PA 581 Final Exam - Keller IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/PA-581-Final-Exam-Keller-200122.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com

1. PA 581 Final Exam - Keller
IF You Want To Purchase A+ Work Then Click The Link Below , Instant
Download
http://hwnerd.com/PA-581-Final-Exam-Keller-200122.htm?categoryId=-1
If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com
1. (TCO A) One of our lecturesdiscusses the budget executionstage of the budget cycle. Please
identify and explaineach of the major steps in the budget executionprocess. (Points: 25)
2. (TCO D) Property taxesreceive anumber of complaints fromsome taxpayers and many
politicians. Please identify at least three of these complaints, and discuss them in detail. Refer to
standards such as vertical equity, horizontal equity, and regressiveness as youdiscuss these
complaints.
3. (TCO C) Quarterly allotments for the appropriationto the State Library Systemfor the fiscal year
beginning July 1, 201X and ending on June 30, 201Y were as follows:
Q1: $5,500,000
Q2: $5,750,000
Q3: $6,500,000
Q4: $7,250,000
On December 31, 201X, budgetary statusreportsshowed expenditures of $11,000,000 and
encumbrances of $500,000. Usingan accrual accountingconcept, what was the budgetary status of
Library Systemsas of that December 31 date?
Show and label all work and state your conclusion.
As of the end of the third quarter, the Library Systemshows expenditures of $18,000,000 andhas
$4,000,000 inencumbrances. It projectsthat spending in the fourth quarter will be $250,000 more
than what was initially allotted for that budget period. Determine the amount of the supplemental
appropriation, if any, which must be requested in order to end the fiscal year with a balanced
budget.

2. Show and label all work.
4. (TCO F) Answer completely allof the following questions:
Why do state and localgovernments go into debt?
What is a municipal bond?
How doesa municipal bond differ froma corporate bond?
What is Net Interest Cost (NIC) and how doesit differ fromTrue Interest Cost (TIC)?
What role doesTICplay in governmental capital project financing?
(Points : 25)
5. (TCOE) What is the purpose of a tax system? One of the basic criteriathat is considered when a
tax system is evaluatedis the equity standard.
Please provide your interpretations of these items: 1. Purpose of a tax systemand 2. Equity
1. (TCO A, B) What is the meaning of a budget format? Governmental budgets may be organized in
line-item, program, and performance formats. What are the differences among these three
approaches? Make an argument that builds a case for hybridpresentations that includes all three
elements. (Points : 25)
2. (TCO A, B) Our text addressesthe federal deficit and relevant laws and measures for controlling
and preventingdeficits. Please explaineach of these measures in detail. These areas are (1)debt
limits; (2) aggregate budgeting; (3) targets and enforcement;and (4) spending controls, PAYGO, and
adjustable deficit targets.
3. (TCO G) Explain the importance of Pareto Improvement to a governmental unit.
A public project producesthe following individual benefits for stakeholders stated in terms of
present valueswhen an appropriate socialdiscount rate of 15% is used: Al = $8,000;Bev = $20,000;
and Chris = $11,000. The present value of the totalcost of completing and maintaining this project
equals $36,000.
 Explain the importance of Pareto Improvement.
 Is this project economically feasible fromthe social point of view? Explain.
 If stakeholders knew that each would be held responsible (through taxation)for 1/3 of the project
costs, would this project be acceptedunder majority rule? Why or why not? Be very specific, using
numbers in your answer.
 In principle, couldBev, the major beneficiary, financially "cut deals" with Al and/or Chris so as to
ENSURE that they would vote for the project? Using only the numbers givenin the project
statement as your starting data, specify howthis couldbe done.
4. (TCO H) List the steps in the capital budget processand explain each of them. (Points : 25)
5. (TCOI) Below is a table showing the income of individuals A and B together with their foodand
clothing purchasesin an untaxedenvironment (NOTE: K = 1000).
IndividualIncome Food Clothing
A $20,000 $5,000 $2,000
B $50,000 $8,000 $8,000

3. Before evenconsidering any particular numbers, define precisely what is meant when we say that a
tax system is regressive. Do the same for what is meant by progressive.
Suppose a general sales tax of 5% is applied to all purchases, and purchasing behavior does not
change as a result. In considerationof the sum total of ALL sales taxes paid, illustrate why this tax
systemis regressive.
SHOW ALL WORK IN A SYSTEMATIC FRAMEWORK TOEARN MAXIMUM POINTS.
Hint: Develop a calculationtable for analysis.
There is a proposal on the government table to exempt EITHER foodOR clothing fromthe sales tax
base. The purpose of this proposal is to seek progressivity rather thanregressivity inthe sales tax
system. Provide a reasonedrecommendation supportedby calculations as to which option should be
selected.
SHOW ALL WORK IN A SYSTEMATIC FRAMEWORK TOEARN MAXIMUM POINTS.
Hint: Develop two calculationtables for analysis.