Budgeting & Financial Management for Gov

Public sector budgeting in the United States, and perhaps globally, has become increasingly contentious in the aftermath of the2008 financial crisis and subsequent recession. This course introduces students to the field of budgeting and fiscal management in the public sector. We will look at the special challenges of developing a budget within a political environment and the techniques used for reporting, accountability and management control. Domestically, the landscape for government budgeting is being tested in unprecedented ways. Fiscal pressures at the federal and state levels have increasingly pushed responsibilities for program funding to the local level. Municipal bankruptcy, once a theoretical and untested concept, has emerged more frequently as a solution despite its long-term consequences. Selected topics will include inter-governmental relationships, taxes and other revenues, expenditure control, audits and productivity enhancement. Lectures will also address current events related to public sector budgeting at all levels, especially as the world continues to confront the COVID-19 global pandemic and the ensuing economic and fiscal crises. This course seeks to provide students with practical knowledge for budgetary and financial analysis.  Drawing from theory and from case studies, students will acquire practical skills to help them design, implement and assess public sector budgets. The practical nature of the subject requires the students’ active hands-on participation in assignments such as in-class debates, case analyses and a budget cycle simulation. By the end of the semester, conscientious students will be able to formulate budgetary recommendations backed up by cogent analysis and calculations.