Financial Planning—Its Political and Economic Bases

LTHOUGH financial planning is the heart of budgeting, it is vaguely understood as yet by many of our public authorities. For this reason, our governmental budgets are in many instances formulated along narrow and unsatisfactory lines. They often present little more than year-toyear previsions of necessary expenditures, the treatment of revenues available to finance such expenditures being wholly inadequate. Economic and social conditions, unless quite compelling, are practically disregarded in the preparation of these budgets. Official foresight of a long-range character is usually lacking; so also is any attempt on the part of public authorities to correlate the fiscal requirements of the various governmental units on the different levels of the Federal structure

Business · Economics · Political science · Politics · Economic Systems and Logistics Management · Fiscal Policies and Political Economy · Local Government Finance and Decentralization