PAD-3003 Chapter Notes - Chapter All: Marble Cake, Total Quality Management, Employment
Document Summary
The executive branch, especially the us president had no formal role in federal budget decisions until the passage of the budget and accounting act of 1921, signed by warren. Provides the following financial information to congress: The amount of money the president is requesting for various federal agencies. The amount of money in taxes the federal government will collect in a fiscal year. Whether the federal government will have a deficit or surplus. Types of budgets: amount of the deficit or surplus. Executive: prepared by leaders typically within the executive branch (president, country chairman, mayor, etc. ). Legislative: prepared by a body of elected representatives. Operating: short-term, year-to-year budget that plans how resources will be allocated for public programs. Capital: long-term plan that deals with financing projects that typically include infrastructure (bridges/buildings) and quality of life projects. Personal income: percentage of an individual"s wages/salary; at most 35%. 1950-2010 this has consistently been where the government gains most of its revenue.