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COPYRIGHT GALE, Cengage Learning. All rights reserved.
COPYRIGHT GALE, Cengage Learning. All rights reserved
from December 1991
Last Number: October 2013
Activity-based costing (ABC), a method of determining the costs of providing government services, is an effective decision making and management tool. The feasibility of ABC method was manifested in the case of the Iowa Dept of Transportation (IDOT) Paint Crews. The ABC method provided the IDOT with important information that help improved the efficiency and effectiveness of the paint crews in terms of turning down time into productive hours and increasing overall truck speed.
Economic difficulties being experienced by Asian countries will have negative effects on the US, particularly on the Midwestern manufactured goods exporters. However, the negative effect on Midwest exporters will be relatively lesser than for the US overall. About 12% of the produced goods and services exported to Asia come from the Midwest, while the total US exported goods to Asia is 25%.
A survey of 364 finance directors from different cities, counties and towns showed a little difference in auditor rotation policies between small and large governmental entities. Findings also indicated that most governmental entities have no policy on auditor rotation and those that do mostly depend on an informal and unwritten policy. Moreover, auditors are rotated every four or five years for entities having an auditor rotation policy.
The Municipal Research and Services Center of Washington's report has identified several Washington cities that have adopted a biennial budget. These are Vancouver, Tacoma, Mercer Island, Kennewick, Steilacoom, Oak Harbor and Mabton. The report also indicated that a biennial budget can provide better long-range planning, personnel redeployment opportunities, policy emphasis and time redistribution. However, it also poses difficulties in adapting to economic change and in making revenue foreca...
Several state and local governments have upgraded their financial management systems (FMS) to deal with the year 2000 problem and to take advantage of new advances in client/server technology. The Government Finance Officers Assn has conducted a survey to evaluate the function and technical features of new FMS software packages used by these state and local governments. The survey showed that most FMS software packages have significantly improved FMS functionality.
A study conducted by the Center for Technology in Government indicates that state and local governments have different kinds of Internet policies. However, most Internet policies include the reasons for the use of the Internet, security of documents and employee rights and responsibilities. Internet acceptable use policies should contain the purpose for writing an Internet policy, rules on acceptable and unacceptable activities and information on responsibility for the compliance with the pol...
Government Finance Officers Assn's book The Government Finance Officers Assn's (GFOA) book entitled 'Investing Public Funds' has been revised in 1997 in light of changes in public cash management and investment practices. The 'Investing Public Funds, 2d ed' was written by ICMA Retirement Pres and CEO Girard Miller together with GFOA Research Center assistant director M. Corinne Larson and former GFOA staff member W. Paul Zorn. The book contains 16 chapters and costs $49.95 for members and $7...
Rock Hill, South Carolina Rock Hill, SC, has successfully formulated a long-range financial plan to address its nearly $8.2 million annual debt service requirements. The plan involves reducing expenses, rate increases and the transfer from utility fund to the general fund within a five year period. The five-year plan enabled the city to achieve a cumulative revenue enhancement/expense savings of over $20 million between 1992 to 1996 and increase its cash reserves to over $5 million by the en...
An inexpensive and simple way of preparing a municipal budget can be achieved through the use of information technology as a management tool. The basic tools needed are a personal computer, appropriate software packages and trained personnels. Several software packages for integrating a budget, generating reports and managing documents are readily available in the market at affordable prices. Each of these applications also require an appropriate security.
Colorado - Includes related article on economic development in Boulder, CO Different intergovernmental agreements (IGA) have been successfully used by local governments in the Denver, CO-metro area to reduce sales tax competition and to foster cooperation between local governments. The IGA approach include revenue sharing, county planning restrictions and comprehensive planning agreements. Local governments that have successful IGA are Boulder, Superior, Louisville, Adams County, Thornton an...
The proposed IRS audit guidelines for tax-exempt bonds pose difficulties to municipal issuers particularly when the auditor has determined that the issued bonds are taxable. In such a case, the municipal issuer can pay for the tax or choose from three alternatives. These are the total taxpayer exposure approach, lost arbitrage profits method or any other approach that the national office deems appropriate.
Illinois Chicago, IL's innovative Passenger Facility Charge (PFC) bond financing scheme has been successfully implemented for the O'Hare International Airport noise mitigation program. The PFC bonds were designed to provide immediate financial resources for funding the noise mitigation program. The bonds were given AAA ratings by three major rating agencies after the Federation Aviation Administration Record of Decision guaranteed that the city's PFC revenues were sufficient to cover debt se...
Public school financing - Includes related articles on education spending and public school enrollment Equitable financing for public schools still poses problems for lawmakers and the courts despite several efforts to provide equal school funding to rich and poor districts. Education funding seems to be affected by three main factors. These are the economic condition of the country, the courts and property taxes. Education budgets were relatively high when the economy is booming and when pr...
One significant result from the conclusion of the 1st session of the 105th Congress is the enactment of the Taxpayer Relief Act of 1997. The law has several provisions that are important to state and local government finances. Some of these concern Section 415 of the Internal Revenue Code and issues on tax-exempt bond. The new law also mandates that the 4.3 cents of the gasoline tax, which formerly goes to the general fund, be deposited to the Highway Trust Fund.
The revenue for the FY 1997 was $72 billion higher than the Congressional Budget Office's estimate of $1,507 billion in Jan 1997. The increase was attributed to the growth in individual and corporate income tax receipts, nonwithheld income taxes, and capital gains. The individual income tax receipts, which was expected to rise by 3%, increased by over 12%. Corporate income tax receipts was $3 billion higher, while the nonwithheld taxes was $25 billion higher than expected.
Government Finance Officers Assn. Feb 1998 meeting The Government Finance Officers Assn's (GFOA) Winter Meeting in Feb 1998 dealt with different issues concerning its five standing committees. Recommended practices, policy statements and work plans from each of the five GFOA committees were discussed. Other meeting highlights include Concord Coalition executive director Martha Philips's discussion on spending polices and Sen Byron Dorgan's discussion on the state of the US economy and on the...
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Contents in vLex United States