The Legislature’s Intervention with Budget Reform

2020 ◽  
pp. 51-58
Author(s):  
Brian Pugh
Keyword(s):  
Budget Process ◽  
Revenue Forecasting ◽  
Budget Reform ◽  
Reserve Fund

Chapter 5 discusses the legislature’s response to the budget problems that occurred at the end of the Mabus administration. The legislature grew frustrated with the unrealistic revenue forecasting used to construct the state’s budget and responded by passing the Budget Reform Act of 1992 in order to strengthen the budget process. The reform act created a proper reserve fund known as the Working Cash-Stabilization Reserve Fund (Rainy Day Fund). The act also created a revenue 2 percent set-aside requirement as a cushion.

A comparative analysis of periodicity in the Arkansas state budget process

2019 ◽  
Vol 31 (1) ◽  
pp. 66-84
Author(s):  
Kim U. Hoffman ◽  
Catherine C. Reese
Keyword(s):  
Online Survey ◽  
Executive Branch ◽  
Budget Process ◽  
Exploratory Research ◽  
State Budget ◽  
Content Type ◽  
Revenue Forecasting ◽  
Annual Budget ◽  
The Impact ◽  
Supplemental Appropriations

Purpose The purpose of this paper is to explore the impact of changes to the Arkansas budget process brought about when the people of Arkansas voted to move from a biennial to an annual budget period in 2008. The paper describes the legislative changes necessary for annual budget review and explores the impact of annual budget review on revenue forecasting, supplemental appropriations, special sessions, legislative staff workload, executive branch oversight and state spending. This research assesses legislative perceptions of annual budget review across several factors including knowledge of the state budget, ability to check the powers of the governor and overall efficacy of annual budget review. Design/methodology/approach This exploratory research uses interview data from the Legislative Fiscal Director and data from an online survey of Arkansas state legislators. The interview and survey data were supplemented by an analysis of documents produced by legislative staff regarding supplemental appropriations, special sessions and state general revenue. Findings The Legislative Fiscal Director interview indicates that the change in budget period had little impact on revenue forecasting, special sessions and state government spending, with the exception that supplemental appropriations for Big 6 agencies increased in a statistically significant way following the advent of the fiscal session. The legislative survey finds that the change in budget period is viewed positively by Arkansas legislators. Most legislators indicated that they prefer annual budget review to biennial budget review. Research limitations/implications Because of the exploratory approach, the research results may lack generalizability. Originality/value This paper surveys legislators on the efficacy of annual budget review which has seldom been done in previous research.

Budgetary Reform in Russia: the First Results and Possible Prospects

2005 ◽  
pp. 57-69 ◽  
Author(s):  
Mst. Afanasiev ◽  
I. Krivogov
Keyword(s):  
Economic Development ◽  
Performance Management ◽  
Budget Process ◽  
Budget Reform ◽  
Social And Economic Development ◽  
First Results ◽  
Development Assessment ◽  
And Control

The Russian government’s approval in May 2004 of the Concept of the Budget Process Reform started the budget reform that aims to refocus the budget process from cost to performance management. In the article the authors analyze different aspects of introduction of performance based budgeting methods in Russian practice as well as bottlenecks the budget reform faced at the first stage of its implementation: financing and management of federal target programs of social and economic development; assessment and control of the efficiency of budget outlays, etc.

The Role and Place of Budget Procedure in the System

2003 ◽  
pp. 42-49 ◽  
Author(s):  
E. Bushmin
Keyword(s):  
Budget Process ◽  
Public Expenditures ◽  
Principal Role ◽  
Process Trends ◽  
The Given ◽  
Rules Of The Game

The article is devoted to the analysis of improving budget process trends. The author offers the concept of "financial technologism". Its usage should promote an essential improvement of the budget process. The given concept is based on the fact that the regulation of budget procedure is the process of determination of "rules of the game", and the order of interaction of different institutions within the framework of the budget process, and the trends and volumes of expenses are the strategy of institutions. The procedure within the budget process plays a principal role as compared with the trends and volumes of public expenditures.

Modernization of the Public Finance in Russia

2006 ◽  
pp. 103-111 ◽  
Author(s):  
Mst. Afanasiev ◽  
I. Krivogov
Keyword(s):  
Public Finance ◽  
The Public ◽  
Budget Reform

Russian public finance reforming under conditions of substantial increase of budget expenditures is analyzed in the article. Basic directions of the budget reform are considered that are formulated in the variant of the Budget Code, which is currently still under discussion. The focus is made on results-based budgeting and federal investment programs management.

The Scottish Budget Process: Options for Change

2004 ◽  
Vol 47 (First Serie (1) ◽  
pp. 99-114
Author(s):  
Alex Christie
Keyword(s):  
Budget Process

Non-standard functions and structures of ministries of finance under economic challenges: A case study of Western governments

2020 ◽  
Vol 26 (11) ◽  
pp. 2448-2471
Author(s):  
S.V. Anureev
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Comparative Analysis ◽  
Great Britain ◽  
Central Banks ◽  
Economic Recovery ◽  
Budget Process

Subject. This article examines the functions and management structures of central financial bodies and related parliamentary and governmental structures in Australia, Canada, Great Britain, Japan, Germany, France and Italy. Objectives. The article aims to identify non-standard functions and structures that go beyond the classical responsibility of finance ministries as a central part of the budget process arising from current economic challenges. Methods. For the study, I used a comparative analysis. Results. The article describes the important new functions of financial authorities and treasuries of Western governments aimed at economic growth and economic recovery. Conclusions. The organizational and management structures and functions of the ministries of finance go far beyond the budget process, overlap with and dominate the functions of central banks and ministries of economic development.

Information publicity and transparency of budget process in the consolidated territorial communities of Lvivska oblast: estimation and ways of improvement

2019 ◽  
pp. 46-52
Author(s):  
Olha Zhabynets
Keyword(s):  
Personal Responsibility ◽  
Local Level ◽  
Financial Information ◽  
Reform Process ◽  
Budget Process ◽  
Timely Manner ◽  
Public Authorities ◽  
Information Transparency ◽  
Key Indicator ◽  
Disclosure Of Information

In the process of decentralization in Ukraine, the information transparency of the management becomes important, which implies the openness and accessibility of information for all members of society. It reflects the current and perspective states of the reform process. Decentralization means not only a transferring of powers, but also financial resources and responsibilities from public authorities to local authorities. So the information publicity and transparency of the budget process should become the key indicator to estimate the effectiveness of the management of the finances of the consolidated territorial communities (CTCs). The purpose of the article is to evaluate and propose ways to increase the information publicity and transparency of the budget process at the local level. The author analyzes the implementation of the requirements of the Ukrainian legislation about informational publicity and transparency of the budget process in the CTCs of Lvivska oblast established in 2015-2017 and shows positive and negative moments in displaying of financial information on CTCs’ sites. A number of measures are proposed to increase the information publicity and transparency of the budget process at the local level. The author considers that in order to ensure publicity and transparency of the budget process in the CTCs of Lvivska oblast it is necessary: to unify and maximally simplify the mechanism of access of CTCs’ members to financial information through the standardization of the procedure for disclosure of information about the budget process; to increase the personal responsibility of the heads of the CTCs for the lack of financial information that is due to be published on the site of communities; to continuously monitor the availability and updating of information about the budget process on the CTCs’ sites in order to respond in a timely manner to the appearance of possible negative trends; to take preventive measures with the use of appropriate sanctions (fine, removal from office, etc.) in cases of delaying the submission of actual financial information to the site of CTCs, the disclosure of information in its entirety, the discovery of unreliability of financial information or other manipulations with figures or financial documents filed on CTCs’ website.

CURRENT STATE OF REGULATION OF INTERNAL FINANCIAL CONTROL AND INTERNAL FINANCIAL AUDIT IN THE BUDGET SECTOR

2020 ◽  
Vol 1 (9) ◽  
pp. 119-124
Author(s):  
D. R. GINIYATULLINA ◽  
◽  
◽  
Keyword(s):  
Internal Control ◽  
Internal Audit ◽  
Regulatory Framework ◽  
International Standards ◽  
Financial Control ◽  
Budget Process ◽  
Federal Law ◽  
Government Sector ◽  
General Government ◽  
Financial Audit

Since 2013, there has been an active transformation of the regulatory framework related to the implementation of international standards of internal audit in Russian practice, which regulates the organization and implementation of internal financial control and internal financial audit in the general government sector. However, the regulatory framework is constantly undergoing changes that are associated with the need to take into account the specifics of the functioning of these organizations. Particular attention is paid to the development of the methodological foundations of internal financial control and audit on the basis of amendments made by the Federal Law of July 26.07.2019, 199-FZ to the Budget Code of the Russian Federation. In particular, internal financial control was removed from the budgetary powers of participants in the budget process. When these changes were implemented, a lot of questions arose, such as the exclusion of internal financial control as a separate budgetary authority means that this type of control can be omitted, journals and internal control cards are not kept.

Sign in / Sign up

Export Citation Format

Share Document