PA 581 Entire Course Governmental Budgeting and Finance Keller

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PA 581 Entire Course Governmental Budgeting and Finance Keller

PA 581 Entire Course Governmental Budgeting and Finance Keller

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A+ Quiz Week 3, 6| Case Analysis Week 4, 7| Discussions Week 1-7| Final Exam

PA 581 Quiz Week 3 Governmental Budgeting and Finance Keller

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(TCO A) Which of the following statements describes the relationship among federal, state, and local governments?

(TCO A) Logrolling is the process where:

(TCO B) Current-dollar government purchases were $1,500 billion in 2010. With 2000 as the base year, assume the price deflator for 2010 is 175 (or, 1.75 if you don’t multiple by 100). In real dollars, the year 2000 government purchases would be which of the following (rounded to the nearest billion)?

(TCO B) Current-dollar government purchases were $1,250 billion in 2010. With 2000 as the base year, assume the price deflator for 2010 is 175 (or, 1.75 if you don’t multiple by 100). In real dollars, the year 2000 government purchases would be which of the following (rounded to the nearest billion)? (Points : 4) 

(TCO C) The largest portion of local government expenditures is:

(TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $24,000,000.

(TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $21,500,000.

Quarterly allotments were as follows:

(Points : 4)

(TCO B) List and describe the four basic elements of the president’s budget.

(TCO A) Name and describe the major steps in the executive budget preparation process.

(TCO B) Here are the annual personal benefits of a proposed Dog Romp Zone (DRZ) as perceived by Ann (A), Bob (B), and Chris (C):

(TCO B) Define and describe the following budget terms:

(TCO C) A state game and fish agency wants to invest in a new fish hatchery. It is estimated that the cost of operating the system will be $2,000,000 per year after a one-time installation cost of $5,000,000 is incurred. The construction period will be one year. Once the plant is constructed and in operation, community benefits are estimated at $4,000,000 per year. The system would be financed by a property tax increment placed on the business and residential sectors. (6 points)

Without considering interest rates and discounting, how long will it take for the community to “break even” on this venture? SHOW ALL WORK. (4 points)

What might be defensible logic behind using revenues from fishing licensing and fines from violators of fishing regulations, for the financing mechanism as compared to, say, a sales tax? (4 points)

Write a brief one-paragraph budget justification to support this project. [NOTE: I refer to the statement on Page 175 of the text, to wit. “Well-developed budget justifications are the key to successful agency budget requests.”] (4 points)

PA 581 Case Analysis: U.S. Budget Week 4 Keller

Prepare an analysis of funding levels for the U.S. Government and its Department of Education, identify trends as you look at the 2009 actual, and 2010 and 2011 amounts for outlays and receipts, and relationship to the Gross Domestic Product (GDP), and present a clear and concise conclusion that recaps the highlights of the documents with final remarks.

Preview:

To stabilize the financial system, the government undertook a comprehensive, forceful and sustained commitment by cleaning up legacy assets and jumpstarting the provision of new credit. This was expected to help build the people’s confidence in financial institutions and markets. It has also succeeded to the extent that small institutions have received the…

PA 581 Case Analysis U.S. Budget Week 4 Keller

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The Administration has endeavored to make it possible for the American people access credit so that their businesses, especially the small businesses can get the much needed funds to purchase equipment for their companies.  The ordinary Americans are realizing the American dream of owning a home, buying a car, going to college and starting on investing in businesses. The authority left by the President’s Bush regime enabled extending assistance to some of the very banks and financial institutions that partly led to the turmoil.  The current administration…

To stabilize the financial system, the government undertook comprehensive, forceful and sustained commitment by cleaning up legacy assets and jumpstarting the provision of new credit. This was expected to help build the people’s confidence in financial institutions and markets.  It has also succeeded to the extent that small institutions have…

The other aspect of restoring responsibility on the part of the government is transparency, which can be accomplished by opening the government to the Americans, as well as by allowing participation and collaboration to become the central focus.  The Administration proposes to publish more information online to increase accountability, promote informed participation, create economic opportunity, and…

PA 581 Quiz Week 6 Governmental Budgeting and Finance Keller

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(TCO D) A residence in Brevard County has an assessed value of $150,000. Its owner qualifies for an old age exemption of $10,000 and a homestead exemption of $20,000. The property tax rate is $5 per $100 AV. What will be the property tax bill on this property?

 (TCO E) The Federal government taxes consumption mainly through:

 (TCO E) With reference to tax systems, the principle ofcollectability asserts that:

 (TCO E) Which of the following pieces of evidence would by itself allow a judgment about the regressivity or progressivity of a tax? (4 points)

 (TCO G) Line-Item budgets:

 (TCO G) Program Budgets:

 (TCO H) Capital programs are an important part of governmental budgeting and finance.

(A) Briefly distinguish between an operating budget and a capital budget. (15 points)

(B) Develop a convincing case as to why it is appropriate for governments to prepare two separate budgets: an operating budget and a capital budget. Cite at least two reasons. (15 points)

(TCO H) Capital projects play a very important part in government at all levels. 

(A) Distinguish between capital outlay and capital budgets. Is capital outlay normally a part of the operating budget or operating budget? (15 points)

 (B) Provide five examples of capital outlay expenditures. Provide five examples of capital projects. (15 points)

 (Points : 30)

(TCO E) The City of Champions has a referendum that will go before voters to build the best football stadium in the world. The ballot calls for the voters to approve or disapprove a 6% sales tax increase to construct the new stadium. The stadium is estimated to cost $800,000,000. However, the sales tax increase will generate more than $1.1 billion dollars. The disposition of the excess funds is unclear.

(A) What standards of equitability apply in this case? (10 points)

(B) Describe each standard and explain why it applies and whether the standard has been violated. (20 points) 

(TCO E) Keller works within the City and County of Denver and lives in the suburbs. His employer deducts $6.00 per month from his salary for deposit in the Denver budgetary revenue accounts. He has no choice in the matter; the only way he could legally avoid it would be to either move into Denver or take a job outside the Denver confines. The tax being referred to is called a “head tax” or a “flat tax” since it is a constant dollar amount assessed on every living, breathing employee in Denver who does not have residence there.

(A) Using your own numbers, show clearly why such a tax is regressive. (15 points)

(B) Using one of the equity standards, develop an argument making a case that Denver could use to justify the imposition of such an annoying tax. (15 points)  

(Points : 30)

(TCO E) Al has an income of $40,000; Betty’s income is $200,000. With no sales tax in place, Al spends $7,000 on grocery food and Betty spends $12,000.

(A) If the state government now taxes all grocery food at 10%, and these two folks do not reduce their food purchases whatsoever, then is this sales tax proportionalprogressive, orregressive? SHOW AND LABEL ALL WORK, and interpret the numerical results. (15 points)

(B) If the above policy is changed such that now Al receives a tax credit of $200 at the end of the year, will your conclusion change? Again, SHOW AND LABEL ALL WORK, and interpret the numerical results. (15 points) 

(TCO E) Al has an income of $70,000 while Betty’s income is $30,000. With no sales tax in place, Al spends $7,000 on grocery food and Betty spends $4,000. 

(A) If the state government now taxes all grocery food at 10%, and these two folks do not reduce their food purchases whatsoever, then is this sales tax proportional, progressive, or regressive? SHOW AND LABEL ALL WORK, and interpret the numerical results. (15 points)

 (B) If the above policy is changed such that now and Betty receives a tax credit of $100 at the end of the year, will your conclusion change? Again, SHOW AND LABEL ALL WORK, and interpret the numerical results. (15 points) 

 (Points : 30)

PA 581 Case Analysis: State of Local Government Budget Week 7 Keller

Prepare an analysis of the most recent budget request of the state or local government of your choice, and present a clear and concise conclusion that recaps the highlights of the documents with final remarks.

PA 581 Case Analysis Week 7 Texas Government Budget Keller

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PA 581 Discussions Week 1-7 All Students Posts 418 Pages Keller

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PA 581 Government Operations Discussions 1 Week 1 All Students Posts 29 Pages Keller

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PA 581 Budget Strategies Discussions 2 Week 1 All Students Posts 26 Pages Keller

PA 581 Budget Deficit Discussions 1 Week 2 All Students Posts 28 Pages Keller

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PA 581 Budget Justification Discussions 2 Week 2 All Students Posts 26 Pages Keller

PA 581 Benefits-Cost Analysis Discussions 1 Week 3 All Students Posts 28 Pages Keller

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PA 581 Performance Budgeting Discussions 2 Week 3 All Students Posts 27 Pages Keller

PA 581 Rocky Mountain Discussions 1 Week 4 All Students Posts 28 Pages Keller

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PA 581 Federal Income Tax Issues Discussions 2 Week 4 All Students Posts 26 Pages Keller

PA 581 Sin Taxes Discussions 1 Week 5 All Students Posts 36 Pages Keller

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PA 581 Property Tax Breaks Discussions 2 Week 5 All Students Posts 34 Pages Keller

PA 581 Tax Expenditure Budget Discussions 1 Week 6 All Students Posts 34 Pages Keller

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PA 581 State Lotteries Discussions 2 Week 6 All Students Posts 34 Pages Keller

PA 581 Debt Policy Statement Discussions 1 Week 7 All Students Posts 35 Pages Keller

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PA 581 Debt Restrictions Discussions 2 Week 7 All Students Posts 27 Pages Keller

PA 581 Final Exam Budget and Finance Keller

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(TCO A) One of our lectures discusses the budget execution stage of the budget cycle. Please identify and explain each of the major steps in the budget execution process. (Points : 25)

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(TCO D) Property taxes receive a number of complaints from some taxpayers and many politicians. Please identify at least three of these complaints, and discuss them in detail. Refer to standards such as vertical equity, horizontal equity, and regressiveness as you discuss these complaints. (Points : 25)

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(TCO C) Quarterly allotments for the appropriation to the State Library System for the fiscal year beginning July 1, 201X and ending on June 30, 201Y were as follows:

Q1: $5,500,000
Q2: $5,750,000
Q3: $6,500,000
Q4: $7,250,000
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(TCO F) Answer completely all of the following questions:

Why do state and local governments go into debt?
What is a municipal bond?…
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(TCO E) What is the purpose of a tax system? One of the basic criteria that is considered when a tax system is evaluated is the equity standard. Please provide your interpretations of these items: 1. Purpose of a tax system and 2. Equity (Points : 25)

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(TCO A, B) What is the meaning of a budget format? Governmental budgets may be organized in line-item, program, and performance formats. What are the differences among these three approaches? Make an argument that builds a case for hybrid presentations that includes all three elements. (Points : 25)

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(TCO A, B) Our text addresses the federal deficit and relevant laws and measures for controlling and preventing deficits. Please explain each of these measures in detail.  These areas are (1) debt limits; (2) aggregate budgeting; (3) targets and enforcement; and (4) spending controls, PAYGO, and adjustable deficit targets.  (Points : 25)

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(TCO G) Explain the importance of Pareto Improvement to a governmental unit.

A public project produces the following individual benefits for stakeholders stated in terms of present values when an appropriate social discount rate of 15% is used: Al = $8,000; Bev = $20,000; and Chris = $11,000. The present value of the total cost of completing and maintaining this project equals $36,000.

  • Explain the importance of Pareto Improvement.
  • Is this project economically feasible from the social point of view? Explain.
  • If stakeholders knew that each would be held responsible (through taxation) for 1/3 of the project costs, would this project be accepted under majority rule? Why or why not? Be very specific, using numbers…

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(TCO H) List the steps in the capital budget process and explain each of them. (Points : 25)

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(TCO I) Below is a table showing the income of individuals A and B together with their food and clothing purchases in an untaxed environment (NOTE: K = 1000).
Individual Income Food Clothing
A $20,000 $5,000 $2,000
B $50,000 $8,000 $8,000

Before even considering any particular numbers, define precisely what is meant when we say that a tax system is regressive. Do the same for what is meant by progressive. 

Suppose a general sales tax of 5% is ….

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PA 581 Final Exam Answers Prepared Based on Study Guide 20 Pages Keller

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(TCO A, B) concentrates on the authority for federal, state and local powers for budgeting and fiscal affairs, the federal budget cycle, generic budget cycle, and budget formats. Know the essential information for each of these topics

 (TCO H) concentrates on capital projects, the differences between a capital project budget and an operating budget, the difference between capital outlay and a capital project, the steps in the capital budgeting process. 

 (TCO G) concentrates on Pareto Improvement. Be sure to know its importance, making the calculations, doing the analysis, and drawing conclusions and recommendations.

(TCO D) concentrates on property taxes, their particular importance to local government, assessed values, assessment ratios, mil rates, circuit breakers, and tax deferrals. Know the process for assessing property, and calculating and levying property taxes. Also, have a good understanding of the upsides and downsides (complaints) relevant to property taxes.

 (TCO A) concentrates on the steps and stages of the budget execution process; budget authority and the five different types of budget authority, and Congress’ make responsibilities and actions regarding the federal budget process.

 (TCO C) concentrates on quarterly appropriation allotments and monitoring and controlling the budget. Be prepared to read and analyze the budgetary status of an agency with quarterly allotments, expenditures, encumbrances, and unencumbered balances. This process will include doing calculations, analyzing the figures, and making recommendations.

 (TCO F) concentrates on government debt, deficits, and phases of budget cycles. Know reasons why governments incur debt. Ensure that you have an understanding of municipal bonds, corporate bonds, net interest cost, true interest cost and its relationship to capital project financing. Finally, be prepared to talk about the five principles of good debt management.

 (TCO A) concentrates on the importance of budget cycles and their four phases; governmental accounting principles, practices, and funds; and, federal laws for controlling and preventing deficits. 

 (TCO D) concentrates on the purpose of a tax system and the standards used to evaluate that system.

 (TCO I) concentrates on calculating sales tax rates for two individuals, determining whether they are regressive, and deciding which of two major products should be taxed in order to be equitable.