authors: John L. Mikesell

List price: $151.95
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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 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: $151.95
Edition: 6th
Copyright year: 2003
Publisher: Wadsworth
Publication date: 10/3/2002
Binding: Hardcover
Pages: 672
Size: 7.75" wide x 9.50" long x 1.25" tall
Weight: 2.684
Language: English

About the Authorp. iii
Prefacep. iv
Fundamental Principles of Public Financep. 1
Market Failure and the Functions of Governmentp. 2
Public Goodsp. 3
Externalitiesp. 7
Failure of Competitionp. 8
Privatizationp. 10
Building Social Decisions from Private Preferencesp. 14
Politics, Representation, and Government Financep. 18
The Layers of Governmentp. 20
Conclusionp. 23
Questions and Exercisesp. 24
Case for Discussionp. 25
Market Interplay, Municipal Utilities, and a Common-Pool Resourcep. 25
Budgeting, Budget Structures, and Budget Reformp. 27
The Logic of the Budget Processp. 29
The Size and Growth of Government Expenditurep. 30
Budget Process and Logicp. 36
The Parts of the Public Expenditure/Public Revenue Processp. 38
A Budget's Traditional Look: The Object-of-Expenditure (or Input) Formatp. 40
Functions of the Budget Processp. 44
The Budget Cyclep. 46
Executive Preparationp. 47
Legislative Considerationp. 49
Executionp. 50
Audit and Evaluationp. 52
Governmental Accounting and Financial Reportingp. 55
Budgets and Political Strategiesp. 59
The Incrementalist Insightp. 59
Roles, Visions, and Incentivesp. 60
Strategiesp. 62
Conclusionp. 67
Questions and Exercisesp. 67
Cases for Discussionp. 69
What Cost Matters for Making Decisions?p. 69
Developing and Using Budget Strategy: The Earth Resources Technology Satellite (ERTS)p. 71
Strategies in Defense of the Defense Budgetp. 74
Budget Structures and Institutions: Federal and State-Localp. 79
The Federal Budgetp. 79
Spending by the Federal Governmentp. 80
The Federal Budget Processp. 82
State and Local Budgetsp. 118
Spending by State and Local Governmentsp. 120
Conclusionp. 128
Questions and Exercisesp. 129
Budget Methods and Practicesp. 130
Preparation of Agency Budget Requestsp. 130
Budget Justificationp. 131
Elements of Cost Estimationp. 134
Personnel Costs: Paying the Staffp. 134
Nonpersonnel Costsp. 136
Screening for Errorsp. 137
Review of Budgetsp. 140
The Executive Budget: The Plan and the Balacingp. 143
Phantom Balance and Deficit Reductionp. 145
Managing Budget Executionp. 150
Internal Controlsp. 154
An Intra-Year Cash Budgetp. 155
Audit and Evaluationp. 156
Conclusionp. 159
Questions and Exercisesp. 159
Cases for Discussionp. 166
Green Felt-Tip Pens, a Tape Recorder, and Embezzlement: Where Did the Budget Process Fail?p. 166
Balancing the Chicago Public School Budgetp. 169
Budget Preparation, or How to Be a Budget Analystp. 170
Budget Classifications and Reformp. 182
Alternative Budget Classifications and the Provision of Government Servicesp. 183
Traditional Budgets: A Flawed Tool for Decision Makingp. 186
Performance Budgetsp. 191
Program Budgetsp. 194
An Illustration of an Expenditure in Alternative Classificationsp. 202
A Different Budget Logic: Zero-Based Budgetsp. 203
Restructuring the Logic of Governments: New Performance Budgetingp. 206
Some Caveats about New Performance Budgetingp. 214
Conclusionp. 217
Questions and Exercisesp. 218
Cases for Discussionp. 223
Following Departmental Lines (and Scores?)p. 223
A View of Zero-Based Budgetingp. 224
Functional Categories of the Federal Budgetp. 227
COFOGp. 229
Capital Budgeting, Public Infrastructure Investment, and Project Evaluationp. 231
Why Have a Capital Budget?p. 233
A Capital Budgeting Processp. 237
Problems in Capital Budgetingp. 243
Accounting for Time: Discounting and Compoundingp. 245
Cost-Benefit Analysisp. 251
Elements in Cost-Benefit Analysisp. 253
Selecting a Discount Ratep. 259
Decision Criteriap. 262
Some Special Problems of Cost-Benefit Analysisp. 264
Conclusionp. 268
Questions and Exercisesp. 268
Case for Discussionp. 274
What Does Cost Mean?p. 274
Revenue Sources, Structure, and Administrationp. 277
Taxation: Criteria for Evaluating Revenue Optionsp. 279
Taxation in the United States: A Short Overview of the Systemsp. 280
Standards for Tax Policyp. 286
Equityp. 287
Adequacy of Revenue Productionp. 297
Collectabilityp. 301
Economic Effectsp. 302
State and Local Taxes and Economic Developmentp. 305
Transparencyp. 306
Taxes and Externalitiesp. 308
Conclusionp. 310
Questions and Exercisesp. 311
Case for Discussionp. 312
Politics and the Protection of Tax Advantagesp. 312
Major Tax Structures: Income Taxesp. 318
Some Backgroundp. 319
The Argument about Taxing Incomep. 322
For the System of Taxing Incomep. 322
Against the System of Taxing Incomep. 323
Individual Income Taxationp. 325
Defining Incomep. 325
Adjusted Gross Incomep. 327
Personal Deductionsp. 330
Personal Exemptionsp. 332
Taxable Incomep. 334
Tax Ratesp. 335
Creditsp. 339
Effective Tax Ratesp. 339
Indexationp. 341
Tax Computationp. 342
Corporate Income Taxationp. 343
Payroll Taxationp. 347
Conclusionp. 349
Questions and Exercisesp. 349
Tax Structures: Taxes on Goods and Servicesp. 353
Selective Excise Taxationp. 358
Luxury Excisesp. 359
Sumptuary Excisesp. 360
Benefit-Base Excisesp. 361
Regulatory and Environmental Excisesp. 362
Other Excisesp. 363
General Taxes on Goods and Services: Retail Sales and Value-Added Taxesp. 363
Retail Sales Taxesp. 366
Exclusion of Producers' Goodsp. 368
Taxation of Servicesp. 371
Commodity Exemptionsp. 371
Remote Vendors and Use Taxesp. 373
Value-Added Taxesp. 375
VAT Featuresp. 377
VAT versus RSTp. 380
Conclusionp. 381
Questions and Exercisesp. 382
Cases for Discussionp. 383
Sales Tax and Used Carsp. 383
Girl Scout Cookies and the Snack Taxp. 387
Major Tax Structures: Property Taxesp. 390
The Arithmetic of Rates, Levies, and Assessed Valuep. 393
Doing Assessments: Standardsp. 395
Doing Assessment: Cyclesp. 398
Doing Assessments: Approachesp. 400
Doing Assessments: Managing Parcel Datap. 402
Property Tax Relief Mechanismsp. 404
Exemptions and Abatementsp. 404
Circuit-Breakersp. 406
Deferralsp. 408
Classificationp. 409
Tax Increment Financingp. 410
Fractional Assessment and Assessment Disparityp. 411
Limits and Controlsp. 417
Conclusionp. 419
Questions and Exercisesp. 420
Cases for Discussionp. 425
Use-Value Assessment for Farmland: Some Operational Questionsp. 425
Finding Revenue in Reassessmentp. 427
Property Taxes and a World-Class Housep. 429
Revenue from User Fees, User Charges, and Sales by Public Monopoliesp. 430
User Fees and Licensesp. 434
User Chargesp. 436
Advantages of User Chargesp. 438
Limitations of User Chargesp. 440
Charge Guidelinesp. 442
Public Monopoly Revenue: Utilities, Liquor Stores, and Gambling Enterprisesp. 445
Government Utilitiesp. 446
Liquor Storesp. 447
Gambling Enterprisesp. 447
Lotteriesp. 449
Conclusionp. 452
Questions and Exercisesp. 452
Case for Discussionp. 455
Entrepreneurial Revenues in State Parksp. 455
Collecting Taxesp. 459
Why Do People and Businesses Pay the Tax They Owe?p. 459
Taxpayer Active or Taxpayer Passive?p. 461
The Core Functions of Tax Collectionp. 463
Taxpayer Registration/Servicep. 463
Declaration or Assessmentp. 464
Revenue and Taxpayer Accountingp. 465
Delinquency Control, Compliance, and Collectionsp. 466
Auditp. 467
Appeal or Protestp. 470
Enforcementp. 471
Total Collection Costp. 472
Conclusionp. 475
Questions and Exercisesp. 475
Case for Discussionp. 476
The Kursk Tax Inspectorp. 476
Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgetsp. 480
Revenue Forecast (or Baseline)p. 481
General Guides for Revenue Forecastsp. 482
Alternative Methods for Forecastingp. 484
Univariate Projections and Extrapolationsp. 484
Deterministic Modelingp. 486
Multiple Regressionp. 486
Econometric Modelsp. 488
Microdata Modelsp. 489
Choosing the Methodp. 491
Forecasts for the Long Termp. 492
Wrong Forecastsp. 493
Revenue Estimatingp. 494
Tax Expenditure Budgetsp. 496
Conclusionp. 501
Questions and Exercisesp. 502
The State of Minnesota Tax Expenditure Budget: Criteria and Measurementp. 504
Intergovernmental Fiscal Relations: Diversity and Coordinationp. 508
Correspondence and Subsidiarityp. 509
What about Economic Advantage from Bigness?p. 511
Fiscal Disparityp. 512
Coordination and Assistance: Tax Systemsp. 514
Coordination and Assistance: Grantsp. 519
Categorical Grantsp. 522
Block Grantsp. 526
Revenue Sharing (General-Purpose Fiscal Assistance)p. 528
States and School Aidp. 529
Coordination and Assistance: Mandatesp. 531
Conclusionp. 534
Questions and Exercisesp. 535
Cases for Discussionp. 535
It Worked Once, But Would it Work Again?p. 535
Correspondence, Subsidiarity, and the Tenn-Tom Waterwayp. 537
Administering Debt, Working Capital, and Pension Fundsp. 541
Debt Administrationp. 543
Federal Debtp. 544
State and Local Government (Municipal) Debtp. 550
Municipal Bonds and the Tax Reform Act of 1986p. 553
Appropriate Debt Policyp. 554
The Mechanics of Bond Valuesp. 556
Debt Structure and Designp. 557
Ratingsp. 560
Credit Enhancementsp. 567
Underwriting, Interest Rates, and Ownershipp. 569
Lease-Purchase Finance and Certificates of Participationp. 575
Conclusionp. 577
Questions and Exercisesp. 577
A County Debt Policy Statementp. 581
Managing Funds: Cash Management and Employee Retirement Fundsp. 584
The Cash Budget and Cash Managementp. 585
Elements of Cash Managementp. 587
Accelerating Collectionsp. 589
Controlling Disbursementsp. 592
Consolidating Balancesp. 594
Investing Idle Fundsp. 595
Treasury Billsp. 597
Other Federal-Agency Issuesp. 599
Negotiable Certificates of Depositp. 599
Commercial Paperp. 600
Repurchase Agreements (Repo) and Reverse Repurchase Agreementsp. 600
State and Local Debtp. 601
State Investment Poolsp. 601
Money-Market Mutual Fundsp. 602
Keeping Score (Measuring Performance)p. 602
Managing Public Employee Retirement Fundsp. 603
Critical Issues in Public Employee Retirement Fund Managementp. 608
Conclusionp. 611
Questions and Exercisesp. 611
Cases for Discussionp. 612
Managing Cash for the Sheriff's Interest?p. 612
The Underfunded West Virginia Public Employees' Pension Fundp. 617
Some Websites for Fiscal Administration Data and Informationp. 622
Glossaryp. 626
Selected Bibliographyp. 640
Indexp. 649
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