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Theories and Concepts to Help Understand Budgeting and Finance
For
the topic on theories and concept to help understand budget and finance
this commencing week, I will dwell on the judiciary as a sector of
government. Recently the rivers state government in Nigeria rebuilt the
Federal High Court in Port Harcourt the state capital. The external
building has been in dire need of repairs/renovations and a definition
of infrastructural deficit, although all other internal offices and
chambers are in good but not perfect conditions for the judges.
This
building is a federal project but done by the state government (of
course amount spent is expected to be refunded) in a bid to pass a
message that the federal government is not living up to their duties and
campaign promises. Aligning this project to finance theories and
concept, the rivers state government for the purposes of politics has
sent a clear message to their opponents and used this breadth taking
project as a communication tool. As stated in Laureate Education, 2008c,
“a budget being a financial tool … and a political instrument” has
been used to the benefit of the judiciary and stakeholders. Finance was
allocated for this project in the budget and implemented timorously to
meet the pressing need to create more equipped and spacious court halls,
conducive chambers for judges, and comfortable courtrooms for lawyers
who spend long hours therein. This is an example of planning and
allocating the required resources for a budget plan that has been
developed and executed.
This
project brought about social good, although some persons might still
disprove of its merits to society and the quality of the state budget
and its finance as a value and great service to the citizenry (Mikesell,
J. L. (2014).
References:
Laureate Education (Producer). (2008c). Introduction to finance and budget administration [Video file]. Baltimore, MD: Author.
Mikesell, J. L. (2014). Fiscal administration: Analysis and applications for the public sector (9th ed.). Boston, MA: Wadsworth
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