Suggestions to Maintain Budget
The model is related to the public university, which is facing or in an uncertain political environment, there is some suggestions that how betterments could be there and how a budget can
be managed. However, there are challenges for the universities, with the change in economies and time, there are the rapid changes in the budgeting game. There is the need to manage all the aspects related to the economies and political environment so that certainty and stability can be there.
Budgeting is a process that is related to the stability, so if the budget is concerned in more sophisticated forms then there could be improvements and positive outcomes in the future, the budgeting is becoming more complex, there is need to identify the gaps and need to use the best tool, which can cope up with the uncertainty. There is the need to look at the budget, impressive array can be helpful in managing the functions, example some of the points that could be followed are, the resources need to mobilize so that it could be used for public and employment.
There is a need to control the availability of the resources, to prevent the seepage, the resource should be examined that they are satisfying the demands or not. The financial management needs to be skillful and proficient, there is need of institutional practices, with the careful and honest, accounting practices. Independent audit must be established and scientific evaluation of projects can be a help to incorporate successfully into the cost-benefit analysis. For the proper budget, reform there is a need for proper programming and planning, the evaluation of the alternatives and determination of the objectives can result in reaching the aims of budgeting.
Application of the techniques can be useful in coping up with the uncertainty and instability; however, there are six areas of uncertainty, and suggestions, which could be followed, for the alleviation of the deeper crises. Uncertainties are resulting in the poor management, the uncertainties could arise from the novelty, it could be a unique problem, occur when the future is unclear and policies are not made properly, the policies may be made without noticing the experiences of the past. There is need to focus on the uncertainties from novelty before making the budgeting policies.
Another could be the uncertainty arising from the annual perspective, in which the annual budget is not properly done, there is need to focus timely or need of periodic check review, if want to get safe from the uncertainty of annual budget. There could be uncertainties, which are arising from the problems of forecasting, as the problem are not identified, which can be there in the future, high inflation rate, the cost and revenue are not forecasted or concerned, there could be problems if problems are not foretaste.
The other uncertainties could be arising from the centralization and bureaucratic control; the government activities and decision-making are not favorable for the economy. Uncertainties from size and complexities are, when the bureaucratic and legislative oversight become more difficult, because the transactions are not clear. In addition, uncertainty from erosion of accountability is when the government cannot do accountability appropriately; of money spent by the public. The government needs to focus on all the uncertainties, if the government needs to manage the budget properly, so there could be no issues in the future, as the universities can be affected by the unbalance of uncertainties, so there is a need to focus properly, however, the six uncertainties are suggested which can bring the positive results.
A performance measure can also give the positive outcome or outputs, the legislative bodies, through focusing on the performance that what is done and what is needed to do, if the governing bodies do the timely evaluation, of their budget and finance, then there could be less chances of the complexities. There is need to focus on the public-sector performance so that the universities can also be given the benefits. The governments need to focus on the performance of the private sectors because private firms if going in the profit it means that they are performing better.
Efforts are needed to do for the performance measurement, through setting the objective by measuring the ability of the performance, the agencies can accomplish their goals; there is also need to establish the measures of the performance. If the agencies on private sector, example, and universities want the better results, they need to measure their inputs and output, so that the programs can be effectively performed. The most important thing could be the measurement of the challenges, so that the potential benefits can be obtained, however, there could be obstacles in measuring the performance of the federal agencies, but it is needed to follow the policies, objective and strategies effectively.
For the effectiveness, there is a need to focus on the outcome-oriented performance, the measurement of the performance can result in the maintaining the performance and get safe from the obstacles. The gaps between the performances can also be identified through performance measurement, the effectiveness can be achieved in the agencies if all the programs are fully focused, through continuous evaluation, one can come to know about the performance and can know that what strategies could be follow to manage the financial budget.