Key Elements of Public Budgeting and Financial Management for The General Growth and Development

Introduction

Public budgeting and financial management is very fundamental for any development oriented nation. The budgeting and management champions the concept of accountability hence, allowing proper allocation of the public funds and resources. The local government officials should be able to account for every single cent especially on the expenditure perspective.

The customers must be treated fairly in order to attract their investments and participation towards nation building. Accountability will be the main objective and goals to the general public growth and development. However, other internal and external vectors of backward development might bar the necessary development destined for. Therefore, the government should lead from the front by ensuring the aspects of corruption and misappropriate of public resources and funds is completely put to rest (Chand, 2008). This case-based research paper addresses the key elements of public budgeting and finance management for general growth and development.

Research progress

The government has the primary responsibility of cherishing and championing the concept of accountability. The executives in the government must embrace the culture of prosperity and proper policy implementation. Lack of classical economic bottom line base will bar the search for accountability especially with the managers. Failure to actively involve the public as part of the stakeholders might ruin the whole process of responsibility. Performance monitoring of all government and non-governmental activities is the fundamental unit towards a better tomorrow and higher economic gains.

The annual assessment is very health for all businesses conducted within the financial year. Without close evaluation, the public will be trading on dangerous grounds, which are most likely to affect the future under economical terms. The necessary information should be rendered to the public for briefing on the ongoing projects. This will help the citizens to understand the current economical trends and act swiftly towards better performance.

Critical evaluation of past resource decisions and will translate to better and concrete decisions in the near future hence, instilling a brighter future for the state. This could be achieved through the government official associations. It all takes courage to go through government financial records in order to understand where the necessary changes should be made. Annual reports should be helpful with clear and thorough auditions being made in order to discover any notable anomalies.

Better service delivery options should be offered in order to cater for all customers regardless of their status. Relief features should not be an issue for the government to take the rightful delivery services to the general public. Instead, it should give them a chance of serving the customers with due respect. Equal allocation of resources should serve as the base line of financial stability. Each and every part of the country should enjoy the national cake by getting the equal share without further discrimination or underestimation. For instance, devolution at the county level will help the counties to grow and develop to higher levels.

The central government should ensure the available national resources are equally distributed for the entire state region to experience development (Menifield, 2013). The government officers at the ground should equally be held responsible for actions towards the issue of economical underdevelopment.

The citizens have got a voice towards the sanity and proper policy implementation. This could be done by raising an alarm on the improper and unlawful activities, which could be very dehumanizing and discouraging. For example, if the citizens get to realize that that some politicians are being squandering the public funds for their own selfish interests then they should not hesitate to ask why this should be happening. They should rise up against such kind of eventualities and illegal dealings, which are destined to backward developments.

Communication is significant to any positive minded country. The state has to avail important and necessary information to the general public. In fact, it is the sole responsibility of the state to ensure the general public gets the information required towards active participation. It should generate the findings, which must have been achieved through thorough auditions and research.

The availed information will assist the customers to know and be aware of the fundamental ideologies of their businesses. For instance, if there is a problem in a given ministry the government should ensure there is well coordination of the information given and the situation on the ground (Menifield, 2013). This will help the customers to come up with better strategies to fit the situation at hand. This concept of communication applies to all levels such as the vertical and horizontal ones.

The main issue on discussion is public budgeting and the management of finances. The issue should be tackled by actively involving all the necessary stakeholders. The parties’ concern need to work in coordination in order to cherish faster growth and development. According to our case study, the local government officials have thought it good to synchronize and re-strategize on the positive measures towards nation building.

They have decided to simply redefine their long term objectives and goals. They have discovered that the only platform for financial growth and development is by cherishing and championing customer relations. If the country relates well with its customers then definite economic growth and development will be experienced. This could be achieved through massive investments hence, the higher stake for economic base line. Actually, it has been realized that this is the only form, which can be used to describe the country’s efforts of customer service delivery and critical address of their needs.

Consequently, it is clear that for every government policy implemented there must be public accountability. This is because the customer oriented government will always solicit public opinions on the public agendas. By so doing the customers will get to know what is expected of them and the necessary steps, which had been made by the government. Further, the public should be involved on the jurisdiction plans because they are part of the public-government dynamics.

The policies implemented should be subject to change upon the demand of the public sphere. If the customers raise a concern on the amendment of some policies the government should act without hesitation in order to enhance and facilitate the economical growth trends. Through the customers, the nation’s economical and political ability is relayed to the world for all. Equally, the entry of the local country’s market into the foreign market should be done on good international relations. This could probably be done by the esteemed customers of the nation.

In order to realize better performance the government should not work alone on projects and activities and table the results at the long run for the public to see. Instead, it has to work in coordination with the community through their elected representatives who will share the public opinions with the government officials for critical actions. On this platform where the society and their government closely work together, positive returns will be achieved. Here the customers are able to work on the possible changes, which could be paramount to their success.

For instance, based on our case study, Myrtle Beach, South Carolina has been the fortunate for being the community’s financial prosperity hence, making its appearance on the list of the fastest growing economies in the United States. This was as per the American Demographics magazine report. The total population has increased by a greater margin thus making the service population shooting up to almost 100,000. The economical growth was experienced as the small retail businesses within the city could report higher profit margins (Moeti & Khalo, 2007).

For instance, there was an increase of retail sales from $550 million in 1987 to $1.4 billion in the year 1997. Actually, this was a massive economic growth. Adaptability of the seaside resort to such situation was purely with the help of community participation and towards tying the objectives and goals to the society’s tastes and preferences. Equally, financial planning could help and facilitate the achievement of the organizational objectives and goals.

Conclusion

Conclusively, the concept of public budgeting and financial management is very helpful in cutting down on the government spending. Also, it will reduce on the costs of production hence, zero-rating on the possible debts incurred. This will enhance and facilitate the act of accountability in all activities carried out and their possible outcomes. The government needs to work in coordination with the public by taking into consideration their grievances.

The public agenda should be tabled by the government and the public elected representatives in order to actively involve the two parties. Based on the case study and examples given, the local government officials should emulate the same in order to promote general economic growth and development. The lessons learnt indicate that government needs to customer oriented in order to attract more investments hence, creating an avenue for positive development. Any unlawful activities should be stopped with immediate effect. Actually, it is the primary responsibility of both the government and the general public to implement on the rightful policies, which are determined towards higher economical growth and development.