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State Budgeting Practices

  • Living reference work entry
  • First Online:
Global Encyclopedia of Public Administration, Public Policy, and Governance

  • 13 Accesses

Synonyms

Budget; Budgeting

Definitions

  • Budget Forecasts: A projection of a particular financial value such as tax revenues.

  • Multiyear Budgeting: An approach to budgeting that plans for more than 1 year.

  • Rainy Day Fund: A fiscal tool that states can use to accumulate reserves and then drain them to mitigate budgetary pressures.

Introduction

Over time, states have adopted a range of budget practices (e.g., Rubin 2005; Wagner and Sobel 2006). There is growing evidence, for example, that states have adopted different and even hybrid budget models over the past few decades (e.g., Botner 1985; Reddick 2007). More so, while state forecasting practices can be categorized into three general approaches, some still have distinct practices (Mikesell and Ross 2014). States have also taken different approaches to budget stabilization over the business cycle, as well.

Despite this variation in state budget practices, researchers recommend that states adopt evidence-based approaches and even apply...

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Author information

Authors and Affiliations

  1. Western Michigan University, Kalamazoo, MI, USA

    Vincent Reitano

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  1. Vincent Reitano
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Correspondence to Vincent Reitano .

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Editors and Affiliations

  1. Florida Atlantic University, Boca Raton, FL, USA

    Ali Farazmand

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Reitano, V. (2021). State Budgeting Practices. In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_391-1

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  • DOI: https://doi.org/10.1007/978-3-319-31816-5_391-1

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  • Print ISBN: 978-3-319-31816-5

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