This book is unique in its exclusive and comprehensive focus on the management of public funds. The book emphasizes defining terms, framing concepts, and examines common controversies in the field. The authors begin with a broad introduction to public finance administration. They then cover topics such as: revenue and expenditure; managing cash flow; capital budgets; and the financial components of human resource management. With its unique focus on the management of public funds, the book fills a need for courses in public finance administration by providing a public administration-based approach.
The news stories in the 1990s sent shock waves through the public sector. Orange County, California, lost more than $1.7 billion because of speculative investments. Odessa College of Texas lost more than $28 million because of risky investment strategies. These stories highlight the importance and risks associated with public investment decisions. Public organizations at all levels have found that investing otherwise idle dollars can provide additional resources at a time when existing revenue sources fail to meet increasing demands for services.
Investing refers to using money to make money. Investment policies and practices by public agencies have become increasingly sophisticated and complex at the same time that the awareness of the importance of such practices has grown. Only a few years ago it ...