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Ethics in Public sector - USA
Finance & Accounting
Pages 4 (1004 words)
Name: College: Course: Tutor: Date: Finance and Budgeting Section V – Finance and Public Budgets Question 1 It is the responsibility of local governments to provide certain essential services within their jurisdiction. In order to provide these services, they have to generate revenue with which to fund service provision.
Intergovernmental transfers are explicit transfers of funds from the state and Federal governments. The Federal government uses numerous different government programs to implement intergovernmental transfers. Temporary Assistance to Needy Families (TANF) and Medicaid are just a few examples of the numerous Federal government programs which provide support for local government expenditure on financial assistance to low-income households and health care. Intergovernmental transfers have a positive effect on local residents and businesses because they enable the provision of essential services. Essential services improve the welfare of residents and provide local businesses with an accommodating environment for carrying out their activities. They include public safety, sanitation, education, environmental and natural resource management, transportation, public health, economic development, and capital expenditure on infrastructure. The amount of Intergovernmental transfers allocated to various local authorities varies considerably. It is not a reliable source of revenue for local governments, and the Federal government provides intergovernmental transfers based on need and merit among the jurisdictions of local governments, as well as the national economic circumstances. ...
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