Fund Accounting And Capital Budgeting: European Experiences
Budgets have to meet a number of principles in order to fulfil their functions properly. This paper focuses on two of these budget principles. First, it addresses the principle of unity and universalism. More in particular, it discusses the issue of earmarking receipts. It is concluded that most of the perceived benefits of special fund accounting do not occur in practice. Second, the paper deals with the principle of an efficient division of the budget. It is concluded that the credibility of the main argument for a capital budget, being that it reinforces the allocation function of the budget, is questionable.
|Date of creation:||1996|
|Date of revision:|
|Publication status:||Published in Public Budgeting and Financial Management 1.8(1996): pp. 26-46|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- James M. Buchanan, 1963. "The Economics of Earmarked Taxes," Journal of Political Economy, University of Chicago Press, vol. 71, pages 457.
- Brennan,Geoffrey & Buchanan,James M., 1980.
"The Power to Tax,"
Cambridge University Press, number 9780521233293, November.
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