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Answer to Question #60050 in Other Economics for Shelley O'Brien

Question #60050
1/ What category of budgets are the governance board most likely to be interested in?
2/ With a long term view which specific two budgets are the most relevant to the governing board and for what reason?
Expert's answer
1) Such category of budgets as revenue budget the governance board most likely to be interested in. Revenue budget – consists of revenue receipts of government and the expenditure met from these revenues. Tax revenues are made up of taxes and other duties that the government levies.
2) Government budgets are of three types: Balanced Budget (when government revenue and expenditure are equal), Surplus Budget (when anticipated revenues exceed expenditure), Deficit Budget (when anticipated expenditure is greater than revenues).
With a long term view balanced and surplus budgets are the most relevant to the governing board, because they will not cause the increase of government debt in the long run.

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