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Running head: LOS ANGELES AND NEW YORK
BUDGETARY COMPARISON 1
LOS ANGELES AND NEW YORK BUDGETARY
COMPARISON
3
Los Angeles and New York budgetary comparison
Vibert Jacob
South University
Los Angeles and New York budgetary comparison
The cities for comparison in this assignment are the city of New
York and the city of Los Angeles. These two are major cities in
the United States that have large population and play a crucial
role both locally and internationally. The cities have major
infrastructural, social, and economic burdens to bear. They also
have huge finances to budget for the management of their cities.
In the financial year 2017, the city of New York budgeted for an
expenditure of $84 billion (The City of New York, 2017). Los
Angeles has a budget of $9.2 billion (City of Los Angeles,
2017). The New York City budget is larger than some of the
states in the USA. Both cities are required to ensure they have a
balanced budget each year with clear information about the
sources of the funds, use of the fund and ensure that the
budgetary deficits are clearly financed in each year.
The city of Los Angeles budgets is prepared with several
underlying principles that must adhered. The city has a reserve
fund, which equals to 5% of the city’s general fund revenues.
The capital improvements fund for the city is equal to 1% of the
city’s general fund revenue. The city holds that all the funds
from one-time sources must be used to finance the one-time
expenditures. The city of New York has also established several
reserves to take care of uncertainties in the city (City of Los
Angeles, 2017). These reserves include the Retiree health
benefit trust funds, a general reserve as well as a capital
stabilization reserve fund for the city.
Sources of funds
The two cities have almost similar sources of funds for their
budgets. These sources of funds, however, have differing
contributions to the city’s finances. The table below presents
the proportional sources of incomes to the cities.
Los Angeles
New York
Source
%
%
property taxes
21.9
29
allocation from other government agencies
6.5
27
utility user tax
7.1
7
business occupation
8.6
4
licenses and other fees
24.5
8
sales tax
5.7
8
proprietary
5.3
13
miscellaneous
20.4
4
100
100
In the two cities, the property taxes account for the largest
source of incomes. In New York, the allocation and distribution
from other government and government agencies is the second
largest source of income. This is due to the international nature
of the city, which hosts major national and international offices.
The city of Los Angeles has large commercial enterprises within
its jurisdiction that contributed large amount of incomes in form
of licenses, fees, and permits compared to New York’s city
income from license and fees amounting to only 8% of the
overall incomes. The miscellaneous sources of finance include
the transfers from the reserve transfers, the special funds
available balances and other sources of funds that do not fall in
any of the official categories.
The expenditure of the city finances is an indicator of the
priorities for each of the city. Both New York and Los Angeles
have differing needs and different populations to serve. They
also have different infrastructure and challenges to address.
New York
L A
Education
28
2.5
social services
18
25
police, correction and fire
10
42
Transport
3
12.1
health and environment
6
5
recreation and culture
1
3.5
pensions and fringe
18
2.4
Debt
7
general government
9
7.5
100
100
The two cities have major expenditure in provision of safety
and emergency services within their areas of jurisdiction.
However, Los Angeles has placed more emphasis on the safety
and emergency services as it spent at least 42% of its annual
budget to this area of expenditure. The safety and policing
services in the city include controlling the crime in the city
through employment and deployment of police officers,
equipment and other support needed by the police (City of Los
Angeles, 2017). It also includes the control of fire by employing
fire fighters and fire engines within the city as well as the
provision of public assistance services in various areas. New
York City spends 10% of its budget on this vote head.
In contrast, New York City spends more on the provision of
education within its area unlike the 2.5% expenditure by Los
Angeles on the same. New York City has a large number of
basic education institutions within its area than Los Angele and
therefore has to allocate more in this area. Additionally, the city
commits its revenues to the expansions of the education
facilities owing to the large population who are dependent on
public education system, which includes the public school, bus
transport in almost all the schools. The social services account
for the second highest area of expenditure in both cities with
New York having a lower expenditure than Los Angeles. The
LA social services are broader than the New York’s as they
cover the cleanup of the cities, parks, sewerage system and the
provision of a solid waste management as well as children and
societal welfare.
The transportation services in both cities require an elaborate
planning process. The transportation system at New York is
well developed and financed which makes the city send lower
on this area. However, Los Angeles spends more on the
transportation with the majority, 6.5% of its expenditures being
used for the streets and highways and a considerable high
amount, 2.5% going toward traffic control. The city has also
placed major emphasis on the culture and recreational services
to promote the use of arts and the recreational services for the
large LA population. Government
The charts above show that New York has placed major
emphasis on Education, pensions and fringe benefits, social
services as well as police, fire and correctional services. These
areas of expenditure accounts for the largest portion of the two
cities budget. On the contrast, the city of Los Angeles has the
highest priority on the police, corrections, and fire services
followed by social services and transportation.
The 2017 budgets therefore show a contrasting area of priority
for the two cities. While New York has its focus on financing
education, the city of Los Angeles has its focus on the crime
prevention and general aim of securing the city. Given the
commercial interests of the LA city, there is need for the city to
spend more of its incomes to finance the crime prevention and
policing of the city as a way of protecting the commercial
interests and entities. On the other hand, the New York seeks to
empower its dwellers through education and provision of social
services to the citizens. It also seeks to service its debts from
the revenues it generates each year.
Budgets form a critical part of the governance structure in the
world. They act as a tool for the governments, whether national,
regional, municipalities as well as other private entities. The
budgets are crucial in showing the areas where the organization
or the government is maintaining its focus on (Djalil &
Maulana, 2017). It also shows what areas that are of great
importance by identifying the areas where the majority of the
funds will be allocated to and therefore offer an important view
on where the focus of the allocation of funds and the focus on
the public fund’s expenditure.
Budgetary allocation and analysis of a government’s allocation
of funds assists in the improvement of the government’s
transparency, accountability, and openness to its citizens. It
allows the citizens, from whom the entity well collect funds and
provide the services to, have an informed inclusion to the
government decision making. It also acts as a tool for achieving
inclusivity of these areas that have been left behind
economically (Shim & Siegel, 2008). Additionally, budgeting in
the government sectors provides an avenue to direct investments
to the areas where the government entity is placing major
priority. However, there is need for an in-depth analysis of the
impact of the government agencies budgetary allocation and the
implementation process of such budgets to determine their
efficiency and effectiveness in achieving their set objectives
(Ives, Razek, Hosch, & Johnson, 2011). The criteria of making
budgetary allocation as well as the choice of sourcing funds and
its allocation need be clearly analyzed and understood as they
have an impact on the type of the budget adopted, the budgetary
allocation, as well as the expenditure of the allocated funds.
References
City of Los Angeles. (2017). Budget Summary FY 2017-18.
Retrieved from http://cao.lacity.org/budget/summary/2017-
18BudgetSummaryBooklet.pdf
Djalil, J. M., & Maulana, R. (2017). Influence of the
Implementation of the Performance-Based Budgeting on the
Performance Accountability of the Regional Government
Institutions. Research Journal of Finance and Accounting, 8(6),
25-33.
Ives, M., Razek, J. R., Hosch, G. A., & Johnson, L. A. (2011).
Introduction to Government and Non-for-Profit Accounting.
Pearson Custom Publishing.
Shim, J. K., & Siegel, J. G. (2008). Budgeting Basics and
Beyond. Maison: John Wiley & Sons.
The City of New York. (2017). Executive Budget Fiscal Year
2017. Retrieved from
https://www1.nyc.gov/assets/omb/downloads/pdf/erc4-16.pdf

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Running head LOS ANGELES AND NEW YORK BUDGETARY COMPARISON .docx

  • 1. Running head: LOS ANGELES AND NEW YORK BUDGETARY COMPARISON 1 LOS ANGELES AND NEW YORK BUDGETARY COMPARISON 3 Los Angeles and New York budgetary comparison Vibert Jacob South University Los Angeles and New York budgetary comparison The cities for comparison in this assignment are the city of New York and the city of Los Angeles. These two are major cities in the United States that have large population and play a crucial role both locally and internationally. The cities have major infrastructural, social, and economic burdens to bear. They also have huge finances to budget for the management of their cities. In the financial year 2017, the city of New York budgeted for an expenditure of $84 billion (The City of New York, 2017). Los Angeles has a budget of $9.2 billion (City of Los Angeles, 2017). The New York City budget is larger than some of the states in the USA. Both cities are required to ensure they have a balanced budget each year with clear information about the sources of the funds, use of the fund and ensure that the budgetary deficits are clearly financed in each year. The city of Los Angeles budgets is prepared with several underlying principles that must adhered. The city has a reserve fund, which equals to 5% of the city’s general fund revenues. The capital improvements fund for the city is equal to 1% of the city’s general fund revenue. The city holds that all the funds from one-time sources must be used to finance the one-time expenditures. The city of New York has also established several reserves to take care of uncertainties in the city (City of Los Angeles, 2017). These reserves include the Retiree health
  • 2. benefit trust funds, a general reserve as well as a capital stabilization reserve fund for the city. Sources of funds The two cities have almost similar sources of funds for their budgets. These sources of funds, however, have differing contributions to the city’s finances. The table below presents the proportional sources of incomes to the cities. Los Angeles New York Source % % property taxes 21.9 29 allocation from other government agencies 6.5 27 utility user tax 7.1 7 business occupation 8.6 4 licenses and other fees 24.5 8 sales tax 5.7 8 proprietary 5.3 13
  • 3. miscellaneous 20.4 4 100 100 In the two cities, the property taxes account for the largest source of incomes. In New York, the allocation and distribution from other government and government agencies is the second largest source of income. This is due to the international nature of the city, which hosts major national and international offices. The city of Los Angeles has large commercial enterprises within its jurisdiction that contributed large amount of incomes in form of licenses, fees, and permits compared to New York’s city income from license and fees amounting to only 8% of the overall incomes. The miscellaneous sources of finance include the transfers from the reserve transfers, the special funds available balances and other sources of funds that do not fall in any of the official categories. The expenditure of the city finances is an indicator of the priorities for each of the city. Both New York and Los Angeles have differing needs and different populations to serve. They also have different infrastructure and challenges to address. New York L A Education 28 2.5 social services 18 25 police, correction and fire
  • 4. 10 42 Transport 3 12.1 health and environment 6 5 recreation and culture 1 3.5 pensions and fringe 18 2.4 Debt 7 general government 9 7.5 100 100 The two cities have major expenditure in provision of safety and emergency services within their areas of jurisdiction. However, Los Angeles has placed more emphasis on the safety and emergency services as it spent at least 42% of its annual budget to this area of expenditure. The safety and policing services in the city include controlling the crime in the city through employment and deployment of police officers, equipment and other support needed by the police (City of Los Angeles, 2017). It also includes the control of fire by employing fire fighters and fire engines within the city as well as the provision of public assistance services in various areas. New York City spends 10% of its budget on this vote head. In contrast, New York City spends more on the provision of
  • 5. education within its area unlike the 2.5% expenditure by Los Angeles on the same. New York City has a large number of basic education institutions within its area than Los Angele and therefore has to allocate more in this area. Additionally, the city commits its revenues to the expansions of the education facilities owing to the large population who are dependent on public education system, which includes the public school, bus transport in almost all the schools. The social services account for the second highest area of expenditure in both cities with New York having a lower expenditure than Los Angeles. The LA social services are broader than the New York’s as they cover the cleanup of the cities, parks, sewerage system and the provision of a solid waste management as well as children and societal welfare. The transportation services in both cities require an elaborate planning process. The transportation system at New York is well developed and financed which makes the city send lower on this area. However, Los Angeles spends more on the transportation with the majority, 6.5% of its expenditures being used for the streets and highways and a considerable high amount, 2.5% going toward traffic control. The city has also placed major emphasis on the culture and recreational services to promote the use of arts and the recreational services for the large LA population. Government The charts above show that New York has placed major emphasis on Education, pensions and fringe benefits, social services as well as police, fire and correctional services. These areas of expenditure accounts for the largest portion of the two cities budget. On the contrast, the city of Los Angeles has the highest priority on the police, corrections, and fire services followed by social services and transportation. The 2017 budgets therefore show a contrasting area of priority for the two cities. While New York has its focus on financing education, the city of Los Angeles has its focus on the crime
  • 6. prevention and general aim of securing the city. Given the commercial interests of the LA city, there is need for the city to spend more of its incomes to finance the crime prevention and policing of the city as a way of protecting the commercial interests and entities. On the other hand, the New York seeks to empower its dwellers through education and provision of social services to the citizens. It also seeks to service its debts from the revenues it generates each year. Budgets form a critical part of the governance structure in the world. They act as a tool for the governments, whether national, regional, municipalities as well as other private entities. The budgets are crucial in showing the areas where the organization or the government is maintaining its focus on (Djalil & Maulana, 2017). It also shows what areas that are of great importance by identifying the areas where the majority of the funds will be allocated to and therefore offer an important view on where the focus of the allocation of funds and the focus on the public fund’s expenditure. Budgetary allocation and analysis of a government’s allocation of funds assists in the improvement of the government’s transparency, accountability, and openness to its citizens. It allows the citizens, from whom the entity well collect funds and provide the services to, have an informed inclusion to the government decision making. It also acts as a tool for achieving inclusivity of these areas that have been left behind economically (Shim & Siegel, 2008). Additionally, budgeting in the government sectors provides an avenue to direct investments to the areas where the government entity is placing major priority. However, there is need for an in-depth analysis of the impact of the government agencies budgetary allocation and the implementation process of such budgets to determine their efficiency and effectiveness in achieving their set objectives (Ives, Razek, Hosch, & Johnson, 2011). The criteria of making budgetary allocation as well as the choice of sourcing funds and its allocation need be clearly analyzed and understood as they have an impact on the type of the budget adopted, the budgetary
  • 7. allocation, as well as the expenditure of the allocated funds. References City of Los Angeles. (2017). Budget Summary FY 2017-18. Retrieved from http://cao.lacity.org/budget/summary/2017- 18BudgetSummaryBooklet.pdf Djalil, J. M., & Maulana, R. (2017). Influence of the Implementation of the Performance-Based Budgeting on the Performance Accountability of the Regional Government Institutions. Research Journal of Finance and Accounting, 8(6), 25-33. Ives, M., Razek, J. R., Hosch, G. A., & Johnson, L. A. (2011). Introduction to Government and Non-for-Profit Accounting. Pearson Custom Publishing. Shim, J. K., & Siegel, J. G. (2008). Budgeting Basics and Beyond. Maison: John Wiley & Sons. The City of New York. (2017). Executive Budget Fiscal Year 2017. Retrieved from https://www1.nyc.gov/assets/omb/downloads/pdf/erc4-16.pdf