Running head: BUDGET AND FINANCIAL TRANSPARENCY- CITY OF MIAMI 1

Budget and Financial Transparency- City of Miami

Ashley Posey

Columbia Southern University

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 BUDGET AND FINANCIAL TRANSPARENCY- CITY OF MIAMI 2

Budget and Financial Transparency - City of Miami

The office of management and budget in the City of Miami does a very commendable job

in planning, facilitating, and implementing budget spending in the city of Miami. This office has

the authority to coordinate and oversee administration procurement, information, and financial

management and offer regulatory policies concerning financial matters. It also has the mandate

to make projections on the city government income and offer suggestions on how revenue is to

be raised. In case of deficits, this office has the mandate to plan on how the government is to

cater to the deficits. This allows the smooth running of the government and facilitates service

provision by the government. Through the city government website, the office updates different

details concerning financial planning and budgeting. This is for easy access by various

stakeholders and the public.

Through the desk of management and planning, Miami city government has adopted

important aspects in aim to drive transparency and thoroughness. Different documents and plans

have been offered in thorough the website. Such kinds of documents and resources available

currently include the budget in brief for different fiscal years, the operating budgets for various

years, the capital plan, the annual revenue budget, and the year-end projects (City of Miami n.d).

The availability of these kinds of documents and projects on a government website shows a high

level of accountability and transparency. Different stakeholders can easily access these, review

them, and make suggestions where necessary. With the provisions of the end year projects, for

instance, visitors to the website have an avenue to understand the authority’s projections based

on the revenues that have been collected within specific periods. More transparency is promoted

by the breakdown of government expenditure into individual components. These include

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 BUDGET AND FINANCIAL TRANSPARENCY- CITY OF MIAMI 3

finances for salaries ad remunerations, infrastructural development, and other necessary

expenses.

In each fiscal year, the city has split its budgetary spending and allocations into two.

These include the operating budget and the capital budget. For instance, in the fiscal year 2019-

2020, the city government had offered a budget provision of 8.9 million dollars towards building,

1.1 million dollars on innovation and facilitation of technology, and 0.6 million dollars towards

the improvement of solid waste management (Budget in Brief, 2017). These forms public

projects that must be catered for by the end of the proposed time. The sources of general revenue

serve as an example of a presentation of the sources of the city’s income within the 2019-2020

fiscal year. Sources of general fund revenue, in this case, include the property tax, franchise

fees, charges for services, intergovernmental revenues, interests, fines, licenses, permits, and

transfer Ins. These form the different approaches that the Miami city government uses to source

for the general fund. A detailed elaboration on where this money goes and how it is used is

similarly given.

The Miami city authority is accountable to its citizenry in terms of planning, revenue

collection, and allocation. Maintaining transparency forms one level of accountability as people

want to know what the authority plans to implement, how it will raise resources, and how to

reach there. The citizens also want to remain aware of how the money they limit through taxes

and licenses is being used. To cater to the needs of its citizens, the authority also sets aside

money to address the provision of social services and amenities such as security, education, and

fire brigade services. These are the services that the citizen spay tax for, and the authority owes

them responsibility and commitment towards handing. Since Miami is a coastal city, a

considerable amount is also set aside for the facilitation and maintenance of parks and recreation.

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 BUDGET AND FINANCIAL TRANSPARENCY- CITY OF MIAMI 4

This primarily promotes the primary source of income within the city, thus ensuring a continued

source of income and employment.

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 BUDGET AND FINANCIAL TRANSPARENCY- CITY OF MIAMI 5

References

Budget in Brief (2017). Fiscal Year 2019-20. Retrieved from

http://archive.miamigov.com/budget/docs/FY20/BudgetinBrief.pdf

City of Miami (n.d). Retrieved from http://archive.miamigov.com/Budget/

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