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The budget is the central accounting document for state and local governments. Why? Consider the incentives that drive a for-profit entity -- profit! Now, consider
The budget is the central accounting document for state and local governments. Why? Consider the incentives that drive a for-profit entity -- profit! Now, consider the incentives that drive a government entity. Is there a profit motive for the entity if it funds its activities by tax dollars? Are the expectations of a for-profit stakeholder the same as that of a government stakeholder? I have attached a sample budget from the City of Cleveland for your review.
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