Public Budgeting
Public budgeting is the process by which governments plan and allocate financial resources to various programs and services. It involves estimating revenues, prioritizing expenditures, and ensuring that funds are used effectively to meet the needs of the community. This process is essential for maintaining public services such as education, healthcare, and infrastructure.
The public budgeting process typically includes several stages, such as proposal, approval, implementation, and evaluation. During this process, government officials, including mayors, governors, and legislators, work together to create a budget that reflects the priorities of the community while adhering to legal and financial constraints.