POLS 2250 Quiz: Post Midterm Chapter Notes
13 Feb 2017
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Motivation & structure: private business: money, government: power. Money a major force in keeping government going, without it, there would be no functioning government. Budgeting carries out two activities: generating public revenue, allocating these revenues in government. Budgeting is the (cid:862)(cid:395)uintessential act of gove(cid:396)ning(cid:863) Government budget must address 3 specific objectives: setting of macroeconomic policy (part influenced by fiscal instruments) Influencing behaviour at a more micro level (ie. taxes to influence the behaviour of citizens, tax on booze, rebates on renovations: raising revenue. Requests to their respective legislatures to impose new taxes or modify existing ones. Revenue projections and descriptions of current revenue sources/method. Fiscal year: begins april 1st march 31st of the following year. Line-item budgeting: covers the entire budget of one department and how the request funds will be spent by object of expenditure, re(cid:448)ie(cid:449)s the pre(cid:448)ious year"s budget a(cid:374)d (cid:373)akes re(cid:448)isio(cid:374)s.
