1
Q
Charter
A
local version of a constitution
2
Q
general purpose government
A
legislative, executive, judicial
- federal, state, and many local operate this way
- county, municipal, township
3
Q
federalism
A
power distributed among different levels of government
4
Q
government sovereignty
A
national government can’t be sued by states/citizens without its permission
5
Q
10th amendment
A
reserved clause, powers not delegated by the US constitution are reserved to states or the people
6
Q
commissions
A
government component established by law, statute or ordinance to fufill a role
7
Q
central management agencies
A
provide special services to other agencies
8
Q
hierarchy of government authority
A
constitution
laws
executive orders
statutory rules and regulations
agency rules and regulations
9
Q
federal government roles
A
national defense, foreign relations, interstate commerce, fed courts
10
Q
state government roles
A
public safety, property laws, education, marriage, licensing
11
Q
local government roles
A
building codes/permits, property tax, police
12
Q
executive orders
A
bypass lengthy and difficult process to enact legislation
*legislation can revoke
13
Q
initiative
A
citizens present their view of a problem and propose solutions
14
Q
referendum
A
requires certain legislative actions to be presented to voters for approval
15
Q
recall
A
enables voters to remove elected officials from office
16
Q
special purpose government
A
perform just one or two functions
- derives from constitutions, statutes, charter, or local ordinance
- school districts
17
Q
jointly governed organizations
A
coordinate provision of services among 2+ governement entities
18
Q
quasi government
A
blend government and for profit organizations
- functions covered by revenue and fees
- fewer management restrictions
19
Q
tribal government
A
nation to nation with US, operate as a state with police, education, taxes, etc
- can’t coin money, wage war or conduct foreign relations
- US hold land and natural resources in a trust
- federal tax not state
20
Q
county commission
A
enacts annual budget for community
21
Q
county executive officer
A
address complaints in community
22
Q
popular sovereignty
A
people elect government officials and hold authority
23
Q
ordinances
A
local law
24
Q
federal reserve system
A
central bank, independent of the US government, influence interest rates to influence economic activity, buy and sell government bonds, alter reserves banks keep on deposit
25
state limits on debt
in constitution
26
federal limits on debt
in statutes
27
appropriated budget
provides legal authority to spend and a legal constraint on government spend
- budget must pass every fiscal year
28
continuing resolution
allows government to continue operations for a limited period until budget is passed
29
supplemental appropriation/ budget ammendment
if appropriated budget depleted before end of period
30
debt
planned short or long term borrowing to finance government objectives
- state and local restricted to capital improvements
31
defecit
government expenditures exceed revenue
32
executive branch role in budgeting
proposes budget and implements
33
legistlative role in budgeting
provides oversight and approves budget
34
state and local time frame for budget
annual or biennial
35
government budget limits expenditures by
time, purpose, amount
36
special fund
fund established to account for collection of revenues that can be spent only for specified purposes
37
legislative earmarks
designate portion of appropriation to favored projects
38
government finance officers association (GFOA)
- guide to best practice in budgeting
- establish broad goals to guide decision
- develop approaches to achieve goals
- develop budget with approaches to achieve goals
- evaluate performance and adjust
39
government performance and results act (GPRA)
requires fed agencies to create long term strategic plans, supported by annual performance plans and reports
40
budget law/ordinance
appropriation law - legal authority to incur expenses and spend money
41
authorization
bill that approves programs, prescribes what an agency will do if funding is available
42
appropriation
makes funds available to
43
account structure limit/ classify government spending
by program or object class
44
object class
specific goods/services that may be acquired
45
reprogramming request
must be submitted and approved to move funds form object class
46
apportionments
OMB's approval to use a portion of the legislatively approved budgetary authority
- gives budget authority to the department/agency to distribute
47
allotment
agency's distribution of apportioned budgetary authority to various components within the agency
48
internal auditors
test internal controls on budget and financial management procedures
49
external auditors
objective review of government financial reports and practices
50
strategic plan
longer term document than budget
integrated into the budget
51
government management cycle
planning, programming, budgeting, operations, accounting, reporting, auditing
52
Planning
what and how of government operations
- priorities determined, define goals and how they will be achieved
- should occur throughout the year
- identify mission and goals
53
goal
broad statement of purpose for the program
54
objective
measurable accomplishment in a specified period
55
Programming
determine the most cost effective means for accomplishing goals and objectives
- refine full set of objectives and plan deployment of resources to specific programs
- tradeoffs made
- covers multiple years
56
Budgeting
- central control device
- laws/ordinances that reflect priorities
57
operating budget
- one or 2 years
- specify planned revenue and expenditures throughout period
58
cash flow budget
specific timing of cash receipts and exepnditures
59
capital budget
plan for big ticket items that support government operations for several years
60
Operations
all activities needed to achieve program objectives
ensure cost of controls do not exceed benefit
61
GAO publishes guide to internal controls
- effectiveness and efficiency of operations
- reliability of reporting
- compliance with laws and regulations
62
Accounting
ensure reliability and integrity of financial information
63
financial accounting
external users, leads to the preparation of external financial reports
64
budgetary accounting
remain within legal budget
tracks by purpose, time and amount
65
managerial accounting
gauge cost effectiveness of operations and improve efficiency
- financial and nonfinancial data
- internal needs
66
Reporting
communicate accomplishments and resources used
AFR - Agency Financial Reports
APR - Annual Performance reports (fed level required)
PAR - performance and accountability report (financial and performance)
67
FASB
defines GAAP for private sector
68
Citizen Centric Report (CCR)
communicates business of government to public at state and local level
69
Digital Transparency and Accountability Act (DATA)
increased availability of government financial data
70
Auditing
External - AICPA sets standards for not public companies
Internal - management process conducted by staff
71
GAGAS
GAO issues standards for governemnt audits
- financial, attestation, performance
72
tax equity
taxes should treat taxpayers fairly
73
horizontal equity
different taxpayers with same level of income should pay the same tax
74
vertical equity
taxpayers with different income should pay different levels of tax
75
income tax
progressive, higher income pay higher portion of taxable income
- levied on individuals and corporations
- less costly to administer, high compliance, responds to general economic conditions
76
sales tax
regressive, single tax rate applies to everyone
- state and local govt
77
benefit received
it should be worth it to implement a new tax or raise tax
78
collection efficiency
cost of collecting tax should be minimal compared to revenue
79
tax expenditures
exceptions to tax laws
cost the public in terms of lost revenue to fund projects
- social benefit exceeds lost revenue
- ex encourage home ownership by deducting interest on home mortgage
80
dedicated tax
levied for specific purpose and proceeds deposited into account restricted to that purpose
81
wealth tax
- real property tax
- personal property tax
- intangibles tax
-estate/inheritance tax
82
real property tax
cannot be moved
taxed on the value of the property
need appraisal
mostly local government used
levy rate: mil is 1/1000 of a dollar
83
personal property tax
mobile/can be moved (ex cars)
sometimes exempt for individuals but not corporations
difficult/expensive to administer
84
intangibles tax
tax on stocks/bonds, savings accounts
85
consumption tax
regressive, degree of fairness
- sales tax
- use tax
- excise tax
- value added tax
86
use tax
charged on goods purchased from out of state and used within other state
- voluntary compliance
87
excise tax
consumption of particular type of good/participation in certain activities
- narrowly targeted
- link taxation to specific services
88
value added tax
paid at each stage of development
used internationally
89
intergovernmental revenues
contracts
grants
loans
cooperative agreements
shared revenues
90
contracts
voluntary arrangements entered into for mutual benefit
91
project grants
fund for specific purpose for limited period of time
competitive
92
formula grant
categorical or block
formula contained in law or regulations determines recipients and amounts
93
categorical grant
formula grant, used for a narrowly defined purpose
94
block grant
formula grant, more flexibility to target resources
95
cooperative agreements
grantor employees participate closely in project
96
loans
provide financing from one fund to another in state and local
- general fund to special fund
97
shared revenues
revenue sharing among state and local
98
other revenue
license fees
user fees
donations
lotteries/gambling
investment income
public private partnership
99
interperiod equity
citizens who benefit from a service should pay
100
tax anticipation notes
short term financing in anticipation of future receipts
101
advance refunding
proceeds from new debt issue not directly applied to old debt
new debt buys securities placed in escrow and interest is used to retire old debt
102
covenants
legal requirements pertaining to bond issue
- maturity date, interest rate, repayment schedule
103
sinking fund
accumulate resources to repay principal
104
equity
repayment of debt should be borne by those benefiting from project/ done over the useful life
105
efficiency
loaned funds should be obtained at lowest cost
106
effectiveness
debt issue should provide sufficient funds
107
general obligation bond
secured by the full revenue base of the issuer
- voter approval required
- debt limits
- lower interest rates
108
revenue bond
secured by specific type of financing such as revenue from specific project or tax
- higher risk, higher interest rate
109
term bond
large block of bonds maturing in a single year
- associated with a sinking fund
110
serial bond
maturities every year over a period of years
111
warrant
order by authorized executive official that directs treasury to pay sum to bearer
112
notes
short term debt usually 1 year or less
reduced risk
113
lease purchases
at end of lease period, asset transfers to government
- account for as capital assets
114
certification of participation
participant is financial institution and other investors who purchase the right to participate in income stream from lease payments
115
debt guarentee
state provides guarentee for local debt and becomes liability of the state
116
inspector general act of 1978
independent and objective body within most large federal departments
- investigate fraud, policy advice, reports to congress
117
financial accountability
public officials are held responsible for resources at disposal
118
chief financial officers act of 1990
congress created key position and specified duties and reporting requirements
- deputy director in OMB
119
stewardship
government activities that promote long term health of community and economic conditions
120
surrogates
the media and advocacy groups that represent voters interests
121
oversight hearings
legislative and courts review of executive branch operations
122
evidence act
improve access to data and expand evaluation capacity to create evidence based policies
- strategic use of data
123
freedom of information act (FOIA)
provides public right to request access to records from any federal agency
124
Generally accepted government standards established:
GAO
125
GPRA
congress requires executive branch to develop performance measures for key programs and report results
126
service efforts and accomplishments (SEA)
demonstrates government accountability
127
GFOA
each government must define sustainability for itself
- social, environmental, and economic
128
sustainability
ability to sustain public services and meet obligations as they come dueb
129
benchmarking
comparing indicators across entities or different fiscal years
130
sustainability concern for state and local
pension plans and other post employment benefits (OPEB)
131
organizational accountability
delineates responsiblity and authority for resources, actions and results
- clearly defined duties, training, supervision
132
nepotism
granting of favors to relatives in fields
133
keys to ethical behavior
objectivity, independence, avoidance of conflicts of interest, due care
134
objectivity
uphold expectation of fairness, make decisions on merit, and dont allow prejudice or bias to influence decisions/behavior
- impartial, intellectually honest, no COI
- provide full and accurate information
135
independence
be free of relationships that may impair/appear to impair one's ability to act with objectivity
- being free of obligation to party/interest
- use caution when accepting gifts/favors
136
conflict of interest
personal interest in matters relating to official duties/activities
if you have a stake in the outcome you can cure by
- recusual
- waiver
- qualified blind trust
- divestiture
137
recusal
agreement not to participate
138
qualified blind trust
assets put in to care of independent trustee
139
divestiture
sale/disposal of assets
140
due care
discharge professional responsiblities with competence and diligance
- perform to best of ones ability
- appropriate supervision over others
- 80 hours of cpe every 2 years
141
E-Government Act
requires federal agencies to use internet based information technology to enhance citizen access
- OEG in OMB to support
142
interconnectivity
can find links to all US government on each site
143
Federal Funding Accountability transparency act (FFATA)
public access to how tax dollars are spent
144
listserv
sign up for automatic emails
145
RRS (really simple syndication)
continual updates on web based information
146
Office of Government Ethics (OGE)
prevent and resolve conflicts of interest amoung executive branch, strengthen public trust in governemnt and support ethical leadership of fed workforce
147
National Governors Association (NGA)
publishes resource on cyber/electronic security
148
section 208 of e government act
delineates procedures to safeguard privacy
149
OMB 03-22
expands on safeguarding privacy, PII, and privacy notices on websites
150
National Institute of Standards and Technology (NIST)
publishes encryption standards
- government body responsible for developing the standards and policies agencies use to ensure their systems/apps/networks remain secure
151
Privacy Impact Assessment (PIA)
federal agencies/contractors must do if they use information technology to interact with public
required before new system/system changes
prohibits cookies unless reported in PIA
152
federal info security modernization act (FISMA)
defines framework of guidlines and security standards to protect government information and operations
requires agencies to develop, document and implement info security programs and annual reviews
sets legal requirement for annual compliance
153
confidentiality
need to preserve restrictions on access to and disclosure of information
154
integrity
prevent unauthorized modifications and destruction of date
- ensures authentic information
155
availability
timely and reliable access to data
CGFM
flashcards
Decks in class (8)
# Cards
