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Finance and the Administration of Public Funds PP520-01

Finance and the Administration of Public Funds PP520-01. Instructor: Trebor Negron Unit 3 Seminar 6/3/12 9:00 – 10:00 PM, EST. The Key Elements of Public Finance Administration.

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Finance and the Administration of Public Funds PP520-01

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  1. Finance and the Administration of Public FundsPP520-01 Instructor: Trebor Negron Unit 3 Seminar 6/3/12 9:00 – 10:00 PM, EST

  2. The Key Elements of Public Finance Administration • The key elements necessary to understand and practice public finance administration include a basic comprehension of public organizations and how they function, an understanding of major finance concepts, and a detailed knowledge of particular techniques.

  3. Public organizations • Legal constraints • Political circumstances • Public goods • Financial concepts • Particular techniques

  4. Bases of Public Finance Administration • Laws provide requirements, authorizations, and prohibitions. • Political circumstances provide general (and on occasion very specific guidance, often through the budgetary process. • Techniques, though they are very basic and available to all public officials, may or may not be used in a given situation.

  5. Organizational Arrangements • Established by constitutions, laws, and other policies • Division of responsibilities among public officials generally includes • Overall financial guidance from policymakers • One or more specialized finance offices or agencies • Responsibilities allocated to operating agencies

  6. Budgeting vs. Finance Administration • Public budgeting is the process of making decisions about public revenues and expenditures. • Public finance administration concerns the techniques used in dealing with public monies.

  7. Public Budgeting • Defined as the planned acquisition and use of resources by public entities, similar to what individuals and households do when making and spending money. • The simply definition obscures the numerous highly complicated and interrelated phenomena that constitute public budgeting.

  8. Public Budgeting Process • Preparation or formulation • Submission and approval, policy making, legal enactment, or formal approval • Implementation or execution • Audit and review, audit, audit and evaluation, or review

  9. Public Budgeting Stages and Public Finance Administration Techniques

  10. Public Revenues • Revenue Measure • Tax • Base • Base Measurement • Exemption • Deduction • Rate • Revenue Liability • Credit

  11. Questions/Concerns?

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