Great Expectations from Budgetary Structures within Local Public Organizations
Great Expectations from Budgetary Structures within Local Public Organizations

Summary/Abstract: The allocation of limited financial resources to satisfy endless competing interests has turned into a political tool which measures local governmental policy performance. The competition for resources translated in the demand for a larger share of the budget sometimes materializes in a political struggle among subjective interests neglecting the general welfare of the community. Budget execution and monitoring measures management performance while enhancing transparency and encourages local participation of the stakeholders. This paper analyses the sources of financing the budgets of local public organizations, as well as the rules and principles which subject the budgeting process. Thus, budgeting constitutes a highly complex process subjected to a binding set of rules and principles, which ensure the disciplines of forecast, collection and use of public money.

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