Public Budgeting- Revenue Sources

Three revenue sources in public budgeting keeping Tax Property tax can be defined as a levy that the establishment issues on a persons property. The value assessed to the property is taxed. Revenue of local political relations same(p) cities and counties be derived from property taxes. The revenue is used for administration in political relation and expenses concerning law enforcement, paramedics etc. and alike to gunstock courts in local governments and helps for the payment of services which let in civic centers, company programs, libraries, parks and recreation, and schools.Property taxes are also often used to pay some extract programs such as Medicaid (in New York for example) and also to proffer public assistance such as assistance to needy family (TANF), child welfare services and former(a) social services such as supported employment, adult protective services, domestic violence and ain care assistance. This revenue can also be tracked in public safety like in juvenile detention, probation services and other mandates (corrections/ county jail, law library in county jail, staffing for state and county court, prosecution services, community colleges etc. ).Property tax revenue can be tracked in many ways, it depends on severally state but all states generally use these revenues to fund almost the same programs. Intergovernmental Revenue Intergovernmental revenue is the funds obtained from other governments. These funds usually include grants, taxes which are shared, and contingent loans and advances. Here, funding emanates from all governments (federal, state and local governments). Financial arrangements for funding and delivering intergovernmental services can be complex according to the variability of government structure, organization, roles and responsibilities.For example, government support concerning elementary and secondary schools includes direct funds from the federal government that are passed through state and local governme nts to local educational agencies (www. gao. gov). There are also funds allocated to cover be for elementary and secondary education, these funds include the rent on school buildings for example. Charges for services Charges for services are defined as customers charges and others charges coming from governmental and business activities. Charges for services within the governmental activities category include items such as licenses and permits (for example, business licenses and building permits), fines and forfeits, and operating special assessments sometimes charged for services provided away the normal service area or beyond the normal level of services. Charges to other governments for services such as incarceration of prisoners also are reported in the Charges for Services column (Kattelus & Reck, 2007).These charges include non-homogeneous services rendered within the states for example park entrance fees, document fees, court-filling fees etc. It also implies any governmen t which purchases, uses or benefits from goods and services provided. References Wilson, E. R. , Kattelus, S. C. , & Reck, J. L. (2007). Accounting for governmental and nonprofit entities. (14th ed. ). Boston, MA McGraw-Hill Irwin. http//www. gao. gov/special. pubs/longterm/state/intergovrevenue. html