Fiscal Administration Analysis and Applications for the Public Sector

Name: Fiscal Administration Analysis and Applications for the Public Sector
Price: 7.75 USD
Availability: InStock
ISBN: 9780155058552

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…

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 Author	p. iii
Preface	p. iv
Fundamental Principles of Public Finance	p. 1
Market Failure and the Functions of Government	p. 2
Public Goods	p. 3
Externalities	p. 7
Failure of Competition	p. 8
Privatization	p. 10
Building Social Decisions from Private Preferences	p. 14
Politics, Representation, and Government Finance	p. 18
The Layers of Government	p. 20
Conclusion	p. 23
Questions and Exercises	p. 24
Case for Discussion	p. 25
Market Interplay, Municipal Utilities, and a Common-Pool Resource	p. 25
Budgeting, Budget Structures, and Budget Reform	p. 27
The Logic of the Budget Process	p. 29
The Size and Growth of Government Expenditure	p. 30
Budget Process and Logic	p. 36
The Parts of the Public Expenditure/Public Revenue Process	p. 38
A Budget's Traditional Look: The Object-of-Expenditure (or Input) Format	p. 40
Functions of the Budget Process	p. 44
The Budget Cycle	p. 46
Executive Preparation	p. 47
Legislative Consideration	p. 49
Execution	p. 50
Audit and Evaluation	p. 52
Governmental Accounting and Financial Reporting	p. 55
Budgets and Political Strategies	p. 59
The Incrementalist Insight	p. 59
Roles, Visions, and Incentives	p. 60
Strategies	p. 62
Conclusion	p. 67
Questions and Exercises	p. 67
Cases for Discussion	p. 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 Budget	p. 74
Budget Structures and Institutions: Federal and State-Local	p. 79
The Federal Budget	p. 79
Spending by the Federal Government	p. 80
The Federal Budget Process	p. 82
State and Local Budgets	p. 118
Spending by State and Local Governments	p. 120
Conclusion	p. 128
Questions and Exercises	p. 129
Budget Methods and Practices	p. 130
Preparation of Agency Budget Requests	p. 130
Budget Justification	p. 131
Elements of Cost Estimation	p. 134
Personnel Costs: Paying the Staff	p. 134
Nonpersonnel Costs	p. 136
Screening for Errors	p. 137
Review of Budgets	p. 140
The Executive Budget: The Plan and the Balacing	p. 143
Phantom Balance and Deficit Reduction	p. 145
Managing Budget Execution	p. 150
Internal Controls	p. 154
An Intra-Year Cash Budget	p. 155
Audit and Evaluation	p. 156
Conclusion	p. 159
Questions and Exercises	p. 159
Cases for Discussion	p. 166
Green Felt-Tip Pens, a Tape Recorder, and Embezzlement: Where Did the Budget Process Fail?	p. 166
Balancing the Chicago Public School Budget	p. 169
Budget Preparation, or How to Be a Budget Analyst	p. 170
Budget Classifications and Reform	p. 182
Alternative Budget Classifications and the Provision of Government Services	p. 183
Traditional Budgets: A Flawed Tool for Decision Making	p. 186
Performance Budgets	p. 191
Program Budgets	p. 194
An Illustration of an Expenditure in Alternative Classifications	p. 202
A Different Budget Logic: Zero-Based Budgets	p. 203
Restructuring the Logic of Governments: New Performance Budgeting	p. 206
Some Caveats about New Performance Budgeting	p. 214
Conclusion	p. 217
Questions and Exercises	p. 218
Cases for Discussion	p. 223
Following Departmental Lines (and Scores?)	p. 223
A View of Zero-Based Budgeting	p. 224
Functional Categories of the Federal Budget	p. 227
COFOG	p. 229
Capital Budgeting, Public Infrastructure Investment, and Project Evaluation	p. 231
Why Have a Capital Budget?	p. 233
A Capital Budgeting Process	p. 237
Problems in Capital Budgeting	p. 243
Accounting for Time: Discounting and Compounding	p. 245
Cost-Benefit Analysis	p. 251
Elements in Cost-Benefit Analysis	p. 253
Selecting a Discount Rate	p. 259
Decision Criteria	p. 262
Some Special Problems of Cost-Benefit Analysis	p. 264
Conclusion	p. 268
Questions and Exercises	p. 268
Case for Discussion	p. 274
What Does Cost Mean?	p. 274
Revenue Sources, Structure, and Administration	p. 277
Taxation: Criteria for Evaluating Revenue Options	p. 279
Taxation in the United States: A Short Overview of the Systems	p. 280
Standards for Tax Policy	p. 286
Equity	p. 287
Adequacy of Revenue Production	p. 297
Collectability	p. 301
Economic Effects	p. 302
State and Local Taxes and Economic Development	p. 305
Transparency	p. 306
Taxes and Externalities	p. 308
Conclusion	p. 310
Questions and Exercises	p. 311
Case for Discussion	p. 312
Politics and the Protection of Tax Advantages	p. 312
Major Tax Structures: Income Taxes	p. 318
Some Background	p. 319
The Argument about Taxing Income	p. 322
For the System of Taxing Income	p. 322
Against the System of Taxing Income	p. 323
Individual Income Taxation	p. 325
Defining Income	p. 325
Adjusted Gross Income	p. 327
Personal Deductions	p. 330
Personal Exemptions	p. 332
Taxable Income	p. 334
Tax Rates	p. 335
Credits	p. 339
Effective Tax Rates	p. 339
Indexation	p. 341
Tax Computation	p. 342
Corporate Income Taxation	p. 343
Payroll Taxation	p. 347
Conclusion	p. 349
Questions and Exercises	p. 349
Tax Structures: Taxes on Goods and Services	p. 353
Selective Excise Taxation	p. 358
Luxury Excises	p. 359
Sumptuary Excises	p. 360
Benefit-Base Excises	p. 361
Regulatory and Environmental Excises	p. 362
Other Excises	p. 363
General Taxes on Goods and Services: Retail Sales and Value-Added Taxes	p. 363
Retail Sales Taxes	p. 366
Exclusion of Producers' Goods	p. 368
Taxation of Services	p. 371
Commodity Exemptions	p. 371
Remote Vendors and Use Taxes	p. 373
Value-Added Taxes	p. 375
VAT Features	p. 377
VAT versus RST	p. 380
Conclusion	p. 381
Questions and Exercises	p. 382
Cases for Discussion	p. 383
Sales Tax and Used Cars	p. 383
Girl Scout Cookies and the Snack Tax	p. 387
Major Tax Structures: Property Taxes	p. 390
The Arithmetic of Rates, Levies, and Assessed Value	p. 393
Doing Assessments: Standards	p. 395
Doing Assessment: Cycles	p. 398
Doing Assessments: Approaches	p. 400
Doing Assessments: Managing Parcel Data	p. 402
Property Tax Relief Mechanisms	p. 404
Exemptions and Abatements	p. 404
Circuit-Breakers	p. 406
Deferrals	p. 408
Classification	p. 409
Tax Increment Financing	p. 410
Fractional Assessment and Assessment Disparity	p. 411
Limits and Controls	p. 417
Conclusion	p. 419
Questions and Exercises	p. 420
Cases for Discussion	p. 425
Use-Value Assessment for Farmland: Some Operational Questions	p. 425
Finding Revenue in Reassessment	p. 427
Property Taxes and a World-Class House	p. 429
Revenue from User Fees, User Charges, and Sales by Public Monopolies	p. 430
User Fees and Licenses	p. 434
User Charges	p. 436
Advantages of User Charges	p. 438
Limitations of User Charges	p. 440
Charge Guidelines	p. 442
Public Monopoly Revenue: Utilities, Liquor Stores, and Gambling Enterprises	p. 445
Government Utilities	p. 446
Liquor Stores	p. 447
Gambling Enterprises	p. 447
Lotteries	p. 449
Conclusion	p. 452
Questions and Exercises	p. 452
Case for Discussion	p. 455
Entrepreneurial Revenues in State Parks	p. 455
Collecting Taxes	p. 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 Collection	p. 463
Taxpayer Registration/Service	p. 463
Declaration or Assessment	p. 464
Revenue and Taxpayer Accounting	p. 465
Delinquency Control, Compliance, and Collections	p. 466
Audit	p. 467
Appeal or Protest	p. 470
Enforcement	p. 471
Total Collection Cost	p. 472
Conclusion	p. 475
Questions and Exercises	p. 475
Case for Discussion	p. 476
The Kursk Tax Inspector	p. 476
Revenue Forecasts, Revenue Estimates, and Tax Expenditure Budgets	p. 480
Revenue Forecast (or Baseline)	p. 481
General Guides for Revenue Forecasts	p. 482
Alternative Methods for Forecasting	p. 484
Univariate Projections and Extrapolations	p. 484
Deterministic Modeling	p. 486
Multiple Regression	p. 486
Econometric Models	p. 488
Microdata Models	p. 489
Choosing the Method	p. 491
Forecasts for the Long Term	p. 492
Wrong Forecasts	p. 493
Revenue Estimating	p. 494
Tax Expenditure Budgets	p. 496
Conclusion	p. 501
Questions and Exercises	p. 502
The State of Minnesota Tax Expenditure Budget: Criteria and Measurement	p. 504
Intergovernmental Fiscal Relations: Diversity and Coordination	p. 508
Correspondence and Subsidiarity	p. 509
What about Economic Advantage from Bigness?	p. 511
Fiscal Disparity	p. 512
Coordination and Assistance: Tax Systems	p. 514
Coordination and Assistance: Grants	p. 519
Categorical Grants	p. 522
Block Grants	p. 526
Revenue Sharing (General-Purpose Fiscal Assistance)	p. 528
States and School Aid	p. 529
Coordination and Assistance: Mandates	p. 531
Conclusion	p. 534
Questions and Exercises	p. 535
Cases for Discussion	p. 535
It Worked Once, But Would it Work Again?	p. 535
Correspondence, Subsidiarity, and the Tenn-Tom Waterway	p. 537
Administering Debt, Working Capital, and Pension Funds	p. 541
Debt Administration	p. 543
Federal Debt	p. 544
State and Local Government (Municipal) Debt	p. 550
Municipal Bonds and the Tax Reform Act of 1986	p. 553
Appropriate Debt Policy	p. 554
The Mechanics of Bond Values	p. 556
Debt Structure and Design	p. 557
Ratings	p. 560
Credit Enhancements	p. 567
Underwriting, Interest Rates, and Ownership	p. 569
Lease-Purchase Finance and Certificates of Participation	p. 575
Conclusion	p. 577
Questions and Exercises	p. 577
A County Debt Policy Statement	p. 581
Managing Funds: Cash Management and Employee Retirement Funds	p. 584
The Cash Budget and Cash Management	p. 585
Elements of Cash Management	p. 587
Accelerating Collections	p. 589
Controlling Disbursements	p. 592
Consolidating Balances	p. 594
Investing Idle Funds	p. 595
Treasury Bills	p. 597
Other Federal-Agency Issues	p. 599
Negotiable Certificates of Deposit	p. 599
Commercial Paper	p. 600
Repurchase Agreements (Repo) and Reverse Repurchase Agreements	p. 600
State and Local Debt	p. 601
State Investment Pools	p. 601
Money-Market Mutual Funds	p. 602
Keeping Score (Measuring Performance)	p. 602
Managing Public Employee Retirement Funds	p. 603
Critical Issues in Public Employee Retirement Fund Management	p. 608
Conclusion	p. 611
Questions and Exercises	p. 611
Cases for Discussion	p. 612
Managing Cash for the Sheriff's Interest?	p. 612
The Underfunded West Virginia Public Employees' Pension Fund	p. 617
Some Websites for Fiscal Administration Data and Information	p. 622
Glossary	p. 626
Selected Bibliography	p. 640
Index	p. 649
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