Miami Budget Essay

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Budgeting, particular during pressing economic periods, is critical to the overall solvency of public organizations. Budgeting and proper forecasting provides a means for organizations to remain viable irrespective of the economic circumstances prevailing. History has proven that businesses along with public enterprises must endure various economy cycles and environments. The past decade has provided substantial evidence as to the importance of proper budgeting. Organizations that have failed to budget properly have suffered immensely in regards to lost reputation, profit and productivity. The subsequent decade will be no different in that regard. Budgeting in the public domain, must provide adequate reassurance that the public organization can withstands a litany of economic and monetary circumstances (Parks, 1991)

A budget provides organizations financial priorities in dollar terms. Particular in recessions or depression, public budgets, when analyzed, provide an idea as to the organizations priorities. During periods of mass euphoria and over optimism, budgets tend to reflect the positive confidence about future performance. This optimism is all too often overdone. When periods such as 2008 arise, many public organization are forced to cut many of the more discretionary aspects of the budget. What remains if often the core focus of the public institute as it relates to the organizations mandate (Muir, 1953).

One budget of particular interest is that of Miami-Dade county. Miami-Dade county is unique for its location, weather, and overall attractions. As such, the government must facilitate the exchange of not only goods and services, but as individuals as well. When reviewing the budget, 29% of each dollar is spend on public safety.

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According to the budget, public safety is defined as funding for the court system, law enforcement, fire rescue and other public services. The county has seen as increase in spending in this area, primarily to protect visitors and patrons from criminal activity. As a result, the county has achieved the lowest violent crimes rate in the past 5-year.

Another 24% of the budget is allocated towards public transportation. As a large tourist destination, patrons often do not have access to transportation. As such, the county has attempted to alleviate the public transportation issue by investing 24% of its $6 billion budget into transportation related activities. Aspects such as trains, public buses, metro rails, and cruise terminals all facilitate the process. The country intends to allocate a greater portion of its budget to this area as the economy continues to recovery. Executives anticipate further growth in this field as unemployment continues to decline in the region and across the nation. As such, discretionary income may begin to increase which will allow individuals to spend more during their travels to Miami.

Finally, 21% of the budget is spent on infrastructure related activities. These activities include beach erosion control, drainage improvements, and overhaul of waste water plants. These additions, although often unnoticed are essential to society. Beach erosion and drainage are particularly important during hurricane season as floods are….....

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