Best Practices in Budget Management for Governments

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Every Fiscal year has a defined budget which is released by the government. Holding on to the best practices in budget management for governments is very important.

The budget for governments is a planned appropriation on funds available per year. These are funds that are needed for various agencies or groups of agencies and business institutions in the different states of the country. The government includes budgeted schedules for each account, legislative proposals and directions of the work to be performed. Additionally, the budget also comprises of information on certain transactions which are not part of the budget totals.

The best practices in budget management for governments involve providing the best services for citizens. This requires best practices in the following departments:

  • Rescuing the economy: This requires best practices of monitoring the Gross Domestic Product. It must not fall below a safe range.
  • Reviving job opportunities: The government must have the capacity to revive and provide new job opportunities to reduce unemployment.
  • Restoring responsibilities: The government must take responsibility for decisions taken in the interest of the economic growth of the country. For example decisions related to taxes.
  • Department of Agriculture: Provision of healthy food and in enough quantities for the fiscal year and still have surplus is one of the most important best practices for governments. In cases of natural disasters there must be enough to prevent famine.
  • Department of Commerce: The government must promote opportunities for business, climate science, satellite services, marine spatial planning and others. This best practice promotes innovation in manufacturing, and protecting intellectual property.
  • Department of Defense: National defense is a very sensitive issue. There must be compliance and best practices at very high levels. The government must budget for ready forces within the country and in other contingency operations.
  • National Intelligence Program: There must be strong intelligence programs for security of the state(s) and citizens.
  • Department of Education: Budgeting for the education facilities in the country is also one of the most important best practices.
  • Department of Health and Human Services: Providing health amenities is a very crucial best practice which is highly recommended to be part of the budget management for governments.
  • Department of justice: Strengthening local law enforcement agencies is an also one of the most important best practices in budget management for governments.
  • Department of labor: There is the need to look out for the interest of civilians working in various agencies.  For example; there must be budget management for benefits like paid leaves for workers.
  • Corps of Engineers and Civil Works: There is always a requirement for engineering and civil works with new constructions happening as development continues. Best practices are therefore recommended in budget management to include this aspect as well.
  • Environmental Protection Agency: Providing clean water and air is an important duty of the government towards its citizen. It requires compliance with best practices to ensure cleanliness.
  • Small business Administration: The government must budget its finances for small businesses.
  • Social Security Administration: Social security administration must be reliable and convenient for citizens.

There are other best practices in budget management for governments which are recommended.

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