Budgetary Cycle in Malaysia

Budget preparation is a process with designated groups and individuals having defined responsibilities. According to Irene S. Rubin “ The public budget process mediates between organizations and individuals who want different things and determines who gets what out of the budget.”1The Government set up an annual budget that includes people perspectives, opinions , accountability and than determine how the budget will get divided based on protected interests. Moreover, Public budgeting determines how government spend money, provide necessary resources , and limit government expenditures to prevent overspending.

15. What are your thoughts of the importance of understanding the per patient day (PPD)

A budget requires an organized layout that categorizes revenues and expenditures within particular funds to account for operations, administration, student services, salaries, benefits, transportation, and curriculum development, to name a few. The four funds for budgeting are the General Fund (10), Special Revenue Fund (20), Capital Fund (30), and the Debt Service Fund (40). Categorizing items into funds facilitates the budgetary process by grouping revenues and expenditures to compare expenses and make adjustments to meet educational goals as needed.

Customers come to this restaurant because of the good Italian food at a low price – you can get a meal for $7, including drinks. Customers also eat at Papa Geo’s due to the cleanliness of the facility, the speed of getting their seat and food, and the vending machines which keep the children busy while adults enjoy their meal.

The budget process for each year begins by examining how much was spent each month. For each month, a budget is created for the following year. Staff members at the unit level impact the budget with supply usage.

The second phase of the process starts in November through to January referred to as The Executive Budget. In accordance to the preliminary commendations and the most up-to-date economic atmosphere, the Governor along with his staff then prepares the actual executive budget and by the closure of January, the executive budget is released to the next phase (New York State Government, n.d.). The budget proposed by the Governor at this stage must be financially balanced. The budgetary terms confirming the proposed budget are very indirect requiring the Governor to classify all the expenditures he anticipated to be realized prior to the end of the subsequent fiscal year.

\Governments undertake budgeting as one of the crucial activities with a budget comprising of a plan regarding financial operations that comprise of estimated revenues for financing estimated expenditures within a given period (Florida Finance Officers Association, 2011). Effective budget processes require involvement of all stakeholders so as to enhance in arriving at a budget that is well planned as well as communicated to the respective stakeholders.

The discussion in relation to policy and policy implementation is one that revolves around a major primary issue that is known as legislation. In other words, policies are basically pieces of legislation that are enforced and put into place through an effective process of implementation. At this juncture, it is critical to note that the process of law enforcement is one that also comes with its own costs that need to be met by the same government that fosters the implementation of the same. Certain enforcement processes would require the hiring of new workers in order to effectively meet the desired objectives of the legislation (Beadle, 2013). Besides, there are other enforcement processes that would require compensation of the state and local

The Michigan Budget Process is an annual financial plan encompassing estimated revenues and expenditures proposed by the Governor and presented to Legislature for consideration and consensus. The State Budget Office begins the process by developing guidelines estimating revenue changes, federal funds, and other budget allowances. Each department makes requests, and submits the proposals back to the State Budget Office to be suggested to the governor. It is then when the governor is legally required to submit an Executive Budget within a set time constraint depending on office inauguration. The Legislature presents appropriation bills that are examined by committees, introduced to both houses where deliberation and modification occurs. Once the Legislature agrees on the bills, the governor then has the opportunity to approve or veto (Longest, 2010).

After approval, expenditures for each department and fund are controlled, but can fluctuate with approval from the Budget Office. Each department creates their own budget resulting in little need for changes. The departmental expenditures are mostly organized by line-item budgeting, showing multiples years of spending, percentage changes, and listed expenditures by departmental division. The format of the budget increases transparency of the

Citizens of the United States are legally required to pay taxes and follow the laws of their government. Thus far, with only having four weeks of interning at the House of Representatives, I have learned a lot about governmental accounting and politics. For example, one of the biggest complaints of American people is their increasing tax rates. Every year, the government has the responsibility of negotiating and preparing a budget for the upcoming years based primarily on taxpayer dollars. There is a long process that goes into creating a budget and allocating appropriations. But what happens when a major event occurs that cannot be appropriated ahead of time? This research paper will explore the budget process and how taxpayer dollars contribute, how appropriations are made, and what happens to the budget when the nation experiences an unexpected natural disaster or terrorist attack.

Historically, incrementalism has characterized public budgeting because at its core, budgeting has evolved: increased and decreased through gradual stages within the realm of the political arena. The need for this one step at a time type of response, found within incremental budgeting, would have likely been caused by the known fact that prior to the 1900’s public welfare programs, federal, states, and even city spending did not exist in the way in which is more than obviously observable in today’s society simply because America did not employ an actual budgetary system. Therefore, as with any unchartered territory, it was approached in stages, with caution, a little at a time in response to the growing needs of the public. Aaron Wildavsky made this case in his book “The politics of the budgetary process,” when he pointed out “budgeting is incremental, not comprehensive. The beginning of wisdom about an agency budget is that it is almost never actively reviewed as a whole every year in the sense of reconsidering the value of all existing programs as compared to all alternatives. Instead, it is based on last year’s budget with special attention given to a narrow range of increases or decreases.” (Wildavsky 1964, p. 15)

The budgeting system allows the managers of each department monitor their expenses in which budgets have been set for materials, salaries and legal expenses amongst others.

This project seeks to bring out the budgeting and budgetary control practices of UT financial institution, Koforidua, and how they can make sure their budgeting practices are done in such a way as to incur minimal or less cost for the organization

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.