The three traditional sectors of the United States economy—government, non-profit organizations (NPOs), and for-profit organizations—are similar in terms of financial and fiscal responsibilities. While financial functions (e.g., strategic financial planning, accounting, etc.) largely are the same in these organizations, the public sector has unique characteristics that impact finance and budget administration. For example, public organizations are accountable to citizens and, sometimes, to higher levels of government. Therefore, the budget process includes and involves these two sets of stakeholders.

In this Discussion, you consider how finance and budgeting theories and concepts apply to a specific public organization. Review this week’s Learning Resources and focus on the fundamental concepts of finance and budgeting in public organizations.

Write a brief description of a government organization with which you are familiar within your state or nation. Then, explain how you might apply at least two basic finance and/or budgeting concepts or theories to the organization. Be sure to provide brief descriptions of each concept or theory and specific examples of how you might apply them.

Required Readings

Mikesell, J. L. (2018). Fiscal administration: Analysis and applications for the public sector (10th ed.). Boston, MA: Wadsworth.

• Preface (pp. vii–viii)
• Chapter 1, "Fundamental Principles of Public Finance" (pp. 1–40)
• Chapter 4, "Federal Budget Structures and Institutions” (pp. 154-207)
• Chapter 5, “State and Local Budgets” (pp. 214-251)

Becker-Medina, E. (2013). Annual survey of public pensions: State- and locally-administered defined benefit data summary report: 2011. Retrieved from http://www2.census.gov/govs/retire/2011summaryreport.pdf

Chantrill, C. (2014). Government spending in the US. Retrieved from http://www.usgovernmentspending.com/local_spending…