Topic: THE ECONOMY AND BUDGETING

Read these two books:

Nice, D.C. & Fisher, P. (2016). Public Budgeting (2nd Ed.). San Diego, CA: Birkdale Publishers. ISBN: 978-1-9452456-02-5. Menifield, C.E. (2017). The Basics of Public Budgeting and Financial Management (3rd Ed.). Lanham, MD: Hamilton Books. ISBN: 978-0-7618-6975-7

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The idea is for you to make a PowerPoint presentation teaching us the content as if you were delivering a lecture in class. The presentation should be polished. Be sure to know your topic area well and take notes, find some cool visual sources etc. to make an engaging teaching session, not a class presentation.

[Slide 1: Title Slide] * Title: Understanding Public Budgeting and Financial Management Presented by: [Your Name] Date: [Date of Presentation] [Slide 2: Introduction] * Welcome to today's session on public budgeting and financial management. * Today, we will delve into the essentials of public budgeting and explore key concepts from the recommended readings by Nice & Fisher (2016) and Menifield (2017). [Slide 3: Importance of Public Budgeting] Public budgeting plays a crucial role in government operations. |t allocates resources to various programs and services, affecting citizens' lives. Efficient budgeting ensures accountability, transparency, and optimal resource utilization. [Slide 4: Key Concepts] Budget Cycle: Understanding the phases of budgeting - formulation, approval, execution, and evaluation. Revenue Sources: Exploring different revenue streams such as taxes, fees, and grants. Expenditure Categories: Categorizing expenditures into operational, capital, and debt service. * Budgeting Techniques: Learning about incremental, zero-based, and performance- based budgeting approaches. [Slide 5: Nice & Fisher (2016): Public Budgeting] Overview of the book: Focuses on the intricacies of public budgeting. Topics Covered: Budget process, revenue forecasting, expenditure analysis, and budget evaluation. Visual: Cover image of the book. [Slide 6: Menifield (2017): Basics of Public Budgeting] * Overview of the book: Emphasizes fundamental principles of public budgeting and financial management. Topics Covered: Budget development, financial reporting, fiscal policy, and budget implementation. Visual: Cover image of the book. [Slide T: Budget Formulation] * Process of crafting a budget proposal based on government priorities and available resources. Involves forecasting revenues, estimating expenditures, and aligning with strategic goals. Visual: Flowchart depicting the steps involved in budget formulation. [Slide 8: Budget Approval] Review and approval of the proposed budget by legislative bodies or governing authorities. Negotiations, amendments, and public hearings may occur during this stage. = Visual: Image of a legislative session discussing budget proposals. [Slide 9: Budget Execution] * Implementation of the approved budget through expenditure allocation and revenue collection. Monitoring spending, ensuring compliance, and adjusting as necessary. Visual: lllustration of government agencies executing budget allocations. [Slide 10: Budget Evaluation] * Assessment of budget performance against set targets and objectives. * Analyzing variances, identifying areas for improvement, and informing future budget decisions. * Visual: Graph showing budget performance metrics over time. [Slide 11: Revenue Sources] + Diverse sources of government revenue including taxes, intergovernmental transfers, and user fees. + Importance of balancing revenue generation with taxpayer burden and economic impact. Visual: Pie chart illustrating the composition of government revenue sources. [Slide 12: Expenditure Categories] Classification of expenditures into operational, capital, and debt service categories. * Operational expenses cover day-to-day activities, while capital expenses involve investments in infrastructure. Visual: Diagram showing the breakdown of government expenditures. [Slide 13: Budgeting Techniques] Incremental Budgeting: Baseline adjustments from the previous year's budget. Zero-Based Budgeting: Justifying all expenses from scratch, regardless of past allocations. Performance-Based Budgeting: Linking funding to measurable outcomes and program effectiveness. + Visual: Comparison table highlighting features of different budgeting techniques. [Slide 14: Case Studies and Examples] + Real-world examples illustrating successful budgeting practices or challenges faced by governments. * Case studies from the readings or current events provide practical insights. Visual: Infographic presenting a case study of a government budgeting success story. [Slide 15: Conclusion] Recap of key takeaways: Budget cycle stages, revenue sources, expenditure categories, and budgeting techniques. Emphasize the importance of effective public budgeting for governance and accountability. Visual: Inspirational quote related to financial management or public service. [Slide 16: Q&A] * Open the floor for questions and discussion. Encourage participants to share insights, challenges, or additional resources, [Slide 17: Thank You] e Thank participants for their participation and engagement. Provide contact information for further inquiries or follow-up discussions. [Slide 18: Additional Resources] List recommended readings, websites, or academic journals for further exploration, * Encourage continued learning and research in public budgeting and financial management