A block grant is a large sum of money granted by the national government to a regional government with only general provisions on how it is to be spent. States have broader discretion in how they use the funds.
A Comprehensive Annual Financial Report (CAFR) is a detailed presentation of a state, municipality, or other governmental entity's financial condition. It can serve various stakeholders, including citizens, governing bodies, investors, and creditors.
CIPFA is the professional body for people in public finance, offering qualifications, training, and a range of support for those involved in public sector accounting and financial management.
A deficit occurs when expenditures surpass revenues, creating a shortfall that must be managed through measures such as borrowing or cost-cutting.
A Government Enterprise is a governmentally sponsored business activity, which operates like a corporate business entity. Despite generating its revenue from services rather than through taxation, this enterprise is often publicly managed and oriented towards public welfare.
The Governmental Accounting Standards Board (GASB) is an independent, private-sector organization in the United States, responsible for establishing and improving accounting and financial reporting standards for U.S. state and local governments. The GASB operates under the oversight of the Financial Accounting Foundation (FAF).
The National Audit Office (NAO) is the UK's supreme audit institution responsible for scrutinizing public spending on behalf of Parliament.
The process through which the government takes ownership of a private business or industry.
The Office of Government Commerce (OGC) was an office of HM Treasury responsible for improving the efficiency and effectiveness of government departments and other public sector organizations by delivering best value for money. OGC issued standards on best practices in procurement, project management, and service management, and measured performance against these standards.
A comprehensive guide detailing the transition of a publicly owned company or asset to private sector ownership, including economic and political motivations, examples, FAQs, related terms, and learning resources.
Public choice theory is the application of economic theory to the public sector and the analysis of the demand and supply of government services. It views the public sector as a supplier attempting to maximize its welfare, typically focusing on decisions designed to promote the reelection of incumbent politicians.
Public ownership refers to the government ownership and operation of a productive facility or entity for the purpose of providing goods and services to the public, as well as portions of a corporation's stock that are publicly owned and traded in the market.
Public Sector Net Cash Requirement (PSNCR) refers to the amount of money that the government needs to borrow in a specified period to meet its expenditures and obligations, after accounting for its income.
A Public-Private Partnership (PPP) is a cooperative arrangement between one or more public and private sectors, typically of a long-term nature, designed to finance, build, and operate projects such as public transportation systems, parks, and social infrastructure.
An overview of the quasi-autonomous non-governmental organization, often abbreviated as QUANGO, including its function, structure, and relevance in public administration. While not government entities, these organizations operate under government oversight to fulfill specific public duties.
A sector refers to a distinct part of the economy, stock market, or specific division in computer storage, each sharing common characteristics.
The third sector encompasses non-governmental, not-for-profit organizations, differentiating it from both the profit-making private sector and the governmental public sector.
