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Public Budgeting and Finance


90-731

Units: 6

Description

In simple terms, budgets are plans covering income and spending. But they are much more than that. Budgets are a statement of priorities for a government or organization and indicate expectations about the future financial situation of those entities. Budget documents and websites are also repositories of large amounts of data that can be used for analysis. In addition, they provide an indication about the success or failure of policies and programs.

Knowing how to construct and interpret such information will contribute to the success of future public and nonprofit leaders. Being able to find such information and explain it to others is a very useful skill! This class will cover the terminology, components, practices, documents, and methods of public budgeting and finance at various levels of government. It will also place an emphasis on policy analysis—thinking through the available data, drawing conclusions, and communicating that information to a non-technical audience.

To illustrate the concepts in the course, there will be a heavy focus on fiscal policy in the United States. Previous knowledge of U.S. institutions will be helpful, but not a requirement.

Learning Outcomes

· Master basic budget terminology and gain an understanding of budget documents

· Understand budgetary accounting

· Prepare basic budgets

· Enhance spreadsheet proficiency

· Develop capacity to critically analyze issues

· Communicate analytic results and recommendations through writing brief memos, creating graphics, and making presentations.

· Learn about national and local budget processes

· Gain an appreciation for the fiscal challenges facing the United States