Assessment of the Budget Cycle

b’Subject: Finance’
b’Topic: student reply’
b”Reneshi Dixon \nAssessment of the Budget Cycle\nCOLLAPSE\nAssessment of the Value of the Budget Cycle \n\n Every year, government agencies throughout the United States present budget proposals for the upcoming fiscal year. \xe2\x80\x9cBudgets perform the same functions for choice making, management, and control for governments, business, and nonprofit organizations\xe2\x80\x9d. (Mikesell, 2018, p. 154) Budgets can only be submitted after agency personnel have completed the task of making an estimation of the expenditures that they believe will occur in the upcoming fiscal year. These expenditures are typically estimated by looking at an overall average of where the agency has spent money in the past, as well as an estimation of where money may be spent in the future based on the current economic climate. For most agencies, having a budget is essential because the budget dictates where money will go. Without a well-planned and well-thought of budget, funds received may be misappropriated, mishandled, or misused. In some cases, the money that agencies receive from the federal government for a fiscal year must be used during that fiscal year or returned. It is important to understand that \n\n \n\n Current understanding of public budgeting recognizes the confusing and complex nature of process and outcome (see, for example, Rubin 1993; Kiel and Elliot 1992). Process involves budget development and the interaction of numerous players, often with competing values, experiences, and allegiances. Outcomes reflect policy execution as supported by appropriations. Interest in both facets of budgeting remains high because of continued fiscal stress at all levels, institutional fragmentation, and citizen skepticism about the ability of government to handle budget and policy matters responsibly (consider the 1996 budget impasse at the national level. (Rubin, 2015 p.192) \n\n \n\n\xe2\x80\x9cThe federal budget cycle involves operations by both the executive and the legislative branches of government. Spending cannot occur without the approval of both branches, and the budget cycle involves the movement of work between the branches of government.\xe2\x80\x9d (Mikesell, 2018, p. 170) The executive branch starts to develop a plan for the upcoming fiscal years budget about eighteen months before the start of the fiscal year. \xe2\x80\x9cThe president establishes general budget and fiscal policy guidelines, and the OMB works with federal agencies to translate them into agency programs and budget requests.\xe2\x80\x9d (Mikesell, 2018, p. 170) The Federal Budget Cycle is very fluid and moves systematically from one phase to the next. There are finite deadlines and dates for each part of the Federal Budget Cycle and agencies are advised early in the year by OMB regarding the deadlines and how budget information should be submitted for review. After the President reviews the budget proposals and signs off on them, the proposed budget then heads over to Congress for approval. If Congress approves, the budget is then posted on the OMB website for public viewing. \n\nAssessment of the Value of Budgetary Planning Techniques \n\n Governments use budgetary planning techniques to help them assess how to make the most use with the resources that they have; their citizens taxes. Although governments create budgets for their anticipated expenditures, they are still held to a high standard of responsibly spending taxpayers money. \xe2\x80\x9cBudget processes can help governments allocate public resources, control agency operations, manage service delivery, and communicate intentions and accomplishments to the public. Budgets can be clear statements of plans, priorities, performance, and costs, as well as the basic template for administrative control.\xe2\x80\x9d (Mikesell, 2018 p.258) There are several ways in which governments plan for a budget. One way is to utilize a technique where agency performance information is put together with agency spending. \xe2\x80\x9cThe principal idea behind performance budgets, both traditional format discussed here and a newer format discussed later in the chapter, is that putting performance information alongside budget numbers will improve public decisions and will keep agencies focused on productive use of funds.\xe2\x80\x9d (Mikesell, 2018, p.268) Each budget planning technique has its pros and its cons. However, the common goal is the end result of creating a budget that accurately reflects where money is allocated to be spent within the fiscal year. \n\n In order for governments to become more efficient with the creation of budgets, various branches of governments must learn to act in a more cohesive manner. On occasion there are budgetary issues and delays because one branch doesn\xe2\x80\x99t agree with the proposed budget of the other. If situations such as this are to be prevented in the future, then the various branches must communicate beforehand regarding what each branch views as the most pressing issues within government that deserve or warrant a certain amount from the budget. This way, each branch can set the expectation prior to budgetary talks beginning.\n\n\n\n\nReferences\n\n \n\nMikesell, J.L. (2018). Fiscal administration: Analysis and applications for the public sector. 10th Edition. Boston, MA: Cengage Learning. \n\n \n\nRubin, I. (2015). Public Budgeting: Policy, Process, and Politics. New York, NY: Routledge.\n\nWriter please reply to this student’s papnyzer with agree or disagree.”

 

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