Public Budgeting Systems (PDF/EPUB Version)

The Ninth Edition has been updated to give particular attention to several recent developments in public budgeting and finance including:

• Steps that have been taken by governments to battle the effects of the “Great Recession” and to enhance economic recovery. In the US, this includes the actions of the Federal Reserve as well as legislative efforts, such as the American Recovery and Reinvestment Act.
• Significant increase in use of fiscal policy tools to stimulate economic recovery, in contrast to most recent previous 20 year period.
• The federal government’s direct role in the operations of the private sector will be explored. The government has become a major stockholder and therefore has a financial stake in seeing that corporations succeed.
• Unprecedented federal deficits, as well as extreme budgetary challenges at the state and local level, including a discussion of causes and possible solutions.
• Other changes during the Obama presidency, including the passage of comprehensive health care reform and changes in the management agenda.
• Continued developments in financial and debt management, including additional GASB requirements and the effects of the recent economic contraction on the borrowing prospects for state and local governments.
• Additional recognition of the effects of the global economy, resulting in an increase in the pages devoted to discussing international examples.