Finance in Public Finance, There Term Paper

This allows the public to see where their taxes are being spent and the way it is addressing the short / long-term issues. (Ekstedt, 2012) (Holzer, 2011)

Public choice and the political processes

The public has a choice as to who they want to represent them and the way various services will be provided to them. This means that they will select individuals who are closely aligned with these beliefs and can meet their larger objectives. The political process will involve having an open discussion of how different services should be provided and the way numerous resources will be allocated. This allows the public to determine if a particular candidate will meet their objectives and if they can provide them with the resources they require in meeting these goals. (Ekstedt, 2012) (Holzer, 2011)

Relate these topics to the budget process, its participants, and the key information used to make budget decisions.

These topics relate to budget process, by illustrating how various services are provided to everyone and the impact it will have on different stakeholders. This allows participants to understand what is happening and voice their concerns about these issues. At the same time, they can see which elected officials can achieve these objectives and how this could impact the way various services are provided to everyone.(Ekstedt, 2012) (Holzer, 2011)

The key information that is used to make budgetary decisions is: focusing on if it can meet the needs of large segments of the population, the impact it will have on the economy and ways it can help to improve the standard of living inside the community. These elements are important, as they will determine what programs are enacted and the focus of government officials in meeting the needs of the community over the long-term. (Ekstedt, 2012) (Holzer, 2011)

Clearly, there are a host of strategies that are utilized to by administrators in providing various services to the public and effectively allocating different resources for them. The concepts and tools that were discussed, are illustrating how they will account for the needs of specific segments in the process. This will assist them over the long-term in creating polices which are taking into account these issues.

It is also providing improving transparency. This ensures that officials understand the views of the public and what matters the most to them. When this happens, they will be able to effectively able respond to these issues by placing resources in areas where it they are needed the most.

References

Ekstedt, H. (2012).….....