Sample Finance Coursework Paper on Strategies for Influencing Budget Processes

Strategies for Influencing Budget Processes

A budget is a framework of financial expenditure that provides a controlling mechanism of scarce resources, and it provides prioritization and accountability of financial resources. WIC, Rockland County, NY organization will enforce various strategies and tactics to influence the budget allocations at state, Jurisdictional, and local levels.

State level

Given challenges in accessing state or federal grants, corporations and public programs, WIC, Rockland County, NY organization and other coalition of organizations with similar interestswill opt for private investor funding while cutting on expenditure that is less demanding (Morgan 51). Besides, the WIC will establish a sponsorship relationship with private firms as a source of funding.

To ascertain long-term operational continuity, WIC organization and other coalition of organizations need to put pressure on state legislatures to structure and implement favorable market policies (Morgan 55). Senior management in the organization should identify, seek, and appeal to their State legislators for funding. 

Jurisdictional level

Jurisdictional budgeting should influence national and state policies, such as tax collection, a source of budgetary allocations toWIC organization and other coalition of organizations (Tyer and Willand 27). Further, state-county, and state-federal partnerships through individuals, such as governors, senators, senior corporate managers, and stakeholders in the private sector can be a source of funding to WIC organization and other coalition of organizations.

Local level

WIC and other coalition of organizations can obtain funding through borrowing from the state and other agencies, and by minimizing expenses. Counties can minimize their expenditures by closing down services that do not give profits (Morgan 50). This allows for savings that represent the best alternative to covering economic gaps at local level given the small budget scopes. County officers should strengthen their relationships with local businesses to allow accurate policy capture, cost saving, and financial support for WIC and other coalition of organizations.

Works Cited

Lee, R. D., and R. W. Johnson. Public Budgeting Systems. Baltimore: University Park Press. 2013. Print.

Morgan, Douglas F. Budgeting for Local Governments and Communities. 2015. Print.

Tyer, Charlie, and Jennifer Willand. Public Budget in America: A Twentieth Century Retrospective. Journal of Public Budgeting, Accounting and Financial Management.9 (2). 1997. Print. <http://www.ipspr.sc.edu/publication/budgeting_in_america.htm>