This document discusses key topics in public finance including public budgets, rationales for government involvement, and budget processes at the federal, state, and local levels. It also covers taxation concepts such as tax incidence and progressivity. Nonprofit organizations and fiscal sustainability are additionally addressed. The document provides an overview of these public finance subjects and cites various references and sources for further information.

1. Jacob Birtwhistle
MPA 645
Professor Kittredge

2.  Public Finance
 Income and expenditure of government
 Who pays and who benefits
 Scope of public (Economics, 2018)
 Rationales for government
 Economics (UC Berkeley, 2018)
 Political economy (Kittredge, 2018)
 Budget
 Policy objectives the government wants to pursue (Hayes, 2002)
 Public budgeting is policy making (Kittredge, 2018)
 Budget cycle

3.  Federal Budget
 Begins with President
 Three stages of budget formation (Hayes, 2002)
 Congressional budget (Kittredge, 2018)
 Executive Budget process
 Execution is managed by Executive agencies
 Appropriations (Kittredge, 2018)
 State Budget
 Limited deficit spending (Kittredge, 2018)
 Required to balance budget (Center on Budget and Policy Priorities, 2013)
 State budget process

4.  Local governments
 State legislatures create and control (Kittredge, 2018)
 Systems Approach
 Interdependence of all major activities
 Six sub-processes (Kittredge, 2018)
 Nonprofit
 Companies organized under state law (Kittredge, 2018)
 Not all nonprofits are tax-exempt (Kittredge, 2018).

5.  Tax Incidence
 Who really pays
 Elasticity (Kittredge, 2018)
 Housing and cigarettes (Kittredge, 2018)
 Equity
 Horizontal
 Vertical (Kittredge, 2018)
 Tax system classification
 Progressive
 Regressive(Kittredge, 2018)
 Proportional

6.  Fiscal Sustainability
 Revenue and expenditures are kept in balance
 Borrowing held at reasonable levels
 Obligations are recognized (Mazur, 2016)
 Total Liabilities
 Tax Exempt Bonds
 Nonprofit Debt

7.  Email: Jacob.birtwhistle@yahoo.com
 Phone: 916-555-5555
 Please see the link below to access the script for
this presentation

8.  Affordable Housing Institute. (2006, March 8). Housing Demand is Elastic. Retrieved August 21, 2018, from Affordable
Housing Institute: http://affordablehousinginstitute.org/blogs/us/2006/03/housing_demand.html
 Bucci, M., & Beach, W. (2007, July 11). 22 Million New Smokers Needed: Funding SCHIP Expansion with a Tobacco Tax.
Retrieved August 6, 2018, from The Heritage Foundation: https://www.heritage.org/health-care-reform/report/22-
million-new-smokers-needed-funding-schip-expansion-tobacco-tax
 Center on Budget and Policy Priorities. (2013, February 7). Policy Basics. Retrieved August 30, 2018, from Skyepack:
https://app.skyepack.com/Pack/Document?elementID=327301
 Economics. (2018). Definition and Explanation. Retrieved August 31, 2018, from Economics Concepts:
http://economicsconcepts.com/public_finance.htm
 Hayes, W. (2002). The Budgetary Process. Retrieved August 30, 2018, from Profwork:
http://profwork.org/pp/budget/process.html
 Investopedia. (2018). Breaking Down Tax Incidence. Retrieved August 21, 2018, from Investopedia:
https://www.investopedia.com/terms/t/tax_incidence.asp
 Kittredge, W. (2018). Finance for the Public Sector. Skyepack.
 Mazur, E. (2016). Last Call for Common Sense. Journal of Government Financial Management.
 Tax Policy Center. (2018). Briefing Book. Retrieved August 7, 2018, from Tax Policy Center:
https://www.taxpolicycenter.org/briefing-book/are-federal-taxes-progressive
 The Library of Economics and Liberty. (2018). Market Failures, Public Goods, and Externalities. Retrieved August 30, 2018,
from The Library of Economics and Liberty: https://www.econlib.org/library/Topics/College/marketfailures.html
 UC Berkeley. (2018). Political Economy. Retrieved August 30, 2018, from UC Berkeley:
http://guide.berkeley.edu/undergraduate/degree-programs/political-economy/
 Wylie, S. (1999). Smoke and Mirrors. Retrieved August 21, 2018, from Dartmouth:
http://mba.tuck.dartmouth.edu/paradigm/back_issues/fall1999/articles/smokeandmirrors.html