Public Budget Assignment Example | Topics and Well Written Essays - 1000 words

Public Budget - Assignment Example In other words, budget attempts to match the scarce funds through political processes in achieving visions of a real life. Financial management describes effective and efficient control of the projected resources to ensure achievement of the planned objectives. Below are proposed strategies for involving the public in the county financial planning process. At an increased level of involvement, the public will be advocating specific government policies by attending and sponsoring public meetings. For instance surveys, and citizen relationship management systems will be used as inputs to decision regarding the levels of services and preferences, the community priorities, and the governments performance. Traditionally, voting, public offices, being used by politicians as campaigners, and attending public hearings remain avenues of public participation in the budgeting process. In addition, keeping updated on essential issues of the day by reading government reports or local newspaper was also the way of involvement. 1. The county financial managers will be required to make investment decisions that distinguishes between the capital budgeting and working capital (Schick, 2014). Therefore, it will be important for the government to start by understanding what the citizens expect (Jones, Zalà ¡nyi & Erdi, 2014). The government should call on the public to present their views regarding projects that they need to be undertaken. Citizens participation at this point is necessary since the source of capital is taxpayers money. In this case, of unsuccessful undertakings the public will demand accountability from the government (Im et. al., 2014). 2. Decisions needs to be made regarding where to raise the financial resources from, how long will it take to finance, the cost of financing, as well as the expected returns. A well crafted public participation is of the essence. For instance, if