I will update the outline to make it a quick read.
The Budget and Only the Budget
Individuals believe that “the budget” and “governments” are one. In this site we will not be discussing “the budget”, or the budget process but we will be discussing “governments” and a different government document and process completely unrelated to the budget, the Comprehensive Annual Financial Report (CAFR). The budget is a planning and monitoring document.
Simultaneous Budget Deficits/Shortfalls AND Financial Surpluses
This is the most deceiving topic that governments, politicians, and the news media have conveyed to the public about governmental financial matters. In realty, a government can simultaneously have a budget shortfall and a financial surplus of the taxpayers’ money.
A budget is an estimate of the amount of money to be received and the amounts to be spent for various purposes in a given time. It is a planning and monitoring document. It matches revenues (income) and expenditures…
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