Public Finance

Many a taxpayer would wish the government didn’t have a check book but they do. Paying for community services, utilities, facilities, government services and our roads and bridges all require money to keep operational. Public finance is a career choice. The government holds assists and liabilities so they have a finance department too.
If you go to work in public finance your job will be with cities, municipalities, counties, states, provinces, countries, school districts, or governmental agencies. Each of these entities will have an expected list of identified necessary expenditures for the public sector. All assets held by each entity are listed in their finance department. Land, building, equipment, and furnishings are only the base list of assets.
Within each of these public sector areas is a list of sources or revenue these entities can expect to receive. These monies come from taxes paid by citizens and businesses. Revenue can come from bonds that are sold to citizens as an investment strategy. Government bonds usually supply a safe place to save money and earn a small amount of interest.
In finance you will request each department to come up with a budget of expected expenditures of monies. These departments need to justify expenditures. These budgets can be the subject of heated council meetings within each department.
Government failure has been coined to explain when public provision via the government is subject to inefficiencies. Public budgeting is more complicated than home finances and often results in inefficient practices.
Income distribution or rather redistribution is the transferring of wealth. Usually this is accomplished in social service operations like unemployment or food stamps. In Public finance you could be working with these social service projections and trying to make the money stretch.
Sources cited: http://www.publicfinanceauthority.org

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