Introduction to Public Budgeting and Financial Management

Catalog description

Public budgets determine the level of funding for government activities. But how are they made and who gets to decide how to distribute our resources? Can mayors, governors or presidents change the budgets, as they often promise in electoral campaigns? This course will help you understand the budget process, who the main actors are, major public spending categories as well as different revenue sources used to fund local, state and federal governments. Through class discussions and exercises you will also learn to use various practical financial management tools including revenue forecasting, cost-benefit analysis, discounting, and compounding. Government financial statements are also covered so you should not only be able to make more financially sound decisions, but also become better consumers of government financial information. The course is recommended to anyone interested in expanding their understanding of public budgeting and financial management for personal or professional purposes regardless of their background.