Pa 581 full course latest 2017 november by yandex325

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PA 581 Full Course-Latest 2017 November

Question PA581 Week 1 Discussion 1 & 2 Latest 2017 November DQ1 - GOVERNMENT OPERATIONS Refer to your state’s most recent budget, or that of a state that interests you. What are the budget and finance constraints that the state places on local government? Does Dillion’s rule, as discussed in the text, apply? Do any units of local government have home-rule powers; and, if so, what is the extent of these powers? Determine the process this state follows with its yearly operating budget and also its capital budget. Does the state have written budgeting procedures that are updated regularly and followed? Are the procedures and processes followed? Are the four parts of the budget cycle followed clearly? Please provide examples. DQ2 - BUDGET STRATEGIES What are budget strategies and why are they so important to a governmental unit? What are examples of some very effective strategies? Please share personal experiences you’ve had using budget strategies. How effective were they? Did they achieve your desired outcome? PA581 Week 2 Discussion 1 & 2 Latest 2017 November DQ1 - BUDGET DEFICIT Let’s suppose that you are the budget director for the City of Hope. The city has been running budget deficits for the past three years. You have recommended measures to control the budget and eliminate the deficit over the next three years. You are now approaching the end of the second year; it is apparent that the situation hasn’t changed significantly, and you project that the deficit will continue to grow. What strategy would you develop now to correct the situation? Also, do you believe an amendment to the city charter or constitution prohibiting deficits would be a solution over the next three to five years? Why? Why not? DQ2 - BUDGET JUSTIFICATION

In an era of a bad economy, scarce resources, budget cuts, and deficits, how would you justify a new program or increases to an existing program? PA581 Week 3 Discussion 1 & 2 Latest 2017 November DQ1 - BENEFITS-COST ANALYSIS How do you determine whether a new program should be recommended for creation and funding? Do you approve a program with a favorable rate of return and net present value that exceeds the governmental entity’s internal rate of return? Or, do you approve a program that serves the needs of citizens, but may not create the desired rate of return? DQ2 - PERFORMANCE BUDGETING If you wanted to start a new government program, what types of outcomes would you expect? Select a program and then describe the outcomes. How would you measure them? PA581 Week 4 Discussion 1 & 2 Latest 2017 November DQ1 - ROCKY MOUNTAIN WRANGLERS The Rocky Mountain Wranglers are a professional football team in a large metropolitan city. They have competed on the gridiron in this city for the past 50 years. The people in this city and area of the country are very passionate and supportive of their team. Football is king in this city and it is entrenched in the culture. However, the team and the city are at a crossroads. Team ownership wants to build a new stadium. While the current stadium has served the team and fans well, it is showing many signs of age and deterioration, and it’s a dinosaur when compared to the majority of stadiums throughout the league. The owners want a state-of-the-art stadium with gigantic scoreboards, fine restaurants, shops, concessions, restrooms, pre- and post-game entertainment centers, luxury and corporate booths, etc.< The owners want to enter into a partnership with the city to build the new stadium. The city would be a major player in this effort, and it would receive major revenues from various stadium activities. The city’s share of the costs would come from a 0.5% increase in the local sales tax. This tax increase will be placed on the November ballot for approval. While it appears that this measure will pass overwhelmingly in a football-crazy city, that isn’t necessarily the case.The city has a variety of professional sports teams and, in fact, is one of the nation’s best sports towns. Also, music, art, tourism, and skiing are a big part of the area’s landscape. So, there are many factors to consider. Please pick one of the criteria listed below, define it, and indicate how it applies to this proposal. Value-added comments, experiences, and a lot of interaction are highly encouraged. vertical equity adequacy collectability transparency economic effects DQ2 - FEDERAL INCOME TAX ISSUES There are varying opinions and studies on which segment of the US population bears the largest burden for paying federal income taxes. Let’s identify the major groups of taxpayers

and discuss the percent of total income taxes each pays. Also, indicate whether the tax for each group is regressive, progressive, or proportional. Is the federal income tax system equitable and efficient? Why? Why not? Finally, is the situation the same today as in the past? How has the current administrationâ&#x20AC;&#x2122;s tax policies changed the situation? What is your overall conclusion? PA581 Week 5 Discussion 1 & 2 Latest 2017 November dq 1 WEEK 5: SIN TAXES 2525 unread replies.3939 replies. Sumptuary excise taxes are often called "sin taxes." Why? Why are the sumptuary tax rates on the purchase of alcohol and tobacco products so exorbitantly high? Why not just ban the use of alcohol and tobacco altogether? Are sumptuary taxes regressive? What are the sumptuary tax rates on alcohol and tobacco products in your area? Also, states and localities around the country are faced with regulating and taxing marijuana use. Federal law prohibits using marijuana; however, some states and local governments are legalizing its use for medical purposes. Pick a state or local government that has this situation. What steps has it taken to regulate and tax marijuana? Is such a tax regressive? dq 2 WEEK 5: PROPERTY TAX BREAKS 2424 unread replies.4040 replies. City governments are notorious for giving property tax breaks to businesses of all types in order to induce these companies to locate in their jurisdictions. Tax increment financing is one of these lures, and there are others. Find a city, municipality, township, etc., that has or will be offering such an inducement. Describe the situation, and say whether you think these kinds of enticements are a good or a bad idea. Also, for the local government and state you selected, report on the type of property tax relief that is available for disabled and elderly citizens. PA581 Week 6 Discussion 1 & 2 Latest 2017 November dq 1 WEEK 6: TAX EXPENDITURE BUDGET 2323 unread replies.4040 replies. Does your state develop a tax expenditure budget? Does it prepare impact statements? dq 2 WEEK 6: STATE LOTTERIES 3232 unread replies.4444 replies. State lotteries exist in 37 states and the District of Columbia. What are the upsides and downsides of state lotteries from the following perspectives? Provide just one comment per response.

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Citizens?

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State government?

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Local government?

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The private sector?

PA581 Week 7 Discussion 1 & 2 Latest 2017 November dq 1 WEEK 7: DEBT POLICY STATEMENT 2828 unread replies.3939 replies. You are the chief fiscal officer for a municipality and have been directed by the mayor's office to lead the development of a written debt policy statement. You are aware of the risks of borrowing money and the grave importance of strong internal controls. What must be included in this policy if it is to be effective? dq 2 WEEK 7: DEBT RESTRICTIONS 3030 unread replies.3737 replies. What restrictions are placed on state and local government debt in your neck of the woods? What methods are used to avoid those limits? Is there a state bond bank? PA581 Week 4 case analysis Latest 2017 November

WEEK 4: CASE ANALYSIS OVERVIEW Case Analysis: U.S. Budget Introduction Don't forget to submit your assignment.

Objective 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, 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.

Guidelines The following table provides a description of the assignment and grades associated with it, as well as instructions on the assignment. There is also a detailed handout on this assignment provided in the Files section of the Course Menu (see Case Analysis 1.pdf).

PA581 Week 7 case analysis Latest 2017 November

WEEK 7: CASE ANALYSIS OVERVIEW Case Analysis: State or Local Government Budget Introduction Don't forget to submit your assignment.

Objective 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.

Guidelines 

Use the internet to search on government websites for a state or local government budget.

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Papers must be 5 to 7 pages in length (this would be roughly 1 page per area included in the report), 12 point Times New Roman or Courier New font, doublespaced, include a cover page, introduction, body of the report, summary or conclusion and works cited.

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Appropriate citations are required.

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All DeVry University policies are in effect including the plagiarism policy.

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Papers are due during Week 7 of this course.

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Any questions about this paper may be discussed in the weekly Course Q&A Forum.

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This paper is worth 125 total points and will be graded on quality of analysis, quality of paper information, use of citations, grammar and sentence structure.

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For an example on on how to write a budget request, go to the web site for the GAO: U.S. Government Accountability link found in the Web Resources section of the Course Resources page. Type GAO-05-566 in the "Keyword or Report #" search engine. Locate the article "Internal Revenue Service Assessment of the Fiscal Year 2006 Budget Request," GAO-05-566, April 27, 2005.

Week 3 Quiz Question 1 4 / 4 pts (TCO A) Which of the following statements describes the relationship among federal, state, and local governments?

Local governments are closest to the people and have all governmental powers not expressly prohibited by the U.S. Constitution. States are creatures of the federal government and only have those powers expressly granted to them by the federal government. Local governments are creatures of their state government and have only those powers granted to them by the state. The federal government has residual powers that are not granted to state and local governments or not expressly prohibited by them. Question 2 4 / 4 pts (TCO A) Logrolling is the process where: one legislator trades a vote on one issue in exchange for the vote of another legislator on a separate issue. campaign contributions are used to secure a legislator's vote on a particular issue. media campaigns are initiated by special interest groups to sway public opinion on an issue. an appropriation is made to fund localized projects secured solely or primarily to bring money to a representative's district. Question 3 4 / 4 pts (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)? $714 billions $857 billions $1750 billions $2188 billions Question 4 4 / 4 pts (TCO C) The largest portion of local government expenditures is: police and corrections. health and human services. the mayorâ&#x20AC;&#x2122;s office. elementary and secondary education. Question 5 0 / 4 pts

(TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $24,000,000. Quarterly allotments were as follows: Q1 - $5,750,000 Q2 - $7,000,000 Q3 - $5,250,000 Q4 - $6,000,000 On December 31, 201X, budget reports showed expenditures of $12,500,000 and encumbrances of $800,000.Taking encumbrances into consideration, what is the status of Library System spending as of December 31? Operations were fully consistent with plan Over plan by $550,000 Under plan by $550,000 Under plan by $650,000 Question 6 8 / 15 pts (TCO B) List and identify the five most common reasons for requesting funds. Implementing the budgeting process through expenditure of budgeted items To disclose areas that require attention and action. It helps in re consideration an organizationsâ&#x20AC;&#x2122; goals and objectives towards achievement set goals Helps in coordinating different units an organization It can be an instrument for controlling and evaluating performance Reveals any losses or savings made Question 7 15 / 15 pts (TCO A) Name and describe the major steps in the executive budget preparation process. Step1: Identification of programmes, projects or activities you wish to accomplish in the budget period. Step2: Identification of the resources, in terms of manpower, materials and time. Step3: Costing of the resources, which involves detailed lists of expenditure are drawn in consultation with management committee Step4: Presentation of the budget as per budgetary guidelines formulated by the relevant authorities or funding agencies. Step5: Obtaining approval of the budget by the relevant authorities

Step 6: Implementation of the budget. Amounts allocated should not be exceeded without further authority from the management Question 8 20 / 20 pts (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): Individual Annual Benefit Ann $500 Bob $250 Chris $200 The overall annual total cost of the DRZ is $900. Does the DRZ represent a potential Pareto improvement? Incorporating numbers into your answer, say why or why not. (4 points) Suppose each individual will be assessed an equal share of the annual total cost. Will the project be approved in a majority-rule voting process? Incorporating numbers into your answer, explain why or why not. (8 points) Devise a cost-allocation scheme for A, B, and C that would ensure passage of the proposal in a majority-rule voting process. Explain why your scheme would work. (8 points) Pareto improvement: This is an economic process of getting benefit without harming others. Since the individual benefits exceed the total cost, D has Pareto improvement. Amount of Pareto improvement = Aggregate of individual benefits This is a potential Pareto improvement situation because the total benefits of $950 exceed the total cost of $900).Gainers (Ann) could over-compensate losers bob and Chris. The DRZ will go down to defeat because. Ann will vote for the proposal as she will benefit , Bob and Chris will vote against it since their cost share will exceed their individual benefits. An infinite number of solutions would apply here. Its tough to determine which basis of such an assessment scheme would be a challenge. Question 9 16 / 20 pts (TCO B) Distinguish clearly and carefully between each element of the five pairs of federal budget terms: Budget Authority (BA) vs. Budget Outlay (BO) Contract Authority vs. Borrowing Authority No-Year Authority vs. Annual Authority Rescission vs. Deferral Mandatory Spending vs. Discretionary Spending Budget Authority (BA) vs. Budget Outlay (BO)

Budget Authority indicates the impact of management and administration decisions on various organizations or federal government and it points out whether an organization is increasing or reducing funding. On the other hand, Budget Outlay reflects whether there is a surplus or deficit in the budget outline of a given financial period. Contract Authority vs. Borrowing Authority Contract authority is administrative move agency that empowers a government agency to receive duty before the related seizure has been cleared. On the other hand, borrowing authority refers to an act or law that empowers finance minister or treasury to provide for a maximum amount of definite borrowings. This enables organizations to borrow from the US treasury. No-Year Authority vs. Annual Authority No â&#x20AC;&#x201C; year authority provides for financial estimates for an indefinite period of time without monetary year restrictions. Annual authority are financial estimates or obligations that account for only one financial year and cease to exist or expire after use. Rescission vs. Deferral Rescission is a judicial remedy whose implication is cancellation of a contract between two parties. On the other hand, deferral refers to postponement of judgement of a judicial process or hearing. Mandatory Spending vs. Discretionary Spending Mandatory spending refers to spending on common personal and government vote heads such as medical care and social security expenses. Discretionary spending is the expenditure that must be approved by the government during fiscal appropriations. Question 10 20 / 20 pts (TCO C) A community wants to invest in new sewage treatment technology. 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 the property tax 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) In a given year, when it is assumed revenues and operating cost are spread uniformly, 3.5 years will elapse for the project to break even. Construction cost for the first year is $5,000,000. At the beginning of second year, the net benefit annually will be $2,000,000. In order to make back the initial $5 million outlay, 2.5 years will be taken beyond the first year of construction.

According to analysis, the property tax is appealing. This is because activities done on someoneâ&#x20AC;&#x2122;s property lead to emanation of all the sewage. Using the collected tax to pay bills will hinder the main purpose of collecting it. In collecting, the taxes there are issues, which should dictate the charge rates for businesses and residences. These issues can be agreed on easily. PA581 Week 3 Quiz Latest 2017 November Question 1 4 / 4 pts (TCO A) Which of the following statements describes the relationship among federal, state, and local governments? Local governments are closest to the people and have all governmental powers not expressly prohibited by the U.S. Constitution. States are creatures of the federal government and only have those powers expressly granted to them by the federal government. Local governments are creatures of their state government and have only those powers granted to them by the state. The federal government has residual powers that are not granted to state and local governments or not expressly prohibited by them. Question 2 4 / 4 pts (TCO A) Logrolling is the process where: one legislator trades a vote on one issue in exchange for the vote of another legislator on a separate issue. campaign contributions are used to secure a legislator's vote on a particular issue. media campaigns are initiated by special interest groups to sway public opinion on an issue. an appropriation is made to fund localized projects secured solely or primarily to bring money to a representative's district. Question 3 4 / 4 pts (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)? $714 billions $857 billions $1750 billions $2188 billions Question 4

4 / 4 pts (TCO C) The largest portion of local government expenditures is: police and corrections. health and human services. the mayor’s office. elementary and secondary education. Question 5 0 / 4 pts (TCO C) Appropriation to the State Library System (fiscal year starts July 1) for fiscal year 201x was $24,000,000. Quarterly allotments were as follows: Q1 - $5,750,000 Q2 - $7,000,000 Q3 - $5,250,000 Q4 - $6,000,000 On December 31, 201X, budget reports showed expenditures of $12,500,000 and encumbrances of $800,000.Taking encumbrances into consideration, what is the status of Library System spending as of December 31? Operations were fully consistent with plan Over plan by $550,000 Under plan by $550,000 Under plan by $650,000 Question 6 8 / 15 pts (TCO B) List and identify the five most common reasons for requesting funds. Implementing the budgeting process through expenditure of budgeted items To disclose areas that require attention and action. It helps in re consideration an organizations’ goals and objectives towards achievement set goals Helps in coordinating different units an organization It can be an instrument for controlling and evaluating performance Reveals any losses or savings made Question 7 15 / 15 pts

(TCO A) Name and describe the major steps in the executive budget preparation process. Step1: Identification of programmes, projects or activities you wish to accomplish in the budget period. Step2: Identification of the resources, in terms of manpower, materials and time. Step3: Costing of the resources, which involves detailed lists of expenditure are drawn in consultation with management committee Step4: Presentation of the budget as per budgetary guidelines formulated by the relevant authorities or funding agencies. Step5: Obtaining approval of the budget by the relevant authorities Step 6: Implementation of the budget. Amounts allocated should not be exceeded without further authority from the management Question 8 20 / 20 pts (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): Individual Annual Benefit Ann $500 Bob $250 Chris $200 The overall annual total cost of the DRZ is $900. Does the DRZ represent a potential Pareto improvement? Incorporating numbers into your answer, say why or why not. (4 points) Suppose each individual will be assessed an equal share of the annual total cost. Will the project be approved in a majority-rule voting process? Incorporating numbers into your answer, explain why or why not. (8 points) Devise a cost-allocation scheme for A, B, and C that would ensure passage of the proposal in a majority-rule voting process. Explain why your scheme would work. (8 points) Pareto improvement: This is an economic process of getting benefit without harming others. Since the individual benefits exceed the total cost, D has Pareto improvement. Amount of Pareto improvement = Aggregate of individual benefits This is a potential Pareto improvement situation because the total benefits of $950 exceed the total cost of $900).Gainers (Ann) could over-compensate losers bob and Chris. The DRZ will go down to defeat because. Ann will vote for the proposal as she will benefit , Bob and Chris will vote against it since their cost share will exceed their individual benefits. An infinite number of solutions would apply here. Its tough to determine which basis of such an assessment scheme would be a challenge. Question 9 16 / 20 pts

(TCO B) Distinguish clearly and carefully between each element of the five pairs of federal budget terms: Budget Authority (BA) vs. Budget Outlay (BO) Contract Authority vs. Borrowing Authority No-Year Authority vs. Annual Authority Rescission vs. Deferral Mandatory Spending vs. Discretionary Spending Budget Authority (BA) vs. Budget Outlay (BO) Budget Authority indicates the impact of management and administration decisions on various organizations or federal government and it points out whether an organization is increasing or reducing funding. On the other hand, Budget Outlay reflects whether there is a surplus or deficit in the budget outline of a given financial period. Contract Authority vs. Borrowing Authority Contract authority is administrative move agency that empowers a government agency to receive duty before the related seizure has been cleared. On the other hand, borrowing authority refers to an act or law that empowers finance minister or treasury to provide for a maximum amount of definite borrowings. This enables organizations to borrow from the US treasury. No-Year Authority vs. Annual Authority No â&#x20AC;&#x201C; year authority provides for financial estimates for an indefinite period of time without monetary year restrictions. Annual authority are financial estimates or obligations that account for only one financial year and cease to exist or expire after use. Rescission vs. Deferral Rescission is a judicial remedy whose implication is cancellation of a contract between two parties. On the other hand, deferral refers to postponement of judgement of a judicial process or hearing. Mandatory Spending vs. Discretionary Spending Mandatory spending refers to spending on common personal and government vote heads such as medical care and social security expenses. Discretionary spending is the expenditure that must be approved by the government during fiscal appropriations. Question 10 20 / 20 pts (TCO C) A community wants to invest in new sewage treatment technology. 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 the property tax 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) In a given year, when it is assumed revenues and operating cost are spread uniformly, 3.5 years will elapse for the project to break even. Construction cost for the first year is $5,000,000. At the beginning of second year, the net benefit annually will be $2,000,000. In order to make back the initial $5 million outlay, 2.5 years will be taken beyond the first year of construction. According to analysis, the property tax is appealing. This is because activities done on someoneâ&#x20AC;&#x2122;s property lead to emanation of all the sewage. Using the collected tax to pay bills will hinder the main purpose of collecting it. In collecting, the taxes there are issues, which should dictate the charge rates for businesses and residences. These issues can be agreed on easily. PA581 Week 6 Quiz Latest 2017 November Question 1 4 / 4 pts (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? $7,500 $7,000 $6,500 $6,000 Chapter 10. This owner has an adjusted (for exemptions) AV of $150,000-$30,000 = $120,000. If the tax rate is $5 per $100 of AV, then the tax bill will amount to ($5) ($1200) = $6,000. Question 2 4 / 4 pts (TCO E) The Federal government taxes consumption mainly through: general retail sales taxes. value added taxes (VAT). selective excise taxes. payroll taxes. Question 3 4 / 4 pts (TCO E) With reference to tax systems, the principle of collectability asserts that: a tax must be collected at a reasonable cost to society.

a tax must be collected by the government agency which imposed the tax. a tax must be collected within 90 days of its imposition. a tax must be paid by cash, check, money order, or electronic transfer. Question 4 4 / 4 pts (TCO E) Which of the following pieces of evidence would by itself allow a judgment about the regressivity or progressivity of a tax? High-income families have higher tax bills than do low-income families. The richest 5% of the population pay 30% of the total tax collected. Per-capita tax payments by rich families are higher than per-capita tax payments by poor families. Low-income families pay out a higher proportion of their income in the form of tax than do high-income families. Question 5 0 / 4 pts (TCO G) Program Budgets: link specific outcome measures to requests for funds. do not focus on measurable activities. classify the budget by goals and objectives such as "protection of persons" or "improved transportation." classify the budget in terms of objects of expenditure. Question 6 30 / 30 pts (TCO H) Capital programs are an important part of governmental budgeting and finance. Briefly distinguish between an operating budget and a capital budget. (15 points) 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) Question 7 27 / 30 pts (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. Using your own numbers, show clearly why such a tax is regressive. (15 points)

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) Question 8 24 / 30 pts (TCO E) Al has an income of $20,000; Betty's income is $40,000. With no sales tax in place, Al spends $5000 on grocery food and Betty spends $8000. 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) If the above policy is changed such that now Al 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) PA581 Week 8 Final Exam Latest 2017 November Question 1 25 pts (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. Question 2 25 pts (TCO D) What level of government do property taxes usually support? Question 3 25 pts (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: $3,750,000 Q2: $4,500,000 Q3: $3,750,000 Q4: $3,000,000 Flag this Question On December 31, 201X, budgetary status reports showed expenditures of $7,500,000 and encumbrances of $1,000,000. Using an accrual accounting concept, what was the budgetary status of Library Systems as of that December 31 date? Show and label all work and state your conclusion. As of the end of the third quarter, the Library System shows expenditures of $11,000,000 and has $3,000,000 in encumbrances. It projects that spending in the fourth quarter will be $500,000 more than what was initially allotted for that budget period. Determine the amount of the supplemental appropriation, if any, which must be requested in order to end the fiscal year with a balanced budget.Show and label all work. Question 4 25 pts

(TCO F) Our text discusses in a sidebar what happens when government finances go horribly wrong. It discusses fault, repudiation, receivership, and bankruptcy. Please describe and discuss each of these situations. Question 5 25 pts (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 Question 6 25 pts (TCO A, B) Where do the following three levels of government receive their budgetary and fiscal powers? The federal government. A state government. A local government. Question 7 25 pts (TCO A, B) Why must we have budget cycles in the government environment, whether it’s the federal, state or local level of government? Identify the four major phases of a typical government budget cycle, and briefly describe what happens in each phase. Question 825 pts (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 = $16,000; Bev = $25,000; and Chris = $17,000. The present value of the total cost of completing and maintaining this project equals $54,000. ·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 in your answer. ·In principle, could Bev, the major beneficiary, financially "cut deals" with Al and/or Chris so as to ENSURE that they would vote for the project? Using only the numbers given in the project statement as your starting data, specify how this could be done. Question 9 25 pts (TCO H) What is a capital asset? Explain what is meant by a capital budget and present an argument to justify the development of capital budgets by governmental units, giving at least two reasons to support that view. Explain the major differences between an operating budget and a capital budget. Question 1025 pts (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 SHOW ALL WORK IN A SYSTEMATIC FRAMEWORK TO EARN MAXIMUM POINTS. Hint: Develop a calculation table for analysis There is a proposal on the government table to exempt EITHER food OR clothing from the sales tax base. The purpose of this proposal is to seek progressivity rather than regressivity in the sales tax system. Provide a reasoned recommendation supported by calculations as to which option should be selected SHOW ALL WORK IN A SYSTEMATIC FRAMEWORK TO EARN MAXIMUM POINTS. Hint: Develop two calculation tables for analysis. 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 applied to all purchases, and purchasing behavior does not change as a result. In consideration of the sum total of ALL sales taxes paid, illustrate why this tax system is regressive.